Too Hot Investment Thread

TY

 

Don’t forget the password

 

Would you guys like this thread pinned at the top of the forum or prefer to let it float?

 

Pinning it would be great. Thanks.

 

Pinning it would be awesome.

 

I wouldn't recommend Robinhood. You can never actually get your private key from them. The easiest exchange to use is Coinbase. You can then move it to Coinbase Pro for free and withdraw it to a cold storage wallet like this Ledger Nano X which I would highly recommend if you have any amount that you aren't comfortable with being on the internet.

If anyone wants to use Coinbase let me know and I can give you a referral link (if you use it we will both get $10 in free Bitcoin).

Another exchange I have used is Kraken. It is a little more difficult to set up as you will need to wire money to the exchange rather than buying directly using a credit card or bank account. Some like the security of this option better.

 

Just to help me understand, and prob a few other here too.
Am I understanding there is a fee to "store" the crypto?
Why is that?
If you are planning on holding it short term(3 months) is there still a fee/ cold storage needed.

Thanks in advance

 

Someone got their thread pinned. Well la dee da.

 

No you get charged a fee to purchase it and to withdraw it to a cold wallet. You get hot storage for free with Coinbase, so if you don't plan on holding it long term (and also the amount is something you are comfortable leaving in hot storage) then you don't need a cold storage wallet.

 

You can't "shop around" for PMI, per se, but some mortgage lenders will work with several different PMI companies that you could potentially compare for terms. For instance, some may offer a slight lower fee or an option to "buy out" of PMI.

My wife and I did that with a recent home purchase. We could have come up with the extra cash for a full 20% down payment, but it would have left us pretty cash poor compared to buying out our PMI for about 2.8K.

And I'm glad we went that route, in hindsight. The decision allowed me the comfort to invest another ~20K in the market back in March last year. Obviously made a lot more on that money than $2.8K.

 

I'm pushing XEC today. Mostly because I own a lot of it.

But they are pioneering electric fracking to reduce their carbon footprint, and are one fo the first natural gas companies to do so.

And when it goes up, my wife is in a better mood.

 

Don't sell yourself short. You want it up.

 

Yep, owned it several years ago, recently bought it for less than I sold it. Their debt level is concerning, but as long as they maintain the dividend all good. T mobile seems to be the sexy stock in that space now, due to 5G, but a high PE.

 

Yep, I've looked at it several times, just can't get on board. Same goes for a friend who has a PhD in finance. Too conservative I guess.

On the other hand I have a 20something nephew that has 1 bitcoin he bought for $8k.

 

Very true, but it can work both ways. I know a couple that took equity out to invest prior to the last recession. When the market collapsed, they ended up losing both the investment and their house.

 

I haven’t looked into but from what I understand you don’t actually own your crypto if you buy through Robinhood. On legitimate exchanges you can buy and then move your cryptocurrency to other exchanges or wallets. As I understand it, Robinhood owns the crypto so you can only buy, sell and “hold” it on Robinhood.