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InvisibleAsante
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AROOOGAH! AROOOGAH! Battlestations! China made Crypto Trading illegal!
    #27481470 - 09/25/21 07:33 AM (2 years, 4 months ago)

...and China as you may know is the heartland of crypto trading.



https://technext.ng/2021/09/24/china-declares-crypto-transactions-illegal-prohibits-banks-and-fintechs-from-dealing/


Great sums can be lost and gained in the wake of this major market shift.


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Invisibletrees
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Re: AROOOGAH! AROOOGAH! Battlestations! China made Crypto Trading illegal! [Re: Asante]
    #27481481 - 09/25/21 07:43 AM (2 years, 4 months ago)

Its fake news. Just hodl and buy the dips


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InvisibleAsante
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Re: AROOOGAH! AROOOGAH! Battlestations! China made Crypto Trading illegal! [Re: trees]
    #27481487 - 09/25/21 07:47 AM (2 years, 4 months ago)

Well, the fact that they do this will likely induce a dip!

Whether they re-legalize or not is unimportant, there are going to be ripples in the market which handled wrong can cost you and handled right can gain you.


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OfflineBaby_Hitler
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Re: AROOOGAH! AROOOGAH! Battlestations! China made Crypto Trading illegal! [Re: Asante]
    #27481492 - 09/25/21 07:51 AM (2 years, 4 months ago)

How do you even buy bitcoin?

If I were going to pick up maybe $200 of it. What would be the best way to go about it?


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Invisibletrees
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Re: AROOOGAH! AROOOGAH! Battlestations! China made Crypto Trading illegal! [Re: Baby_Hitler]
    #27481500 - 09/25/21 07:54 AM (2 years, 4 months ago)

Download the crypto.com app. Or coinbase


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OnlinegeokillsA
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Re: AROOOGAH! AROOOGAH! Battlestations! China made Crypto Trading illegal! [Re: Asante] * 1
    #27481548 - 09/25/21 08:28 AM (2 years, 4 months ago)

This is in effect old news and the big dip was yesterday morning.  I posted this 23 hours ago in a private crypto channel I frequent just an hour or two after the dip hit its peak:

Quote:

Looks like there's a good bid off the knee-jerk reaction this morning, so I'm feeling fine.  Let's also keep in mind that the China news was apparently already known and released as guidance from the PBoC on September 15th, while today's reaction appears to stem from that same news finding new life because it didn't get officially posted on the internet until today.




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OnlinegeokillsA
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Re: AROOOGAH! AROOOGAH! Battlestations! China made Crypto Trading illegal! [Re: Baby_Hitler]
    #27481575 - 09/25/21 08:48 AM (2 years, 4 months ago)

Quote:

Baby_Hitler said:
How do you even buy bitcoin?

If I were going to pick up maybe $200 of it. What would be the best way to go about it?




Wiring money into an exchange account, like the ones trees noted, I would recommend FTX.com (or FTX.us if you're in the US - slightly more limited platform, but still likely one of the most capable and liquid exchanges out there at the moment outside of Binance).  Since you already have a traditional stock brokerage account setup, you could also gain some correlation to the asset class buy purchasing shares in a proxy: GBTC and ETHE which are bitcoin and ethereum trusts that trade very similarly to the underlying asset.  Mining companies like MARA can offer a little more beta (i.e. it can move more on both the up and downside relative to bitcoin), or a company like MSTR that has bought so much of their own bitcoin that they are basically a bitcoin trust now, even as they still run a very profitable underlying and unrelated business.


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OfflineLoaded Shaman
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Re: AROOOGAH! AROOOGAH! Battlestations! China made Crypto Trading illegal! [Re: geokills]
    #27482276 - 09/25/21 10:57 PM (2 years, 4 months ago)

...Wasn't crypto already banned in China...?

BAN IT AGAIN!!!

I pulled my portfolio off Coinbase, and couldn't be happier.

BTC has yet to perform as well as it did before the El Salvador dip.


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"Real knowledge is to know the extent of one’s ignorance." — Confucius


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