My Coinbase Bitcoin/Ethereum/Litecoin Experiment
Back in May I bought $100 Bitcoin, $100 Ethereum and $100 of Litecoin. So far that original $300 Investment is now worth $569 .... so almost 100 % return on my Original Investment. According to an email from Coinbase I also have .0048 shares of Bitcoin Cash. Not sure when that will show up on my account. Does anyone know with each Fork of Bitcoin we automatically get an equivalent shares of the new Crypto Currency ?
So far I am very happy with Coinbase ... https://www.coinbase.com/join/592749dc269d7a03d41b8c27
This is beyond amazing.
I have not had as much success with Coinbase. Their exchange rate isn't updated in real time and is often several dollars off the actual rate. When purchasing through Coinbase I would advise to check other exchanges to ensure the rate quoted is actually fair. Also, if you are using ACH to fund your orders it can take up to a week to actually receive your BTC/ETH/LTC. For those looking for a long term position the lag time isn't as much of an issue. However, day traders and those who wish to hold a short term position will be a risk with this lag time. Orders funded with credit cards are instant but carry greater fees.
Hard to day trade something that takes a week to get.
I use coinbase because I am in the process of building my basic foundational holdings in Cryptocurrencies at this time. As soon as the coins are in my account (the last batch took 6 days), I move them to offline storage.
Coinbase seems to be one of the more secure and legitimate wallets/exchange. Options are somewhat limited for the initial purchase their interface and app is nice and quick for approval. Nothing wrong with using them just want to make sure people are aware of the drawbacks. Also, I would caution against Lawnmower, as they purchase made on that app are actually processed by Coinbase. The problem is Lawnmover has a more accurate exchange. If you purchase through through lawnmower you may get a different rate then what is actually proceed through Coinbase. This happened to me and the difference was $5. Fairly significant in my opinion, so I would avoid Lawnmower all together.
Yeah .... I plan on holding for 10 years or more ....
I don't know the answer to your question I'm afraid. But I do think it's very cool that your investments have grown so much! I'm just learning all about crypto currencies myself and will be investing soon I reckon. Good work. Followed!
Took me a while to figure out how to buy Bitcoin. I tried several wallets but I only could get Coinbase to work for me. I originally tried to buy a few 1,000 bitcoins 8 years ago but I could not get any of the wallets to work back then. Better late than never I always say.
Thanks - I followed you back. I will post updates over the next several months and years. Stay tuned.
Will do. And cheers! :)
Nice returns!
I saw the answer to your question but I can't remember where. They are planning on making your Bitcoin Cash available to Coinbase customers the beginning of next year. For the exact date I would email them or look at their blog.
Awesome. Thanks - So i guess I have an extra $100 in my account .... starting in January.
The amount of bitcoin cash should be the exact equivalent of the amount of bitcoin you had... so whatever bitcoin cash is worth is what it will be. Maybe less than $100, maybe more than $100!
Oh that would be awesome ....
"Customers with balances of bitcoin at the time of the fork now have an equal quantity of bitcoin cash stored by Coinbase." - Coinbase Team
This is exactly what I needed.
wow this is intresting. i will follow you
click here https://steemit.com/steemit/@tomahawk429/is-blogging-the-new-mining-steemit
Thanks I followed you back. Also thanks for the up-vote much appreciated.
is that canuck bucks? that the same as newfie dollars? jerking your chain,
lol
Yes .... only worth about 77 cents for 1 US dollar