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Originally Posted by Hockey
I got some money in my dapper account for my NBA top shot moments. Being in Canada I can't withdraw as you can only withdraw to US based bank accounts. Trying to figure out which would be the best cryptocurrency to set up so I can start using that to buy more moments or withdraw. I know nothing about that stuff and would like to know which would be my best options. Any help is appreciated
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You better be careful with this because it can be very volatile. A few things to ask yourself, are you wanting to watch it daily and have your finger on the trigger ready to sell at a moments notice? Or you want to play the long game and not be glued to the news and daily charts?
There’s over 5000 alt coins out there and I’m sure there’s a select few that might give you some pretty insane returns or do the opposite and loose everything. I feel like in the next few years only a handful will break out from the rest. I look at which has the bigger network effect.
I only follow Bitcoin and I’m seeing other Institutions doing the same. Are you hearing about companies buying anything besides Bitcoin? No. Are banks and governments accepting anything other than Bitcoin? No. Follow the money.
I sense that a lot of people feel that Bitcoins price it too high and they’ve missed the bus. This is not true, it could break $1million dollars a Bitcoin in the coming years. This is predicted by a number of analysts.
There’s some psychological thing that people feel they need to own a whole of something like 1 whole bitcoin. This is silly because a bitcoin is divisible by 100,000,000 Satoshis. You can buy today 211,600 Satoshis for $100
I suggest you and everyone starts doing the DCA (Dollar Cost Average) method. Every week, month, or whatever fits you. Buy a little here and there. Regardless if it’s a bull or bear market. Overtime it will appreciate and you’ll thank yourself later.
