Danny B

You buy via an online exchange and send / receive bitcoin via a virtual wallet. Once you are setup, it's just like topping up an Amazon gift card and then using the gift card for purchases on Amazon.

I used this company https://www.coinbase.com/

Shard

Thanks. Will have a look, though no current plans to "invest".

JamesM

Airlines are something to buy now.

No one will but those that do will win big.

I'm going for a couple of Electric vehicle plays.

Farmer on a bike

As successful investing is not a benefit of hindsight, if you don't know what you are doing, find someone who does.
1. What is your level of investment experience?
2. Can you afford to lose it all if the investment goes sideways?
3. GICs are more secure, but lower return.
4. Stocks and bonds are more volatile, best left to the recreational investor (who can take the hit) or the professional.
5. For smaller amounts, mutual funds and GICs, less risk, lower return, but better than a savings account.
6. On a lower risk investment these days 3 to 5% is likley the best right now. Although the past 12 months have seen even 12% surprisingly. Did not seem so optimistic a year ago though.
7. Significant gains have been made in the last 12 months, however can it hold and will it keep going up at the same rate?

Revin Kevin

Since I asked the question and having bought a copy of the financial times! (lol) and I have split the money into 6 funds with Hargreaves Lansdown. Basically they are all either stock market or sector trackers so hopefully it's pretty well diversified against particular downturns. Pleasingly my more or less randomly chosen funds are up over 2%.

Siouxie

Keep in mind that once you become resident for tax purposes in Canada you'll need to keep very careful track - deemed disposition / capital gains / costs / etc., so keep documenting!

Stumpylegs

I think a few airline stocks we are now a bit too late to the Covid party on, I got in on Ryanair mid pandemic, (not lowest of the low) and got out mid November - stock prices are now at pre pandemic levels, wish I'd hung on, but thought it was a gift that could only carry on giving for so long.

Still in on BA but tempted to get out - got nothing in EV, but think there is some smart money to be made on the infrastructure for them and got a small fund there.




I know you've already bought funds from your last post, but going to put it here in case anyone else gets the same idea - as a semi experienced investor (been dabbling for maybe 5-6 years now) as a beginner avoid individual stocks like the plague unless you are treating it like a trip down the bookies (not that there's anything wrong with that, but probably not for any significant amounts of money). Number 1 point to a beginner investor who wants to go DIY would always be index funds/ETFs/mutual funds (I lean towards the first 2) once that's rolling feel free to have a play with small amounts of money on actual individual stocks, but choose ones that either interest you, or a section of the market to study and become accustomed too.

My last comment on this is don't get fixated on looking at your investments daily for anything passive - just sit back, check on it once a month, once a quarter ideally. if your in it for the semi long haul its value is irrelevant today, tomorrow or next week.

not2old

good luck with your investments, once in a while please post back & update us.

@farmer on a bike post #19 good points to keep in mind.

investing in funds or the stock market ... there are no guarantees.

capital preservation is key, know your risk, dont lose any of it when someone suggest this, that & the other risky investments.

past performance is not indicative of future results.

.

Revin Kevin

Seem to have made a good (lucky?) start. My portfolio has gone up by around 4.5% already which is about a thousand times the pittance my bank pays annually! Emboldened perhaps with my early success I am now looking at putting a little into bitcoin and to that end have just applied for a coinbase account and set up a digital wallet. As soon as my account is open I intend to sell my worse performing ETF and buy a bit of a bitcoin.

Shard

Hope that goes well.

Paul_Shepherd

I can't help thiinking that Bitcoin is past its biggest growth now... (it will obviously still grow, but not like it has been) usually when us mere mortals hear of big gains in an investment the party is already over.

Revin Kevin

Yeah I feel I may be arriving late too. A few are predicting bit coin will go all the way to $1m which seems far fetched to me but quite a few are saying $150k is quite likely - which I'd take!

orly

Luckily the price doesn't go in a straight line up and to the right. Could easily go to 100k, 250k, 1 million but it could also go to 10k or 20k many times along the way.

Danny B

Today marks the first time that Bitcoin, Ethereum and Dogecoin hit all time highs on the same day!

If you had bought $1,000 of BTC this time a year ago, you’d have $9,100 by now.

$1,000 of ETH a year ago would be worth $14,000 today

But putting a $1,000 into Doge a year ago would now be worth $22,450 today!

Tangram

Yep. I had to do this with over 20 share options and 4 stock gifts from my last company. I had a huge spreadsheet detailing the US prices on specific dates, exchange rates on those dates and the gains when sold with the relative stock prices and exchange rates. Then use the formula from the CR to work out the gains.

I think the accountant just used my spreadsheet ( unless he worked it out and it perfectly matched mine ) for my tax submission. Was a bit of a nightmare to work out.