Is ripple worth buying now you think?
Not all of these are aiming at the same markets though. XRP is designed to facilitate big transactions between banks, not aiming to become a currency that is used for end user transactions. Bitcoin has different aims. There is certainly a lot of redundancy with alt coins, but I don't think it'll be a winner take all situation anytime soon.And just like we don't have and haven't really had one global currency ever, I don't think we'll have one global crypto at least on the near-term.
I have been looking into crypto investment and holy shit
crypto has a huge barrier to entry. I'm
having trouble finding an exchange to use.
Coinbase seems to be the most reputable, but they only have Bitcoin,
Bitcoin Cash, Litecoin, Ethereum, Ethereum Classic. This is the criteria I’m trying to meet.
1. Reputable/not shady, 2. Available in the US, 3. Allows USD as a deposit, 4. Has the major coins and some alt coins.
Does anyone have a recommendation?
Look into Binance. It has the most available currencies to exchange/purchase although not all of them. They don’t deal in usd so you would have to use a site like Coinbase to purchase ETH or LTC from USD and then send it to Biance to then exchange into another crypto. Beware of Coinbase though if you’re funding it from your bank account via ACH— it took me 5-6 business days for it to clear and my funds to become available to transfer to Binance. If if you are able to get an account, check out Gemini in place of Coinbase. Supposedly Gemini isn’t taking new enrollees, but it’s worth a shot. GL!
I'm not saying no one can make money. I'm saying that in my opinion now isn't the time to get in. I would also be concerned with the IRS getting wind of hundreds of thousands of dollars of cash hitting an account of mine in the US. I'm an accountant and believe me when I say you don't want to be the guy who gets to go to court for the land mark cryoto case. Unless you made hundreds of millions of dollars. Getting $300k and being on the wrong side of the tax man is just enough money to ruin your life.
Why would I use cryto to buy stuff? Because unless I'm buying something illegal it actually takes more steps and is way riskier due to how the value fluctuates.