Hubert Senters here.
Let’s take a look at some cryptocurrencies bouncing doing a nice little slingshot trade and my beloved ETH is bouncing too.
Now, if you bought down here you’re probably happy. If you didn’t buy down here you probably suffer from some FOMO. Don’t worry we all suffer from FOMO.
So I have a question here from Sam.
Hi Hubert,
What is a good place to buy Bitcoin? Can you trust places like Gemini or Coinbase. What if they go belly up, can they take your coins?
Yes. Sure they could. It’s not probable. Is it possible? Yes. But it’s not probable. There are tons of sketchy cryptocurrency exchanges out there. You should be careful. I wouldn’t put Gemini and Coinbase under that same sketchy level.
But you have to understand that cryptocurrencies as trading instrument or investment they’re stil largely unregulated.
The SCC has still not decided whether they’re going to classify them as an asset, a security or a currency so there’s all kinds of stuff.
Anytime you are placing any trade on a crypto it is still the wild to my opinion but Gemini and Coinbase would be once that I would trust the most because they have the best backing.
But look I’ve traded futures where futures brokerage funds have win belly up and people have tried to run off the money.
Good thing about that it’s regulated so your accounts are protected with almost like the FDIC insurance so it’s a little bit more secure.
Cryptocurrencies are not so you are walking a tight rope without a net anytime you are doing anything with cryptocurrencies.
And then you said you Google the list best places to buy Bitcoin in 2021. Coinbase. I would recommend. Robinhood but you can’t transfer it so you got to be careful of Robinhood. You can’t transfer out of Robinhood and as you sell it. That makes no sense.
BlockFi does have good interest on borrowing. I think borrowing it’s like 7 and half rate percent. i haven’t heard of that one, that one. eToro I don’t know if I would go there.
I’ve never mess around with Coinmama or Bisq. I would focus on Coinbase and Gemini and BlockFi. And I have had a lot of experience with Kraken but Kraken is a harder platform to execute on.
So I would recommend Coinbase but I’ll go Coinbase pro. Coinbase pro your commissions won’t be as high as Coinbase.
And usually you open up a coinbase account you automatically get a coinbase pro account but it’s not something that they actively advertise.
So I would open up a coinbase account or a coinbase pro or a Gemini and go there.
Johnny aussie is doing a special webinar on How to Predict Explosive Moves by Following Insiders! Tuesday, March 9th at 8:15 PM EST. I’m going to HYPERLINK you to the registration page.
All you have to do is scroll down here and look the headlines or the bulletpoints that he’s going to be discussing.
Good luck. Hope it helps. See you on the next video.
Hubert.
