Crypto , Digital Currency Trading , Forex

KavinduTM wrote:

jason12 wrote:

RJ1010 wrote:

KavinduTM wrote:Congratz who still holds BNB

Fantastic times for most of the coins.
I have gone all in on Nexo.. 190k investment now sitting at 680k within 3 months 🤩

rj1010,

is it safe to invest? are there any legal barriers to trade from sl?

if u can just PM.

Thanks

It cannot be said its "safe" to invest. As always there's a risk. But if you are looking forward for an opinion. I'll say its safe.
Yes there are some restrictions, so you can't buy crypto just using your sl bank visa card. 

Using P2P method, PayPal worked for me.

Yes Kevinmikegrit wrote:The issue with crypto for Sri Lankans is not how to make huge returns, because if you hold the right set of coins for certain periods you could easily double, triple or even quadruple your investment. But the issue is getting the funds back into the island. I would say if you can hold for another 5 - 6 years the invest into crypto. Or else it will be very hard to get the funds in legally. Down the line even the Sri Lankan government has to accept that crypto is the future. But as we very well know, our government will be very slow to realise that.

RJ1010 wrote:

Yes Kevinmikegrit wrote:The issue with crypto for Sri Lankans is not how to make huge returns, because if you hold the right set of coins for certain periods you could easily double, triple or even quadruple your investment. But the issue is getting the funds back into the island. I would say if you can hold for another 5 - 6 years the invest into crypto. Or else it will be very hard to get the funds in legally. Down the line even the Sri Lankan government has to accept that crypto is the future. But as we very well know, our government will be very slow to realise that.

True. As a country we are far lagging in almost all spheres. The youth and the financially literate are denied investing in foreign markets and crypto, forex markets. Could have easily become an avenue to bring in dollars to the country. Instead they are concerned money going out of the country through trading!!! For gods sake people invest to earn, and after taking profits they bring the money back into the country! Very backward thinking.

During last 3 days alone I took a profit of 150k after trading 300k on Binance futures. If done right trading on crypto or even investing in crypto can give huge returns. If not done right you can lose as well. Same is true in stock markets. Volatility is everywhere. Volatility is also the friend of traders

Kevinmikegrit wrote:

RJ1010 wrote:

Yes Kevinmikegrit wrote:The issue with crypto for Sri Lankans is not how to make huge returns, because if you hold the right set of coins for certain periods you could easily double, triple or even quadruple your investment. But the issue is getting the funds back into the island. I would say if you can hold for another 5 - 6 years the invest into crypto. Or else it will be very hard to get the funds in legally. Down the line even the Sri Lankan government has to accept that crypto is the future. But as we very well know, our government will be very slow to realise that.

True. As a country we are far lagging in almost all spheres. The youth and the financially literate are denied investing in foreign markets and crypto, forex markets. Could have easily become an avenue to bring in dollars to the country. Instead they are concerned money going out of the country through trading!!! For gods sake people invest to earn, and after taking profits they bring the money back into the country! Very backward thinking.

During last 3 days alone I took a profit of 150k after trading 300k on Binance futures. If done right trading on crypto or even investing in crypto can give huge returns. If not done right you can lose as well. Same is true in stock markets. Volatility is everywhere. Volatility is also the friend of traders

That's very true. Our country is now even more backwards than most bankrupt nations ‍

dayandacool wrote:How are our BTC lovers faring after Elon Musk's statement?? Not great I suppose. If any consolation, you are not losing any opportunities here in CSE as situation is almost same even though it hasn't dropped by 50 %.

RJ1010 wrote:

dayandacool wrote:How are our BTC lovers faring after Elon Musk's statement?? Not great I suppose. If any consolation, you are not losing any opportunities here in CSE as situation is almost same even though it hasn't dropped by 50 %.

It doesn’t really matter for smart investors as shorting is possible in crypto. So which ever way the price goes oppotunity is there.

People who have trading experience can get massive profit in this volatility. Having said that inexperienced folks will lose big time as well.

dayandacool wrote:

RJ1010 wrote:

dayandacool wrote:How are our BTC lovers faring after Elon Musk's statement?? Not great I suppose. If any consolation, you are not losing any opportunities here in CSE as situation is almost same even though it hasn't dropped by 50 %.

It doesn’t really matter for smart investors as shorting is possible in crypto. So which ever way the price goes oppotunity is there.

People who have trading experience can get massive profit in this volatility. Having said that inexperienced folks will lose big time as well.

What u say is true. How ever, how many of those traders dared to short BTC when BTC was in it's prime?

RJ1010 wrote:

dayandacool wrote:

RJ1010 wrote:

dayandacool wrote:How are our BTC lovers faring after Elon Musk's statement?? Not great I suppose. If any consolation, you are not losing any opportunities here in CSE as situation is almost same even though it hasn't dropped by 50 %.

It doesn’t really matter for smart investors as shorting is possible in crypto. So which ever way the price goes oppotunity is there.

People who have trading experience can get massive profit in this volatility. Having said that inexperienced folks will lose big time as well.

What u say is true. How ever, how many of those traders dared to short BTC when BTC was in it's prime?

Not many no body expected the barrage of bombs to drop on BTC and crypto in general when it was super bullish few weeks back.
Now that the trend is bearish for the short term due to many negative news in crypto space people are adjusting their trading strategies.

Aweej wrote:Why nobody talks about Crypto these days? New billionaire tokens like safe moon and Shiba

dayandacool wrote:Crypto crash has not only taken down the sprats, it has dragged the sharks too along with it. Be careful guys, It could wipe out 90 % of your capital overnight.

https://www.forbes.com/sites/jonathanponciano/2021/06/17/mark-cuban-backed-cryptocurrency-crashed-100-in-one-day-and-these-other-buzzy-tokens-have-also-collapsed/?sh=470274e78cba

KavinduTM wrote:Its been a while boys, im pretty sure ya all are doing good

RJ1010 wrote:

KavinduTM wrote:Its been a while boys, im pretty sure ya all are doing good

Hey Kavindu welcome back… crypto doing well
Lot of folks have moved discussions to WhatsApp groups and Twitter. Not too active in the forums.

KavinduTM wrote:

RJ1010 wrote:

KavinduTM wrote:Its been a while boys, im pretty sure ya all are doing good

Hey Kavindu welcome back… crypto doing well
Lot of folks have moved discussions to WhatsApp groups and Twitter. Not too active in the forums.

 
Oh really, i was wondering where's the old crew xD, yeah crypto is going well. had an all eggs in one basket shot in shib.

RJ1010 wrote:U

KavinduTM wrote:

RJ1010 wrote:

KavinduTM wrote:Its been a while boys, im pretty sure ya all are doing good

Hey Kavindu welcome back… crypto doing well
Lot of folks have moved discussions to WhatsApp groups and Twitter. Not too active in the forums.

 
Oh really, i was wondering where's the old crew xD, yeah crypto is going well. had an all eggs in one basket shot in shib.

All in on Shib! Wow that’s a bold move and paid off handsomely I’m guessing $$$ well done

KavinduTM wrote:

RJ1010 wrote:U

KavinduTM wrote:

RJ1010 wrote:

KavinduTM wrote:Its been a while boys, im pretty sure ya all are doing good

Hey Kavindu welcome back… crypto doing well
Lot of folks have moved discussions to WhatsApp groups and Twitter. Not too active in the forums.

 
Oh really, i was wondering where's the old crew xD, yeah crypto is going well. had an all eggs in one basket shot in shib.

All in on Shib! Wow that’s a bold move and paid off handsomely I’m guessing $$$ well done

Yeah that really paid off for the risk, worthy trade. Btw I'm happy to see you doing well RJ, so how's it lately with crypto? Do u use binance futures or staking?