Crypto , Digital Currency Trading , Forex

KavinduTM wrote:

kasun_gimhana wrote:

KavinduTM wrote:Yes @ingreed2020, It is a safe site.

@KavinduTM how are you buying crypto now? Because all cards blocked now

@kasun_gimhana I use PayPal to deposit money.

kasun_gimhana wrote:

KavinduTM wrote:

kasun_gimhana wrote:

KavinduTM wrote:Yes @ingreed2020, It is a safe site.

@KavinduTM how are you buying crypto now? Because all cards blocked now

@kasun_gimhana I use PayPal to deposit money.

@KavinduTM Which exchange allows you to deposit money using paypal. Because I didn't see any option in binance

Teller wrote:Who wants to buy it ? We can help

Teller wrote:Who wants to buy it ? We can help

roshan1039 wrote:This is very high risk thing to do, I invested in 2017 before bitcoin reach USD 20000+
I personally know some people lost their complete account some were hacked and robbed.
You dont have any guarantee on your money
No body is taking responsiblity of your money.
If you invest in stock market the risk is comparatively less. You have a responsible organization to check what happened to your money.
Do not dump your hard earned money in unknown places, you will loose.

Miss-Sangeetha wrote:Crypto, Digital currency, forex trading by individual, prohibited by Central Bank of Sri Lanka & Sri Lankan Statuary Law, If any thing went wrong no legal action could be taken. If any one using foreign facilities, in the event of scam, taking legal action cost fee is higher than these trade gain.


Most of the foreign trade access are scam, operated by Nigerian.   

dayandacool wrote:

Miss-Sangeetha wrote:Crypto, Digital currency, forex trading by individual, prohibited by Central Bank of Sri Lanka & Sri Lankan Statuary Law, If any thing went wrong no legal action could be taken. If any one using foreign facilities, in the event of scam, taking legal action cost fee is higher than these trade gain.


Most of the foreign trade access are scam, operated by Nigerian.   

I have tried to inform that the Risk levels are not worth it at the beginning of this thread and there is a reason why CBSL has banned these sort of trading practices. If anyone has ever made big money constantly in these segments, Please come forward. I certainly haven't seen a one!!!

KavinduTM wrote:Someone would say it is too much risk to take to invest in stocks instead of starting a FD in a bank for a fixed gain.

This is just another level of that. Our stock market investors think it is too risky to invest in crypto. If you think it is too risky, avoid it. No one forces you to invest. But don't forget there are so many people out there who earns a lot from crypto as same as people earning from stock market.

Also keep in mind that risk takers are leading this world. There's nothing without a risk. Everything comes with a risk. But you have a choice to take it or avoid it. That's it. They are just levels that you think "safe". Nothing and no one was "safe" ever.

roshan1039 wrote:Forums are there to debate and share ideas, someone can tell this is good that is good. Others will have different ideas.
If we share our views only someone can understand, otherwise just because we dont like to take that risk we cannot keep our mouth shut.
I have experienced crypto well, because of my experiences i dont recommend it.
Thats my view, there are number of reasons for that:
You dont have any responsible organization taking accountability of your money, if it is stolen its gone.
It is banned in sri lanka.
There are ways to deposit money but with lot of transaction costs and risks.
Then these are very sensitive to mkt news, if u invest u have to be very alert otherwise following u lost 100%
There is a posibility some accounts get blocked and you wont be able to secure it back.
If someone thinking of investing in crypto u have to master the trading and the platform you are going to use.
Remember you must be a master of trading.
If not forget crypto is my recommendation.

kasun_gimhana wrote:Crypto is your safety net. Nobody can control it even the government. That's is the beauty of it. If somebody says crypto can go zero then gold also can go to zero. there is huge volatility. But I can say bitcoin never goes to zero again. because to mine 1-bitcoin current, the cost is 8000 USD. So how it can go to zero. There is a hacking risk but you can avoid it using hardware wallets. Never keep a big amount in exchange. Bitcoin is the future. it holds value nobody can print it. But bitcoin is not an investment for me it just a safety net. There are different crypto some of them call stable coin which has asset back.  Keeping 1% -5% net asset in bitcoin and Ethereum you can sleep well.

dayandacool wrote:

kasun_gimhana wrote:Crypto is your safety net. Nobody can control it even the government. That's is the beauty of it. If somebody says crypto can go zero then gold also can go to zero. there is huge volatility. But I can say bitcoin never goes to zero again. because to mine 1-bitcoin current, the cost is 8000 USD. So how it can go to zero. There is a hacking risk but you can avoid it using hardware wallets. Never keep a big amount in exchange. Bitcoin is the future. it holds value nobody can print it. But bitcoin is not an investment for me it just a safety net. There are different crypto some of them call stable coin which has asset back.  Keeping 1% -5% net asset in bitcoin and Ethereum you can sleep well.

Google the number of Crypto currencies that have become obsolete and thus have become "zero". Those too had visionary investors following and investing on them. Since you brought up the Gold issue, don't remember a time that the value of gold has become zero. It's all relative. All I say is Crypto is relatively a very huge risky deal!!! 

kasun_gimhana wrote:

dayandacool wrote:

kasun_gimhana wrote:Crypto is your safety net. Nobody can control it even the government. That's is the beauty of it. If somebody says crypto can go zero then gold also can go to zero. there is huge volatility. But I can say bitcoin never goes to zero again. because to mine 1-bitcoin current, the cost is 8000 USD. So how it can go to zero. There is a hacking risk but you can avoid it using hardware wallets. Never keep a big amount in exchange. Bitcoin is the future. it holds value nobody can print it. But bitcoin is not an investment for me it just a safety net. There are different crypto some of them call stable coin which has asset back.  Keeping 1% -5% net asset in bitcoin and Ethereum you can sleep well.

Google the number of Crypto currencies that have become obsolete and thus have become "zero". Those too had visionary investors following and investing on them. Since you brought up the Gold issue, don't remember a time that the value of gold has become zero. It's all relative. All I say is Crypto is relatively a very huge risky deal!!! 

I'm not saying gold going to zero. I'm trying to say the same applies to bitcoins. Cryptocurrencies can go to Zero but not bitcoin. Why gold does not gong to zero because it has scarcity. The same applies to bitcoin. supply is limited to 21 million. even gold doesn't have that kind of limitation. can we buy virtual gold in Srilanka? But there is coin backed by gold you can buy them in the crypto world. Understand the new system weakness of the current monetary system, governments in the entire world printing money in thin air.

dayandacool wrote:

kasun_gimhana wrote:

dayandacool wrote:

kasun_gimhana wrote:Crypto is your safety net. Nobody can control it even the government. That's is the beauty of it. If somebody says crypto can go zero then gold also can go to zero. there is huge volatility. But I can say bitcoin never goes to zero again. because to mine 1-bitcoin current, the cost is 8000 USD. So how it can go to zero. There is a hacking risk but you can avoid it using hardware wallets. Never keep a big amount in exchange. Bitcoin is the future. it holds value nobody can print it. But bitcoin is not an investment for me it just a safety net. There are different crypto some of them call stable coin which has asset back.  Keeping 1% -5% net asset in bitcoin and Ethereum you can sleep well.

Google the number of Crypto currencies that have become obsolete and thus have become "zero". Those too had visionary investors following and investing on them. Since you brought up the Gold issue, don't remember a time that the value of gold has become zero. It's all relative. All I say is Crypto is relatively a very huge risky deal!!! 

I'm not saying gold going to zero. I'm trying to say the same applies to bitcoins. Cryptocurrencies can go to Zero but not bitcoin. Why gold does not gong to zero because it has scarcity. The same applies to bitcoin. supply is limited to 21 million. even gold doesn't have that kind of limitation. can we buy virtual gold in Srilanka? But there is coin backed by gold you can buy them in the crypto world. Understand the new system weakness of the current monetary system, governments in the entire world printing money in thin air.

I agree that the monetary system has it's weaknesses and not backed by collateral. But at least it's legal tender. Which crypto is backed by Gold?? I am unaware of that. Even the US dollar is not backed by gold but it's just legal tender. and that's my point. at least it's legal tender. There is a responsible government behind the bill. (Previously the usd was redeemed by gold but now not)

On one good summer night, you go to sleep and you wake up to see the algorithms have taken you for a nice ride!!!

Not to say that governments don't fail. But I would back a crypto to fail anyday over a legitimate government being bankrupt!!!

RJ1010 wrote:I don’t know about you guys but today made huge profits from XRP. Tokens placed safely in Nexo wallet to get daily interest

Need to thank @TellersAcademy for his tips

Miss-Sangeetha wrote:Crypto, Digital currency, forex trading by individual, prohibited by Central Bank of Sri Lanka & Sri Lankan Statuary Law, If any thing went wrong no legal action could be taken. If any one using foreign facilities, in the event of scam, taking legal action cost fee is higher than these trade gain.


Most of the foreign trade access are scam, operated by Nigerian.   

Miss-Sangeetha wrote:Crypto, Digital currency, forex trading by individual, prohibited by Central Bank of Sri Lanka & Sri Lankan Statuary Law, If any thing went wrong no legal action could be taken. If any one using foreign facilities, in the event of scam, taking legal action cost fee is higher than these trade gain.


Most of the foreign trade access are scam, operated by Nigerian.   

kasun_gimhana wrote:

Miss-Sangeetha wrote:Crypto, Digital currency, forex trading by individual, prohibited by Central Bank of Sri Lanka & Sri Lankan Statuary Law, If any thing went wrong no legal action could be taken. If any one using foreign facilities, in the event of scam, taking legal action cost fee is higher than these trade gain.


Most of the foreign trade access are scam, operated by Nigerian.   

Please show us any document from the central bank that prohibiting Cryptocurrency investment ...

geesura wrote:

kasun_gimhana wrote:

Miss-Sangeetha wrote:Crypto, Digital currency, forex trading by individual, prohibited by Central Bank of Sri Lanka & Sri Lankan Statuary Law, If any thing went wrong no legal action could be taken. If any one using foreign facilities, in the event of scam, taking legal action cost fee is higher than these trade gain.


Most of the foreign trade access are scam, operated by Nigerian.   

Please show us any document from the central bank that prohibiting Cryptocurrency investment ...

[url=http://archive.cmb.ac.lk:8080/research/bitstream/70130/4586/1/FOREX TRADING AS A PART TIME EARNING OPPORTUNITY AND AS A METHOD OF EARNING FOREIGN CURRENCY - A PRIMARY STUDY DONE IN SRI LANKAN CONTEXT.pdf]http://archive.cmb.ac.lk:8080/research/bitstream/70130/4586/1/FOREX%20TRADING%20AS%20A%20PART%20TIME%20EARNING%20OPPORTUNITY%20AND%20AS%20A%20METHOD%20OF%20EARNING%20FOREIGN%20CURRENCY%20-%20A%20PRIMARY%20STUDY%20DONE%20IN%20SRI%20LANKAN%20CONTEXT.pdf[/url]

this is not from central bank though.

geesura wrote:

RJ1010 wrote:I don’t know about you guys but today made huge profits from XRP. Tokens placed safely in Nexo wallet to get daily interest

Need to thank @TellersAcademy for his tips

u know why businesses give free samples? 

I also made a huge profit from IQ option 1year ago it was like 98%gain then I invested more the next day again I got 98%gain but that was my last day trading forex just a single trade ate all my money.
forex trading is a gold mine as well as a grave.
but I'm looking forward to investing in forex/crypto cuz we need to adapt to the technology but need to be more confident, educated in it cuz every dollar we lose is not only our money but our country's.

anyway, I'm not negative about forex trading or cryptocurrencies it's the future. but we need to extra cautious 
when trading cuz as I said money we loose is not only ours

JUST MY OPINION

kasun_gimhana wrote:

geesura wrote:

kasun_gimhana wrote:

Miss-Sangeetha wrote:Crypto, Digital currency, forex trading by individual, prohibited by Central Bank of Sri Lanka & Sri Lankan Statuary Law, If any thing went wrong no legal action could be taken. If any one using foreign facilities, in the event of scam, taking legal action cost fee is higher than these trade gain.


Most of the foreign trade access are scam, operated by Nigerian.   

Please show us any document from the central bank that prohibiting Cryptocurrency investment ...

[url=http://archive.cmb.ac.lk:8080/research/bitstream/70130/4586/1/FOREX TRADING AS A PART TIME EARNING OPPORTUNITY AND AS A METHOD OF EARNING FOREIGN CURRENCY - A PRIMARY STUDY DONE IN SRI LANKAN CONTEXT.pdf]http://archive.cmb.ac.lk:8080/research/bitstream/70130/4586/1/FOREX%20TRADING%20AS%20A%20PART%20TIME%20EARNING%20OPPORTUNITY%20AND%20AS%20A%20METHOD%20OF%20EARNING%20FOREIGN%20CURRENCY%20-%20A%20PRIMARY%20STUDY%20DONE%20IN%20SRI%20LANKAN%20CONTEXT.pdf[/url]

this is not from central bank though.

Forex trading and Cryptocurrency are two different things by the way As far as I'm concern this is the only document published by CBSL about cryptocurrency.

Read it. https://www.cbsl.gov.lk/en/news/public-awareness-on-virtual-currencies-in-sri-lanka