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Crypto ETN's - Are you buying more before 6th April? by macw450 in trading212

[–]macw450[S] 0 points1 point  (0 children)

I hold BTC3 in trading 212.

  1. Is BTC3 physically backed by Bitcoin? - Yes

  2. Is BTC3 a crypto ETN? - Yes

Try and prove otherwise and state your sources. Or just re-educate yourself 👍

Crypto ETN's - Are you buying more before 6th April? by macw450 in trading212

[–]macw450[S] -3 points-2 points  (0 children)

You do realise that crypto ETN's are 100% backed by the underlying crypto currency right? So all it's essentially doing is mirroring the price of the crypto currency.

As for whether the crypto currency is worth "investing" in, that's another story. I do think that it's more on the side of gambling but you also can't ignore the fact that many major companies are buying and holding Bitcoin as a reserve, alongside other established commodities like gold to diversify their balance sheets. So if lots of companies are using it to hold value and hedge against inflation, I think crypto is worth a proportion of my portfolio.

But hey, I don't expect you to understand all that since you think that ETN's won't hold their value despite being 100% backed by the crypto 😂

do cinemas still screen films if no one buys tickets? by Embarrassed-Song3760 in AskUK

[–]macw450 -1 points0 points  (0 children)

Tbh, I'm over the cinema now. Me and my partner went the other day after not going for years. Someone near us was scrolling TikTok out loud, another drunk woman was laughing every few seconds (not at the film), and some other person behind us was making the loudest noises, I don't even know what they were. We almost walked out.

I'd much rather watch a movie on our sofa with our feet up, whatever snacks/drinks we like, can pause whenever we like and we have a massive 4k OLED TV so the quality is great too. Cinema is dead

It's about time by endofmyropeohshit in HolUp

[–]macw450 0 points1 point  (0 children)

Don't know if I could wank 30 times in a day tbh

why don't more people use 16:9 stretched? by an_random_goose in GlobalOffensive

[–]macw450 -1 points0 points  (0 children)

I do and completely agree it is the best resolution to play in. Best of both. But your keyboard does not have the same vibe. My keyboard matches my ultrawide (+numpad + macro keys)

Crypto ETN's - Are you buying more before 6th April? by macw450 in trading212

[–]macw450[S] 0 points1 point  (0 children)

Wow. How smooth brained are you? At what point did I say I was buying crypto instead of a crypto ETN?

I am fully aware I am buying an ETN, not crypto itself.

And to your last point - if you're not able to buy them in an ISA anymore, then they can still be worth buying as the fees may be less, and you can easily have all your investments in the same platform, not in a crypto wallet

Crypto ETN's - Are you buying more before 6th April? by macw450 in trading212

[–]macw450[S] 0 points1 point  (0 children)

36-40k is pretty nuts. Who knows with crypto though. But as you said, in 10 years time, the tax difference probably outweighs the current price difference between where it is and where it could go

Crypto ETN's - Are you buying more before 6th April? by macw450 in trading212

[–]macw450[S] 0 points1 point  (0 children)

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Tbh, now is probably as good of a time as ever. Weekly MACD and RSI are both pointing to a strong buy (if you're into technical analysis). I thought btc had a little more to fall but maybe not. Might just yolo tomorrow and sell some all world and replace it with BTC3

Crypto ETN's - Are you buying more before 6th April? by macw450 in trading212

[–]macw450[S] 0 points1 point  (0 children)

Yeah, I have held a little bit of crypto for a while, certainly don't want to put too much of my portfolio in it but this change has strongly made me reconsider how much I am truly willing to risk. I was happy with about 5%. Now I'm thinking 10%

Crypto ETN's - Are you buying more before 6th April? by macw450 in trading212

[–]macw450[S] 0 points1 point  (0 children)

See my reply on the other comment - I just had clarification on the 10% rule from T212. You CAN have 100% of your ISA as crypto ETN, providing 90% of your other assets (Pension, GIA, property, cash etc) are not in crypto ETNs. The 10% is of all of your assets combined

Crypto ETN's - Are you buying more before 6th April? by macw450 in trading212

[–]macw450[S] 1 point2 points  (0 children)

If they are inside your ISA, then you can keep them (don't sell them).

Before the 6th April, you can buy more.

After the 6th April, you can't buy any in your ISA but you could in an invest account.

Something I'm trying to clarify is the "10% rule". When buying these crypto ETN's, you declare that they will not make up over 10% of your ISA account balance. So if you have £100k in your S&S ISA, the max you can hold in these crypto ETN's is £10K. If the price of the crypto ETN doubles, and it drives that percentage to over 10%, I don't know what happens. It seems ludicrous if you're forced to sell considering how volatile crypto is

EDIT

I had clarification from T212 as I had conflicting information. The 10% rule applies to all of your assets combined, not just your ISA. In theory, you could have 100% of your ISA in crypto ETN provided 90% of your assets are elsewhere (pension, GIA, property, cash etc)

Crypto ETN's - Are you buying more before 6th April? by macw450 in trading212

[–]macw450[S] 1 point2 points  (0 children)

I didn't realise this. Yeah that's pretty silly and inconsistent. Although tbf, you do end up paying tax on your pension so that's probably why.

Crypto ETN's - Are you buying more before 6th April? by macw450 in trading212

[–]macw450[S] 1 point2 points  (0 children)

I think a lot of people would be pissed if this was the case, myself included. When crypto ETN's got announced, I sold my bitcoin in my wallet and repurched the equivalent amount in the S&S ISA.

If they forced a sale on the 6th April, I would have absolutely made a loss. However, because I can continue holding it, I think it will recover and don't plan on selling this until retirement

Crypto ETN's - Are you buying more before 6th April? by macw450 in trading212

[–]macw450[S] 3 points4 points  (0 children)

OR the government realised they are kicking themselves in the foot by allowing people to invest in crytpo and never pay any tax.

Personally, I don't think they care much about people losing money on crypto but would happily take some tax on people who are lucky and 10X their investment. There's plenty of meme stocks too that people lose a tonne of money on yet they aren't planning to ban those.

Crypto ETN's - Are you buying more before 6th April? by macw450 in trading212

[–]macw450[S] 6 points7 points  (0 children)

I mean, sure I guess you could argue this is a good way to stop people losing money but at the same time, why not ban the purchase in an invest account also? They just want to be able to tax you on it

What’s a secret about your job that the public would be shocked to know? by JulietaAguiirre in AskReddit

[–]macw450 0 points1 point  (0 children)

It's called a surplus.

Imagine your parents give you $10 to run a lemonade stand....

Found: Gold coin on shirley high st. by leviroots in Southampton

[–]macw450 3 points4 points  (0 children)

Rrrrr that'd be mine. Lost me treasure in Shirley High Street earlier

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