Just Bought some Dogecoin

Just bought some Dogecoin through Kraken for fun with money I can afford to lose.
Didn’t give it much thought (read it was setup as a joke) but after Elon Musk tweeted about it I thought I would see if I can make a bit of cash on it - its £0.04 at the moment and the aim is to get it to £1.:joy:
Doubt it will get there but will be fun to watch and follow and at least I will be able to sell it if I want to so basically it’s safer than my Monzo shares :joy::joy::joy::joy::joy:

I think you might be confusing security and liquidity.


Nope if I want to cash in any profit or get out altogether I can

With Monzo I can’t

Therefore I think it’s safer

It’s still not safer. No crypto is 100% safe and against most T&Cs to buy and sell due to it not being a real currency in the eyes of the law and untraceable.
If your doge coins get stolen theirs no getting them back either

It won’t go up to $1. It got to 0.05 then crashed to 0.01 and slowly back up to 0.03 I don’t think it will go any higher as people think it will - that’s just my opinion

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Is that not the definition of liquidity? Haha

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I never mentioned liquidity ?

Up 20% today so at this rate I might get the money I put in to Monzo back and I will be able to sell if it does go that high

You seem to be saying that, because you can withdraw your money at any time, that makes it a “safer” investment. That’s wrong: it doesn’t necessarily, it just makes it more liquid.

Would you say that Dogecoin is safer than a fixed term or notice savings account? Then a bar of gold?

I could pile all my money up on a fire. Sure, I could try and grab it out again if I think it’s going to start burning. Doesn’t mean it’s safe, though. Or that I’ll manage it in time.

You seem to be going off on a tangent I am comparing Monzo to Dogecoin

But you said that Dogecoin is safer because it’s liquid. I posed a couple of questions to stimulate a bit of reflection on whether that’s actually true.

Dogecoin is safer than investing in crowdfunding that’s for sure and that includes Monzo

I’ve never regarded crowdfunding as investing :face_with_raised_eyebrow:

So it’s not about the ease of getting your money back (liquidity) but the level of risk? That makes sense. I don’t know anything about Dogecoin, but it seems volatile therefore not a particularly ‘safe’ investment.

But each to their own, weighing up risk etc.

I own 414.3 Dogecoin :sweat_smile:

Didn’t break the bank at £15