I Bought Two ETFs Connected To Cryptos, Would You?

OneEyedDiva

Well-known Member
Location
New Jersey
What has Cryto done in the past six months versus the first six months it became available?? I avoid things I know nothing about.
FM do you mean the coins themselves (there are several) or the ETFs connected to them? There's a big difference in performance prices. Eg: If you're asking about Bitcoin (the "father" of crypto coins), here are some snippets from an article that gives it's price history:
"Bitcoin first started trading from around $0.0008 to $0.08 per coin in July 2010.
in 2011. Bitcoin's price jumped from $1 in April of that year to a peak of $32 in June, a gain of 3,200% within three short months.

What is the highest price Bitcoin has reached?

Bitcoin reached a price of $64,863 on April 14, 2021."
More detailed info here: https://www.investopedia.com/articl...-price-history.asp#bitcoins-price-history-faq

Bitcoin's current price is $45,199.44. The price just jumped over $1,000 in the few seconds I was looking it up to post here! I use Brave browser sometimes and it's homepage has a section that shows the current prices of the major crypto coins in real time.
 

caroln

Member
We sure do live in different worlds! I don't have a clue what any of you are talking about. o_O Definitely beyond my range of experience!
 

OneEyedDiva

Well-known Member
Location
New Jersey
We sure do live in different worlds! I don't have a clue what any of you are talking about. o_O Definitely beyond my range of experience!
Crypto coins can be hard to wrap one's head around. I didn't understand them at all when I first started hearing and reading about Bitcoin. But I wished I had jumped in. I might be a Bitcoin millionaire if I had. The ETFs that I mentioned above that (sort of) track the crypto coins are easier to deal with for me because I have bought other ETFs, which are like mutual funds in one sense and stocks in another. If you care to learn a little more about what we're discussing here read this relative short, easy to comprehend article:
https://www.investopedia.com/investing/understanding-cryptocurrency-etfs/
 

caroln

Member
I read the article you linked. I used to have some money in the stock market years ago in something called Lord Abbott. Is that considered an ETF? Anyway, it seems my core problem to understanding all this is I don't know how virtual money can be real money. Bitcoin is virtual, right?

I also had some money in Fanny Mae and Freddy Mac. Had...is the operative word. It took me 10 years to get my initial investment back and when I did I left the party.
 

OneEyedDiva

Well-known Member
Location
New Jersey
I read the article you linked. I used to have some money in the stock market years ago in something called Lord Abbott. Is that considered an ETF? Anyway, it seems my core problem to understanding all this is I don't know how virtual money can be real money. Bitcoin is virtual, right?

I also had some money in Fanny Mae and Freddy Mac. Had...is the operative word. It took me 10 years to get my initial investment back and when I did I left the party.I
Yes Bitcoin is virtual currency but the ETFs I mentioned are not. They are real investments made with real money. Fixed income investments alone are not enough to keep pace with inflation. Having all fixed and no riskier but more rewarding investments (stocks, mutual funds, ETFs) could be why it took you so long to recoup your money. Either that or your investments just didn't do well.

I had heard about Fanny Mae & Freddy Mac having problems years ago but I never heard of Lord Abbott. Lord Abbett is not an ETF but an investment firm and I saw no evidence of ETFs being sold by the firm. I researching the company on it's website and Wikipedia; this is what I gathered. They are not a full service brokerage. They managed about 246 billion dollars as of June 2021 and have global offices as well as one in Jersey City, N.J. This is from Wikipedia:
"Lord Abbett is a privately owned, limited liability company with 752 employees and 155 investment professionals as of May 2021.[19] The firm manages mutual funds that invest in global and domestic stocks along with fixed-income, tax-free income, and multi-asset securities.[20] The firm expanded into the equities market in 2019 with three new funds.[21] The firm focuses solely on actively managed investment portfolios. Lord Abbett’s strategies are available within separate and sub-advised accounts, commingled and mutual funds, and managed account platforms.[22]

Funds managed by the firm include the Lord Abbett Income Fund (investing in high-quality bonds), the Lord Abbett Affiliated Fund (investing in large-cap, high quality dividend-paying stocks), Lord Abbett Bond Debenture Fund (investing in below-investment-grade bonds), the Lord Abbett Developing Growth Fund (focusing on small-cap stock management), and the Lord Abbett Mid Cap Stock Fund (investing in high-growth, medium-sized companies), and a Climate Focused Bond Fund (investing in bonds issued by companies that are focusing on environmental, social, and governance (ESG). [23]"
 

caroln

Member
Yes Bitcoin is virtual currency but the ETFs I mentioned are not. They are real investments made with real money. Fixed income investments alone are not enough to keep pace with inflation. Having all fixed and no riskier but more rewarding investments (stocks, mutual funds, ETFs) could be why it took you so long to recoup your money. Either that or your investments just didn't do well.

I had heard about Fanny Mae & Freddy Mac having problems years ago but I never heard of Lord Abbott. Lord Abbett is not an ETF but an investment firm and I saw no evidence of ETFs being sold by the firm. I researching the company on it's website and Wikipedia; this is what I gathered. They are not a full service brokerage. They managed about 246 billion dollars as of June 2021 and have global offices as well as one in Jersey City, N.J. This is from Wikipedia:
"Lord Abbett is a privately owned, limited liability company with 752 employees and 155 investment professionals as of May 2021.[19] The firm manages mutual funds that invest in global and domestic stocks along with fixed-income, tax-free income, and multi-asset securities.[20] The firm expanded into the equities market in 2019 with three new funds.[21] The firm focuses solely on actively managed investment portfolios. Lord Abbett’s strategies are available within separate and sub-advised accounts, commingled and mutual funds, and managed account platforms.[22]

Funds managed by the firm include the Lord Abbett Income Fund (investing in high-quality bonds), the Lord Abbett Affiliated Fund (investing in large-cap, high quality dividend-paying stocks), Lord Abbett Bond Debenture Fund (investing in below-investment-grade bonds), the Lord Abbett Developing Growth Fund (focusing on small-cap stock management), and the Lord Abbett Mid Cap Stock Fund (investing in high-growth, medium-sized companies), and a Climate Focused Bond Fund (investing in bonds issued by companies that are focusing on environmental, social, and governance (ESG). [23]"
Yeah, I was (am) pretty conservative. Guess that's why it took me so long to get my initial investment back. Considering my limited knowledge about stocks, etc., it seems like a good idea for me NOT to go in that direction! My annuity doesn't earn much, but at least my money won't be wiped out again! Can't afford that at my age.
 

OneEyedDiva

Well-known Member
Location
New Jersey
You should read the Robinhood statement...they can do things that aren't normally kosher for listed stocks. For instance the investor shares don't have to be held for 6 months...other issues remind me of a "pump and dump". Too many questions. Like what might management just decide to do and do it. It closed almost 10% below the opening of $38 bucks.
We'll see but its too kinky for my favor anyway.
I guess I should say "Never say never". I had previously said I'd never use Robinhood. My honorary son called me last week and we had a talk about investing. He's into cryptos now and opened a few accounts to trade them. One he touted was Robinhood which gives one share of a random stock when you sign up...and if through (his) link, he gets another too. He bought Dogecoin at 18 cents a share. Feeling ever remorseful that I didn't get in on Bitcoin when it was below a dollar, I started thinking maybe for the hell of it, I should buy some Dogecoin too. The last time I bought something "for the hell of it", I didn't buy enough shares. It was Facebook and it's up 902%.

I had a problem signing up with Robinhood at first because the most prominently dispayed method was linking your accounts by giving Plaid, the company Robinhood uses, your bank log in and password. I'm not comfortable doing that which is why I never used financial management apps like Mint. Anyway, I emailed customer service and I got the option to wait 24 hours for a response or have a representative call me back in 30 minutes. I chose the latter. I got a call before the 30 minutes was up. The rep was very nice and very helpful. She guided me through how to link my account like every other financial institution I've dealt with does it. That is to give the checking and routing number and wait for two small deposits which are used to verify the account. She even sent an email so that if I have any other questions or issues I can email her.

I feel the customer service was excellent...just the opposite of Coinbase. So it's not just "an app" like I thought; I read info and signed up on their website. Also there are extra security measures in place like two factor identification and emails about my logins. So I will drop about $100 for Dogecoin after I verify my account if it hasn't gone up too much. The day I signed up, it was 24 cents. The day I spoke with the rep it was 15 cents. I'd love to get shares somewhere between those two prices.
@Pecos
 
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Liberty

Well-known Member
Location
Texas
I guess I should say "Never say never". I had previously said I'd never use Robinhood. My honorary son called me last week and we had a talk about investing. He's into cryptos now and opened a few accounts to trade them. One he touted was Robinhood which gives one share of a random stock when you sign up...and if through (his) link, he gets another too. He bought Dogecoin at 18 cents a share. Feeling ever remorseful that I didn't get in on Bitcoin when it was below a dollar, I started thinking maybe for the hell of it, I should buy some Dogecoin too.
The last time I bought something "for the hell of it", I didn't buy enough shares. It was Facebook and it's up 902%.

I had a problem signing up with Robinhood at first because one of the methods of linking your accounts is giving them (Plaid, the company Robinhood uses) your bank log in and password. I'm never comfortable doing that which is why I never used financial management apps like Mint. Anyway, I emailed customer service and I got the option to wait 24 hours for a response or have a representative call me back in 30 minutes. I chose the latter. I got a call before the 30 minutes was up. Turns out she was very nice and very helpful. I was able to link my account like every other financial institution I've dealt with does it. That is to give the checking and routing number and wait for two small deposits which are used to verify the account.

I feel the customer service was excellent...just the opposite of Coinbase. So it's not just "an app" like I thought; I read info on and signed up on their website. Also there are extra security measures in place like two factor identification and emails about my logins. So I will drop about $100 for Dogecoin after I verify my account if it hasn't gone up too much. The day I signed up, it was 24 cents. The day I spoke with the rep it was 15 cents. I'd love to get shares somewhere between those two prices.
Yeah, what the heck...might as well give it a try, huh!
 

Liberty

Well-known Member
Location
Texas
OneEyedDiva... thinking about Unity - they are positioned to be the support builder for Metaverse. It will be big and will accept cryptocurrency. Facebook is investing 50 mil into it:

tps://economictimes.indiatimes.com/tech/technology/facebook-invests-50-million-to-build-the-metaverse-in-responsible-manner/articleshow/86563461.cms
 

Granny B.

Senior Member
Location
N. Calif., USA
I just started casually looking into crypto-currency, Ethereum in particular because it can be used to buy/sell NFT (non-fungible token) assets like digital art, photos, etc. Since we create digital art, we thought it might be fun to dabble, but I really know so little. Keep us posted on your experience.

I did find this website where digital art is bought/sold using mostly Ethereum.
OpenSea
 

OneEyedDiva

Well-known Member
Location
New Jersey
I just started casually looking into crypto-currency, Ethereum in particular because it can be used to buy/sell NFT (non-fungible token) assets like digital art, photos, etc. Since we create digital art, we thought it might be fun to dabble, but I really know so little. Keep us posted on your experience.

I did find this website where digital art is bought/sold using mostly Ethereum.
OpenSea
It's funny you mention NFT today! It's a term I was not familiar with when I read an article tonight on Yahoo Finance about Anthony Hopkins new movie being released as NFT. I'm still not following! :unsure:
https://sincecoin.com/news/nft/anthony-hopkins-new-movie-to-be-released-as-nft/
@Liberty Interesting. I see it's up 80% since it's May low and is now heading toward it's high. It's symbol is sure easy to remember. It's simply U. Let me know if you decide to buy some.
 

Granny B.

Senior Member
Location
N. Calif., USA
It's funny you mention NFT today! It's a term I was not familiar with when I read an article tonight on Yahoo Finance about Anthony Hopkins new movie being released as NFT. I'm still not following! :unsure:
https://sincecoin.com/news/nft/anthony-hopkins-new-movie-to-be-released-as-nft/
Interesting article. Thanks for the link. I am still trying to wrap my head around the way it all works. But I think it's gaining some traction. Could just be a flash in the pan, but it also could explode. If only we could see the future.
 

OneEyedDiva

Well-known Member
Location
New Jersey
Love the way Bitcoin bounces around - it can go up or down 1200 bucks on a normal "bounce" daily.
Yup...it sure does. I sold enough shares of GBTC and ETHE ETFs to get back my initial investments. I left the rest there to do their thing. They've been up the last couple of days. I also got wild and crazy and bought $28+ worth od Dogecoin. LOL That's over 120 shares. I'm waiting for it to drop down to about 18 cents to buy more. I intend to only spend $100 for that crypto, which should get me a little more than 525 shares.
 

oldmontana

Member
Location
Montana
Yup...it sure does. I sold enough shares of GBTC and ETHE ETFs to get back my initial investments. I left the rest there to do their thing. They've been up the last couple of days. I also got wild and crazy and bought $28+ worth od Dogecoin. LOL That's over 120 shares. I'm waiting for it to drop down to about 18 cents to buy more. I intend to only spend $100 for that crypto, which should get me a little more than 525 shares.
I also sold some GBTC and wish I had not. Mad money...it's fun to watch. Not that much of CBTC in my account but it's interesting to have a little skin in the game.
 

OneEyedDiva

Well-known Member
Location
New Jersey
I also sold some GBTC and wish I had not. Mad money...it's fun to watch. Not that much of CBTC in my account but it's interesting to have a little skin in the game.
The way the prices bounce around, I'm hoping to be able to pick up more shares when the prices go down, then sell them again like I did last time. You'll probably be able to get back in at a good price eventually. This is the most buying and selling I've done in years. I've been buying but I'm a buy and hold person for the most part with my investments that are not crypto based. It is fun to have "mad money" to play around with.
 

Liberty

Well-known Member
Location
Texas
Yup...it sure does. I sold enough shares of GBTC and ETHE ETFs to get back my initial investments. I left the rest there to do their thing. They've been up the last couple of days. I also got wild and crazy and bought $28+ worth od Dogecoin. LOL That's over 120 shares. I'm waiting for it to drop down to about 18 cents to buy more. I intend to only spend $100 for that crypto, which should get me a little more than 525 shares.
Did you hear about the Coinbase hackings? One couple lost 700 grand.
 

OneEyedDiva

Well-known Member
Location
New Jersey
Did you hear about the Coinbase hackings? One couple lost 700 grand.
No I didn't. WOW...that's a lot of money to lose!! There's likely no way than can recoup it either! I hate Coinbase! I was finally able to get into my account, which has a 0 balance, by using the app. I had to go through some steps. Then it didn't acknowledge my request to close the account but no matter, they won't get a dime out of me. Still no rhyme or reason as to why my account had been restricted. I advised my son to try that method (since his had been restricted too) and get my Litecoin out of his account. I also advised that he get his out too (his account was also restricted) and use Robinhood. Boy I never expected to say that!! We don't have a lot of money in crypto so I didn't understand what the problem was.
 

oldmontana

Member
Location
Montana
No I didn't. WOW...that's a lot of money to lose!! There's likely no way than can recoup it either! I hate Coinbase! I was finally able to get into my account, which has a 0 balance, by using the app. I had to go through some steps. Then it didn't acknowledge my request to close the account but no matter, they won't get a dime out of me. Still no rhyme or reason as to why my account had been restricted. I advised my son to try that method (since his had been restricted too) and get my Litecoin out of his account. I also advised that he get his out too (his account was also restricted) and use Robinhood. Boy I never expected to say that!! We don't have a lot of money in crypto so I didn't understand what the problem was.
I see that GBTC went up over 5% today to $44.68.
 


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