I dipped my pinky toenail into the crypto phenomenon and bought 316 Ripple last week with a portion of my Christmas bonus.
Yesterday was EXTREE NICE!!
Buying Ripple (XRP) is a convoluted thing, though. I wanted to just buy some with PayPal since that's where I keep my play money. Nothing doing, though... no cryptocurrency sites accept PayPal.
I had to:
Open an account on Coinbase.
Attach my credit card.
Buy Bitcoin with my credit card, which sounds like an incredibly horrible idea that this would even be allowed... I can see stoopid people doing stoopid things!
(I realize now that I could have bought Ethereum & done this convoluted process with considerably lower fees... if anyone follows this to make their purchases, use ethereum instead!)
Open an account at Binance.
Transfer the Bitcoin from Coinbase to Binance (ouch transfer fees! and BTC dropped considerably while I was waiting for the transfer to complete)
Use the transferred Bitcoin to buy Ripple on Binance. I think there was a fee on this, too.... don't remember. Seems like there were fees charged on the fees during this process!!
Basically the $400 I put on my card turned into $316 worth of XRP... since it was trading at right at $1 when I bought in.
I transferred some money immediately and paid off my card, and transferred the $400 from Paypal to that account, so really nothing different than just buying it with Paypal... but whatever...
I'm resisting the urge to put any more money in it and really if I didn't try out this crypto thing on a lark, I was just going to buy 20 more ounces of silver with that money. Silver had a decent day yesterday, too, but nothing like XRP.
I haven't checked the price yet today, it's probably down 50%
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