Today we introduced cryptocurrencies to BUX Zero!


Hi everyone :wave:t4:

It’s the big announcement you’ve been waiting for: You can now start investing in crypto on BUX Zero! Our team worked extremely hard making this happen and we are very proud to present it to you guys :star_struck:

Beginning today, we will be introducing cryptocurrencies to BUX Zero, in a phased rollout to clients in The Netherlands, Belgium, Spain, and Ireland.

A wide range of crypto assets will be available, including Bitcoin, Litecoin, Ethereum, and more. You can now buy and sell crypto commission-free.

And from now on you can manage all your cryptos, stocks, and ETFs from one platform, how cool is that?! :smiley:

Here’s a blog post that we wrote about cryptocurrencies and which might be useful for you if you are new to cryptocurrencies and want to learn more about it.

If you have any feedback for us regarding the big crypto update please let us know! Our team really appreciates all the suggestions from you guys and are very eager to create the best products possible :pray:t4:

Cheers,
Fergus

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Hey there, really happy with the innovative and hard work you guys at BUX are delivering. Recently the fractional shares and now crypto. Thanks for making BUX better and better and listening to the users. Great job!

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Very interesting, making it easier to diversify is never a bad thing!

That being said, crypto is pure speculation and has nothing to do with investing, you are buying something that doesn’t generate anything itself unlike shares in a company do.

It’s good for speculation and some of them as a store of value on par with gold.

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What are you even talking about? Shares don’t generate anything by itself? :sweat_smile:

And if you are going to use the argument that they generate money for the company, so do crypto currencies like Matic(Polygon) and Link(Chainlink) and many more.

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Very good news for Bux that the launch is finally here! Congrats everyone!

But nonetheless it is important to help “mostly” young folks see the difference between stocks and crypto.

Since crypto can’t be valued it is a speculative investment. Some people say the value of crypto is 0, some say it’s endless. There are no metrics to value it, on a factual basis or data.

So when investing in crypto and when you mix it with your stock portfolio think twice what risk percentage you want to have in your total portfolio.

Consider that when interest rates go up, people tend to go away from speculative investments and we could see a bear market coming up for crypto.

Stocks have value, generate income and you own a piece of a company (excluding Nikola :D).

I was bullish on the Bux Token but if all crypto will be commission free I don’t think the token has a lot of utility. Hopefully it will have new features soon.

Your future starts now. Be wise.

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Owning a share of a company entitles you to a part of the profit of said company, you are an owner after all. So as long as the company generates a profit, your shares generate money, directly through dividends or indirectly through capital appreciation.

Crypto currencies do not generate anything, they do not sell products/services so they generate no profit. Owning crypto therefore entitles you to nothing and thus they generate nothing.
When you buy crypto, you are hoping that the next person that comes along pays more for it then you did, so you can flog it on.

Crypto has some similarities with gold as in it’s used as a store of value, however unlike gold it has very little real world use at the moment. Gold is also used in the real world not only for jewellery but also in technology, medicine and many other fields.

edit: That being said, I do acknowledge I could have worded my sentence a bit better

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There are many ways to invest, but in the end it all comes down to figuring out the value a certain investment provides. People buy stocks for many reasons. Personally, if I were to buy Tesla stock, I wouldn’t buy it because I would become an owner of the company. I wouldn’t attend shareholder meetings and vote on the future direction of Tesla. I would simply buy the stocks in order to sell them at a higher price in the future. The same with gold: almost nobody buys it because of its applications in medicine; almost everybody buys it because they think it’s a great store of value.

People buy crypto for many reasons as well. Some to speculate, and some because they actually see the value of a project. This can be because it’s historically a great store of value, like Bitcoin, or because it is a utility token and they think the utility is valuable.

Dismissing an entire asset class based on how the world has worked in the past is very shortsighted, and keeping an open mind is a very important characteristic of an investor. No offense to you of course: crypto is not for everyone, but I believe crypto is the future, and I’m willing to bet on that future.

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So you buy stock in a company and you don’t really care what it’s doing then, that is what you are saying? Even though you don’t buy it to, as you say become owner in a company, you still do and therefore have a vested interest in the company doing well.
You would not buy Tesla if it wasn’t going somewhere, so you do actually care.

I’m not dismissing crypto as an asset class, it has it’s uses. What I said is that buying/selling crypto is not investing, it’s speculating or at best trading.
And the world will continue to work like it did in the past, investing,speculating and trading have been around for hundreds of years, that is not going to change.

By buying crypto you are either hoping that the next person that comes along with give you more for it and/or hoping that the actual crypto you are buying will at some point in the future get an actual real world use. Both of these conditions make it a speculative asset class, which is fine as long as we call it what it is and you as a buyer are aware of it.

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Investing in crypto equals speculating to you and investing to me because we fundamentally disagree on whether there is any underlying value. That’s fine. I’m not here to debate you on that. I just wanted to provide the community with a different viewpoint. In the end, I’m happy to see that BUX is keeping an open mind when it comes to crypto. We’ll see who was right in the future.

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Let me help you out:

==================

speculation
/ˌspɛkjʊˈleɪʃn/
*noun*
noun: **speculation** ; plural noun: **speculations**

The forming of a theory or conjecture without firm evidence.

==================

Crypto as an asset class has not proven itself at this point in time unlike pretty much every other asset class has, so it’s irrelevant what you or I personally think it does or what type it belongs to.
It is too new and does not have enough history to draw factual data from.

Therefore it’s speculating, not because I personally think so but because it is, there is no evidence yet.

That is not to say that your viewpoint is more or less valid than mine, you’d be surprised to know that I also see crypto as having future usage. I’ll be adding some to my portfolio as well over time because of this reason.
However, at this point we do not know what it will do, so it’s speculating when you add it to your portfolio.

Investing is buying an asset class, for instance stocks, of a company that sells a product/service and makes profit over time. Because it makes profit, eventually the stock price will follow, it always does. We have a hundred more years history of that we can look back on.
The reason being that you as an investor are entitled to part of that profit, since you are a shareholder.

Now, if you buy a company that currently does not make a profit, then you are again speculating, not investing. This can either be a new startup or a turnaround story of a (nearly) bankrupt company for instance.

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Guys, take it easy @dogafincan loves to buy crypto with his money @JPeters you love to buy stocks with your own money, at the end of the day we all want the same. Becoming independent with the money you own.

Maybe crypto is a gamble, maybe a IPO of stocks is a gamble. Look at rivian, that is an company with 0 sold vehicles. But the marketcap is incredible … like WT*

Take it easy.

Haha it’s fine Cornel, but I appreciate it :heart: I already told him I’m not here to debate, but it seems like he can’t let go :laughing:

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I am taking it easy, just having a discussion with a fellow community member, nothing more nothing less :slight_smile:

It’s just important that newer investors are aware of what they are doing and that they don’t end up speculating (and thus taking much more risk) when they think they are investing.

Certainly if one, as you say, wants to become independent with their money. Statistically you stand a much better chance doing that while investing then with trading or speculating.
Over the past years “investing” has become very popular on a large scale because of the amount of money in the system which means there are large numbers of relatively inexperienced people crowding the space. These people might very well not be aware of the risks they are taking.

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I understand your point, but it is also important to realize that you gave us a definition of speculation followed by your opinion of what constitutes “firm evidence”. I’m just trying to tell you that this isn’t physics: viewpoints matter.

If we’re trying to help beginners, let’s tell them to both be careful but also to be open minded. That way we can both have a positive influence on them.

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To all the beginners reading this: do think about your risk tolerance first before making a decision, and always invest with money you can afford to lose.

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You mean the hundred or so years of statistics? They care very little about viewpoints. Slightly confused on that one.

But indeed, invest according to your risk tolerance which is unfortunately a trial and error system to find out what it is. So begin small and work your way up and ideally from the least speculative assets towards the more speculative ones over time when you gain more insights and experience.

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Ok then! That’s ok, but the people who just started with investing. They have to know that they also can lose there money. That is everywhere on the internet. + If people invest in crypto, yes it is more with ups and downs but it is on them, I think!

I saw that you guys where on a discussion that is good! That’s why the community forum is for, but let people invest in what they want. :+1::muscle:

Ok​:muscle::+1:!

What I mean is that to some, Bitcoin has already proven itself as a store of value while for you it might still be too early to tell. I do agree that track records are good to look at, but we must also look at the world around us and realize when it is changing. I personally would invest in Bitcoin over gold right now when it comes to stores of value, but I understand that some people still choose gold.

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Good point on beginning with less speculative assets by the way. I agree!

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