Even buffet has said that diversification is only good for the uninformed passive investor. There are only a handful of "best" plays in the market and you're likely to make more money than the sp500 if you've put in the work to find some of them. To me that's Bitcoin, GME, and SOFI all of which (imo) have the most potential to absorb the wealth of traditional financial institutions in the long run.
Its probably a good thing for peoples mental health, Some people went too deep, or brought at the top back in November and are down big. Personally, I sold alot of my positions in mid to late November (stocks included) and have slowly brought back in over the past few months, (still down cause the dip keeps dipping). I also no longer watch the charts as much as I used too, I regularly forget to log into my SOFI (log in streak points gone) but then again I've only brought back into two stocks. When you are long and your DCA is set up for your stocks/crypto, no need to check charts or stay glued to forums or stockwitts etc. I've made peace that the next year or so (yes, I said year) is going to be rough, maybe alot more rough. But I also understand that its at times like this when money is made. At least thats what I've noticed in myself.
It takes time. Theres no way that many crypto ads wont have a good user to dollar spent on advertising raitio. This is big. It will take time but there was unprecedented exposure to crypto yesterday. Let’s celebrate that a lil. *heck, it was even at SOFI stadium!*
No. There is absolutely no laws that says SOFI has to actually custody the Bitcoin that buy on your behalf. You are buying an iou, backed by nothing. Further, if SOFI truly have your Bitcoin on your behalf, allowing you to withdraw it should be trivial. It’s very shady when a company doesn’t allow you to withdraw your Bitcoin. Here is how to get out: 1. Sell your Bitcoin at SOFI when it’s in the red (important for tax liability). 2. Buy the same amount on an exchange that allows you to withdraw your Bitcoin (Strike, Gemini Pro are good options in the US). 3. Even though your BTC didn’t change, you get a nice tax benefit of capital loss (up to $3k) if you sold and rebought when you were red. So, it’s a win win
Gotcha. I guess I missed it since I initiate transfers from my other bank that doesn’t have transfer fees at all, regardless of whether I send or withdrawal. It’s [SOFI](https://sofi.app.link/pXZDko4htnb) Great bank honestly. Highly recommend for those that see this comment.
Not much buddy. It is just a lower three digit figure. I DCA and hold Bitcoins and altcoins and learn day trading with beer money. I really love day trading because it is like a puzzle to me that I like to solve and have been making consistent gains day trading gala and harmony one since December. But today I was not happy with those 15% gains and ended up chasing Pumps on shitcoins named LOVE, LOOKS and SOFI(RAI) and lost 40%. Tomorrow is a new day again. Back to daytrading Harmony one.
What people are just trying to explain to you is that bitcoin is like gold not like a stock. You can buy any dollar value you want just like you can buy any amount of gold you want. The idea is that the price increase via scarcity whereas a stock increases proportionally to the value of the company (at least that is how it is supposed to work. The thing is, if you are buying through something like robinhood, SOFI (although they say they are correcting this) you aren’t buying bitcoin you are buying an i o u. It would be akin to robinhood not letting you transfer your stock because you don’t actually own them. It’s better to just use an exchange like Coinbase where you are actually buying it and can them transfer it wherever you want. For instance to a cold storage wallet. If you are going to spend the money to buy bitcoin you might as well actually own it. My assumption is you are wanting to try to trade (which I think is a bad idea) and you can do that on Coinbase or Coinbase pro. Hopefully that helps.
Yup, SOFI is competitive IMO but the margin on RH keeps me around. SOFI is great for seeing the investment portfolio percentages of ETFs but otherwise navigating the app is a bit disorganized feeling compared to RH. It hasn’t turned me just yet, but I have started bring money into it so I can play around there.
Yesterday I was planning on getting my money transferred out of SOFI to my CB it only allowed me to withdraw a portion I was planning on leaving my money alone so I could cash out the rest today but oh no I just had to throw what I had in SOFI on btc now I gotta decide when to cash out so I can just have one crypto holding account. The main reason of switching from SOFI is because I hated seeing how much I was down everyday from the beginning I was in the red. I’d rather just find a good entry point and leave it alone without knowing how much I’m down and dca without looking at my losses everyday
Partial tick for stocks? There are some companies out there at incredible valuations when looking through a lens of the next 3,5 or even 10 years. Companies like SOFI and Upstart will be mega giants of the fintech space and even have exposure to crypto. The MJ space is just starting to take off. Sports betting and gambling are finally taking off. EV Space like you mentioned. So many great opportunities to invest for the future and get in early.
Not to mention their are emerging companies out there new to the market with incredible value when looking at it from a long term perspective. Some of them even in the crypto space! SOFI and Upstart are going to be giants of the fintech space in the next 5 to 10 years.
I haven't had any issues with funding. I've used SOFI and Ally bank to ACH funds to the app and added funds with a debit card from those banks. I haven't tried to transfer money off the app yet but had no problem adding Ally bank as an account to withdraw to.
Been following SOFI for about a week now. I had a couple coins annoyingly die out due to the issue SOFI aims to tackle. SOFI has legit devs and a welcoming community. I started with a small investment but gonna grab some more later today. Take advantage of the dip baybeeeee.
This is definitely a gem. It's near impossible to find a project under 500k market cap where the project has an original and unique idea. Plus, the devs aren't anonymous! SOFI will be very community driven too where every holder is encouraged to add value to the project in any way, whether its through development, marketing, spitballing ideas, etc. Every investor has a say in SOFI's future. Additionally, the concept of community marketing is brilliant. I feel like this project can be built upon in so many ways I'm honestly truly excited I found such a gem so early.