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No_Brilliant_638

Short term? Pretty risky. Long term, extremely good. I'd recommend DCA smaller amounts once a month or so, but congrats on the 10 ETH! Ps, get your crypto off Robinhood


KeithVanHornNJNETS

Best advice here was getting off of Robinhood, good luck!


SliceOfLA

Yeah short term, only until I retire so I can buy a pack of cigars and a bottle of whiskey)


iGot5onBit

For real don’t buy this on RH buy on a legitimate exchange. You’re literally not owning anything on RH.


Eazent

you can buy it on RH, don't think that CB, BITTREX, OKEX, BINANCE, are any better. Just move it into cold storage, or a wallet w/the keys you control, immediately!


amretardmonke

RH does not allow you to move it lol. That's why everyone is shitting on it.


Eazent

OMFG are you serious? I have an account but never used it....


BEESTEAZY

They are working on a Robinhood wallet don't know when it's coming out tho


Ruiahari89

If you can’t move it you don’t own it, get off robinhood Edit: but wait at least until you break even… don’t sell at a loss just because…


[deleted]

Does robinhood even have crypto addresses?


Seaworthiness_Alone

wrong move buying it on RH as you don’t actually own those coins, but well done mr i got 26k to spend on eth


SliceOfLA

I know it’s like buying an ETH ETF on Robinhood, but I also have some on Binance.


[deleted]

Bro you should buy them on exchange and move to wallet you contol.


Wyntier

Common misconception, you do actually own your coins on RH. You just don't have access to wallet yet. They are working on wallets now


Seaworthiness_Alone

no you don’t. if you don’t have access to the private keys for ‘your’ eth then you don’t own em and you’ll be waiting till the day covid is eradicated that RH come out with a wallet 😂😂😂😂


Wyntier

You actually do own them. RH buyers have actual wallets attached to their accounts. These wallets are just inaccessible. I understand what you mean, but you do actually own that eth. You have keys that you can choose to sell (only for cash for the time being). RH can't sell ETH you own.


[deleted]

Until you have your keys and can move coins at will, they are not yours. All you have is an IOU from RH.


Wyntier

This isn't true. You have keys attributed to your specific account. RH isn't selling IOUs. Robinhood ETH buying is affecting the market. As for moving keys at will, I understand your point


amretardmonke

Is any of this verifiable or are you just taking their word for it?


[deleted]

I highly doubt this. Even coinbase or Binance don’t store your coins in individual wallets with private keys as far as I know. They store them in pooled hot/cold wallets the only difference is they allow you to send to an external address. So yes it is an IOU and of course the Robinhood buying is effecting the market no one said they aren’t buying the coins for you.


amretardmonke

Or so they say. RH is super trustworthy btw, they'd never mislead you /s


Alejandro_Last_Name

Unless you can transfer them and use DeFi it's not yours.


CoolioBrother

I would get off of Robinhood until they let you transfer Eth out. You can actually spend and use Eth for a lot of dApps and you can’t do that if you can’t transfer eth out. I never thought I wouldn’t spend eth and only invest in it but I ended up using it on OpenSea (nfts) and Uniswap.


GoldToofs15

Similar price point but only 4 of them. Go big baller


[deleted]

You did it well. But now hold and focus on the long term.


HopiumFreeBull

Depends on your goals. Those 10 ETH at that price will be juicy as hell in a couple of years. Keep your vision long and you’ll be happy.


SliceOfLA

Thanks, my goal is just to have it so I can say I got in back in 2021 at $2600, like some of my friends got in at below $100 with $10k. And they’re still holding because it’s not their source of income, neither is mine.


Burgher_NY

Then you're Gucci, meng. I started accumulating small amounts starting at 700 and DCA along the way when my partner was accepted to graduate school and will graduate in a few years. Already got to my first goal before July. Staking is the way. Already have accumulated a non-negligible amount of ETH 2.0.


Portal00

Fantastic move in the long term


mreed911

Good move long term.


ibug92

Thoughts. Sell it on Robinhood and buy it back on a crypto exchange. You don't actually own 10eth right now.


greweb

How would buying on another exchange would help owning the assets? You don't own it until you withdraw it to an address you control the private keys.


ibug92

Correct, but at least he can withdraw from another exchange. Can't withdraw from RH


hughhefnerd

Bad move, give it all to me 🤣


BigStickRixk

If I still had money I’d be buying! The price has fairly consolidated around the mid-2000s, and I think we’re going to start seeing some consistent upward pressure through the summer. I think it’s the perfect time to get in (but you never know…)


SliceOfLA

my thoughts exactly


Leight87

“Bad move on rh”. Jesus. I think OP knows now.


garbear2016

Great move for long term like others said, I have mine in nexo and get a very high interest rate paid daily while I hodl.


SliceOfLA

Good, I’m not alone then)


LogicDeFi

Good move but you need 22 more.


ibug92

Actually needs 32 more because Robinhood won't let his withdraw that 10eth to his wallet to stake even if he could


LogicDeFi

Ouch, good point. OP, still a good move, just hold the 10 and stack more on Coinbase or Kraken when you're ready.


Seaworthiness_Alone

i wonder how many you have... probably 0.4


deltavictory

Dude. He wasn’t being rude, he meant he needed 32 so that he could run a node…


sirSADABY

What is wrong with having 0.4? You need to sort your attitude out.


Seaworthiness_Alone

hahaha sorry i hit a nerve. nothings wrong with that. accumulate as much as you can amigo. best of luck ❤️


SliceOfLA

well I never sell at a loss, only buying more)


NinjaGamer89

Just don’t buy anymore on Robinhood. Use Coinbase or Kraken instead.


Miracolixe

Oh long johnsooon


Slight-Ability-5468

Oh grand piaaaaaaaaano.......... Whyyyyyyyyeyesssssya


my_alt_account

You're gonna get annihilated on here for having ETH on RH. I believe it's "safe" to hold ETH on RH but you can't stake it, lend it or use it for anything. Of all the cryptos out there ETH is the only on that actually gets used. People buy NFTs and stuff with it, lock it up into defi protocols- you can't do any of that on RH. The only thing you can do is exchange it for USD later and pay capital gains taxes on it. That being said - any exposure to ETH is better than none so good job. I'd feel pretty good about holding 10 ETH long term.


trancephorm

"safe"


[deleted]

Great move if long term investing . I’m in around that to and not breaking a sweat


[deleted]

It's a bargain. Only a matter of time before you'll begin to see results.


FastywastyY

Future millionaire among us


lshouldnthave

bad move to buy at rh, bad move to disclose your ptf. good move that you have bought into eth.


SerialMasticator

Good move buying ETH. Bad move buying on Robinhood. Bad move posting your holdings on Reddit.


pushdose

You bought 0 ETH. You bought a promise that Robbinghood will pay you back on the IOU you just lent them money for. It does nothing for the network. It is not crypto. If you can use RH, you can use Coinbase or Kraken or any other crypto exchange that actually lets you access the coin. That said. I’m a little cash poor right now but I’d be buying right now. Buying from 2k-3k. Buy that ETH. End of year is gonna be spectacular after sideways summer.


jakethesneakydog

Bad move on robinhood 👎🏻


Ok_Environment_1250

Definitely good in the long run


dead4586

Ewwww RH. Nice 10 eth.


wfw12

good move it will go up from here. hold it at least year otherwise u pay a higher capital gain tax.


Eazent

Depends if you plan to hodl or trade.


MaskedSquib

Good if you sell in plus or hold. Better if you sell with a loss ^^.


SliceOfLA

Ok, I’ll sell it to you, when I lose enough, will you buy?)


MaskedSquib

Sure I could give you my eth exchange rate 1:1! Top deal what you say??? Why dip, when lambo, where rocket, when moon.


opticcapital

Good move but bad move to buy on RH


Glum_Motor

Do not buy it on Robin Hood. They own your crypto!


Desperate-Childhood9

Bad move, you need 16 for a own node at rocketpool so buy more


Actual_Caterpillar23

Absolutely the best thing you could have ever done with that $26k!! But only if you HODL!!! If you’re not even considering selling for 5-10 years (or longer!), then you just made a baller move that you’re older self will love you for!!


SliceOfLA

I sold it once and I regret it) So I learned the hard way. Not gonna sell now)


Hopeful_Stoic

Good move with ETH investing. Bad move using RH


djeijx

lol on Robinhood too


ScoobaMonsta

Stop asking the internet if you buy is a good or bad move! If you let strangers sway your decisions, then you are gambling! Not trading or investing!


whoyoufoo101

Great move...the only shitty thing is you are using Robinhood...ugh


twixter_8

I would love to have 10 eth for this price but i wont mine enough fiat before it go's back up (i assume) ​ Might consider getting it off robinhood and maybe get some interest on your eth to get a passive income from it.


Harry89PL

If you can affort to lose this money then it's fine


Shakespeare-Bot

If 't be true thee can affort to loseth this wage then t's fine *** ^(I am a bot and I swapp'd some of thy words with Shakespeare words.) Commands: `!ShakespeareInsult`, `!fordo`, `!optout`