2019 Year For Crypto Currency
Personally, I have never bought any crypto coins or currency since the fade started back 8 years ago. I do believe blockchain currency technology would replace bank currency in the distant future. The reason for my hesitation is the safety of the brokers holding these coins. Holding crypto currencies and fear of accounts being hacked are just doubling up the investing & security risks which no one wants.
I stumble on these attractive looking company which may pursue me to consider investing in Crypto Currency for the first time.
This recommended by an investing peer last week which is convincing me to part some of my hard cold cash for high risk returns.
RIOT BLOCKCHAIN [RIOT] – USD4.71 15th April 2019
Company is traded on the US Nasdaq exchange. This company was started in 2000 initially as a Biotechnology company. Company changed its business and adding the term Blockchain to the company name which cause some unwanted controversy. The company board is filled with Canadian financial experts. Their primary business are crypto mining operations in US Oklahoma and also hold several popular crypto exchanges. Between the fine line, Riot Blockchain also has interest in crypto accounting and auditing services.
1. Tax Free for UK Investors
As a UK investor, RIOT can be invested via your stocks and shares ISA. So if this stocks goes to a wonderful value, all the profit earn is technically tax free. Since the company a US publicly traded company and classed as an ISA wrapper investable company.
2. Tracks the Major Bitcoin and Litecoin
The share price rise and fall are almost tracking the major Bit and Lite coin indices. The reason is because the coins mined by the company are held as assets. The company claims they have no long term debt because the number of coins mines are off setting their debt in the long term.
3. No Wallet Required
One thing that annoys me is crypto wallet. I have lost 3 wallet accounts despite not holding any crypto coins. I understand the blockchain security features, however my absent minded head seems to be against me owning crypto currency. Now I can invest in a crypto mining company without a wallet! Bonus!
Time to Invest in Crypto Currency?
At the time of writing, I have not invested in this high potential yet risky company. With the mining operations in US reduces the risk of any mines closure. This is a very high risk investment. I am preparing to accept if the value goes to zero (losing 100% capital).
I am not expecting to conduct any financial analysis for the decision making process for feasible investment. The company share price literally tracks the bit and lite coin indicies. I am giving it a short term of 2-3 years for any handsome returns.
THIS IS AN EXTREMELY HIGH RISK SHARE/COMPANY. PLEASE TAKE YOUR OWN RISK AND UNDERSTAND THE PROBABILITY OF CAPITAL LOSS of 100% IS VERY HIGH.