Hiya,
Are there is plans to create or make cryptocurrencies āinvestmentā option available in house within- invest and ISA accounts as oppose to using specialise crypto platforms like coinbase etc
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personally I would hope not, crypto is something you can spend or trade but there is no value behind it to āinvestā in IMO. Adding it to the investment accounts is sure to cause too much confusion among those new to the market.
with shares,ETFs and bonds there is an underlying asset your money is weighted against, when a company performs well and increases its āworthā this gets reflected in the price, however Cryptoās are standalone with floating value that relies almost entirely on sentiment and speculation. the few cryptos weighted against currencies āstable coinsā being the exception, however like physical currency, its not something you can invest in as it just has an exchange rate and no inherent worth.
Thanks Dao, I agree with all that youāve stated. However, some people would still rather prefer to speculate on cryptos rising in the long run by holding as opposed to active trading giving that we could have another surge in the price.
Hence, it worth having this option on the platform imo. perhaps we could have another area called crypto invest/hold etc so as to differentiate from invest&ISA
Crypto āinvestorā here.
I really hope that T212 doesāt waste their time/money/effort on cryptoā¦ at least not before few more years 