Newbie questions crypto thread

Can anyone recommend an exchange that actually works? Using Coinbase at the moment and they're a mess - customer service is non-existent and I need a lot of questions answered.

This seems to be a situation replicated with the likes GDAX, Kraken, Spectrocoin and others. I've heard stories of orders not being placed, withdrawals going missing and other such stuff.

I've just signed up to Binance and sent off verification but I've no idea how long that will take. Any recommendations to a solid exchange that actually does what it says on the tin would be great.

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(12-20-2017 11:24 AM)davyjose Wrote:  Can anyone recommend an exchange that actually works? Using Coinbase at the moment and they're a mess - customer service is non-existent and I need a lot of questions answered.

This seems to be a situation replicated with the likes GDAX, Kraken, Spectrocoin and others. I've heard stories of orders not being placed, withdrawals going missing and other such stuff.

I've just signed up to Binance and sent off verification but I've no idea how long that will take. Any recommendations to a solid exchange that actually does what it says on the tin would be great.

You can trade and withdraw up to 2BTC/day on Binance without verification.

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(12-20-2017 06:57 AM)Blancpain Wrote:  Bitcoin keeps getting forked, as someone who knows a thing or two about the stock market it looks to me this is exactly the same as a company issuing new shares, thus the shares get diluted.

Dilution is most common in penny stocks. Usually this ends in a disaster where investors lose their money.

Now lets say there are 16 million bitcoins out there, after the fork there is also 16 million bitcoin cash and 16 million bitcoin gold, so this effectively triples the total amount of coins in circulation.

The biggest investment thesis for bitcoin was that there will only be 21 million in existence, but with the forks thats not the case. It's not different than printing new money with a different name . Correct me if I'm wrong.

A fork is like a company breaking up into two separate companies. The coins may have similarities but they don't interact at all.

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(12-21-2017 08:07 PM)Adonis Wrote:  

(12-20-2017 11:24 AM)davyjose Wrote:  Can anyone recommend an exchange that actually works? Using Coinbase at the moment and they're a mess - customer service is non-existent and I need a lot of questions answered.

This seems to be a situation replicated with the likes GDAX, Kraken, Spectrocoin and others. I've heard stories of orders not being placed, withdrawals going missing and other such stuff.

I've just signed up to Binance and sent off verification but I've no idea how long that will take. Any recommendations to a solid exchange that actually does what it says on the tin would be great.

You can trade and withdraw up to 2BTC/day on Binance without verification.

Cool, but Binance have no facility to buy crypto with fiat. Whats the best way to do this?

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Buy ETH with fiat on GDAX/Gemini/Kraken, transfer it to Binance.

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My question: How do I invest in an ICO? I already have several thousand in BTC and ETH and have working accounts on two exchanges.

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It differs from ICO to ICO but generally, prior to the ICO, you will need to go to the ICOs website, put in your email then at some point provide them with your ETH address and probably a photo of your passport to get whitelisted. Once the sale starts, they will provide you with an ETH address that you send your ETH to then they will send your new tokens to that address.

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(12-28-2017 06:39 AM)Valentine Wrote:  Buy ETH with fiat on GDAX/Gemini/Kraken, transfer it to Binance.

GDAX ain't working (keep getting BS errors during verification), Gemini doesn't do my country and Kraken's verification ain't working, and their support "has no idea" when it'll be working.

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^ I would suggest searching on google to find out another website where you can buy ETH in your country.

It seems you have to use different websites to change fiat to bitcoin, depending on what country you or your bank is in.

Are the exchanges that list lots of altcoins worldwide? Or will I have to find one specifically for Mexico? Is bittrex the best one?

Also since BTC is slow and the transaction fees are high, people are purchasing altcoins with ETH or LTC, is it possible or a good idea to purchase altcoins with BCH? Or should I just buy some ETH? or LTC?

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When sending erc-20 tokens to a MEW or metamask wallet, once you've added the token and its contract address, do you just use the same ethereum address to send the tokens to?

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(12-28-2017 07:32 AM)the-dream Wrote:  It differs from ICO to ICO but generally, prior to the ICO, you will need to go to the ICOs website, put in your email then at some point provide them with your ETH address and probably a photo of your passport to get whitelisted. Once the sale starts, they will provide you with an ETH address that you send your ETH to then they will send your new tokens to that address.

So the coins will get sent to my ETH wallet?

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How long do Bitcoin transactions normally take these days? Without paying a large fee?

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(12-29-2017 04:01 AM)Gas Wrote:  

(12-28-2017 07:32 AM)the-dream Wrote:  It differs from ICO to ICO but generally, prior to the ICO, you will need to go to the ICOs website, put in your email then at some point provide them with your ETH address and probably a photo of your passport to get whitelisted. Once the sale starts, they will provide you with an ETH address that you send your ETH to then they will send your new tokens to that address.

So the coins will get sent to my ETH wallet?

Yup, assuming it is a ERC-20 token, which 90% of ICOs are. You send the ETH then the tokens from the ICO will be sent back to the address that you sent the ETH from.

Some ICOs use NEO though instead of ETH and I'm not sure how they work. I also did a ICO which was for a new exchange (LAToken) and that gave me the tokens inside their exchange platform. I then had to withdraw them to my ether wallet.

But 90% of the time you just send the ETH then they just send the tokens back to your ether wallet.

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The coins I have access to buying with fiat right now are BTC, ETH, LTC and BCH. Which one of these has the lowest transaction fee (for when I send it to an exchange).

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Either ETH or LTC, both have pretty low fees and fast times.

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Is anybody using the Bitfinex "Funding Wallet" to earn some passive income? I have some ETH sitting around that I plan to hold long term, I thought I could hold it in Bitfinex instead and earn a few extra dollars. Anyone used/using it?

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I've never purchased crypto before. I'm in Central America. I would like to buy Monero and Ripple with USD using a credit card from a US bank. So far I've unsuccessfully tried three exchanges:

Kraken (doesn't seem to work at all at the moment, probably due to high site traffic)
Coinbase (doesn't support buys from my location)
localbitcoins (seems to only deal with BTC).

Can anyone recommend any other exchanges to try?

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Try changelly.com, it is a website affiliated with coinmarketcap. They say they accept credit card and Ive tried 2-3 times but it never went through.

Usually you are supposed to buy BTC or ETH and then buy other coins with them.

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(12-30-2017 06:32 PM)sonoran_ Wrote:  Try changelly.com, it is a website affiliated with coinmarketcap. They say they accept credit card and Ive tried 2-3 times but it never went through.

Usually you are supposed to buy BTC or ETH and then buy other coins with them.

FYI, Changelly is on the "avoid" list on the Monero subreddit. There are some threads detailing issues with them:

https://www.reddit.com/r/CryptoCurrency/..._think_so/

https://www.reddit.com/r/CryptoCurrency/...s_nothing/

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(12-30-2017 04:43 AM)Gas Wrote:  Is anybody using the Bitfinex "Funding Wallet" to earn some passive income? I have some ETH sitting around that I plan to hold long term, I thought I could hold it in Bitfinex instead and earn a few extra dollars. Anyone used/using it?

Sounds risky with all the rumblings about Tether.

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(12-30-2017 06:32 PM)sonoran_ Wrote:  Try changelly.com, it is a website affiliated with coinmarketcap. They say they accept credit card and Ive tried 2-3 times but it never went through.

Usually you are supposed to buy BTC or ETH and then buy other coins with them.

Is it easy to exchange BTC or ETH for other cryptos, especially if I have to buy BTC or ETH from one exchange then trade it for Ripple or Monero on another exchange?

Someone else told me that BTC>XRP or BTC>XMR wasn't ideal because of the transaction fees and times. Is ETH any better?

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(12-30-2017 08:21 PM)bucky Wrote:  

(12-30-2017 06:32 PM)sonoran_ Wrote:  Try changelly.com, it is a website affiliated with coinmarketcap. They say they accept credit card and Ive tried 2-3 times but it never went through.

Usually you are supposed to buy BTC or ETH and then buy other coins with them.

Is it easy to exchange BTC or ETH for other cryptos, especially if I have to buy BTC or ETH from one exchange then trade it for Ripple or Monero on another exchange?

Someone else told me that BTC>XRP or BTC>XMR wasn't ideal because of the transaction fees and times. Is ETH any better?

If you're keeping it on the same exchange it doesn't matter, but some coins are only sold for BTC.

If you're transferring exchanges use ETH it is much faster and has much lower fees. But like I said above you may need to trade into BTC for some trades.

In hi vol trading periods I personally pay a premium for the speed.

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Quote:I've never purchased crypto before. I'm in Central America. I would like to buy Monero and Ripple with USD using a credit card from a US bank. So far I've unsuccessfully tried three exchanges:

Kraken (doesn't seem to work at all at the moment, probably due to high site traffic)
Coinbase (doesn't support buys from my location)
localbitcoins (seems to only deal with BTC). 

Can anyone recommend any other exchanges to try?

try quadrigacx, I'm not sure if it work for Central America.

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(12-30-2017 09:49 PM)Dante.Migue Wrote:  

Quote:I've never purchased crypto before. I'm in Central America. I would like to buy Monero and Ripple with USD using a credit card from a US bank. So far I've unsuccessfully tried three exchanges:

Kraken (doesn't seem to work at all at the moment, probably due to high site traffic)
Coinbase (doesn't support buys from my location)
localbitcoins (seems to only deal with BTC). 

Can anyone recommend any other exchanges to try?

try quadrigacx, I'm not sure if it work for Central America.

Thank you. I'm checking out quadrigacx now. One more question, though. The country field on the registration page was originally set to United States and there was a message that the site doesn't currently accept users from that country. I switched it to my current country of residence and the message went away, so it looks like I'll be able to register. However, once I go back to the US, will I have any problems using the site? I'm guessing I'll be able to log on and transfer crypto between this exchange and others, just not purchase more crypto, but I want to make sure.

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After an agonizingly long time of research and learning the very basics of blockchain technology, I've decided to get into crypto. So just after Christmas I started signing up for exchanges... and I am stuck. In particular I've gone the basic bitch route of signing up for Coinbase but I'm also trying to sort out GDAX. GDAX is not accepting my ID. Now I've taken some very clear pictures of my ID with both a digital camera and with my webcam, but GDAX isn't having it. I've also noticed that Kraken and Binance are very slow in processing my information. Is it something to do with extra traffic because finally people are jumping onto the crypto bandwagon all at once plus it being the Christmas/New Year holiday? Or are they usually this fucking frustrating and slow?

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