Newbie questions crypto thread

What the fuck are you buying where prices are going up?

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Can anyone give me a overview on ledgers?

At what price point should you use them?

What tiers are there?

Additionally - what is the preferred method for getting coins that aren't on Coinbase? I want to pick up a some Monero.

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(01-22-2018 03:03 AM)zanetti Wrote:  It's so frustrating seeing prices go up while you're waiting for verification from the fiat exchanges, coinmama, bitstamp. Kraken isn't even doing verifications at the moment and Changelly is not working...I want my gainz!!!

I was freaking out about this, my verification for Kraken was started over 6 months ago and still isn't complete. About 5 weeks ago I tried to sign up with another exchange that claimed to only take 2-5 busy days, after 2 weeks I emailed them and asked them what was going on. They replied that they were busy and that I had to be patient, I thought to myself that for the amount of time some faggot took to write that he could have just looked at 3 pictures I took and verified my account.

I signed up with a small local exchange based out of my city and they verified my account this week, took about 3 days.

After all this recent frustration I actually came out on top. Everything I was going to invest in is priced at about half of what it was when I wanted to buy 5-6 weeks ago, so it worked out for me.

Now I'm just waiting for my second E-transfer to clear so I can invest some more.

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Anyone else still having problems using Binance? I can't even get on their website, let alone log in, from any of my devices...

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(02-09-2018 08:35 PM)fiasco360 Wrote:  Can anyone give me a overview on ledgers?

At what price point should you use them?

What tiers are there?

Additionally - what is the preferred method for getting coins that aren't on Coinbase? I want to pick up a some Monero.

If by ledgers you mean hardware wallets:

Get one when it'd suck that all your crypto disappeared. With the prevalence of malware it's not hard for hackers to drain your crypto on a compromised PC. The more you have, the more of a target you are.

There's no tiers, there's just a couple companies - both are good. Tresor and Ledger I believe. I have a ledger nano s.

There's lots of exchanges, but generally the bigger the better.

https://coinmarketcap.com/currencies/monero/#markets

That link shows all the places to buy Monero. It looks like HitBTC has the biggest volume. By some BTC, LTC or ETH on Coinbase/GDAX and move it to your account on HitBTC, then buy it there. Or one of the other exchanges, you get the point.

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Ledger Nano S is sold out and won't ship till March 27th according to their website, I'm going to order one but if I was a guy with significant money invested I'd be worried in the meantime.

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For some of the newbies who have very little idea of crypto- wouldn't hurt to start here.

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(02-10-2018 05:18 AM)Malone Wrote:  

(02-09-2018 08:35 PM)fiasco360 Wrote:  Can anyone give me a overview on ledgers?

At what price point should you use them?

What tiers are there?

Additionally - what is the preferred method for getting coins that aren't on Coinbase? I want to pick up a some Monero.

If by ledgers you mean hardware wallets:

Get one when it'd suck that all your crypto disappeared. With the prevalence of malware it's not hard for hackers to drain your crypto on a compromised PC. The more you have, the more of a target you are.

There's no tiers, there's just a couple companies - both are good. Tresor and Ledger I believe. I have a ledger nano s.

There's lots of exchanges, but generally the bigger the better.

https://coinmarketcap.com/currencies/monero/#markets

That link shows all the places to buy Monero. It looks like HitBTC has the biggest volume. By some BTC, LTC or ETH on Coinbase/GDAX and move it to your account on HitBTC, then buy it there. Or one of the other exchanges, you get the point.

I've been reading to stay away from both HitBTC and Poloniex. Any other suggestions?

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Stay the fuck off stocks.exchange.

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Just a quick question: Why is there a crypto sub-forum and not one for personal finance in general?

Crypto seems to be a niche of personal finance/ fiscal independence and not the other way round.

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'cause crypto was super-big last year and it was cluttering up the lifestyle forum, so it got shuffled off into its own thing so that people who weren't into crypto didn't have to read 50 different threads about it.

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I hope someone more familiar with exchanges can explain this to me. This is from Binance's "basic" exchange.



I don't quite know how to read the bottom 3rd of Binance's candlestick chart, pictured above. I assume the green bars are saying that it's mostly buy volume? I dunno. Can someone explain to me what this means?

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Hey guys, where do you actually BUY your BTC. Or in other words, where do you exchange your fiat currency for cryptocurrency, before you go on to the exchanges?

I have been using Coinbase so far, but I find their fees to be expensive. I would like to find a merchant where you can exchange your fiat currency for minimal fees.

One tip I've learned so far: Don't use BTC itself on exchanges! I've found the fees for LTC to be a LOT lower. So when I buy my crypto from Coinbase, I will buy LTC which transfers a lot faster to the exchanges and has a far lower transfer fee.

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Depends where you are, really. I use Bitpanda as my on/off ramp. It integrates with Euro banks and it would actually properly verify me, unlike lots of the others.

Another way to go is Local bitcoins.

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(06-01-2018 05:44 PM)dtpilgrim Wrote:  Hey guys, where do you actually BUY your BTC. Or in other words, where do you exchange your fiat currency for cryptocurrency, before you go on to the exchanges?

I have been using Coinbase so far, but I find their fees to be expensive. I would like to find a merchant where you can exchange your fiat currency for minimal fees.

One tip I've learned so far: Don't use BTC itself on exchanges! I've found the fees for LTC to be a LOT lower. So when I buy my crypto from Coinbase, I will buy LTC which transfers a lot faster to the exchanges and has a far lower transfer fee.

There are a lot of exchanges, but everyone uses the most comfortable. I prefer coinmama, they have good conditions for exchange. You can read good guide for coinmama https://bitcoinbestbuy.com/exchanges/btc...ma-review/ But I'll say it again, there are no ideal exchange, you'll must choose yourself.

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(06-01-2018 05:44 PM)dtpilgrim Wrote:  Hey guys, where do you actually BUY your BTC. Or in other words, where do you exchange your fiat currency for cryptocurrency, before you go on to the exchanges?

I have been using Coinbase so far, but I find their fees to be expensive. I would like to find a merchant where you can exchange your fiat currency for minimal fees.

One tip I've learned so far: Don't use BTC itself on exchanges! I've found the fees for LTC to be a LOT lower. So when I buy my crypto from Coinbase, I will buy LTC which transfers a lot faster to the exchanges and has a far lower transfer fee.

I also use coinbase but I don't think is that expensive. Usually if I want to send something to an exchange, I send using ETH (the cost is way lower and it is faster)

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Finally decided to join the market!
On how many assets do you guys have for long term holding?
I was considering 5 or 6. Is that too much/little if the goal is to just sit on them?

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Coinvest will launch soon their platform, which probably will be the best platform for beginners. Take a look at their public beta here: https://beta-trade.coinve.st/

Coinvest is flying pretty much under the radar right now, considering the potential the platform has (e.g. automated Index Funds).

Just for putting this into perspective, the market cap of Coinvest is currently around 1.5 million on CMC.

A horrible exchange like Lykke has a market cap of 19 millions.
An average exchange like Huobi has a market cap of 82 millions.
The leading exchange Binance has a market cap of 900 millions.

Take a look at the beta and get your own impression whether Coinvest seems to be a good buy right now.

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Reading a new book that newbies may want to check out.

An Altcoin Traders Handbook by Nik Patel.

Wish I had the information in there a year ago, this is one of the best investments in crypto you can make.

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(09-16-2018 03:19 AM)Steve McQueen Wrote:  Reading a new book that newbies may want to check out.

An Altcoin Traders Handbook by Nik Patel.

Wish I had the information in there a year ago, this is one of the best investments in crypto you can make.

Great book. Do you carry out the research method he describes? calculating inflation / supply rates, supply assessments etc

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(09-16-2018 04:35 AM)The Grey Wrote:  

(09-16-2018 03:19 AM)Steve McQueen Wrote:  Reading a new book that newbies may want to check out.

An Altcoin Traders Handbook by Nik Patel.

Wish I had the information in there a year ago, this is one of the best investments in crypto you can make.

Great book. Do you carry out the research method he describes? calculating inflation / supply rates, supply assessments etc

Not so much, I only finished it the other day, will need to review and implement but the information was good hence listing here.

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(09-16-2018 02:22 PM)Steve McQueen Wrote:  

(09-16-2018 04:35 AM)The Grey Wrote:  

(09-16-2018 03:19 AM)Steve McQueen Wrote:  Reading a new book that newbies may want to check out.

An Altcoin Traders Handbook by Nik Patel.

Wish I had the information in there a year ago, this is one of the best investments in crypto you can make.

Great book. Do you carry out the research method he describes? calculating inflation / supply rates, supply assessments etc

Not so much, I only finished it the other day, will need to review and implement but the information was good hence listing here.

I'm soon about to launch a research platform where most of his metrics will be listed + more. I think you'll find it valuable. It's based of my own research method influenced party by his and others method.

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Great, I'd be keen to take a look once you have it up and running.

His website is available also, he is posting weekly updates on the market there. Only just started the updates mind you, currently on week 2.

https://www.altcointradershandbook.com/m...outlook-2/

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(09-17-2018 01:13 PM)Steve McQueen Wrote:  Great, I'd be keen to take a look once you have it up and running.

His website is available also, he is posting weekly updates on the market there. Only just started the updates mind you, currently on week 2.

https://www.altcointradershandbook.com/m...outlook-2/

Yeah I'm watching his site as well. Can learn a lot from the dude. Check out @secretsofcrypto on twitter. Guy is a complete legend.

I'll share with you when we launch

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