CryptoCurrency Trading - Anyone doing this?
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- Raven
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CryptoCurrency Trading - Anyone doing this?
I am looking for some good advice about how to go about this.
First, I don't want to use banks or credit cards. Ideally, I will pay USD with Wing to buy bitcoin with bitcoincambodia.com (an advertiser on this site).
As I understand it, first I need to have a Bitcoin Wallet. When I buy bitcoin with Wing, the bitcoins will then go in my Bitcoin Wallet.
Does that sound right, so far? Can anyone recommend a reputable Bitcoin Wallet?
Once my bitcoins are in my wallet, I don't want to leave them there. What I want to do is speculate on other cryptocurrencies (e.g. Ripple, Ethereum, and many more). Don't worry; I'm talking just a few hundred dollars to get started while I feel my way around.
So, at this point, I have bought Bitcoin via Wing, the Bitcoins are in my Wallet sitting doing nothing.
I think the next step, in order to speculate on cryptocurrencies, is to transfer some/all the bitcoins to a Bitcoin Exchange. Does that sound right? Can anyone recommend an Exchange?
So, once the bitcoin is in my Exchange account, I can then buy some Ethereum, Ripple, etc. One month later, I decide to sell all or some of my Ripple for bitcoins. Those bitcoins then go back to my exchange account (or to my Wallet?) to play with as I wish, or exchange for USD via BitcoinCambodia via Wing.
Would I be correct that most Exchanges don't deal with all cryptocurrencies? So, if I wanted to buy X-Money (I just made that up) and my Exchange doesn't deal with X-Money, I need to open an account at an Exchange that deals with X-Money. Is that right?
That's all for now. I haven't started yet. I'm just trying to learn the ropes.
@Eriksank, your input is most welcome.
First, I don't want to use banks or credit cards. Ideally, I will pay USD with Wing to buy bitcoin with bitcoincambodia.com (an advertiser on this site).
As I understand it, first I need to have a Bitcoin Wallet. When I buy bitcoin with Wing, the bitcoins will then go in my Bitcoin Wallet.
Does that sound right, so far? Can anyone recommend a reputable Bitcoin Wallet?
Once my bitcoins are in my wallet, I don't want to leave them there. What I want to do is speculate on other cryptocurrencies (e.g. Ripple, Ethereum, and many more). Don't worry; I'm talking just a few hundred dollars to get started while I feel my way around.
So, at this point, I have bought Bitcoin via Wing, the Bitcoins are in my Wallet sitting doing nothing.
I think the next step, in order to speculate on cryptocurrencies, is to transfer some/all the bitcoins to a Bitcoin Exchange. Does that sound right? Can anyone recommend an Exchange?
So, once the bitcoin is in my Exchange account, I can then buy some Ethereum, Ripple, etc. One month later, I decide to sell all or some of my Ripple for bitcoins. Those bitcoins then go back to my exchange account (or to my Wallet?) to play with as I wish, or exchange for USD via BitcoinCambodia via Wing.
Would I be correct that most Exchanges don't deal with all cryptocurrencies? So, if I wanted to buy X-Money (I just made that up) and my Exchange doesn't deal with X-Money, I need to open an account at an Exchange that deals with X-Money. Is that right?
That's all for now. I haven't started yet. I'm just trying to learn the ropes.
@Eriksank, your input is most welcome.
Re: CryptoCurrency Trading - Anyone doing this?
No experience at all in cryptocurrency but I did just sell guideforbitcoin.com for 200 USD.
Otherwise, Bitcoin is confusing to me.
Otherwise, Bitcoin is confusing to me.
Re: CryptoCurrency Trading - Anyone doing this?
Try
bittrex.com and poloniex.com
I personally have no idea, but these two exchanges come highly regarded on a tech I follow.
Sent from my ONEPLUS A3010 using Tapatalk
bittrex.com and poloniex.com
I personally have no idea, but these two exchanges come highly regarded on a tech I follow.
Sent from my ONEPLUS A3010 using Tapatalk
- General Mackevili
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Re: CryptoCurrency Trading - Anyone doing this?
Is https://coinbase.com a cryptocurrency exchange website? I always see that site referred to when I come across Bitcoin articles.
And I've been keeping my 0.02 of a BitCoin in https://blockchain.info
I'll have something to pass on to the grandkids when it's worth $100,000,000!
And I've been keeping my 0.02 of a BitCoin in https://blockchain.info
I'll have something to pass on to the grandkids when it's worth $100,000,000!
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Re: CryptoCurrency Trading - Anyone doing this?
We maintain this project. When you have any questions, you can ask here or feel free to send us a message on https://bitcoincambodia.com/contact/Username Taken wrote: I will pay USD with Wing to buy bitcoin with bitcoincambodia.com
For daily payments, https://blockchain.info/wallet/ is a good choice. It is easy to use because everything works without any software installation and is web-based. As I know this solution is relatively safe compared to other web-based applications because all the relevant wallet data is encrypted and this application is executed on the client-side (in Browser). However, I would not recommend keeping large amounts inside this wallet.Username Taken wrote: Can anyone recommend a reputable Bitcoin Wallet?
When you want to keep bitcoins in safe place then the best way is to keep Bitcoins in "cold storage". What you need is a private key which you can, e.g., write down on a paper and keep this paper in a safe place. For example on https://www.bitaddress.org/ you can easily generate private keys.
The best Exchange-services for crypto-currencies right now are https://poloniex.com/ and https://bittrex.com/Username Taken wrote: Does that sound right? Can anyone recommend an Exchange?
These services offer the biggest selection of different crypto-currencies.
Also, I like https://www.kraken.com/. However, there are not so many crypto-currencies which you can exchange.
Re: CryptoCurrency Trading - Anyone doing this?
You could mine it yourself.
Do a bit of research. There are some Youtube videos on the subject.
The two ways are, setting up a computer farm, which means high costs, or develop a botnet and have other computers do the work for you. The later is not exactly the nicest way to go about it, but some people do.
Do a bit of research. There are some Youtube videos on the subject.
The two ways are, setting up a computer farm, which means high costs, or develop a botnet and have other computers do the work for you. The later is not exactly the nicest way to go about it, but some people do.
Re: CryptoCurrency Trading - Anyone doing this?
http://keepass.info/ is a good password option. Open source! Free!esu wrote: ↑Tue Jul 04, 2017 10:37 amWe maintain this project. When you have any questions, you can ask here or feel free to send us a message on https://bitcoincambodia.com/contact/Username Taken wrote: I will pay USD with Wing to buy bitcoin with bitcoincambodia.com
For daily payments, https://blockchain.info/wallet/ is a good choice. It is easy to use because everything works without any software installation and is web-based. As I know this solution is relatively safe compared to other web-based applications because all the relevant wallet data is encrypted and this application is executed on the client-side (in Browser). However, I would not recommend to keep big amounts inside this wallet.Username Taken wrote: Can anyone recommend a reputable Bitcoin Wallet?
When you want to keep bitcoins in safe place then the best way is to keep Bitcoins in "cold storage". Everything that you need is a private key which you can, e.g., write down on a paper and keep this paper in a safe place. For example, on https://www.bitaddress.org/ you can easily generate private keys.
The best Exchange-services for crypto-currencies right now are https://poloniex.com/ and https://bittrex.com/Username Taken wrote: Does that sound right? Can anyone recommend an Exchange?
These services offer the biggest selection of different crypto-currencies.
Also, I like https://www.kraken.com/. However, there are not so many crypto-currencies which you can exchange.
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- Expatriate
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Re: CryptoCurrency Trading - Anyone doing this?
Like it says, 500 (server error). A problem on their end. Try again in a few minutes.
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- Expatriate
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Re: CryptoCurrency Trading - Anyone doing this?
Last time I had one of those it took over four days.Username Taken wrote: ↑Tue Jul 04, 2017 1:38 pm Like it says, 500 (server error). A problem on their end. Try again in a few minutes.
See crook!!!
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