CryptoCurrency Trading - Anyone doing this?

Post by **Username Taken** » Mon Jun 26, 2017 12:13 pm

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.

jayblues · Post by **jayblues** » Mon Jun 26, 2017 1:23 pm

No experience at all in cryptocurrency but I did just sell guideforbitcoin.com for 200 USD.
Otherwise, Bitcoin is confusing to me.

Digg3r · Post by **Digg3r** » Mon Jun 26, 2017 2:18 pm

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

YouTube · Post by **General Mackevili** » Mon Jun 26, 2017 3:00 pm

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!

esu · Post by **esu** » Tue Jul 04, 2017 10:37 am

Username Taken wrote: I will pay USD with Wing to buy bitcoin with bitcoincambodia.com

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: Can anyone recommend a reputable Bitcoin Wallet?

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.

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.

Username Taken wrote: Does that sound right? Can anyone recommend an Exchange?

The best Exchange-services for crypto-currencies right now are https://poloniex.com/ and https://bittrex.com/
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.

soup · Post by **soup** » Tue Jul 04, 2017 12:22 pm

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.

soup · Post by **soup** » Tue Jul 04, 2017 12:24 pm

esu wrote: ↑Tue Jul 04, 2017 10:37 am
Username Taken wrote: I will pay USD with Wing to buy bitcoin with bitcoincambodia.com
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: Can anyone recommend a reputable Bitcoin Wallet?
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.

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.

Username Taken wrote: Does that sound right? Can anyone recommend an Exchange?
The best Exchange-services for crypto-currencies right now are https://poloniex.com/ and https://bittrex.com/
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.

http://keepass.info/ is a good password option. Open source! Free!

AlonzoPartriz · Post by **AlonzoPartriz** » Tue Jul 04, 2017 1:04 pm

Hmmmm what do you reakon UT?

Post by **Username Taken** » Tue Jul 04, 2017 1:38 pm

Like it says, 500 (server error). A problem on their end. Try again in a few minutes.

AlonzoPartriz · Post by **AlonzoPartriz** » Tue Jul 04, 2017 8:14 pm

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.

Last time I had one of those it took over four days.

CryptoCurrency Trading - Anyone doing this?

CryptoCurrency Trading - Anyone doing this?

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