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Anonymous
HOW TO START BUYING AND TRADING CRYPTO 2017-04-20 04:04:16 Post No. 1974262
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HOW TO START BUYING AND TRADING CRYPTO 2017-04-20 04:04:16 Post No. 1974262
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In every crypto thread I watch people chasing their tails trying to get answers about how to get their initial stake. Here is a step by step guide that explains exactly what I went through to get going:
1. Buy Ethereum through Coinbase
>I signed up for Coinbase and bought 1000 dollars worth of ETH. Buy ETH because all transactions will be faster than BTC. I was told in 7 days I'd receive my ETH. By the time it made it into my wallet, I had 2.5x'd my money in ETH. I received it the evening of the 7th day.
2. Sign up for BitTrex.
>Make an account on BitTrex. Navigate to Wallets.
3. Send ETH to BitTrex.
>Find ETH in your wallets, click the Plus Sign. This is your deposit address.
4. Send 1 ETH to make sure you have the right address.
>Only send ONE to make sure everything is right. I discovered I had to change an 8 to a B, and I lost $50. But I could have lost $2500.
5. Send the rest of your ETH.
>Send in chunks if you wish to lower the risk each time.
6. Sell some of your ETH for BTC.
>Click on ETH's link (reads ETH in blue) in your wallet to go to the ETH-BTC market screen. You can buy or sell here. You will use BTC to buy all other alt coins.
7. Trade as desired.
>Start finding good pumps or long term holdings. I'm putting 50-200 into various cheapo coins and sitting on them til they pop.
8. Have fun!
>Welcome to the future, motherfucker.
BTW - if you are going to do this, do it NOW. ETH may go to the moon in the next 3ish days.
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Thanks m8, helpful guide for noobs like me.
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>>1974262
can yuropoors withdraw from bittrex or is it us only?
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For anyone interested in cyrptocurrency or pumping and dumping, join this discord group
https://discord.gg/EJZaS
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>>1974262
how come you prefer bittrex to poloniex?
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>>1974345
You need bitttrex premium for EU withdraws. Passport scan and the works.
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>>1974348
Looks friendlier, easier to get started.
I signed up to Polo and had trouble sending coins so I dropped it
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What's the benefit of using a wallet you've downloaded rather than one that comes with your trading account?
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>>1974351
do you know an exchange site where yuropoors can withdraw without id proof?
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>>1974364
you don't own the private keys on exchange accounts or online wallets
the exchange/site can get hacked, you lose it all
the exchange/site can embezzle it, you lose it all (mt gox)
the only safe way to store coins is to download the wallet onto your computer where only you have the private key. the blockchain files are usually large though, ETH is about 28GB right now.
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>>1974364
MtGox was the big exchange in the early days of BTC. It was ""hacked"" and people lost everything.
If you download a wallet to your computer, your computer is the single point of failure, but you're safe from exchange troubles/nefarious activity.
Think of a wallet on your computer like stuffing money in your mattress, and leaving it in an exchange like putting it in the stock market
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>>1974364
>>1974376
also I back up my private key in multiple locations, which should be a given if you are holding any significant amount
also anyone needing an eth wallet should use MIST, the "normal" wallet is shit
>>1974382
yes ETH uses gas (fees), but they are tiny compared to bitcoin. a few cents at the most and the transactions take less than a minute to confirm.
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How do you add money from your bank account? Can you do it if your a leaf?
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>>1974347
expired
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>>1974262
>>Only send ONE to make sure everything is right. I discovered I had to change an 8 to a B, and I lost $50. But I could have lost $2500.
How fucking stupid do you have to be to do this? I have sent thousands and thousands and never lost a cent. Only a complete retard would do this.
Also stop telling newfags to use coinbase. That fucking scam site will rob them blind.
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how do we yoropoors exchange our ETH to euros? Are the taxes high?
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cryptobizcentral (add the dot and com yourself)
Has a semi decent explanation on getting started being a degenerate cryptonigger. It looks like the site was created by one of you niggers since nocoiner keeps being used throughout the site. Kys biznigger
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>>1974693
why u say that
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For a few free coins
1. Make account at https://poswallet.com
2. Use aprest as refferal ID (optional)
3. Click Dashboard Scroll till you find the coin you want a wallet for
4. Click “Generate XXXXX wallet address” to create the wallet
5. Click Faucets find the coin you just made a wallet for and click it
6. Free coins sent to your wallet
7. Trade or keep the free coins
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>>1974693
What site should I use if not coinbase?
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>>1974797
thanks. made 0.0000612 BTC
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Btc-e 4 life
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>>1975114
kraken
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OR you can just do it like me:
Send Euro to Kraken, then exchange it for BTC, leave some, buy ETH with some, and send the rest to POSW where I exchange it.
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i would
- avoid bittrex, its worse in every way to poloniex, except for trading even shittier coins
- use gdax instead of buying directly from coinbase to save money
- avoid buying ethereum as your entry coin, because to buy anything else youre going to have to convert it into bitcoin anyway, taking unnecessary fees
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>>1977053
Polo has the FBI and IRS lurking.
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>>1974797
> bought couple of dollars worth of POSW
> got some shitcoin through faucet
> Due to shitty interface and me being a retarded, I actually bought the shitcoin using my POSW instead of the other way around
> tfw lost all my POSW and it just pumped
Don't forget to put your coins into the staking wallet
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