Nocoiner here, I wanna stop getting put on suicide watch and start trading crypto. I have the following quesitons:
>Is crypto trading like forex trading?(as in currency pairs)
-Does Technical Analysis work on cryptocurrencies?
>Can you buy all cryptocurrencies with dollars, or does it have to be BTC
>What exchange/broker do you use to flip dollars into btc and other cryptocurrencies
>Any reading material regarding crypto currencies? Or should I just do fundamental analysis of each coin and trade based on that.
>Whats the best way to determine if a given coin is a scam?
Thank you in advance.
>>2041436
>>>Is crypto trading like forex trading?(as in currency pairs)
yes
>-Does Technical Analysis work on cryptocurrencies?
yes
>>Can you buy all cryptocurrencies with dollars, or does it have to be BTC
some trade with USD. most trade against BTC only
>>What exchange/broker do you use to flip dollars into btc and other cryptocurrencies
I use coinbase but you will hear /biz/ talk a lot of shit about them
>>Any reading material regarding crypto currencies? Or should I just do fundamental analysis of each coin and trade based on that.
how can you do fundamental analysis of something that is inherently worthless? just go read coindesk articles for a while and ride the hype train
>>Whats the best way to determine if a given coin is a scam?
if it is anything besides bitcoin, ethereum, or litecoin it is a worthless scamcoin
>>2041461
>>>Whats the best way to determine if a given coin is a scam?
>if it is anything besides bitcoin, ethereum, or litecoin it is a worthless scamcoin
actually I was being simplistic, there may be other coins that will take off in the future
my intutions are mostly with DASH or ZCASH although I dont actually know much about either desu and I have zero position
>>2041461
Thank you for the answer.
I've also seen(I think) cryptocurrencies being bought like say a stock for example. Can you, for example, buy some bitcoins as a non-currency pair. Like a site that would literally give you bitcoins for your cash.
>>2041476
there is no such thing in this word as a trade without a pair
literally when you buy AAPL stock you are trading AAPL/USD
when you buy bitcoin you are trading BTC/USD
when you barter at the farmers market and trade eggs for cucumbers you are trading EGG/CUCUMBER
and yes anywhere that trades COIN / USD will literally cost you american dollars to buy a bitcoin and give you american dollars when you sell a bitcoin
>>2041484
world*
>>2041436
>Does Technical Analysis work on cryptocurrencies
No
You just have to invest and hold your nuts
How long does it take for fcking jewbase to transfer my money
LTC is going up and i cant do shit RRRREEEEEeee
>>2041484
How do you buy the other altcoins, as I see coinbase only offers Litecoin and ETH
>>2041547
you need to use an exchange that offers the coin you want
example:
https://poloniex.com/exchange
>>2041547
You put your coins on to an exchange like poloniex, kraken, bittrex and such.
>>2041570
that is one way to do it
you can buy on coinbase, and your bitcoins will be put into a bitcoin wallet there
then you can make a poloniex account and transfer your BTC from coinbase wallet to poloniex wallet, and then youll have them for trading on the poloniex exchange
I have never used poloniex actually but I am pretty sure if you wanted you could just deposit dollars directly there and then buy bitcoin. they definitely offer USD/BTC