New to crypto currency

first step is to acquire bitcoins, next step is to transfer those bitcoins to an exchange, at this point you can get started

>>2308465
Do i need to buy a whole bitcoin? How does this work?

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>>2308480
localbitcoins com , is your friend. Helps if your good at sucking dick too.

No you do not have to buy a full bitcoin

>>2308480
Cryptocurrencies including Bitcoin can be divided to the 100,000,000th decimal place which looks like this: 0.00000001
And the smallest unit is named a satoshi, after the creator of bitcoin.

So no, you don't have to buy a full bitcoin.

>>2308480
no. You just get your BTC sent to your BTC wallet. It will automatically do this. Like, $200 is like 1/11th of a single BTC at current rates.

>>2308536
>>2308549
Ok sweet. So i buy bitcoins and divide it up into shitcoins?

>>2308531
Hey, new to cryto here, is coinbase good for starting ?

>>2308554
If you want to, but you have to transfer your Bitcoin to an exchange first.

>>2308570
I am new as well, and I am starting with coinbase to buy first bitcoin.
It took me 2 days to figure everything out and get verified there.
Today I should be able to buy my first bitcoin when my money gets transferred.
Then I plan to move to Bittrex to trade it for other coins.
Also don't forget to get your own wallet.

Am I doing it right?

>>2308618
Yep, and if you plan to hodl you should get your own wallet for security reasons, but if you plan to day trade then keep it on the exchange for liquidity

>>2308625
What is hodl?

>>2308570
Bittrex, Poloniex, Kraken and Cryptopia.
Bittrex my personal favorite.

>>2308630
Holding for a gain instead of trading the fluctuations

>>2308618
Ok, so i bought 200eur of bitcoin on coinbase what do i do now ?

If i understood right, i have two choises, hold of trading, i think ill hold on it since it keep gaining in value ?

>>2308638
I like Polo, minus the lag it gets when BTC shits on my day.

>>2308660
If you want to just buy bitcoin and watch it grow then withdraw it to your private wallet you keep on your device.

If you want to trade move it to some better exchange like bittrex and trade there.

With bitcoin on your device you can grow slow but steady with almost no risk.
With trading you can make shitload, but it is easy to lose everything.

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But why should I exchange my Bitcoin to other coins? Why not staying on Bitcoin and hoping it to increase the value? I can imagine that in a few years the USA and Europe are going to use Bitcoins much more often than these days. Same what is happening in Japan and China right now. So doesn't it mean that the Bitcoin will definitely raise up a lot?

I'm also new, trying to understand trading. Once I paid something with BTC and had some Euros left in my Wallet, recently logged in and was surprised that the "leftover" doubled now and instead of 20€ it's worth 40€ now. That got me interested.

Wallets from worst to best

Keeping in the exchange
>big target for hackers and your money is completely at the mercy of the exchange
Desktop/Mobile (online)
>better but hackers can steal your money
Paper wallet
>basically print out wallet public key (receiving) and private key (secret, used to export)
>unhackable but unless you protect the piece of paper you might lose the money if it gets damaged or lost
Another mobile as a dedicated wallet
>keep offline and no-one can hack into it
Offline laptop
>unhackable through internet
>you can install any protection you want from physical access
>can easily make transaction and copy it to online computer to upload into blockchain
Hardware wallet (Ledger Nano S or Trezor)
>specifically designed to keep money safe both from hackers and people with physical access
>simple to use

>>2308707
Other coins could potentially have higher ROI% rates compared to BTC in the long term. Say you buy a coin at 100 sats goes to 200 sats in a day. Thats a 100% ROI. Now for BTC to have a 100% ROI it would need to go to ~$6000.

>>2308707
Less price means less steps in price is required to make huge gains.
If you put 100€ on shitcoins like Redd or Bean, they might grow 5x in a week. Last weekend DGB rocketed and a lot of anons quadrupled their investment.
BTC price doesn't fluctuate that much. It's for long term holding.

You can use 30% of your BTC on shitcoins.

>>2308733
And we need bitcoin to buy other coins, correct?

>>2308733
That makes sense, thanks a lot

>>2308742
Yep.

This board is pure cancer. People playing rulette and making bumpb limit abandon ship threads when their coin drops 10%

http://coinmarketcap.com has 100 different fucking coins. How are you supposed to pick one when they are all pump and dump memes? Mooncoin has a cool name so I'm most interested in that one but gonna follow things for a while before I dump even 1k in this

>>2308761
Mooncoin, really? You called out other "memecoins" but you're going to the "moon" with "mooncoin"? Invest your time, money, and my time in contributing something tangible to this board such as update of news for REAL systems such as BTC/DGB/ETH/XRP(doubting more every day).

>>2308788

well yes. How is emercoin any better? Wings, DigiByte, etc I could list 20 coins. They are all the same except for name

>>2308788
NOTE: I'm not saying that these are the ONLY real coins, but they are used as an example.

If Toyota was to release that they would now accept payments in SC, then that would benefit to the overall discussion of tangibility of cryptocurrencies IRL, which is the only important thing. I'm not going to buy a house/car with DOGE.

>>2308761

Research the coins, dev teams and possible uses
Also, how can you call everything a meme coin and end up with mooncoin?

Long-term holds
>BTC, ETH, STRAT, XRP, ARK, DGB
Short-term pump and dump
>MOON, RDD

>>2308798
Not really the same. It's about real-world applications. Like Minecraft accepting DGB. Others will follow, but NO ONE is going to take DOGE/MOON seriously in the real world market.

>>2308804
EXACTLY.

>>2308811

Educate me then on what is a coin that can be taken seriously and has potential for good ROI

>>2308872
Explain to me what you think is going to happen when fiat currency flatlines.

Technically, any coin can have good ROI. I called DGB rise before it happened (also, weirdly SC went up at the same time). A serious coin would be something like ETH (if you had gotten in early enough). A good SOLID technology. I still believe in the technology behind XRP because it bridges real-world money with it's "coin". When the fiat flatlines, we will be left with the financial establishments (banks) turning to Ripple asking for help. Then they have true power, probably more so that BTC. "Serious" depends on what you're interested in. If DOGE were to be like "We're drafting a contract for DOGE to be accepted at Walmart." it would be (to me) a serious coin at that point and I would research the technology behind it again and then make the decision of whether or not to buy. Unless it was "fake news" haha

If you are asking me to predict trends, I would say to hold DGB, SC, XRP, and LTC. Maybe STR if you're feeling optimistic. These are doing alright. Expecting a rise again by Thursday/Friday. Not sure how much, but expect something to happen with one or two of those coins at least.