Post: #1

Let me start by saying that any and all advice given here will be strictly that and there will be no liability or ill feelings towards anyone contributing to the topic in discussion. I respect and appreciate any advice, but will not hold a grudge or any member accountable for my own adult financial decisions.

So,
Does anyone have any ideas or thoughts on how one would get started in this “crypto currency” thing? I have zero financial background but have seen people making crazy money on these surges. I regret that I didn’t get involved when LAL started accepting it as currency. That was the first tim I had heard the term.

Again, any advice is appreciated. Also accepted: sharing of links to information that would guide me towards my financial goal of being richer then yesterday.

Thanks.

Post: #2

You can buy at coinbase.com it’s highly reputable, Dell uses them to process crypto payments and I use them to buy!

Post: #3

"The best time to start was yesterday, the next best time is now"

I too wondered how things would've been if I took bitcoin seriously at the end of 2016 - beg of 2017 but I still believe we are still at the beginning of a whole new world so it's still not too late. It may be late for bitcoin but with the rise of altcoins, there are endless of opportunties. For example, mid December (thus just 2 weeks ago), Ripple was only $0.77 when my friend introduced me to it. Today, it's at $3.03 !!! that's just in 2 weeks! When I was at his place, I thought about putting $200.

I'm a total newbie myself though. Funny how you created this thread today on a phero forums, because yesterday was my first day of sitting down to consume as much info as I could. First, I wanted to put money into Ripple because I trust my friend and I thought "since the market is moving VERY fast, let me put some money now on Ripple whilst I'm still learning; otherwise it's moving faster than my learning".

For now, my suggestion would be to watch youtube videos and join FB groups. I've been a member of a cryptocurrency FB group for 1-2 weeks now and it's helpful when you are scrolling down your newsfeed, you stumble upon random posts. It only takes few seconds to read them but since we are total newbie, any post is helpful. If I see words or currencies that I see often, I write them down to check them out.

For now:


As for currencies that I keep seeing often:
Bitcoin, Ripple, Ethereum, Litecoin, Verge.

Since apparently it's easy to be hacked, they suggest you to have your info in 2 different places (which they call wallets); one of them is a hardware wallet that you can keep in your room. It's encrypted without internet connection.

Post: #4

I use coinbase but it's very limited. Right now you can buy bitcoin, bitcoin cash, ethererum and finally litecoin. You have to do a set up and verification process and the buys using credit or debit is pretty limited. I have accounts with bittrex, binance and bitstamp but as of yet I haven't done anything.

(If you want to limit yourself a debit card starts off eith a max of $100 per week and a credit card is limited to $400. Maybe $300 but my went to 4. The charge for $100 purchase is 3.95 which is cheaper than Scottrade or fidelity. For my accounts anyway.) I don't think the big 3 is done just think people are catching on and buying the less expensive stuff, like tronix, ripple.

My advice get into the low end crypto because right now the big three have been down. Who knows if the will go up or not but as long as you throw some money into it and watch and learn you can't go wrong. Sit on the side line forever and your never get a chance to play.

Also spend money wisely though.
I am in the process of taking my litecoin to bitcoin and bitcoin to transfer to a market that I can buy ripple from. Missed the boat on litecoin and ripple. Bought litecoin in the 100s, while i first learned of it in the 30s. My robin hood, fidelity and Scottrade accounts won't trade crypto.

Post: #5

Spars:

You may have to look around as alot of exchanges
have temporarily stopped enrolling new accounts.

Having both profited and lost money in stock market,
always have an exit strategy for getting out whether
it goes up or down.

Hard not to get caught up as price keeps rising but
try to separate emotion from the transactions and always
protect your capital.

Never chase. If its already rocketed, take a step back
and wait for the next train.

Lastly, aside from rampant hacking, the big boys
manipulate the currencies same as stock market.
For currencies they want they'll start massive selling
to send currency into freefall and once it hits bottom,
buyback at bargain prices. Problem is you wont know
which ones they're after til its too late.

The above may sound like common sense but
most have trouble mastering emotional ups and downs.

You are basically gambling in a big internet casino.
Only difference is, you know the odds going in the casino
and the odds are set/stable. Here between the big boys
manipulating and newbies on emotional rollercoaster,
odds change at a whim. Never bet your rent/lunch money.

Good luck.

Post: #6

I purchased ether a few months back and am excited that it now costs $1000 each! I limited the amount I spent to purchase and leaving it as is. I try not to worry to much with the daily fluctuations and am thinking long term instead.

Post: #7

I'm going to make a small purchase in this new crypto exchange and currency at .01 A coin.

It starts in 8 days.

If you're interested in getting onboard please use my referral link as you can get onboard and it would benefit me as well for referring.



If you do use my link thank you and good luck to us all!

Post: #8

I invested in two years ago.
While you can buy and sell all kind of cryptocoins to speculate directly i invested in the
idea behind this company. They are writing games for android and iphone with ion coin as a carrot to play and earn money. Also spending as a in game currency.
The concept is explained on their website. They have a nice user interface to buy ion and to setup stakers. ION is a coin which is generated automatically via POS (Proof of Stake) in comparison to BTC which is POW (Proof of Work).
With all POS coins you need only a wallet and an amount of coins to get a share continously. This is called staking. Ionomy also offer Masternodes if you have 20000 ION. With a masternode you are also participating on the transfers on the network. Your staking rate is a bit higher.



ION is traded on BITTREX atm

I like the idea of combining games with cryptocoins. The ionomy train is just starting and the second game is in beta atm. Most of all the coins are garbage and if you look at dash for example its over 1k$ atm without anythig special behind it.
Dash is also POS and a pure speculation coin.

Is IONOMY the real deal? I dont know. Only invest money you can afford to loose. Like always! But if ION will get to 50 or 100$ or more like we all expect i can retire and can buy a lot of mones.

Post: #9

(01-07-2018 8:29 AM)Hannibal Wrote:  I invested in two years ago.
While you can buy and sell all kind of cryptocoins to speculate directly i invested in the
idea behind this company. They are writing games for android and iphone with ion coin as a carrot to play and earn money. Also spending as a in game currency.
The concept is explained on their website. They have a nice user interface to buy ion and to setup stakers. ION is a coin which is generated automatically via POS (Proof of Stake) in comparison to BTC which is POW (Proof of Work).
With all POS coins you need only a wallet and an amount of coins to get a share continously. This is called staking. Ionomy also offer Masternodes if you have 20000 ION. With a masternode you are also participating on the transfers on the network. Your staking rate is a bit higher.



ION is traded on BITTREX atm

I like the idea of combining games with cryptocoins. The ionomy train is just starting and the second game is in beta atm. Most of all the coins are garbage and if you look at dash for example its over 1k$ atm without anythig special behind it.
Dash is also POS and a pure speculation coin.

Is IONOMY the real deal? I dont know. Only invest money you can afford to loose. Like always! But if ION will get to 50 or 100$ or more like we all expect i can retire and can buy a lot of mones.

Sounds interesting. I'll take a look into this. Quick question, how did you find your bittrix account? Transfer bitcoin?
Thank you

Post: #10

(01-07-2018 10:47 AM)Saiyanprince Wrote:  Sounds interesting. I'll take a look into this. Quick question, how did you find your bittrix account? Transfer bitcoin?
Thank you

yes you can send any coin to bittrex. you have your own wallet for any coin to trade with. BTC ETH ETC doesnt matter.