Hey can we make a starter thread for cryptocurrency ?

Hey can we make a starter thread for cryptocurrency ?

What is it ?
where and how can i buy it ?
whats the liquidity ?
do you use bots ?

Other urls found in this thread:

coinmarketcap.com/
coincap.io/
cryptocoincharts.info/markets/info
myetherwallet.com/
tokenmarket.net/
asx.com.au/asx/research/findABroker.do
twitter.com/SFWRedditGifs

I'll contribute.

TA=Technical Analysis

Took me like two weeks to finally learn what that acronym fucking meant when I started learning the crypto ways. Your welcome.

>what is it
Think about cash; the physical embodiment of money. Its very useful because of a natural anonymizing property; it belongs to whoever owns it.

When money makes the transition to the digital realm, this property is lost. If you want to deal with money online, you usually have to deal with a third party (Paypal, credit card company, bank, etc) to transfer funds, leaving behind a records and details of transactions.

Cryptocurrencies were designed to be a way around this; a way to move cash into the digital real whilst retaining the anonymizing property, while at the same time being impossible for a single government/company/entity to control unless they manage to overtake 51% of the nodes involved.

Since then though, the technology has been adopted to create apps/services that go beyond currencies. So you can have tokens that are integral to the use of a service, in a sense could be interpreted as shares.

>where and how can i buy it ?
Various services and exchanges, from Coinbase and localbitcoins, to Poloniex and Kraken.

>whats the liquidity
Depends on the currency/asset, but in general they're all rather liquid. You can find daily trading volume and market caps here:
coinmarketcap.com/
coincap.io/

OP here
thx guys for the information, i have 1000 Euro in savings, shall i invest in ?

I really dont get a lot of reveneu on my saving accounts anymore

Depends: do you want be like Veeky Forums and focus on short-term trades, pump and dumps, etc., or do you want to be more long-term. If the latter, what's your time frame (weeks, months, years) and risk tolerance?

you should, the entire crypto market cap is bound to go up, what individual coins will go up is more of a gamble

long term in months
and i tolerate risk

wich one would be low risk to buy ?

I think there should be a /crypto/ general at all times, and hopefully that will stop 50 similar threads being created to discuss various aspects of crypto. Also it might help people like OP (and me) get some answers about crypto from some more experienced anons, in my experience Veeky Forums isn't very good at providing advice, which is a shame.

I bought my first crypto a few days ago. It's a pretty tedious and confusing process, especially for non-Americans (most sites seem to have an easy way to deposit for Americans, but are not so easy for Brits). You typically have to upload a few documents (for the one I used it was a selfie with a payment card plus the front and back of my driving licence) and wait a little while before they allow you to deposit.

I used cex.io and it was ok (seemed easier to get through the red tape than competitors like Kraken and Gatehub), but annoyingly I ended up losing ~20% of my deposit on transaction fees. Basically I wanted to deposit GBP (which you can do on cex.io but not on lots of the others) and buy ETH, but they don't have any function to buy ETH with GBP, only USD and EUR. So, seeing as I'd already deposited, I had to buy BTC with GBP, and then buy ETH with BTC, paying a transaction fee each time and ending up with less ETH than I should have. A little bit annoying, but it's a learning experience.

Hopefully some other user with more experience can give much better advice, but Veeky Forums often doesn't reply to requests for help so I thought I'd share my experience thus far, a few days in.

Probably buy and hold Bitcoin or Ethereum to be safe, particularly the latter since the former is currently having a fight over their development core.

You could also look at the more promising tokens used for services. I'm loading up on Humaniq (currently in ICO) and Golem right now. Rather pleased that the latter has gone up from $0.023 to $0.075 in the past month.

thx man. i think poloniex sounds good sb exp with it ?

and do some of you use a trade bot ? i saw a user post it and everyone agreed with him its a good think, is this true ?

do you think 1000 eurocucks are enough for trading ?

In this market, sure. Especially since the volatility and crazy swing percentages mean you can make a lot of money overnight. That's why Veeky Forums is so into it.

I just personally don't do it because I prefer value investing.

I didn't try Poloniex myself, can't remember why but I think it probably doesn't allow GBP deposits. I have accounts with cex.io, kraken and gatehub. Still waiting for verification from gatehub, and they won't reply to my email asking how long it's likely to take (although I saw some forum post say it was 3-5 days). The verification procedure is probably easiest on kraken, but my bank doesn't support the type of bank transfer that's necessary to deposit money with kraken. Cex.io supports deposits from debit/credit cards which is nice, but like I say, I had some issues with the transaction fees.

I think most people here use poloniex or coinbase (please correct me if I'm wrong), and they seem like better options if you're a yank.

op here
and is this ethernum thing really not a meme ?

You need to understand that Ethereum isn't really a currency, per se. It's more of a computing platform upon which new services and decentralized applications (dapps) can be built upon, especially if they make use of smart contracts. The "currency" (ETH) is used as "fuel" for these, mainly paying for transaction fees and computational services.

The way I explain it is to think of Ethereum as a stock market, while all the other services and dapps that depend on it are the specific companies. If you view it like that, then investing in Ethereum itself is like buying an index fund; you're riding on the success of the platform and anything that uses it.

The reason Veeky Forums is so hyped over it right now is that they're likely about to upgrade from the current version (4.0, called Spurious Dragon) to the next one (5.0, Metropolis). This is supposed to be THE big release the ones the gates to the masses, with fully fledged and tested user interfaces for the non-technical users. So there is a general expectation that value of individual ETH tokens is going to explode.

Honestly, I would have bought some too had my funds weren't currently tied up.

>the ones the gates
*that opens the gates

retard thread, missed the boat

Aussie here, holding eth for the long haul but want to get into shitcoins and ride the pump and dump waves.
What are the best marketplaces and wallets for memecoins (that preferably take AUD)?

oh man so exited guys, ok i creade a poloniex acc ang get my savings from the stupid bank funds

Where do I buy Etherium?

Thanks for all the tips and other information guys, im also a beginner and threads like these are useful.

Keep in mind that bank transfers can take days. You might miss out on this update if you do it via that.

Here is a list of exchanges. Look through them and find the one that best suits your geographical/financial factors:
cryptocoincharts.info/markets/info

As for wallets, it depends on the currency in question. For Ethereum-based tokens, for example, you can set up an Ethereum wallet to take them. Personally, I use MyEtherWallet:
myetherwallet.com/

have i to buy bitcoin first for ethenum on poliex ?

Since you seem to hold all the answers, what long term currencies should I buy?

As I said above, Bitcoin and Ethereum are fine.

If you want something more concrete, then I suggest researching the various non-currency tokens out there. I'm currently holding Golem and Humaniq, and always keeping an eye out on whatever the next ICO is. TokenMarket is a good place to do this kind of research:
tokenmarket.net/

So what's the best way to go about exchanging my Crypto? I have a Jaxx wallet and an Exodus wallet. So I mined some mBTC and sent .01 BTC from Jaxx to Exodus and the transaction cost like a penny. I used Exodus to turn the BTC to Dash then ETH, but if I want to go back to BTC the fee kills all the value I gained. Is there another way to go about exhanging these things to limit the transaction fees?

bumping for answer

im a newbie to trading in general, can i still buy ethereum and other cryptos if im a 16 year old ausfag?
also since you seem helpful enough how do I buy into NASDAQ stock?

17 yr old ausfag just dropped $500 on ether. Yes you can do it you just need to convert to USD and then buy through that

thanks mate

Open an account with an Australian stock broker and start investing. You just have to find the right ticker.

Use this screener to help:
asx.com.au/asx/research/findABroker.do

Which wallet(s) do you guys recommend?

CAN I GET OUT REAL MONEY FROM IT? I WANT 200 A WEEK INTRADAY DAYTRADING AND ON SEPTEMBER EQUITY WAIT TIME WILL BE LOWERED

Enjoy your report nigger. Also you will never be rich because you fell for the Crypto-Jew.

I know because I bought ETH when it was less than a dollar and now how 77k tied that I'm unable to convert back into USD.

why was the guy reported?

If you're american, coinbase is really easy and secure (buy with bank account, half the fees and they honor the price you buy at). I like to use yobit, I find the interface to be relatively simple and they are a lot easier of an exchange for coins to get on. Only problem is if you are making over $10k, they are an unregulated exchange and if the IRS finds out its possible to get fucked really hard.

I think you should buy ethereum. It's the safest thing you can buy on the market. You should read up on it first though. You will most likely enjoy learning about it.

So if I buy ETH at $47 and it rises to $50 before the transaction goes through, I would still have bought it for $47?

Yes

Why do you have to upload those documents? I'm kind of paranoid about that stuff like, where does it get saved and who gets to see it?

Buy FRN on Yobit. Shits gonna moon hard on the French elections (23rd of April)

Thank you, user.

Was doing some Internet research on crypto a couple months ago, when ethereum was at about €14, forgot about it and now it's more than €40.
Did I miss my opportunity to get rich lads?

eth has reached beyond meme status. Microsoft, JP Morgan, Intel, and other fortune 500 companies have started to back it. It could literally be the next internet if all goes to plan.

Thank of crypto like napster or a torrent. Everyone contributes to the network and everyone has a giant ledger that records all the transactions. The ledger is constantly updated and everyone can see it it in the blockchain so it can't be manipulated.

Bitcoin was one of the first currencey to use the blockchain which meant you could send something worth value to anyone in the world with an internet connection. It was fast, cost very little fees, and it was decentralized (which means no 3rd party like paypal or your bank). Ethereum is special because its like bitcoin but with a programming language built on top of it. So that means you can decentralize the internet and everything that goes with the internet: IoT, finance/banking, gambling, ecommece...literally everything.

The crypto boom we are experiencing right now is similar to the dotcom boom of the late 90s. This type of technology hype only comes every decade or so. Don't let the train leave you behind.

What is crypto like Veeky Forums? It seems like gambling, but your end returns are actually worth it, you don't lose 90% of your money and the coins always pump together at the same time, so there's multiple winning "tickets".

will the Web 3.0 built on Ethereum cost for everything you do because gas cost?

Why the fonk didnt you just use localbitcoins?

>Did I miss my opportunity to get rich lads?

nah, theres a shitcoin pump every week. If you're following the market there are bigger gains to be made than those with ETH.

You dont. That guy was an idiot

A lot of exchanges require you to upload documents so they don't get caught up in money laundering. You can also buy bitcoins from localbitcoins with cash or something and just transfer those into an exchange.