Volume in crypto?

I'm gonna start investing in crypto in a few days for the first time (18 since last month, new job with about $600 in the bank, hoping to buy some LTC, ARK, ANS if it lowers to around $5 before the 22nd, and some ETH) my question is about volume. So if there is a increase in volume (which I understand as an increase in the amount of the currency being sold) should I buy or is it just someone dumping their coin? Like from what I understand high volume means someone or several people sold off or bought alot of coin, so the price will rise or fall, if it falls do I buy up instantly when it just gets lower, or should I not because it's just someone dumping alot of coin and not actually a big change happening to the actual value of the coin? It's kinda confusing, sorry for being such a new shit about it,I'm sick of some bank holding all my money and I'm really interested in investing so I'm trying to learn all I can, I don't expect lambo but maybe some to help pay off college or a decent starter car or something,thanks

Volume is both buys and sells. Higher volume, more activity. Generally speaking, coins with higher volume are less likely to see wild price swings as there are more traders playing the spread (the difference between ask price and offer price) as well as it costs more to influence price through large buys/sells with many people competing. Lower volume coins are more vulnerable to price manipulation since the total outstanding coins available may be limited, and activity light. It's not safe to trust the price of a coin with very low volume.

Don't make rash decisions. You will not be wealthy overnight. Especially not with 600 bucks. It could take years. I'd put half on the good stuff And trade with the other half. But always buy in the dips, not the green. Shit always goes back down at some point. Always.

I don't plan on it. If I could make a thousand (really even just a few hundred) by the time college starts in summer I'd be happy

But if a low priced count has a low volume, wouldn't it be wise to buy into it? Because if it's already low price not alot of people would sell because there'd be nowhere to go but up from there, and the low volume means it'll stay low, but then if it ever reaches a high volume it'll be alot of people buying and the price will rise based on demand for the currency, right?

You can easily double your money this summer on a diversified spread of good coins. Look for small to midsized market caps with unique tech and stable volumes. Whatever coin I suggest is going to get shot to shit by the rest of the board, and they will all shill their bags at this point too. Just do a little homework at bitcointalk and the coins website. Godspeed and may success attend your efforts.

Thanks friendo

1. never panic sell at a loss, hold until it's profitable again even if it takes 3 years
2. don't put money in shitcoins and pump n dumps
3. I spend about 20% of my coin budget fucking around and speculating but 80% are in BTC, ETH, ICO's, ZEC, and LTC

pick a strategy and stick to it.
like this anonhas a % for trading and a % for investing. there is a big difference between the 2. if you want to
"trade" youll need 3 months of learning it unless you want to gamble. It sounds like you want to make some summer money, so without knowing how to trade, investment sounds like your gig.

also, if you are in the US, keep track of your trades and buys/sells because you have to report them to the IRS. since you are a student and dont make much, i doubt you will owe much if anything on small gains. not trying to dissuade you - dont let that bother you, just be on the safe side.

also, from what i know - volume is just the amount of activity (buys and sells) on a coin/stock. the more volume, the more volatility and it can also represent a change in trend. for example, if a feature is released on a crypto, the volume will increase because people will be energized about the coin. some may buy the news, some may sell the news. both affect the volume

In the uk anything you make under 11,000 quid is tax free automatically so there's that.

But don't I need to pretty much gamble to figure out what coins I want to invest in, I mean I'm sure Bitcoin and ethereum are sure things (then again alot of people on here and Reddit have been talking about some split in the blockchain august 1st, which idk what that means entirely but based on what happened with ANT this past day or two, the speculation will fuck with the price and probably lower it). I was planning on buying LTC, BTC, ARK and holding. Then fucking around with other stuff, not buying and trading it, but just holding different stuff for a bit and selling quick.

>So if there is a increase in volume should I buy or is it just someone dumping their coin?


yes

Pretty good strategy desu, what platforms are you using?

Not only do I live in the US, but probably in the most Jew state other than California (new York). My tips from my job get fucking taxed here, it's bullshit. So I wouldn't be surprised if the govt takes 30 to 50% of my profit for a "gibsmedat" tax so all the poor kids can go to free college

What do you mean by platform, like an exchange? Well I was gonna buy BTC with Coinbase (idk now though cause alot of people say it's shit), wanted to use Kraken but they don't operate in my state and since operations in my state are small localBitcoin doesn't work either. Once I buy some Bitcoin I'm gonna send it to bittrex and trade from there to get everything else, then I'm putting it into a desktop wallet until I can get a reliable way to print it for a paper wallet (don't have a printer in my house so I'll probably email my friend the PDFs so he can print them at his work, as far as I know a paper copy has a QR code and you scan it to put your amount you scanned on an exchange, sounds pretty safe to me) also thinking about using Gemini . Paxful also if I can get my PayPal up and running, fucking steam games I necer play I'd rather have those steam cards back to use to buy Bitcoin

Lol fuck that, honestly if you can move out of a major city and move to a medium city do that.

Like aim for 1 mil population at tops, anything more and its just a disgusting rat race.

Please suggest some coins. thanks

I live in the sticks, like no joke my county has more cows than people. I'm the only person looking to trade Bitcoin on localBitcoin from here all the way to New York City. I'm moving near Rochester here in a few months tho for college.

Coinbase is fine for me, but obvs I dont know the situation in the US with when you need to verify your Identity. Its still a pretty a good place to start, I used to used circle before they pulled out.

As for exchanges for memecoins, look into c-cex. but DO NOT give them your bank details, only transfer bitcoin from coinbase so you can then exchange it to whatever you feel like short-term trading with.

That's what I planned on, mainly I was gonna use bittrex or cryptopia for it once I got Bitcoin, the problem is getting the Bitcoin to start. I've been waiting for a debit card to come in, and PayPal has been jerking me around. Are there any sites that I can buy most any alt coin rather than just trading bitcoins for it, or is this a bad idea?

I'd just wait for the debit to come in my dude, when I was a new I looked at the paypal options but they seemed sketchy as fuck

I was really pushing it so I could get in on that ANT spike. I wanted to buy Saturday cause I heard some stuff about it but I thought "eh I should be fine until my debit comes in, how much could it go up" could've made over $400 if I bought the amount I wanted to when I wanted to. Oh well, crypto is gonna continue to grow anyway, just glad I didn't fall for the savings account meme

Can you guys elaborate on this?

If I live i nthe US should I NOT be giving any back acc info to anyone, even coin base? Can you just do everything through personal wallets and just dump money into the system using prepaid cards?

I guess you'd have to get the money out at some point. Are you using the debit card as an in-between for your bank and the exchanges?

fugg
wake up