CRYPTO BEGINNERS THREAD

FUCK YOUR MOTHERS HEAD IN THE EARS YOU SON OF BASTERD BICH

if u are serious, go to reddit /r/cryptocurrency read stuff there.. and read through some whitepapers of the top20 of coinmarketcap.com, get some feeling and if you find something interesting research it more until you are convinced. then you could buy some alt coin. until then only hold eth/btc.

fuck your mother if you want fuck

Part 1

So, before you get into Crypto you're going to want to know that it's like the wild wild west of investing. The vast majority of the market is driven by speculation and promises of software delivery, as opposed to actual product, so you should anticipate violent fluctuations in your portfolio on a daily basis.

Here are your initial steps:

1. Create an account on Coinbase.com
2. Create an account on Bittrex.com
3. Download the smartphone app "Blockfolio"

Once you have these things done, look online for a bitcoin wallet. A wallet is software that stores your cryptocurrency values, i.e. where all your investments are going to be stored. For bitcoin, I prefer using electrum- it's simple and intuitive. So download electrum; installation should be pretty straightforward. Save your password (and your other wallet passwords) on physical pieces of paper OR you can use a software called Keepass, which is pretty useful when you have multiple wallets with long passwords.

Once you have your BTC wallet set up, you're going to want to go to Coinbase and buy Bitcoin with a credit/debit card. You'll have to establish your card as a method of payment first, pretty straightforward. Once you have BTC in your account (your bank might throw a fit first, because to them using your funds to a cryptocurrency trading site is sketchy), send the BTC you have to your electrum wallet. The address you send to is the long string of characters you see in Electrum under "Receive" tab. Make ABSOLUTELY SURE that the address is correct, or else that BTC is gone. Once the BTC is deposited into your electrum wallet, go to your bittrex account -> wallets -> click on the + sign for Bitcoin, copy the address for that wallet (another long random collection of characters), go to Electrum -> send to that address you see on Bittrex

Part 2

The more interesting part about all this is picking what coins you want to invest in. In the cryptocurrency space, there are two types of coins: mainstream, stable coins (BTC, ETH, LTC) or smaller, riskier coins known as alt coins that have higher potential returns. When constructing their portfolio, a lot of people like to go 50% stable coins, 50% alt coins. I personally went 100% alts because my portfolio money is money I would have used gambling, but I quit gambling after a particularly bad run in Vegas earlier this year.

Investing in stable coins is pretty straightforward. I would consider picking ETH as your stable coin, because of it's massive growth this year- it indicates that it'll be over $1000 in 1-2 years, which is a nice and steady 2-3x return on your investment. Investing in altcoins, however, is far more interesting. My general guide for picking alts is browsing the Veeky Forums catalog and seeing what's shilled, then going to the website for each alt coin and reading their whitepaper/what their coin does and what it plans to do. I then go to reddit and find the subreddit for that coin and read the general information posts they have on the coins there, then I check twitter for tweets on that particular coin, and finally I look up youtube videos for each coin. Veeky Forums is about 50/50 on shilling good coins; NEO, OMG, ARK, IOT, XMR have all been excellent buys. But for each good buy Veeky Forums shills there are also slightly bad buys (BNT, CFI, RDD, XVG, DGB) and also some absolutely awful buys (MYST, KIDSCOIN). It all comes down to your own research and very carefully picking the right coins.

Part 3

Once you know what you want your portfolio to look like, go to Bittrex, go to the BTC markets, enter the symbols for the coins you want to buy and open a buy order. This process should be fairly intuitive but if you're having difficulty google a couple youtube tutorials for buying on Bittrex. Once your buy orders have filled, make sure to download wallet software for each coin you purchased and move your coins from Bittrex to the wallets; DO NOT LEAVE THEM ON BITTREX because on Bittrex your coins are only listed as IOUs instead of coins you actually own and you will not have actual ownership of said coins until they are securely in their respective wallets. Once your coins are in your wallets, check out blockfolio and add the coins + quantity so you can track their price over time. Good luck!

Now donate me bitbeans, if you want.i just copypasted this from another user.
GIBE BITBEANS
2Ua8f8iwyFAeRXQ4oiwDectj3GeEAxc1L2

Which wallets do you recommend for ETH/LTC/XMR/ARK? I'm looking into buying these.

Also, does transferring from Coinbase-->electrum-->bittrex reduce your paper trail so you can evade taxes?

Myetherwallet for ETH, and just search "LTC/XMR/ARK" wallet and download the first one, it doesn't matter really

And no, im pretty sure you can't evade taxes like that

Hello OP, classical Veeky Forumsnessman here.

We will take your money. We will fool you. And just when you think youve caught on, we start telling the truth so you do the opposite

Biz is always 3 steps ahead, good luck newfag, enjoy the bear market of september

Someone told me $400 for OMG would mean a $400bn market cap.

Am I going mad or is it $40bn?

lol more like biz is 3 steps behind
biz is my favourite delayed reaction to the market

>What should I look for in whitepapers
The tech
The company
The Idea

If any of the three suck, you're probably wasting your time. Ideally you want to put your money in something with solid tech principles, a company comprised of established business professionals, or an already established and company (see Omisego as an example), and an idea that you can see actually being both popular and profitable.

>"Established and profitable company" is what I meant to say

>How can i buy cryptocurrency (not just BTC and ETH)?
coinbase, quadriga, xcoins, localbitcoin etc
>What should I know when participating in an ICO?
how to differentiate between genuine hype and shilling. don't send ETH from an exchange
>What should I look for in whitepapers?
memes

i just got fired you peace of shit

Waht are the best place to get good informations about the market?

I've been lurking for a month now and Veeky Forums seems to be only full of shilling and PnD trap.

Is there any greater pleasure in this world than Asian pussy

Holy shit someone used my guide, cool

yes, i said that i copypasted here ^^
ty for sharing that with us

its a psyop, chum
biz isnt what you think it is

this sir

to be completely honest, Veeky Forums isn't all that terrible in exposing you to some of the lesser known projects

omg was shilled on here
district0x was shilled on here
ZRX was shilled on here
Antshares (NEO) was heavily shilled on here

you just have to wade through the cesspool of bitbeans, digibyte, and verge, and don't get fooled into buying shit projects

Why is Verge bad exactly?

This 100%

Link your bank, transfer funds to USD wallet, buy from GDAX (see a youtube video on how to do this, allows you to avoid coinbase fees)

all asses expect third from right are excellent

third from right needs to get the fuck out of the lineup

I'd like to slap a baby in the girl all the way to the right.

Good info, thanks.

no worries, now spend 100k in bitbeans

BRAP.

me on the right

Are there any places to easily buy btc, eth, ltc with lower fees than coinbase?

General advice for noobs is

AVOID stuff which has already x20d x50d or x100d (e.g
NEO OMG etc. )
Go into more niche stuff which has smaller downside potential and is about to make big news in the following weeks and likely x2 or x3 (e.g. EDG BCY etc)

Familiarize with ICOs, avoid those where devs get 66% of the initial tokens, avoid closed ICOs

Stay away from automated bots

Don't trust /biz shills

you can trust biz

LAGGING INDICATOR!!!!!

Is this accurate whattomine.com/asic ?
Can you really make $17 a day with an s9 and digibyte?

gemini is the best. Let me shill them for you.

- 0.25% fee on everything

- Once you deposit cash, they give you the money precredited and you can buy ETH and BTC immediately. Once the money is taken from your bank account in 4 days, then you can withdraw your crypto. Other exchanges, like CB, you have to wait 7 days before depositing from your bank or pay 3.7% fees for debit/credit card.

If you want to use a credit card, but don't want to pay the fees on CB / reached your weekly limit, then the best way is to use Square.

Make an account on Square, point of sale, and then swipe your credit card with the card reader they give you for free. The fee is 2.3% or so, and then the credit is deposited into your bank account. Then move your money to gemini as much as you want.

I buy my BTC on gemini and then transfer it to bittrex / binance to buy alts.

>reading whitepapers

lol my crypto holdings are worth $40k right now and I've never read any white paper. You just trust your gut and go with whatever coin has the best memes. Thats how I got into ETH when it was $12.

Any recommendations for Canadian exchanges? Coinbases fees for funding are ridiculous if you're using canuck dollars and they don't offer withdrawals anymore.

>got into ETH when it was $12
>crypto only worth $40k
Weeeeeeeeeeeeew.

quadrigacx

How does this shit work with capital gains tax?

Another good tip is to look into reading charts and candlesticks. Although TA isn't super effective, it's useful to know what's going on in a chart, that way you can make predictio

Why avoid closed ICOs? Is the keyber thing a closed ICO? I'm currently on the whitelist

What are your thoughts on BCC?

If you're in the states, it's 15% flat up to around 450,000 USD annually which includes salary, wages, etc.

How do you save your coins after buying them. Do you store on cold store usb ubuntu image or do you buy something like a trezzor

kindgirls.com/gallery/hegre/anna-suzie-carina-brigi-muriel/4347/

i'll never get tired of this pic

It isn't but people are stockpiling and to give themselves additional time will make up imaginary fud

Anna S with Brigi, Melissa, Muriel, Suzie & Suzie Carina - Tropical White

Anna is on her period

That sounds awesome. Why do people still recommend CoinBase then?

Must be like bluechip shares.. safer.

0% if you know how to be evil.

>I don't know how, but I like to pretend that I do

>peace of shit

This is the best thing I've read all day. kek.

1. These females aren't Asian, they're mostly russian. Faces you've seen before if you like Met-Art, etc. Pretty sure this shot is Hegre Art.

2. Girl all the way to the right is melissa, I'd know that ass anywhere

fineartteens.com/girl/Melissa

3. Agreed about ass 3rd from the right, but she could be Muriel, which would mean I would have to accept the sub-par ass, as the whole package is exceptional.

hegre.com/models/muriel

>what is the Westphalia peace

Thank FUCK someone made an FAQ about your crypto secrets! I want in on the Moon Missions!

I started mining XMR when it was 13 and have 1 eth now

Would you consider it safe to keep ETH and btc I'm Coinbase? Or do you recommend a software wallet only?

You just need to learn how to read graphs

bimp

Should I use my real name on these bitcoin sites when I make an account?

yes, buying on these sites requires you to verify your identity eg. picture of your face holding a drivers license. If they see your account name is different to the ID they will deny you and you will have to use a new email and restart everything

Is that simply for weeding out the bots? Sounds a bit sketchy.

I can see 3rd from rights cunny