I have 4k USD in my bank and I want to get started on crypto, don't care if I lose it all, I'm tired of being poor...

I have 4k USD in my bank and I want to get started on crypto, don't care if I lose it all, I'm tired of being poor. Keep in mind I literally have no idea how to even buy crypto.

Any ideas about how to get started? Is buying half(ish?) of a bitcoin worth it? Will it all crash next year?

Help me get started Veeky Forums

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Go for VTC and hold it for a year...its still undervalued in my opinion...but as always dont thrust someone on the internet, especially not here..do you own research on it and visit Vertcoins Reddit if you have questions.

>Any ideas about how to get started? Is buying half(ish?) of a bitcoin worth it?
sign up on coinbase and buy half a bitcoin. never come back here and get shilled on a scamcoin. hold bitcoin for years.

I was actually reading about vertcoin a while ago, seemed like a good coin to invest in, but then again you never really know. Let's say I want to start small, is it worth it to invest $500 or so in vertcoin? If I lose it I lose it, on the other hand, could I make a decent profit if it turns out to not be just another shitcoin?

1. Get a noob-friendly wallet. Exodus is a pretty good wallet that handles multiple cryptocurrencies. You can use "shapeshift" on it to swap between currencies, but the fees get pretty hefty. You're better off trading manually in that regard.

2. Find a good exchange, I think most burgers use coinbase. Buy whatever you want on there and then send it to your wallet.

3. For more obscure coins, check out Bittrex and EtherDelta (EtherDelta is not beginner friendly so figure out your shit first)

Probably buy ETH and BTC when they dip again. They usually dip, then jump back up like crazy

anyone who uses the word “undervalued” in crypto is a retard or a paid shill either way you’re a faggot and VTC is going nowhere

how do wallets for tokens based off ethereum work? do those get stored in a regular ethereum wallet typically? what's your preferred ethereum wallet?

>ETH
>then jump back up like crazy

no

It's pretty stable jumps, can't really rely on other coins too much

Exodus handles Ethereum as well - plus some ERC20 tokens. You're right, your ERC20 tokens (tokens based off the Ethereum Block chain) share the same address. Exodus just does you the courtesy of showing you some of them (like SALT, FUN, etc.)

For the ones that Exodus doesn't show you, you can use MyEtherWallet (myetherwallet.com/)

This is the main "gateway" for everyoen to access their Ethereum wallets down to the grind stone to access their ERC20 tokens that their wallets don't show.

PBL on EtherDelta, it's cheap as hell right now, you don't even need to put all your money in it, put in like 500 dollars and watch the returns later on. It's an about a week after the coin release which is usually the time when the price is the lowest after an ICO.

why use exodus or myetherwallet instead of the standard Ethereum Wallet?

I just find Exodus a lot nicer to use. You can see your wallets total value, and each cryptocurrency value in it (Bitcoin, Ethereum, ERC20 tokens, etc.)

If you just want to trade in Ethereum and ERC20 tokens then you don't need the Exodus wallet, but as soon as Bitcoin, Bitcoin Cash, etc gets involved (if you intend on investing in those) then you will end up with multiple wallets. Exodus will support Ripple and Monero soon too I believe.

thx.. do you know if it supports LINK or what wallet i'd need to use to hold it?

Also tired of being a poor wagecuck, but don’t have OPs kind of cash.

Is it worth investing on the next bitcoin dip even if its a small amount? Like say $20.

LINK is an ERC20 token, so you can just use your Ethereum address for that. Exodus won't show it in your wallet, but like I said earlier - you can just access any tokens that Exodus doesn't support using MyEtherWallet.

Exodus has a tutorial on how to do it here:

support.exodus.io/article/128-how-do-i-receive-unsupported-erc20-tokens

myetherwallet looks sort of sketchy though

Literally what everyone uses

this desu desu

I started buying bitcoin at $1,500 with my credit card, hodling my savings back. After a few months, I figured out how much I had made and decided to dump some of my savings in. after a few more months, I've basically closed my savings account. I've invested/risked/gambled about $40K but my current worth in crypto is about $115K.

Buy, but make sure you can cover all your bills. I'm not rich, but i have a really well paying job and have very little debt so I felt more comfortable than most, I assume. The biggest problem I had was when I got other people into it and it momentarily dipped.

Oh, and if you don't know shit, don't fucking day trade the stuff, just HOLD it because you aren't playing for daily gains, you need to set your sights 12 to 18 months in the future.

My only thing at this point is how I sell all 11 bitcoin at once since coinbase won't allow that, and how do I dodge the maximum amount of taxes. Maybe some smart faggot wants to help me out with that, maybe not.

A guy I know said he makes a point of buying $2 worth of bitcoin per day. i think that's stupid because of the transaction fees. Set up a coinbase account and buy $10 a week. Since you don't have bags of US dollars, you aren't going to be day trading this shit. Just buy and hold. I've used coinbase. The setup was a little annoying, but whatever. like I said in my previous post, I've made good money off this, but I am not smart enough to quit my salaried position and I never will be. This, to me, will never replace my job. It's just a way to not suffer so much in the future. Working is good, user. Without a job I'd be a complete fucking degenerate.

make a coinomi account.
give them your shit.
buy some DAA.
they poop money.

OP here, I have another question. So buying bitcoin is as easy as linking your bank account to coinbase and just buying it, but how easy is it to sell? I'm scared of seeing my investment go up, but in the end, not really being able to do anything with it, until it crashes.

How much money do you make off this a month? Is it possible to live off a part time job and bitcoin buying?

...

Just buy BTC untill you understand the space.

You can't cash out

stake ark for an easy 9-10% in returns for a year even if the value goes nowhere (it's going up)

So what's the point in the end?

He is full of shit, it's a new meme to say you can't cash out.

That said, some people do believe that fiat (every day real life money) is going the way of the dinosaur and try to accumulate as much crypto as possible, regardless of its real world value, since they think it will be the main currency in the future.

You should save 6 months salary as a nest egg in case catastrophe hits you. You'll find this advice in any book or article you find about investing.

If you must, you should go a very modest route. Buy bitcoin on Coinbase, transfer 25% to Bittrex where you can put that money into the exchange (where all the shitcoins are). You could start with $100 before you decide to all in yourself on Internet monopoly money. Do as you please on the exchange so you familiarize yourself and have some sort of idea what is happening.

I also have heard about bitcoin miners, it turns out that with the 4k i have I could get a miner and a power supply. Is mining a meme or a legit way to make money? Assume I don't pay for my electricity.

Mining used to be viable when Bitcoin was still new - but now it's a meme unless you have an entire warehouse of GPU's running in icelandic temperatures. Even if you don't pay for electricity, still not worth it.

So would you recommend just spending the 4k in bitcoin and holding rather than falling for the mining meme?

>how do I dodge the maximum amount of taxes. Maybe some smart faggot wants to help me out with that, maybe not.
Sell your coin after holding for at least a year. Your taxes will then be no more than 15%. If you sell before holding for a year, it's regular tax rate.

Otherwise never sell, and take out a loan through SALT when they get their platform live.

If your choices are between mining bitcoin and investing in bitcoin, then yeah - buy the bitcoin.

I personally think Bitcoin isn't going to last at these insane prices (look up a video about "Tulip madness" for something I think is suiting for the current situation) so I would advise something like Ethereum - but everyone has been wrong about Bitcoin before so it's up to you mate.

Buy BTC now and wait for the correction and then choose an alt coin to go into.

If I buy BTC on coinbase it says 5-7 days until it’s settled.
Can I still do an immediate transfer to Kraken? Or am I at risk because I need to wait for the settlement?
This is through bank that I have already set up and verified.

The whole appeal of ETH is stable and relatively predictable growth. Yes it's usually slower to move but the dips are not as sharp and it has a tendency to hold while offer alts flip out all over the place. 50/50 btc and eth portfolio right now is serving me very well.

>stable growth
its up over 10x since the start of the year

I was thinking about doing a 50/50 buy. Can you buy ETH on coinbase or do I need different wallets?

You have to wait for the transaction to clear your bank account before you have access to the coins in your wallet.

Buy LINK and hold it for 2 years and watch your investment vanish before your eyes

By stable growth i mean it traditionally does not drop like a stone after a pump.