So I know about steem now and I think I know a little bit about Bitcoin and Etherium but outside of that I haven't a clue as how to get into crypto.
I have some questions for those that know about this stuff:
What exchange should I use?
I have used coinbase before to buy steem but is that the best option?
Where should I store my crypto once I buy it?
Is it too late to buy bitcoin now? Has that shipped sailed? How about etherium?
Is it better to buy and sell every day or just buy it and forget it?
I am sure I will have more questions once I get started but any help you could give would be really appreciated.
Image: Pixabay
Here's the good news: You already know how to buy and sell Bitcoin and Ethereum at Coinbase. That's good news because 1) it's easy, and 2) Owning Bitcoin and Ethereum is essentially the usual prerequisite to buying and selling other cryptocurrencies. Note that Coinbase is an exchange that only sells Bitcoins and two other cryptos (sometimes termed "altcoins") — Ethereum and Litecoin. If you want to trade one or more of the hundreds of others, you'll need to open an account at another exchange. Keep in mind that most other exchanges aren't as safe (my editorial opinion) as Coinbase, but that's a whole other discussion, and I'll leave it to others to make recommendations. I will say that a few I trust (today) are: YoBit.net, Bitfinex.com, and Bittrex.com, and those exchanges offer a whole range of cryptos for trade. Once you've set up account(s) there, you can transfer — i.e., "send" — your own Bitcoin from your Coinbase wallet to your wallets at the other exchange. The only advice I'd offer on that score when you're getting started is: Don't go wild. In other words, be conservative and play around with tiny bits of your Bitcoin. Leave the bulk of it at Coinbase. And study a few alt cryptocurrencies online quite a bit before you make a move. Remember, there will ALWAYS be opportunities to profit. If you take a week (or a few weeks) to study before you dive in, your profits will surely be potentiated. I hope this is helpful!
That was so helpful @padawer . Such a clear answer without jargon. I feel like I just got the essentials and now feel less stressed. I really appreciate it. Do you have any suggestions on posts, websites or podcasts you trust so I can learn more or find a couple good ones to start with?
First things first to buy it you could take the easiest route which is Coinbase If you have a debt card takes a few days to verf the card but after that you can purchase BTC but buying it takes a week because Coinbase has to process it you could also take the much faster route which Is localbitcoins and choose a seller that excepts bank deposits and just deposit it into the bank account in person they send you in a mssg to tell you their account info trust me it's safe I've done this over 30 times and wallah the coins are released to your localbitcoins acc thn make a blockchain ACC and (look this up on youtube) and send the coins there to keep them safe and on investing in this no it's not too late considering the fact that it will grow to about 4 to 5 times it's worth now to say the least watch the Bitcoin Market and wait for it to go down a couple hundred bucks then buy it but the easiest strategy known to man is buy it and hold on to it as much as you can in the end you will profit
Amazing @thebusinessman I really appreciate it!
Gave you that follow brother have a great day!!
follow me i will follow you and upvote all your future post lets work together
Done... can you help me with my crypto currency inquiry?
sure,ask what ever you wish
I run a business to help bridge this gap, email me if you're interested and I can stay in touch with you and help you all the way through.
[email protected] is my email
Thanks @ parker.hammer. I appreciate you offering and I will think about it.