If your still only on coinbase it seems you may be at the early stages of your crypto journey. I would advise buying some Etherium (only what you can afford) then opening a myetherwallet account and sending to this. For these icos never use an exchange wallet like coinbase to participate. Once your myetherwallet account is opened and you have sent your eth to this then try partake in their public presale round, you can sign up here: https://ico.bitcoinsuisse.ch/ . Date tbc , if you don’t make this then please await instructions for the public sale date . I’m sure if you like the project enough you will find this process easy . Thanks for taking the time to read these articles
lol, I'm not a newb. I already have thousands of dollars worth of Etherium and Litecoin. I'm just looking for a little diversification outside those two.
What do you have against a coinbase wallet? Coinbase has never been hit with a major hack and is a way more respectable than a lot of other smaller shady exchanges. It's easy to pay your taxes on your gains there with their tax center (that way the irs doesn't come knocking on your door). It's also user-friendly, making transacting on it faster and painless.
Sure it's a centralized exchange but who really cares, all I care is that I get my money without a Mt. Gox fiasco. Question: If you put your funds in 'backwater' coin exchange how in the world are you going keep track of your capital gains? (Besides not paying them of course).
You are reading my message out of context. You asked me how to participate in this project (purchase). I said if you plan to , then ensure you use an erc-20 compatible wallet like "My ether wallet". Heck you will even see warnings from these projects during their ICO public sales to not use exchange wallets like coinbase- for the simple fact that unless the project is listed on that particular exchange (which will never be the case with coinbase) you will have no access to it (You will always have your tokens sent to the address you used to buy and is not the projects fault if you use an unsuitable address like coinbase).
Coinbase is a great exchange, one which i use frequently but they dont host any other crypto other than the big 4. Nobody ever sends funds from coinbase to buy ICO tokens. If you were to purchase Orvium with your coinbase eth wallet then you would have no access to your tokens once Orivum send to the contibution address (you coinbase wallet).
As for paying tax and tracking what you spend, yes ensure you cover your tax liabilities, and when you say "how am I going to track capital gains on other exchanges" simple- via my own excel resources and portfolio tracker- it is not hard to keep track of what one owes. Aslo since you mentioned the IRS I assume you are American and as such you need to be carefully as most likely you cannot participate in most of these ICOs unless you are an acrediated investor. I hope this has helped you some more on your queries.
Ughgh! What a pain. Think I'll just stick with the big coins for now. Sure the upside potential is less for mainstream coins but it's also less of a hassle to buy them. (Also most small cap ico's have crap liquidity anyway so it's additionally more of a hassle to sell them). But options are opening up as we speak. Coinbase just recently listed and a new coin and is considering listing 5 others. My portfolio could get some diversification after all.
Could I interest you in some etherium classic? lol
Ha, I am good for eth classic I have enough of these top coins staked away. But I do feel your pain with lack of access to some smaller coins. unfortunately, most of the exchanges are not user-friendly , have low liquidity and mistakes are easy to make.
If your still only on coinbase it seems you may be at the early stages of your crypto journey. I would advise buying some Etherium (only what you can afford) then opening a myetherwallet account and sending to this. For these icos never use an exchange wallet like coinbase to participate. Once your myetherwallet account is opened and you have sent your eth to this then try partake in their public presale round, you can sign up here: https://ico.bitcoinsuisse.ch/ . Date tbc , if you don’t make this then please await instructions for the public sale date . I’m sure if you like the project enough you will find this process easy . Thanks for taking the time to read these articles
lol, I'm not a newb. I already have thousands of dollars worth of Etherium and Litecoin. I'm just looking for a little diversification outside those two.
Ok no worries just the way you phrased it. Just ensure you don’t use your coinbase wallet when buying ( if you plan to )and your all good.
What do you have against a coinbase wallet? Coinbase has never been hit with a major hack and is a way more respectable than a lot of other smaller shady exchanges. It's easy to pay your taxes on your gains there with their tax center (that way the irs doesn't come knocking on your door). It's also user-friendly, making transacting on it faster and painless.
Sure it's a centralized exchange but who really cares, all I care is that I get my money without a Mt. Gox fiasco. Question: If you put your funds in 'backwater' coin exchange how in the world are you going keep track of your capital gains? (Besides not paying them of course).
You are reading my message out of context. You asked me how to participate in this project (purchase). I said if you plan to , then ensure you use an erc-20 compatible wallet like "My ether wallet". Heck you will even see warnings from these projects during their ICO public sales to not use exchange wallets like coinbase- for the simple fact that unless the project is listed on that particular exchange (which will never be the case with coinbase) you will have no access to it (You will always have your tokens sent to the address you used to buy and is not the projects fault if you use an unsuitable address like coinbase).
Coinbase is a great exchange, one which i use frequently but they dont host any other crypto other than the big 4. Nobody ever sends funds from coinbase to buy ICO tokens. If you were to purchase Orvium with your coinbase eth wallet then you would have no access to your tokens once Orivum send to the contibution address (you coinbase wallet).
As for paying tax and tracking what you spend, yes ensure you cover your tax liabilities, and when you say "how am I going to track capital gains on other exchanges" simple- via my own excel resources and portfolio tracker- it is not hard to keep track of what one owes. Aslo since you mentioned the IRS I assume you are American and as such you need to be carefully as most likely you cannot participate in most of these ICOs unless you are an acrediated investor. I hope this has helped you some more on your queries.
Ughgh! What a pain. Think I'll just stick with the big coins for now. Sure the upside potential is less for mainstream coins but it's also less of a hassle to buy them. (Also most small cap ico's have crap liquidity anyway so it's additionally more of a hassle to sell them). But options are opening up as we speak. Coinbase just recently listed and a new coin and is considering listing 5 others. My portfolio could get some diversification after all.
Could I interest you in some etherium classic? lol
Ha, I am good for eth classic I have enough of these top coins staked away. But I do feel your pain with lack of access to some smaller coins. unfortunately, most of the exchanges are not user-friendly , have low liquidity and mistakes are easy to make.