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Absolute Novice looking for advice

  • 12-12-2017 12:23pm
    #1
    master-t
    Registered Users, Registered Users 2 Posts: 1,379 ✭✭✭


    Hi folks,

    If someone was completely new to going about purchasing Cryptocurrency, where would they even start?

    I've watched so many videos, read so many blogs and posts - my head is mush :(

    All I was looking to do was gain an understanding of the best place to start, but most importantly, find a secure platform where Irish users have had good experiences with.

    I'm not looking for trading advice etc - what to buy etc, should I sell etc. Simply where to start?

    I'd love to hear some people's advice on how they started? Where they went to first, trading fees involved, fast and secure withdrawals etc.

    I can only apologise if all this is housed in another thread - I've honestly gone through Boards a few times but it's hard to find a simple step by step guide to just setting up.

    Many thanks folks,
    T


Comments

  • #2
    JonnyM
    Registered Users, Registered Users 2 Posts: 889 ✭✭✭JonnyM


    Coinbase is a good platform for beginners

    (Like myself)


  • #3
    garrettod
    Registered Users, Registered Users 2 Posts: 2,456 ✭✭✭garrettod


    Hello,

    Coinbase has been down much of today and appears to be overwhelmed by the level of new account applications. Bitstamp isn't far behind....

    Getting into cryptos now may be coming to the party late, it's impossible to tell what's going to happen with any of them so don't put in more money than you can afford to lose :)

    Thanks,

    G.



  • #4
    oal22
    Registered Users, Registered Users 2 Posts: 40 ✭oal22


    Another novice question..... Where would you sell bit coin? Kraken seems to be down at the moment?


  • #5
    el diablo
    Registered Users, Registered Users 2 Posts: 5,767 ✭✭✭el diablo


    Yeah, Coinbase would probably be the best option for new users. Of course you should only invest/speculate with funds that you can afford to lose as these markets are extremely volatile.

    This is a decent channel for all things crypto. He's got quite a few beginner's videos too.

    Data Dash
    https://www.youtube.com/channel/UCCatR7nWbYrkVXdxXb4cGXw/featured


    Or this guy:

    Orange pilled.



  • #6
    Zascar
    Moderators, Motoring & Transport Moderators, Music Moderators Posts: 12,781 Mod ✭✭✭✭Zascar


    Can we get a sticky going for advice and discussion for complete newbies?


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  • #7
    handlemaster
    Registered Users, Registered Users 2 Posts: 6,003 ✭✭✭handlemaster


    With coinbase you only have a few coins that you can buy ? Is the correct .. if I want to buy ripple or stellar where do you buy?


  • #8
    el diablo
    Registered Users, Registered Users 2 Posts: 5,767 ✭✭✭el diablo


    handlemaster wrote: »
    With coinbase you only have a few coins that you can buy ? Is the correct .. if I want to buy ripple or stellar where do you buy?

    Yes you can only purchase Bitcoin, Ethereum and Litecoin on Coinbase. So you'd need to purchase some crypto on Coinbase and then send it to an exchange like Bittrex etc if you want to purchase Ripple etc.

    Orange pilled.



  • #9
    handlemaster
    Registered Users, Registered Users 2 Posts: 6,003 ✭✭✭handlemaster


    el diablo wrote: »
    Yes you can only purchase Bitcoin, Ethereum and Litecoin on Coinbase. So you'd need to purchase some crypto on Coinbase and then send it to an exchange like Bittrex etc if you want to purchase Ripple etc.

    so if I want to purchase and store an altocoin not one of the popular ones whats the platforms i need to use .. most simple and straight forward ?


  • #10
    Uncle Mclovin
    Registered Users, Registered Users 2 Posts: 693 ✭✭✭Uncle Mclovin


    handlemaster wrote: »
    so if I want to purchase and store an altocoin not one of the popular ones whats the platforms i need to use .. most simple and straight forward ?

    I'm using Binance which is a Chinese exchange. It's brilliant. No down time or any issues that other exchanges seem to be having.

    Here's my referral link if you want to try it.

    www.binance.com/?ref=12585559


  • #11
    scopper
    Closed Accounts Posts: 870 ✭✭✭scopper


    handlemaster wrote: »
    so if I want to purchase and store an altocoin not one of the popular ones whats the platforms i need to use .. most simple and straight forward ?

    Bittrex or Poloniex. The latter is a little better as you need to be verified to withdraw on the former.

    Things get a bit murky on the smaller exchanges, I'd avoid them where you can.


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  • #12
    SkySter
    Registered Users, Registered Users 2 Posts: 833 ✭✭✭SkySter


    Uncle Mclovin wrote: »
    I'm using Binance which is a Chinese exchange. It's brilliant. No down time or any issues that other exchanges seem to be having.

    Here's my referral link if you want to try it.

    www.binance.com/?ref=12585559

    +1 on Binance. Transferred in BTC yesterday and bought some NEO. All wallet transfers and trades done in less than an hour which is very good these days. No issues. Also if you are holding NEO on the exchange they pay GAS dividends which is more than Bittrex does.


  • #13
    howamidifferent
    Registered Users, Registered Users 2 Posts: 1,819 ✭✭✭howamidifferent


    SkySter wrote: »
    +1 on Binance. Transferred in BTC yesterday and bought some NEO. All wallet transfers and trades done in less than an hour which is very good these days. No issues. Also if you are holding NEO on the exchange they pay GAS dividends which is more than Bittrex does.

    How do you get BNB to trade on binance?


  • #14
    grindle
    Registered Users, Registered Users 2 Posts: 6,026 ✭✭✭grindle


    howamidifferent wrote: »
    How do you get BNB to trade on binance?

    Buy it on Binance.


  • #15
    chakotha
    Registered Users, Registered Users 2 Posts: 912 ✭✭✭chakotha


    Not many mentions of Binfinex. I went with them


  • #16
    grindle
    Registered Users, Registered Users 2 Posts: 6,026 ✭✭✭grindle


    chakotha wrote: »
    Not many mentions of Binfinex.

    A lot of people wary about their finances - be careful.
    One of the largest exchanges in the world coupled with having bank troubles in the past and THEN seeming to be able to get a hold of $1.2B worth of USD to back Tether up with and constantly managing to get in their own way when it comes to a public audit? Fishy.

    Edit: Binfinex could be right.


  • #17
    chakotha
    Registered Users, Registered Users 2 Posts: 912 ✭✭✭chakotha


    grindle wrote: »
    A lot of people wary about their finances - be careful.
    One of the largest exchanges in the world coupled with having bank troubles in the past and THEN seeming to be able to get a hold of $1.2B worth of USD to back Tether up with and constantly managing to get in their own way when it comes to a public audit? Fishy.

    Edit: Binfinex could be right.

    Typo Bitfinex!

    Shame, nice looking system. I better think about moving to Bittrex or Binance. I read about their hack and subsequent recovering of losses from all user accounts only after I had joined up.


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