Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on [email protected] for help. Thanks :)
Private profiles - please note that profiles marked as private will soon be public. This will facilitate moderation so mods can view users' warning histories. All of your posts across the site will appear on your profile page (including PI, RI). Groups posts will remain private except to users who have access to the same Groups as you. Thread here
Some important site news, please read here. Thanks!

Absolute Novice looking for advice

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


    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

  • Registered Users Posts: 886 ✭✭✭ JonnyM
    Registered User


    Coinbase is a good platform for beginners

    (Like myself)


  • Registered Users Posts: 2,263 ✭✭✭ garrettod
    Registered User


    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.



  • Registered Users Posts: 40 ✭✭✭ oal22
    Registered User


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


  • Registered Users Posts: 5,667 ✭✭✭ el diablo
    Registered User


    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:

    We're all in this psy-op together.🤨



  • Moderators, Motoring & Transport Moderators, Music Moderators Posts: 12,764 Mod ✭✭✭✭ Zascar
    Moderator


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


  • Advertisement
  • Registered Users Posts: 5,938 ✭✭✭ handlemaster
    Registered User


    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?


  • Registered Users Posts: 5,667 ✭✭✭ el diablo
    Registered User


    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.

    We're all in this psy-op together.🤨



  • Registered Users Posts: 5,938 ✭✭✭ handlemaster
    Registered User


    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 ?


  • Registered Users Posts: 691 ✭✭✭ Uncle Mclovin
    Registered User


    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


  • Closed Accounts Posts: 870 ✭✭✭ scopper


    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.


  • Advertisement
  • Registered Users Posts: 822 ✭✭✭ SkySter
    Registered User


    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.


  • Registered Users Posts: 1,815 ✭✭✭ howamidifferent
    Registered User


    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?


  • Registered Users Posts: 6,026 ✭✭✭ grindle
    Registered User


    How do you get BNB to trade on binance?

    Buy it on Binance.


  • Registered Users Posts: 912 ✭✭✭ chakotha
    Registered User


    Not many mentions of Binfinex. I went with them


  • Registered Users Posts: 6,026 ✭✭✭ grindle
    Registered User


    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.


  • Registered Users Posts: 912 ✭✭✭ chakotha
    Registered User


    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.


Advertisement