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How to get started and buy Ripple (and other crypto currency)

  • 04-01-2018 2:15pm
    #1
    Registered Users Posts: 1,458 ✭✭✭ Tinder Surprise
    Registered User


    This is a very simple guide on how to get started and purchase your first cryptocurrency.

    There are numerous other ways but this is probably the most simplistic for the newcomer until you get to learn the ropes and fly for yourself :)


    1.) sign up to Coinbase.com


    2.) get verified (can take a couple of days)

    3.) Once verified send €uros to you Euro wallet on Coinbase via credit card (instant) or SEPA Bank transfer (up to 5 working days)

    4.) When €uros arrive in your Coinbase account/wallet then buy some ETH on Coinbase.


    Whilst you are waiting on your Coinbase account to be verified sign up for an exchange account.

    sign up to:[URL="https://www.binance.com]Binance.com[/URL] its a very good exchange for starters with a very good selection of cryptocurrencies.

    You can still trade on Binance (albeit limited) whilst waiting to be verified ..no more new registrations available


    5.)Send the ETH you bought on Coinbase to your Binance/exchange account and buy XRP (Ripple)

    6.) Congratulations you've made your first purchase :)

    7.)*N.B* move your cryptocurrency off the exchange into a crypto wallet as its recommended to take your purchase off the exchange(s) due to risk of hacking.



    again; this is just a rough quick guide to get you going, but the same process can be used to purchase many other cryptocurrencies.

    Hope This Helps


«1

Comments

  • Moderators, Society & Culture Moderators Posts: 32,022 Mod ✭✭✭✭ Gumbo
    Moderator


    Is Binance working for everyone?
    I’ve read that their servers are currently not working and I tried to register and gone through the whole process but I get stuck on the log in screen every time.


  • Registered Users Posts: 1,589 ✭✭✭ uli84
    Registered User


    which crypto wallet is recommended?


  • Moderators, Society & Culture Moderators Posts: 15,424 Mod ✭✭✭✭ smacl
    Moderator


    kceire wrote: »
    Is Binance working for everyone?
    I’ve read that their servers are currently not working and I tried to register and gone through the whole process but I get stuck on the log in screen every time.

    Binance is not taking on new registrations at the moment, try Kraken.com as an alternative. Took about three days to get verified a couple of weeks ago.

    6034073


  • Registered User


    Great idea OP, now we can talk exclusively about the moon on the XRP thread :pac:

    Binance went down for scheduled maintenance last night. This is apparently nothing to get overly concerned about and happens when necessary. During these times, keep an eye on their Twitter and reddit.com/r/binance for updates which do come.


  • Moderators, Society & Culture Moderators Posts: 25,535 Mod ✭✭✭✭ Dades
    Would you like to know more?


    uli84 wrote: »
    which crypto wallet is recommended?
    You'll probably need different wallets depending on what coin(s) you're buying. You can't just stuff 'em all into one. (Unless you buy a hardware wallet which you shouldn't if you're just starting).

    Each coin has good wallet options.
    e.g. https://www.myetherwallet.com/ for ETH.


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  • Moderators, Society & Culture Moderators Posts: 32,022 Mod ✭✭✭✭ Gumbo
    Moderator


    smacl wrote: »
    Binance is not taking on new registrations at the moment, try Kraken.com as an alternative. Took about three days to get verified a couple of weeks ago.

    6034073

    Been getting errors with Kraken for the last few days also.


  • Registered Users Posts: 4,310 ✭✭✭ jon1981
    Registered User


    I set toast wallet up and did a transfer in under 10 mins


  • Registered Users Posts: 4,850 ✭✭✭ Mech1
    Registered User


    ok all seems easy enough, how do i withdraw my money?


  • Registered Users Posts: 1,458 ✭✭✭ Tinder Surprise
    Registered User


    Mech1 wrote: »
    ok all seems easy enough, how do i withdraw my money?

    Do the above in reverse :)

    No idea of withdraw fees yet from Coinbase back to €....anyone else experience with what fees are faced? (not on about tax either)


  • Registered Users Posts: 4,310 ✭✭✭ jon1981
    Registered User


    Mech1 wrote: »
    ok all seems easy enough, how do i withdraw my money?

    Move XRB back to an exchange*...convert to btc ... move to coinbase and convert to euro...move to bank...pay tax

    * some exchanges i believe allow a sepa transfer or cashout but bitgrail doesn't.


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  • Registered Users Posts: 4,310 ✭✭✭ jon1981
    Registered User


    Honestly I'm amazed how much of this stuff has been bought given the barrier(s) to buy.

    Must be 90% tech folk with too much cash.


  • Moderators, Society & Culture Moderators Posts: 32,022 Mod ✭✭✭✭ Gumbo
    Moderator


    kceire wrote: »
    Is Binance working for everyone?
    I’ve read that their servers are currently not working and I tried to register and gone through the whole process but I get stuck on the log in screen every time.

    Ok, seems I need to be doing this on the laptop instead of Safari on a mobile device.
    Was able to log in this evening, and my small amount of ETF is currently pending a transfer to Binance.

    Thanks Guys.


  • Registered Users Posts: 1,058 ✭✭✭ johnnykilo
    Registered User


    Binance seem to have temporarily disabled new registrations due to surge in demand. Surely due to you starting this thread OP :pac:


  • Moderators, Society & Culture Moderators Posts: 15,424 Mod ✭✭✭✭ smacl
    Moderator


    kceire wrote: »
    Been getting errors with Kraken for the last few days also.

    Yep, performance pretty awful here this morning as well, but site works after a few refreshes. Sent some BTC to Kraken from coinbase yesterday and still waiting for it to arrive. Will try a small SEPA transfer later to see what the lag is like there.


  • Registered Users Posts: 4,310 ✭✭✭ jon1981
    Registered User


    smacl wrote: »
    Yep, performance pretty awful here this morning as well, but site works after a few refreshes. Sent some BTC to Kraken from coinbase yesterday and still waiting for it to arrive. Will try a small SEPA transfer later to see what the lag is like there.

    Sent some Ethereum from CB at 11pm last night. Still pending. Missed some god damn good gains on another crypto during the night because of it.


  • Closed Accounts Posts: 1,115 ✭✭✭ asteroids over berlin


    Anybody thinking of jumping on XRP, please research first and be aware of all stats.


  • Registered Users Posts: 712 soirish
    Registered User


    @Mods there are affiliate links in OP, are you okay with this?


  • Moderators, Society & Culture Moderators Posts: 15,424 Mod ✭✭✭✭ smacl
    Moderator


    jon1981 wrote: »
    Sent some Ethereum from CB at 11pm last night. Still pending. Missed some god damn good gains on another crypto during the night because of it.

    My BTC from Coinbase just arrived in Kraken now about 16 hours all in to get it across at a cost of €13.


  • Registered Users Posts: 4,310 ✭✭✭ jon1981
    Registered User


    smacl wrote: »
    My BTC from Coinbase just arrived in Kraken now about 16 hours all in to get it across at a cost of €13.


    I know my deals are small time but if I was transferring 10s of thousands I'd be freaking out ... perhaps they prioritise larger trades?


  • Registered Users Posts: 1,458 ✭✭✭ Tinder Surprise
    Registered User


    soirish wrote: »
    @Mods there are affiliate links in OP, are you okay with this?

    I'm the OP


    ????..problem..????

    Does the person signing up not get $10 more 'vs' if they went straight to main page? ..win/win, no?


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  • Registered Users Posts: 4,310 ✭✭✭ jon1981
    Registered User


    I think he means your coinbase link, you'll get a referral fee for it? or is it just the person who signs up?


  • Registered Users Posts: 6,306 ✭✭✭ EagererBeaver
    Registered User


    Post also needs updated as Binance is not currently accepting new users.

    Also, referral links are banned and it's incredibly bad form not to highlight that you were doing it. YouTube also unwittingly revealed your real name which isn't sensible.


  • Registered Users Posts: 1,458 ✭✭✭ Tinder Surprise
    Registered User


    Post also needs updated as Binance is not currently accepting new users.

    Also, referral links are banned and it's incredibly bad form not to highlight that you were doing it. YouTube also unwittingly revealed your real name which isn't sensible.


    Both unintentional breaches and post now edited.

    You'll have to PM me what you mean about YouTube


  • Registered Users Posts: 6,306 ✭✭✭ EagererBeaver
    Registered User


    Ha, that was a typo off phone. Just meant to say "you"!


  • Moderators, Society & Culture Moderators Posts: 15,424 Mod ✭✭✭✭ smacl
    Moderator


    jon1981 wrote: »
    I know my deals are small time but if I was transferring 10s of thousands I'd be freaking out ... perhaps they prioritise larger trades?

    Also very small time, basically money I wouldn't get too upset about losing, just small amounts of BTC and ETH at the moment but would like to pick up some IOTA at some point. I'd only be doing deals of 10s of thousands if I had 10s of thousands I was prepared to lose (which alas, i currently don't).


  • Registered Users Posts: 1,458 ✭✭✭ Tinder Surprise
    Registered User


    Ha, that was a typo off phone. Just meant to say "you"!

    :)...but still let me know how the name reveal occured..thanks


  • Registered Users Posts: 1,058 ✭✭✭ johnnykilo
    Registered User


    :)...but still let me know how the name reveal occured..thanks

    When you click on the referral link for Coinbase, and the registration page appears it says "Such and Such" invited you to Coinbase.


  • Moderators, Society & Culture Moderators Posts: 25,535 Mod ✭✭✭✭ Dades
    Would you like to know more?


    Interesting article about getting into crypto on Medium:
    https://hackernoon.com/mastering-****coins-the-poor-mans-guide-to-getting-crypto-rich-2e469b762ba9

    A couple of weeks old, and laced with some vested interests, but it explains the different spaces well.


  • Registered Users Posts: 1,480 ✭✭✭ Laviski
    Registered User


    this should posted as well.

    2vNQhII.jpg


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  • Moderators, Society & Culture Moderators Posts: 25,535 Mod ✭✭✭✭ Dades
    Would you like to know more?


    I just signed up for this dashboard style portfolio site:
    https://coinloop.io/

    Works great and looks really good.

    My only gripe is their prices don't reflect real-life exchange prices, which seems typical of such sites.


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