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Noob - how to buy coins

  • 07-11-2017 2:12pm
    #1
    Pussyhands
    Registered Users Posts: 8,239 ✭✭✭


    As per the title. How do I buy coins and what do you recommend to buy them? I don't see a beginners guide posted.

    Thanks.


Comments

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


    Just in case you haven't figured this out yet: my preferred course of action is a bank transfer to Kraken, then send whatever main currency I've bought to Bittrex or send ETH to one of my ETH wallets and link it to EtherDelta if I want a token.

    Be wary of what you type in EtherDelta, it won't correct your mistakes and people regularly (every day) buy $1-$10 worth of tokens for many hundreds-worth of ETH because they've fudged their order.

    I've watched people give away thousands in ETH because they've entered something wrong and they've linked their main wallet to EtherDelta.


  • #3
    cml387
    Registered Users Posts: 8,360 ✭✭✭cml387


    grindle wrote: »
    Just in case you haven't figured this out yet: my preferred course of action is a bank transfer to Kraken, then send whatever main currency I've bought to Bittrex or send ETH to one of my ETH wallets and link it to EtherDelta if I want a token.

    Be wary of what you type in EtherDelta, it won't correct your mistakes and people regularly (every day) buy $1-$10 worth of tokens for many hundreds-worth of ETH because they've fudged their order.

    I've watched people give away thousands in ETH because they've entered something wrong and they've linked their main wallet to EtherDelta.

    I think that has it in a nutshell.


  • #4
    brendanwalsh
    Registered Users Posts: 988 ✭✭✭brendanwalsh


    is there any reason to choose kraken over coinbase?


  • #5
    grindle
    Registered Users Posts: 6,026 ✭✭✭grindle


    Apart from a wider selection of currencies to choose from initially, no.
    SEPA transfer to Coinbase, move funds to Gdax (owned by Coinbase) and buy away.


  • #6
    brendanwalsh
    Registered Users Posts: 988 ✭✭✭brendanwalsh


    what about buying directly with a debit card? any reason I shouldn't do that
    thanks


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  • #7
    grindle
    Registered Users Posts: 6,026 ✭✭✭grindle


    Immediate 3.99% loss in fees.

    Not much in the long run but if you're spending a grand you'll be annoyed when that €40 you tossed away could have been €400 or €4000.


  • #8
    brendanwalsh
    Registered Users Posts: 988 ✭✭✭brendanwalsh


    ok thanks.

    is there any specific risk with having my bank account or card directly linked to the site?


  • #9
    grindle
    Registered Users Posts: 6,026 ✭✭✭grindle


    brendanwalsh wrote: »
    is there any specific risk with having my bank account or card directly linked to the site?

    No risk from Coinbase. The only risk would be the bank threatening to act like assholes if you keep buying crypto. I haven't had a (crypto-related) problem with BoI yet - if I had I'd change banks.


  • #10
    Captain Slow IRL
    Registered Users Posts: 3,651 ✭✭✭Captain Slow IRL


    Is it easy to cash out with Coinbase?


  • #11
    ZeroThreat
    Registered Users Posts: 2,180 ✭✭✭ZeroThreat


    grindle wrote: »
    No risk from Coinbase. The only risk would be the bank threatening to act like assholes if you keep buying crypto. I haven't had a (crypto-related) problem with BoI yet - if I had I'd change banks.

    So far I haven't experienced any problems with SEPA transfers from AIB. Anyone here had problems with this bank?


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