DO take profits
LoLth wrote: » A thread for users to post their advice / observations. How should a newcomer to the topic choose a cryptocurrency to invest in? How would an investor even start a risk assessment? What hardware should a miner look at sourcing to start? Prebuilt or custom/self build? etc Please post your opinions here to help the community. those wishing to discuss a particular aspect should create a new thread and post a link to it from here (this way the advice stays in one place and easy to read while the side discussions can take place freely without any restrictions of staying on the topic of basic/beginner information)
Dohnjoe wrote: » Don't put in more than you can afford to conceivably lose Don't leave coins on exchanges Don't move very large amounts in one go Do make a plan before you buy and stick to it (rational buying over impulsive buying) Do research the coin you will buy Do print out and save records of your purchases (if you are going to pay tax on it down the line)
wotzgoingon wrote: » Sorry for the N00b question but near the start of this thread someone said do not leave coins on exchanges which is what I have been doing. Where do I store them so?
Dardania wrote: » My problem with adopting crypto is that it isn't as user friendly (yet) as what it is trying to disrupt. There are too many potential mistakes and pitfalls that new users can make,
pro_gnostic_8 wrote: » "If you don't have possession of the private key, you don't own the coin". These paper derivatives are something like rehypothecated gold -- you are holding nothing but paper. If the proverbial ever hit the fan, you could end up with nothing. Worse, these instruments go against the philosophy and principles of crypto -- you can't "spend" them, transfer them, run them thru the blockchain. Crypto is intended to be disruptive of the stock market and the establishment system -- not to be a part of it. Just an opinion.
Still Ill wrote: » Ok, just looking into this before possibly investing soon. Currently have a small amount of bitcoin (just a few hundred) on etoro. Just wanted to have a look at that to start with. I'm interested in buying some actual bitcoin to keep in a wallet along with some other coins. I've read that storing online and on mobile are the least secure methods, so would be more interested in desktop or hardware... So here's the question I have. What happens if you have one of these wallets and your hard disk/USB storage messes up? Are you just completely screwed or is there some sort of retrieval method?
will56 wrote: » Dardania wrote: » Etherum available from the Swedish NASDAQ also for the last week: http://www.nasdaqomxnordic.com/etp/etn/etninfo?Instrument=SSE144581&name=Ether%20Tracker%20Euro%20XBT%20PROVIDER By the same guys that do an ETN for BTC: https://xbtprovider.com/ How does this work, I assume they're not operating as an exchange ?
Dardania wrote: » Etherum available from the Swedish NASDAQ also for the last week: http://www.nasdaqomxnordic.com/etp/etn/etninfo?Instrument=SSE144581&name=Ether%20Tracker%20Euro%20XBT%20PROVIDER By the same guys that do an ETN for BTC: https://xbtprovider.com/
ZeroThreat wrote: » The likes of neo and ripple have large enough market caps to warrant them being supported though.
Whelo79 wrote: » I second this. I can't get my head around the best way to go about it with wallets and encryption and all that stuff. I'm actually afraid I would end up losing it all stupidly somehow.
pro_gnostic_8 wrote: » That is one of the reasons I don't dabble in these and other alts. I won't touch anything that is not supported by Trezor. Perhaps that approach locks me out of some potential big gain on some obscure alt ............... but I do sleep soundly at night. :P
ZeroThreat wrote: » but my neo is on the desktop neo gui wallet, and I also have small amounts of XRP, Vertcoin & ARK on desktop wallets. Unfortunately there's no hardware support for this right now afaik.
pro_gnostic_8 wrote: » You are quite right in being concerned about losing your coin -- more clever and experienced people than us have been conned, scammed, and thieved of their crypto assets. You truly do need to become acquainted with protection and good practice before you even consider spending even a lowly €10 on crypto. Security is everything. You alone are responsible for you holdings as against fiat where your bank is responsible. I refuse to discuss Bitcoin with any of my friends until they educate themselves on security. A brief outline I would advise to you: Read up about wallets. Do not store any crypto on a web wallet, a cloud wallet, an exchange wallet, or on blockchain.info. Do not ever store your coins on your PC. Either use a paper wallet, or a hardware wallet. If going for a paper wallet, you should use an air-gapped computer to generate it or better still a computer that has never been connected to the internet. Alternatively to paper or hardware wallet, you could consider Electrum or Mycelium. I can't vouch for them, I have never used them. All of this stuff is widely available to learn on Youtube or the net in general. Let Google be your friend. After this, you can much more confidently approach buying your first crypto. As the poster above says, this step is quite straightforward.
Sabre0001 wrote: » Is there a handy "how to buy your first coin" guide yet?
will56 wrote: » True, but Bitstamp let me start with V Small amounts so I could get the hang of the system
enda1 wrote: » Kraken has about 3 times the BTC-EUR volume over Bitstamp
