Cryptocurrencies - how to trade them?
Hello - sorry if this is a duplicate post in some aspects, but I searched the website for Ether or Ethereum and could not find anything so I'm creating a new post.
I've been advised to start buying some Ether / Ethereum, which is the newest hot cryptocurrency (after bitcoin). I have done some research and like the idea. I would like to buy some.
However, I don't trust any of the online trading platforms, as they all look cheap or untrustworthy. In general it also looks easier to buy these cryptocurrencies than to actually sell them and realize a profit.
Hence, my question is - is anyone trading in Ether (or Bitcoin) and if yes, could you please recommend a platform that works and that you trust, where you have already successfully taken out proceeds?
Many thanks
I'd like to learn as well
I have heard good things about Poloniex / Gemeni / GDAX.
GDAX belongs to coinbase so all the transfers are free
I just recently heard about Ethereum as well, and am starting to do my own research on cryptocurrencies. Did you ever settle on a trading platform? I was leaning toward Coinbase. Have you heard much negativity about removing funds from Coinbase?
I personally use Coin Base, but as someone else mentioned, Poloniex is an option too. Poloniex was hacked in 2014 though but does have cheaper deposit (none) and trading fees (.25% vs. 1% with coin base). Coin base is user friendly and also allows for litecoin and bitcoin trading. Biggest downside is roughly a 5 day transfer wait before you can trade. So essentially, say I bought last friday at $65 a share. I cannot trade or make any move until this upcoming friday even though I have paid for the "coins" and the money has been removed from my account. Feel free to ask me questions or PM me, but I am far from an expert. Coinbase is very trustworthy (relative)
I decided to go with coinbase after some looking around. It is a bummer about the ACH transfer delay, but with a verified account you can move instantly with a debit transfer. I think there's also an opportunity to up your weekly buy/sell limit if you hit a purchase target.
Have you kept up with this? I've been invested in Ethereum for a while now, and Bitcoin for much longer.
Just wanted to hear if you've had any thoughts over the new developments in the last week.
I use Gemini to buy. Getting myself a Ledger Nano S hard wallet to store them soon, and I recommend others do the same. Not a good idea to keep money on an exchange.
I had a good thing going a few months back when I was dollar cost averaging into eth every week. Cashed it all out for another investment though and now I'm massively kicking myself and buying more than ever at its all time highs. Won't be making the same mistake this time around though :-)
Yeah, I'm holding out long on ETH. I don't care if it all falls flat after this big Consensus conference, which I feel is creating a lot of hoopla driving it's current rally. I'll just buy more.
Where are you buying your Ledger Nano S from? Looks unavailable on Amazon.
Agreed, in this for the long haul. https://www.ledgerwallet.com/ - looks like they're backordered currently tho
Dogecoin is the next big thing, it will UPEND and DISRUPT the cryptocurrency world through SYNERGY!
I've used BTC-E. Trade fee of 0.2%
http://www.bitcioinwisdom.com to track
The underlying blockchain protocol cannot scale in order to accommodate real world financial application.
Having said that, using Coinbase or any of these elementary trading platforms could give you some short-term gains.
Thats why there's Iota to solve this problem :), it's still in the development stage though!
poloniex have been pretty shady last few months, so would not put my money there for too long. Waiting for exodus and jaxx wallet to support more cryptos. You guys should check out factom, a coin that is probably worth 1B in a few months, now we are at 100M. looking really good ;)
Coinbase - Secure and trustworthy, have had no issues in the past. Poloniex - Better for trading between currencies but the site has had issues in the past, wouldn't recommend keeping any coins on this exchange for long periods of time Kraken - Similar to above Localbitcoins - If you would like to buy bitcoin without inputting so. security, card info, etc. this is your best option, be sure to buy from a reputable dealer and exchange in a public place Cex.io - good exchange, similar to coinbase in many ways
Always keep your cryptocurrency in a hardware or downloadable wallet, I personally use exodus and find it satisfactory, but if you are holding a large amount I would suggest a hardware wallet or learning to use a paper wallet as your coins will be much more secure. Remember that if an exchange is hacked your coins can be stolen and it is not a flaw in the cryptocurrency itself but rather the exchange which many tend to forget. Always be secure.
Welcome to WSO. Has Kraken had problems similar to Poloniex, or were you just referring to it's function being similar?
Function is very similar but their wallets have been hacked before. I wouldn't suggest holding coins on an exchange like this or poloniex as they are targeted for theft. If you use them for their exchange/trading function and remove your coins afterwards you shouldn't have a problem.
Anyone have a go to article/video that is a good cryptocurrency primer?
Preferably from a well-accredited investor
I use bitcoin.co.id and bitfinex for trading. My ledger blue is coming soon in early August to store my cryptocoins :D
Long Iota! Bitcoin killer!
I know Coinbase gets a lot of bad feedback especially with the Bitcoin Cash fiasco, but I have been using them for Bitcoin & Ethereum and haven't had any issues with them.
I second the Iota and Bitfinex points. Iota will change crypto forever
GDAX is great for Bitcoin, Ethereum, and Litecoin. No to minimal fees for trading and you can use coinbase's wallet to store (it's honestly not a big deal to store crypto in online wallets unless you have a considerable amount)
Bittrex is what you want to use for trading hundreds of altcoins. You can do this by transferring your bitcoins from your Coinbase wallet to your Bittrex wallet and then trading Bitcoins for Altcoins of your choice on the Bittrex trading platform.
If I could name one safe altcoin investment, it would be NEO Antshares. It is basically China's version of Ethereum except it also allows developers to use a common language that their used. Ethereum's developers have to learn a whole new language that is just for Ethereum. The reason I say that this is a relatively safe investment is because NEO is China's premier cryptocurrency that seems to be getting backing from the Chinese government. And if you didn't know, Chinese people love using their own products more than anything. For an example, people in China are using smartphones that you've never even heard of because they rather use that than Apple or Samsung products.
Finally, Ethereum's current marketcap is around $30 billion whereas NEO is only around $1.5 billion, so it has huge upside. Be aware though, because NEO has gone up almost 5x in the last week as it has been getting much more press and media in the western world. My final thoughts are that only invest in cryptocurrencies that you believe in long term and hold onto them even though it is volatile.
The best place to buy and sell bitcoins (Originally Posted: 12/25/2017)
If you are looking for a good place to buy and sell bitcoins without the stress of ID verification and at good rates, Liviacoins is the best option for you
Hey fredkings42, I'm the WSO Monkey Bot...do any of these help:
Who will rescue this thread? DickFuld vonkalay ehelsper
If those topics were completely useless, don't blame me, blame my programmers...
Looking for Bitcoin option trading broker (Originally Posted: 10/12/2017)
Dear All, I am looking for Bitcoin option trading. Could you please tell me where I can buy bitcoin Puts. If possible, please share me which is good broker for bitcoin option trading. Many many thanks for your helps.
LedgerX might let you trade Bitcoin options. Then again, I just found my buddy who loves Bitcoin and bet him it wouldn't hit 7500 by June next year, could be good alternative if you can't find one.
how did that go for you
Best Ways to Safely and Securely Buy Ethereum and IOTA (Originally Posted: 12/23/2017)
As cryptocurrencies have begun to heavily enter the mainstream, security is becoming of great importance, especially to me. I'm looking to enter this space, however I am concerned about the security of exchanges, as we have seen in incidents of the past (mt. Gox, btc-e) that they can falter or be mismanaged. I'm most likely going to keep my coins in an offline wallet although I would like to know a few things:
What is the safest exchange to trade upon? And supports both Ethereum and IOTA?
Which exchange offers the most liquidity?
Best wallet for IOTA? (already have one for Ethereum)
What are good security measures that one should implement when investing in this space?
Feel free to suggest anything else that I failed to ask. I intend for this to be a general how-to discussion on investing in ether and IOTA.
Bump
Use Bittrex and Nano ledger s and trezor are good hardware wallets.
Ab accusantium nulla autem reprehenderit vitae sit. Tempore voluptate ea est. Eum quia recusandae necessitatibus velit reprehenderit. Repellendus ut molestiae soluta molestias aut iusto. Vitae corrupti possimus ut qui.
Dolor qui veritatis ipsam doloribus cum. Voluptatem voluptatum cumque temporibus impedit enim eos aut. Et voluptas nihil esse labore et atque. Voluptate quos voluptate eos nesciunt. Aut veniam fugit aut ea porro eum.
Enim ab hic distinctio a. Provident odio rem blanditiis. Aut dolor eius et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Iste minima magni aliquam perferendis mollitia maiores quis. Blanditiis vitae possimus officiis eveniet dolor quasi similique aspernatur. Omnis perspiciatis beatae enim porro vel maxime.
Aut odit et deleniti error et. Non sint natus saepe nihil tenetur nam reprehenderit.