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Started By
Message
Official CryptoTalk Thread
Posted on 4/30/17 at 6:42 pm
Posted on 4/30/17 at 6:42 pm
How to Buy/Exchange Crypto/Wallets + Information
If on Coinbase to Binance
- Go to Binance
- Click Deposit/Withdraw
- Find ETH/LTC/BTC coin you have, click deposit
- Copy the address it creates
- Go back to Coinbase
- Go to accounts
- Click Send
- Paste address + amount and enter code
- Wait
DEBIT/CREDIT CARDS ARE INSTANT
BANK ACCOUNTS TAKE 7-10 DAYS
If Coinbase to Gdax
- Go to Gdax
- In top left click exchange pair (ETH/USD, BTC/USD, etc)
- Click Deposit
- Find Coinbase transfer and enter information (will be instant and free)
From GDax to Binance
- Go to Binance
- Click Deposit/Withdraw
- Find ETH/LTC/BTC coin you have, click deposit
- Copy the address
- Go to Gdax- Find
- In top left click exchange pair
- Click withdrawal
- Click ETH/BTC/LTC address
- Put in amount + address + 2FA
Coinbase or GDax to Bittrex
- Go to Bittrex
- Click Wallets
- Find your coin (BTC/ETH/LTC)
- Click plus sign
- Copy Adress
- Go back to Coinbase/Gdax and follow previous steps
(I do not do much on Cryptopia, Poloniex, or Gemini outside of sending coins, but it is a similar process as above)
(To buy coins on aids exchange, it would be similar and depending on exchange I will help)
Types of Wallets
Paper Wallet
Online Wallet, although each coin has different wallets for staking
Coindesk How to Store
What is Staking
Staking
From SaintTiger
Thank you LSUtoOmaha and DBF for introducing Ethereum to the board and for your research.
1) It's a crypto/digital currency like Bitcoin
2) It's trading at about $80 per unit right now
3) You can buy it pretty easily on coinbase. I signed up and bought within five minutes.
4) You can use your credit card (I'm already thinking of manufactured spending).
5) You can only spend $100 per week via credit card unless you provide picture ID, which I'm a little hesitant to do.
6) There is a 3.5% fee on credit cards
7) You can buy much more by linking a bank account
8) I bought 1.2 unite...if it goes to zero I lost $100. If it turns into Bitcoin then I make a lot of money.
ETA: After adding ID I can now buy $300 per week via Credit Card and $5,000 per week via bank draft. Best I can tell, these limits increase with time and usage.
Now, Let's get rich!
If on Coinbase to Binance
- Go to Binance
- Click Deposit/Withdraw
- Find ETH/LTC/BTC coin you have, click deposit
- Copy the address it creates
- Go back to Coinbase
- Go to accounts
- Click Send
- Paste address + amount and enter code
- Wait
DEBIT/CREDIT CARDS ARE INSTANT
BANK ACCOUNTS TAKE 7-10 DAYS
If Coinbase to Gdax
- Go to Gdax
- In top left click exchange pair (ETH/USD, BTC/USD, etc)
- Click Deposit
- Find Coinbase transfer and enter information (will be instant and free)
From GDax to Binance
- Go to Binance
- Click Deposit/Withdraw
- Find ETH/LTC/BTC coin you have, click deposit
- Copy the address
- Go to Gdax- Find
- In top left click exchange pair
- Click withdrawal
- Click ETH/BTC/LTC address
- Put in amount + address + 2FA
Coinbase or GDax to Bittrex
- Go to Bittrex
- Click Wallets
- Find your coin (BTC/ETH/LTC)
- Click plus sign
- Copy Adress
- Go back to Coinbase/Gdax and follow previous steps
(I do not do much on Cryptopia, Poloniex, or Gemini outside of sending coins, but it is a similar process as above)
(To buy coins on aids exchange, it would be similar and depending on exchange I will help)
Types of Wallets
Paper Wallet
Online Wallet, although each coin has different wallets for staking
Coindesk How to Store
What is Staking
Staking
quote:
Proof of Stakes involves buying the coin and keeping in the wallet for a certain fixed period, just like putting money in a fixed deposit for a fixed period. For Fixed deposit, you will be paid an interest as a reward. For Proof of Stake, you will be paid additional coins as a reward.
From SaintTiger
quote:
Cryptocurrency Exchanges Cryptocurrency exchanges are the apps and websites that allow you to trade the various cryptocurrencies that have been developed. Although there are many exchanges, if you are in the US you can only use certain ones, same for those overseas. Right now the 4 popular crypto exchanges in my opinion are:
quote:
Coinbase- if I could illustrate it on a map Coinbase would be the start point and end point for your crypto endeavors as of today and for the foreseeable future. It is the only exchange for US citizens to covert crypto to and from USD. I’ll go over this later. Coinbase has 3 coins you can trade and invest in, BTC, ETH, and LTC. We call these the major coins because they allow you to exchange and buy alternate crytpocurriency coins (alts) on other exchanges. (Yes I know I left a coin out but I’d rather not give that coin publicity, it’s a blatant ruse).
quote:
GDAX- GDAX is a sister of coinbase. It can do all of what coinbase does except the USD conversions/deposits/withdrawals. It has a little more information and analytics than coinbase and some prefer it over coinbase.
quote:
Binance- Binance may seem like the matrix when first signing up. Binance is the most preferred exchange to trade “alts”. It’s relatively user friendly and has most “alts” you would be looking for. If you are wanting to day trade and have a portfolio mostly of “alts” Binance needs to be your second stop. Binance has a .1% trading fee with withdrawal fees that are calculated based on your crypto.
quote:
Bittrex- Bittrex is another popular exchange. Bittrex handles a large amount of trades daily, the exchange has numerous amount of Altcoins , so users can trade all types of coins. Trading fees are .25% on this exchange.
quote:
Please understand that the process to sign-up for these exchanges are very particular for important reasons. On most exchanges you will be required to verify your id by uploading a picture of some sort of identification card (passport, drivers license). When you sign-up make sure your name matches on everything. Lastly, be patient with exchanges. Some exchanges are faster than others and it’s usually dependent on volume. Wait times for sign-up approval vary from 10 minutes to a couple of days, no way around it. I would not recommend these exchanges if they were shady. In my opinion they are taking the right measures to safeguard your information.
There are a many more exchanges but this allows you to get your feet wet. Now I’ll move on to actually investing. As I mentioned before everything starts and ends with coinbase for those in the US.
quote:
How to buy on Coinbase: Coinbase allows you to attach your credit/debit card or a bank account to the exchange for convient trading. Coinbase will confirm your card or account by making a small transaction (usually $1) and will clear it after confirmed. If you chose to attach your credit/debit card you can send and receive money instantly via coinbase. If you choose to use your bank account it take on average 1 week to fully process. The important thing here is that once you have bought a coin on coinbase that price is locked in after you confirmed buy. Obviously that can be good or bad, depending on how you like to trade, just be aware.
quote:
Cashing Out: This is mainly for those wanting to be alt investors. To cash out your returns from alts you need to do the reverse method of the previous paragraph. Start from your exchange and convert your alt to a major coin. Obtain an address through coonbase. As of right now Coinbase is the only exchange you can cash out with. Send your major coin to coinbase using your address. Sell your coin on coinbase, it should be in your USD wallet. You will then be able to wire it to your bank account. The average limit to transfer is $10k. The important thing to remember here is that when your major coin is in limbo from exchange to exchange the value of it can fluctuate.
Thank you LSUtoOmaha and DBF for introducing Ethereum to the board and for your research.
1) It's a crypto/digital currency like Bitcoin
2) It's trading at about $80 per unit right now
3) You can buy it pretty easily on coinbase. I signed up and bought within five minutes.
4) You can use your credit card (I'm already thinking of manufactured spending).
5) You can only spend $100 per week via credit card unless you provide picture ID, which I'm a little hesitant to do.
6) There is a 3.5% fee on credit cards
7) You can buy much more by linking a bank account
8) I bought 1.2 unite...if it goes to zero I lost $100. If it turns into Bitcoin then I make a lot of money.
ETA: After adding ID I can now buy $300 per week via Credit Card and $5,000 per week via bank draft. Best I can tell, these limits increase with time and usage.
Now, Let's get rich!
This post was edited on 1/9/18 at 6:14 pm
Posted on 4/30/17 at 6:57 pm to bayoubengals88
well all im going to say about the $80 value is the market cap is $6B vs Bitcoin around $21B, so whatever you do please dont buy it looking for $1500 like BTC at least not short term. LSUtoOmaha is the one to credit, I just mentioned it in passing where people were mentioning facebook,tesla,bitcoin and all the high tech trades missed bc of valuations.
To me after reading alot about Ethereum, it strikes me as something that could dethrone bitcoin. LSUtoOmaha was dead on mentioning a must buy at $52 on tuesday and its $80 right now.
Coinbase is cool but I hate the limits it has in place I bought $2500 yesterday, and it upped my limit to $2700 today so I bought more using the bank transfer. The credit card limits were $100.
Its actually quite a bit more fascinating if you read about it. Great call by LSU to Omaha.
To me after reading alot about Ethereum, it strikes me as something that could dethrone bitcoin. LSUtoOmaha was dead on mentioning a must buy at $52 on tuesday and its $80 right now.
Coinbase is cool but I hate the limits it has in place I bought $2500 yesterday, and it upped my limit to $2700 today so I bought more using the bank transfer. The credit card limits were $100.
Its actually quite a bit more fascinating if you read about it. Great call by LSU to Omaha.
Posted on 4/30/17 at 7:21 pm to bayoubengals88
Intriguing for sure. I've been following it on Bittrex along with PIVX for a few weeks
This post was edited on 4/30/17 at 7:23 pm
Posted on 4/30/17 at 8:02 pm to bayoubengals88
LINK
Read that link, the founder of coinbase said some things, it was published today, and he thinks ethereum can blow past bitcoin
Read that link, the founder of coinbase said some things, it was published today, and he thinks ethereum can blow past bitcoin
quote:
“There is nothing that bitcoin can do which Ethereum can’t. Currency definition economics While Ethereum is less battle tested, it is moving faster, has better leadership and has more developer mindshare.
quote:
Still, Ehrsam sought to position Ethereum as moving the development of “digital currency” and its technology forward, emphasizing that Coinbase intends to support both protocols, and that it sees them growing together to become “low-level protocols” in what could be a new Internet for value exchange.
Posted on 4/30/17 at 8:54 pm to bayoubengals88
up to 9.5 ETH now.
Posted on 5/1/17 at 9:12 am to bayoubengals88
I got a buddy that's mining ethereum right now. I started to build a machine a while back, but it didn't seem like something I wanted to get into. I was worried that the power cost would be something that would make the margins too tight for my comfort. I probably should have built it.
Posted on 5/1/17 at 4:20 pm to bayoubengals88
Just got in for 2 units. Will incrementally buy more as my limits increase
Posted on 5/3/17 at 8:14 pm to bayoubengals88
Just saw they added litecoin to coinbase.
Posted on 5/10/17 at 12:04 am to bayoubengals88
Of the altcoins i dabble it, xem has been destroying it the last couple months. I'm not saying get in now, but i think I'm up 100-120x last 2 years thats from 50-60 satoshi range up to almost 7000 today. Factor in bitcoin value increase and yeah.
Posted on 5/18/17 at 11:16 am to bayoubengals88
So I pretty much know nothing about cryptocurrency, but I bought 4 units of ETH on coinbase for around $90 because of all the hype in case it went through the roof like BTC did. Looks like is been staying in the $80-$90 range for a while now, and I'm getting a little nervous even though I don't have much money in it. Should I just let it be? Yall think it will eventually get into the $100's this year, if at all?
Posted on 5/22/17 at 12:36 pm to bayoubengals88
Can you buy on coinbase with a prepaid Visa card? I'm hesitant to give my account numbers to someone or something that I know nothing about
Posted on 5/22/17 at 1:53 pm to bayoubengals88
Is coinbase a website or do I need to get the app to start buying?
Posted on 5/22/17 at 3:33 pm to bayoubengals88
I just bought 1 ETH on Coinbase for $171....low stakes, but I don't wanna screw myself if this thing tanks. Hey if I make 20 bucks I'll consider it a victory
how did I do?
how did I do?
Posted on 5/23/17 at 4:37 am to bayoubengals88
I went to create a coinbase account and got a message that they suspended their business in Hawaii
I finally say I'm gonna buy some crypto and I can't. Any other way that's easy and trusted to join and buy?
I finally say I'm gonna buy some crypto and I can't. Any other way that's easy and trusted to join and buy?
Posted on 5/25/17 at 8:56 am to bayoubengals88
BTC trading above $4,200 in South Korea
Posted on 5/25/17 at 1:46 pm to bayoubengals88
What's a reasonable pullback to wait for on this thing before buying it?
I know nobody knows for sure obviously, but is $150 a pipe-dream at this point? $190 just doesn't feel like a good place to jump in for my money
I know nobody knows for sure obviously, but is $150 a pipe-dream at this point? $190 just doesn't feel like a good place to jump in for my money
Posted on 5/25/17 at 2:39 pm to bayoubengals88
Just dipped under $190...I want to buy in so bad, but I'm waiting for my initial ETH purchase to clear (price is locked in but transaction hasn't shown up on Coinbase).
Am I being overly cautious?
Am I being overly cautious?
Posted on 5/26/17 at 9:50 am to bayoubengals88
At the end of the day ETH is a medium term investment. I might play around and trade the smaller cryptos like golem however.
Posted on 5/26/17 at 2:46 pm to bayoubengals88
missed the 143 damnit
Posted on 5/26/17 at 5:30 pm to bayoubengals88
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