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Started By
Message
re: Official CryptoTalk Thread
Posted on 2/2/18 at 10:01 am to Drew Orleans
Posted on 2/2/18 at 10:01 am to Drew Orleans
I went with others' suggestion of Coinbase and Binance. You'll need both if you plan to buy alts. You send your money to Coinbase, which takes days from a checking account. A credit card will give you immediate access, but I discovered many card issuers do not permit cryptocurrency purchases. You then have to send it over to Binance and that's where you exchange for the alts.
0
Posted on 2/2/18 at 10:01 am to Drew Orleans
quote:
Don’t feel like waiting on Robinhood to allow me to trade crypto so I’m here to ask what ap you guys recommend.
Assuming you are in the US Coinbase/GDAX or Gemini.
Posted on 2/2/18 at 10:02 am to trux83LSU
quote:
it does have a nice little climb happening this morning though. Might die off around .0055 eth, decent sized wall there.
Yes, it's closing in on the USD value of ICX now. Has been for a few days.
Posted on 2/2/18 at 10:05 am to Drew Orleans
Gemini or Coinbase. Either way, you may miss some prime buying due to the time it takes to get verified and accounts linked
Posted on 2/2/18 at 10:05 am to OleWarSkuleAlum
Can I buy portions of a coin on coin base? Don’t want to invest 10k in this until I know what the frick I’m doing.
Just looking to start with a few hundred bucks right now.
Just looking to start with a few hundred bucks right now.
Posted on 2/2/18 at 10:06 am to RATeamWannabe
Just downloaded coinbase.
Posted on 2/2/18 at 10:06 am to Drew Orleans
quote:
Can I buy portions of a coin on coin base?
Yes
Posted on 2/2/18 at 10:07 am to Drew Orleans
quote:
Can I buy portions of a coin on coin base? Don’t want to invest 10k in this until I know what the frick I’m doing.
Yes you can buy fractions out to 8 decimal places.
Posted on 2/2/18 at 10:08 am to OleWarSkuleAlum
Looks like the BTC bottom is in.
Posted on 2/2/18 at 10:09 am to Drew Orleans
quote:
Drew Orleans
Do all the KYC you can on Coinbase to increase your limits. If you are just going to play with a couple hundred for now it isn’t a huge deal for now. Also although it will probably take 10 days for your ACH to deposit Coinbase honors the ETH price you bought at.
Posted on 2/2/18 at 10:11 am to OleWarSkuleAlum
Oh god. I need you to dumb down what you just said. Mainly the acronyms. Ha
Posted on 2/2/18 at 10:12 am to Drew Orleans
KYC is know your customer. Basically they need your address, a photo ID, your birthdate, etc. This is for regulatory reasons and generally good practice. So your limit may start out at $250 a week, but as you complete more KYC steps it will bump up to $10k+
Posted on 2/2/18 at 10:13 am to RATeamWannabe
Damn. So I won’t be able to capitalize on the current drop?
Posted on 2/2/18 at 10:14 am to OleWarSkuleAlum
Sweet. Thanks
This post was edited on 2/2/18 at 10:15 am
Posted on 2/2/18 at 10:14 am to Drew Orleans
Know
Your
Customer
Regulation the Tax Authorities require banks to verify your identity.
ACH - Ancient 1970’s bank money moving technology that takes forever.
ETH - Etherium.
Get some LTC as well.
Your
Customer
Regulation the Tax Authorities require banks to verify your identity.
ACH - Ancient 1970’s bank money moving technology that takes forever.
ETH - Etherium.
Get some LTC as well.
Posted on 2/2/18 at 10:15 am to Drew Orleans
ACH is just a bank account withdrawal to Coinbase. For your first one it probably will take around 10 days to post to your account. So let’s say you buy ETH which is Ethereum for $850 today you won’t get the coins in your wallet until 12 FEB. you are locked in at the price you bought for though. So ETH is $1k on 12 FEB your basis is still the $850.
Posted on 2/2/18 at 10:18 am to OleWarSkuleAlum
Posted on 2/2/18 at 10:23 am to Drew Orleans
Current prices could stay down due to people trying to make quick profits and selling as soon as its in the green again.
Who knows
Who knows
Posted on 2/2/18 at 10:30 am to Drew Orleans
quote:
Drew Orleans
What I’ll tell you is this:
1. Do not invest more than you can afford to 100% lose. This also implies more than you can emotionally afford to lose as well.
2. Do not listen to anyone on here for advice. DYOR Do your own research.
3. Do not FOMO Fear of missing out into shitcoins. Make sure you’ve read the white paper and/or website and know exactly what the coin/token is used for and gauge the long term viability.
If I was starting out in crypto right now some of the coins I would be looking into are ETH, VEN, NEO, ICX, BTC. (Disclaimer I have positions in ETH and VEN)
If you want to start trading alt-coins or coins not listed on Coinbase I can walk you through that process.
Posted on 2/2/18 at 10:32 am to OleWarSkuleAlum
quote:
OleWarSkuleAlum
quote:
2. Do not listen to anyone on here for advice
This motherfricker right here
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