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RE: DON'T miss the boat,Crypto is our future !! INSIDE GENESIS CLOUD MINING
Hey, excuse my noobness with all of this.
I'm looking at starting in Crypto, no idea where to start. I want to invest in a smaller currency sub £20 per coin, and work up slowly.
Whats the difference between mining and just buying standard?
My best advise would be to first dedicate a few hours sitting in front of youtube and learning about crypto wallets,transactions and exchanges before delving in..Maybe check out the Hongkong exchange https://bittrex.com,they trade in most smaller cryptos...I guess it depends what country your in to make the best decision,you really should research into creating a secure wallet to store which ever crypto you choose to invest in first of all,most of the smaller cryps have their own wallets..Your able to store your crypto in the exchanges but obviously they're susceptible to being hacked and drained..I'm in Australia and am currently using https://www.coinspot.com to purchase,their payment system is set up through POLi which is a pretty easy way to pay via credit card for cryptos they trade in...If your looking into the smaller cryptos,i've just invested in CIVIC,XRP,IOTA and TENX..I personally believe they will do well in the future and are rather cheap for now..https://www.coinbase.com would be your easiest platform to use if your new but currently they're only trading in Litecoin,Bitcoin and Ethereum plus their fees are rather expensive but there are ways around that..
There's https://www.gdax.com/ too which is a good one to look into for saving fees..
Basically once you have set yourself up a wallet,maybe start of with Coinbase,although you're able to store in there but again i don't trust exchanges,it's an easy interface to learn on,purchase either Bitcoin,Lightcoin or Ethereum and then head over to https://shapeshift.io/# where your able to pretty much convert one of the latter three into which ever small cryptos you would like and easily forward it too your wallet of choice,just make sure you have created a storage wallet for the exact crypto you choose to buy...Make sure you spend time look into the businesses behind the crypto you end up purchasing,work out if you feel it could be useful in everyday life in the future,the worlds going digital,we're heading for a cashless society and i believe the blockchain technology is what will be adopted by all in the future...I hope this helps you.
PS: Cloud mining is basically warehouses full of GPUs and Graphics cards running at full steam 24 hours a day creating algorithms for the creation of blocks for the block chain..You can purchase contracts with them which you then receive a daily return in which ever currency you have chosen to mine,the more Hash power you purchase in your contract,basically the more daily return you receive...Start off working out wallets before starting to mine,your best way to go with a wallet is a hardware wallet,like the TREZOR which basically enables you to exchange your keys for transactions offline....While your starting off tho,probably be safe with an online wallet,i use https://www.exodus.io/releases/ wallet but it doesn't store the smaller coins but is a good start..Everybody has a different opinion on where to begin,this was just mine..Good luck :)
Awesome, that does help. It's a bit of a minefield at the moment. I will start with some videos and work my way up.
If I need some help would it be OK to drop you a message again? You've been really helpful.
Thank You = D
Welcome anytime :)