Buying Bitcoin and other Crypto Currencies

Buying Cryptos

Bitcoin is the 'reserve currency' of the whole ecosystem so this post will mainly focus on that. I will add more posts for other cryptocurrencies as I go along through time. Due to the huge rush into cryptocurrencies by the masses that is just getting started many people have been having trouble using the Abra app. Customer service is slow, or not there, transactions not going through after days of waiting, etc. So I started poking around on line and in my old notes and found some resources that might help you with your predicament.

Most of this I have first hand experience with, some of it is from research. Do your due diligence - don't take my word for anything I write here blindly. I knew less than you when I started most likely. Verify everything for yourself. Heck you will probably be teaching me before long - there is so much to learn!

We will learn together.

The barrier between fiat and crypto is cumbersome at best. Many of the 'mainstream' exchanges have been crushed with an unprecedented onslaught of new clients. There are many ways to get your hands on bitcoin besides the major players like Coinbase and Gemini.

If you have any trouble with these guys there is always Abra, but apparently even they have been experiencing difficulties. Sometimes transactions are not going through. Customer support is taking weeks. UGH. Best I can say is keep trying.

There are still more ways into bitcoin. Like Bitcoin ATM's, althoug I myself have never used one.

Coin ATM Radar
Bitcoin ATM Near Me
Bitcoin of America

If you want to get right at it on a larger scale, GDAX is the place to beat for US citizens. Many of the larger exchanges will take wire transfers after verification processes. The bug boys today are Coinbase and Gemini here in the US.

Local Bitcoins is still my favorite for small pocket change cash transactions.

At the time of this writing Bittrex, and Binance have also stopped new account enrollments. Abra is all jammed up too. I am wracking my brain trying to come up with other alternatives. There are none that I know of or have experience with except Kraken, Hitbtc and Poloniex, but I have never used the fiat side of things on these so I can't speak to that.

Another thing that is coming on is the open source peer to peer exchange. Open ledger is one of these open source platforms and I never really completely grasped what exactly was going on there, so I abandoned it for almost a year. There is no fiat exchange there that I know of either, but it is an alternative in a pinch. I just looked at it a few days ago and it seems to have been developing VERY nicely. I will be digging more deeply into this very soon.

At this point in time, I just have to say, if you are just starting out now and are having a fit trying to get your hard earned dollars into the market at all..........

KNOW THIS: There is a BRUTAL BLOOD BATH COMING

It may be a blessing in disguise that there aren't a lot of great alternatives for you to get into cryptocurrencies if you are not already in; however, at this time the market is a bit overheated so it may be shielding you from paying too much. NOT being able to get any fiat dollars in right this second may very likely turn out to be a good thing for you at this point in time (January 2018).

The cagey Klingon speculator knows when to keep an oversized allocation of dry powder...that being actual dollars- or even better - if you can get BTC or ETH. Stay small. Tiny investments can return into life changing gains. Have fun with it.

Just remember, there is NO HURRY. Do NOT get caught up in all the hype. In fact, if I were starting with no cryptos right now I would not be in a big rush to put a whole bunch of money into this at this juncture anyway. The whole market is fantastically overpriced.

That is not to say this won't go on for another decade without stopping. Honestly, there are only two chances of that happening - slim and none. Still, nobody knows when the current bubble will burst.

And burst it will in grand fashion. It will be declared dead for the three hundred millionth time and the buying opportunities that arise out of the carnage will make the current gains we are experiencing look like chump change play.

When there is that kind of blood flowing - I become Count fukin' Dracula. So - get your ducks in a row NOW.

Position yourself to swoop in near the bottom and you will be glad you were not able to rush in right now....
and then wait for armageddon! It's probably coming faster than we all think.