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RE: I don't have a clue what to do but I want to start buying Crypto? Who knows this stuff?

in #cryptocurrency7 years ago

Here's the good news: You already know how to buy and sell Bitcoin and Ethereum at Coinbase. That's good news because 1) it's easy, and 2) Owning Bitcoin and Ethereum is essentially the usual prerequisite to buying and selling other cryptocurrencies. Note that Coinbase is an exchange that only sells Bitcoins and two other cryptos (sometimes termed "altcoins") — Ethereum and Litecoin. If you want to trade one or more of the hundreds of others, you'll need to open an account at another exchange. Keep in mind that most other exchanges aren't as safe (my editorial opinion) as Coinbase, but that's a whole other discussion, and I'll leave it to others to make recommendations. I will say that a few I trust (today) are: YoBit.net, Bitfinex.com, and Bittrex.com, and those exchanges offer a whole range of cryptos for trade. Once you've set up account(s) there, you can transfer — i.e., "send" — your own Bitcoin from your Coinbase wallet to your wallets at the other exchange. The only advice I'd offer on that score when you're getting started is: Don't go wild. In other words, be conservative and play around with tiny bits of your Bitcoin. Leave the bulk of it at Coinbase. And study a few alt cryptocurrencies online quite a bit before you make a move. Remember, there will ALWAYS be opportunities to profit. If you take a week (or a few weeks) to study before you dive in, your profits will surely be potentiated. I hope this is helpful!

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That was so helpful @padawer . Such a clear answer without jargon. I feel like I just got the essentials and now feel less stressed. I really appreciate it. Do you have any suggestions on posts, websites or podcasts you trust so I can learn more or find a couple good ones to start with?

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