Crypto

Coinbase is one of the most established and widely used platforms out there to physically buy coins.

IF you're looking for indexes Robinhood and Webull are easy to sign up and use.
 
If your idea is because you're worried about hackers....

just transfer it into a cold storage wallet and save to a USB drive.

I always stored my coin in a cold wallet

14242373:frostedTip said:
just make sure you spread your money out across a few different ones.
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14242399:zues said:
If your idea is because you're worried about hackers....

just transfer it into a cold storage wallet and save to a USB drive.

I always stored my coin in a cold wallet
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nah not worried about that really. I mean over a few different coins not just all on bitcoin or something. I've thrown a little money at some obscure cryptos and they came through big for me. Well, some did some didn't but the ones that did made up for the loss on the ones that didn't. always good to have a diverse portfolio
 
ahh roger. Yea always diversify your portfolio. Seems like smaller cryptos are rising as well.

14242423:frostedTip said:
nah not worried about that really. I mean over a few different coins not just all on bitcoin or something. I've thrown a little money at some obscure cryptos and they came through big for me. Well, some did some didn't but the ones that did made up for the loss on the ones that didn't. always good to have a diverse portfolio
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coinbase is decent, if your trying to not jump through a shitload of hoops to get started (registration) i would recommend webull, although they dont have a lot of cryptos right now im sure there going to expand there options in the future, and they give spending cash before your funds settle so thats nice, can start right away if you deposit cash during working hours. Robinhood has way more options, but robinhood asked for picture of my SS card, so i stopped using them because that was weird.
 
Thanks guys, I made an account on coinbase. Can I turn any profits on there into irl cash or is it just meant to all eventually be traded into bitcoin and spent as bitcoin? Hope that made some sense
 
14243117:Ryker said:
Thanks guys, I made an account on coinbase. Can I turn any profits on there into irl cash or is it just meant to all eventually be traded into bitcoin and spent as bitcoin? Hope that made some sense
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You would sell your crypto like you would sell a stock to convert it to a fiat currency (ie US dollar). You do this through trading the coin.

You can also convert to different coins. You can avoid a realized gain (something you may have to pay tax on) by converting to a different coin that might be performing well and then convert it to a new coin when that one is performing well and so on and so forth. There's about a 1% reduction in value when you convert tho, but that's not too bad if you're making steady gains. (Edit- you wouldn't necessarily be avoiding tax doing this, as you haven't actually sold the coins yet, you've only converted coins. Once you sell, depending on your tax bracket, you'd pay tax on the profits)

I'm not an expert on this stuff. What I just told you may all be false cuz I'm an idiot. But always remember, crypto only goes up.

**This post was edited on Feb 14th 2021 at 1:28:06am

**This post was edited on Feb 14th 2021 at 1:28:34am
 
-Coinbase, Binance.us, Gemini as your fiat onramp. I love Bitrue as well, great staking rewards. And i accidentally sent 5000xrp to the wrong address on their exchange (always remember memo if sending xlm/xrp to an exchange addresd), but with patience they got my coin back to me.

-start linking your bank ASAP because verification can be a lengthy wait. When i started Ethereum was $25 but by time i finally was verified it was $200.

-fuck Robinhood for more than 1 reason. Never used it i kno ppl buy Dogecoin, but you cant send coin so whats the point? This is the new internet, get your hands dirty, get accounts on a few different exchanges, send coin, lose some coon, lose some money, learn lessons, improve etc. learn how it works. People who bash XRP are ones who have never actually used crypto to make transactions. Yea Litecoin snd Bitcoin cash are cheap to use, but they dont have much development happening behind the scenes.

-if you send bitcoin or ethereum, make sure you look at the transaction/miner fee first and know what ur doing. I almost got charged $270 to send Ethereum from exchange-exchange yesterday, good thing i checked my math.

-diversify. And the more informed you are, you can learn whether growth seems organic or pump and dump. You can make so much money selling your coin that pumped, dont get attached.

always hedge with bitcoin. If butcoin dumps 30%, alts/shitcoin can easily dump 50%+. When the ratio seems to hit bottom, sell some BTC for alts, wait for them to pump in value against BTC, sell for BTC, rinse snd repeat
 
Also we seem to be amid alt season right now. So expect some violent pumps. Vechain gas (VTHO) just went apeshit like wtf.

but be weary as we get into march as ppl take profit for taxes. In theory, were supposed to peak in sept, but nothing is guaranteed.

if you get to take profits, id suggest buying gold. Keep with the “fiat is fucked fake money” theme
 
14243468:Ryker said:
Thanks. How do I find someone to pay me in exchange for my bitcoins?
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Nevermind I found out I can transfer it to a website that can trade it for cash :D I'm all good then no more questions thanks everyone
 
Just cashed some out using USDC (same way i buy in—i buy USDC on Coinbase to avoid all but a few cents of fees and then send it to an exchange to trade). Cost $14 to transfer from Binance to Coinbase (not sure if thats all exchange fee or Eth miner fee as USDC was said to have moved to Stellar), but after that there were no fees on Coinbase to sell and deposit to my bank.

Still 10/10 recommend USDC route. If you’re making ur first crypto purchase sure it sucks your funds might not clear for a week so you could lose out 60% of the time, but that other 40% you might catch a deal. Just great if you dont want to get ripped off since its a flat fee rather than paying like a 3% surcharge to boy coins directly.

Another suggestion, if you’re going to crypto the right way you should realize how quickly dollars are being devalued. Stick with the theme, cash out by buying Bitcoin cash, and use that to buy gold and silver bullion from JMbullion, SDBullion, Apmex etc...

**This post was edited on Feb 15th 2021 at 4:43:01pm
 
Balls deep in REN send’r to ten!

so many good options though it’s crazy.. favorites besides Bitcoin and eth. Link, REn, grt, xlm, OXT, algo, bnt and zrx to name a few of my favorites..
 
14243265:theLiquor said:
-Coinbase, Binance.us, Gemini as your fiat onramp. I love Bitrue as well, great staking rewards. And i accidentally sent 5000xrp to the wrong address on their exchange (always remember memo if sending xlm/xrp to an exchange addresd), but with patience they got my coin back to me.

-start linking your bank ASAP because verification can be a lengthy wait. When i started Ethereum was $25 but by time i finally was verified it was $200.

-fuck Robinhood for more than 1 reason. Never used it i kno ppl buy Dogecoin, but you cant send coin so whats the point? This is the new internet, get your hands dirty, get accounts on a few different exchanges, send coin, lose some coon, lose some money, learn lessons, improve etc. learn how it works. People who bash XRP are ones who have never actually used crypto to make transactions. Yea Litecoin snd Bitcoin cash are cheap to use, but they dont have much development happening behind the scenes.

-if you send bitcoin or ethereum, make sure you look at the transaction/miner fee first and know what ur doing. I almost got charged $270 to send Ethereum from exchange-exchange yesterday, good thing i checked my math.

-diversify. And the more informed you are, you can learn whether growth seems organic or pump and dump. You can make so much money selling your coin that pumped, dont get attached.

always hedge with bitcoin. If butcoin dumps 30%, alts/shitcoin can easily dump 50%+. When the ratio seems to hit bottom, sell some BTC for alts, wait for them to pump in value against BTC, sell for BTC, rinse snd repeat
Click to expand...

on Sunday i am expanding my portfolio further! buying Polkadot, Litecoin, Cardano, buying more more Ethereum, maybe Ripple now sure yet, maybe Tron and Chainlink?

anyone know anything much about Ripple, Tron, or Chainlink?
 
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