Anyone Invested in crypto?

[A 7.62 Exodus]

ok,the others are on their way. Now, what to buy? Ripple? Dash?

holy smokes, that was a nerve wracking half hour. I didn't realize I had to sell to BTC before I could buy others on HitBTC. Anyway, once I figured that out I did a few market buys and a few limit buys of things.

Here's the coins I'm in now:
BTC
LTC
XRP
XDN
XVG

I went to a list of all the coins and sorted them by market value. Then looked at the ones with largest swings that I could trade on my exchange and get a decent number of shares. My money is on the table for roulette. If XDN goes to $100 I'll be retiring

Are you looking to invest more in one. Or a new coin?

Im big on XRP. I don’t ever see it hitting hundreds of dollars per coin, but $10 per share seems realistic to me.

As for new coins, by crypto buddy recommend Ether. He said it’s really the only one like itself, and therefore has no real “competition” so to speak

 

[hoosierdoc]

Just wanted to spread $ around a bit and see if something pops percentage wise. Looking at everything as a percentage of bitcoin was weird also. Very unnerving buying those things in that format. Totally foreign to me.

 

[nra4ever]

ok,the others are on their way. Now, what to buy? Ripple? Dash?

holy smokes, that was a nerve wracking half hour. I didn't realize I had to sell to BTC before I could buy others on HitBTC. Anyway, once I figured that out I did a few market buys and a few limit buys of things.

Here's the coins I'm in now:
BTC
LTC
XRP
XDN
XVG

I went to a list of all the coins and sorted them by market value. Then looked at the ones with largest swings that I could trade on my exchange and get a decent number of shares. My money is on the table for roulette. If XDN goes to $100 I'll be retiring

thats great news I'm glad you are diversified. I hope that you hit big and get to retire early. This morning was a great time to buy I hope everyone took adavantage of the dip!!!

 

[hoosierdoc]

Earlier today I was down $1100 . Now I am down 190, including all of the fees I've paid. Crazy

Now that I know how to move money around, I will probably pick up more coins in the future. Need to see how easy it is to put money directly into my trading exchange though. Anytging to get away from Coinbase

Next thing to do is figure out how to store These at home

 

[nra4ever]

For storage at home I went with the ledger nano s. It just arrived from Europe today. There are a lot of choices out there. I can see coinbase saying sorry we were hacked all your coins are gone.

 

[hoosierdoc]

What is The benefit of a digital wallet over a paper wallet? Can't a digital wallet be re-created with a key, but if you lose a paper wallet you are screwed?

Wonder what would happen if I rented an apartment in the Caymans and put some massive crypto mining hardware in there. Would those funds be outside US taxation? Since those assets were created in the Caymans?

 

[Spear Dane]

Any suicides yet? So many people are playing what amounts to an electronic confidence game.

 

[CHCRandy]

Earlier today I was down $1100 . Now I am down 190, including all of the fees I've paid. Crazy

Now that I know how to move money around, I will probably pick up more coins in the future. Need to see how easy it is to put money directly into my trading exchange though. Anytging to get away from Coinbase

Next thing to do is figure out how to store These at home

Doc, Now that you have figured out what you have.....what would you think is the easiest way to start buying and selling these things are. I have been watching and thinking of starting since back at post #16 where XRP was .25. I went to order a Ledger the other day and they wanted me to pay in Euros....so I didn't even order it.

Just in your opinion. What would be the easiest way......it sounds like you have been educating yourself on this stuff.

 

[BugI02]

Earlier today I was down $1100 . Now I am down 190, including all of the fees I've paid. Crazy

Now that I know how to move money around, I will probably pick up more coins in the future. Need to see how easy it is to put money directly into my trading exchange though. Anytging to get away from Coinbase

Next thing to do is figure out how to store These at home

I read some technical analysis (full disclosure: not a believer, did it for the schadenfreude) that saw the first possible level of support for Bitcoin at 13500. Analyst didn't seem confident it would hold up. Next level was thought to be just over 8000. Reversion to the mean would be somewhere around 2800-3000

 

[hoosierdoc]

Doc, Now that you have figured out what you have.....what would you think is the easiest way to start buying and selling these things are. I have been watching and thinking of starting since back at post #16 where XRP was .25. I went to order a Ledger the other day and they wanted me to pay in Euros....so I didn't even order it.

Just in your opinion. What would be the easiest way......it sounds like you have been educating yourself on this stuff.

The "easiest" is probably coinbase to get USD in the game. You could also go to a bitcoin ATM and deposit cash and get bitcoin that way, then transfer them to an exchange. As noted up thread there is some annoyance with coinbase for higher fees and values meaning you get fewer coins for your USD than you would in other systems.

Bittrex is a domestic exchange, but they stopped new user creation due to surge in demand so I went with BitHTC. It was a popular one and seems to have robust alt coins that you can trade. Very neat tracking of live trades, bid/ask amounts and such. You can transfer money directly in there but I'm not sure how it works or if it's a domestic company or not.

Try to find an exchange that lets you trade the coins that you want to buy. Then find a way to get USD into the system somewhere, like an ATM or coinbase, and then just transfer in.

but please do not move money based on my advice on these things. I barely know enough to put one foot in front of the other

LTC is about what I sold it at, since I bought these coins this afternoon they have done decent XRP 7.62% (AK ), XDN 11.53%,
XVG 26.36%

I also signed up for STEEM. Takes a while to get approved. I'm fascinated by this digital trend.

 

[CHCRandy]

The "easiest" is probably coinbase to get USD in the game. You could also go to a bitcoin ATM and deposit cash and get bitcoin that way, then transfer them to an exchange. As noted up thread there is some annoyance with coinbase for higher fees and values meaning you get fewer coins for your USD than you would in other systems.

Bittrex is a domestic exchange, but they stopped new user creation due to surge in demand so I went with BitHTC. It was a popular one and seems to have robust alt coins that you can trade. Very neat tracking of live trades, bid/ask amounts and such. You can transfer money directly in there but I'm not sure how it works or if it's a domestic company or not.

Try to find an exchange that lets you trade the coins that you want to buy. Then find a way to get USD into the system somewhere, like an ATM or coinbase, and then just transfer in.

but please do not move money based on my advice on these things. I barely know enough to put one foot in front of the other

LTC is about what I sold it at, since I bought these coins this afternoon they have done decent XRP 7.62% (AK ), XDN 11.53%,
XVG 26.36%

I also signed up for STEEM. Takes a while to get approved. I'm fascinated by this digital trend.

So if I go to an ATM do I have to have a wallet first? Where do you guys get the wallets that are not cold storage? One other question, what is BitHTC and do you have to verify identity?

I have been drawn to this stuff for years. I wanted to buy a miner 5-6 years ago or more and my wife thought I was nuts. I told her this morning though that Litecoin at $145 would double today and she thought I was crazy...then she seen it. I definitely think you can start with a little and trade and make money....I just don't know what fees and taxes will take. I need to try to learn it though.

 

[hoosierdoc]

How much has been lost in Friday's cryptocurrency rout? Nearly $200 billion

holy smokes, $200 BILLION pulled from crypto market today? That's nearly a third of the entire pie.

 

[Kutnupe14]

For storage at home I went with the ledger nano s. It just arrived from Europe today. There are a lot of choices out there. I can see coinbase saying sorry we were hacked all your coins are gone.

Not likely. Coinbase is FDIC insured. So, I'm not worried about a hack. I'm worried about a legal "seizure."

 

[Kutnupe14]

What is The benefit of a digital wallet over a paper wallet? Can't a digital wallet be re-created with a key, but if you lose a paper wallet you are screwed?

Wonder what would happen if I rented an apartment in the Caymans and put some massive crypto mining hardware in there. Would those funds be outside US taxation? Since those assets were created in the Caymans?

Yep, that's exactly how it works. If you lose a digital wallet, you can replace it, and as long as you have your original keys you're good.

 

[hoosierdoc]

So if I go to an ATM do I have to have a wallet first? Where do you guys get the wallets that are not cold storage? One other question, what is BitHTC and do you have to verify identity?

I have been drawn to this stuff for years. I wanted to buy a miner 5-6 years ago or more and my wife thought I was nuts. I told her this morning though that Litecoin at $145 would double today and she thought I was crazy...then she seen it. I definitely think you can start with a little and trade and make money....I just don't know what fees and taxes will take. I need to try to learn it though.

I'm not sure about how the ATMs work in regards to where it's put. It may just print a key for you and you have a "paper wallet" of bitcoin. You can then upload that coin to an online wallet to transfer it in. Shuold be a website for the ATMs with a FAQ.

hitbtc is a currency exchange platform. You can trade 30+ coins. I *think* you can deposit USD as well but haven't looked into it. I don't think I've verified my ID with any documents on hitbtc. Bittrex is another exchange but they shut down new accoutns due to too many requests.

https://www.finder.com/sg/hitbtc-exchange-review (this shows you how to get verified on hitbtc. You have to scan things and email to them. A tad shady from an identity theft standpoint IMO. I have identity protection plans in place. no idea if there's a crypto exclusion though.

whatever you do with online wallets or exchanges setup two-factor authentication. They claim using a google authenticator app on your phone is much safer than a "text me a pin" setups. This is a rotating set of keys that you setup on your phone that links with the website so only your phone and their website knows what key is active at a specific time. That way no one can spoof your phone number and get your PINs. They'd have to physically have your phone I guess.

 

[hoosierdoc]

Verge is up 2400 times this year. Holy smokes!

 

[AtTheMurph]

Not likely. Coinbase is FDIC insured. So, I'm not worried about a hack. I'm worried about a legal "seizure."

Are you sure?

I am pretty confident that only USDs held in your Coinbase account are covered by FDIC and not the cryptocurrencies themselves.

 

[ArcadiaGP]

 

[nra4ever]

Verge is up 2400 times this year. Holy smokes!

Just like all coins that go up. I wish I would have picked up more when it was cheap. I'm still happy with what I have. Missed a lot of great deals yesterday. I learned my lesson to have money ready to go on the next dip.

 

[hoosierdoc]

I am moving more into Coinbase now, they estimate it will be there January 3

will probably sell my remaining litecoin and free up funds for next alt-coin