Beggining to trade in cryptocurrnecy

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posted on Nov, 30 2013 @ 02:18 PM
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I wish to begin trading in cyrtop-currencies, please give me some tips or information on how to start, any replies will be appreciated, thanks!




posted on Nov, 30 2013 @ 02:27 PM
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This sounds interesting. What is crypto-currency?



posted on Nov, 30 2013 @ 02:51 PM
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reply to post by berbishchanish
 


Currencies like Bitcoin etc.

To the OP I would first read websites pertaining to how Bitcoins are mined. Also be cautious with Bitcoin because the price has increased pretty rapidly. I am very excited about the currency but it a market determined currency, true free-markets have high and low peaks. Make sure you aren't buying on the high peak.

Also keep in mind there are other competing currencies to Bitcoin that run off the same model, to my understanding. You might also check them out.
edit on 30-11-2013 by OrphanApology because: d



posted on Nov, 30 2013 @ 03:21 PM
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reply to post by OrphanApology
 


i saw a story on this the other day how when someone bought these in 2009 when they were worth nothing but today they could be worth as much as 4.5 million uk pounds to him.

my point is that you,ve missed the boat on making serious money on this i think.you like me just need to look out for next big thing on the net and hope you see the potential before anyone else does.



posted on Nov, 30 2013 @ 03:46 PM
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omass
I wish to begin trading in cyrtop-currencies, please give me some tips or information on how to start, any replies will be appreciated, thanks!



All cryptocurrencies are shown in real time here

just click on the link of any cryptocurrency and you will be redirected to its homepage and there be informed everything about said currency.

As you see in the charts, when Bitcoin (with the biggest market volume) moved, currencies like Litecoin moved too but its a lot cheaper. Dont go for the cheapest. go for the top five and follow the charts.

But u need to study before you and buy anything at all. My main advice is following;

Buy a currency and do it for the long run (at least a year saving) without speculating it (fast buy sells).

As an example let me tell you about a friend I have who around 15 months ago purchased 40 bitcoins for around 400 USD. As he became skiddish over the volaitlity on the market he sold his coins and thought to hell with it. He got lousy 200 USD. Today those 40 coins are worth 40,000 USD!!! I can tell you he is not happy


So u see...

My advice is to buy Litecoins and those just under it on the list and save them. Those who survive the market volatility will be worth a load of money, the rest will be gone.

Good luck.
edit on 30-11-2013 by johncarter because: (no reason given)



posted on Nov, 30 2013 @ 05:41 PM
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reply to post by johncarter
 


Cannot agree more.

I had 890 feathercoins.

I saw the price move and thought NOW!!!! and made just under $300.

had I held on a few days more I'd have made over $1000USD.

oh well..


I aint rich because of me smarts.. I just aint rich.


oh and btw I did not buy a single coin.. mined them all when they were almost being given away as a new crypto. survived all the claims of scamcoin, all the 51% attacks, all the struggle to be accepted. And then FUBARed it up after a year because I spooked. damn it

Id watch ftc. it's got legs.
edit on 30-11-2013 by winofiend because: (no reason given)



posted on Nov, 30 2013 @ 06:38 PM
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Some tips:
. Be weary of independent of Blockchain account wallets, as it's not suggested to use online wallets- if you must just keep small amounts and only for transfer. Use paper/off line cold storage wallet/s and/or a desktop encrypted wallet.
. If you do become involved try to give back to the community by shopping with BTC instead of cash even once and a while. There's endless places accepting to even gift card exchange and that grows every day.
. The Bitcointalk forums are a good place to start, learn- pluses are to enter into freebie raffles.


sparky31
reply to post by OrphanApology
 



my point is that you,ve missed the boat on making serious money on this i think.you like me just need to look out for next big thing on the net and hope you see the potential before anyone else does.


That's far from what is going on here. Basically if you even start now you are early in the game. There's plenty of potential even to mine other cryptos then sell for BTC, for example. During the last steep rise that made Bitcoin discouraging to many. Currently that's gotta be even more regretful to those trying it now instead of then.



posted on Nov, 30 2013 @ 10:39 PM
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dreamingawake
Some tips:
. Be weary of independent of Blockchain account wallets, as it's not suggested to use online wallets- if you must just keep small amounts and only for transfer. Use paper/off line cold storage wallet/s and/or a desktop encrypted wallet.
. If you do become involved try to give back to the community by shopping with BTC instead of cash even once and a while. There's endless places accepting to even gift card exchange and that grows every day.
. The Bitcointalk forums are a good place to start, learn- pluses are to enter into freebie raffles.


sparky31
reply to post by OrphanApology
 



my point is that you,ve missed the boat on making serious money on this i think.you like me just need to look out for next big thing on the net and hope you see the potential before anyone else does.


That's far from what is going on here. Basically if you even start now you are early in the game. There's plenty of potential even to mine other cryptos then sell for BTC, for example. During the last steep rise that made Bitcoin discouraging to many. Currently that's gotta be even more regretful to those trying it now instead of then.


Giving back! Good advice. I have purchased a few things from memorydealers.com who trade in btc.

Make the thing work. Still need more ltc dealers and aus exchanges tho.

Good tip.





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