A thread request for Crypto buying information

a reply to: tanstaafl

You restore a backup using the mnemonic seed which was generated when you first create the wallet.

This should also be encrypted using a cypher which is stored separately.

originally posted by: network dude
a reply to: ThatDamnDuckAgain

so like a USB memory stick with encryption.
What does it mean to stake a coin?

Let's say an institution wants to issue a token of their own. How to back its financial value? One of the possibilities is staking.

I lend the exchange that mines the new tokens a stack of coins. I get a return rate on the new coins. When the coin goed online for trading, the price is calculated by the coins price I staked. They get converted / bought and I get a cut from the generated coins.

Dodo coin I got about 24% APY interest just stake alone. They were worth around 2.80 when market opened and jumped to 10 dollar for a short moment.

Very crude explained.

a reply to: Grenade

very true. The safest way is a ledger or a trezor. I use a ledger for most of my holdings. although i've had exodus for 4 years now and have no problem with it.

Update on noob status.
I have figured out how to buy bitcoin on coinbase, transfer it to bitrue, and exchange it for VET. For me, this was kind of big. I'm slowly learning the basics, and have to say, several members here have been extremely patient and helpful.

My investment strategy is that of high risk ATM. I like some stability but I have had a few really good luck streaks with stocks, and would love to translate that into the crypto market. I know most of what I do will take a while to either bomb out, or go well, so I can deal with the wait.

But now I'm finding that I need a location to see the new coins that are emerging and be early in getting in on something that may move well.

Where do you go to find coins listed that aren't on the front page with pricing?

(and I'm still not at the wallet/vault level yet, but that is next)

a reply to: network dude

coinmarketcap.com...

Full list of all cryptos.

coinmarketcap.com...

List of upcoming initial coin offerings. I would research each of them thoroughly before investing in their ICO and always use reputable exchange. If you plan to hold your coins long term get them into a wallet for which you own the keys.

Good luck.

I believe coinbase stock will be available tomorrow. Expect it to see decent increase initially before finding its level.

a reply to: ThatDamnDuckAgain

thanks so much for yours and others help with this.
I'm hoping it helps more than just me.

a reply to: Grenade

thanks for that tip. I'll be trying to get some in the morning. Buying stock in things I use is something I do.

a reply to: trollz

Hey Trollz!

What is your opinion on Safemoon and Shiba Inu coin right now? Any information would be helpful in me making a decision on what to do next. Thank You in advance!!

a reply to: ColoradoTemplar

More meme coins with no real service of facility. Their value is inflated by nothing more than hype, hysteria and FOMO. Its pure gambling and eventually their bubble will burst. If you do invest make sure it's on a dip and take any profits then run. These coins are not good long term investments IMO, same as DOGE.

Look to something like VEChain, Solana or Ethereum for long term if you'd prefer to diversify away from bitcoin. Essentially coins with function and an emerging / growing market.

a reply to: ColoradoTemplar

Any information would be helpful in me making a decision on what to do next. Thank You in advance!!

The way you worded your question is alarming.

If you need outside input for confident decisions, what you are really looking for is fast money and greed will make you loose. You're just tricking yourself into the confident decision that isn't yours.

My advice would be to watch the market for a week until you start to do any trades. Before that you make sure you understand the system, can detect trends and then you take a sheet of paper and do paper trades. Look at what it would have done for you. If you start to see more than 2/3 of your trades being at least 5% turnout, you have gained enough confidence to not be sidetracked by impulse decisions.

That's how you generate PNL in daily trades, you go in with a plan and an exit strategy. Watch order books and try to spot patterns. It's financial suicide to listen to internet advice too much about crypto or other trades IMHO.

What if I tell you a good position and the next time you will ask for another one. It's not about wanting to keep you back, but similar to someone I once asked, I don't want to be involved with your destiny.

If you'd tell me you gave me 1000$ for trading and even if it's all lost and I can keep 50% of profit for myself, I would not do it even if I knew that deal is 99% happening. Even if I am loosing nothing and could only gain, it's a kind of no-go.