Crypto - The basics of investing

This is not investing advice nor do I get paid by any crypto company. I just want to outline some basics of crypto investing to help people who want to start but feel overwhelmed. I know I felt so lost and had no idea what to do.

I am sure you have heard of Bitcoin, Ethereum, and Dodgecoin. Think of these like stocks, you can invest in the coin itself. Just like with a stock, its a good idea to know the business idea behind the coin and the supply.

To invest you need a exchange. Think of the exchange like a Fidelity, Robinhood, or ETrade. Some crypto exchanges are Coinbase, Bittrex, and Gemini. There are many many more but those three are some of the largest and most trusted. Now, you will hear people talk about wallets. A wallet is a way to store your crypto and pay or receive crypto. You do not need a wallet if you just want to buy, hold, or sell the coins itself. Just make sure you use 2FA and have it turned on if keeping the coins on the platform. And use an authenticator and not text. Coinbase has a wallet and so does Meta Mask.

If you decide to use a wallet then you can find a project you like and then stake your coins in that project. This is getting a little more advanced and I would not recommend this in your first year.

Here are a few links for you:

Crypto Prices - www.livecoinwatch.com...
Coinbase - www.coinbase.com...
Bittrex - bittrex.com...
Meta Mask Wallet - metamask.io...
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One of the main issues right now with crypto is the fees ETH charges for using a wallet and investing. If you just buy, sell, and hold coins on one of the exchanges then the fees will not impact you. But if you start getting into staking coins on the eth network then the fees can really add up.

This is just a basic outline. If you have any questions please comment. IMO I think we are set to really take off the last quarter of 2021.

a reply to: MPoling

Im a real noob and got some chain link just before the big plunge beginning of the year, few days ago I bought some xrp.

I have no idea what I'm doing... I'm just going to keep them.
not sure if bitstamp is a good platform for that?

a reply to: MPoling

Crypto may 'behave' like stocks, but they are not; they have no REAL value in anything other than hype. Heck fools gold has more value in real terms.

Also, while I appreciate you giving a basics course on Crypto, and it is everyone's personal choice whether to invest or not, you should at least add the disclaimer to it so they know the whole truth of it.

DISCLAIMER: Crypto currency trade is NOT based on physical assets, rather it is based on stored transactions and the number of transactions able to be done in a set period of time. Some claim to be based off current fiat currencies (Tether on the USD IE) but this is dubious at best. In addition there is no oversight on crypto currency transactions, which means it is a perfect place for criminal enterprises to exchange wealth without recourse. By investing in crypto, you may very well be investing in child sex trafficking and human sacrifice as extreme examples. Also there are no protections for crypto currency investor, so if someone hacks your account and steals all your investments then you are on the hook; the exchanges have virtually ZERO liability so you would have to find the person who stole from you and sue them in civil court; no criminal charges as thewre are no laws protecting crypto. Lastly, and most extreme, if the warehouses that store the transactions that crypto relys on for its value are shutdown by an EMP, all that 'money' is lost.

So in short, high risk for potential high return with no safeguards. For me it has always been a "No thank you."

a reply to: Mikemp44

Oh no what a party popper

originally posted by: Mikemp44
a reply to: MPoling

Crypto may 'behave' like stocks, but they are not; they have no REAL value in anything other than hype. Heck fools gold has more value in real terms.

In addition there is no oversight on crypto currency transactions, which means it is a perfect place for criminal enterprises to exchange wealth without recourse

How does one exchange wealth with an instrument that has no real value?

Also, there's no bigger criminal enterprise than the world banks now is there?

originally posted by: Mikemp44
a reply to: MPoling

Crypto may 'behave' like stocks, but they are not; they have no REAL value in anything other than hype. Heck fools gold has more value in real terms.

Also, while I appreciate you giving a basics course on Crypto, and it is everyone's personal choice whether to invest or not, you should at least add the disclaimer to it so they know the whole truth of it.

DISCLAIMER: Crypto currency trade is NOT based on physical assets, rather it is based on stored transactions and the number of transactions able to be done in a set period of time. Some claim to be based off current fiat currencies (Tether on the USD IE) but this is dubious at best. In addition there is no oversight on crypto currency transactions, which means it is a perfect place for criminal enterprises to exchange wealth without recourse. By investing in crypto, you may very well be investing in child sex trafficking and human sacrifice as extreme examples. Also there are no protections for crypto currency investor, so if someone hacks your account and steals all your investments then you are on the hook; the exchanges have virtually ZERO liability so you would have to find the person who stole from you and sue them in civil court; no criminal charges as thewre are no laws protecting crypto. Lastly, and most extreme, if the warehouses that store the transactions that crypto relys on for its value are shutdown by an EMP, all that 'money' is lost.

So in short, high risk for potential high return with no safeguards. For me it has always been a "No thank you."

fiat currency has no "real" value either
crypto is easier to send & receive

originally posted by: acackohfcc

originally posted by: Mikemp44
a reply to: MPoling

Crypto may 'behave' like stocks, but they are not; they have no REAL value in anything other than hype. Heck fools gold has more value in real terms.

Also, while I appreciate you giving a basics course on Crypto, and it is everyone's personal choice whether to invest or not, you should at least add the disclaimer to it so they know the whole truth of it.

DISCLAIMER: Crypto currency trade is NOT based on physical assets, rather it is based on stored transactions and the number of transactions able to be done in a set period of time. Some claim to be based off current fiat currencies (Tether on the USD IE) but this is dubious at best. In addition there is no oversight on crypto currency transactions, which means it is a perfect place for criminal enterprises to exchange wealth without recourse. By investing in crypto, you may very well be investing in child sex trafficking and human sacrifice as extreme examples. Also there are no protections for crypto currency investor, so if someone hacks your account and steals all your investments then you are on the hook; the exchanges have virtually ZERO liability so you would have to find the person who stole from you and sue them in civil court; no criminal charges as thewre are no laws protecting crypto. Lastly, and most extreme, if the warehouses that store the transactions that crypto relys on for its value are shutdown by an EMP, all that 'money' is lost.

So in short, high risk for potential high return with no safeguards. For me it has always been a "No thank you."

fiat currency has no "real" value either
crypto is easier to send & receive

Paper currency will be gone in 5-10 years, Central Bank Digital Currencies will be the standard. "Worthless" or not, the smart move is to get in early because once they make the switch there's no going back.

a reply to: Terpene

You hold that Link.
Do not be tempted to sell it. I first got into Link at $5.
I own a good chunk of it.
And I know it’s potential. I’m not selling a single one.

a reply to: Mikemp44

So there is a lot to breakdown here. Sounds like you may have lost some money and are a little bitter around crypto.

Point 1: No oversight on crypto? This is false, the blockchain itself has way more oversight then any institution.
Point 2: By investing in crypto you invest in child trafficking? Are you serious? What evidence do you have of this? Paper dollars are untraceable and used more in criminal enterprises than crypto. The MSM tries to tie crypto to crimes but that is just not the case.
Point 3: No protection? Coinbase privately insures itself. If you setup 2FA with an authenticator then you should be good. If you are really scared then use a cold wallet. Im sure all those invested in GME were "protected" when it started moving. Robinhood and multiple other exchanges stopped trading. That is criminal.
Point 4: EMP? If that happens then the stock market is toast as well, crypto will be the last concern. And no all the money is not lost. Once again please do some research on blockchain technology.


I dont want to steer anyone but I do want to kill some of the fear that the MSM and governments put out there. And if you are really nervous then just invest in GBTC. Its the stock version of Bitcoin.

Paper currency will be gone in 5-10 years, Central Bank Digital Currencies will be the standard. "Worthless" or not, the smart move is to get in early because once they make the switch there's no going back.

The above statement is so true. There is a reason that Mastercard, Rouge Fitness, and multiple others are either using crypto or investing in it. Digital payments are the future. Better to understand and invest now then wait. I remember my grandparents saying they would never get a debit card because it can be stolen, ext.

originally posted by: Terpene
a reply to: MPoling

Im a real noob and got some chain link just before the big plunge beginning of the year, few days ago I bought some xrp.

I have no idea what I'm doing... I'm just going to keep them.
not sure if bitstamp is a good platform for that?

Bitstamp is fine. Link can move, has had a nice run the last 24 hours. Im looking at Polygon to jump at some point the next few months. To many people and companies using it. Heck Tom Brady is using them for his NFT.

a reply to: MPoling

I've been doing it a long time, avoid Doge, it has and always will be a joke. Elon Musk should be ashamed for his role in it's price inflation.

The following coins would be my picks over the next year if you're looking for just hodl and outperform bitcoin.

VET, Polygon (MATIC), Ethereum, Solana and my outsider is Polkadot.

Avoid #coins unless you have a hot tip and for god sake take your profits. Early in my crypto career i'd see 300% gains and take nothing as i was greedy and cases of severe FOMO. If any of your investments breakout well above the market trend then sell and buy back in the inevitable bounce correction.

Also, listen to what Ksihkehe has to say at all times, i'm currently emailing with a big thank you after a rather profitable endeavour based entirely on his analysis.

a reply to: MPoling

Don't even waste your breath lol soon another guy will show up saying crypto is tulips. Gotta spread the FUD. Gotta spread mis and disinfo. Confuse and obscure. Panic and sell. These seem to be the tactics of a threatened entity scrambling to stay on top of the revolution that is crypto assets.

Just buy and hold see where it's at a year from now. There will always be ups and downs, ignore the FUD. If you're really new you can always just stick to bitcoin. Some of these other coins may indeed not make it but bitcoin is old faithful. A perfect instrument to store/transfer wealth across any borders and to any currency. There's also a limit to the amount of bitcoin that will be available...keep that in mind. At some point all the bitcoin that can be mined will be mined.

Right now I'm waiting for Cardano to moon as smart contracts just went live. Also got 10 Solana at $91 each (Everyone was saying don't fomo buy right now!) And it ran to over $200 per coin. Turning $915 to $2100 in just a few days. 10/10 would do again.

Crypto is very volatile. Not to be confused with risk. Long-term is not risky at all. If you're trying to day trade crypto...you are a maniac! Lol but more power to you. I was always a buy and hold guy, never wanting to take profits out, which is fine and will definitely work. But if you want a little extra kick, when you got coins pumping, take a little percentage out. Why? Not to go spend it. But to buy more at a reduced price when it re-traces, which it will more often than not. If timed right it's free tendies as they say on reddit. If it just keeps mooning? That's good too because you only took out a small percentage. But being prepared for a dip And being able to take advantage is superior to a straight hold.

And of all things I've learned investing...The hardest thing to do is invest when everything's red (like you're supposed to) in my brain I'm thinking "everything is tanking! Why would I throw money at this! It's gonna go lower!) And likewise pull out your profits when everything's green when your thinking "it's just gonna keep going up! Don't withdraw now you'll lose free money!" It's a tightrope to walk for sure.

originally posted by: Grenade
a reply to: MPoling

I've been doing it a long time, avoid Doge, it has and always will be a joke. Elon Musk should be ashamed for his role in it's price inflation.

The following coins would be my picks over the next year if you're looking for just hodl and outperform bitcoin.

VET, Polygon (MATIC), Ethereum, Solana and my outsider is Polkadot.

Avoid #coins unless you have a hot tip and for god sake take your profits. Early in my crypto career i'd see 300% gains and take nothing as i was greedy and cases of severe FOMO. If any of your investments breakout well above the market trend then sell and buy back in the inevitable bounce correction.

Also, listen to what Ksihkehe has to say at all times, i'm currently emailing with a big thank you after a rather profitable endeavour based entirely on his analysis.

I learned a lot from the lot of you. Got into Ethereum at the perfect time, and I keep looking for those elusive new cheap large risk coins. I can't thank you all enough. Keep spreading the knowledge.

a reply to: network dude

It's not really my thing as am a righteous MOFO but have a look at XRP anytime it dips below a dollar. It seems to have good support around there and the SEC case looks dead in the water. I was tempted to buy in today as it's at a 1 month low against BTC and the rumble on the grapevine is quite positive atm.

As for cheap and elusive checkout ICP, it has plenty of room for growth, is an interesting concept, has some real genius behind it and is way short of its initial offering price. I lost a fair amount as i bought before general release when it was only available on coinbase pro. Think i paid $300 per coin and it's bombed to $30 but i can see a recovery incoming and it has the potential. When i did my analysis originally i expected a price around $1000, one of my mistakes but i still hold and keeping the faith.

a reply to: Mikemp44

What a load of blue pill nonsense.

For me it's always been extremely profitable, consistent and prolonged profits.

Is your USD or GPB backed by physical assets? Does it have a finite and secure supply?

There's far more criminal enterprise funded in dollars then there is in crypto and that's a fact. The only difference being the largest fraudsters in the banking industry are also the regulators.

Typical FUD from an archaic perspective with no understanding of crypto, decentralised finance or economics. Only an idiot or shill would be defending or promoting the dollar above bitcoin, especially in a time when national governments are on a money printing spree and rampant inflation is incoming.

An EMP shutting down every worldwide bitcoin node, what a load of utter garbage.

Well done, you win the ignorance of the day post. You have absolutely no idea what you're talking about.

a reply to: underpass61

The same way we buy a hot dog from 711 for $1.99. It has value because we agree it does.

I cannot argue that point, but there are rules they have to follow and paper trails, though I agree that doesn't do much good.

a reply to: Mikemp44

The same way i can sell a bitcoin for $50,000 dollars tomorrow that cost me $10,000 only a year ago.

Yeah, what a scam. (the dollar i mean)

a reply to: Mikemp44

If I have my keys stored in a cold wallet, they are in fact a physical asset.

Semantics.

We could also make an argument where physical assets aren't really owned. Land for example

a reply to: MPoling

Sorry buddy wasn't trying to derail you and I am happy that this gives the little guy an oppurtunity to make real money without having $100k to throw in it, but it is extremely dangerous.

1) Yes there is secure encryption, but there is no controls on manipulation, AKA 'pump and dump'
2) Yes I know it is a wild thought, but it is a growing problem world governments have recognized and it is happenning. It's the double edge of the sword, and I can trade you crypto right now with virtually no paper trail. If you deposit an envolope for $10,000.00 cash at a bank, you will have to fill out forms for it to trace it's origin. Crypto I could trade you $1 million and no one but the exchange would know.
3) They might carry private insurance, but you and I both know they are not going to pay you out on a claim, just like good ole regular insurance we all carry; they will fight you tooth and nail, and without regulation they have the upper hand. You can literally google the most recent case.
4) Yes, but the stock exchange has paper trails, physical documents and deeds that backup the assets, so while it would be a $hitshow you would have some recourse. Crypto its gone in a poof. And yes I know it's extreme, but it doesn't have to be an EMP, and nasty virus could achieve something similar.

Long story short just know the risks. I have never invested in a single crypto, I did a lot of research on it a couple years back and the one thing that stuck out to me is that it directly threatens world governement's financial power. History dictates...