Is it true what people are saying? Just buy bitcoin and sell it for stupid profits? Invest in no named crypto and become a millionaire? Coin base is the way to go for cashing out?
It's all so confusing. I started looking into cryptocurrency 3 hours ago and now I'm considering spending £200 on a meme currency. What the hell is going on. Where do I go from here?
I'm not going to make it \biz\. Help me please.
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Lurk more + be ready to lose money, most learn through trial and error.
before you put significant money into crypto you should learn how it works on a high level and how to store and use it properly. learn how mining works and the concepts behind basic cryptography jargon like hash functions and nonces. Read the fucking bitcoin whitepaper. don't leave too many coins on exchanges if you aren't actively trading. At the same time don't withdraw to a wallet if you aren't 100% confident you won't fuck up and lose your coins. That's why I'd advise against putting too much money in before really understanding what you're doing. Don't buy anything shilled on this board that isn't BTC/ETH/LINK until you really know what you're doing and do extensive research on your own.. The vast majority of shitcoins shilled on this board are absolute scams with zero liquidity. If you buy in you're getting dumped on. Remember that this is a new and highly unregulated market and if you get scammed there's usually zero recourse.It's a serious fucking rabbit hole though. I've literally been precisely on one date in over two years. If you're just tossing in 200 quid and it's not a lot of money for you then go for it. I bought my first .25 BTC in 2013 for around that much. Still haven't made it yet due to a number of factors that are mostly my fault but I'm still learning.
ignore this faggot just buy anything and get rich
just pretend buy and sell. dont actually do it but simulate by tracking what price you would buy/sell then calculate your progress over a month
How's the weather in Dhaka?
Just buy a little from Coinbase to understand it more.
£100 BTC, £100 Ethereum, then transfer them to a new wallet to see how that works.
If you are the potential after that, then put in more money. Just crypto isn't an investment, it's a new monetary paradigm.
Put your 200 britbongs into AKRO that’s like 30,000 AKRO right now
I don't even know how wallets work bro's. I'n just some wageslave living in a country no one can find on a map. The only trading I have experience with is "buying low selling high" on team fortress 2 (LOL) and that went pretty good but I'm so in over my head on here.
nah better to do it over a year or more, then youll REALLY know if you wouldve made money or not
is £200 a lot of money for you?
200 pence is a lot of money to me. I'm not looking to make thousands but making money off crypto would be a nice little side gig. And the more I learn about crypto, the more I'll think about seriously investing but I don't even know where to start. This is a rabbit hole idk if i can climb out off.
a year is way too long, by then everything will have pumped. if theres no risks theres no rewards
breakermag.com
None of this stuff is perfect by the way. If you really get into crypto you'll realize there are flaws and tradeoffs in every coin, even the ones that aren't scams. I'd advise against tossing your life savings into this stuff before you understand it more. I know that FOMO can get to your head but I don't want to see you get burned.
I haven't been here since pivx whats the hot new scamcoin everyone will invest in next week
>Is it true what people are saying? Just buy bitcoin and sell it for stupid profits? Invest in no named crypto and become a millionaire? Coin base is the way to go for cashing out?
>It's all so confusing. I started looking into cryptocurrency 3 hours ago and now I'm considering spending £200 on a meme currency. What the hell is going on. Where do I go from here?
If you understand what crypto is you'll be cautiously afraid, not excited to "cash out."
From what I can gather about crypto, it is ...
> Extremely voalatile
> Has value only because of centrality (not owned by a bank but by people)
> Very risky, but potentially very high rewards
It's all so tiresome.
>$200
ive dumped $100K into this market and no signs of stopping. I'll fly or fucking die on it because FUCK WAGEKEKING UNTIL 60
You should position yourself such that
1) you won't feel pain if bitcoin goes to zero
2) you won't feel pain if bitcoin goes to 100k
No ragrats.
To be honest with you, it's valuable mostly due to speculation and scams. Mining is extremely energy and hardware intensive so there is some value behind it. But no one can tell you why BTC is $9.3k right now. It's not like everyone buying it is buying it to circumvent traditional banking. They're buying it in hopes they'll get rich and dump their bags on a greater fool.
in this way it's not inherently different from stocks, but it's way more manipulated than stocks.
I've just created a Coinbase account now. All these graphs and stuff look way out of my league. I understand basic economics but I have no idea why these prices go up and down out of nowhere (Something something bubble bursting).
When my account is verified I'm going to invest £10 and see where I go from there. £10 is enough to learn the fundemental basics I think.
What do you think, Zig Forums?
(Also sending money between wallets risks it being lost????)
I don't know what the Coinbase fees are like in your country. I think it's $1 minimum here so if you only put in $10 you immediately lose 10%. Just be careful man
sounds good. I think you'll get better entries at 8000, 7500, possibly $7000 but maybe you can blow your load if it dips lower than that. I bought a lot in March but still have more to spend now.
shitcoins can give you insane gains, but also insane loses. up 1000%, down 99%. that's no joke. but always remember: bitcoin is king.
Coinbase is verifying my account now. Could take a few days. I'll let you all know how the memecoin trade is going with a new threat.
Until then, is there anything important I should know? Will transferring funds from coinbase to a seperate wallet be neccesary for anything? is sending it to people over the internet dangerous? What if someone finds my 'wallet code'?
So fucking confusing I can see why most normies that speak about memecoins never delve into them.
>What if someone finds my 'wallet code'?
that's why people airgap or at least have some semblance of protection on their pc, or use usb wallets. but you'll figure it out.
when you have an amount t hat will hurt to lose then yes you have to figure out the best way to safeguard it and it is up to you whether you go with your own wallet or custodial. most here spout the not your keys meme and it was important in the past because of scammy exchanges and hacks.
You have no idea what you're talking about, stop posting
Avoid all the scammy exchanges and hacks with Stakenet's lightning wallet. Thing is a dream. Link your API keys, get the liquidity of your exchanges but never forfeit your bags to them! 2020 is a good year for something at least!
just view Bitcoin as a method to diversify. you can put money in stocks, bonds, gold, real estate - and now bitcoin. the time for getting rich is over. whatever you have in stocks and bonds, put like 5-10% into bitcoin.
get the btc into a paper wallet and hide that shit in a book on your bookshelf, in your safety deposit box, and two other places, preferably with a simple cypher that you wont forget.
Does this mean buying/selling on coinbase or blockchain runs the risk of my wallet being stolen? Or does this o ly apply to buying/selling to strangers on the internet?
It's very intriguing for a wageslave gotta admit.
By paper wallet, do you mean transfer bitcoin into a wallet only accessible by scanning a QR code printed onto a piece (or multiple pieces) of paper?
Say now I had about 500 quid worth of btc stored on paper wallets, how would I cash out or transfer it when I wanted too? Will it just get lost on it's way to coinbase etc? How does this even happen. It's a bit worrying to think about -- e-wallets stolen just like that?
explain how I'm wrong