Re: Steep rises in Crypto.
What broker do you recommend that doesn't have a ?500/?1k minimum investment? Got around ?400 I'm happy to throw in and see any long term gains.
Been following a thread on AVF for SSX & SQZ granted not Crypto.
Re: Steep rises in Crypto.
Broker? You just do it yourself by DYOR (social media, word of mouth, youtube to learn how to read charts etc). Then either buy your crypto from Coinbase or Localbitcoins, get it into an exchange (Bitrex, Binance, Kraken etc) and have a play with small amounts first.
Piggzy recommended a good FB group, Crypto Traders, although now they seem to be minimising the recommendations as they now have a private chat room and are setting up a fee based course and website.
I started spreading across alts and although i was making gains it was minimal, it seems the way to go is to go balls deep on a coin - a mate bought 13800 XRP at .20 which is now at $2. He's still hodling and hoping it reaches $5!!
Re: Steep rises in Crypto.
What he said.
If you mean exchange instead of broker, you can use any amount you want minimum is about ?10.
I now use Binance although they don't have all the coins I would like but have what most people would be interested in.
I agree @ivrytwr3 that the group is now going quiet on advice and going paid private, still a few good tips , good while it lasted hey ho.
Re: Steep rises in Crypto.
Have a look at covesting.io. Personally missed the ICO so not actually got anything invested in them but can see the benefits of piggy-backing on the more educated/experienced bods.
Also seen a guy representing a company who want $3k a year to join their club and get trading calls. HUGE gains overall but I just can't see myself parting with that kind of money directly to someone, even though I've spent that much, and more on my own crypto journey.
More and more of my trades are on Binance. Great exchange but has had a few problems coping with the volumes of trades recently.
Re: Steep rises in Crypto.
The number of exchanges is bugging me atm, there are various alts where you can see the scope for quick in and out gains but this one is only listed on X & Y, this is only on Z etc etc. Yes you can go through the registration hassle and transfer bitcoin over to trade but that takes time and costs fees :(
Re: Steep rises in Crypto.
I have created a coinbase account but haven't bought anything yet
Can anyone explain the easiest way to buy efficiently?
Coinbase seems to charge 1.49% for buying, is that right?
How would you guys buy into BTC?
Re: Steep rises in Crypto.
It depends on which you want to buy, I opened a bank account with Fidor then transferred euros from there to Kraken and bought BTC, XRP etc.
Kraken doesn't list a lot of alts though so you might need to sign up at others such as poloniex, binance
Re: Steep rises in Crypto.
Yes as hoponbaby said kraken is one good option.
You could also use a bitcoin buying service like bitbargain.co.uk if you are using an exchange that doesnt let you buy fiat and then transfer it there. You lose about $10-15 flat amount doing it that way.
TBH there is no "great" way to buy bitcoin without losing an unacceptable amount, just the way it is for now.
Re: Steep rises in Crypto.
I also went down the Fidor route, initially to buy thru' Kraken but the following method should minimise fees. There are easier ways than bank transfers but fees can be stupid for buying with debit cards etc.
Open a Fidor account
From your UK bank -> transfer GBP to Fidor account
Fidor International SEPA transfer in EUR to Coinbase at cost of ?2.49
Open a GDAX.com account, who a linked/same as Coinbase.
Once in GDAX, transfer EUR from Coinbase. This is free between CB and GDAX accounts.
Once EUR arrives, buy your coin of choice using the appropriate trading pair.
If you want to get into trading for other coins then you will also need an exchange account that has much more available than GDAX/CB. I recommend Binance.com but there are others. If you do want to sign up, Please PM me and I'll sent over my referral link. Costs you nowt but I get a small bonus and then you can start referring others.
At the moment, I would recommend buying ETH or LTC as transfer times are faster with these 2 coins than BTC.
From GDAX accounts summary, withdraw your recently bought crypto to the exchange of choice. Transfers from GDAX are free. You need to have your exchange deposit address ready for this.
Once in your exchange account you can start trading. All exchanges take a % fee from the buys and sells and THEN ALSO WHEN YOU WITHDRAW BACK FROM THE EXCHANGE to CB/GDAX.
Again, if you want to withdraw crypto back to ? there's charges there too.
At most, if not all levels, you will need to verify your identity as part of anti-money laundering legislation dictates.
Re: Steep rises in Crypto.
Quote:
Originally Posted by
chizh
At most, if not all levels, you will need to verify your identity as part of anti-money laundering legislation dictates.
Most exchanges need ID only at amounts above a certain level. eg No ID needed at binance but limited to only withdraw 2 BTC per day. (30k per day wtf)
Some like Coinbase require ID fullstop.
hitBTC no ID needed but have lost trust in them.
Binance are getting a lot better, at first very few coins imho but a new coin seems to appear every wee atm.
As chizh says trading fees on all exchanges. Find a margin trading exchange such as binance with fees between 0.05 - 0.1 %. You dont even notice fees that low tbh.
Re: Steep rises in Crypto.
Yeah. The beauty of Binance is that they have their own coin and if you have any then the trading fees are halved. Rather than a 0.1% cut of the trade itself its 0.05% paid with BNB so you get the full price when trading.
Just wish I'd bough more of them when I started using the exchange. Only bought to fund the fees but that particular coin is now 4x what I paid back in Sept.
Can be said for most coins at the moment though - can't keep up and can't stop playing the game.
Re: Steep rises in Crypto.
Re: Steep rises in Crypto.
No real difference to each Xmas 'toy of the year' announcement. Create the need and fear takes over. Great marketing IMO.
Manipulation of price by whales/institutional money followed by FOMO created by the media. A very familiar situation in crypto-world.
Re: Steep rises in Crypto.
This is one of my main concerns with crypto, if the price can be dropped like this and there are no fundamentals to base value on other than perceived value therefore demand. We all know the institutions won't want to be out of control and with the money and power they have to sway public opinion by negative media I can see a lot of money being lost. Not had the time to research or been brave enough to make an investment, shame the FB group is going paid as I had joined with the intention of investing a small amount and seeing how it went.
Kodak announced a crypto of their own today and shares rocketed, can't help but feel a lot of this is a bubble with plenty of other companies having seen share price jumps by just changing their name or mission statement to include some buzz words! Really happy for those of you making money on these but please don't over leverage yourself, I may be completely wrong but I just can't see traditional markets allowing crypto alts to take their money quietly.
Re: Steep rises in Crypto.
Totally agree, Worldcoinindex currently show the crypto market cap as being 590 billion euros - and that's after the massive falls over last couple of weeks yet it's based on nothing, no regulation, nothing to back it up etc. Ok countries print their own currencies which could be worthless but at least there is in theory a bit more chance of it having a future value. People seem to have forgotten about the dot com boom where share prices were flying through the roof based on nothing but even they had a degree of regulation and weren't being pump & dumped quite so badly as crypto - todays high flier Vibe which has gone from e0.29 to e3.17!?! tomorrow it will be down by.......?
I'm only pissing about with a bit of play money and sold enough Ripple to cover my full investment so if the lot now turns to dust I'm not actually out of pocket apart from what I could have sold for. There is the scope to gamble some and just look at the daily trends, get in and out with a quick 50% gain for example. I've got more chance of picking a winner than my usual choice of 3 legged future burger at Cheltenham!!
Re: Steep rises in Crypto.
Quote:
Originally Posted by
hoponbaby
... todays high flier Vibe which has gone from e0.29 to e3.17!?! tomorrow it will be down by.......?
?100 in and ?1100 out? Not many other ways you can gain best part of a grand in a day, - IF you can time it right. And that's what many people are seeing - the gains - and most are blinkered by them and don't care about the losses. Lots of copy-trading in order to make a fast buck.
There's going to be some really bad press soon regarding people getting burned by shilled coins, FOMO and ultimately them not paying due diligence. Bitcoin / market will also go up soon and the media cycle will turn again and again.
Re: Steep rises in Crypto.
If anybody is wondering what is going on with the sudden drops this week well here is your answer.
South Korea is moving to ban Crypto Trading through the courts and Tax Authorities have been raiding Crypto exchanges the last few days obtaining everybody's details. This has caused a major sell off over people panicking in South Korea and elsewhere because of wondering what the F is going on with the prices.
It is believed SK stand for upto 20% of the Market. News seems to say it should be a short term things as worse case scenario the will close the exchanges in SK but the SK citizens will just move to use overseas exchanges etc
As a result Coinbase already removed SK info from their site .
HODL
The coins I am watching are already recovering tbh.
Just a blip imho and wont be the last.
It all adds to the fun pmsl :-)
Re: Steep rises in Crypto.
... and also for those who use coinmarketcap as a reference, I saw somewhere that they had removed - without major announcement - the Korean market values when averaging the coin prices in their lists. It would appear that SK are/were paying a premium for coins. In some cases double-digit % more than other exchanges. Once SK values were taken off the average, the whole market looked like it dropped like a stone when in fact it really only took out the inflated valuation.
