Cryptocurrency Trading Help Bug. Noob Friendly

[buggy032]

Well Crypto Trading has been a hot topic for my fellow BlackHatWorlians, Ive been into Alt trading a few years now and ive had my ups and downs along the way. I see alot of members trying to get started and asking Alot of questions that are going unanswered in other threads. I thought to myself that this could be my way of giving back to this lovely community and its members. I encourage all seeking knowledge on crypto trading to watch this thread and ask questions. ( please no vague questions)

I am no expert or guru or do I guarantee you will have success in trading its a endless learning process but never too late to start and work your way up. If you ask questions in this thread I can simply give you my 2 cents and answer questions to the best of my ability. Also encourage other experienced traders to help and not be on stand by when u know answer to a question

My first advice to you would be to research your question before asking use the mediums available to you such as google and youtube and past BHW posts. You would be surprise the things you can learn on your own with a little effort.

Only after you have tried the above method should you post in this thread for help.

Too many lazy wannabe millionaires I have no time for your kind.

This thread is for members who are willing to put in effort and willing to read/research before asking silly/obvious question some members are just looking for a free pass. Which is ultimately responsible for their under achievements.

Next Advice is to start investing small get a hang of losing/winning check your ratio. see how u do at first because you will soon understand that crypto trading is a never ending learning process.

Feel free to introduce yourself and good luck BHW Crypto Traders!

FAQ

1) Where can I buy bitcoins.

Local bitcoin
gemini
buysomebitcoin
coinbase
Paxful

2) How Do I know when coin will go up or down?

Not easy but do-able check out these websites for guidance compare exchange rates etc:

worldcoinindex
cryptowat . ch

Read news on coins via social media outlets and respective coin websites.



3) What exchanges to trade on?

I do not recommend any over the other but you have options like

Bittrex
Cex . io
Kraken
Poloniex

Get familiar by watching tutorial videos (if your noob).

Happy trading friends lets make money $_$

 

[Tman91]

I love trading crypto. I've turned $155 into $2,500 in the past 3 months. My advice to newcomers is to watch exchanges for a few days before you start to invest. Get an idea of the price ranges of any coins you are considering so that you know if you are investing when it's low.

 

[bartosimpsonio]

I love trading crypto. I've turned $155 into $2,500 in the past 3 months. My advice to newcomers is to watch exchanges for a few days before you start to invest. Get an idea of the price ranges of any coins you are considering so that you know if you are investing when it's low.

Is your money still in cryptos or have you cashed out? If so, how did you cash it? Looking for information on how to cash BTC into actual money. Any tips appreciated.

 

[Servicesman]

Great share man

 

[umerjutt00]

Is your money still in cryptos or have you cashed out? If so, how did you cash it? Looking for information on how to cash BTC into actual money. Any tips appreciated.

One way is to use those bitcoin ATMs if there is one near you or in your country.. Another option will be to use a exchange where you can both buy and sell your bitcoins. You would usually get money in your bank account.

Another option is to get a bitcoin visa/mastercard. These cards usually charge a fee on every transaction but all you got to do is send your BTC to that card and then cash out at any ATM.

 

[Mrkoco]

Is your money still in cryptos or have you cashed out? If so, how did you cash it? Looking for information on how to cash BTC into actual money. Any tips appreciated.

Sell it on Local Bitcoins..... Easy peasy

 

[Tman91]

Is your money still in cryptos or have you cashed out? If so, how did you cash it? Looking for information on how to cash BTC into actual money. Any tips appreciated.

No my money is still in crypto. Technically I haven't earned any money until I cash out. I've never cashed out before but I know you can on some exchanges. They usually have a tiered verification process where you need to be at a certain tier to be able to deposit or withdraw fiat. You can check out poloniex or kraken about their verifcation process.

There's another way that is simpler, though. If you use Coinbase you can sell Bitcoin, Ethereum, or Litecoin. I've never tried it before though. I'm pretty sure they take a decent portion out from fees when you do it this way but it seems easier than verifying your account on an exchange

 

[techn1k]

My short advice:

If You're in the cryptos for the long term, don't keep them on exchanges and transfer them to a wallet. Better be safe than sorry.

Regards,
t.

 

[RightFootFanatic]

Has anyone experience with trading bots? That's something I'd like to pick up again, I had one at start of cex.io when they haden't fees.

 

[razorsharp]

How much time do you spend researching/investing in coins each day?

What would you say is a minimum amount of time investment required to flip a profit?

 

[Tman91]

How much time do you spend researching/investing in coins each day?

What would you say is a minimum amount of time investment required to flip a profit?

I would say periodically throughout the day I'm either checking the prices on exchanges or reading up on different coins. It's also good to research new ones coming out.

The great thing about crypto is that you can make a profit almost immediately with some coins. The exchanges run 24/7 and the prices are always fluctuating. Some days certain coins can go up 30% or more. You can make good money by investing on the right coins at the right time, but always remember not to invest more than you're willing to lose.

 

[TimelordHarry]

I love trading crypto. I've turned $155 into $2,500 in the past 3 months. My advice to newcomers is to watch exchanges for a few days before you start to invest. Get an idea of the price ranges of any coins you are considering so that you know if you are investing when it's low.

Hey, care to share your method. I have 2 BTC in my wallet. How do I go from there?

 

[buggy032]

How much time do you spend researching/investing in coins each day?

What would you say is a minimum amount of time investment required to flip a profit?

Well these days I'm full time in on the crypto trading action but I'd say atleast 3 hrs a day watching the coins of your interest before you invest is good average time.

Minimum amt time required to flip profit varies because this depends on how aggressive the market is at the time of entry. And also how much you have invested. Higher investment reaps higher profits but also the risk of losing BIG looms large. A wise trader would invest what he can afford to lose in the beginning.

Tip: watch market analyze trends up down up down, choose buy in figure for investment ( best to invest when coin drops value and will rise value again soon) never invest when coin is close 24hr high peak you will certainly lose money on investment 9-10 times trust your gut feeling.

To be safe stay within the 5-10% profit margin ratio. Don't be greedy know when to get out.

 

[Tman91]

Well first you need to sign up to an exchange and move the Bitcoin from your wallet to their wallet. Honestly though I'd recommend holding onto at least 1 of those. Start off with transferring just 0.1 over and get the hang of it first. You will make good trades and bad trades, but if you're new it's probably better to start off small to reduce the possibility of losses.

Before you start trading you probably want to research some of the coins on the exchange. Different coins have different purposes. Some are just a currency while others are a platform as well as a currency, like Ethereum. The amount of coins in circulation plays an impact on the price as well. Besides looking at each coin and judging their worth that way I like to read what other people say about them in forums. Usually you can get a good idea about how popular it is by what others are saying about it.

 

[buggy032]

Hey, care to share your method. I have 2 BTC in my wallet. How do I go from there?

There is only 1 method. Buy low, sell higher (at a profit) it's easier said than done. I recommend watching tutorial videos. tbh when I started crypto trading I spent more time researching coin data and what other experienced traders had to say about the current market situation than I did trading. You will come across good and useless data try to filter the garbage out

 

[Honoutenshi]

How can you buy bitcoin using Payoneer? thanks in advance

 

[bartosimpsonio]

To be safe stay within the 5-10% profit margin ratio. Don't be greedy know when to get out.

But I see some coins going up 80% some days on coinmarketcap. What's up with those? Wouldn't I be making 80% had I gone in at the right time?

Another option is to get a bitcoin visa/mastercard. These cards usually charge a fee on every transaction but all you got to do is send your BTC to that card and then cash out at any ATM.

Hey that's really interesting, you got any specific BTC to CC service you'd recommend?

 

[BOB JAMES]

if

Hey, care to share your method. I have 2 BTC in my wallet. How do I go from there?

you want you cn sell them to me for pp ...!

 

[buggy032]

But I see some coins going up 80% some days on coinmarketcap. What's up with those? Wouldn't I be making 80% had I gone in at the right time?

Yes you are correct. The 5-10% advice is specifically for noobs to trading. Because in beginning if you chase after 80% profit you'll probably end up losing 50%+ of your investment in few days.

 

[buggy032]

Hey that's really interesting, you got any specific BTC to CC service you'd recommend?[/QUOTE]

@bartosimpsonio Check out worldcore and qck prepaid debit cards please proceed with caution.