T3 country Cryptonoob tard questions

[Zakch93]

Before I pull the plug on my savings and give it a go, because I want to see the Moon too, some basic questions on how to get started to see if I have this straight:

1) Buy Bitcoin from localbitcoins, transfer BTC to Binance/platform of choice, and exchange BTC for coin of choice?
2) Any fees for changing your BTC to other coins?
3) To cash out/sell altcoin I bought, turn it back to BTC and go to localbitcoins to exchange for cash?

And so I'm basically worried about the various fees as I don't know what they are. Let's say doing all these steps with $100, turn it into $500, how much fees

Another question. I understand investing in x100 gem scamcoins can be risky as they can drop to 0, thus losing you all your money invested, so

4) Buying the known mainstream coins, in case price drops, can I HODL as long as I can until price rises again, thus guaranteeing profit?

Thx

 

[Nikolaos]

Basically everything you said is correct.They should be phrased as statements not questions.

 

[onlinemarketer12]

For first question why not buy directly on your exchange.

 

[Zakch93]

For first question why not buy directly on your exchange.

What do you mean my exchange, I heard localbitcoins is good