How do I go about investing in crypto?
- Thread starter Sheriff13
- Start date
Sheriff13
Newbie
- Apr 5, 2021
- 29
- 8
Through a broker? and is it kinda the same as trading? can you use stop loss?
- Mar 22, 2013
- 9,150
- 10,490
Get a wallet. Put crypto on wallet. Wait.
BlueSnow
Regular Member
- Feb 5, 2014
- 360
- 224
Here is the playlist for you https://www.youtube.com/playlist?list=PL6eYbgXEVeTpheDd-2OECLIQBsI8iJqMD
This guy is in crypto for a very long time and adviser for many projects.
Sheriff13
Newbie
- Apr 5, 2021
- 29
- 8
Perfect thank you!
Aziel
Newbie
- Apr 6, 2021
- 3
- 6
It depends on you country, but after trying every exchange there is I prefer two options:
1. Binance
2. A DEX
Why Binance? Because of the casual low fees, easy access to lots of options such as launchpad, launchpool, etc.
Why a DEX? Because I prefer decentralization.
When it comes to DEXes, you can use 1Inch as your aggregator of choice (this way you don't have to pick a certain DEX).
As for the blockchain, you can use either Ethereum or Binance Smart Chain (1Inch being on both).
Both have pros and cons, Ethereum is always clogged up and the fees are through the roof (e.g. $40 per contract interaction at times) while Binance Smart Chain is not as decentralized but the fees per contract interaction are ~$0.4.
Remember that DEXes usually take ~0.2% tax per trade which is given to liquidity providers & treasury.
1. Binance
2. A DEX
Why Binance? Because of the casual low fees, easy access to lots of options such as launchpad, launchpool, etc.
Why a DEX? Because I prefer decentralization.
When it comes to DEXes, you can use 1Inch as your aggregator of choice (this way you don't have to pick a certain DEX).
As for the blockchain, you can use either Ethereum or Binance Smart Chain (1Inch being on both).
Both have pros and cons, Ethereum is always clogged up and the fees are through the roof (e.g. $40 per contract interaction at times) while Binance Smart Chain is not as decentralized but the fees per contract interaction are ~$0.4.
Remember that DEXes usually take ~0.2% tax per trade which is given to liquidity providers & treasury.
Sheriff13
Newbie
- Apr 5, 2021
- 29
- 8
Thanks for your advice I will do my research into all this before investing.
- Mar 21, 2013
- 24,784
- 31,557
1) Join a crypto exchange
2) Send them your dollars
3) Trade real dollars for imaginary money
4) Pretend like you own $ 5 billion dollars while you trade imaginary money
5) Never see your dollars again
2) Send them your dollars
3) Trade real dollars for imaginary money
4) Pretend like you own $ 5 billion dollars while you trade imaginary money
5) Never see your dollars again
Brickbat1
Elite Member
- Mar 22, 2010
- 2,366
- 1,391
Binance is good for very low fees. Can buy say XLM and pay cents as fees and then convert it to bitcoin almost for free. better than buying Bitcoin directly at crazy fees. After buying ,then wait. You can also easily take advantage of trends in other crypto by using their internal "convert" function to move assets from one crypto to another.
nnierynn14
Newbie
- Oct 16, 2013
- 10
- 3
For me binance is the number one website in terms of very low fees. You need to create your account on coin base to buy coins or even in blockchain then transfer it to binance website but you need to learn how to trade just be careful on some gurus and scammers out there asking money to trade it for you. There are so many youtube tutorial on how can you trade properly and always remember do not put all the eggs on one basket invest what you can only afford to lose
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JessonM
Regular Member
- Mar 2, 2019
- 231
- 99
- Mar 21, 2013
- 24,784
- 31,557
I just bought a land with imaginary money.
Now scale it up and double your imaginary land
provocative
Supreme Member
- Jan 24, 2020
- 1,283
- 654
Binance is great and the best platform to start in my opinion. I think, open an account but deposit only a little amount to get used to if first. After the trial period, you can go the numbers you want.
If you want to buy for long-term saving purposes and if it's major coins like Bitcoin, Ethereum etc. just open a wallet (my favorite is Trustwallet) or buy a hardware wallet like Ledger. Buy anywhere you want and transfer it to your wallet.
If you want to buy for long-term saving purposes and if it's major coins like Bitcoin, Ethereum etc. just open a wallet (my favorite is Trustwallet) or buy a hardware wallet like Ledger. Buy anywhere you want and transfer it to your wallet.