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new to trading

Discussion in 'CryptoCurrency' started by marcus.watts, Mar 30, 2017.

  1. marcus.watts

    marcus.watts Junior Member

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    Wow, so I am back on BHW after a LONG time. Not sure how long, I guess I'll find out after I publish this post.

    So a friend of mine made a BOMB with dash in past month and that got me interested into crypto currency trading. However, I have never had a bitcoin wallet and any kind of virtual money. However, I do have basic knowledge of stock market trading and how stuff works.

    I am hoping to get any tips I can from more experienced trader to figure out the best way to go about it. Anything that can help a newbie.

    Update- Haha yeah, Its been about 3 years since I was on BHW for the last time. Crazy.
     
  2. Hexiuss

    Hexiuss Junior Member

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    I know you've heard this before: google ftw.

    1. First and foremost go to blockchain dot info and get a wallet.
    2. Find a way to exchange fiat for bitcoin(google ftw since this varies by country)
    Also checkout coinigy yt channel, and use #altcoin #trading #btc type search operators on twitter. Sort by latest tweets so you have some experienced active traders to follow. Also forget about fundemental analysis so much manipulation in crypto space with pump groups and the like.

    My 2 cents best of luck.
     
  3. marcus.watts

    marcus.watts Junior Member

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    Thanks for that.

    I have one more question. I was suggested to use localbitcoins[dot]com to buy a couple of bitcoins to get started. My confusion is, lets say I bought from them (which then would be added to my wallet in localbitcoins). I transfer them to poloniex and may be turn them into 2.5 BTC and send them back to my localbitcoins wallet. From there, how do I withdraw them?

    Sorry if that was confusing.


     
  4. Hexiuss

    Hexiuss Junior Member

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    "..send them back to my localbitcoins wallet. From there, how do I withdraw them?"

    List them for sale on the website and someone will buy them from you the same way you bought them. Or if you want a more instant solution look to centralized exchanges that deal with the banking system i.e. coinbase(US) has a feature called a "shift" card that allows you to withdraw btc as cash from any ATM for a fee of course.