High level beginners guide to Crypto trading

in #crypto7 years ago (edited)

I am part of quite a few social media groups and these questions pop up time and again. whilst not an exhaustive guide, I've put this together to at least guide you in the right direction and filter out some of the noise.

I'll be going into all of these topics in more depth in the coming weeks, but I hope you can get a head start.

If you found this helpful, you can always make a BTC donation:

BTC: 1MFUtwnN3M8AGxifyCRaxZYunkJPVRosga

What is bitcoin?

Here is a good starting point:

How can I see price change for coins over the last few day/weeks/months?

Which coins should I invest in?

It goes without saying but always do your own research and make your own decisions.

Having said this various people sell "signals" and advice for a fee.
But for now the cheapest way to get started is to buy "the profit package" by Brandon Kelly:

Plenty more exist but I won't pump them, feel free to leave a comment.

What are ICO’s and where can I hear about them?

Why is the market behaving like this right now?

https://www.evernote.com/l/AALsNNsN-zpKPqRz9Gq6e3XzXs8rQjxadHgB/image.jpg

Where can I purchase bitcoin using a credit card?

This is not an exaustive list.

USA:

UK:

Brasil:

Pakistan:

Where can I purchase bitcoin using a cash?

Where can I buy Bitcoin with EURO/USD/GBP (wire transfer)?

Where can I trade my bitcoin for alt coins?

Where can I trade my ICO ERC20 tokens?

What are ERC20 tokens?

Where can I check my ETH/token balance?

How can I track the status of my coin transaction?

How can I learn about how to read charts?

What can I use to read charts?

Where can I store my coins?

What can I use to store my crypto offline/securely?

What do I do if I have a problem with a transaction to/from an exchange?

  1. Don’t panic

  2. Contact their support team, don’t expect an immediate response though.

  3. check the transaction on the blockchain (see above for blockchain explorers)

I always advise people to check, and double check the address you are sending to. Typically you just need to check the first and last 5 digits on an address.

Send a nominal amount first to make sure the address you are sending to is valid and works. When it successfully arrives, send the remainder.

I heard people get hacked all the time, how can I prevent this?

The best you can do is to slow them down and limit their chances of getting to you.

Always backup your private key or mnemonic phrase from your respective wallet. If you can't access the private key in some fashion, don't use the app at all.

Desktop:

Use Linux if possible, but most of you will be on Mac or Windows, so these links will cater for those users:

  1. Install good antivirus software:

  2. Use a VPN service:

  3. Install the following browser extensions for Chrome and Firefox.

  4. Store your private notes, records and passwords in a strong password manager:

Mobile (android):

Tips for trading on exchanges:

Bittrex is quite good in that it allows you to lockdown a fair bit of your settings. Where possible on all exchanges do the following:

What app can I use to trade on my mobile?

By far the best app out there is TabTrader. Don't forget to use a VPN when using the app, lock down the VPN IP address and don't allow withdrawals when setting up the API key.

What apps do you recommend I use to track my crypto portfolio?

Other handy mobile apps (android):

What about mining crypto?

You can have a go at cloud mining:

Or if you have deeper pockets you can try co-located mining:

Hopefully this info will set you on the right track!

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Wow,...excellent post @demwunz all info I need for crypto is there... Thanks for sharing

Nice article. What do u think ongcoin ico. It is making lot of noise these days.

I've been looking into ong coin for sometime now and I think it's one of the best ICO's out there. Already ong has working platform with real use for the ong coin and active community and dev team. Also they have been around for a while before even doing an ICO. Something very rare I would say...

OnG Coin is the best ICO out there right now

I couldn't agree more. If one considers the fact that most companys are just selling ideas on paper, then onG stands out among other ICOs since they have a ready-to-use product and a concept that is going to revolutionize social media. You can see the potential right in front of your eyes. This makes it the best ICO in 2017.

agreed man. onGcoin is the real thing. check out my video here where i think it's the best coin to invest in september

looks like you and your buddies are here to pump it. I'll avoid ong thanks.

Very decent and useful post about cryptocurrencies, I will try a few links. Thanks man.

no problem dude, glad you found something useful inside.

LFMAO!
Which phase we are now?

thank you for sharing this information. Anything helps for me trying to undertand cryptocurrencies.

This is very helpful. thanks for sharing. I also found this one. https://blockonomi.com/kucoin-review/ maybe you want to read it as well.