Want to start trading cryptocurrency but how?

[guzzi850m2]

Hi,

 

I want to start trading in this crazy system, just perhaps invest something like 1000$ and perhaps buy 5-10 different currencies and see how that goes, leave them for 2-3 years and see how much they are worth by then.

 

I will assume I will have to buy a wallet and was thinking about getting as below:

Ledger Nano S Cryptocurrency Hardware Wallet.  

Can any currency sit in above wallet?

I am still not sure where I buy cryptopcurrency and sell them back into real physical money quickly if I want? 

This is money I can easily afford to loose so why not give it a go.

 

 

Thanks for inputs

 

 

 

[PattayaAngel]

Bx.in.th 

 

Professionals many of us use - first step hop through the hoops to sign up (unless you are American)

[davidst01]

look on the ledger nano website for list of coins that can be stored. 

 

My recommendations are 

ripple

bitcoin cash

Neo 

tron

icon

[guzzi850m2]

Thanks guys.

 

Bx.in.th looks interesting (I am not American), I might start there.

As I can understand from their web page, coins bought there are not allowed to be sold elsewhere?

I find that a bit odd, I thought one of the ideas about this system is that you can be a WW citizen and sell coins from you wallet from anywhere you are but I guess they desperately tries to keep some kind of control over this system ( not only Thailand).   

[davidst01]

3 hours ago, guzzi850m2 said:

Thanks guys.

 

Bx.in.th looks interesting (I am not American), I might start there.

As I can understand from their web page, coins bought there are not allowed to be sold elsewhere?

I find that a bit odd, I thought one of the ideas about this system is that you can be a WW citizen and sell coins from you wallet from anywhere you are but I guess they desperately tries to keep some kind of control over this system ( not only Thailand).   

i think you are confused. 

 

Once you buy ANY coin on bx exchange you can send it immediately to any of your wallets or ANY other exchange (KUcoin or binance) and sell it or do what you want. 

 

I think you should look at a few beginners youtube videos. 

[cookai]

22 hours ago, davidst01 said:

look on the ledger nano website for list of coins that can be stored. 

 

My recommendations are 

ripple

bitcoin cash

Neo 

tron

icon

Wow,  those are some poor recommendations.   Don't care what you support as long as it's got a good return, eh?

 

ripple is not for you, for banks

Neo is regulated by the Chinese

Tron has a made up whitepaper

Icon   no idea, too new

 

 

 

 

[brfsa2]

If you plan to buy more than 1 month worth of salary, get a hardware ledger, it's the safest and smartest way.

 

Hardware wallets have the private key embedded on the chip and are not able to be extracted or stolen by virus and malwares. It's also no affected by recent Spectre and Meldown bugs on every single computer and mobile device.

 

Hardware wallets also support Plausible deniability, you can have up to many wallets, if someone puts a gun in your head, you just unlock a wallet with small coins, leave the big wallet hidden,.

 

Good coins that can be traded in BX with THB pair:

 

Ethereum : the base foundation for most tokens) This will be universal coin, best for long term holding, 1+ years

Zcoin : very cheap now and has a great potential, completely anonymous.

Dash: Very nice coin with good support and nice wallet apps.

Litecoin: Fast coin alternative to Bitcoin, cheap now.

 

Good Tokens:

 

OmiseGo (OMG) Thai company, first in TH and one of the most successful ICOs. Holding very strong lately. can be traded in BX with THB pair.

ICON, a very promising token

Everex, can be traded in BX with THB

GoNetwork: ICO coming soon, very promising too.

 

For more tokens check out Twitter: @top7ico  https://twitter.com/top7ico

 

Edit: This just my personal advice, do your own research before buying. Be prepared to loose money.

there will be big dips in price and dont panic to sell, just "hodl"

 

Edited January 15, 2018 by brfsa2

[brfsa2]

and if you get into crypt, welcome to the roller coaster!!!

Edited January 15, 2018 by brfsa2

[brfsa2]

1 hour ago, cookai said:

Wow,  those are some poor recommendations.   Don't care what you support as long as it's got a good return, eh?

 

ripple is not for you, for banks

Neo is regulated by the Chinese

Tron has a made up whitepaper

Icon   no idea, too new

 

 

 

 

Ripple is not decentralized. it only went very high 1500% because south Koreans have invested so much in it. if you look at https://coinmarketcap.com/currencies/ripple/#markets

75% of the volume comes from korean exchanges.

it's only good if you bought it at 7 THB 

I would not recommend it now at 90 baht in BX.

 

Btw, BX.in.th prices are usually 10% higher than European or Japanese exchanges.

 

Edited January 15, 2018 by brfsa2

[OmegaRacer]

I started 1 month ago on BX, increasing my initial investment a few times. Now still about 50k Baht profit, even after the big dip of XRP.
Be careful though, it can be quite addictive, you'll find yourself checking the graphs every hour.
It's all new for me as I've never done anything like this before, but it's fun and seems very promising for the long run. 

I also have the Ledger Nano S. Was a bit of a pain to set up, but eventually got it working.

[guzzi850m2]

I just ordered a Ledger Nano.

 

Had to order one from Amazon as the original retailer are sold out of them until end March.

[XJPSX]

I use etoro and have had no problems taking money out after profits. Has good charts and notifications. Takes a little while to set up but it is a solid platform / business. 

Has been very good for me!

[sawadee1947]

a bit late to waste money I think

[britishrepublican]

You've a lot to learn. First if all, simply buying a few coins is not trading, it's investing. Trading is when you actually trade things. 

[OmegaRacer]

21 minutes ago, sawadee1947 said:

a bit late to waste money I think

Not at all, this is just the beginning for crypto currency. It's late for bitcoin perhaps, but there's so much more out there right now.

[cbuddha]

Where is the best place to buy Neo? A lot of people recommended Binance, but they seem to be closed to new registrations.

[sawadee1947]

17 minutes ago, OmegaRacer said:

Not at all, this is just the beginning for crypto currency. It's late for bitcoin perhaps, but there's so much more out there right now.

you're talking about "Ripple"?

[OmegaRacer]

Not only Ripple (or XRP), ETH and OMG served me well too, and I believe there's more to come.
This is a market with uncharted territory so anything can (and does) happen. Rumours can affect a trend enormously, a tweet by an influential person can make or brake a coin (McAffee for example).
It's high risk, there's no denying it.

[CG1 Blue]

30 minutes ago, OmegaRacer said:

Rumours can affect a trend enormously, a tweet by an influential person can make or brake a coin (McAffee for example).
It's high risk, there's no denying it.

So the influential person buys some coins, puts out a tweet saying how great those coins are, price goes up, he makes a killing.

Crypto currencies are simply fuelled by FOMO (fear of missing out).

 

Like others have said, join in the game if you want to, but don't invest more than you can afford to lose.

 

[Golden Triangle]

So, I want to invest 1000 GBP in one of the Crypto currencies, either XRP or ETH or split between the 2, I could do with someone with experience sitting next to me while I do this, I don't trust my understanding of the whole setup procedure to do it in one fell swoop what with e wallets etc, I just wanna buy and hold for a year or 2.

 

 

30 years ago I didn't have a pot to piss in, these days I have recovered the pot and found it to be full, so I would like to have a dabble, 1000 quid these days is beer money, anyone in patts want to assist me 

Edited January 15, 2018 by Golden Triangle

[OmegaRacer]

35 minutes ago, CG1 Blue said:

So the influential person buys some coins, puts out a tweet saying how great those coins are, price goes up, he makes a killing.

Crypto currencies are simply fuelled by FOMO (fear of missing out).

 

Like others have said, join in the game if you want to, but don't invest more than you can afford to lose.

 

That's correct. In the case of McAffee, it seems he took a lot of money to tweet about his "coin of the day" and promote it. He did so with Verge too, but when they failed to pay his "fee" he put out another tweet saying he was wrong about that coin. The value went up and down based on his support or lack thereof.
FOMO is a part of it for sure, but not only. Some people like to trade, others to invest long term, others invest in a particular coin because it promises to be an alternative to the established banking system, many invest in XRP because it's backed by banks and big businesses are starting to adopt the Ripple system.
There are a lot of newbies in this game (including myself) and many hope to bet on the new bitcoin and get insanely rich in a short time. I invested some money I'm comfortable with losing if necessary. 

But if you want to buy XRP, NOW is the time! ;-)

[OmegaRacer]

12 minutes ago, Golden Triangle said:

So, I want to invest 1000 GBP in one of the Crypto currencies, either XRP or ETH or split between the 2, I could do with someone with experience sitting next to me while I do this, I don't trust my understanding of the whole setup procedure to do it in one fell swoop what with e wallets etc, I just wanna buy and hold for a year or 2.

I would help you, but my experience is very limited....only been doing it for 1 month.

[CG1 Blue]

14 minutes ago, OmegaRacer said:

But if you want to buy XRP, NOW is the time! ;-)

Like it

[PerkinsCuthbert]

https://www.theguardian.com/technology/2018/jan/15/should-i-invest-bitcoin-dont-mr-money-moustache

 

And if you think this time it's different - it isn't.

Edited January 15, 2018 by PerkinsCuthbert

[Shaunduhpostman]

To me, crypto seems to have something to offer. As an investor or trader, I can buy and sell directly on the exchanges instead of having to rely on a broker. Coins like Ethereum not only are for holding and investing but they can be used to build applications and work towards a peer to peer network that will be freeer of govt meddling, hacking etc. I think the basic premise is a good and much needed one: get the treasuries and the banks off of our backs. That is still  a long way off, as is much in crypto, its really all in its infancy.

 

Cardano is a good coin to look into. Launched just a few months ago and has seriously large team of researchers and developers working full time on making it a coin that does what Ethereum can do, support all kinds of applications, but do it better and faster. The CEO was one of the founding members of the Ethereum team and he has a lot of good ideas and the 5th largest market cap of all coins to back it up.

 

The website Coinmarket Cap is a good one for researching what to invest in. They have most if not all coins listed with links an charts for each coin.

Edited January 15, 2018 by Shaunduhpostman

[CG1 Blue]

23 minutes ago, Shaunduhpostman said:

Cardano is a good coin to look into. Launched just a few months ago and has seriously large team of researchers and developers working full time on making it a coin that does what Ethereum can do, support all kinds of applications, but do it better and faster.

Isn't this one of the problems though? As technology advances, each coin will potentially be bettered by the next one, making the previous 'hot' coin almost obsolete.

Also, who protects your crypto coins against cyber attacks? If somebody hacked a bank system and stole money from accounts, the customer would be reimbursed.

[phycokiller]

4 hours ago, CG1 Blue said:

Isn't this one of the problems though? As technology advances, each coin will potentially be bettered by the next one, making the previous 'hot' coin almost obsolete.

Also, who protects your crypto coins against cyber attacks? If somebody hacked a bank system and stole money from accounts, the customer would be reimbursed.

coins can be changed and updated.

[XBroker]

Crypto is the one world currency the NWO needs to roll out their agenda. If you have children, you'll be selling them out for short term gain. This is NOT a conspiracy theory.

[cookai]

14 hours ago, CG1 Blue said:

Isn't this one of the problems though? As technology advances, each coin will potentially be bettered by the next one, making the previous 'hot' coin almost obsolete.

This is a good point, but just remember it doesn't mean the old ones go away.  May of these ideas will need to reach escape velocity to really be sustainable long term, so you do want to pick ideas that look to be built for the future..  Bitcoin was a big idea.  Ethereum was the next big idea.  What's next?

[Acemaker]

21 hours ago, OmegaRacer said:

Not at all, this is just the beginning for crypto currency. It's late for bitcoin perhaps, but there's so much more out there right now.

Yes, like XPRO12 , this is going to be hot, now at only 5 Euros, will enter a major exchange on 15th Feb, register for Free here :  coinfrenzy dot Net