My Crypto Confusion / I'll stick with Coinbase
The Crypto Crazy World. After about 1 year of researching crypto currencies I finally have pulled the trigger. I set up an account on coinbase and purchased a few Litecoin. The difficulty now is that I'm trying to figure out how to buy and sell other Altcoins. I find the process a bit daunting when it comes to registration. After buying bitcoin in coinbase I'll then have to send it to another site just to sell my bitcoin so I can purchase an altcoin. If I want to cash in my altcoin I'll have to once again buy bitcoin and transfer that bitcoin back to coinbase in order to have the money sent to my bank account. Is there an easier process? Why doesn't coinbase accept other altcoins? They would make a bundle of money off of fees if they were to sell other altcoins. Maybe one day this will happen. In the mean time I'll just simply try and acquire Litecoin on Coinbase.
I've been happy so far with coinbase. Its pretty straight forward and user friendly. In the past I've been stuck "holding the bag" when it comes to Penny Stocks. I view Altcoins like Penny Stocks. I'm a little nervous seeing so much money go into these altcoins. If something dire happened to the crypto World it would be a serious blood bath. So, I'll play it safe and watch my Litecoin grow.
(image off of google imaging under the subject crypto confusion)
Good Luck to all of you out there trading altcoins. I hope you make a bundle of money. Just remember to be smart and take some money off of the table.
I recommend you sending Litecoin to a trusted exchange and variate your altcoin portfolio. You can try Poloniex or Bittrex for known altcoins and Cryptopia for new altcoins that you think have a potential to grow in the future. Welcome to the crypto adventure, wish you the best. :)
Thanks for the well wishes. I've been hearing a lot about Bittrex. I've actually tried to open up an account there but they are currently not taking new applications. They are in the process of upgrading. Once they do I'll have to give it a go. Thanks.
Coinbase would benefit greatly if the onboarded ShapeShift or could integrate Atomic Swap. But coinbase has a limited shelf life with the advent and propagation of decentralized exchanges.
And you are in a great space with Steem and Blocktrades.
I placed all of my steem in steem power. Its all a bit confusing. I've registered with a couple of exchanges where I could trade altcoins. I'm not quite sure what "blocktrades" are. Learning.
Go to your wallet in Steem or SBD and click on, sell, block trades will come up... I have used it and it is fast.
Yea trading alts can definitely be a little nerve-wracking.
Whenever I have to actually move cryptos to/from an exchange I always try and do it in Litecoin, especially when moving between exchanges or to/from coinbase. Bitcoin is just too slow and expensive right now to make it easy to do.
Thanks for the heads up. I"ll keep this info in mind.
The main way I've dabbled in alts lately has been with SBD, I transfer it to Bittrex and then sell it for Bitcoin and then put it in other alts. Not a lot and I've powered up most of my SBD, but it would be short-sighted to not diversify at least some of it.
This sounds like a fantastic idea. I'll start doing a 50/50 sbd steem. Transferring it to Bittrex sounds like what I will do. Thanks.
your every post very nice..i like bitcoin..thanks for sharing this post.
@crowe will you suggest me any good crypto because i am new in this digital curruncies