I feel like I finally joined the real Cryptocurrency World! Training wheels are off!
So I'm finally figuring out how to buy and sell cryptocurrency off Steemit and using an exchange. I feel like I'm finally graduated and took my training wheels off! Now hopefully I don't bust my head in and only scrape my knee's a little. (Hope it didn't go too far with the bike riding analogy.)
I have bought BTC with CAD already so that was my first big step, that was a while ago thanks to the help of @thedamus. I was able to turn that into steem using @blocktrades and it was super simple, but I was overwhelmed with trying any of the other exchanges. It just seams so complicated. After the sale cleared it was super simple to just once again send from Bittrex to my wallet.
Well www.phelimint.com is now accepting STEEM/SBD for payment for our silver rounds (Check out this post HERE) so it was time to finally figure out how to sell the STEEM off site. (I'm still committed to powering up personally, but we need to cash out the store money)
So yesterday I finally opened a Bittrex Account, which was super easy by the way. It took like 5 seconds, then another 10 minutes to go through the enhanced verification process. Which took maybe 2 hours to get approved, even in the middle of the night. I'm impressed! After that send steem to bittrex was as simple as sending steem to a bid-bot or any other user.
After that was selling the STEEM for BTC. That screened looked a little overwhelming but in fact it's similar to the internal market screen on steemit. I really feel like steemit has become a training and proving ground for the world of cryptocurrencies. It really made me comfortable with the process and excited to explore more.
Honestly guys it super simple, I wish I didn't wait so long to give it a try
Next step I have opened a Etherwallet and made an account on Binance. Now it's time to really get serious!
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My first big mistake was trying to buy everything. Find one or two coins besides Steem and BTC you like and focus trading those and try tuning out the FOMO that is every where. That's been my first big bike crash and still feeling the effects of it.
Thanks, sounds like great advice man. There's certainly so many and I don't have alot of money to devote to it and I still want to keep investing in steem as well. I still believe it's got some big gains ahead.
Congrats. Still learning this stuff myself
Yeah, it all seams to intimidating, but in the end it's not too bad really.
Yeah I had a lot of issues transferring things around
I mostly use OpenLedger. I have started a post on how to transfer SBD to OpenLedger when I first learned how to do it. I should complete it because I think a lot of people have similar difficulties that I had.
Darryl (@dadview) resides in Canada. He is an active member of steemparents and teamcanada
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Yeah, definitely! I don't think I'm there yet to right any step by step guide or advice, but it's not hard, I just want to get that out there.
Welcome aboard the crypto train buddy 👍
Thanks, certainly exciting times.
Look at you, all grown up now. It gives the rest of us small fries a glimmer of hope that we can do this too.
You can do it! It was pretty straight forward actually.
Welcome welcome :D
Thank you, thank you! Looking forward to this new adventure.
Good luck man. Hope you make a mint in your endeavors brother. 👍
We'll see, not sure I have enough to invest to make a mint, but you never know.
Wont it be profitable to convert crypto into some currency with lower market capacity????????? bitcoins are making so mucg progress right now all for what coz it has only 21 million market cap max... if u invest into something into even lower market cap then today or tomorrow u can make way more money...plus bitcoin mining is becomng so expensive now that unfortunately people will lose interest i think investing into btc wont be the best option u hv right nw
Of course, that's the next step! Hence the Binace account, time to start speculating.
cool i still have a lot too learn
kinda starting myself. super informative.
following :)
good one... yeah i've used coinbase and blocktrades...
Yeah, that's where I started too! Time for the next steps.