When you bought or invest in crypto !

in life •  4 months ago


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A lot of Questions Asked After Purchasing Crypto-Currency!!

As soon as you buy your first crypto, your mind is going to be flooded with numerous questions. I have received and answered several such questions asked by friends followers etc..

Now, I am looking to answer popular questions that asked by people who have just bought their first crypto.

What crypto can be invested in?

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Bitcoin may be the most popular and common form of Crypto-Currency circulating currently in the market. However, there are plenty of other forms of Crypto-Currency out there, commonly known as Altcoins, which you can also invest in. In fact, there are almost 1700 different types of coins being traded currently in the market.

While some of these coins hold great potential and may prove to be eventual winners in the industry, there are some that may not prove to be as lucky. Hence, it may make sense to make investments in coins like NEO or Ethereum, Litecoin, Stellar or Steem, and EOS, ... to name a few. There are several other such potential big players circulating the market now. With time, they may grow to be as exciting and profitable as Bitcoins. However, you must study the pros and cons of making investments in such Altcoins before actually investing real cash on them.

So, how do you buy these coins? Well, the answer is Exchanges! You can make money on gateways through exchanging one form of Crypto-Currency for another. While some gateways may only allow you to exchange between a few limited choices, there are others that will allows you to exchange between dozens. There are also some that allow you to buy hundreds of different options. With time, the number of exchanges with Crypto-Currency is gradually increasing, which sure offers plenty of hopes for investors.

If you ask for my recommendation, I would ask you to work with Binance. This exchange​ has an interface that is quite simple and easy to understand and use.

Moreover, the gateway also has the reputation of having never being involved in any hacking despite many attempts, something that not many gateways can boast of. At the same time, this exchange also works with a number of different Crypto-Currency options and has a fee structure that is not as expensive as most others. The standard fee of any trade is deemed as 0.1 percent of the total value and 0.05 percent for trading with coins offered by the exchange.

There are plenty of other exchanges such as Cryptopia, HitBTC and Bittrex. These exchanges offer numerous options of Crypto-Currency but do not accept any fiat deposits for making trades. Yes, you have to use the Crypto-Currency that you have already purchased in order to trade with any other form of coins that you choose.

Where do Bitcoins get stored?

When you purchase Bitcoins from an exchange, the website will display your balance. It is up to you whether you wish to keep the balance with that particular exchange or take it somewhere else. You also have the option of transferring your balance in part or full.

You may also not want to keep your coins stored in one particular website for long. Think of it as a bank, but without the necessary transparency of actual establishments. You may lose all access to your coins in case the website decides to shut down or loses all records due to hacking. Without any transparency or access to the database directly, you may have no way of tracking your coins in case of such mishaps. Hence, you must keep moving your coins from one exchange to another in order to ensure that you are able to track your wallet at all times.

What is a “Wallet”?

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You may have come across the term “Wallet” in many gateways. So, what exactly does this term mean? Well, simply stating, a Wallet is quite similar to the wallet you carry. The money in it belongs to you only and cannot be accessed by anybody else without your approval. Having your coins stored in the Wallet offered to you by the gateway allows you complete authority over your coins. Not even the website can access your wallet or stop you from accessing or trading
your coins.

The Wallets on these exchanges also allow you to access your coins from anywhere as long as you have a computer or a mobile device with internet. This is quite contrary to an actual wallet where you lose all the money in it in case you lose the wallet for any reason. Since the coins are not stored directly on the hard drive of the computer device, you can access it on any device as long as that has access to the internet.

You also need to remember your login credentials and the private key to your account in order to access your account or your wallet. Without the necessary credentials, you will not be able to touch your coins even though they are technically still yours.

Hence, you must choose a reliable and secure wallet before you decide to move your Crypto-Currency from one exchange to another. The wallet must have proper security processes with adequate backup options so that you can access the contents of your wallet even if the website has issues. One of the best wallets out these is Exodus, a platform that supports a variety of coin options and also has a simple and easy-to-use interface.

If you are entering the world of Crypto-Currency trading for the first time, you may be faced with numerous challenges. There are plenty of different concepts that you may have to be acquainted with. Moreover, you may also find that different exchanges work in tandem with varying concepts, something that may often leave you confused. The world of Crypto-Currency trading is constantly evolving and you may have to keep up with new developments all the time in order to prosper.

This challenge may, however, keep you on your toes and make things interesting for you. After all, every day brings new ideas, developments, possibilities and technological advancements. You must also keep up at all times and explore trending concepts in order to excel in this world of crypto-currency.

Buy and sell cryptocurrency on Binance


Previous posts that may be of interest to you:
Faster, Lighter, Highly Scalable and Unique !? this is IOTA !
This is Eos! And this is some reasons that can let us to Invest In!
From App Store to DApps Store !
Ripple’s plan for XRP was always to have a cryptocurrency that would be safe, useful and fast for institutional transfers !
Why EOS is going to be the TRUMP TOWER !

To support me!

Delegate steem power or donate steem to @simobnr

Donate other cryptos to :
IOTA: UKLNL9KXJKIIKPGDYS9AUGUKDOKPNAZ9THYSXAKFYEVURGO9CQI9XGPMPHUBOTXDDGGEWHQG9LYSIBIFWKXBITNNGB
Ethereum: 0x63a65a8f8e850e58d941afe55df4c213295befcd
Bitcoin: 1EVbgEB2hRYoJjWckzDSXNHtAmQEPdRnHC
Litecoin: LXM1o2mvUmSMCS1a9z8X91JGGZ4os1crps

All the best!​
simo


Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

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As usual buy low sell high!

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if only it was that easy

What about to use DEX exchangers? Do you think they are not yet developed?

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There are some more decentralized exchanges out of which few are still being build and few are still have very low liquidity or are facing security difficulties.
So can'nt advice you to use a spesific one but go here and do mor research before use DEX !
https://coinsutra.com/best-decentralized-exchanges-dex/

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Thank you for suggestion, i use Waves and it is second in the list, where i put my coins too, what do you think about that?

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good, future is for dex :)

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true sir, binance is also working on decentralized exchange, sorry for unwanted opinon

Crypto is so overwhelming to newbies! This is a great link to share with my friends! Thank you and upvoted!!

nice introduction to crpyto

What I've learned is that no one knows anything. Besides a very small portion of people who have studied stocks, economics, and trading their entire life, we're all just making it up as we go along. If you believe in the technology, buy it now and it will eventually go up. If you try to time the market or spend all of your time looking at charts, you're going to drive yourself insane. I check the price once a week, and browse this sub and /r/ethereum for any interesting and exciting news. I know it's become a meme, but hodling is the safest way to eventually make profits

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agreed, all the people that we think are "experts", they don't know as much as we think they know...

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I think no one is perfect and expert in crypto . This is an unexpected till now . I also do the TA in my blog also you can check but not expert. This is my experience only that is share here in blogs . Simple fanda buy rumors sell news if you are a trader

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so totally true, agree with you 100% always best to HODL, i think though crypto could become a good peer to peer and created fairness of resources in society, is my thought

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I basically don't trade. I invest (3-5 years) long term on cryptos and stocks, which I believe in. (I have my own philosophy (future proof, sustainable...) , principles (No Fear of missing out, research extensively before buy...) and try to always stick to that. The few times I deviate it cost me.
This way you are almost immune to market manipulations.

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Thanks For Sharing!! You've got a new follower!! Hey You got a minute? CLICK on this link, enter your e-mail, and then watch the video!!
www.winwithroberthollis.com/pjcswart

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Definitely. For people who don't trade at all, best not to. However, learning some basic tools like moving averages can help you determine to enter or exit the market

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There are people who know crypto, but there are so many who don't (yet still comment on it) that the good ones get lost amongst the bad.

I strongly disagree that the old school financial and trading experts know crypto. My experience tells me the opposite. Crypto does not behave like traditional stocks and commodities. This is a fact which they seem completely incapable of "un-learning". They try to apply their market knowledge to a blockchain based tech in the early phases of adoption and fail miserably. I find very few of them are willing to buy crypto at all, they are normally dead against it; thereby demonstrating their complete misunderstanding of the crypto market or their inability to even trade what should be a great money making asset due to its high volatility.

Just look at Warren Buffett or Jamie Dimon for perfect examples of what I mean.

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You are talking when you start invest at early stage but where I am living today on the date of 13 july I am talking, no one knows about bitcoin and cryptocurrency . It's just shocking when I try to told peoples and they said it's scam without hear me. I don't know how can they neglect the future technology even some graduate and post graduate peoples also. By god

Thanks For Sharing!! You've got a new follower!! Hey You got a minute? CLICK on this link, enter your e-mail, and then watch the video!!
www.winwithroberthollis.com/pjcswart

I've read that it's not easy to predict the future but since the big stock market players are not here yet it's easier for the small fish to earn some gains.

i started in crypto in October 2017 and been an exciting journey since then, i am a long term hodl,

You got a 48.18% upvote from @brupvoter courtesy of @simobnr!

Hello simobnr sir,Your blog is very good. In which case you have given the information about the bitcoin, it is very important that I have carefully read your given information and made a notice. The information that you have given about the development quotes will show in my future and I will introduce them in the future.Please help me.

i invest in real state with crypto it is better than have them just sitting on my wallet doing nothing
https://westlandstorage.com/investors?p=121910

hmm...steem may b...
do have a look at my post at provide your feedbacks..

Invest in trusted projects .i.e. invest in those projects which have strong concept which will have a chance to grow in future when bull run is about to begin and trade in binance exchanges- No.1 exchange

I have been hodling all through the bear market and now I am 99% down but I will not give up. It's hodl and win or hodl and die for me.

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Keep hodling and you will win. :) Assuming you have good coins that is. Right now the market is down, but it will be bouncing back up again. Right now the institutions are creating much of the FUD so they can buy up big very cheaply.

You are right, @simobnr crypto curreny is the future of world economy, if we have holding power and patience it will return good profit. Can you suggest me any other altcoins to buy for intraday and long term trading.

@simobnr Sir, I would really appreciate if you can support people like us. Your little help will help us grow too.
Looking forward to hearing soon from you. Thank you.

that's a really good blog to educate the newbies, and ya i agree that bitcoin is the most safe investment for the time-being!
CHEERS

You got a 27.13% upvote from @postpromoter courtesy of @simobnr!

Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!

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There are small opportunities to make 5%-10% daily with Altcoins, especially when he market is all red like today.

STEEM 11% wave today
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The question is: does something that goes down one day, automatically go up the other day?

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I would say yes to 9 out of 10 good altcoins with decent volume. Take STEEM for example, for the past week, evertyime it drop to around $1.30, you will always see a quick 7% - 13% rebound, then slowly back down again. The hard part is catching the drop at the bottom so you can maximize the rebound. Do you notice any trends lately from any of the coins that you analyze?

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you will receive an upvote from danlupi! Thanks for playing Mello :)

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Thanks Dave. This was quite a nice surprise.

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you received an up vote from danlupi with voting power of 84.81%. Estimated dollar amount of $2.72

hello there!!!!
what do you think about to hold cryptos what pays dividends like kcs, neo, nexo, cet, ont, etc. do you think it is a great idea???

good luck!!!
have a great day!!!

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I hold NEO that generates gas, think to hold EOS also that can generate passive income, I invest in top 10 market cap​p

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@simobnr neo is very good coin and it does not have even transaction fees, I think it will be in top 3 coins by next year,what do you think??

Keep on investing the future is bright

@simobnr i invest in bitconnect but bad luck bitconnect shut down and big scam of history

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oh no, sorry to hear about that

thank you sir

@simobnr ,i agree with u as binance is world's best exchange, no other exchange has seen such a huge success which binance has got in less than a year.

Wow a nice blog.please follow and upvote i am new here

This post received 0.62 SBD upvote from @tipU funded by @cardboard | @simobnr now has a chance to win free @steembasicincome share :) | Voting service guide | For investors.

Fantastic work with this one, kudos

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Sneaky Ninja Attack! You have just been defended with a 19.72% upvote!
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Whenever anyone gives any information about bitcoin , I am happy , because in this we are only increasing popularity and knowledge about bitcoin in the long run

This post has received a 8.19 % upvote from @boomerang.

i have hold some cryptocurrency . i have trading some exchange such like binance bittrex wazirx zeppay koinex etc. but binance exchange is most sucessful some times within year most profirtable .

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binance has been a great exchange

g00d your post

A quick and pleasant way to know how and where to invest in cryptocurrencies, Thanks for such a significant contribution. Of something if I am convinced, the crypto will evolve to the world in which we live, sooner rather than later. Happy day!

Which is perfect time to enter in crypto.. Share your opinion.. I am on survey if you are work on crypto market suggest me to follow you..

Congratulations @simobnr!
Your post was mentioned in the Steemit Hit Parade in the following category:

  • Pending payout - Ranked 4 with $ 330,52

tell where you buy crypt for fiat

Great post totally useful information. All good information in a single blog waiting another blog like this from your side when will you post .?????

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Hi, thank you for reading ! will post regularly just follow me and check your feed, you will find my post in.

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Gave a upvote me to grow up 😃😃😃

Invest in crypto it's the better idea that I had

Interesting post - I'm excited for the future of cryptocurrency!

Hey everyone am new here looking for followers. Will follow back ASAP. Thanks very much

Good information for Noobs. All information under one post

i have still remebering my first crypto invest

I will buy this week 0.12 bitcoin. Then i will buy for that sbd. Want to invest in STEAM . Woulb buy more but i am poor :(

I think that those of us who really believe in the technology should not worry about the price. And its also because of the fear that price will drop, and the fact that we go in with the mindset of "investing" and earning money that disappoints us the most.

While some are viewed as investments like stocks and some cryptocurrencies are viewed as currency, those of us "investing" in the currency should try not to sell. The very point of a currency is a medium of exchange, not to earn money. The value will eventually go up, mechanisms and systems will come in place to use these mediums of exchange in the future, and price will stabilise with that. Isn't that what we want with cryptocurrency? Or just blindly waiting for the price to go up and sell and repeat? @simobnr what do you think sir?

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good point! the most important before investing at any crypto is understand the technology behind it, and use case, not price up or down :)

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I also tend to focus on the end game for cryptocurrency: being a better form of money. While the ascend to adoption is a great ride, the core application of Bitcoin (to me) is being an honest ledger. A true and verified account of what happened. In the end, that should lead (if Bitcoin becomes the one to lead them all) to better coordination among people from an economic perspective, and thus more wealth for us all.

That (to me) is the big promise of Bitcoin.

For some food for thought on Bitcoin serving as a stable numeraire, see: http://www.gata.org/node/8303 (Bitcoin not mentioned as option since the piece is form 2001)

Really nice post! A solid breakdown. Are you familar with ICO's?

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hi, will post about ICO's :)

https://get.cryptobrowser.site/1939657

If uh open the link and install the aap uh will get free bitcoin hurry up and install thiss

Nowadays, cryptocurrency as an alternative to fiat money is used in more and more areas of our society. Many applications and platforms are developed using only cryptocurrencies. Moreover, you can exchange your crypto easily to other coins. At Blockbasis, we pledge to protect user and transaction information when sending and receiving cryptocurrency via email, where we based our services on the blockchain. No need for any public or private keys, just good old emails!

i think this is only the best time to invest in crypto otherwise all will regret

Kinda Informative Blog ! #KeepItUp :)

Muy bueno su blog. Apenas soy un principiante en este mundo de las criptomonedas, aprendiendo cada día más. Invierto un poco en criptomonedas económicas como Edinar, que opina sobre ésta? es invertir en criptomonedas como ahorro a largo plazo sin poner en riesgo lo que necesito diariamente. Pienso que siempre debemos investigar y estar al tanto del mismo todos los días.

I am earning crypto just by posting on steemit.com

Only time I invested into crypto was when I bought ethereum and i managed to double my money.

It wasn't alot, I can't remember how much but I think it was like 50€ to 100€

Exactly same questions came to my mind. I think you success to catch real emotions of the new comers in this blog. That's why I like it.

Please read the post: #Life is a dream or dream is life#

If you give me upvote and I have given you an upvote.

https://steemit.com/life/@mdsohagm752/life-is-a-dream-or-dream-is-life

@simobnr i am regular investor but my most of last invest came in january.. but i am in crypto from around last 2years.. from how much time you are there in crypto ?

Reading and learning your post. Thanks for sharing.

What would be the future of Crypto? Please share a post on this topic too!!

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Ok will do ! Before will post about about ico scam! Follow me !

Very nice bro

Upvoted your steem, interesting to read!

i am still remembering the day when i have invested in crypto.

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same here, the first day was the most exciting

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https://get.cryptobrowser.site/1939657

If uh open the link and install the aap uh will get free bitcoin hurry up and install thiss

@simobnr I think future belongs to those exchanges which use both centralized and decentralized technology, as voiced by Vitalik Buterin. Blockchain.io is one such exchange which will use centralized technology for maintaining order books and decentralized for clearing transactions.

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I am new for crypto so I am just study and I will invest

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