Current Events > CE, I want to get into Crypto but I'm clueless and have a few questions.

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Nightmare_Luna
12/21/17 9:46:16 PM
#1:


How do I invest into altcoin?
Can I use PayPal to buy BTC?
How do I find which altcoins are good investments? When do I withdraw?
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FightingGames
12/21/17 9:47:59 PM
#2:


Nightmare_Luna posted...
How do I invest into altcoin?

create an account on binance and move your BTC or ETH over there to trade for alts

Nightmare_Luna posted...
Can I use PayPal to buy BTC?

can't recall any exchanges that accepts PP

Nightmare_Luna posted...
How do I find which altcoins are good investments?

check out the crypto general topic

Nightmare_Luna posted...
When do I withdraw?

any time you want
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CiIantro
12/21/17 9:48:04 PM
#3:


Nightmare_Luna posted...
How do I invest into altcoin?
Can I use PayPal to buy BTC?
How do I find which altcoins are good investments? When do I withdraw?


1. Got to https://www.coinbase.com and follow the instructions
2. Credit card or bank account only
3. It is a total crapshoot. Nobody knows what they are doing, but that doesnt matter because everything is going up.
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ShadowofSolidus
12/21/17 9:54:44 PM
#4:


Nightmare_Luna posted...
How do I invest into altcoin?

You usually buy bitcoins from exchanges like Coinbase or Gemini, then you use sites like Binance to trade the bitcoins for altcoins (there are many to choose from).

Can I use PayPal to buy BTC?


Not sure if exchanges like Coinbase or Gemini does that. You usually link your bank account to the exchanges, then you can buy the bitcoins. It takes some time for you to get verified though.

How do I find which altcoins are good investments? When do I withdraw?


3 Strategies:

1. Buy it no matter what the price is and hold it until it goes up (even if it goes down you still don't panic-sell)

2. Buy when it dips down, and sell when it peaks.

3. Do some research on the cryptocurrency that you find interest in. There are many with specific purposes. The Golem coin for example is designed for decentralized computer power sharing.
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Nightmare_Luna
12/21/17 11:39:40 PM
#5:


Okay I bought 10$ BTC and 10$ ETH, what do I do now?
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"That's not a character, that's a set of bondage gear that can cast Ice 2."
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HydroCannabinol
12/21/17 11:56:44 PM
#6:


Lol 10 bucks wont do much
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Nightmare_Luna
12/21/17 11:58:44 PM
#7:


HydroCannabinol posted...
Lol 10 bucks wont do much

No it won't but any profit is a success, I want to just test the waters with this
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"That's not a character, that's a set of bondage gear that can cast Ice 2."
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XplodnPnguins92
12/22/17 12:00:01 AM
#8:


now you wait for the market to hopefully rebound.
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CiIantro
12/22/17 12:00:44 AM
#9:


Nightmare_Luna posted...
Okay I bought 10$ BTC and 10$ ETH, what do I do now?

Buy $980 more of each.
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Classic026
12/22/17 12:02:28 AM
#10:


Nightmare_Luna posted...
HydroCannabinol posted...
Lol 10 bucks wont do much

No it won't but any profit is a success, I want to just test the waters with this


By the time you test the waters, see a profit and decide to invest more, the market will already have gone up substantially and you'll wish you would have just invested more when it was a lot cheaper. Kinda what I did tbh but still got in early-ish in the grand scheme of things.
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Dash_Harber
12/22/17 12:11:52 AM
#11:


Nightmare_Luna posted...
How do I invest into altcoin?


Altcoin isn't a thing, it's a term for basically all coins that aren't Bitcoin. Bitcoin is a type (think Kleenex) whereas coin/cryptocurrency/digital currency/altcoin is a term (think tissues).

Generally, you buy them through a broker or exchange, or you buy them directly from the creator during the ICO phase. If you have the technical chops, you can also build a computer to 'mine' currency (using computer power to verify trades in the network).

Nightmare_Luna posted...
Can I use PayPal to buy BTC?


It depends entirely on what exchange you use. There are technically two main ways to buy any coin. First, you can buy them directly from someone else (think Craigslist). The other, more popular option, is to buy them from an exchange, which is a privately owned group that facilitates trades between buyers and sellers (think something between a traditional brokerage and a stock exchange). Coinbase is generally the most popular.

Nightmare_Luna posted...
How do I find which altcoins are good investments? When do I withdraw?


There are 1,000 or so coins right now, so basically its anyone's guess. If I could tell you a perfect formula, I'd be rich myself. It's a gamble and you should never, ever, ever invest money you can't afford to lose. Just like stocks, you should set a goal and sell when you reach it. Base it on your financial goals.

Generally speaking Bitcoin, Ether, Litecoin, and Ripple have been making a lot of noise lately (Bitcoin and Ether are basically the firsts). I also heard about one today that is focused on funding the cannabis market and it's started by a former Miss America winner or something like that. It's called Paragon. It sounded like horseshit to me, but it rose like 1,000% in the last couple hours.

Other than that, just look at ones that are moving and try to strike when the time is right. Remember that it's not the price or the market cap that are important, it's the percentage change in the coin.
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