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Trading cryptocurrency?

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Is anyone here trading cryptocurrency, bitcoin, ethereum, etc?

 

It's something I'd like to try, could anyone recommend a good guide; or offer any advice or insights in to trading cryptocurrency?

 

Thanks.

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Is anyone here trading cryptocurrency, bitcoin, ethereum, etc?

 

It's something I'd like to try, could anyone recommend a good guide; or offer any advice or insights in to trading cryptocurrency?

 

Thanks.

:huh:

Hmmm...

 

I would be very surprised if many forummers have a clue what you're talking about!

 

If the results of a recent poll on here about the age of forummers is to be believed, then I think most of them will have only just got their heads around decimalisation... :roll:

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Waldo did you manage to find a decent bitcoin trading site by anychance?

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Waldo did you manage to find a decent bitcoin trading site by any chance?

 

Yeah, I've been finding my feet with the whole cryptocurrency space.

 

There are plenty of exchanges to choose from where you can trade fiat currency for crypto; however, trading in GBP isn't that common, and when there is a low volume of trades, it seems harder to get a good deal.

 

I've found good options for getting GBP in to EUR/USD then on to exchanges; so in future, that's probably what I'll do. I have more to invest, just need to get myself more informed and educated, so I know what coins to get in to, and when.

 

So, the exchanges I used...

 

coinbase.com

Had to do a SEPA transfer (converting GBP>EUR at banks crappy rate) to coin base, then bought a little crypto. Very user friendly. Nice app.

 

localbitcoins.com

Can talk direct with seller. Buy in GBP via national bank transfer, so very speedy, but, not a great price VS using a proper exchange.

 

coinbanks.com

Bought a couple of batches of lite coin here. At £35, then later at £40. Alarmingly the value has almost doubled, it was at £75 earlier tonight. I'm sure the price will come back down; but from what I can tell, the long term prospects for lite coin are very good (so will be holding for the long term). I won't be using this exchange again though. There was a very low volume of trades in GBP, and I paid slightly (about 3%) over the odds.

 

coinfloor.co.uk

Heard good things about this one.

 

If anyone is interested, I'll post a link to a beginner guide to this stuff?

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Waldo,

 

I've put one or two things on the Forum about Bitcoins. I'd appreciate your link -thank you.

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Hope this is helpful. If I got anything wrong, please feel free to correct me or contribute to the thread. Lastly, none of this is advice; also, you can lose money. I'm not responsible...

 

 

A beginners guide to blockchain technology:

https://www.coindesk.com/information/what-is-bitcoin/

 

It's a series of lessons / webpages. Click on the icons down the left side of each page ("Why use bitcoin?", "How can I buy bitcoin?", etc) to progress through the series.

 

A quick convenient way to buy bitcoin/ethereum/litecoin is with:

https://www.coinbase.com/

 

They'll need to do KYC/AML, so have a scan of your passport or other id ready; you're likely to need it during the signup and id verification process (most exchanges will require this kind of thing).

 

Once you've got your crypto currency; if you have a decent amount of it; you'll want to consider security. There have been stories of exchanged being hacked and a lot of bitcoin being stolen; so you'll often hear advice along the lines of "don't keep your stash on an exchange" (only have it on an exchange if and while you're trading).

 

You can move if from an exchange to your own 'wallet'; either on a mobile device, or desktop, or even a paper wallet (essentially, all you're storing is a private cryptographic key, which allows you to control resources on the blockchain). You can also get a hardware wallet for more security.

 

https://www.cryptocompare.com/

Is a good general site; check out different coins, exchanges, wallets etc.

 

https://coinmarketcap.com/

Lists all the various cryptocurrencies by market cap.

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I've just got into trading cryptocurrency and been doing moderately well and I'm currently looking into buying a trading robot!

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I've just got into trading cryptocurrency and been doing moderately well and I'm currently looking into buying a trading robot!

 

Have you checked out any of the bots? You have to be careful when searching for a trading bot because some can be detrimental to your trading funds, i managed to find one that has been bringing me good consistent results, so my plan is to run this bot in the background and also run another account manually. If i lose any trades manually the bot should cover my loss with my background account and if i win my trades manually i should also get an return from the background account=robot :thumbsup:

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Also very interested in technical analysis and trading bots. If anyone want's to share what they're using in that regard, and what kind of results they're getting; great!

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Take a look at the eToro site. Very simple for beginners and you can copy other traders with ease. You can trade mainstream currencies, commodities, stocks etc but whether it be any of these or crypto currencies be aware that you are not actually trading directly but opening 'contracts for difference'.

You can also learn the ropes with a virtual portfolio before you commit real cash.

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Just be aware, if you are 'investing' in bitcoin, that a few individuals can bring the price crashing down by selling even a small proportion of their hoards.

 

Of course, if you're simply using it as wealth transfer, then its price is irrelevant providing you transact within a relatively small period of time.

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Just be aware, if you are 'investing' in bitcoin, that a few individuals can bring the price crashing down by selling even a small proportion of their hoards.

 

Of course, if you're simply using it as wealth transfer, then its price is irrelevant providing you transact within a relatively small period of time.

........also in the current East/West political climate Cryptos could crash overnight at any time!.............Gold will always be the eventual winner over fads!

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