If you've got any intention of holding any of these coins there is no harm in buying in over time. There is so much activity in the market right now that everything is rising quickly and it feels like if you don't get your money in now it will be too late. I bought some Litecoin just before the big run-up began over the last week, then 2 days after the first purchase added a little more. Since then it has gone up and come back some. When I bought it in the first place for around $100 my intention was to buy about 1 a week and just let my position develop overtime. I'm certainly glad at the paper gains on the coins I purchased then, but now I'll probably take a slightly different approach to building my position. Maybe buy another 1 or 2 coins this week and then the next week or two compare the current price to my cost-basis and see if I want to add to it or stay.
More generally, I've been learning more about the different exchanges, wallets, and currencies, and I think I plan to take about $5000 and spread it across 5 currencies that I'll sit and watch, then add to if it makes sense for any of them
Wow ripple sure did shoot up today. Anyone know anything about Tron? Apparently that's the next cheap crypto currency people think might go up. It's only a cent right now
My understanding is that once you have your funds on an exchange (Coinbase/GDAX, in particular), you can trade without fees (on GDAX) if you are using limit orders (rather than market orders). I imagine you could day trade pretty easily, as I have a friend that is attempting it, but as I understand from the stock market, by just missing the five biggest trading days in something like a five year period would cause you to miss out on a substantial portion of the gains in that period. I wish I could remember the right quote or time frame, but essentially you can make more by holding than by attempting to time the market, because when you try to time the market you miss out on the huge upswings (because you're waiting for the "dip"). Point in case, I'm sure many sold BTC at $11,000 or $12,000 when it had just broken $10k, only to miss out on riding up further above $16,000. Now its trading in a more narrow band, but still swinging back and forth $1,000 a day
Wow ripple sure did shoot up today. Anyone know anything about Tron? Apparently that's the next cheap crypto currency people think might go up. It's only a cent right now
There are literally hundreds, if not thousands, of forked/spin-off coins. If BTC is a hype-bubble, believe me, any sub-crypto that's new and trading for "cents" is almost 100% riding on the hope of hype. I've been trading this stuff for over 5 years and had a lot of success.
Back in my hay-day, my rules for investing in ICOs (which back then there were only 2-3 a year) was simple-- look for projects that are new, fresh and truly innovating the space. This worked out well. My first that I got in right after an ico was Nxt. It did well and made a good bit for me. After Nxt, I stuck to trading on sites like Cryptsy (which was hacked and failed) BTER (only because I had to for some currencies) and now Poloniex.
I will tell you this. In this market, remain very cautious and skeptical of everything. Your skepticism may make you miss the "next big thing" but if you educate yourself and do your best to make wise decisions, you'll probably only make choices that will make you more... BTC. I'd say profit but the fact is, even with Ethereum, the fiat value of all of these currencies rides with BTC. It's not a perfect 1-1- ratio and values do fluctuate. However, if you invest in promising-coin-x, and bitcoin does 90% crash tomorrow, people may still "love" your new coin but it will still see a 60-80% fall in price when BTC crashes.
I'm personally out of BTC for now. I cashed out my funds a couple days ago and I'm holding USD. Charts seems a bit top-heavy when you look at the orderbooks. But, BTC is always full of surprises and I am even in the camp that feels like it could still reach $40-50,000... some day. But, I think that day may be years away. Whether it happens around $18k... $20k or even $25k, I think there's about to be another correction. I could easily be wrong though. My crystal ball isn't as accurate as it use to be back when BTC was trading for less than $1,000 and there weren't as many factors at play.
I understand the risks. Not investing much. I missed the boat on all the more expensive stuff so I'm looking at the cheaper stuff now. Already made a little from the ripple spike. Now I'm trying my luck on the Tron Train. All aboarddddddddd! Haha this is quite the fun ride. I'm hoping Tron cracks 2 cents tonight. It's very close right now.
Wow ripple sure did shoot up today. Anyone know anything about Tron? Apparently that's the next cheap crypto currency people think might go up. It's only a cent right now
There are literally hundreds, if not thousands, of forked/spin-off coins. If BTC is a hype-bubble, believe me, any sub-crypto that's new and trading for "cents" is almost 100% riding on the hope of hype. I've been trading this stuff for over 5 years and had a lot of success.
Back in my hay-day, my rules for investing in ICOs (which back then there were only 2-3 a year) was simple-- look for projects that are new, fresh and truly innovating the space. This worked out well. My first that I got in right after an ico was Nxt. It did well and made a good bit for me. After Nxt, I stuck to trading on sites like Cryptsy (which was hacked and failed) BTER (only because I had to for some currencies) and now Poloniex.
I will tell you this. In this market, remain very cautious and skeptical of everything. Your skepticism may make you miss the "next big thing" but if you educate yourself and do your best to make wise decisions, you'll probably only make choices that will make you more... BTC. I'd say profit but the fact is, even with Ethereum, the fiat value of all of these currencies rides with BTC. It's not a perfect 1-1- ratio and values do fluctuate. However, if you invest in promising-coin-x, and bitcoin does 90% crash tomorrow, people may still "love" your new coin but it will still see a 60-80% fall in price when BTC crashes.
I'm personally out of BTC for now. I cashed out my funds a couple days ago and I'm holding USD. Charts seems a bit top-heavy when you look at the orderbooks. But, BTC is always full of surprises and I am even in the camp that feels like it could still reach $40-50,000... some day. But, I think that day may be years away. Whether it happens around $18k... $20k or even $25k, I think there's about to be another correction. I could easily be wrong though. My crystal ball isn't as accurate as it use to be back when BTC was trading for less than $1,000 and there weren't as many factors at play.
Which exchanges would you recommend for the cheaper, not-so-popular cryptos? Which ones are safe to use? I'm considering buying some XRP, Monero, and maybe a few others, but haven't looked into other exchanges much yet, and I hear a few are possibly shady exchanges.
Ended up selling all mine. Surprised the sell order got filled and deposited (under 30 mins) so quickly considering the volume I dumped. The traffic must be pretty insane.
Wow ripple sure did shoot up today. Anyone know anything about Tron? Apparently that's the next cheap crypto currency people think might go up. It's only a cent right now
There are literally hundreds, if not thousands, of forked/spin-off coins. If BTC is a hype-bubble, believe me, any sub-crypto that's new and trading for "cents" is almost 100% riding on the hope of hype. I've been trading this stuff for over 5 years and had a lot of success.
Back in my hay-day, my rules for investing in ICOs (which back then there were only 2-3 a year) was simple-- look for projects that are new, fresh and truly innovating the space. This worked out well. My first that I got in right after an ico was Nxt. It did well and made a good bit for me. After Nxt, I stuck to trading on sites like Cryptsy (which was hacked and failed) BTER (only because I had to for some currencies) and now Poloniex.
I will tell you this. In this market, remain very cautious and skeptical of everything. Your skepticism may make you miss the "next big thing" but if you educate yourself and do your best to make wise decisions, you'll probably only make choices that will make you more... BTC. I'd say profit but the fact is, even with Ethereum, the fiat value of all of these currencies rides with BTC. It's not a perfect 1-1- ratio and values do fluctuate. However, if you invest in promising-coin-x, and bitcoin does 90% crash tomorrow, people may still "love" your new coin but it will still see a 60-80% fall in price when BTC crashes.
I'm personally out of BTC for now. I cashed out my funds a couple days ago and I'm holding USD. Charts seems a bit top-heavy when you look at the orderbooks. But, BTC is always full of surprises and I am even in the camp that feels like it could still reach $40-50,000... some day. But, I think that day may be years away. Whether it happens around $18k... $20k or even $25k, I think there's about to be another correction. I could easily be wrong though. My crystal ball isn't as accurate as it use to be back when BTC was trading for less than $1,000 and there weren't as many factors at play.
Which exchanges would you recommend for the cheaper, not-so-popular cryptos? Which ones are safe to use? I'm considering buying some XRP, Monero, and maybe a few others, but haven't looked into other exchanges much yet, and I hear a few are possibly shady exchanges.
The exchanges I'm most familiar with are Binance and Bittrex. If you go to coinmarketcap.com and view any single currency, you can view all of the places that trade that currency. XRP and Monero are top 10 in terms of market cap so you can trade them in several places. I'm still learning, mind you, but I've done most of my exchange trades on Binance because for the currencies I want to buy they have ETH pairings with decent volume. So I can go USD to ETH then trade into my currency of choice instead of using Bitcoin, which has more expensive fees and takes longer. But for certain currencies you may need to go whereever it is offered, particualrly if it is new and not offered in many places
If you are going to trade, sticking with the top-10 is never a bad idea, but if you a little bit of Googling for the top-10 coins of 1016, 15, 14, etc, you'll see that the list is extremely diverse and many of them from just a few years ago, you've probably never heard of. The truth is that many coins have a moment in the spot light, sometimes weeks, some times for as long as a month, and then they fade. The biggest ones that have bucked that trend so far are Ethereum and Ripple.
As far as exchanges go, I like Poloniex, but that's because I've been with them for a long time and they have pretty high volume. There certainly are others but, yeah, I think the best way to choose is to look at the ones with the highest volume trades and to look up security reviews.
This arena is way too volatile to try and day trade. Some people are successful at it, but the majority aren't. If anyone is planning on buying, they have to be doing it for the long haul. Most of these coins will go belly up. If you buy in, HODL!
Wow ripple sure did shoot up today. Anyone know anything about Tron? Apparently that's the next cheap crypto currency people think might go up. It's only a cent right now
There are literally hundreds, if not thousands, of forked/spin-off coins. If BTC is a hype-bubble, believe me, any sub-crypto that's new and trading for "cents" is almost 100% riding on the hope of hype. I've been trading this stuff for over 5 years and had a lot of success.
Back in my hay-day, my rules for investing in ICOs (which back then there were only 2-3 a year) was simple-- look for projects that are new, fresh and truly innovating the space. This worked out well. My first that I got in right after an ico was Nxt. It did well and made a good bit for me. After Nxt, I stuck to trading on sites like Cryptsy (which was hacked and failed) BTER (only because I had to for some currencies) and now Poloniex.
I will tell you this. In this market, remain very cautious and skeptical of everything. Your skepticism may make you miss the "next big thing" but if you educate yourself and do your best to make wise decisions, you'll probably only make choices that will make you more... BTC. I'd say profit but the fact is, even with Ethereum, the fiat value of all of these currencies rides with BTC. It's not a perfect 1-1- ratio and values do fluctuate. However, if you invest in promising-coin-x, and bitcoin does 90% crash tomorrow, people may still "love" your new coin but it will still see a 60-80% fall in price when BTC crashes.
I'm personally out of BTC for now. I cashed out my funds a couple days ago and I'm holding USD. Charts seems a bit top-heavy when you look at the orderbooks. But, BTC is always full of surprises and I am even in the camp that feels like it could still reach $40-50,000... some day. But, I think that day may be years away. Whether it happens around $18k... $20k or even $25k, I think there's about to be another correction. I could easily be wrong though. My crystal ball isn't as accurate as it use to be back when BTC was trading for less than $1,000 and there weren't as many factors at play.
Which exchanges would you recommend for the cheaper, not-so-popular cryptos? Which ones are safe to use? I'm considering buying some XRP, Monero, and maybe a few others, but haven't looked into other exchanges much yet, and I hear a few are possibly shady exchanges.
You should first go to www.coinmarketcap.com from there select the coin you want to buy, go down near the chart and you will notice something directly above it that says "markets." I have attached a file here for you to see that. There you will be able to find where you can buy/sell/trade that particular coin. Note that some of the smaller ones won't accept USD. You will have to buy a big cryptocurrency first and then be able to exchange. Usually the most accepted ones are Bitcoin and Ethereum.
I understand the risks. Not investing much. I missed the boat on all the more expensive stuff so I'm looking at the cheaper stuff now. Already made a little from the ripple spike. Now I'm trying my luck on the Tron Train. All aboarddddddddd! Haha this is quite the fun ride. I'm hoping Tron cracks 2 cents tonight. It's very close right now.
Looks like you're doing well for yourself on that. Cardano has just come out of nowhere too lately.
This is a question for those of you who have follows cryptos for many years. When bitcoin has taken a major hit in the past have other smaller cryptos gone down with it?
Wow ripple sure did shoot up today. Anyone know anything about Tron? Apparently that's the next cheap crypto currency people think might go up. It's only a cent right now
There are literally hundreds, if not thousands, of forked/spin-off coins. If BTC is a hype-bubble, believe me, any sub-crypto that's new and trading for "cents" is almost 100% riding on the hope of hype. I've been trading this stuff for over 5 years and had a lot of success.
Back in my hay-day, my rules for investing in ICOs (which back then there were only 2-3 a year) was simple-- look for projects that are new, fresh and truly innovating the space. This worked out well. My first that I got in right after an ico was Nxt. It did well and made a good bit for me. After Nxt, I stuck to trading on sites like Cryptsy (which was hacked and failed) BTER (only because I had to for some currencies) and now Poloniex.
I will tell you this. In this market, remain very cautious and skeptical of everything. Your skepticism may make you miss the "next big thing" but if you educate yourself and do your best to make wise decisions, you'll probably only make choices that will make you more... BTC. I'd say profit but the fact is, even with Ethereum, the fiat value of all of these currencies rides with BTC. It's not a perfect 1-1- ratio and values do fluctuate. However, if you invest in promising-coin-x, and bitcoin does 90% crash tomorrow, people may still "love" your new coin but it will still see a 60-80% fall in price when BTC crashes.
I'm personally out of BTC for now. I cashed out my funds a couple days ago and I'm holding USD. Charts seems a bit top-heavy when you look at the orderbooks. But, BTC is always full of surprises and I am even in the camp that feels like it could still reach $40-50,000... some day. But, I think that day may be years away. Whether it happens around $18k... $20k or even $25k, I think there's about to be another correction. I could easily be wrong though. My crystal ball isn't as accurate as it use to be back when BTC was trading for less than $1,000 and there weren't as many factors at play.
Which exchanges would you recommend for the cheaper, not-so-popular cryptos? Which ones are safe to use? I'm considering buying some XRP, Monero, and maybe a few others, but haven't looked into other exchanges much yet, and I hear a few are possibly shady exchanges.
You should first go to www.coinmarketcap.com... from there select the coin you want to buy, go down near the chart and you will notice something directly above it that says "markets." I have attached a file here for you to see that. There you will be able to find where you can buy/sell/trade that particular coin. Note that some of the smaller ones won't accept USD. You will have to buy a big cryptocurrency first and then be able to exchange. Usually the most accepted ones are Bitcoin and Ethereum.
Thanks, according to every alt coin I want to buy, I'm going to use Bittrex. Sign ups are currently down though because of high traffic, lol. At least I know what exchange I want to use.
This is a question for those of you who have follows cryptos for many years. When bitcoin has taken a major hit in the past have other smaller cryptos gone down with it?
Depends on how you look at it. If you are trading in BTC, the reaction has been mixed. Some cryptos skyrocket while others have fallen with it. However, if you are looking at their fiat value, then generally they all go down. This makes sense because 95% of every crypto pump has come from BTC excitement. If BTC crashes, everything else crashes by attrition.
This is a question for those of you who have follows cryptos for many years. When bitcoin has taken a major hit in the past have other smaller cryptos gone down with it?
In real money, yes, they all have pretty high correlation to Bitcoin.
Anyone buy in? BTC was at/below $16k when I posted and had a healthy rebound up to $17.7k now.
I have too much money in other places right now so didn't pick up anymore coin but hopefully others took advantage of the panic caused by BCH getting introduced to GDAX.
Bitcoin Cash really messed with the other coins yesterday, much more fluctuation than what I was expecting. It looks to be rebounding now, but that panic surely caused a quick drop.
Bitcoin Cash really messed with the other coins yesterday, much more fluctuation than what I was expecting. It looks to be rebounding now, but that panic surely caused a quick drop.
I don't think it was panic so much as it was a result of insider trading. Money started moving towards BCH HARD right before GDAX announced that it would be including it on the exchange. I'm assuming a lot of people in the know shifted money from BTC, LTC, ETH, etc, to BCH knowing there would be a huge spike. The other coins dipped as BCH shot up.
Coinbase Tweeted out that there was no insider knowlege ahead of BCH going live on the exchange, but that's a load of bullshit IMO.
I can see insider trading stuff being a huge deal in adding to the spike in Bitcoin cash. I remember there were a few people saying Ripple was on its way and that caused it to reach a record high as well on Coin market cap. Interesting to see nonetheless.
^^^ I'm thinking it's going to be sitting at around 30% less than where it's at currently. Once it's corrected, we'll be able to see where the others end up as well. This constant state of flux is exciting!
I understand the risks. Not investing much. I missed the boat on all the more expensive stuff so I'm looking at the cheaper stuff now. Already made a little from the ripple spike. Now I'm trying my luck on the Tron Train. All aboarddddddddd! Haha this is quite the fun ride. I'm hoping Tron cracks 2 cents tonight. It's very close right now.
Looks like you're doing well for yourself on that. Cardano has just come out of nowhere too lately.
Yep Tron has been doing pretty well lately. Here's to hoping it stays above 5 cents for a little longer than the last time it cracked 5. The cheaper ones are taking off. Just look at Verge
Comments
Data for LTC for the week. For sure been a rollercoaster.
The correction has begun! Maybe. Did you end up buying in at all?
Data for LTC for the week. For sure been a rollercoaster.
The correction has begun! Maybe. Did you end up buying in at all?
I did not. I was all hyped up then took the GF's advice and slept on it. When I seen it the next day I knew I couldnt handle it. lol
Data for LTC for the week. For sure been a rollercoaster.
The correction has begun! Maybe. Did you end up buying in at all?
I did not. I was all hyped up then took the GF's advice and slept on it. When I seen it the next day I knew I couldnt handle it. lol
Lol! Good call! It's a rollercoaster to say the least.
More generally, I've been learning more about the different exchanges, wallets, and currencies, and I think I plan to take about $5000 and spread it across 5 currencies that I'll sit and watch, then add to if it makes sense for any of them
With all the fees how much of a swing does it take to turn a profit from riding these bumps up and down.
Does anyone here day trade this thing?
Wow ripple sure did shoot up today. Anyone know anything about Tron? Apparently that's the next cheap crypto currency people think might go up. It's only a cent right now
There are literally hundreds, if not thousands, of forked/spin-off coins. If BTC is a hype-bubble, believe me, any sub-crypto that's new and trading for "cents" is almost 100% riding on the hope of hype. I've been trading this stuff for over 5 years and had a lot of success.
Back in my hay-day, my rules for investing in ICOs (which back then there were only 2-3 a year) was simple-- look for projects that are new, fresh and truly innovating the space. This worked out well. My first that I got in right after an ico was Nxt. It did well and made a good bit for me. After Nxt, I stuck to trading on sites like Cryptsy (which was hacked and failed) BTER (only because I had to for some currencies) and now Poloniex.
I will tell you this. In this market, remain very cautious and skeptical of everything. Your skepticism may make you miss the "next big thing" but if you educate yourself and do your best to make wise decisions, you'll probably only make choices that will make you more... BTC. I'd say profit but the fact is, even with Ethereum, the fiat value of all of these currencies rides with BTC. It's not a perfect 1-1- ratio and values do fluctuate. However, if you invest in promising-coin-x, and bitcoin does 90% crash tomorrow, people may still "love" your new coin but it will still see a 60-80% fall in price when BTC crashes.
I'm personally out of BTC for now. I cashed out my funds a couple days ago and I'm holding USD. Charts seems a bit top-heavy when you look at the orderbooks. But, BTC is always full of surprises and I am even in the camp that feels like it could still reach $40-50,000... some day. But, I think that day may be years away. Whether it happens around $18k... $20k or even $25k, I think there's about to be another correction. I could easily be wrong though. My crystal ball isn't as accurate as it use to be back when BTC was trading for less than $1,000 and there weren't as many factors at play.
Wow ripple sure did shoot up today. Anyone know anything about Tron? Apparently that's the next cheap crypto currency people think might go up. It's only a cent right now
There are literally hundreds, if not thousands, of forked/spin-off coins. If BTC is a hype-bubble, believe me, any sub-crypto that's new and trading for "cents" is almost 100% riding on the hope of hype. I've been trading this stuff for over 5 years and had a lot of success.
Back in my hay-day, my rules for investing in ICOs (which back then there were only 2-3 a year) was simple-- look for projects that are new, fresh and truly innovating the space. This worked out well. My first that I got in right after an ico was Nxt. It did well and made a good bit for me. After Nxt, I stuck to trading on sites like Cryptsy (which was hacked and failed) BTER (only because I had to for some currencies) and now Poloniex.
I will tell you this. In this market, remain very cautious and skeptical of everything. Your skepticism may make you miss the "next big thing" but if you educate yourself and do your best to make wise decisions, you'll probably only make choices that will make you more... BTC. I'd say profit but the fact is, even with Ethereum, the fiat value of all of these currencies rides with BTC. It's not a perfect 1-1- ratio and values do fluctuate. However, if you invest in promising-coin-x, and bitcoin does 90% crash tomorrow, people may still "love" your new coin but it will still see a 60-80% fall in price when BTC crashes.
I'm personally out of BTC for now. I cashed out my funds a couple days ago and I'm holding USD. Charts seems a bit top-heavy when you look at the orderbooks. But, BTC is always full of surprises and I am even in the camp that feels like it could still reach $40-50,000... some day. But, I think that day may be years away. Whether it happens around $18k... $20k or even $25k, I think there's about to be another correction. I could easily be wrong though. My crystal ball isn't as accurate as it use to be back when BTC was trading for less than $1,000 and there weren't as many factors at play.
Which exchanges would you recommend for the cheaper, not-so-popular cryptos? Which ones are safe to use? I'm considering buying some XRP, Monero, and maybe a few others, but haven't looked into other exchanges much yet, and I hear a few are possibly shady exchanges.
Wow ripple sure did shoot up today. Anyone know anything about Tron? Apparently that's the next cheap crypto currency people think might go up. It's only a cent right now
There are literally hundreds, if not thousands, of forked/spin-off coins. If BTC is a hype-bubble, believe me, any sub-crypto that's new and trading for "cents" is almost 100% riding on the hope of hype. I've been trading this stuff for over 5 years and had a lot of success.
Back in my hay-day, my rules for investing in ICOs (which back then there were only 2-3 a year) was simple-- look for projects that are new, fresh and truly innovating the space. This worked out well. My first that I got in right after an ico was Nxt. It did well and made a good bit for me. After Nxt, I stuck to trading on sites like Cryptsy (which was hacked and failed) BTER (only because I had to for some currencies) and now Poloniex.
I will tell you this. In this market, remain very cautious and skeptical of everything. Your skepticism may make you miss the "next big thing" but if you educate yourself and do your best to make wise decisions, you'll probably only make choices that will make you more... BTC. I'd say profit but the fact is, even with Ethereum, the fiat value of all of these currencies rides with BTC. It's not a perfect 1-1- ratio and values do fluctuate. However, if you invest in promising-coin-x, and bitcoin does 90% crash tomorrow, people may still "love" your new coin but it will still see a 60-80% fall in price when BTC crashes.
I'm personally out of BTC for now. I cashed out my funds a couple days ago and I'm holding USD. Charts seems a bit top-heavy when you look at the orderbooks. But, BTC is always full of surprises and I am even in the camp that feels like it could still reach $40-50,000... some day. But, I think that day may be years away. Whether it happens around $18k... $20k or even $25k, I think there's about to be another correction. I could easily be wrong though. My crystal ball isn't as accurate as it use to be back when BTC was trading for less than $1,000 and there weren't as many factors at play.
Which exchanges would you recommend for the cheaper, not-so-popular cryptos? Which ones are safe to use? I'm considering buying some XRP, Monero, and maybe a few others, but haven't looked into other exchanges much yet, and I hear a few are possibly shady exchanges.
The exchanges I'm most familiar with are Binance and Bittrex. If you go to coinmarketcap.com and view any single currency, you can view all of the places that trade that currency. XRP and Monero are top 10 in terms of market cap so you can trade them in several places. I'm still learning, mind you, but I've done most of my exchange trades on Binance because for the currencies I want to buy they have ETH pairings with decent volume. So I can go USD to ETH then trade into my currency of choice instead of using Bitcoin, which has more expensive fees and takes longer. But for certain currencies you may need to go whereever it is offered, particualrly if it is new and not offered in many places
As far as exchanges go, I like Poloniex, but that's because I've been with them for a long time and they have pretty high volume. There certainly are others but, yeah, I think the best way to choose is to look at the ones with the highest volume trades and to look up security reviews.
Wow ripple sure did shoot up today. Anyone know anything about Tron? Apparently that's the next cheap crypto currency people think might go up. It's only a cent right now
There are literally hundreds, if not thousands, of forked/spin-off coins. If BTC is a hype-bubble, believe me, any sub-crypto that's new and trading for "cents" is almost 100% riding on the hope of hype. I've been trading this stuff for over 5 years and had a lot of success.
Back in my hay-day, my rules for investing in ICOs (which back then there were only 2-3 a year) was simple-- look for projects that are new, fresh and truly innovating the space. This worked out well. My first that I got in right after an ico was Nxt. It did well and made a good bit for me. After Nxt, I stuck to trading on sites like Cryptsy (which was hacked and failed) BTER (only because I had to for some currencies) and now Poloniex.
I will tell you this. In this market, remain very cautious and skeptical of everything. Your skepticism may make you miss the "next big thing" but if you educate yourself and do your best to make wise decisions, you'll probably only make choices that will make you more... BTC. I'd say profit but the fact is, even with Ethereum, the fiat value of all of these currencies rides with BTC. It's not a perfect 1-1- ratio and values do fluctuate. However, if you invest in promising-coin-x, and bitcoin does 90% crash tomorrow, people may still "love" your new coin but it will still see a 60-80% fall in price when BTC crashes.
I'm personally out of BTC for now. I cashed out my funds a couple days ago and I'm holding USD. Charts seems a bit top-heavy when you look at the orderbooks. But, BTC is always full of surprises and I am even in the camp that feels like it could still reach $40-50,000... some day. But, I think that day may be years away. Whether it happens around $18k... $20k or even $25k, I think there's about to be another correction. I could easily be wrong though. My crystal ball isn't as accurate as it use to be back when BTC was trading for less than $1,000 and there weren't as many factors at play.
Which exchanges would you recommend for the cheaper, not-so-popular cryptos? Which ones are safe to use? I'm considering buying some XRP, Monero, and maybe a few others, but haven't looked into other exchanges much yet, and I hear a few are possibly shady exchanges.
You should first go to www.coinmarketcap.com from there select the coin you want to buy, go down near the chart and you will notice something directly above it that says "markets." I have attached a file here for you to see that. There you will be able to find where you can buy/sell/trade that particular coin. Note that some of the smaller ones won't accept USD. You will have to buy a big cryptocurrency first and then be able to exchange. Usually the most accepted ones are Bitcoin and Ethereum.
I understand the risks. Not investing much. I missed the boat on all the more expensive stuff so I'm looking at the cheaper stuff now. Already made a little from the ripple spike. Now I'm trying my luck on the Tron Train. All aboarddddddddd! Haha this is quite the fun ride. I'm hoping Tron cracks 2 cents tonight. It's very close right now.
Looks like you're doing well for yourself on that. Cardano has just come out of nowhere too lately.
Wow ripple sure did shoot up today. Anyone know anything about Tron? Apparently that's the next cheap crypto currency people think might go up. It's only a cent right now
There are literally hundreds, if not thousands, of forked/spin-off coins. If BTC is a hype-bubble, believe me, any sub-crypto that's new and trading for "cents" is almost 100% riding on the hope of hype. I've been trading this stuff for over 5 years and had a lot of success.
Back in my hay-day, my rules for investing in ICOs (which back then there were only 2-3 a year) was simple-- look for projects that are new, fresh and truly innovating the space. This worked out well. My first that I got in right after an ico was Nxt. It did well and made a good bit for me. After Nxt, I stuck to trading on sites like Cryptsy (which was hacked and failed) BTER (only because I had to for some currencies) and now Poloniex.
I will tell you this. In this market, remain very cautious and skeptical of everything. Your skepticism may make you miss the "next big thing" but if you educate yourself and do your best to make wise decisions, you'll probably only make choices that will make you more... BTC. I'd say profit but the fact is, even with Ethereum, the fiat value of all of these currencies rides with BTC. It's not a perfect 1-1- ratio and values do fluctuate. However, if you invest in promising-coin-x, and bitcoin does 90% crash tomorrow, people may still "love" your new coin but it will still see a 60-80% fall in price when BTC crashes.
I'm personally out of BTC for now. I cashed out my funds a couple days ago and I'm holding USD. Charts seems a bit top-heavy when you look at the orderbooks. But, BTC is always full of surprises and I am even in the camp that feels like it could still reach $40-50,000... some day. But, I think that day may be years away. Whether it happens around $18k... $20k or even $25k, I think there's about to be another correction. I could easily be wrong though. My crystal ball isn't as accurate as it use to be back when BTC was trading for less than $1,000 and there weren't as many factors at play.
Which exchanges would you recommend for the cheaper, not-so-popular cryptos? Which ones are safe to use? I'm considering buying some XRP, Monero, and maybe a few others, but haven't looked into other exchanges much yet, and I hear a few are possibly shady exchanges.
You should first go to www.coinmarketcap.com... from there select the coin you want to buy, go down near the chart and you will notice something directly above it that says "markets." I have attached a file here for you to see that. There you will be able to find where you can buy/sell/trade that particular coin. Note that some of the smaller ones won't accept USD. You will have to buy a big cryptocurrency first and then be able to exchange. Usually the most accepted ones are Bitcoin and Ethereum.
Thanks, according to every alt coin I want to buy, I'm going to use Bittrex. Sign ups are currently down though because of high traffic, lol. At least I know what exchange I want to use.
This is a question for those of you who have follows cryptos for many years. When bitcoin has taken a major hit in the past have other smaller cryptos gone down with it?
Depends on how you look at it. If you are trading in BTC, the reaction has been mixed. Some cryptos skyrocket while others have fallen with it. However, if you are looking at their fiat value, then generally they all go down. This makes sense because 95% of every crypto pump has come from BTC excitement. If BTC crashes, everything else crashes by attrition.
This is a question for those of you who have follows cryptos for many years. When bitcoin has taken a major hit in the past have other smaller cryptos gone down with it?
In real money, yes, they all have pretty high correlation to Bitcoin.
Bitcoin Cash just got added to GDAX and people are pumping the shit out of it.
Not sure how far it'll dip, but it's low enough that I'm considering grabbing a bit.
I have too much money in other places right now so didn't pick up anymore coin but hopefully others took advantage of the panic caused by BCH getting introduced to GDAX.
Bitcoin Cash really messed with the other coins yesterday, much more fluctuation than what I was expecting. It looks to be rebounding now, but that panic surely caused a quick drop.
I don't think it was panic so much as it was a result of insider trading. Money started moving towards BCH HARD right before GDAX announced that it would be including it on the exchange. I'm assuming a lot of people in the know shifted money from BTC, LTC, ETH, etc, to BCH knowing there would be a huge spike. The other coins dipped as BCH shot up.
Coinbase Tweeted out that there was no insider knowlege ahead of BCH going live on the exchange, but that's a load of bullshit IMO.
I understand the risks. Not investing much. I missed the boat on all the more expensive stuff so I'm looking at the cheaper stuff now. Already made a little from the ripple spike. Now I'm trying my luck on the Tron Train. All aboarddddddddd! Haha this is quite the fun ride. I'm hoping Tron cracks 2 cents tonight. It's very close right now.
Looks like you're doing well for yourself on that. Cardano has just come out of nowhere too lately.
Yep Tron has been doing pretty well lately. Here's to hoping it stays above 5 cents for a little longer than the last time it cracked 5. The cheaper ones are taking off. Just look at Verge