crypto for beginners

Discussion in 'Digital Currencies' started by Reeve, Nov 28, 2017.

  1. southerncross

    southerncross Well-Known Member Silver Stacker

    Joined:
    Jul 26, 2012
    Messages:
    3,686
    Likes Received:
    365
    Trophy Points:
    83
    Location:
    All in your mind
    https://www.reddit.com/r/ethtrader/comments/6j2bkc/upcoming_1_year_uncapped_eos_ico_fine_print/
     
  2. Silverman99

    Silverman99 Well-Known Member Silver Stacker

    Joined:
    Sep 27, 2011
    Messages:
    2,007
    Likes Received:
    827
    Trophy Points:
    113
    Location:
    Auckland New Zealand
    Yes I have read that and would have to be alert for when the tokens must be claimed with is around June 2018 - worth a punt I think medium to long term given a few months back they were 70c as quoted by yourself and now knock on $4 a token
     
  3. JNS

    JNS Active Member Silver Stacker

    Joined:
    Oct 8, 2015
    Messages:
    500
    Likes Received:
    133
    Trophy Points:
    43
    Location:
    Traveller, Lives in hotel
    Started using exodus, it looks handy to me but bit afraid to load more BTC and ETH, i started consolidating my funds from other wallets towards exodus. May i know more an advance opinion regarding this wallet. I am beginner on this thing:), started reading all crypt coins on associated links initially on the wallet but it turns to be a nose bleed. Thank you in advance for the quick guidance.
     
  4. southerncross

    southerncross Well-Known Member Silver Stacker

    Joined:
    Jul 26, 2012
    Messages:
    3,686
    Likes Received:
    365
    Trophy Points:
    83
    Location:
    All in your mind
    What do you need to know specifically ? As long as you keep your password and private key secure security should not be a problem with exodus.
     
    JNS likes this.
  5. JNS

    JNS Active Member Silver Stacker

    Joined:
    Oct 8, 2015
    Messages:
    500
    Likes Received:
    133
    Trophy Points:
    43
    Location:
    Traveller, Lives in hotel
    If i invest in some tokens or coins and suddenly it was taken out or hidden out in the exodus wallet eg. Dogecoin which they stopped trading now, is there any possibility to lost the fund or become useless at all. Actually i was thinking to exchange my BTC to various tokens. Presently, i am only with ETH/BTC in Exodus. I want to buy some coins and leave it for some time. Either trade or sell backwards to BTC if profitable. I know, i should not leave big amount which can cripple finances incase went wrong.

    Sorry for my newbie question but most of the wallet i found have many negative issue. Binance, Exodus and our local BTC wallet i am using right now.
    My local BTC wallet charge high commission but it was the safest for me right now in cash-ing in/out my BTC to either Bank or ATMs.

    I used RACK, Freewallet before but some of them have minor issues which i can not withdraw sometimes if i need to.
     
    Last edited: Dec 5, 2017
  6. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    12,102
    Likes Received:
    3,877
    Trophy Points:
    113
    I am not sure if a powerful magnet will destroy the encryption, may be someone in the field can explain better
     
  7. southerncross

    southerncross Well-Known Member Silver Stacker

    Joined:
    Jul 26, 2012
    Messages:
    3,686
    Likes Received:
    365
    Trophy Points:
    83
    Location:
    All in your mind
    There are plenty of wallet's available for free that you can use which are also safe to use as well, Myetherwallet, Coinomi, etc. both can hold and store many multiple Crypto's , Exodus is not your only choice.

    Exchanges exist because they make money from you, this is just a fact of life and something you need to adjust to and research and prepare for. Unfortunately there is no way out of paying fee's when you enter into such realm's. It is just a cost of doing business with them just as exchanging Crypto's in Exodus.

    Bitcoin cost's a huge amount to transfer or send anywhere compared to many other Crypto's, it is also high priced when using it on an exchange as well, so, maybe use LTC or ETH instead to cut cost's there instead.

    Binance has minimal fees if you hold some Binance on the exchange to use for fee's, LTC and ETH are also much cheaper to use when transferring funds too, so just convert to those which are cheaper to use when doing transfers to your wallets, and then sit and hold until the cost's come down relative to what you want to hold.
    BTC seem's intent on charging as much as it can, which in the end will be it's demise among'st the average user... So move on to Crypto like ETH and LTC instead when using trading platforms.

    It is easy enough to time your trades up to BTC when the comparative price gap between, LTC, ETH, etc occurs. Never rush, all of these crypto's cycle through up's and downs all the time, crashes occur with great frequency, but the momentum is nearly always to the upside over time.

    Give this a bit of thought.........., out of 7+ Billion people on the planet right now, you are 'one' of only about three million that are aware of or are involved in Crypto right now.
    What happens when just a hundred million out of that 7 billion get on board the Crypto experiment, and why are the banks and Fiat exchanges scrambling to catch up right now ?

    Learn all you can while the rest of the population is just discovering and finding out about it, get ahead of the curve, research, research and research all you can, What is Blockchain for a start ? Do you know what it is ?

    Get educated about what it actually is, and what the differences are between the different Blockchain alternatives.


    How does Iota differ from Ethereum, Litecion from Bitcoin, Eos from Veritasium ? Learn about all this 'BEFORE' you put a single cent into any of it first.
    If you don't then you are just gambling your money away.

    It only takes a little while of your time to get a grasp of it all, and then a few hours more before your mind is blown wide open by the potential of it all.

    And then just a few minutes before you are ready to blow your life savings on the newest ICO or the latest hottest Crypto on Coinmarketcap.

    Only to see it plummet by 200% in a week and wipe out all of your 'so called investment' .....

    Shit happens, every week, time after time after time.

    There are fortunes ready to be made, but people need to do their own research on it all, the whole lot from go to Woe.

    At least 95% of all current crypto's will fail or be shut down by .Gov.com, Enter at your own Risk!
     
    whay, precious roar, StewyD32 and 2 others like this.
  8. JNS

    JNS Active Member Silver Stacker

    Joined:
    Oct 8, 2015
    Messages:
    500
    Likes Received:
    133
    Trophy Points:
    43
    Location:
    Traveller, Lives in hotel
    Thank you for the information and motivation @southerncross, i will take them and do more research and give deeper thought.
     
  9. southerncross

    southerncross Well-Known Member Silver Stacker

    Joined:
    Jul 26, 2012
    Messages:
    3,686
    Likes Received:
    365
    Trophy Points:
    83
    Location:
    All in your mind
    Hey JNS feel free to Private message me if you have any problems, I'm always happy to help people new to Crypto.
     
    metalzzz and JNS like this.
  10. JNS

    JNS Active Member Silver Stacker

    Joined:
    Oct 8, 2015
    Messages:
    500
    Likes Received:
    133
    Trophy Points:
    43
    Location:
    Traveller, Lives in hotel
    Thank you again, I appreciate it very much.
     
  11. switchtronics

    switchtronics Active Member

    Joined:
    Dec 16, 2011
    Messages:
    929
    Likes Received:
    109
    Trophy Points:
    43
    Location:
    Sunshine Coast
    Thanks southern much appreciated
     
    Brad_886 likes this.

Share This Page