Help needed to get started with C.C.

silverbait

silverbait

Active Member
Silver Stacker
Hello stackers

As the hype gets even hotter and bigger I want to invest few bucks in Crypto. I wonder if any Sydney Stackers available for few advice and tips at all?
I need to find out best way to buy coins and there may be few ways to do it the most efficient way.
Also I guess I need to buy hardware wallet to keep coins somehow safely...
Any particular accounts I need to look at and avoid would be really helpful.

Times are changing and looks like quicker I act and get into crypto better.

Any help from a fellow Sydney Stacker will be highly appreciated.

I would be happy to shout you a lunch!

Regards

Denis
 
I'm still a noob but I think your best bet to start is btc market as with storing them you need to be in control of the private keys

I use Jaxx and I'm token, if you have a lot of crypto then I suggest you get a hard wallet

Get ready for a wild really stressful ride
 
There's no need to go overboard on Day 1 - a little gentle toe-dipping will get you up to speed on the mechanics.

The first bottleneck is getting fiat into crypto. You can either pick a commercial outfit, or look on the trading thread for someone prepared to trade crypto for dollars.

Then decide which coin to pick. To be honest, unless you already have a penchant for Ether, or want to get into Neo, BTC is the universal solvent, so I suggest Bitcoin.

Now pick a wallet. You don't need a hardware wallet on Day One - just be sensible with backups and security, and make sure you have a regular trojan scan. If you feel it is likely you will be playing with multiple coins, a wallet such as Exodus may be a good start (it displays the wallet value in $US). Pick a passphrase you will remember if you leave your computer and live on a desert island for five years. You don't want to know the number of early-adopter wallets that remain unopened because the password is lost in the mists.

Now pick a toe-dipping number of dollars, peruse the charts and try to pick a low, and send it to the faucet/stacker of your choice with your wallet address. Hopefully you will soon see some crypto, and you can get to know the rules of the jungle without risking your life savings.
 
Guys thank you for your advice!
I will follow few recommended steps.
Well I wont be spending/investing all my savings on cryptocurrency. Even though there is a huge temptation to go all in :)

I am watching few videos and learning the cryptocurrency terminology.

Many thanks
 
go 80% in bitcoin and 20% more speculative perhaps? sticking to 20 biggest coins but trading them on an exchange is way to increase your holdings.
 
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