Need your comments,, _ bitcoinbeginners bitcoin exchange company

I’m just a graduate student and have been living paycheck to paycheck for last two years and most of the time my bank account goes negative. My wife moved to live with her parents so we kind of save something, and plus she is not able to work,,,, I have heard about cryptocurrency from my friend who made about 2k since he started last month. My goal is not to make 2k a month. I honestly want to be able to pay some bills like electricity , phone and possibly some medical bills coz man… That would be really really good.

Anyways long story short, I opened a coinbase account and have been following the market for last two days. Seeing the market fluctuating like crazy I don’t know if I should start at all..? Is the price of bitcoin going to rise again or it’s just not as legit as it sounds?

My plan is to buy let’s say $100-$200 worth of a bitcoins or litecoin and transfer them to, I don’t know, binance or bitstamp (or I don’t know what I good for starters) and start trading there but I don’t know what coins to buy and how much to spend on which…Bitcoin exchange company to my understanding the price of small or new coins depends on the price of bitcoin,, I don’t know I could be wrong…. At this point, apart from my friend’s advices, I also need other advices and hear your experience , I don’t think I am going to spend money before I understand what to do exactly.

If you read this, please know that an upvote at least will really help.

Thank you,

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Do lots of research. You’re basically asking how can I become a good investor which is an entire career’s worth of knowledge, but crypto isn’t like traditional investing or day trading.

If you want to start day trading with crypto, you’ll need to try to learn about how to look for signals that tell you a coin’s value will jump up. That requires a decent understanding of how they work along with learning more about specific altcoins so you know what they’re working on and why they might become more valuable.Bitcoin exchange company

Find places to follow crypto news so you can stay up to date on the latest trends and upcoming changes. Look back in time to see what causes sudden changes, like this recent BCH thing and the spiking/dropping in prices we’ve seen in many coins.

Be careful. There are some exchanges out there where people have been running into problems. Right now there are delays with getting verified or delays in being able to make trades or something else.

Trading crypto is a relatively new idea. You won’t find a day-trading with crypto 101 guide that gives you everything you need to get started with low risk. It’s a high risk world to play in and you need to be ready to never see any dollar you spend on it, because if you bet more than you can afford and wind up losing it or not recovering it in a timely fashion, you fucked yourself like lots of other people do.Bitcoin exchange company be patient. It could take weeks or months before you think you might have the first inkling of an idea for how it might work. Don’t be reckless or impulsive, and most importantly don’t fret over every price change.

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I started very recently myself, but I would say the following (most has been covered already):

1) don’t invest more than you can afford to lose. Golden rule.

2) especially if day training (which seems to be your idea), it is quite easy to be carried away, investing more than planned or making trading decisions without due rational consideration.

3) given your situation (small ‘investment’), researching on fees might be crucial. They are insanely high on transactions right now (BTC). Plus, there are deposit/withdrawal/transaction fees on exchanges.Bitcoin exchange company remember to check minimums too! (tbh, I don’t know how any of this is on coinbase though) I trade very small amounts too. It can be very frustrating, sometimes made pointless or very time-consuming by fees/minimums.

4) you earned nothing until you sell back to fiat (this seems to be the case at least if we’re talking short-term trading/gains, which seems to be what you’re after).

In a very short time, I went from (badly) timing the market to time in the market. Still figuring out a portfolio, then the plan is to put in what I can every X time, and hold, with little variations. I doubt this approach would fit what led you to entertain the possibility to start in the first place.

Tl;dr my two cents: probably not worth it given what you seem to be looking for. But hey, responsibility is yours, not of randos on reddit

bitcoin exchange company

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I’m just a graduate student and have been living paycheck to paycheck for last two years and most of the time my bank account goes negative. My wife moved to live with her parents so we kind of save something, and plus she is not able to work,,,, I have heard about cryptocurrency from my friend who made about 2k since he started last month. My goal is not to make 2k a month. I honestly want to be able to pay some bills like electricity , phone and possibly some medical bills coz man… That would be really really good.

Anyways long story short, I opened a coinbase account and have been following the market for last two days. Seeing the market fluctuating like crazy I don’t know if I should start at all..? Is the price of bitcoin going to rise again or it’s just not as legit as it sounds?Bitcoin exchange company my plan is to buy let’s say $100-$200 worth of a bitcoins or litecoin and transfer them to, I don’t know, binance or bitstamp (or I don’t know what I good for starters) and start trading there but I don’t know what coins to buy and how much to spend on which… To my understanding the price of small or new coins depends on the price of bitcoin,, I don’t know I could be wrong…. At this point, apart from my friend’s advices, I also need other advices and hear your experience , I don’t think I am going to spend money before I understand what to do exactly.

If you read this, please know that an upvote at least will really help.

Thank you,

• 17 comments

• share

• save

• hide

• report

Do lots of research. You’re basically asking how can I become a good investor which is an entire career’s worth of knowledge, but crypto isn’t like traditional investing or day trading.Bitcoin exchange company

If you want to start day trading with crypto, you’ll need to try to learn about how to look for signals that tell you a coin’s value will jump up. That requires a decent understanding of how they work along with learning more about specific altcoins so you know what they’re working on and why they might become more valuable.

Find places to follow crypto news so you can stay up to date on the latest trends and upcoming changes. Look back in time to see what causes sudden changes, like this recent BCH thing and the spiking/dropping in prices we’ve seen in many coins.

Be careful. There are some exchanges out there where people have been running into problems. Right now there are delays with getting verified or delays in being able to make trades or something else.

Trading crypto is a relatively new idea.Bitcoin exchange company you won’t find a day-trading with crypto 101 guide that gives you everything you need to get started with low risk. It’s a high risk world to play in and you need to be ready to never see any dollar you spend on it, because if you bet more than you can afford and wind up losing it or not recovering it in a timely fashion, you fucked yourself like lots of other people do. Be patient. It could take weeks or months before you think you might have the first inkling of an idea for how it might work. Don’t be reckless or impulsive, and most importantly don’t fret over every price change.

• permalink

• embed

• save

• parent

• report

• give gold

• reply

I started very recently myself, but I would say the following (most has been covered already):

1) don’t invest more than you can afford to lose. Golden rule.Bitcoin exchange company

2) especially if day training (which seems to be your idea), it is quite easy to be carried away, investing more than planned or making trading decisions without due rational consideration.

3) given your situation (small ‘investment’), researching on fees might be crucial. They are insanely high on transactions right now (BTC). Plus, there are deposit/withdrawal/transaction fees on exchanges. Remember to check minimums too! (tbh, I don’t know how any of this is on coinbase though) I trade very small amounts too. It can be very frustrating, sometimes made pointless or very time-consuming by fees/minimums.

4) you earned nothing until you sell back to fiat (this seems to be the case at least if we’re talking short-term trading/gains, which seems to be what you’re after).

In a very short time, I went from (badly) timing the market to time in the market.Bitcoin exchange company still figuring out a portfolio, then the plan is to put in what I can every X time, and hold, with little variations. I doubt this approach would fit what led you to entertain the possibility to start in the first place.

Tl;dr my two cents: probably not worth it given what you seem to be looking for. But hey, responsibility is yours, not of randos on reddit

EDIT formatting

• permalink

• embed

• save

• report

• give gold

• reply