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Shingen

Who likes Bitcoin?

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So is there anyone who is getting to cryptocurrancies? Bitcoin, Etherium. Litecoin, ect?

I've been in the space for a few months now, and overall it's been both good and bad.

I'm interested in what ya'll think.

Have you made any money? Lost money? 

Day trade or HODL?

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It's interesting, but I don't know much about it.

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I got into it about Nov 2017, when BTC was at around $20k USD, Then, over the next few months the price plummeted to it's current price of $8400 USD, so it's definitely not for the feint of heart. I started with about $500 USD and have turned that into about $2500 over several months. Still, I like it because you can get into the markets with a relatively small investment, however - the crypto space is not currently regulated so it's buyer beware.

I currently hold Bitcoin (BTC),  Ethereum (ETH). Litecon (LTC), and Cardano (ADA).

I've been day trading the other alt to BTC tokens and doing pretty good. There is a lot to learn. But I like that aspect of it as well.

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I've been meaning to look into it, just haven't had the chance yet.  Do you have any good sites that go over it in "Layman's" terms?

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Depends on what you want to know about it, tbh. 

Basically the fundamental technology (blockchain) behind it all allows these coins to act as highly decentralized digital ledgers, among other things. That's just the simple version, as a bit more goes behind the scenes (the coins need to be "mined" by solving algorithms, and etc.) Very applicable to the real world and digital processes. It's highly probable that fiats will be replaced by some forms of cryptocurrency in the future.  Right now we're in the development phase of the blockchain space- you can think of it as the internet of the early days. 

The markets are a different story. They are all online, open 24/7, and provide much higher volatility than traditional markets such as stocks. You trade at your peril. If you can do basic technical analysis, don't panic trade, and keep up with the news then it's not hard to make some profit. It's something you have to put a bit of your time into, especially when starting out. 

Simple explanation of bitcoin: https://www.coindesk.com/bitcoin-explained-five-year-old/

How to get into it (you may have to scroll down a bit - heavy reading involved): https://medium.com/@kaleazy/10-step-guide-for-day-trading-bitcoin-ethereum-and-litecoin-79123673957c

Basically open up an account on coinbase, buy bitcoin/litecoin/ethereum there, and then make an account on an exchange such as binance or bittrex, and withdraw your bitcoin from coinbase to an exchange. Once there, you can start trading between a variety of different cryptocurrencies. 

 

 

Shingen, if you have a discord, a buddy and I opened up a trading chat. We basically share charts and provide forecasts when we have the time. Feel free to hop in; https://discord.gg/5QsR4XG

 

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Interesting info there, canshow!  Thanks for sharing!

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I personally wouldn't advise Coinbase.com as a gateway to Fiat/Crypto conversion site. I've had too many issues with Coinbase, and I have started using Gemini. 

That being said, it all still really new, so opinions vary.

Canshow - good hearing from you! Long time no chat! I will definitely check out that discord server. 

I trade cryptos daily, but I also have a traditional job, and I'm hoping to move out of that into cryptos full time.

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Just another caveat here: be careful which exchanges you use. Some are better that others. Also, if you are not currently trading an asset, DO NOT store those assets on exchanges!! Store them on either a paper wallet, a desktop software wallet, or a hard (cold) wallet. A hard wallet is a USB device that stores crypto coins offline!

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