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Where to buy crypto$ ??

Old 02-10-2018, 09:31 AM
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REZ
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Default Where to buy crypto$ ??

I cant take it anymore and I want to get in on the crypto currency craze !!
I'm looking for some ripple, lite coin and ethereum. I looked into Binance and coin base but after reading the terms of service I'm a bit leery. I guess I should setup a bank account with a few K in it to start? The verification process seems odd and drawn out til you can actually buy something. Also where do you "store" your $$. I saw a thumb drive type bank and other webased E banks. What are the actual fees these places charge to buy sell store?
What about doing a crypto IRA ?? I need some real world help from the pros here that have done this before. I'm watching shares double and triple daily and don't want to miss out as I'm a big procrastinator and it's been hard for me to jump in the pool so,to,say.
Old 02-10-2018, 03:47 PM
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I set up a new bank account and used it to fund a Coinbase account. I purchased Bitcoin on Coinbase and then used it to buy alt coins on Poloniex. I transfer $ back to my cash wallet on Coinbase and also back my bank account, to cash out profit or escape volatility. It took me about 10 days to get set up.
Old 02-10-2018, 03:53 PM
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Tax laws have changed. Profit between crypto currency is taxable.


https://www.bna.com/bitcoin-cryptocu...-n73014473385/
Old 02-10-2018, 05:00 PM
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Of course the IRS wants their cut there's lotsa tax dollars to be made.
Old 02-10-2018, 05:05 PM
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I have a friend that started a crypto investment company
That's way more liability than I would ever want to take on
Old 02-11-2018, 06:58 AM
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plenty of existing threads here on the topic
Old 02-13-2018, 08:29 AM
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Originally Posted by REZ View Post
I cant take it anymore and I want to get in on the crypto currency craze !!
I'm looking for some ripple, lite coin and ethereum. I looked into Binance and coin base but after reading the terms of service I'm a bit leery. I guess I should setup a bank account with a few K in it to start? The verification process seems odd and drawn out til you can actually buy something. Also where do you "store" your $$. I saw a thumb drive type bank and other webased E banks. What are the actual fees these places charge to buy sell store?
What about doing a crypto IRA ?? I need some real world help from the pros here that have done this before. I'm watching shares double and triple daily and don't want to miss out as I'm a big procrastinator and it's been hard for me to jump in the pool so,to,say.
1. You assumption entering this should be that you are absolutely going to lose your money. You did see that BTC crashed from nearly $20k to just over $8k? Ripple is down. Ethereum is going to go next.

2. You are very, very late to the game and will probably lose all of your money.

3. You have neither the technical understanding of the commodity, or how to safeguard it while it is in your possession to safely invest. You will lose your money.

If you really, really understand all of that. Really understand that, then go open accounts on Coinbase (for BTC and ETH) and Bittrex (everything else). Fund those accounts and go to town.

Good luck.

P.S. You will lose all your money.
Old 02-13-2018, 08:35 AM
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Here's a better idea: gather some football-sized stones and place them in a 3' circle; gather some dry wood; place your cash in the middle of said fire pit (crinkling the bills increases surface area); advance incendiary device toward bills and then place wood as fire builds. Sit back and enjoy the warmth.
Old 02-13-2018, 08:46 AM
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Very risky but if you must.

Use Coinbase to get USD into BTC, LTC or ETH
Use Binance to use BTC to XRP

Get a Nano Ledger S to Keep your coins off the Exchanges.

https://cloudblogs.microsoft.com/ent...-as-we-see-it/
Old 02-13-2018, 09:05 AM
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I understand the North Koreans have a bunch they might want to sell.
Old 02-13-2018, 11:39 AM
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Sometimes being late to the game has it's advantages. I'm not too worried about losing a few grand, I,lose the same with stocks and my 401k. I was just looking for some help and insight from the few here that have done this before.
Old 02-13-2018, 12:43 PM
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Originally Posted by REZ View Post
Sometimes being late to the game has it's advantages. I'm not too worried about losing a few grand, I,lose the same with stocks and my 401k. I was just looking for some help and insight from the few here that have done this before.
Feel free to wire a few grand to me instead. It's fast and easy and almost like real crypto!
Old 02-14-2018, 02:41 AM
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Originally Posted by GH02050 View Post
I set up a new bank account and used it to fund a Coinbase account. I purchased Bitcoin on Coinbase and then used it to buy alt coins on Poloniex. I transfer $ back to my cash wallet on Coinbase and also back my bank account, to cash out profit or escape volatility. It took me about 10 days to get set up.
This works well for me. Kraken takes forever and support is a joke. Throw in shapeshifter as another source that works well for me.

Coinbase Buy prices are a bit higher, but overall this method is about the easiest way I have found.
Old 02-14-2018, 06:32 AM
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Buy GBTC (an ETF).
Old 02-14-2018, 12:24 PM
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Originally Posted by Fish Haid View Post
Buy GBTC (an ETF).

I read a few post Russ posted about GBTC and bought in at around 10 bucks a share a few weeks back....Im up over 10K today with a trail stop I won't lose out on a drop....made up for some other loses from last week's drop...
Old 02-14-2018, 12:59 PM
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Originally Posted by Weekend-Hooker View Post
I read a few post Russ posted about GBTC and bought in at around 10 bucks a share a few weeks back....Im up over 10K today with a trail stop I won't lose out on a drop....made up for some other loses from last week's drop...
Wait but I thought investing in Cryptos was like burning money, like throwing it into the ocean and so on. Profits you say, I can not believe this, it is not real, pyramid scheme, blah blah blah...

Good for you now takes some of your profit and invest in the little coins. If you guess right in 5 or ten years you could be very happy. If you guess wrong, it was free money to begin with

nothing to see here, look away, this is not real
Old 02-15-2018, 06:49 AM
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Originally Posted by Weekend-Hooker View Post
I read a few post Russ posted about GBTC and bought in at around 10 bucks a share a few weeks back....Im up over 10K today with a trail stop I won't lose out on a drop....made up for some other loses from last week's drop...
Russ had some excellent timing. You managed to buy it at the 3 month min.

It was at 10 and is at 17, and you've made 10k so you bought 1,400 shares give or take.

So you put $14,000 in.

Hey - if you had bought a week earlier you'd be down $1,500.

It's short term crapshoot.

Good on you for making money, but that was about as lucky a move as you can nail.
Old 02-15-2018, 07:20 AM
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dont let the people that dont understand it tell you otherwise. I have done well in cryptos. You can make instant buy and sells on GDAX which is a website related to coinbase. Coinbase is prolly the easiest to use. however it takes a few days to actually receive your coins to be able to sell. so take that into consideration.
good luck
Old 02-15-2018, 07:24 AM
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the haters that post on cryptos are quite funny. someone ask a how to question and they respond why not to do it because they are scared or don't understand it. pretty funny.


coinbase is the start. get setup there and can go from there.
Old 02-15-2018, 07:57 AM
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Originally Posted by johnboy114 View Post
the haters that post on cryptos are quite funny. someone ask a how to question and they respond why not to do it because they are scared or don't understand it. pretty funny.


coinbase is the start. get setup there and can go from there.
People caution other people way from the crypto market because 1) it is probably the single most volatile market out there right now, with absolutely nothing to rely on for fundamental price justification and 2) it is easily accessible by the average person.

There are some plenty of other commodities that are similarly volatile, I'm sure, but the average person (much less average investor) has no idea what they are and would have no way to actually invest in them.

I understand how to do it (and gave the OP advice on how to do so). I also recognize that you are far, far more likely to lose money in the long run than make money.

If someone is so clueless as to how to accomplish something like this (like I have been in countless other threads I've started) then I think there is an obligation to warn them of the risks they may unwittingly be taking on.

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