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Beginners Guide to Crypto Gambing/Investing


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JoeDavola

I've created the title but I'm hoping one or several of you lot can provide the details for newbies who fancy a punt.

(I am firmly in the camp that this is gambling and should be treated as such.)

So basically:

- where do you buy your coins (I'm assuming the answer is coinbase - but aren't there other places to get them before they are 'listed' on coinbase)?

- where do you look for news as to what to bet/invest in

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nirvana
Posted (edited)

coinbase PRO, which is different to coinbase 'normal'....coinbase bought em out and rebranded

binance (for BSC and binance smart wallet) and kucoin

currently using BSC plugin and metamask......I bought elonsperm using pancake swap and they promptly never appeared in my wallet :S

Once you have over 10k in coinbase Pro they think you're important lol and prompt you to use a whitelist so the baddies can't nick your stash apparently

No hardware wallets at the mo....have fuckin long passwords using KeepassXC :P

I'm new to this too so any critique on my approach go for it :)

ooh yeah news, twitter.....watch some youtube vids and wondering what shite my daughter is gonna buy next which is why I had to get involved....actually glad I did......enjoyin the ride so far...

oh yeah I bought a load of Argo Blockchain in a SIPP too so that might be classed as cheating but meh......and I've got my eye on Microstrategy....

Edited by nirvana
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goldbug9999
Posted (edited)

For european users Etoro is a good place to start, easy interface and easy to fund (can send money to us using paypal). Buy-sell spreads are shite though so not suitable for frequent trading (which is possibly a bonus for a beginner). Because its a general investment thing it doesn't trigger any crypto alerts from your bank.

My favourite "proper" exchange is Bitstamp.

Both these outfits have a fairly limited selection of coins so you want deep dive into shitcoinery the Binance is your best bet.

In terms of what to invest in it depends on your risk profile:

low: bitcoin (with a sprinkle of ethereum for bonus points)

medium: above plus other things in the top 20 (see link below) or so coins.

High: all the rest of the shite.

This site in valuable a as one stop info source https://coinmarketcap.com/

I wouldn't worry about having your own wallets to store until you've got holding in the high 5 figure range.

Edited by goldbug9999
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nirvana
Posted (edited)
41 minutes ago, goldbug9999 said:

Bitstamp

cool am signing up and setup 2FA for google which was probs well overdue even though I dislike the cunts now but I was an early adopter lol

Annnnddd I'm verified, quick!

How the feck do I type a complicated password into the app on my mobile that contains extended ASCII characters??? O.o

Edited by nirvana
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Loki
8 hours ago, nirvana said:

I bought elonsperm using pancake swap

And I thought conventional finance was full of word salad :P

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nirvana
2 minutes ago, Loki said:

And I thought conventional finance was full of word salad :P

I love these funky words, I've always liked TLAs......I think I'm a bit weird really xD

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Green Devil
1 hour ago, Loki said:

And I thought conventional finance was full of word salad :P

DYOR :CryBaby:

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goldbug9999
13 hours ago, nirvana said:

cool am signing up and setup 2FA for google which was probs well overdue even though I dislike the cunts now but I was an early adopter lol

Annnnddd I'm verified, quick!

How the feck do I type a complicated password into the app on my mobile that contains extended ASCII characters??? O.o

I'm sorry but what sort of knob uses a phone to do any sort of financial dealing - we have these things called "computers" now - you might want to get one.

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Harley
14 hours ago, goldbug9999 said:

I wouldn't worry about having your own wallets to store until you've got holding in the high 5 figure range.

I wish I hadn't wasted time on the wallets before having a nibble.

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Harley
31 minutes ago, goldbug9999 said:

I'm sorry but what sort of knob uses a phone to do any sort of financial dealing - we have these things called "computers" now - you might want to get one.

I find the apps better to use and seem to get more $development but only for basic stuff.  Security on a phone must be a concern though. 

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nirvana
1 hour ago, goldbug9999 said:

I'm sorry but what sort of knob uses a phone to do any sort of financial dealing - we have these things called "computers" now - you might want to get one.

dude you're preaching to an IT knob here on arch linux :P AND I know you're an IT nutter too which is why I pay close attention to what you say.....

And I realise these cunts are pushing us all down the 'app path'....look I can't get around it, I have to use the app to validate the 2FA....maybe I'll try not using the 2FA but methinks it's importanty in cryptoland

 

Screenshot_2021-05-27_12-53-52.png

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goldbug9999
5 hours ago, nirvana said:

dude you're preaching to an IT knob here on arch linux :P AND I know you're an IT nutter too which is why I pay close attention to what you say.....

And I realise these cunts are pushing us all down the 'app path'....look I can't get around it, I have to use the app to validate the 2FA....maybe I'll try not using the 2FA but methinks it's importanty in cryptoland

 

Screenshot_2021-05-27_12-53-52.png

I thought you meant the exchange app, not google auth itself - so where does this strong password malarkey come in then ?

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nirvana
Posted (edited)
17 hours ago, goldbug9999 said:

I thought you meant the exchange app, not google auth itself - so where does this strong password malarkey come in then ?

the strong password is my own doing, i use KeePassXC to generate and store passwords....

the 2FA is something they are forcing now! I get this message 'The final step is to secure your account'

then I get the screen as I posted above O.o

I'VE GOT IT I'VE GOT IT LOL

I thought the app they were on about was the bitstamp app but it's the 'google authenticator' app which is quite cool cos it scans QR codes

Soz for being a noob nob :P hopefully this will help other noobs who need not be a nob B|

Edited by nirvana
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goldbug9999

You definitely want 2FA on any crypto account and ideally an app based one rather than sms based.

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nirvana
9 minutes ago, goldbug9999 said:

You definitely want 2FA on any crypto account and ideally an app based one rather than sms based.

yeah good observation.....thanks for the heads up on bitstamp, google auth looks good, others I use are still using the sms approach O.o

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nirvana

@goldbug9999what gives with Bitstamp not displaying me an IBAN no for dosh xfer? I want to xfer from a UK account with USD holding....which ok the USD bit is irrelevant to them not displaying me an IBAN....

I found this 

 

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goldbug9999
22 minutes ago, nirvana said:

@goldbug9999what gives with Bitstamp not displaying me an IBAN no for dosh xfer? I want to xfer from a UK account with USD holding....which ok the USD bit is irrelevant to them not displaying me an IBAN....

I've only ever transferred GBP and then you get a european account number to tx to. Cant you just transfer the money to a GBP acocunt first ?.

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goldbug9999
6 hours ago, nirvana said:

I thought the app they were on about was the bitstamp app but it's the 'google authenticator' app which is quite cool cos it scans QR codes

Soz for being a noob nob :P hopefully this will help other noobs who need not be a nob B|

Pro tip for google auth is to keep a copy of the QR code somewhere safe (i.e. an encrypted file) that way you can re load it if you trash or lose the phone.

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Harley
Posted (edited)
12 minutes ago, goldbug9999 said:

Pro tip for google auth is to keep a copy of the QR code somewhere safe (i.e. an encrypted file) that way you can re load it if you trash or lose the phone.

How do you do that?  I can (and have) transferred QR codes to another device by following the export function and creating a QR code read by the other device but that's all I could do - that is run the 2FA authentications concurrently on multiple devices ("export" = copy, not copy and delete).

Edited by Harley
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goldbug9999
2 minutes ago, Harley said:

How do you do that?  I can (and have) transferred QR codes to another device by following the export function and creating a QR code read by the other device but that's all I could do - that is run the 2FA authentications concurrently on multiple devices ("export" = copy, not copy and delete).

You can image capture it when you first create the auth token or use the export function to display the QR code and then just take a pic of it with another device.

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Green Devil
58 minutes ago, goldbug9999 said:

Pro tip for google auth is to keep a copy of the QR code somewhere safe (i.e. an encrypted file) that way you can re load it if you trash or lose the phone.

I always wondered what happened if you lose you phone loaded with 2FAs.

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SpectrumFX
On 26/05/2021 at 12:07, JoeDavola said:

I've created the title but I'm hoping one or several of you lot can provide the details for newbies who fancy a punt.

(I am firmly in the camp that this is gambling and should be treated as such.)

So basically:

- where do you buy your coins (I'm assuming the answer is coinbase - but aren't there other places to get them before they are 'listed' on coinbase)?

- where do you look for news as to what to bet/invest in

 

If you want to find your feet with this just chuck an amount you can afford to lose into an exchange and have a play with it.

As a very basic guide

Step 1. Sign up to an exchange. I've used coinbase, and Blockchain.com others are available.

Step 2. Deposit cash with the exchange.

Step 3. Use deposited cash to buy whatever you like. 

You have different levels of ID verification with the exchanges for different things. Getting to a verification level that lets you deposit cash or trade coins is fairly straightforward. To withdraw cash you'll be scanning your passport and waiting a day or two.

 

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nirvana
12 hours ago, goldbug9999 said:

Pro tip for google auth is to keep a copy of the QR code somewhere safe (i.e. an encrypted file) that way you can re load it if you trash or lose the phone.

actually I don't understand why I'd ever have a QR code on a mobile? I use a proper computer remember :P

Seriously! I'm only using the phone to read the QR on the computer so why would anyone have em on a phone?

@Green Devilwhat QRs are you storing on your phone?

cheers

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goldbug9999
Posted (edited)
6 hours ago, nirvana said:

actually I don't understand why I'd ever have a QR code on a mobile? I use a proper computer remember :P

Seriously! I'm only using the phone to read the QR on the computer so why would anyone have em on a phone?

@Green Devilwhat QRs are you storing on your phone?

cheers

You wouldn't keep backup QR codes on the phone but in a secure file somewhere. The export function on google auth allows you to regenerate the original QR code so you can scan it on another device but thats no use if you lose/break the original phone.

Thing is for me that I need google auth to log into my work VPN so I cant afford to not have a backup.

Edited by goldbug9999
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nirvana
3 minutes ago, goldbug9999 said:

You wouldn't keep backup QR codes on the phone but in a secure file somewhere. The export function on google auth allows you to regenerate the original QR code so you can scan it on another device but thats no use if you lose/break the original phone.

tbh this is the first time I've used a QR code for accessing something on the internet, must be turning into a philistine xD

ah I see how it works now! you can export your info from the app, cool

onwards n upwards! wonder how much BTC will dip this weekend? :P

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