Bitcoin Forum

Hello members!
I am a newbie in the world of crypto currencies and I have a few questions before starting. My idea is to invest in still cheap and perspective currencies, according to the analysis which I have read. Note that this is a long-term investment – I don’t want to exchange and trade. But here come the problems:
1.Where I can buy the chosen coins – STEEM, STRAT, MAID, GAME, FCT and BELA. Maybe I should buy some ETH/BTC from plus500 for example and to store them in Jaxx wallet. Then to trade them in Poloniex for my choices. Is it a good strategy? I heard also that I shouldn’t store any coins in Poloniex, but…
2. Which is the best wallet for my case? Can I use the official wallet of every coin and then print them like paper wallet?
Thanks in advance for your help!  :)

1) Buy some Bitcoin from an exchange or localbitcoins. You cannot buy from plus500 since all they offer are non-deliverable contracts for difference (CFDs). https://www.plus500.com/Instruments/BTCUSD

2) Each coin has a different wallet. Get a dedicated piece of hardware, install your own OS, run a local firewall, use full disk encryption, etc and only use it to store crypto. Don't web browse, don't skype, don't open email, don't do anything that isn't related to being your own bank on that machine. Keep a paper backup in several safe places such as safe deposit boxes, buried in your back yard, etc. Key loss due to lack of backups is the most likely way to lose funds in crypto.

3) Don't trade. Buy your stash, don't look at the prices every day. To be clear, you'll likely be better off if you can forget you even had them several years at a time. People have made way more money buying BTC at $300 than at $10 because most will sell early.

Good luck.

Eh? Trading is profitable if you know what you are doing.

Although he is a newbie, I would still recommend SHORT-TERM trading (not DAY trading).

how do you want to pay for those coin? If you already own BTC you can easilly get them on any exchange (polo/krak/whatever you like)
As you said, I suggest Jaxx as wallet and for the coins that are not listed there, look if they have an app (like waves/XLM etc) otherwise you can leave your coin on the exchange's wallet even if someone can consider it a bit risky..

Thank you all for the advices!
I will buy today BTC and then start buying the altcoins I have chosen in Poloniex. Maybe they will stay there for a week or more, because I am not that into wallets and have to read more about them. As I said I prefer to have paper wallets as more secure.

lol forgeting that you don't have the coins only works when you have potential coins. BTC? Of course! But you gotta choose carefully with alts. If you really want to learn about cryptocurrencies, the best way would be reading up on and trading them.

glad to heard about this,, you do the right choice my friend, by choosing poloniex  ;)
just suggestion for you, try to learn about crypto trading,,
and you can make daily profit in BTC
regards

Is it really the right choice to use Polo? Heard some horror stories. Also people constantly having problems with withdrawals and deposits on it.

So what is the alternative of Polo? I still don't have anything on it, so I can choose another one if it's safer.

try to help,,
for me polo is good,, i trade on bittrex and poloniex,, i never got problem  ;)
but polo is my 2nd exchange to trade,, the 1st exchange for me is bittrex
maybe you can try bittrex as your 2nd choice to buy alts
thank you