Bitcoin Forum

Ok,so guys this is probably the noobest of noob questions,but after having watched tons of vids and articles on cryptocoin topics,i just want to ask this question straightforward,knowing that im gonna sound silly.

Buying a coin at a low and selling/exchanging it when its high is pretty much the first principle of cryptocoin profit right?

Say i got x amounts of Doge and x amount of Btc,it makes sense to convert all my Doge to Btc when Btc is taking a dive,and vice versa right?

If Btc is half the price today it was yesterday,the basic principle  would be to convert all my Doge to Btc now that i can buy it cheaper(1/2 price),and wait till it goes back up again,then sell it for double the price i got it,or exchange it back again.right?

Please tell me if this line of thinking is reasonable!Its ridiculous,ive watched so many videos i now know what a Pump and Dump is,but im still confused about the basics!

Anyway,any input is extremely helpful guys!

Thanx in advance!

First off, there's no such thing as stupid questions. We all have to start somewhere. Right? :P

Well. Easy to say, yes that would be the right move. The hard part is, when to buy or when to sell, as it's quite difficult to determine the price low and high points of a coin. Also, patience is a huge role here. It could possibly take months or probably years(though it isn't likely). Lookup the price graph of Siacoin. It's a good example.

My advice to you would be to deposit a small amount of money and play with it for a few days. Just so you get a feel of the cryptomarkets. Then when you think you're ready, then go with a bigger amount. Best of luck.

Thank you very much man,this was actually extremely helpful!Its usually pretty hard to get straight answers on the internet,you know,by users at least.

Im surely looking to get my feet wet,kinda browsing around for options right now.

What would you suggest for a beginner,play around with trading?Or maybe get a small mining contract?