Bitcoin is not on a bubble but I won't deny the fact that people explore the speculative ability of Bitcoin to cause FOMO and a lot of money even from people who have no knowledge of Crypto came into the market but now a lot of retracement have been done. We can only hope that it moon again.
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The golden rule is that you should ensure that your private key are kept safe in a secured place known only to you. Also ensure you double check the site you are visiting for possible phishing attempt and never enter your private key on any site. Lastly, if you have enough money, the best bet is to get a paper wallet or hardware wallet. They are safer than others.
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There is a general note that once we hear cryptocurrency exchanges, the first thing that come to our mind is Platform for trading several other Cryptos.
That's true, but it may interest u to know that there are some wallet that also serve as an exchange Let me take the key points here; Exchange is the art by which goods A is giving out for good B upon a prefined agreement. The agreement here means price agreement A popular wallet we know is also an exchange (blockchain.info). It was first design to be BTC wallet only, but now we have 3coins storable in the wallet. With that, there is now a platform which enhance exchange from one crypto asset to another I.e u can exchange BTC for ETH on block chain ,upon price agreement, it's the exchange helps us to achieve that.
Back to the conventional crypto exchange we have The basic knowledge is that exchange is a platform which several coins can be traded with other pairs of cryptocurrency. We have a good numbers of crypto exchange. We have Binance, Cryptopia, Bittrex, Yobit, Mercatox, Bleutrade, Okex, kucoin, B2Bx, Bitmex, Bitfinex, and so many other exchanges There exist over 400+ diff exchanges across the globe.The question is which exchange is best to trade on since u can trade on all the exchange. That's will lead us to the choice of exchanges for trading.
Before you select an exchange, you need to consider the following
1. How secure is the exchange is 2. Trading Volume on the exchange 3. availability of several coin (options) 4. Trading options And so on
The above mention are the most important ones. I Will take them one after the other The most important thing to question before u register on exchange is security. Then u consider the volume of money trading on the exchange Trading on an exchange with a volume less than 1btc is more risky than ones training with 500btc volume and above Next is trading options Some exchange make provision for margin trading (where I trade with leverage and liquidation) While some don't have the margin trading option Example of this is Bitmex/Bitfinex (margin options exchanges)
And exchange like binance, bittrex ,etc are conventional trading exchange that do not give options for margin trading. Now, we move to registering on an exchange. First, u get the correct URL of the exchange. Register with ur email and set ur preferred password
Set ur security (2fa esp)
Once that is done, u can move money to your exchange to begin trading It should be noted that, not all coins are listed on all exchanges,
That might give rise to u opening several other good exchanges to take advantage of (such as arbitration and etc) So, any coin you wanna trade and it not in the exchange you are using, it is allowed to open the exchange that will has listed the coin. The activities that goes on on a crypto exchange are as follows:
Buying/selling Deposit/withdrawal Placing of order (limit/stop loss) Without the exchange trading alts cannot be very seamless and this easy
My recommendations for exchanges to get registered on are as a newbie are
Binance.com Bittrex.com Mercatox.com Cryptopia.co.nz Livecoin.com Coinexchange.io I hope this thread educate newbies on the fundamental of cryptocurrency trading.
Thank you.
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I really don't like ICO without working projects already, for example, if it's involve an application, I would want to see that actions have been taking towards developing the app or even more preferable if the app is already in beta stage. Then I would be convinced that they mean business. Little or no commitment at all on the part of the team is a huge red flag for me.
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China is already one of the country to reckon with in the world but becoming number one country, that I don't think is possible even in the next decade. Aside US, Russia and even Germany have been at the forefront in terms of economy and war artilleries. I love the peace maker role China is currently playing, it's good for them.
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Economy refers to the state of production and consumption of goods in a country. Developed economies refers to first world countries that have successfully harnessed all factors of production in their country towards provision of social amenities for their citizens. While developing nations are still in the process of meeting this goal
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This is true for project with no use case and with time sanity would return fully into the crypto space. Such project like the bitconnect you mentioned would die eventually.
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Not only crypto is affected by hackers even your normal account is subject to hacking. The best therefore is for you to secure your password and guard your private key jealously. If you have enough fund, I would also encourage you to get a paper or hardware wallet. With that safety is guaranteed.
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While this is a laudable idea, I believe that newbie should take their time to get familiar with the platform before starting any signature campaign. It would serve as a learning period for them. I was there before but now, I'm a Jr member, if they are persistent enough making Jr is pretty easy, you only need 30 comments.
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Worry no more my dear, I believe there's no Satoshi Nakamoto, it's just one of the numerous world conspiracy. In this age and with the available technology, I believe that if there's any Satoshi Nakamoto at all, someone would have reveal his identity. But then, cryptography and Bitcoin is actually a genius idea in moving.
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Experience traders know that this is the time to fill your bags. The golden rule as really not change, buy when the market is dissapointly low and majority are pessimistic about downward movement, sell back when they are most optimistic.
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There's a reason why it's being referred to as a disruptive technology, it's challenging the way things has always been done. Therefore, before acceptance by anyone (government inclusive) there's a need to understand the technology behind it. Only then can both reach a consensus of how to work hand-in-hand.
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Great post you just shared mate. The annoying thing about this is that due to these numerous pyramid schemes that uses cryptocurrency as their means of payment have made the generality of people without the knowledge of Bitcoin to see it as a scam. This is majorly because Ponzi operators prefer to call their schemes cryptocurrency nowadays thereby deceiving ignorant people into thinking that they are investing in digital currency, which is not true. My candid advise is to be save out there. Thanks
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Eventually it will become stabilise someday, different government are making efforts to understand the technology behind it while some tertiary institutions have started it as a course. By the time the tech is fully understood, the volatility would reduce or eliminated. Only then, can it become a currency.
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In addition, I think prevention is better than cure. Before getting rekt, getting the require knowledge is sacrosanct. Before venturing into full time trading, I would advise that you demo trade for atleast 3 months, learning market psychology and tools usage. With this, you will know when to take profit and also when to cut loss.
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In addition to all that have been said, mining requires computer system with high specifications and lot of high tech supporting devices while buying involves payment of any form either with fiat or altcoin to acquire btc.
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Many have actually gave you website option alternatively, if you network well you can sell to a fellow crypto Enthusiast. Please ensure that you use trusted escrow or you can request for a face to face transaction. I hope that helps.
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That's pretty easy to achieve but you must be sure if the token are listed on any exchange yet and with active trading activity. To know this, you can start by scanning your Erc-20 wallet address with etherscan.io to know the coins trading in your wallet and alternative you can check with coinmarketcap. I hope that helps.
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Please the point I'll love to emphasize is this, ERC-20 wallet address is different from normal etherum wallet. Because I didn't know this in my early days and I submitted my Eth address, I lost so many tokens. Example of ERC-20 wallet include metamask, imtoken and myetherwallet.
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There are amazing apps that you can use to build your vocabulary. It has really helped me to improve my writing skills and confidence. Example of such app is memrise, you can check it out on play store. With good vocab, trust me you're good to go.
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