New to online currencies

[CoinPIMP]

Hi there. As topic says then I am green on this field.

I therefore have a few questions that I hope you guys and girls can be of help with so that I hopefully do not slip into too many of the pittfalls that are probably just as present on this field, if not more due to the potential value of many of the markets.

1. I got a few dollars on a paypal account that I would really like to use for trading. It's not a big amount but then I will get started! My question is then: How on earth do I get this to work? I've tried to look a little on google but somehow I only manage to get the option to use a bank wire transfer on the places i've been visiting... Anyone got a way to work around this issue?

2. All of these various coins obviously represent different values. Since I am not really in a position where I can say: I know what to invest in! Then I'd like to hear you guys out. How do you value if a currency is worth trading? And also when do you know when to buy/sell? I mean obviously when prices are low/high but still. There must be some factors that can screw up the economy big time?

[1715182835]

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[1715182835]

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[1715182835]

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[1715182835]

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[g1974ak]

Hi there. As topic says then I am green on this field.

I therefore have a few questions that I hope you guys and girls can be of help with so that I hopefully do not slip into too many of the pittfalls that are probably just as present on this field, if not more due to the potential value of many of the markets.

1. I got a few dollars on a paypal account that I would really like to use for trading. It's not a big amount but then I will get started! My question is then: How on earth do I get this to work? I've tried to look a little on google but somehow I only manage to get the option to use a bank wire transfer on the places i've been visiting... Anyone got a way to work around this issue?

2. All of these various coins obviously represent different values. Since I am not really in a position where I can say: I know what to invest in! Then I'd like to hear you guys out. How do you value if a currency is worth trading? And also when do you know when to buy/sell? I mean obviously when prices are low/high but still. There must be some factors that can screw up the economy big time?

In short:

1. You must find a tutor or someone which have time in trading. They do studies of the markets and make predictions which some time go well and some times go bad.

2. Seem thing for the cryptos but here the problem is more difficult. If for the fiat money there are indicator that really can help to do predictions with a certain of veracity with the cryptos the problem is that the signs are to few. So it's more difficult to do trade.

But in both cases it is important the tutor. The re groups of people organized that do such things. Try to be in contact with them.

[elisa9825]

In short:

1. You must find a tutor or someone which have time in trading. They do studies of the markets and make predictions which some time go well and some times go bad.

2. Seem thing for the cryptos but here the problem is more difficult. If for the fiat money there are indicator that really can help to do predictions with a certain of veracity with the cryptos the problem is that the signs are to few. So it's more difficult to do trade.

But in both cases it is important the tutor. The re groups of people organized that do such things. Try to be in contact with them.

Not every one has the luck to find a tutor. For new comers, they have to learn by themselves and do the research. At the beginning they should learn from the promising coins, not the new coins.

[randy8777]

In short:

1. You must find a tutor or someone which have time in trading. They do studies of the markets and make predictions which some time go well and some times go bad.

2. Seem thing for the cryptos but here the problem is more difficult. If for the fiat money there are indicator that really can help to do predictions with a certain of veracity with the cryptos the problem is that the signs are to few. So it's more difficult to do trade.

But in both cases it is important the tutor. The re groups of people organized that do such things. Try to be in contact with them.

Not every one has the luck to find a tutor. For new comers, they have to learn by themselves and do the research. At the beginning they should learn from the promising coins, not the new coins.

well, people should only focus on bitcoin. other alt currencies are just there for people trying to chase quick profits via pump and dumps.

[medUSA]

1. I got a few dollars on a paypal account that I would really like to use for trading.

If your balance is not over $200, forget using that amount for trading. You need large amounts of high frequency trades to earn anything worth while. Secondly, you would want to convert your PayPal balance to bitcoin. Bad news is no bitcoin seller likes to receive PayPal because of chargebacks. Those who accepts PayPal charge 10%-20% above market rate.

I know what to invest in! Then I'd like to hear you guys out.

If you don't know much about cryptos, stick with bitcoin. If you don't much about what drives the fluctuations in prices, buy bitcoin and hold. Trading is not really a game newbies should play.

[CoinPIMP]

Thanks for all the good responds.

What I read between the lines here are basically that to get into this is that one has to have extended knowledge to earn some money here. Above 200 USD is not an issue, however if I take a look at Bitcoins whom are the most frequently mentioned above then the margins for profit seems pretty slim?

And yeah one might have to find a guru of sorts, but they do not exactly go around with a big badge around their neck claiming to be just that

I know there are knowledge to get on this forum and others like this. However what are you guys looking for when buying/selling coins? And are any of you here making a living off of it? I am not looking for any numbers, just curious as to what one can expect here.

[MrZillion]

1) get a bitcoin wallet:
    the download link is on bitcointalk, top left corner of the screen: News: New! Latest stable version of Bitcoin Core: 0.11.0 [Torrent]

2) fund your wallet, quickest way is through localbitcoins.com (some accept paypal, but at a premium)

3) find an alt coin you like on any exchange, i.e. poloniex.com or bittrex.com (there are many more)

4) start trading with your bitcoins

[XinXan]

Thanks for all the good responds.

What I read between the lines here are basically that to get into this is that one has to have extended knowledge to earn some money here. Above 200 USD is not an issue, however if I take a look at Bitcoins whom are the most frequently mentioned above then the margins for profit seems pretty slim?

And yeah one might have to find a guru of sorts, but they do not exactly go around with a big badge around their neck claiming to be just that

I know there are knowledge to get on this forum and others like this. However what are you guys looking for when buying/selling coins? And are any of you here making a living off of it? I am not looking for any numbers, just curious as to what one can expect here.

No one knows how to trade in bitcoins and be sure that he will make profit all the time, they are extremely volatile and its impossible to predict the price, not long term not short term, it´s just hard, its definitely better to trade short term, since long term could have devastating results.

[Cereberus]

Thanks for all the good responds.

What I read between the lines here are basically that to get into this is that one has to have extended knowledge to earn some money here. Above 200 USD is not an issue, however if I take a look at Bitcoins whom are the most frequently mentioned above then the margins for profit seems pretty slim?

And yeah one might have to find a guru of sorts, but they do not exactly go around with a big badge around their neck claiming to be just that

I know there are knowledge to get on this forum and others like this. However what are you guys looking for when buying/selling coins? And are any of you here making a living off of it? I am not looking for any numbers, just curious as to what one can expect here.

Gurus are going to change you a fee to give you what they learned and have experience in.
As with everything in life. Nothing is free and you will pay to make a profit in the end.

[alva5763]

I keep reading about trading bitcoins, Such trading is no different or less risky than other currencies eg sterlin,yen,euro and dollar. There is no guaranteed get rich,either quick or slow,with bitcoin.