Hi all,
I'd like to invest in alt coins. Can any one help me choose an exchange and a wallet please?
There are quit a lot of exchanges that deal with GBP including but not limited to:
- Kraken:
https://www.kraken.com/- CoinsBank:
https://coinsbank.com/- Coinfloor:
https://coinfloor.co.uk/Also there is a relatively new exchange site for GBP pairs only, it's called CryptoMate, link:
https://cryptomate.co.uk/ (though I don't know if it's legit or not).
Wallets depend on alternative coins – there isn't a specific wallet for all altcoins.
My understanding is, I deposit GBP into an exchange account, buy whatever I want and then move it to a wallet to store it there. Please can someone confirm if this is right ?
Yes, that's right, especially in long-term investments.
I plan to start trading with a small amount of money.
Always a good idea.
Thank you.
Do I incur commission etc when I buy bitcoin and then again when I trade it to buy alt currency?
Is there a limit to the amount I can buy in a single transaction or day?
Yes, you incur commissions on any trade. There are limitations, if your account is not verified. Some exchanges don't even allow you to trade without verification. Once it is verified, you will be free to trade with any amount of money.