How do you invest on exchange? Money waiting ready to go?

[razorseal]

Couldn't think of a short title to explain what I mean lol...

Recently got into bitcoin investing... Should have done it 5 years ago when I looked into it. Oh well... anyways... lol

I do stock investing with Robinhood. If anyone knows or uses it, with their gold membership, they give you a courtesy instant funds transfer upto 1K (or maybe 2K, I can't remember). So when I see a stock worth getting into, I go into Robinhood, initiate a transfer from my bank account and immediately I have about a 1,000 to invest with. Sometimes these things are so dynamic, I see an opportunity an hour (or minutes) before I decide to buy the stock. There is no fee taken out btw for the instant funds transfer (again, it's based on good faith that the bank account has the money and the transfer will complete)

I started using Gdax recently and figured I start off with about 100 dollars to invest with just so I can understand the dynamics of crypto exchange and I don't do forex or anything.

It took me 4 days to get the 100 dollars... during that time the bitcoin dropped from like 7500 to 5300ish and I could no nothing but watch this crazy drop as I waited for my money to come in... So I missed out on that 

So my question is, what do you guys do? Have some USD waiting in an exchange just ready to purchase some stuff? Do you use coinbase and do the debit transfer and eat the 5% fee they charge? Is there some instant funds exchange like robinhood that I don't know about?

Would love to know what you guys do. I think this is exciting, but I want to make sure I'm taking all the benefits from things I may not yet know.

Thanks!

[EXtremeAEX]

Hi there, GDax and Coinbase are both good ways to trade, and to beat the waiting time you just have to invest more earlier. Exchanges usually takes quite a while to process and convert your cash to BTC (for security reasons, perhaps). Its not too bad anyways, the price has gone up to 8000 now, which you can sell and profit from it. Wish you luck in your investments!

[razorseal]

Hi there, GDax and Coinbase are both good ways to trade, and to beat the waiting time you just have to invest more earlier. Exchanges usually takes quite a while to process and convert your cash to BTC (for security reasons, perhaps). Its not too bad anyways, the price has gone up to 8000 now, which you can sell and profit from it. Wish you luck in your investments!

Right, but what about when it just drops? I mean like right now I don't have any money in gdax. in the next hour or day, btc can just go to 6K which would be a great buy time. But I don't have any means of putting 1K into gdax right away to benefit from it. So do people just keep some USD sitting idle in their gdax waiting for an oppurtunity like this? I don't like the thought of tying up money into an exchange with USD which is why I asked.

I wish there was a place that would do what robinhood does, and give you instant availability on good will. If you mess up and not have enough money in your bank account, the exchange would just put you in the negative, and you can't pull your money out until you bring your balance to 0 the old fashion way.

Only way I can think of is if you wire money into gdax I guess

[HabBear]

Only way I can think of is if you wire money into gdax I guess

Coinbase (among other exchanges) allow you to store fiat currency on their site, in a fiat wallet, so you can buy crypto currency at the exact time the price is right for you.

Coinbase also allows you to lock in your purchase price at the time of purchase even though it'll take a few days for the transaction to settle. It's faster if you use a credit card, but you can still connect a checking or savings account.

The first step is signing up, get an account, get authorized, then click "buy" when you see the right opportunity! If you wait til tomorrow you'll just be one day older when you finally decided to get in on this.

[razorseal]

Only way I can think of is if you wire money into gdax I guess

Coinbase (among other exchanges) allow you to store fiat currency on their site, in a fiat wallet, so you can buy crypto currency at the exact time the price is right for you.

Coinbase also allows you to lock in your purchase price at the time of purchase even though it'll take a few days for the transaction to settle. It's faster if you use a credit card, but you can still connect a checking or savings account.

The first step is signing up, get an account, get authorized, then click "buy" when you see the right opportunity! If you wait til tomorrow you'll just be one day older when you finally decided to get in on this.

Right, I see that as the only way.

limited to 750 on Coinbase with a 5% transaction fee from debit card. So you bring in 500 bucks, you lost 25 dollars of it... Pretty crappy.

Now you can use that on gdax and limited to 3 currencies...

or you pay a transaction fee and transfer from GDAX by converting what you have to LTC and then send to wallet/exchange of choice?

I am registered and ready to go.... bittrex, kraken, gdax, poloniex and all verified. Problem is how do I send 500 bucks to one of them right now avaliable to trade today? I'm aware bittrex doesn't accept USD.

[flippener]

I am registered and ready to go.... bittrex, kraken, gdax, poloniex and all verified. Problem is how do I send 500 bucks to one of them right now avaliable to trade today? I'm aware bittrex doesn't accept USD.

Coinbase is a pain, but it's the easiest way in. Buy a chunk of BTC on Coinbase and send it to Bittrex, Kraken, etc. to trade.

[razorseal]

I am registered and ready to go.... bittrex, kraken, gdax, poloniex and all verified. Problem is how do I send 500 bucks to one of them right now avaliable to trade today? I'm aware bittrex doesn't accept USD.

Coinbase is a pain, but it's the easiest way in. Buy a chunk of BTC on Coinbase and send it to Bittrex, Kraken, etc. to trade.

Just kills me to pay that fee!!! I wish there was an exchange that did the instant transfer thing like robinhood...

Also, I always hear never to keep your currency at an exchange. Well what do you do? constantly transfer back and forth anytime you want to trade? the tranaction fees would just add up!