New Crypto user

[jamesb111]

Hi there,

So i am completely new to this and im interested in trying to buy some crypto currency for the long term. I have looked into it, have a little spare money and would like to invest.
I have a friend who does it a little and has told me to ' buy it bitcoin or ether through an exchange, then transfer it to another exchange and trade it for the coin i want.
I basically have no idea how to do this and am wondering why i cant just simply trade it through something like plus 500 and what is the difference??
I sort of understand that its not leveraged doing it this way, which if im correct means if it was go to 0, i cant lose more than what i put in.

All help would be greatly appreciated to get me going. Or if you can put me in the right direction so i can read more and get a better understanding of it.

Thanks
James

[1715577810]

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[1715577810]

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[ardyology]

I would suggest that you lurk around different threads here and you'll be surprised on how good you'll become just by researching. Of course, the best teacher would be your personal experience and I would love to see you grow in the near future. Best of luck! You just took your first step towards financial freedom!

[Xeils]

What you should do first is decide which coin you would like dealing with, and than learn everything you can about it. Knowledge is power, so by knowing a lot about thing you are involved with you can mostly predict what is going to happen. That way almost nothing can surprise you. Most of the things you can find here on forum, so stick around and invest some time in reading.
And about buying and selling crypto-currency i suggest that you use only legit (safe) and well known sites for trading. That way you will minimize possibility of scam and losing money.
Wish you all the best in the future.

[heisenberg0000]

Hi there,

So i am completely new to this and im interested in trying to buy some crypto currency for the long term. I have looked into it, have a little spare money and would like to invest.
I have a friend who does it a little and has told me to ' buy it bitcoin or ether through an exchange, then transfer it to another exchange and trade it for the coin i want.
I basically have no idea how to do this and am wondering why i cant just simply trade it through something like plus 500 and what is the difference??
I sort of understand that its not leveraged doing it this way, which if im correct means if it was go to 0, i cant lose more than what i put in.

All help would be greatly appreciated to get me going. Or if you can put me in the right direction so i can read more and get a better understanding of it.

Thanks
James

Hi James, here is my suggestion to you if you really wanted to go into the crypto world.
1. Look for a mentor that can teach you personally, given that the market is so volatile and may cause panic from your end when the market crashes, someone who could guide you all the way would be a good start.
2. Join telegram groups or channels where you can receive free information.
3. Read and look for credible articles, please make it a point that you read crypto related stuffs on a daily basis.

[avikz]

Hi there,

So i am completely new to this and im interested in trying to buy some crypto currency for the long term. I have looked into it, have a little spare money and would like to invest.

Welcome to the crypto world! Please understand one fact, that crypto market is very dynamic and we don't have a regulator here.

I have a friend who does it a little and has told me to ' buy it bitcoin or ether through an exchange, then transfer it to another exchange and trade it for the coin i want.
I basically have no idea how to do this and am wondering why i cant just simply trade it through something like plus 500 and what is the difference??
I sort of understand that its not leveraged doing it this way, which if im correct means if it was go to 0, i cant lose more than what i put in.

You can be a trader or an investors based on your risk taking capability. Both requires an initial investment. Join any exchange of your choice, fill the account with whatever payment options they provide you and start either trading or investing. You can certainly trade as per the options offered to you or you can simply buy few coins and hold it for long time. However, don't forget to diversify and never put the entire money in to a single asset. Buy three of more assets for your long term investment plan so that one coin can support your investment if the other one is going down. You certainly can't loose more than your investment unless you are doing a margin trading and I am sure no one offers the margin trading facility here in the crypto market. So the maximum you can loose is your investment and nothing beyond that.

Hope this helps!

[SrEasts]

Welcome to the forums james. So, by my understandings, your goal is to buy bitcoin or ethereum and become a long term holder... How do you start? Well, most people started by transferring fiat into coinbase (i believe its the most used exchange for that and it has the most user friendly interface). So after you transfer your money into coinbase, you'll be able to buy bitcoin or ethereum with it. So if your goal is really just holding bitcoin/ethereum u just need to transfer it afterwards into a cold wallet (dont leave it in the exchange).

[Sachinist]

Bitcoin and, to a lesser extent, Ethereum are the safest bets. If you want to trade altcoins, do plenty of research on coins outside top 100 - read whitepapers, roadmaps, check out github for active projects. Diversify your investment across atleast 5 promising coins based on your research and don't look at your portfolio for the next 2 months. The quality of your research will be reflected in the results after 2 months.

[TutorShow]

Hi there,

So i am completely new to this and im interested in trying to buy some crypto currency for the long term. I have looked into it, have a little spare money and would like to invest.
I have a friend who does it a little and has told me to ' buy it bitcoin or ether through an exchange, then transfer it to another exchange and trade it for the coin i want.
I basically have no idea how to do this and am wondering why i cant just simply trade it through something like plus 500 and what is the difference??
I sort of understand that its not leveraged doing it this way, which if im correct means if it was go to 0, i cant lose more than what i put in.

All help would be greatly appreciated to get me going. Or if you can put me in the right direction so i can read more and get a better understanding of it.

Thanks
James

bitcoin price touch 10,500$ and have ability to back again less than 10,000$ next days.
you can buy bitcoin for 11,000$ and wait more than 5 months after than you can sell it more than 17,000$ easy.
buy altcoins is good and you can use it ifnot intersted in bitcoin 

[Mj1996]

I am also new in this world of crypto. I hpoe that someone coukd help me get into crypto.