Help newbies: how to buy, hodl and sell altcoins

[pnx17]

Lots of people have discovered cryptocoins lately, but buying bitcoins and altcoins is not without its risks and problems. The same goes for hodling them and selling them. So use your experience to help out newbies and maybe get some fresh ideas from your peers.

Buying bitcoins 4 years ago I experienced some problems: I live with my parents so I couldn't verify my address because there are no bills with my name on (gas, electricity, water). I tried to register at several exchanges, sending them a copy of my ID-card, giving them my phone number, ... only to fail to register because I couldn't send a copy of a bill. I didn't and don't feel comfortable giving so many companies a copy of my ID-card. In the end, Localbitcoins was the solution for buying bitcoins.
Now, I want to buy altcoins, but there are some problems as well.

I want to buy altcoins without having to sell any of my BTC or having to buy BTC first. Where and how can you buy altcoins with a VISA card or
paypal or ..., but without a lengthy registration procedure?

There are thousands of altcoins and tokens, and for most of them there are no desktop wallets available. How do you manage or hodl your altcoins? For some there are desktop wallets, that way you own the private keys, but for others you have no choice but to keep them in an online wallet. Does the availability of a desktop wallet or ownership of the private key affect your choice of which altcoins to buy? Which wallet do you use for a specific altcoin?

How do you sell your altcoins if you want to get rid of them or swap them? Do you sell altcoins for money or do you exchange them to BTC
first?

SUMMARY - THE THREE QUESTIONS:

1. How to buy altcoins with a credit-card or paypal and with a minimum of hassle?

2. How to hodl (specific) altcoins in the most secure way?

3. How to sell altcoins?

Thanks

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[asayoyaasa]

You can try coinbase to buy bitcoin first, cause they support bank account, paypal, wire transfer, debit/credit card. Then send it to exchange that support altcoin you want.
You can use ledger or trezor for wallet, almost every cryptocurrency support ledger as a wallet.
selling alt bassicaly same like you buy it, just move it again to exchange and click sell.

[BitcoinHodler]

there aren't that many places that accept credit cards, i think it may have something to do with the fact that there are so many scams with CCs! check out cex.io
and there are even less places, nearly nowhere, that accepts PayPal because it is stupid how easy it is to scam with PayPal!

as for holding, there are multi wallets like JAXX with a lot of bugs and issues, there are hardware wallets like Trezor which will cost you and finally there are exchanges themselves. each have risks and benefits. for example keeping on exchange means you never miss any dumping chance ever because your alts are ready to be dumped always.

[VitKoyn]

1. How to buy altcoins with a credit-card or paypal and with a minimum of hassle?
2. How to hodl (specific) altcoins in the most secure way?
3. How to sell altcoins?

You should do the most safe way, buy Bitcoin and deposit that to your exchange account (ex. bittrex, binance, poloniex) and use that to buy other cryptocurrencies. If you want to hold it then transfer it to more safer wallet. Of course the safest way to secure your coins is to store it on a hardware wallet but the problem is not all cryptocurrencies are supported by them, so you will have to find the official wallet for that specific altcoin or you can just use a multi asset wallet like coinomi, exodus, or jaxx. It also gives you your private key so it is safe. Most people sell their altcoins by converting it to Bitcoin because it is more easier to find trusted exchanger for Bitcoin to fiat currency. But if you can use coinbase you can use it also to sell Ethereum, Bitcoin Cash, Litecoin.

[prodigys]

u can buy with credit card or paypal. but the commission will be huge, after u calculate the commission, u will give up on using paypal or credit card

[BayAreaCoins]

3. How to sell altcoins?

Your Bitcoin, Litecoin and/or Dogecoin may have addition hidden value on them from forks/snapshots.

FreeBitcoins.com offers a tool that allows you to check for multiple "free" coins.

And use Gemini.com to purchase Bitcoins rather than Coinbase.

[pangu]

coinmetro will solve those problems: https://www.linkedin.com/pulse/before-we-can-blockchain-world-need-simplifyaccess-kevin-murcko

[cryptodagger]

I suggest you find an exchanger from paypal to btc first then send your btc to exchanges then you can buy alts you wanted,you can watch tutorials in youtube mate do some research.

[BTCwin1]

I think it can be purchased through OKEX. This platform can provide USD directly for the service of USDT.

[dimon01]

Through coinbase is tested way. But the problem with exchangers is the perpetual risk of hacking. As about selling altcoins for me , the bitrex exchange is the most convenient.

[pikatju]

Don't give in to fomo and fud. The market swings... a lot! Stick with your coin as long as possible unless they release some really bad news.

[Freezingel]

You should make an account on coinbase and buy your first bitcoin / ethereum over there and after that you can make an account at the exchange where you want to buy your altcoin, binance or bittrex is a good exchange to start. After that you should deposit your bitcoin, make sure to use the correct address, buy your altcoin and withdraw it to the wallet. The most secure way to hold is to use hardware wallet like nano ledger s but it cost a little. If you want to sell then just deposit the coin from wallet to exchange and sell it. Send the bitcoin to your local exchange wallet and convert it into fiat overthere.

[Emperor of Man]

1. How to buy altcoins with a credit-card or paypal and with a minimum of hassle?

2. How to hodl (specific) altcoins in the most secure way?

3. How to sell altcoins?

1. If your first priority is to be hassle-free I suggest using https://shapeshift.io or https://changelly.com to buy alts. Be careful about the prices and the fees though, they are slighty more expensive than the exchanges.

2. People consider a hardware wallet (like a Ledger Nano S or a Trzeor) to be the safest option, and keeping your coins in a site or an exchange to be the most risky.

3. Either use https://shapeshift.io or https://changelly.com, or if you want USD use a good exchange like https://binance.com to sell them.

[ymirymir]

You can try coinbase to buy bitcoin,eth and litecoin. I am not really familiar with the process because I never bought any of it. Most of my coins are from signature campaign. Buying altcoins with good potential is a great way to earn decent bitcoin too. All you need to do is to make a research, find out about the features of the coin because some coins are worth holding because they give incentives depending on the amount you are holding. You can sell them if their price gets pumped.

[max6575]

moderating use of data and information as release from the drawing from institution/developer to gains of confirmation as might to defines of decision to put of following order as keeping or to moves as preparing the new plan with different table.

[antrop]

Try this for 1. https://localbitcoins.net/

[Pantoflascrypt017]

Many exchanges for smaller capped altcoins now have 1-2 dollar price differences per exchange so if you have accounts on seperate exchanges then you can buy a large order on one and transfer to the other exchange quickly and try to bag a quick easy profit, you need to buy quite a lot and also bear in mind tx fees and exchange fees before you decide on which coin/exchange to try this with. Sometime you may get lucky and see that one exchange has more than 10 dollars price difference and you can cash out there there is no real science behind this though just pure luck i think.

[silent17]

Lots of people have discovered cryptocoins lately, but buying bitcoins and altcoins is not without its risks and problems. The same goes for hodling them and selling them. So use your experience to help out newbies and maybe get some fresh ideas from your peers.

Buying bitcoins 4 years ago I experienced some problems: I live with my parents so I couldn't verify my address because there are no bills with my name on (gas, electricity, water). I tried to register at several exchanges, sending them a copy of my ID-card, giving them my phone number, ... only to fail to register because I couldn't send a copy of a bill. I didn't and don't feel comfortable giving so many companies a copy of my ID-card. In the end, Localbitcoins was the solution for buying bitcoins.
Now, I want to buy altcoins, but there are some problems as well.

I want to buy altcoins without having to sell any of my BTC or having to buy BTC first. Where and how can you buy altcoins with a VISA card or
paypal or ..., but without a lengthy registration procedure?

There are thousands of altcoins and tokens, and for most of them there are no desktop wallets available. How do you manage or hodl your altcoins? For some there are desktop wallets, that way you own the private keys, but for others you have no choice but to keep them in an online wallet. Does the availability of a desktop wallet or ownership of the private key affect your choice of which altcoins to buy? Which wallet do you use for a specific altcoin?

How do you sell your altcoins if you want to get rid of them or swap them? Do you sell altcoins for money or do you exchange them to BTC
first?

SUMMARY - THE THREE QUESTIONS:

1. How to buy altcoins with a credit-card or paypal and with a minimum of hassle?

2. How to hodl (specific) altcoins in the most secure way?

3. How to sell altcoins?

Thanks

First of all, I don't think that you can buy altcoin using Visa, without buying BTC first you should buy bitcoin in order to buy some altcoins.
You can Hold your coin in the exchange itself, if you don't want, try to use myetherwallet, myetherwallet gives you your own private key.
about selling alt's, It's simple, you just go to an exchange like binance & bittrex.

[lizardbtc]

Lots of people have discovered cryptocoins lately, but buying bitcoins and altcoins is not without its risks and problems. The same goes for hodling them and selling them. So use your experience to help out newbies and maybe get some fresh ideas from your peers.

Buying bitcoins 4 years ago I experienced some problems: I live with my parents so I couldn't verify my address because there are no bills with my name on (gas, electricity, water). I tried to register at several exchanges, sending them a copy of my ID-card, giving them my phone number, ... only to fail to register because I couldn't send a copy of a bill. I didn't and don't feel comfortable giving so many companies a copy of my ID-card. In the end, Localbitcoins was the solution for buying bitcoins.
Now, I want to buy altcoins, but there are some problems as well.

I want to buy altcoins without having to sell any of my BTC or having to buy BTC first. Where and how can you buy altcoins with a VISA card or
paypal or ..., but without a lengthy registration procedure?

There are thousands of altcoins and tokens, and for most of them there are no desktop wallets available. How do you manage or hodl your altcoins? For some there are desktop wallets, that way you own the private keys, but for others you have no choice but to keep them in an online wallet. Does the availability of a desktop wallet or ownership of the private key affect your choice of which altcoins to buy? Which wallet do you use for a specific altcoin?

How do you sell your altcoins if you want to get rid of them or swap them? Do you sell altcoins for money or do you exchange them to BTC
first?

SUMMARY - THE THREE QUESTIONS:

1. How to buy altcoins with a credit-card or paypal and with a minimum of hassle?

2. How to hodl (specific) altcoins in the most secure way?

3. How to sell altcoins?

Thanks

1. Simply look up exchangs with huge volume on coinmarketcap.... It all depends on the way you are comfortable buying cryptos. Paypal might be convinient way but by buying with paypal you will end up paying higher fees, you can usually find sellers for paypal on localbitcoins for instance. Many exhcnages will ask you for ID verification, are you okay with this?

Some exchagnes you could look up: localbitcoins, coinase, kraken, cex,io , gemini, bitstamp, coinsbank and many more options....

2. Safest way is to keep your coins out of exchanges. Depends on what do you plan here, if you want to hold for longer period of time inform yourself about cold storage. Try to see if hardware wallets support particular coins where you will invest in.

If you want to trade frequently you may want to check coinomi wallet, sadly it is availbe only for android but they support many altcoins which can come handy as your private keys neevr leave your device. Do note that coinomi is not open source.

3. Selling altcoins well again through exchanges, to name a few: Poloniex, cryptopia, binance, shapeshift , bittrex --> these are some exchanges that trade crypto pairs

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You can buy ethereum for instance or litecoin. Do note that bitcoin fees are high and buying ltc or eth could lower your fee rate and can also result in faster transactions - this is handy if you are only doing trading.

You could try to buy some alts here at forum or something else, some altcoins can be bought directly with visa nowadays, but not many - popular and easier way might be bying btc/eth and trading for alts :/

[pnx17]

Several responses, but not what I was hoping for. I have BTC that I want to hold on to. I don't want to buy more BTC just to exchange them for some altcoin. I want to buy altcoins directly.

1. How to buy altcoins directly?

There are litebit.eu and changelly.com. There must be others. Any recommendations?

2. How to hodl altcoins?

Which desktop or mobile wallet do you use for your altcoins? Jaxx, Exodus, Coinomi, ... Preferably a wallet where you are the owner of the private keys.
If you temporary store them on an exchange, which ones do you use? coinpayments, kraken, coinbase, poloniex, ...

3. How to trade altcoins?

Which exchange do you use for trading altcoins? How much hassle is the registration process nowadays? Which documents are required and how long does it take?