Exchanging mined BitCoins to other currencies

[portreathbeach]

I am just getting into mining and have looked at NiceHash as the pool. They pay you in BitCoin for the mining, but I would like to easily exchange the BitCoins for other crypto currencies. I have registered with Coinbase and it seems fairly easy to transfer you Bitcoins over to them, but they only have 4 wallets for other currencies, BitCoin, BitCoin cash, Litecoin and Ethereum. Is there somewhere else I can have an online digital wallet that has lots of currencies. What I want to do is, every month I want to transfer the BitCoins from NiceHash to somewhere where I can split them up into 3 or 4 other crypto currencies, eg. LiteCoin, Ripple, Cryptonight etc.

[1714044028]

1714044028

[fanatic26]

You can use shapeshift.io to convert currencies anonymously. Online wallets are not recommended because you most likely do not control your private keys. If you want to go that route, look into coinomi wallet on your phone.

[ccgllc]

Agree that you should have a local wallet for any coin your seriously interested in.

Poloniex has been around a long time and has a lot of coins listed.  There are MANY MANY others.

[portreathbeach]

Thanks for the replies, I'm still trying to get my head around the whole thing to be honest.

So, I would install Coinomi on my iPhone, setup a BitCoin wallet on that which I transfer into from my NiceHash wallet every month or so. And then in Coinomi I could set up other wallets for other currencies and exchange the coins.

If the coins are stored on my phone, what happens if I break the phone and buy a new one?

[Patatas]

So, I would install Coinomi on my iPhone, setup a BitCoin wallet on that which I transfer into from my NiceHash wallet every month or so. And then in Coinomi I could set up other wallets for other currencies and exchange the coins.

Precisely.However I would recommend not to store coins on Coinomi if the volume is large and you wish to hold it for a long time.Might sound a bit off-topic but you should rather store your coins on a simple wallet like Electrum if not Core.
As long as exchanging them to other coins is concerned,I think rather go with the reputed exchanges which is certain offer far more variety of coins than Coinomi.

If the coins are stored on my phone, what happens if I break the phone and buy a new one?

Ideally,your recovery can be done using  a recovery passphrase provided if you had backed it up.If you lose your phrase and access to the phone,there are slime chances of you getting your money back.Please read more about it here https://coinomi.freshdesk.com/support/solutions/folders/29000050840

[stomachgrowls]

I am just getting into mining and have looked at NiceHash as the pool. They pay you in BitCoin for the mining, but I would like to easily exchange the BitCoins for other crypto currencies. I have registered with Coinbase and it seems fairly easy to transfer you Bitcoins over to them, but they only have 4 wallets for other currencies, BitCoin, BitCoin cash, Litecoin and Ethereum. Is there somewhere else I can have an online digital wallet that has lots of currencies. What I want to do is, every month I want to transfer the BitCoins from NiceHash to somewhere where I can split them up into 3 or 4 other crypto currencies, eg. LiteCoin, Ripple, Cryptonight etc.

Aside from suggestions above.I would have my own way when we do talk about to your plans on splitting up/converting your bitcoin into other crypto currencies. Once you do accumulate bitcoin then i would transfer it to my own wallet which i do posses keys like Electrum or desktop wallet.Then thats the time i do get a fraction of those bitcoin to sent out into exchanges and buy altcoins that i want and store em up mostly on MEW since most coins in the market is Erc20.If not then theres a corresponding wallet to that one as long we are responsible on taking care out of our wallet then those coins are safe.In my process it might be time consuming and do have some fees but im convenient on this way.

[salamidreng]

Keep calm and you’ll have to consider again later.

Worst transfer fee in the world btw.

[Beachlife]

You should really experiment by creating accounts at various exchanges around the world, and seeing how the exchanges work.  I personally like, yobit, hitbtc, tradesatoshi, binance and etherdelta.  But there are many more to explore.
The more you can learn about how the exchanges work, the more you can take advantage of things like exchange specific forks.
For example.  On Feb 28 2018, today.  Yobit gave a token fork called BTCdoll in a 1 to 1 ratio for anyone holding bitcoin in the yobit exchange.  The coin was worth $100 at launch.
Also today, tradesatoshi.com had a fork of 1BTC to 1 BTCP (bitcoin private) and a fork of 1 ZCL to 1 BTCP
For anyone holding ZCL or BTC in the tradesatoshi wallet.
So the more places you have access to, the more you can be involved in lucrative opportunities.

[h0lybyte]

It is pleasant to know that more people are getting involved with cryptocurreny market and no doubt this forum works like a helpful companion to newbies. As far my concern of exchange platforms, i have found binance.com a user-friendly platform that allows you to swap coins even without being verified

[SFR10]

Just to give you few more options (apart from the above suggestions), you can also try the following:

1. Exodus - Desktop wallet (Supported assets. They also support some of the Ethereum assets [only for send/receive purposes, no exchange option]). The only downside is their high transactions fees.
2. Jaxx - Multi-platform (desktop, mobile and browser).

The above wallets, covers most major crypto-currencies (not all) out there.

[hasmukh_rawal]

Why dont u try to exchange the cryptocurrencies on an exchange itself since it would give you numerous options to choose a coin from. You can try using Binance or bittrex which have a simple user interface and can be accessible from chrome on mobile.  Most of the times when I am out at work, I use to trade on binance and bittrex through my mobile itself as it is convenient enough. Other exchanges/wallets wont give you that much flexibility in terms of altcoins and transactions.

[Wipro]

Agree that you should have a local wallet for any coin your seriously interested in.

Poloniex has been around a long time and has a lot of coins listed.  There are MANY MANY others.

Polenix already rlleft the market buddy. Do you know answer or randomly sharing the answer here. Shapeshift provides best service to exchange your coin without knowing your private details.
When the polenix alive also they required the personal information about you to open the trade.
If your LBC wallet enabled with 2FA your funds are pretty safer than thing.

[seven2smoke1]

There are a plenty of sites that allow you to exchange your bitcoin in any other cryptocurrencies. I recommend Poloniex as a great platform for trading and one of the best exchange, I say that because of the low fees when you exchange your bitcoin to any other crypto. In addition, it's too secure and quick when we talk about transactions, you can do the exchange in just a few seconds, and the procedure of deposit and withdrawals can be handled in a few minutes.