Newbie alert - how to get on the bandwagon?

[firehawk1]

Hi all.
Like with everyone, trying to get on the bandwagon but I am a total newb. Sincerely asking for legit help.

How do I start buying/investing into crypto? What tools do I need to? What broker do I need? (I do have Robinhood if it helps)
I am NOT looking to mine, just to buy and sell and make a modest amount in a shortish-med timeframe (not talking years).
What should I be aware of? What are the newest or fastest growing with a high gain? I read, like everyone has, about SOL and how in 6 days some person made a ton of money. Obviously not looking to make that amount of money but again, a modest amount.

I have $2.5K I can happily play with to start with.

Not familiar with terms and processes so.. talk to me like a monkey. lol. Goal is simple... buy/sell and have that paid out to my bank.

Looking forward to your responses.

[Hewlet]

Hi all.
Like with everyone, trying to get on the bandwagon but I am a total newb. Sincerely asking for legit help.

How do I start buying/investing into crypto? What tools do I need to? What broker do I need? (I do have Robinhood if it helps)
I am NOT looking to mine, just to buy and sell and make a modest amount in a shortish-med timeframe (not talking years).
What should I be aware of? What are the newest or fastest growing with a high gain? I read, like everyone has, about SOL and how in 6 days some person made a ton of money. Obviously not looking to make that amount of money but again, a modest amount.

I have $2.5K I can happily play with to start with.

Looking forward to your responses.

you are welcome to the forum and I must say that you're in the right place. Buying bitcoin as a beginner isn't the wrong step to follow but I just want you to know that the mentality that you can just buy bitcoin and within the next 6 days, you will just make turns of money would give you unease in your bitcoin investment and so if the $2.5k is you spare money that you can afford to invest and not easily get worried about it, yo can use it and buy bitcoin and hold it till the price reaches a reasonable amount that is above the amount you bought it and that you're comfortable enough to selling it.

Talking about how to buy your bitcoin and the best way to go about it, I guess the post explains and has done a reasonable justice to you question and I will recommend you go through it.
https://bitcointalk.org/index.php?topic=1926403.msg19116027#msg19116027

[Wexnident]

~

Exchanges for buying and seeling. Centralized ones would probably be the most easiest one to enter on since it simplify quite a bit from buying to storing coins themselves. You can take the time to use Decentralized ones but I reckon you're better off with learning hardware wallets instead and learning about how to properly store tokens instead.

As for coins, it's honestly a coin flip if you're not going to do your own research. Fast-growing tokens would depend on which projects are actively releasing new positive developments, as well as some new coins out there suddenly pumping which is probably manipulated by some of the team members. Just remember the usual quote buy low sell high and just actively avoid buying when a coin is pumping, it usually dumps down after. Buy when it's dumping instead.

[mixologist]

Hi all.
Like with everyone, trying to get on the bandwagon but I am a total newb. Sincerely asking for legit help.

How do I start buying/investing into crypto? What tools do I need to? What broker do I need? (I do have Robinhood if it helps)
I am NOT looking to mine, just to buy and sell and make a modest amount in a shortish-med timeframe (not talking years).
What should I be aware of? What are the newest or fastest growing with a high gain? I read, like everyone has, about SOL and how in 6 days some person made a ton of money. Obviously not looking to make that amount of money but again, a modest amount.

I have $2.5K I can happily play with to start with.

Not familiar with terms and processes so.. talk to me like a monkey. lol. Goal is simple... buy/sell and have that paid out to my bank.

Looking forward to your responses.

STEP 1: Buy crypto on a exchange (ex. Coinbase, kraken, binance,...) STEP 2: move to wallet or cold storage (ex. metamask, phantom wallet, trezor, ledge,...) STEP 3: hodl till you remember you bought a meme coin 5 years ago and search for the hardware wallet and realize you are now rich...

live happy ever after 

[firehawk1]

lol. Thank you for the warm welcome and excellent responses. I truly appreciate it.

I am fine with the $2.5K I am planning on spending on buying a positive coin but need the "Support" or guidance from this community (to begin with) on how and when to maximize the return like we all see and hear I suppose.

[bluebit25]

lol. Thank you for the warm welcome and excellent responses. I truly appreciate it.

I am fine with the $2.5K I am planning on spending on buying a positive coin but need the "Support" or guidance from this community (to begin with) on how and when to maximize the return like we all see and hear I suppose.

I don't want you to dream too much about profits, but learn all the basic knowledge about this market first.

From the perspective of money, investment, economic finance, bitcoin, altcoin, what is decentralization?, what is centralization?, ways to use services in the space,... there is a lot of knowledge that you need to upgrade yourself so you don't depend on anyone. Please learn more here: Beginners & Help

[decodx]

<...>

I hear you.  This crypto stuff can feel real overwhelming sometimes.  Heck, when I first got started, I was confuzzled as all get out! Couldn't tell a Bitcoin from a Dogecoin.   But I'll tell you what I've learned over the years - you cant expect no hand holding in these parts.  Them cowboy crypto traders they wanna see you stand on your own two feet and 

Now don't get me wrong, these folks here are mostly good people.  They'll give you some advice if you ask nice, point you to a few good coins maybe.  But when it comes day's end, your moneys yours to make or break.  Ain't no guarantees in this racket no sir.  Crypto coins go up and down faster than a yo-yo.  You gotta be ready to hold on tight.

My advice? Do your reading, figure out what projects you believe in, then give your wallet a slap on the ass and tell it to buckle up, cause you're in it for the long haul.  And whatever you do don't put in more money than you can stand to lose. 

Best of luck, and happy trails!

[batang_bitcoin]

If it is all about the most basic thing that you must do, since you have a robinhood account. You can start there with a very small amount so that you can purchase and feel the market already. I do not use it so I have no idea if it allows you to withdraw crypto from there. There is no need for tool or such but you need a wallet of yours that you hold private keys and keep those recovery words and never share it to anyone.That is the next step when you are done with buying, to transfer it to your own wallet.

[MFahad]

How do I start buying/investing into crypto? What tools do I need to? What broker do I need? (I do have Robinhood if it helps)
I am NOT looking to mine, just to buy and sell and make a modest amount in a shortish-med timeframe (not talking years).
What should I be aware of? What are the newest or fastest growing with a high gain? I read, like everyone has, about SOL and how in 6 days some person made a ton of money. Obviously not looking to make that amount of money but again, a modest amount.

I have $2.5K I can happily play with to start with.

Not familiar with terms and processes so.. talk to me like a monkey. lol. Goal is simple... buy/sell and have that paid out to my bank.

Looking forward to your responses.

​The way you are talking about Solana, at the time almost all the good and best projects that were getting a while ago at a very low price have now increased significantly. Those who took Solana on $8, and did not waste this opportunity have certainly made a big profit. There are still such tokens in the market, In which a big pump was not found and still found up at a good price. You have good money to invest in Coins, and you can surely make good profit in the future by investing it, but for this you will have to make a good choice and a full market study is essential for you.

On this platform people can tell you about different coins, but everyone has their own idea and choice. Therefore, it is not necessary that you collect the choice of others, but your own information and research is the best. Of course there is still the best time to invest, and the market can dip once again so you have a chance to get it.
​

[Makus]

Your welcome op, to this wonderful forum, I can assure you that you are in the right place. Because I was I newbie like you not knowing what to do from the start of my investment journey when I came to this forum. And this forum taught me all that I kno today, so I believe what worked for me van also work for you. However you started with the right questions, but I must advise you that the only coin I'll recommend to a beginner for investment is Bitcoin.  So untill you have grown to a certain height of knowledge concerning crypto them you can think of other crypto. Reason being that, there are lots of scam projects out there and identifying a scam project requires some level of knowledge.

So first of all, I recommend you learn about
Cryptocurrency
Wallets (private and public keys) seed phrase
Blockchain
Types of coins
Lighting network
Bitcoin network(including the white paper from Satoshi)

[FatFork]

lol. Thank you for the warm welcome and excellent responses. I truly appreciate it.

I am fine with the $2.5K I am planning on spending on buying a positive coin but need the "Support" or guidance from this community (to begin with) on how and when to maximize the return like we all see and hear I suppose.

By "support" you mean that you want someone to take your hand and walk you through the process of investing, holding your hand every step of the way? If so, the answer is no. It dosn't really work that way.  If it was so easy to get rich quick, way more people would be rich, but the reality is that the majority of traders are actually losing money!

So if you need help understanding something specific, then definitely ask.  But this community cant be your personal finance advisor or give you a step-by-step guide to getting rich.  You gotta figure a lot of this stuff out on your own through trial and error.  That's just how investing goes.  It's a rollercoaster, not a nice straight line up.

[oktana]

Buying cryptocurrency isn’t a difficult thing. It’s just about the same as buying from an online store. For a beginner, I do not know which DEX (decentralized exchange) is easier to understand. So maybe you should look at Binance which is a CEX (centralized exchange). As for what to look out for, you’ll have to learn to do research in cryptocurrencies… a couple YouTube videos and google search should help a lot. Very important so you do not blindly follow influencers or some else’s opinion.

[wxa7115]

lol. Thank you for the warm welcome and excellent responses. I truly appreciate it.

I am fine with the $2.5K I am planning on spending on buying a positive coin but need the "Support" or guidance from this community (to begin with) on how and when to maximize the return like we all see and hear I suppose.

You do not seem ready to trade, it is nice that you already have a good amount of money for that purpose, but you seem to have the wrong idea about this market and the forum, the community can give you its support by helping you avoid obvious scams, selecting the right wallet, indicating you the right practices to hold your coins and giving you a list of exchanges where you could buy the coins that you may like.

However while the community could also suggest different coins that each one of its members believes could do well, it really seems as if you want somebody else to do all the work for you, and this is not the right attitude to have in a market in which its participants proud themselves about being their own banks.