So you've signed up on Coinbase or another local exchange, but want to invest some of the other 1000+ cryptos currently trading. The easy solution is this:
- Sign up on an exchange that caters to many cryptos, like Binance (let's call it your "alt exchange").
- Transfer a small test amount to the alt exchange using Ethereum.
- Once your transaction has appeared on your alt exchange, transfer out as much as you like.
- Use transferred funds to buy alt coins!
- (optional, but suggested for large amounts) Move the alts to cold storage.
Now, that is the barebones explanation, and here is the details for each step. Obviously, I'm assuming that you already have an active account with an exchange, and that the exchange doesn't trade the currency you want.
- Sign up to alt exchange. I asked around, I tried to find a US based trustworthy exchange that actually works. I've tried Kraken, but it's been about 50 days since I told them that their ID verification step is broken and won't allow submitting the form. I've tried Bitfinex, but they no longer support US customers. I've looked at the US exchanges that are in-line with governmental regulations.
Ultimately, I went with Binance due to the general positive opinion of other Redditors. I can say, it was super easy, I just validated my email, and I was able to start transferring funds in. Do I trust them? I'm not sure. Cold storage will be the plan for me if these values increase dramatically.
That being said, do you own research in regards to what alt exchange to pick. I'm not endorsing Binance, it just happens to be the one I picked.
- Transfer a small amount. Because there is no room for errors, I highly suggest transferring a tiny amount just to be absolutely sure that your funds will transfer successfully to the address provided by your alt exchange.
- Transfer the rest. Since transaction fees are way too high with Bitcoin at the moment, using Ethereum gets around both the long delays and expensive fees. You could also use Litecoin, but it depends on your alt exchange. With mine, they trade all their products using either Bitcoin or Ethereum.
If you don't have Ethereum, either buy some or trade out a different currency - be sure to mind the market value of each before doing so! If you really want to, you can just transfer Bitcoin, but you will wind up paying too much in fees, so just buy Ethereum for the amount you want to invest in alts.
I personally use Coinbase/GDAX as my main exchange, so I transferred my funds first to the GDAX side, then made a "withdrawal" to the Ethereum address that the alt exchange provided.
- Buy alts! Using "Limit", you can place an order to buy at a specific price. If that price never happens, you miss out. If the market hits that value, all orders are processed, but there is a chance your order will not be filled in full if the market goes back up again. You can try setting a price a few pennies off of a whole number which is usually the prices that receive the largest orders.
If you just want to buy at the current market price, just select "Market" and go. This is the safe way to buy at the current price.
For exchanges that do not use the US dollar as a baseline, you will have to account for the value of both currencies that you are trading between. If Ethereum has been rising while the actual value of the alt coin is stable, the relative value of the alt coin will be less, since Ethereum's buying power is increasing and the alt's is not.
What this means is that the value may appear to be dropping, but if Ethereum is having a sharp rise, it will make the alts not on the same increase appear to be losing value. This is where looking at the estimated USD of the alt is important. Conversely, if Ethereum tanks and the alts aren't, they will appear to be worth more.
Further, the price relative to Botcoin will be different as well, so be sure to check the value of both before selling off any alt coin.
- Cold storage! It's pretty much a given, if you want to be safe with your crypto portfolio, use cold storage. This moves your cryptos in to an address that only you have, so the burden is on you to secure it and make sure it can't be destroyed in a fire or lost by theft or time.
I'm not sure the best way to do this for alt coins, so research the process for each coin you buy.
Summary - I finally did something I have been trying to do for a long time now. I wanted to buy Ripple months ago, and at that time, it was about 40 cents. I couldn't figure out how to do it. It was much like how I looked in to buying Bitcoin a decade ago, and had no idea how to do it, even though I'm a coder and have been using computers since 1970s. The amount of research that I needed put me off.
Hopefully, my experience will help those of you putting it off while waiting and hoping that your current exchange will expand their offerings. Well, if it is Coinbase, they already stated a day ago that they have no immediate plans to add any other currencies. Don't wait, don't miss out.
All the best, and happy trading!
Eai meus chapas, fazia um bom tempo que procurava um hobby novo e nada me interessava. Há algum tempo comprei ações da Petrobras(naquela abertura de capital 8 anos atrás) e bom... me fodi. submitted by
Mesmo assim sempre me interessei por Day Trading e com essa explosão do Bitcoin, resolvi tentar com Alt Coins... Comprei R$2500,00 em Bitcoin/Ethereum e coloquei no Binance pra começar a brincar.
Uma semana depois, estou 20% positivo.
A adrenalina, o prazer de ler as candlesticks e saber exatamente quando comprar e quando vender, reduzir perdas... meus chapas, é bom!
Mesmo assim, na minha cabeça, considero esse dinheiro perdido... Mas queria compartilhar com vocês pois estou gostando disso... até mais do que minha profissão...
Se algum redditor se interessar coloco o material que eu usei pra estudar e tiro dúvidas...
As a crypto trader, I confess to joining the world of crypto-currency trading late on. Having heard about Bitcoin many years ago, but deciding not to invest in the opportunity due to not understanding the concept. After all, why anyone would deem a virtual currency as valuable?
I myself, like many others now invested in various crypto currencies, missed an opportunity to make incredible amounts of money.
Back in early 2017 my interest in the world of crypto-currency was re-ignited, having heard about a young entrepreneur who goes by the name of Vitalik Buterin, and of his steely determination to develop Blockchain technology in the form of Ethereum.
I spent a few months sat on the fence. It was only around June of 2017 I finally decided to take the plunge, and invested in some Eth, which I still hold to this day. It was only as I began studying Blockchain technology, dapps, ICO’s and all of the other elements of cryptocurrency, I began to realise there were also a lot of emerging start-ups who are absolutely determined to take Blockchain to the next level.
I began researching into NEO, labelled by some as the “Ethereum of China” – A label that is unfair when you actually delve further into the tech and understand its potential. There are many arguments to suggest that NEO technology is superior to Ethereum, but there are also strong arguments as to why (from an investment perspective) it makes far more sense to invest in Ethereum. I will not entertain the “Ethereum vs. NEO” discussions, as this often descends into “fanboy” my-crypto-is-better-than-your-crypto arguments. In my personal opinion, both technologies can quite happily co-exist, and both will be front-runners in this space, but that is just my opinion.
There are plenty of reddits and websites with tons of information on both Ethereum and NEO, so it is pointless to spend time going over the same information. Do your own research if you do not understand them! Besides, the fact that you’ve searched for HPB means that hopefully you have already done some background research. The point of this post is to discuss High-Performance Blockchain, which has the ERC-20 token HPB I only discovered this coin on the 11th January (5 days ago at the time of writing this), and I would firstly like to give thanks to another redditor (doogie88) for sharing the information on HPB that laid the groundwork for me to explore this fantastic opportunity further.
To read more about the introduction to HPB, please read here: HPB breakdown
Ok so hopefully at this stage you have a basic idea of what HPB is and what the company are trying to do. For anyone too lazy to read it all, here are the salient point in bullets:
• Blockchain technology currently suffers from bottlenecks. These are latency and throughput. Latency is the amount of time you have to wait until a transaction is processed. Throughput is the number of transactions that can be processed in a particular amount of time.
• In theory, if all the peers of Ethereum were to use 10 Gig NIC cards with 16 core processors, they would be able to achieve a transaction rate of around 1,000 TPS (transactions per second). Currently, it handles 15. As Ethereum scales this will not be acceptable, hence the reason for the development of scaling solutions.
• Transactional delays cost people money! If the delay is more than even a few seconds it may be unable to meet user needs, thus seriously reducing the competitiveness of the application. These delays greatly of course affect the general user experience.
• HPB aims to address Blockchain bottlenecks by creating an architecture similar to an API operating system.
• The software architecture element of HPB will provide accounts, identity and authorization management, policy management, databases, and asynchronous communication on thousands of CPUs, FPGAs or clustered program schedulers.
• HPB is a completely new architecture that will be capable of supporting 1,000,000+ TPS and will support authorizations within seconds.
• To achieve this, HPB will harness parallel processing and leveraging specialist TCP/IP offload engine (TOE) Hardware chips
• HPB’s hardware acceleration engine will be able to maintain a large number of conversations with a huge number of nodes, and it will not have to wait until a complete block is released.
• HPB is expected to produce a new block every 3 seconds. At any point, only one producer is authorized to produce blocks. If a block production fails at any time, then crucially that block is skipped.
• It’s estimated that in just 1.5 seconds, a transaction will be identified and confirmed on 99.9% of the blockchain.
• HPB founder Wang Xiao Ming is the author of multiple books, and has been involved in Blockchain technology for many years. Wang Xiao Ming tech blog
• HPB Beta1 is to be launched in Q1 2018
• HPB Beta3 is to be launched in Q3 2018
• HPB full release in 2019
• Partnership announced with CPChain
So why do I think it is such a good investment opportunity? Well apart from the actual project details that sound incredible, there is also the fact that this has almost zero marketing to the western world. Most of the links and images below I found whilst trawling through Chinese websites and they are quite difficult to find with just a standard google search! It’s also currently only listed on two relatively small and unknown exchanges such as Bibox
Even though this exchange is small and relatively new, the trading volume on HPB is already ramping up! As of today, the market cap is tiny and has huge potential for growth, especially if the rumours of being added to Kucoin and Binance actually happen.
I’m extremely excited about this one!
If you feel inclined to donate some ether or tokens, my wallet is: 0xd7FAbB675D9401931CefE9E633Ef525BfBa7a139
Some other useful Links below: HPB Whitepaper HPB News TOE github CPChain partnership website
. Videos - Sorry they are in Chinese and I don't speak Chinese HPB presentation @ blockchain Summit 2017 -In Chinese Video interview of Wang Xiaoming - In Chinese
Various images related to HPB, the TOE NIC card and the founder Wing XiaoMing Close-up of HPB TOE NIC Board HBP card running Wang Xiao Ming Proudly Displaying HPB TOE NIC Board Wang Xiao Ming presentation at Lujiazui Blockchain event Wang Xiao Ming presenting at the BTAS2017 summit Wang Xiao Ming Blockchain presentation Jason Hu presentation at University of Science & Tech in China HPB Hardware development design review HPB – New offices HPB – New office at Christmas more images - 1 more images - 2 more images - 3 more images - 4 more images - 5
My wallet address, if you found this useful and would like to donate is: 0xd7FAbB675D9401931CefE9E633Ef525BfBa7a139
Redditor records video to show fake information being used on the website. A Redditor has exposed the latest Tech Space crypto mining scam that lures people in claiming to be one of the finest cloud mining services available. Redditor Hi Senpai explains that the crypto mining scam service is claiming to be stable mining to maximize profit ... Please hold the front of the ID card and shoot the video with following content: I am xxx, I trade Bitcoin / Ethereum and other cryptocurrencies. I promise that the source of funds is legal, and I guarantee that any information or materials submitted is true, legal, and complete. Cryptocurrency or fiat money is not used for any illegal purpose. I bear legal responsibility for my actions. Ein Redditor war nahe daran gekommen, 533 Bitcoin zu finden, die auf dem Laptop seines verstorbenen Bruders gespeichert waren – zu aktuellen Preisen 5,2 Millionen Dollar wert. Die Bitcoins waren auf einem Laptop gespeichert, den Autor “Shotukan” seinem im August letzten Jahres verstorbenen Bruder geschenkt hatte. Binance uses two main pairs for trading. Bitcoin (BTC) or Ethereum (ETH). Lets use Bitcoin in this example since it is the most popular, although, at the moment it is quite expensive to send and receive. Type "Bitcoin" into the search bar in the top left hand side of the Deposits and Withdrawals Screen and click on deposit. You will be now see ... Ethereum is one of the largest cryptocurrencies to date. Created by Vitalik Buterin, it has a lot of distinct features that differentiate it from Bitcoin.Bitcoin was created to be a peer-to-peer digital currency and Ethereum was created to serve as a decentralized computer featuring smart contracts. Digital asset manager Grayscale Investments bought about 50% of all newly mined ethereum so far this year. It now holds the equivalent of 1.1% of ETH in Digital asset manager Grayscale Investments ... Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume Favorites BTC Markets USD Markets USDⓈ Markets ALL. Pair. Coin You can they buy bitcoin on Coinbase Pro, or buy a stable coin like USDC and then transfer that to Binance, then buy BTC on Binance. Reason for this is that you don't pay fees to do bank transfer to Coinbase Pro (you do have to pay fees if you do wire transfer or pay with credit/debit card on Coinbase pro). USUALLY BTC is cheaper on Binance than on Coinbase pro, but lately I feel like Coinbase ... Binance provides easy and convenient ways for you to buy Bitcoin instantly, and we put our best efforts to fully inform our users about each and every cryptocurrency we offer on the exchange, but we are not responsible for the results that may arise from your Bitcoin purchase. This page and any information in it is not meant to be interpreted as an endorsement of any particular cryptocurrency ...
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