Alright thanks.

I found this set of guides here: getcrypto.info if you want to lmk what you think

It explains how to purchase and exchange various cryptos. It suggests storing them all on local wallets on your own PC. Most of the guides suggest buying Ethereum via Coinbase and exchanging it for whatever crypto you want. Is that good advice? ETH have any processing fees like BTC's exorbitant ones?

I day trade so cant be bothered moving coins off, i got a ledger with a random amount of shitcoins to keep me from panic selling

I made a joke saying i bought 1k in poe cuz famous poet, 3 days later it moons. Researching tech is almost a joke in current market

Eth has almost nonexistent fees compared to the other options for buying in

So what you're saying is start at the lowest coin, mine until I have like 500 coins, and hold until it surges and I can sell it for like a million dollars.

Hit all of them from the bottom up, that way I can diversify my portfolio and start with the highest potential gains first

Yep thats how it works, its amazing how someone with no experience managed to figure out the early retirement method

Seems like a good source of information for newcomers. I dislike the website though, but on aesthetic reasons. Ha

Local wallets (cold wallets) are the most secure, and really recommended if you're investing large amounts of money. I feel comfortably, personally, using desktop wallets and keeping things on exchanges where I can activate 2FA authentication. It's all a personal decision though.

Ethereum and Litecoin on Coinbase are definitely the best bet for trading. You'll want to look first to see what pairings (if any) the exchange you plan on using has for the coin you want to get. Sometimes it'll have pairings for both Ethereum and Litecoin, and so you can buy either one you want and use it to trade, or sometimes it'll have a pairing for only Ethereum or only Litecoin, and so you would want to buy that specific one for trading.

You can avoid fees by sending either your Bitcoin, Ethereum, or Litecoin first to GDAX: https://www.gdax.com/

GDAX is owned by Coinbase, so if you have a Coinbase account, you have a GDAX account. It's just the "less user friendly" version as compared to Coinbase UI. Sending your coin from Coinbase -> GDAX is free (since it's owned by the same company), and then if you send it from GDAX -> Exchange, GDAX will eat the fee. This addresses the fee aspect, however, Bitcoin has horribly slow transaction times, so even when going through GDAX, Ethereum and Litecoin are still better choices.

If you send directly from Coinbase -> Exchange, then Litecoin and Ethereum will have a fee associated with the transfer, but the fee is very small (especially compared to Bitcoin).

This post was edited by Handcuffs on Jan 4 2018 10:12pm

This is very helpful thanks so much. Is it worth sending ETH to GDAX first then or is the fee inconsequential?

Also I'd heard some suggestions to use Kraken over Coinbase for purchasing ETH/BTC, know anything about the differences there?

I agree. Tech research is long term investments, I think. Anything else can be done based purely off of news, social media increase and hype, and you'll make profit. Ha



I mean, it's more like "Mine or stake coins and hope for the best". Ha

Well, "inconsequential" is relative. I would recommend just pretending to send whatever amount of Eth you want to send, and it'll show you what the fees would be hypothetically if you decided to do the trade. So, you'd be able to decide for yourself from there.

I've never used Kraken before, but I have no complaints about Coinbase and use it every time that I want to get Eth or Litecoin to trade/exchange. Coinbase also let me use my debit card to purchase, which was a lot quicker in getting funds that doing it via bank transfer, so I was very happy about that.

Awesome awesome. Is there any reason not to send it to GDAX? Considering it's basically free money.