Testing Cryptocurrency – Bitcoin and Alternative Coins

Is it Too Late To Get Into Bitcoins (Cryptocurrency)?

What do I need to start buying cryptocurrency?

Is it Too Late To Get Into Bitcoins (Cryptocurrency)?

What do I Need First?

A Wallet and Coinbase –  is a good start

Convert USD, GBP, EUR and other currencies into BitCoin. You don’t have to buy the whole bitcoin. You can buy partially with a minimum of £1.99

There are no fees on Bank transfers there is a fee credit card of 3.99% in the UK.

Once is transferred into your Bitcoin-BTC wallet, you will need to transfer the bitcoin to an exchange, where you can trade it with another alternative coin.

I have used Poloniex to start with but I’m considering a bigger trading exchange platform as a suggestion from other Cryptocurrency traders are doing, the tool is called Binance.

Based on analysing the alternative coins using this website which collects information in real time of each alternative coins coinmarketcap.com, plus the officials Bitcoin and Etherium, I’m looking for invest my other 33% into the ones which have potential of higher gains, in between x10 and even x100

You will need to research yourself if you think the alternative coin has a potential for growth based on their proposition.

It grows on demand, more people joining in, more valuable the coin will get.

In summary, my investments are

33% on less risky, if that means anything, or I should say, a more stable and less volatile. The only two Cryptocurrencies I learned so far are Bitcoin BTC and Etherium ETH. This is for the long-term investment.

33% on Lending on platforms that offers these facilities and give good payout. I’m searching for another good and reliable platform. I have made the mistake of trust BitConnect and I have even suggested here and realised it was a mistake. I should have listed to Suppoman from a course in Udemy I have taken. Once it pays out, I prefer to withdraw and reinvest it somewhere else using an exchange like Poloniex or Binance.

33% on exchanges playing with the new alternative coins and testing the markets where can be high losses and absolute high gains. The goal is an alternative coin that I could potentially have a 10x or 100x value increase of the capital invested. Ambitious but possible.

I’m to create a content video going through this step by step.

I have not detailed what FIAT means, and history of Bitcoin, what is Etherium and why is stable as Bitcoin, Alternative (or Alt) coins and why suddenly became so popular. Also, there’s more to learn what and how is P2P, Mining, ICO, Tokens, etc…

There’s a tremendous learning curve on this and I think everybody only scratching the surface on this.

***I must warn you, those places I’m referring by no means can be the ultimate place for you to trade cryptocurrency. I’m not a financial advisor, this is based on my experience and for what I hear, there are a lot of opportunities out there but there are also a lot of scammers out there too. Do your own research and if you are not sure or is too good to be true. Be bold but conscious.

Let me know how you are getting on. I’m getting into it just recently, pretty much 6 months, not doing much and in the past couple of weeks more active. Any discussion in the about those experiences, I think is valuable. It is gaining more experience and exchange knowledge.