Crypto

Discussion in 'Free Speech Alley' started by LSUpride123, Jul 14, 2020.

  1. LSUpride123

    LSUpride123 Boobies make everything A OK!!!

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    OK, so who plays in this?

    I just got into it. I have followed it for years and wanted to wait until more real-world uses before I jumped in.

    Have been following closely Cardano and VeChain.
     
  2. LSUpride123

    LSUpride123 Boobies make everything A OK!!!

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    Skip to 5 minutes if you dont want to get lost ha:

     
  3. Bengal B

    Bengal B Founding Member

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    Other than Bitcoin how hard is it to sell or convert to cash?
     
  4. LSUpride123

    LSUpride123 Boobies make everything A OK!!!

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    Its actually getting quite easy. There are now some apps you can uses that do it as quick as selling stocks. Now, like a stock, if you have an ass-load of crypto you are trying to sell and there are not enough buyers, you can be holding until a buyer is found, but I have yet to have a transaction that wasn't instant. Volume dependent. The other thing is you can buy/sell 24/7.

    Coinbase is a major one and I use Crypto.com. There are a number of web based services, but I like using my phone.

    https://crypto.com/en/security.html

    Read read read before you do anything tho. Lots of scams etc.

    Coinbase has FDIC insurance for assets on their app. Up to $250K.

    The reason I do not currently use coinbase is because they dont have Cardano listed yet.They have insurance as well but are international.

    The other thing is after you get any crypto, you can easily move it to a secure digital or hardware based wallet fairly easy with those two apps.
     
  5. LSUpride123

    LSUpride123 Boobies make everything A OK!!!

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    Also something to look at, because there are a lot of shit coins, on the exchanges you can look at the market cap. Basically, that is just the total $$ currently in circulation in whatever coin you are looking at. They usually rank them buy total market cap.

    The other important thing is understanding which "coins" share the same protocol/blockchain. A lot of overlap.
     
  6. TBTrumpet

    TBTrumpet Founding Member

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    I got into bitcoin back in 2013 whenever it was about $100 per coin. I earned a few dollars worth doing micro jobs on the internet. I’ve bought a little bit here and there and have a few hundred dollars worth now.

    I have the Pi crypto app on my phone, which allows me to mine that coin. It’s not worth anything now, but it might be in the future.
     
  7. CajunlostinCali

    CajunlostinCali (877) 522-5001

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    Still getting 4X figured out. 2 years into just getting comfortable with a strategy. I don't think I'll have many years left to figure out bitcoins.
     
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  8. LSUpride123

    LSUpride123 Boobies make everything A OK!!!

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    It’s certainly confusing as hell.
     
  9. fanatic

    fanatic (See avatar)

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    What is 4X? I pretty much know my way around bitcoins so if that's harder to figure out then 4x, I need to look into it.
     
  10. CajunlostinCali

    CajunlostinCali (877) 522-5001

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    Forex trading is the means through which one currency is changed into another. When trading forex, you are always trading a currency pair – selling one currency while simultaneously buying another.

    So that's how wiki puts it. It's trading currency. I'm still working with pennies trying to gain confidence and I'm starting to find it in volatility with certain pairs. You can only do so much with pennies, depending on the margains. Confidence is key and you can lose your ass easier than Vegas, but with confidence, you can actually earn a really good living and more. It's all about strategy and finding what works for you. I've tried other people's strategy and got hung. You really must only do what works for you and stick with it.
     
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