Crptocurrency and Bitcoin

Self ^ | 03/13/2022 | Self

[Redcitizen]

I'm interested in getting into Cryptocurrency and Bitcoin. How do I start and what do I need to know? Any recommendations on what is a good bitcoin/cryptocurrency t,amounts to buy?

What else would I need to know?

[Redcitizen]

Thanks for your information. I have already invested in brass and lead so I am branching out.

[aMorePerfectUnion]

If YOU would like to be on a CRYPTO PING LIST, please pm me.

The Crypto Ping List covers the following:

Bitcoin
Ethereum
Other coins built on the Ethereum blockchain mining
etc.

Thanks! For it - or ag'in it, it'll be a wild ride.

Can any members of the FR Crypto List help this man out?

[E. Pluribus Unum]

https://coinbase.com is a crytpocurrency exchange that makes it as easy as opening a bank account.

[C210N]

amounts to buy?

None. Zero. Zilch.

Protect your wealth with either ISO20022 conformant crypto, or *physical* precious metals.

[dila813]

Just stick to a bank that brokers it for you, you will loose a little for the service but don’t have to do anything but buy and sell

[RockyTx]

start your own

like thousands of other people have

[Terry L Smith]

here’s a hint:
look at the volatility of gold, platinum, and palladium ( which was used to make the little ball on the end of parker fountain pens).

multiply those variances by 5, and that would be a slow day in the cryptocurrency market.

next, cryptocurrency is FIAT!!
there is no tangible asset that it is based upon.

you may have better chances in either the pork belly, or, concentrated frozen orange juice market.

[humblegunner]

Crypto is retarded, like Qanon and Scientology.

[Vermont Lt]

Coinbase is a good place to start in the US.

How much should you buy? I used to tell folks they should go to a window with a stack of $20 bills. How many of those could you throw out of the window without hurting? Cut that number in half. Ha ha.

Here is a primer Fidelity has on their website.

https://www.fidelity.com/viewpoints/active-investor/beyond-bitcoin

If you have any specific questions, PM me and I can point you in a couple directions. On FR you will get less serious answers and a bunch of ridicule. It’s not worth plowing through that.

The mindset is similar to precious metals. Put a little in. Buy quality. And if you are putting in more than a “little” you will need to learn about “cold storage” and off line wallets.

[E. Pluribus Unum]

If you do invest in cryptocurrency, you should get some form of hardware two-factor authentication like YubiKey:

https://www.amazon.com/Yubico-YubiKey-USB-Authentication-Security/dp/B07HBD71HL

Black hats have been known to hijack cell phone numbers to gain access to crypto accounts.

[Redcitizen]

Put me on your ping list please.

[Angelino97]

I heard that Coinbase deplatformed some “far right” sites. There are other exchanges.

[tarpit]

Start by reading and educate yourself as much as possible. These are collectively referred to as digital assets (not cryptocurrencies). There are different types such as commodities, utility tokens, and non-fungible tokens (NFTs) [which technically can be fungible]. Originally designed as a peer-to-peer system it has become much more centralized then not with most ethereum transaction now going thru one of two servers on the back end.

Anyhow, the best thing to do is to read and understand the pros and cons before you part with that hard earned money.

[Vermont Lt]

What does that even mean? Coinbase even refused to kick off the damned Russians…

There are not “sites” on Coinbase. They have no idea who owns any address of any asset coming or going.

[cranked]

“....or *physical* precious metals.”

I do, lots of it too.

[Gilderite]

Great learning sources about bitcoin: Matthew Kratter’s “Trader University,” including his youtube channel. Also The Bitcoin Standard and the Fiat Standard, by Saifedean Amous. And youtube videos with Michael Saylor and Andreas Antonopoulis.

[hercuroc]

Coinbase Pro charges less fees than Coinbase but its a little less user friendly.

Ethereum is a good pick...it’s like going to a casino just bet what you’re comfortable with.

You can buy small portions of a coin too don’t have to buy a whole one.

[NewJerseyJoe]

P4L

[Redcitizen]

I appreciate you spreading the word about my question.

[Redcitizen]

Thanks for the primer. I’ll have to read it more than once. Its a good start.

LOL throwing money out the window reminds of that old saying. “ I spent my money on wine, women and song. The rest I just wasted.”