Welcome to Bitcoin Davida!! This site is a guide to help make your cryptocurrency experience a little easier, and more enjoyable.. Will try to share what ever pops up in mind at the time, that I feel will help you out.. maybe this is just a place for beginners and entry level people to find info, and check some charts..
Going to share info on where, and what it entails to purchase your own crypto vending machines!! Links to help you work your way through regulations, where to get the best Hardware Wallets. Anything else I see that’s cool and functional for the crypto community, I will try and researching and post about. Or if you see something new to the market, please feel free to share as well.. I like learning about New ideas and projects, it’s good to be a student in life and have an open mind!!
Also with Live updated prices here, you can check how your coins are doing.. Yes, will be adding other charts for Ethereum, Litcoin, Dash, and XRP Ripple as well!!
The best place to start in the crypto world in my opinion is with Hardware Wallets, safety first. Protect your bitcoins from hackers, why risk losing them when you can store it safe.. Look into Ledger Nano S and Trezor. Read some reviews, watch a few youtube videos.. And see if it’s something you’d be interested in.. I personally have both, in case one adds a new coin to there wallet.. I like to have options.. for example, PIVX, is on ledger nano s and not on trezor yet.. They both have different styles of entering your info, to view the site. Each one has it’s own creative touch.
The other thing I want to talk about is, having a piece of mind. If you’re traveling and don’t have your own personal computer, and worried about checking your account from a public space. You can plug these into any system even a dirty one.
The actual device for the Ledger Nano S or Trezor, have a separate screen.. Actually let me back that up a sec.. When buying a Ledger Nano S, make sure it says “S” in the description.. The older models, don’t have a screen on the device to put your password in on it. which forces you to put your info in the main screen, over the possibly infected computer. That allows for hackers to watch what your doing, as your typing.
So long story short, they made the Ledger nano S.. Which is one of the top rated hardware wallets on the market.. but just want to make sure you order the correct one , with the S.
So yeah, they both have a screen for a reason. just make sure the one you pick has one. On the Trezor I really the size of the screen. The device is just a perfect layout. And as I’m writing this, Trezor at the moment has a preorder, for a New wallet.. Called the model T!! Looks elegant, and with their excellent reputation, I’m sure it will be just great. Myself, I really enjoy reading there blogs, it shows how much time and thought they put into each project. The model T will start off with eight currencies and they say more to come.. That is also exactly why I like to have each wallet, as was explaining earlier.. Each wallet carries a few different varieties of coins.. Also wanted say.. off subject, is I add to this site a little bit here and there , kinda like a blog.. so new info like the model T happens so fast.. the crypto world changes pretty quick, developing at a fast rate.. It gives us more options.. Excited to try it out..
Ok, let’s move on from wallets, because the next step your going to take probably, is purchasing bitcoin or an altcoin. At least it’s good to know places to be able to, if you want. There are a couple different routes, depending on which coin your interested in.. Sometimes it’s easier to just start off with buying bitcoin first, then exchanging it for what ever currency you like. Because they all are exchangeable with bitcoin. Sometimes you can exchange coins into ethereum pretty easy. but some of the smaller altcoins, always can trade with bitcoin..
Sooo picking an exchange. A question I get asked all the time. In some ways, this is the hardest suggestion. Everyone has an opinion, on why a certain one is bad or good. I’m not trying to hurt any exchanges feelings, if you are reading this. Just a blunt person over here, trying to guide people, in forming there own opinion. Lets start with the easiest, and most reliable possibly, that would be coinbase. You can purchase with a credit card, not many pressing questions. That’s the simplest way to get bitcoin in my opinion. Some people would say the prices are a little higher then other places. But, maybe they have more bills to pay for, to be able to have the licenses they need. Especially because they can sell crypto to U.S citizens.
A bunch of the exchanges have different regulations, and wont deal with u.s citizens, or certain states are blocked. That’s also the other reason I think cryptocurrencies will do well in the future. When the rest of the world is aloud to buy and sell, it’s going to be Big. But coinbase has been around for a while and is pretty trusted company. The selection is Bitcoin, Ethereum, and Litecoin. Also those are pretty much the same coins that are on most bitcoin atms.. You will hear those names a lot, a long with Dash. Also I need to say, you do have to make sure you are “verified” on coinbase or the transaction will take around 7 days to process.. so make sure you get verified if you want immediate transaction. After typing this out, it made me think, Bitcoin Atms!! Are really the fastest, least hassle way to start in the crypto world.. because you can just walk up, and have your bitcoin in your wallet under 2 min.. but, we are talking about exchanges at the moment and just giving options.
If I’m doing day trading, the one thing about coinbase probably why I don’t use it more, is you have to buy for what ever price is listed. I’m more into buying with limit orders. Meaning with limit orders, you can basically put in a bid. If it drops to that price then the sale goes through, could be a week tho before the sale happens, if it even happens, but. I like buying that way, seem to get some amazing deals from time to time. My favorite exchange, which not many will be able to purchase with if in the United States, because of regulations. It’s Bitfinex!! Some reason that is my favorite platform to trade on, had a chance to try it out!! They seem to have the best prices, the nicest charts, I actually used some of their charts for this website!
A few other sites that have a good selection in coins, and also have limit orders is, Poloniex, and Bittrex.. I do hear mixed reviews on Bittrex, but will get to that another time, [because they always say don’t leave any money long term on an exchange]. I trade and buy off both those sites.. Still like the mobile version the best on Bitfinex.. I can’t let it go, bitfinex was my favorite haha. But both Poloniex and Bittrex have good mobile version and work fine. You can trade from your phone, on the beach if you like. Also when I say selection, there mite be around 100 different coins on poloniex.. That is a bunch.. oddly tho, with that selection, I didn’t see IOTA token on there, probably in the future tho..
Safe thought, just because somewhere has a good variety of coins, mean that those coins are good. You have to do a lot of research, and learn about the companies before investing. I personally like to see, if they actually offer a product, is the product out, or in a research development stage? What are their future plans? Who are they working with? Ask yourself all sorts of questions. Check reviews.
I look at Reddit all the time and other social media. Like for example an excellent group on facebook is called #1 Bitcoin Group. Also dive into to Twitter. Look in each place to see if the coin has it’s own group, or thread. Probably a Blog out there if they’re real. Loads of info to be found, once you start digging and know what to look for.
Maybe start researching the Top 10 and Top 20 coins out there.. But yes do look over the top 100 too, just to see where coins are at on the list.. But I just want to make sure you all start off on the safe path first, and the top 10 and 20 list are usually safe bets, and real companies. Because everyday new coins are being born. There are over 1000 coins out today.. Some real, some not..
Also another thought, I hear some people say they already missed the boat on Bitcoin, and other Altcoins. Bologna, those where for sure some great prices over the years. But we are still at the party early. Most people don’t even know what cryptocurrency is. They think I’m playing Dungeon and Dragons or something. I try telling them this is a new currency actually lol.
So it’s good to move slowly, invest wisely, do research. Ya got time.
Random thought, sometimes when I’m yappin trying to explain a situation, it could go back and forth between swing trading, longer term investing, or day to day use.. So ask yourself which you are looking to do.. Some of this stuff mite not apply to you
Before I change the subject to much, will list a few more exchanges. We had Binance, Bitfinex, Poloniex, Bittrex, Coinbase, and will add to that list with CoinOne, Kraken, Bithumb, Bitstamp, and Korbit..
A pretty common verification process, is you send in a pic of your I.D and credit card, also bank info needs to be approved.. This is where I’d rather have a third party involved, like have BitPay handle the deposits. So you don’t need to get your bank info involved, or give out all your personal information to each exchange. With BitPay it would way safer I think for customers and less liability for the exchanges.
Good subject to get into are charts., there’s tons of great places to pick from. One that I like to check from time to time is, Bitcoinwisdom.com.
They have there chart game on point to say the least.
You don’t have to be an expert at charts. But it is good to check them and see if you can recognize any patterns. Also I’m sure everybody hears people saying “why is the market so low” or “why the big crash” even when it’s just a little dip or a correction.. So I think people would look at it different, if you check the Full History of the charts. Then maybe a year, then a few months, and so on till you get to it down to a day.. A little bit of a time consuming research project. But I think you will see situations in a different perspective, if you check charts at all time frames. There lots of good people to learn from on youtube as well.. Try Brandon Kelly, his info is usually called Chart Like A Boss. He is one of the best I’ve seen for teaching Chart Techniques.
I will be back and update some more links in here and add more info..