Crypto Newb (Exchanges)

alleskaput · 2018-01-15T04:24:01+00:00

I would be wary of crypto. Coinbase appears to be stalling transactions and locking accounts for weeks or longer. Trying to get your money out of them appears very hard as well. Not sure what good making all those riches people brag about here is if you can't cash out.

I began looking into it recently due to all the threads pushing it, and it seems like every exchange that controls fiat to crypto has no accountability and regularly fucks people over. The alt exchanges seem to run faster and has no issues, so it definitely has to do with the appeal of stealing/hijacking the fiat by greedy fuckers.

Be very careful if you insist on going into this. In my research, I have found there are ATM's in some locations one could go to and purchase the bitcoin, then you could sign up to one of the alt exchanges where things run more smoothly, but this still leaves the problem of cashing out. One thing you could look into if you trust strangers is a site called localbitcoins. They seem less strict on verification, but the con to this is as I said, trusting strangers not to rip you off.

If you do this, remember every trade you do is a taxable event now due to clarification in the tax bill. Keep meticulous records of the price you paid for the Bitcoin and the value when you traded it for alt as it is now taxable once the trade is made. Keep in mind that you do not have the cash in hand for this tax you owe, it is now tied up in the new alt coin.

I am still on the fence myself, but the lack of an exchange that seems honest will probably keep me from dabbling as I have been considering. I am no expert by any means, and this is just what I have learned in the last couple of weeks. Google every exchange for reviews and you will quickly see what I mean. Good luck man.

MadPreacher1AD · 2018-01-15T02:40:27+00:00

Wrong sub.

alleskaput · 2018-01-15T02:51:03+00:00

binance, bitfinex, bittrex, bibox, cryptopia, poloniex, kucoin

don't buy stuff at the top
buy low, sell high
have patience
only put in what you are willing to lose
do your research

RogueRenegade · 2018-01-15T03:57:23+00:00

For the second time in a row, a chick has gotten hired over me, so I'd like to invest in the meantime.

At that point you should be looking for another job. Secure another job and then demean and cuss your boss out. Quit or be fired from your old job, don't look back.

Also for investing, try to take practice until you know what hell you are doing. I've been given $100,000 by the bank to practice with. That's 100k in practice money. YouTube does help a bit to grasp an idea what you're looking for.

one-use-account-1 · 2018-01-15T04:35:27+00:00

Binance is the best exchange I've used. As for buying btc with usd I'd recommend coinbase, changelly, or localbitcoin.

Title	Crypto Newb (Exchanges)
Author	NondeductibleWays
Upvotes	3
Comments	33
Date	January 15, 2018 2:37 AM UTC (8 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/7qgow3/crypto_newb_exchanges/
Archive Link	https://theredarchive.com/r/MGTOW/crypto-newb-exchanges.606996 https://theredarchive.com/post/606996

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