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A Quick Guide To Investing In Cryptocurrency

ib4

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Staff
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#1
This is a lot of info. I saved off at Part 4 I will continue to write the rest shortly.

Disclaimer:

We are not responsible for ANYTHING YOU DO in regards to cryptocurrency investments. This is simply an optional guide on how to begin investing into crpytocurrencies.

There are many options for doing the following. The ones stated here are just a simple recommendation to get you going. Using these options are completely up to you and we are in no way responsible here at WTF.com

Part 1 - Setting up your accounts
  • You need to open an account at www.coinbase.com
    • This account allows you to purchase the major cryptocurrencies such as Bitcoin, Litecoin, Bitcoin Cash, and Ethereum.
    • In order to invest in other currencies, you must start here because the primary coins for purchasing other coins are Bitcoin and Ethereum.
  • If you have a coin in mind, check its status here coinmarketcap.com and here www.coingecko.com
    • The first site helps you check the coins market data. You can find out the price, its price over a period of time, its market cap, its supply, its circulating supply, and the markets its listed on.
    • The second URL allows you to see the coins footprint and activity. Aside from the actual technology they are advertising, a coins reputations is, in a way, based on their clout, internet footprint, github activity to show the developers are working, news related to the coins company/team. These all have major impacts on its price.
  • Next you will need to join an exchange(s). Here's a few:
    • Bitfinex
    • Poloniex
    • HitBTC
    • Binance
    • Bittrex
    • You can see the whole list orders by 24h Volume HERE
  • Now you are ready to get started!
Part 2 - Purchasing a major coin
  • Login to Coinbase
  • Lets add a bank and card to the account...
    • Select Settings then select Linked Accounts
    • Below is an example of a MasterCard, Paypal, and checking account all linked to Coinbase.
    • The debit/credit card is the quickest way to purchase whereas a bank account will take 3-5 days.
    • Also, you will have to verify these accounts. A small amount is charged to your account by Coinbase. They ask you to type in how much was charged and they verify the account with that.
    • 1516049932322.png
  • Lets Purchase some coin...
    • Make sure the tab you are in is the Buy tab.
    • Select the coin you wish to buy.
    • Below is an example on purchasing $100 in Bitcoin from my Primary Bank account
    • It is important to understand that because these are worth so much each, if you don't purchase enough for one whole coin, you will see the amount in USD represetned as 0.xxxxxxxxxxx.
    • 1516049786151.png
    • Notice to the right your total purchase with fees.
Part 3 - The Exchange
  • Login to your respective exchange. I will be using HitBTC. Lets get the Bitcoin wallet address...
    • You will need to locate your Account or Balance page. Most of the time, this is where your wallet addresses are.
    • Below is an example of the page when you arrive. The pic below that is when you click the plus symbol next to the currency name, in this case we will use Bitcoin, and the deposit address appears.
    • 1516050394681.png
    • 1516050472685.png
    • Your deposit address should look similar to this
      • 3FTHit3PVxxd9KK32gcVPzjSQJD3XUjjLu
    • You need to copy this address, DO NOT TYPE IT, and take it to Coinbase. If you type the wrong address and send you coins, you will never see those coins again. There is no refund process in crypto.
  • Lets send the money from Coinbase...
    • Head back over to Coinbase and select the Accounts link
    • Below is a picture of the page you should be on.
    • 1516050823502.png
    • Chose the "Send" button under the name of the coin you are sending. In this case we are using Bitcoin.
    • Below is an example of what pops up when you click "Send". You input your address, select the mount you want to send in dollars. Observe the fee it adds to the amount you're sending.
    • 1516051840666.png
    • Once you do this, you will see in your activiy a "Pending" transaction. Sending crypto is not a quick game. The crypto itself has to go through "confirmations" before it gets to its destinations.
    • Visit this site https://live.blockcypher.com to check the status of your transaction.
Part 4 - Invest that Bitcoin yo...

Part 4 coming shortly...
 
1,903
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#5
If you say so!! :laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh:

Ok...It's Only a matter of time before one of us will be proven correct. In the mean time, I don't think I want to invest in a currency that is widely used in the deep web to fund terrible and unspeakable acts for the sake of entertainment.
 

ib4

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#6
@cinderelabadass youre pure comedy!!

I can’t tell if youre fucking with me or not!!

If you arent, what you’re doing now is the equivalent to reading a book cover and not the book, or reading the headlines and not the article, or believing everything Trump says.

I got a question, do you still use the American dollar? Because you’ve literally touched money that has funded a nightmarish amount more of, “unspeakable things” than crypto currency every has.

Oh and guess what you have to use to obtain cryptocurrency? Fiat! Aka US DOLLAR!

Guess you’re gonna have to barter with shale and pistachio shells from now on! Those definitely haven’t been used for unspeakable acts :)
 
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#7
Hmmm, you have your point, but tell me, is crypto currency making it easier for exchanges between countries on all levels? Is that always a good thing? In truth I have not looked into crypto currency much, but I can see the very good side and the very bad side. I personally do not have a need to invest in it. But now diamonds or gold....now we are talking my kind of investment! Not shale or shells, and I have turned a great profit with gold and diamonds that was far easier to do than this tutorial. Not saying it's hard or impossible. My Investment is easier. Also, IF (big if here) IF we ever encounter a disaster situation like hurricane Katrina again, or any significant situation where the net is down and you have no ready cash, a diamond ring will feed you, but a bit coin won't. It's on the net! If you didn't cash it in before hand because you had no warning maybe, you are screwed. But jewelry will feed you, it was nearly 3weeks before we got water and ice after Katrina, yes, we sold a ring for food. It worked, we had no web and no cell service.

P.s. I Don't Like a FUCKING THING ABOUT TRUMP!!!! OK?
 
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Jung

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#8
Diamonds or gold will never increase by 3000% in only a few months. I've seen this kind of return 100s of time with cryptos over the past 5 yrs.

Diamond is a particularly poor investment as the entire market is based on artificial scarcity.

Gold or diamonds are more likely to get you shot during a natural disaster than anything lol. In reality, you'd be in the same boat as anyone else without a stockpile of cash. Cryptos are great for turning $500 into several thousand in a few short months. I have a few stacks in my gun safe for such times, thanks to Bitcoin.
 
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#9
So if a earthquake comes through or a tornado let's say, your crypto cash will save the day? Who will buy it? Are their easy ways to convert it to cash in that event? Is it common knowledge that your currency is that valuable where you are? I don't think so where I am, down in South Mississippi. Got a lot of country boys who don't know what that is much less care.
 

Crazizniac

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#10
She may just not understand the opportunity that volatility present to investors, some people just aren't wired for gains in market downturns. Literally any news is good news in equity markets as well as currency markets. By the way the cryptocurrencies are freedom. Just like solar is freedom and guns are freedom.
 
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Jung

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#11
So if a earthquake comes through or a tornado let's say, your crypto cash will save the day? Who will buy it? Are their easy ways to convert it to cash in that event? Is it common knowledge that your currency is that valuable where you are? I don't think so where I am, down in South Mississippi. Got a lot of country boys who don't know what that is much less care.
What lol? Cash is cash. It's just easier to make investing in cryptos due to the volatility and unregulated markets.

On a normal day to day, I can spend Bitcoin anywhere Visa is accepted with a special card.

My cards worked for the most part during Katrina and I took out a bunch of cash before hand anyway.
 
#12
No, truth be told I never gave it to much thought, until here recently I have stupidly been living in a life where we all have our own departments to care for he learn about and honestly that took up a lot of my time, and any time I asked to be taught something there was no time. But my life is changing rapidly and I'm needing to learn more about way more things rather fast right now. I need a lot of knowledge, and I can't grab it all fast enough. If anything seems even remotely not the greatest, I may pass it up. So yea, some judging a book by a cover shot going and just trying to learn what I can.