I've used Bitfinex and Bittrex. Both about the same really, but very different to Coinbase's usability - you can set stops, limits, market rates etc. You may need existing cyrptocurrencies to trade into certain coins - not all currencies have EUR/USD as a trading pair.
I find it easiest to buy either ETH or LTC on Coinbase [much lower fees than BTC], transfer that over to the exchange and then you can trade from that.
Interesting piece on ICOs:
https://www.bloomberg.com/news/artic...ry-little-work
"Of the 30 biggest digital tokens sold in ICOs this year, the ones without a working product backing their projects did the best in their first month of trading, data compiled by Bloomberg show. And the ICOs with actual products that could be tested? Almost two-thirds of those declined."
Probably a bit off topic here but has anyone used Coinbase. Whilst sat travelling the other day I ended up putting a small amount of money on Litecoin to see how it would pan out and it has increased, I dont want to cash out but after seeing numerous cr*p reviews online it seems I am unlikely to actually get the money back from them?
From the little but I have read it seems to best thing to do, I will look in to it. Any recommendations on other platforms?
It has in deed, I put £50 on it the other day to see how it would go and now its at £125.
I might put a couple of hundred on it and leave it for a while, its not money I will miss and it seems to be heading one way!
Bitfinex is fine if you are planning on spending a lot of money, but they will not let you trade smaller amounts of money. I'm very happy with coinbase for bitcoin, but I wanted to dump my ethereum profits into Iota. I'm in the habit of putting small sums into a new application to make sure there are no problems. In this case, I dumped .08 Ether in only to discover that the minimum trade and, indeed that the minimum amount you can remove, is equivalent to $350 so they got 0.08 Ether out of me for nothing. Call me cynical, but I'm not putting $350 into anywhere that will allow me to deposit money they know I can't use or withdraw. Fool me once.
Here's what you see when you try to withdraw the money they allow you to deposit but don't let you use. I'd assume that this is a nice little earner for them:
As a result I ended up using Binance as it was the only other reputable exchange that was trading ether to Iota. I'm very impressed, although their verification process can be a little slow so get all your ducks in order well in advance of jumping on any movement in the markets. I've also found Metamask useful for shunting small sums around and allowed me to be agile enough to make a decent and hilarious profit out of the first surge of cryptokitties. I'd really recommend having a fifty quid play with cryptokitties as it is, for want of a better word, the cartoon version of all this, or more accurately the bastard child of ether and pokemon. As with so many other cryptocurrencies, you'll enter close to the groundfloor, so after you get bored just make sure you don't lose the passwords as it could go ballistic once ethereum solve the scaling problem that cryptokitties has so cruelly exposed. Me, I'm breeding gerbil faced leopards and fancy duckcats:
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It's the daft end of bitcoin investing, but I'm about half a Rolex up and saving the rump to see what happens when ether starts to scale properly.
Last edited by M4tt; 12th December 2017 at 12:09.
Thanks for the info Matt, appreciate the heads up.
I will look in to Binance later on and transfer the Litecoin across, I will stick a bit more on Litecoin via Coinbase now whilst it's still 'reasonable' in the hope long term it goes up.
"Oh dear, dear. This isn't normal securities trading! Think you can assume your crypto exchange is basically competent and its systems well maintained? Think again. 'I know PHP – how hard could running an exchange be?' isn't the best starting point."
"You also can't assume a crypto exchange isn't going to mess you around. All manner of shenanigans that are completely illegal in proper security trading – bots painting the tape, wash trades, spoof orders, just front-running your customers – are completely normal in crypto. Your threat model is not just the other traders, it's literally the platform you are putting your money and coins into."
https://www.coindesk.com/2017-butt-bitcoins-joke/
Oh God yes, I forgot this point. The first thing you buy is a decent hardware wallet. It's not quite the same as withdrawal to the bank, but it's the next best thing. Then put it in a nice solid box and connect it once and once only to a nice long lead so you don't risk any physical stress or harm at all. Bear in mind that actually dumping money out of coinbase and into your bank is a palaver that you can't immediately achieve so set up the capability with returning a small sum to the bank. In fact if there is one other thing I've learned, practice and test anything you might want to do with small sums a couple of times before committing real money.
Now back at £85,000. (Up from the previous £75,000.)
https://www.theguardian.com/money/20...england-brexit
https://www.fscs.org.uk/
Last week I invented my own system called cryptochainblock100%, so called because it doubles in value everyday! It's great. I put £10 in the spreadsheet last week and now it's worth £1280.
If anyone wants to invest just send me £10, I'll add you to the spreadsheet and you can watch your money grow too.
You can't get your money out again unfortunately, ever, but who would want to when it'll double in a day anyway? Bingo!
No problem buying/selling on coinbase, easy to transfer in and to 'withdraw' into a Trezor.
Thanks again guys, appreciate you answering these newbie questions!
So at the moment I have X amount in Coinbase, Am I best transfering them to somewhere like Binance, GADX etc and trade through there.
Also in terms of the hardware wallet for long term investments such as Litecoin would I be best transferring to the hardware wallet and leaving there for future use?
If for example I wanted to cash out my lite coin how would I actually do this as the Coinbase reviews are terrible with people waiting months and getting no reply/money from Litecoin!
Cool, meanwhile back in the tech savvy world, I 'bred' and sold something similar to the duck above last saturday for about seventy quid and, just to test the system, moved half the money back to coinbase with ease (well, there were delays due to congestion, but it took about three hours in total) and thus out to my bank account. I can get the money out of the wall if you want and buy a small lump of gold, because paper money is itself a fiat currency. You could draw a five pound note too, but I think it would be about as useful.
I'm not saying that there are not risks, In fact I have rather explicitly said there are, but just like buying a Rolex on ebay, common sense, care and a bit of knowledge win the day.
is revolut not the best way to trade in smaller amounts of bitcoin? instant conversion to euro or gbp
Just had a quick look on Coinbase and noticed the £175 I have put on over the last few days is now £360 odd. See how things go over the coming weeks/months.
Some amazing gains had this week for those in BTC, LTC & ETH.
Some amusing comments on here from the nocoiners.
I had a little dabble starting with £100 on the 20/11 on Plus500. I’ve got to be honest I didn’t really know what I was doing so I set a few limits and thought I’d see what happened.
So far I’ve pulled £450 out with around £60 equity left in there. I’ve then put £100 of my profit into Bitcoin in Coinbase which currently sit at £170. I’ve had my £100 back and the other £250 has gone in the watch fund.
I’m putting this down to a bit of common sense an amount I was prepared to lose and a LOT of beginners luck.
I see that litcoin has exploded over the last two days. Will it continue? Who knows.
Sent from my iPhone using Tapatalk
M4tt did you have a problem on Cryptokitties when buying, earlier on today when trying to buy it seems to be working OK however now my funds are in Metamask all I am getting is 'already sold, find another' type message on everyone!
Like so many tech problems I bet this will be solved by deleting the app, clearing you cache and starting again. However, it might just be that you are competing for popular kitties. You could try increasing the gas by about ten percent. Also you probably want to buy this:
https://chrome.google.com/webstore/d...mfdnhejopejopm
as it really helps speed up search. Find a catribute or two you like or which is rare as your base search term, select cheapest, then work backwards until you find a combination that looks good. This way you can rapidly pick up badly valued kitties. At this point I'm not selling anymore. The fact is that they stop producing zero kitties pretty soon dries up the supply of low gen cats and once they sort out scaling then the market could well get much larger. The only thing that stopped a real explosion was the scaling issue. There's a lacunae now, but ethereum is a good idea that will eclipse bitcoin at some point and the first collectibles game in this market isn't going anywhere. Even if the company fell over tomorrow, the cats, and their 256 bit 'DNA' are entirely independent persistent objects in their own right. They are money. It's just going to take a while to work out what the denominations are.
General question re IOTA - for those that have bought, are you using the wallet from the IOTA site? If so, how have you found it to set up and use?
Has anyone managed to get verified on Bitfinex or Bittrex recently?
OR, if anyone has a better option where i can get onto a trading platform and verified quicker it would be appreciated.
I think there's delays across the board, there are so many new accounts being opened everyday, all the exchanges are just swamped. Which is why Coinbase has been up and down so much in the last week.
I agree with the above. I think that Bitfinex has been subject to a DDoS attack as well as having vastly increased traffic, new accounts etc.
I set up an account on Binance yesterday which was quite smooth. I didn't go for the verified option as yet, just wanted to get an account set up. The 2BTC per day limit is fine for me!
It seems that things are quite slow overall - for e.g. some ETH that I bought today on GDAX isn't yet showing in my account for usage.
Coinbase was slow to do everything today, but all the funds I’ve sent them and transferred out have all been ok, and within 24 hours.
There is only one IOTA wallet, and it is a little unusual. Go to the IOTA site (or Github) to download the wallet, you dont need to run the full wallet, just download/use the 'light' version.
Worth reading up on how it works as it is quite clever.
I'm not aware of any hardware wallets with IOTA comparability.
So I’m not the only one experiencing delays on Coinbase?
Sent funds via Revolut (which is now showing as “executed”), but I’ve neither received the usual email from Coinbase, nor is showing the funds on the Coinbase’s app.
This is all very strange, because I would expect at least to have received an email by now, and surely it wasn’t a mistake on my part because it’s not the first time I did a BT over from Revolut to Coinbase.. shall I wait the 2-5 working days? Or start chasing the problem right away?
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Decided to sell all my Litecoins y'day - tidy 502% return. Kept ETH and XRP for now.
Yesterday at 19.48.
I know SEPAs can take up to 5 working days, but surely I should have gotten an email from Coinbase stating the transaction was pending, but I didn’t receive it, that is what concerns me..
To make it worse is the lack of customer support Coinbase has.. its quite shocking how a company that deals with so much money would be so understaffed and under equipped.
I wonder, what is the point in using such a platform to buy cryptos, if I’m forced to wait so long to get my funds in order to make the purchase?
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Duplicate post
When I've made transfers into Coinbase via Revolut, I've received an email from Revolut saying 'executed' quite quickly but have only received an email from Coinbase once its actually in the account, as opposed to one saying pending. Normally takes about a day from sending.