Hello everyone,
thanks for any help in advance.
I am considering investing in some currencies and assets that I have been watching rise and fall recently, even some that are a little bit less common and are only in certain exchanges.
I want to start by getting some bitcoin purchased and then be able to invest in the other currency right when I think the charts look like they are at a low, and then sell or exchange when it is at a higher rate of BTC than it was when I bought.
My problem is I have no idea how to do any of that yet.
Is it possible to buy and sell coins, quickly and within those windows of time when you think its at a low or a high?
Or is it possible to convert between BTC and the other currency or asset within that timeframe on the exchange site or something like that?
Also, what is the best method of buying BTC and then storing it?
What is the benefit of taking the money into a wallet, does it cost money to add/remove it from the exchange?
thanks for any help in advance.
I am considering investing in some currencies and assets that I have been watching rise and fall recently, even some that are a little bit less common and are only in certain exchanges.
I want to start by getting some bitcoin purchased and then be able to invest in the other currency right when I think the charts look like they are at a low, and then sell or exchange when it is at a higher rate of BTC than it was when I bought.
My problem is I have no idea how to do any of that yet.
Is it possible to buy and sell coins, quickly and within those windows of time when you think its at a low or a high?
Or is it possible to convert between BTC and the other currency or asset within that timeframe on the exchange site or something like that?
Also, what is the best method of buying BTC and then storing it?
What is the benefit of taking the money into a wallet, does it cost money to add/remove it from the exchange?
You can make immediate transactions on exchanges like Poloniex, Bittrex, and I think Kraken and some others. Those exchanges allow bitcoin and altcoin trading that is very quick like day trading if you want.
Exchanges like Coinbase are more for initial buys of bitcoin from funds in your bank account or to sell bitcoins and send the money back to your bank account. Basically what I've done is use Coinbase to buy bitcoins with money in my bank. Then I send that money to Poloniex to fund my trading account and that is where I do my trading.