Hello all, I have run so bad in finances that me having bought a large volume of bitcoins this entire week might doom you all.
This is my first post so let me introduce myself, I am a construction bussiness owner that in the last 10 years has lost about 20 million in the stock market, I also lost roughly 7 million in my other hobby no limit poker. I am so unlucky that me using Coinbase this entire week to accumulate 500 Bitcoins can't be good, odds of me winning in this gamble are astronomically rare, just so you know my average has been $418 this week, I also own a small amount of bitcoin bought a few months ago at $644 and that didn't go well. Good luck and prove me wrong!
Yes, luck is part of the strength.
But, a good beginning is half the battle , this is where you make a mistake.
In fact,
Coinbase is not a true Exchange, it's a changer just like okpay, bitpay, egopay, etc. You buy bitcoins on Coinbase that itself cost your extra more fee, and you can't do some decent trading on it.
The other hand, there is a tradition on Coinbase, do you know?
Whenever there is a greater volatility in Bitcoin price, they will prohibit you buy/sell bitcoins on Coinbase, until the price recover smooth. Oh fuck, if it would not allow us doing business when the price changes, how to make money?
So you want to make money with Bitcoin, firstly you have to choose a Bitcoin Exchange.
Usually, Exchange charge fees 0.1% - 0.5%, but changers would charge a fee at least 1%, common 2%, even I had seen 7% on some changers.I suggest you go the following exchange:
1.
LakeBTC https://www.lakebtc.com/, best for North American and China users, but more suitable for bulk trading, and it's difficult to ensure profits of retail trading users.
2.
Bitstamp https://www.bitstamp.net/, best for Europe users, but their KYC verification is annoying and slightly higher fee compared to other exchanges.
3.
Btc-e https://btc-e.com/, Except Bitcoin, if you want to trade another crypto-currency, btc-e is best.
More Bitcoin Exchange list you can see here:
https://bitcointalk.org/index.php?topic=695082.0For Europeans Kraken is much better. No annoying KYC (no it's none of your fucking business where the Bitcoins came from. Fuck you).