Quote from: LittleTimmy on February 21, 2024, 04:50:32 PM

Hello,

I am a newbie to the forum and Crypto. There is a ton of information here but i'm quite confused in starting my journey. I cannot see members of staff online and don't really know who to contact directly hence my post with some question many may laugh at.

I have $200 etherium which I have purchased via MetaMask, I opened an account and placed $200 in there. I assume I own $200 or whatever the 0.00% it is off etherium. Is this correct? I would like to buy other coins too and put in a lot more money than $200. I would like to buy more etherium, bitcoin, XPR and a couple of other coins.

My questions are below if you can help please

1. Do i do the same and open various wallets and buy the coins that way or do I have to use an exchange like Coinbase or Binance to buy the coins?
2. If/when I want to sell the coins do i withdraw via the wallets or do i go onto an exchange and sell? Then transfer the money to my bank account.
3. Is there a secure wallet I can get with can hold all the coins in 1 place or do i have to open multiple wallets?

I am really sorry if these are basic questions for you but I fell my knowledge is very very limited weak in Crypto, the more I read on this forum the more confused i'm getting. I would like to buy and hold the coins long term but would also like to sell short term if I don't feel i have chosen the correct coin/s.

Can you please help/direct me on my journey?

No worries, we all start somewhere! Crypto can be a wild ride, but let's break it down:

Getting Coins:
So, you've got that $200 in Ethereum, nice move. You can definitely buy other coins. You can either open separate wallets for each coin, or hit up exchanges like Coinbase or Binance. They're like the shopping malls of crypto – pick and choose what you want.

Cashing Out:
When you're ready to cash in, you can do it in a couple of ways. Either sell your coins directly from your wallets and then transfer the money to your bank. Or, hit up an exchange, sell there, and then transfer the funds to your bank. It's a bit of a process, but you'll get the hang of it.

Wallets Situation:
You can go all-in-one with a secure wallet that holds different coins. Ledger or Trezor are solid choices. Or, if you're going for different wallets, just keep track of your keys like a boss.

Remember, there are no stupid questions in this game. Crypto can be confusing as heck at first, but you're on the right track. Ride the learning curve, and you'll be navigating the crypto seas like a pro in no time. If you need more guidance, just shout. Cheers to your crypto journey!

Oxbro

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