/biz/ - Business & Finance

[Anonymous No.2041436]

Nocoiner here, I wanna stop getting put on suicide watch and start trading crypto. I have the following quesitons:

>Is crypto trading like forex trading?(as in currency pairs)
-Does Technical Analysis work on cryptocurrencies?
>Can you buy all cryptocurrencies with dollars, or does it have to be BTC

>What exchange/broker do you use to flip dollars into btc and other cryptocurrencies

>Any reading material regarding crypto currencies? Or should I just do fundamental analysis of each coin and trade based on that.

>Whats the best way to determine if a given coin is a scam?

Thank you in advance.

[Anonymous No.2041461]

>>2041436
>>>Is crypto trading like forex trading?(as in currency pairs)
yes
>-Does Technical Analysis work on cryptocurrencies?
yes
>>Can you buy all cryptocurrencies with dollars, or does it have to be BTC
some trade with USD. most trade against BTC only
>>What exchange/broker do you use to flip dollars into btc and other cryptocurrencies
I use coinbase but you will hear /biz/ talk a lot of shit about them
>>Any reading material regarding crypto currencies? Or should I just do fundamental analysis of each coin and trade based on that.
how can you do fundamental analysis of something that is inherently worthless? just go read coindesk articles for a while and ride the hype train
>>Whats the best way to determine if a given coin is a scam?
if it is anything besides bitcoin, ethereum, or litecoin it is a worthless scamcoin

[Anonymous No.2041468]

>>2041461
>>>Whats the best way to determine if a given coin is a scam?
>if it is anything besides bitcoin, ethereum, or litecoin it is a worthless scamcoin

actually I was being simplistic, there may be other coins that will take off in the future
my intutions are mostly with DASH or ZCASH although I dont actually know much about either desu and I have zero position

[Anonymous No.2041476]

>>2041461
Thank you for the answer.
I've also seen(I think) cryptocurrencies being bought like say a stock for example. Can you, for example, buy some bitcoins as a non-currency pair. Like a site that would literally give you bitcoins for your cash.

[Anonymous No.2041484]

>>2041476
there is no such thing in this word as a trade without a pair

literally when you buy AAPL stock you are trading AAPL/USD

when you buy bitcoin you are trading BTC/USD

when you barter at the farmers market and trade eggs for cucumbers you are trading EGG/CUCUMBER
and yes anywhere that trades COIN / USD will literally cost you american dollars to buy a bitcoin and give you american dollars when you sell a bitcoin

[Anonymous No.2041487]

>>2041484
world*

[Anonymous No.2041489]

>>2041436
>Does Technical Analysis work on cryptocurrencies

No

You just have to invest and hold your nuts

[Anonymous No.2041497]

How long does it take for fcking jewbase to transfer my money
LTC is going up and i cant do shit RRRREEEEEeee

[Anonymous No.2041547]

>>2041484
How do you buy the other altcoins, as I see coinbase only offers Litecoin and ETH

[Anonymous No.2041556]

>>2041547
you need to use an exchange that offers the coin you want

example:
https://poloniex.com/exchange

[Anonymous No.2041557]

>>2041547
You put your coins on to an exchange like poloniex, kraken, bittrex and such.

[Anonymous No.2041570]

>>2041556
>>2041557
Do I first need to buy bitcoins off of coinbase? Is coinbase like a wallet site?
Sorry for newbfag quesitons.

[Anonymous No.2041583]

>>2041570

that is one way to do it

you can buy on coinbase, and your bitcoins will be put into a bitcoin wallet there

then you can make a poloniex account and transfer your BTC from coinbase wallet to poloniex wallet, and then youll have them for trading on the poloniex exchange


I have never used poloniex actually but I am pretty sure if you wanted you could just deposit dollars directly there and then buy bitcoin. they definitely offer USD/BTC