/NFG/ - Newfag General & QTDDTOT

[Biznessman No.24296763]

Newfag General is for everyone new to crypto and for questions that don't deserve their own thread.

whatthefugishappening edition

>Guides

• Basic Terms you need to know: https://academy.binance.com/en/articles/12-terms-every-crypto-trader-should-know
• Full Guide to Markets & Trading: https://academy.binance.com/en/articles/a-complete-guide-to-cryptocurrency-trading-for-beginners
• Ways to store your crypto: https://www.investopedia.com/news/bitcoin-safe-storage-cold-wallet/


>What are the first steps towards becoming a /biz/nessman and how to not be a complete retard

• Only invest what you can afford to lose
• Buy low, sell high
• Take profits if your investment is on a steep way up
• Always do your own research
• Learn basics of technical analysis
• Holding your coins is almost always more profitable than trading
• Lurk before posting
• Stick to the basic coins (BTC, ETH, LINK) before thinking about buying shitcoins
• Not your keys, not your wallet, not your coins
• Don't trade with leverage
• You can never leave


>Which Exchange do I pick?

• Recommended CEX - Centralized Exchange(s)

‣ Binance
+ Biggest CEX, great liquidity
+ Very wide range of tools and functions
+ Decent range of coins
+ Low fees
+ Lots of resources to learn
· Referral ID for lower fees: VFZQTCLB
| Only needs KYC if you trade with big amounts
- Range of tools confusing at the start


‣ Coinbase
+ Beginner friendly
+ Easy to use
+ Free Crypto with Coinbase Earn
| Can upgrade to Coinbase Pro for more functions
- KYC
- Works with Tax institutions (IRS etc.)
- Limited choices of coins

• Recommended DEX - Decentralized Exchange

‣ Uniswap
+ Biggest DEX, highest liquidity
+ Supports almost ALL ERC-20 Coins
+ Easy to use Interface
+ Uses your own wallet
- Only swaps your coins, almost no tools

__________________________________________________________________________________

I will be putting together a pastebin once we have enough questions/answers and contributions.

[Anonymous No.24296981]

bump, thanks Anon!

[Anonymous No.24297045]

>>24296763
How long does coinbase earn take to get accepted? I want to claim that shit before they shut it down

[Anonymous No.24297064]

newfags lurk more

[Anonymous No.24297099]

OP is a faggot with 2.5k total in crypto who knows fucking nothing. Don't take his advice its all trash.

[Biznessman No.24297113]

>>24296981
No problem fre

>>24297045
Invites got me accepted instantly, altough not sure if that's always the case, here's the pasta

XLM

https://coinbase.com/
earn/xlm
/invite/s0x5dkmp

XLM Answers:
1. A decentralized protocol that unites the worlds financial infrastructure
2. Facilitating low-cost, universal payments.
3. Transactions are fast, inexpensive, and global
4. To issue, exchange, and transfer tokens quickly and efficiently
5. It relies on the cooperation of trusted nodes to confirm transactions.

-----------------------------------------

EOS

https://coinbase.com/
earn/
eos/invite/vykfg6d1

EOS Answers:
1. A blockchain protocol for fast, scalable applications
2. Delegated proof of stake
3. Fast, free transfers
4. Stake EOS tokens
5. Upgradable smart contracts

-----------------------------------------

COMP

https://coinbase.com/
earn/comp/
invite/t9s3d5wb

COMP Answers:
1. Earning interest
2. Supply a crypto asset as collateral
3. COMP token holders

>>24297064
>t. 2018 newfag

[Biznessman No.24297153]

>>24297099
kek, it's all true, buying high and selling low is the true /biz/ way

[Anonymous No.24297236]

What websites or systems do people use to monitor coins live? Besides researching the coin itself, is there anyway I can interpret the graph to help predict which way it will go? I plan on getting a laptop and moving everything from my phone onto there, as well as getting a ledger. I want to take this more seriously, I feel like within the next 5 years there will be a massive switch/leaning towards crypto. I see it being the future and I want in.

[Anonymous No.24297301]

>>24297236
exchange you trade on has tradingview charts most likely
>there anyway I can interpret the graph to help predict which way it will go
trendlines are only real indicator, rest of TA is bullshit
> I feel like within the next 5 years there will be a massive switch/leaning towards crypto
you're 5 years too late buddy

[Anonymous No.24297323]

I keep getting fucked over by ID verification in fuck base/kraken/ binance, etc. What are some other ways to buy crypto? is cash by mail really for suckers?

[Anonymous No.24297423]

>>24297301
They do have trading charts, but they arnt live.
>you're 5 years too late buddy
Better late than never I guess.

[Biznessman No.24297452]

>>24297323
You can buy on changelly it offers multiple options and doesn't require KYC as far as I know, get a metamask wallet, buy your initial crypto and continue your trading with uniswap or changelly

Binance doesn't need KYC unless you want to trade with more than 2 BTC, took me some time to get my verification too but it was worth it imo

>>24297301
>you're 5 years too late buddy
meh

[Anonymous No.24297455]

>>24297423
>but they arnt live.
where are you even trading, retard?
binance charts are all live, if you're trading on dexes than dextools

[Anonymous No.24297493]

What’s the best way to buy crypto with usd without kyc in the US? For some reason Wyre doesn’t work for me.

[Anonymous No.24297657]

>>24297455
>retard
>in a newfag general
Pic related is from kucoin. Something similar to this. I don't have binance, just exodus, kucoin, and coinbase. If binance has it, then ok, I just haven't used it yet so I didn't know.

[Anonymous No.24297700]

>>24297657
>xrp
>phone trading
ngmi
use PC version of the site

[Anonymous No.24297727]

>>24297700
unironically what is wrong with phonetrading
i don't own a computer and have no intention of doing so

[Anonymous No.24297778]

>>24297727
not your wallet, not your coins

[Anonymous No.24297782]

>>24297113
thanks

[Anonymous No.24297825]

>>24297778
hadn't thought of that, thanks

[Anonymous No.24297849]

>>24297700
I dont trade on kucoin, I just use it to view charts. I'm still reading and learning about how to fully read charts, but I've done reading with stocks and I'm not sure if the same generally applies to crypto or not. I plan on buying a laptop because it will make everything easier. I just don't know if I just keep using kucoin or another website/program. If there's a better option, then I'll use it. I'm tired of using my phone, I feel like I would be better managed with a actual computer.

[Anonymous No.24297850]

>>24297825
fyi trust wallet was swapped for a malicious app 3 times on google play for the past 2 years

[Anonymous No.24297852]

I'm thinking of getting into ETHUP - now to profit on the pump, since we dumped lately - or just before 1st December when ETH 2.0 gets out. What are your thoughts, frens?

>Don't trade with leverage
I'm asking because ETFs might be an exception?

[Biznessman No.24297925]

>>24297852
I won't tell you what to buy/sell since I don't have a magic crystal ball, but ETF's are definitely the best way to get exposure to leverage trading without losing everything

[Anonymous No.24297981]

>>24297925
Much appreciated. I was considering them mainly because they're a low risk variant of actual leverage trading, for lack of a better word.
Thanks for the helpful thread!

[Anonymous No.24298010]

Don't buy crypto. Go to /smg/

[Anonymous No.24298020]

Remember to set stop-losses and manage them accurately. I set one for LINK at $14.2 yesterday, really saved my ass.

[Biznessman No.24298105]

>>24298020
yea, good one anon, i forgot to set a stop loss for one of my buys and it really fucked my ass the last 48 hours

[Anonymous No.24298757]

bump for newfrens

[Anonymous No.24299434]

I want to buy crypto but fuck this ID shit.
What would be my spending limits if I don't want to show ID for a coinbase account?

[Anonymous No.24299545]

Put £10 into Doge £10 into IOTA and £60 into CVP am I stupid?

[Anonymous No.24299709]

>>24299545
Also some of the currency are just stagnant for me.

[Anonymous No.24300199]

>>24297452
idk what you mean, it won't even let me buy coins without advanced KYC. I'm just getting fucked by my webcam

[Anonymous No.24300615]

Ok, I'll ask. What key things do you look out for when DYOR?

[Biznessman No.24301572]

>>24299434
You can't even use Coinbase without ID, but you can use Binance as I mentioned above, 2 BTC within 24hr trading limit or something like that before you need KYC

>>24299545
yes

>>24300199
have you tried phone verification or contacting their support?

>>24300615
take a look at their team members make sure they are real people and know what they are doing, read the whitepaper the coin economics have to make sense you need to know what the point of buying the coin even is and why people would buy it outside of pure speculation, look if the smart contract has been audited by a legit auditing firm, take a look at the price history, who they are backed by, check social media activity