/cng/ - Crypto Newfag General

[Anonymous No.28159995]

*Not the original OP *

"I'm creating this general thread for newfags. Why? Because /biz/ is under attack by shills. If you are new to crypto or need information, ask your questions here.

General advice:

- DYOR
- Do not buy heavily shilled coins on /biz/ such as Rubic, Bao, or whatever coin of the month it is. More on this below.*
- Only use fiat exchanges (Coinbase Pro has the lowest fees). They feature only the safest coins, and crypto exchanges require ETH for most coins and you will be murdered with fees.
- Always transfer your coins to a digital wallet when able. (Coinbase's wallet app is fine for a start.)
- Safest coins to invest into: BTC/ETH
- Safer coins to invest into: AAVE/UNI/LINK/GRT (BUT DYOR FAGGOT)
- Pick an investment strategy and stick to it. (Ex. Dollar cost average (DCA) or "always buy the dip").
- Diversify your portfolio. At least 2 coins, one of which should be BTC or ETH. Never all-in one coin. Never more than 4 coins sub-$10k.
- Never buy green or all time high, always buy red, unless you're DCAing.
- Don't day/swing trade crypto. Invest with intent to hold for years. Timing the crypto market is nigh-impossible.
- Never sell at a loss.
- Never "panic sell". If you DYOR, you should be confident your investment will eventually be profitable, regardless of dips.
- Never let FUD dictate your actions.
- Never let FOMO dictate your actions.
- Never let your emotions dictate your actions.

*Heavily shilled coins fall under the category of "shitcoins", "scamcoins", "discordcoins", or whatever you want to call them. Rubic, for instance, is using a Discord server to coordinate pump and dumps by generating hype on /biz/. There are hundreds of these coins. If you can't find any information on a coin outside of /biz/, if the developers have essentially no presence outside of their project, or if their website ends in ".finance", avoid it like the plague. Just buying these coins and converting them to and from ETH incurs extremely high fees anyway."

[Anonymous No.28160258]

Any advice on when to buy BTC? I’ve held LINK for 7 months but never bought BTC. You can imagine how stupid I feel right now

[Anonymous No.28160341]

I have two questions for the experts

1) I don't plan on straying far from coinabse pro, besides BTC/ETH are any of the coins there worth holding?

2) I fear a crash in the foreseeable future so I don't want to take a big jump in, was planning on putting in $100 until a crash or somewhat large correction and then going in hard, is this a reasonable plan?

[Anonymous No.28160344]

>>28160258
As often as possible. Put $700 on an exchange and buy $100 a day

[Anonymous No.28160398]

Where do I even buy crypto, what are the best sites?

[Anonymous No.28160497]

>>28160398
Coinbase if you are in the U.S, binance if international

[Anonymous No.28160532]

>>28159995
This is absolute dog shit advice desu.

[Anonymous No.28160533]

>>28160344
I’ll wait for this Elon pump to end and then DCA. Will we see 20k again?

[Anonymous No.28160571]

>>28160497
Alright, thanks anon.

[Anonymous No.28160575]

research dxt my friends many profits to be had into this one soon prepare your bags sirs.

[Anonymous No.28160607]

>>28159995
>GRT
>safe

[Anonymous No.28160701]

>>28160533
Hell no maybe not 30k again. Btw rubic is an Actually great project going to 10 EOY.

[Anonymous No.28160884]

>>28160607
Lol this. OP dribbled a few great pieces of advices and completely surrounded it with dog shit like saying grt is one of the best holds. Saying rubic is a scam. Basically telling people to be a centralized check and only using fiat (kike) exchanges

This is great advice If you want to be a step behind the people who are actually balls deep in crypto, and you’ll never catch up to them or make it if you are a cuck.

[Anonymous No.28160939]

>>28159995

I want to mine dogecoin on my shitty computer. Why is it so fucking hard? Can anybody break it down retard style.

[Anonymous No.28161422]

>>28160341
P-please h-help

[Anonymous No.28161590]

>>28160884

Rubic is a scam
Mcdc is a scam
Peerex is a scam

Most of the coined shilled on /biz are scams. Yes you can make money on these but at the end of the day thenrug gets pulled.

Coinbase and binance vet projects. They wont add garbage like rubic

[Anonymous No.28161641]

>>28159995
can someone explain to me how to get my grt on my ledger

[Anonymous No.28161757]

>>28160701
Oh my little boy, we're going to have fun.

[Anonymous No.28161913]

bought small amounts of
FIO at 14
BTT at 0.001
SFP at 1.4
should i sell at pump? (if yes, what margin)
or should i just hodl?

[Anonymous No.28162401]

>>28161590
Was reading and seemed like solid advice at first...then you say dyor and in the next breath you say rubic is a scam. Youre either an idiot or trying to accumulate bags by fudding rubic when it's potentially. THE UNISWAP killer. Take your own advice next time and do your own research before calling a project that has a legit team with years of crypto experience and a working product a scam. Do not listen to this retard. Pic related is the aforementioned all white slav rubic team.

[Anonymous No.28163246]

>>28159995
>- Diversify your portfolio. At least 2 coins, one of which should be BTC or ETH. Never all-in one coin. Never more than 4 coins sub-$10k.

Why? Why shouldn't I just go all in on BTC, the rest are basically tied to its value and its the only one thats likely to stay around for a long time anyway.

[Anonymous No.28163607]

>>28159995
Follow this list frens I made specifically for new people

https://twitter.com/i/lists/1352681307747323906

[Anonymous No.28163806]

IMPORTANT REMINDER
Ignore any posts with pepe, they are either redditors, paid shills or bots trying to blend in

[Anonymous No.28163931]

Hey, recently discovered an old hard drive that had crypto mining done on it at some point.
I've discovered some files but I'm not sure what I'm looking at.
Can someone explain to me what a wallet or what it would be labeled as to even retrieve them? I located a few files called crypto mining.dat but I ain't no fucking clue if that's anything or how I'd go about collecting.

[Anonymous No.28164156]

What is the quickest route for me to move money from Robinhood into crypto? I want to buy and hold some but also have access to shitcoins

[Anonymous No.28164181]

BTC or ETH long term?

[Anonymous No.28164210]

Crypto newbie here that wanted to toss $10 into SHIB. Well, I listened to some dipshit here on /biz/ and got a Coinbase Wallet so I could convert crypto into SHIB.

Well, no one told me what kind of crypto to get, so I just bought BTC on Coinbase. Once the bank transfer completed, I moved the $10 worth of BTC to my Coinbase Wallet.... only to fucking find out that BTC isn't convertable on Coinbase Wallet for some stupid, dumbass, reason that I don't understand.

So I tried to transfer my $10 worth of BTC back to Coinbase so I could just sell it and get my money back, only to find out that some dumbass thing called a "miner's fee" wants $9 worth of my fucking BTC to transfer it back to Coinbase.

I don't understand any of this, and I'm beyond pissed off. Why even fucking bother?

[Anonymous No.28164264]

>>28159995
Buy MCDC. GMI

[Anonymous No.28164338]

>>28163246
Follow your own intuition. Invest in what you know.

Put all of your eggs in one basket and watch that basket very closely.

[Anonymous No.28164425]

>>28160341
Literally every newfag thinks they're smart and that they can just time it and wait for a discount.

Time in the market beats timing the market nearly every single time

[Anonymous No.28164461]

>>28160533
don't wait for the pump to end, start DCAing as soon as you can afford it. also $100 a day is a bit aggressive unless you can afford it. Take whatever you can afford to DCA into BTC on a monthly basis and divide it by 4 and do it weekly, or divide it by 15 and every other day or something. whatever is sustainable.

[Anonymous No.28164533]

How do I choose my trading strategy? Some people try to buy the next big coin well before it moons, some might buy bigger coils like BTC ETH and hodle, others might swing trade BTC based on some model. I'm a working slass guy looking to put in like $6k total and would like to see nice gainst in 6 months or so, at least.

[Anonymous No.28164598]

>>28159995
>*Heavily shilled coins fall under the category of "shitcoins", "scamcoins", "discordcoins", or whatever you want to call them.
good advice
>Rubic, for instance, is using a Discord server to coordinate pump and dumps by generating hype on /biz/.
bad advice
>There are hundreds of these coins. If you can't find any information on a coin outside of /biz/, if the developers have essentially no presence outside of their project,
good advice
>or if their website ends in ".finance", avoid it like the plague.
terrible advice
>Just buying these coins and converting them to and from ETH incurs extremely high fees anyway."
sometimes true, but if you buy at weird hours you can avoid high gas fees. ~1am EST seems to be good for gas fees.

[Anonymous No.28164706]

>>28164533
Your trading strategy is whatever opportunity that you can find and how disciplined and systematic you can be to ensure you follow through with your original plan.

[Anonymous No.28165414]

>>28159995
>Rubic, for instance

But they have a working product, a team with experience, are doxxed, have a road map, regular updates.
These are not the hallmarks of a scam coin.

[Anonymous No.28165932]

I'm gonna start putting a chunk of my spending cash into crypto each week. Im not looking to get rich quick, just steady gains. What are the best long term coins?

[Anonymous No.28166058]

>>28165932
BTC and ETH mostly.

[Anonymous No.28166163]

>>28165932
ETH is undervalued against BTC right now

[Anonymous No.28166201]

Just bought .0125 btc. same amount that i bought and sold in 2014 for $10

[Anonymous No.28166265]

>>28166163
So it's due to rise a fair amount?

[Anonymous No.28166374]

>>28166058
So just fo 50/50 on BTC and ETH? All the rest are just shitcoins?

[Anonymous No.28166391]

>>28160532
this is pretty solid advice? What about it is shit? you new here or something?

[Anonymous No.28166548]

>>28166374
Not neccisarily, but BTC and ETH will go up overtime as they are part of the fabric of the system with huge confidence in them.
Huge money can be made very quickly on some alt coins.
Some of them will be shit, some have good use cases and good prospects.
The trick is finding them though.
Crypto is still new and there is a lot of change and opportunity as it gains more mainstream support.

[Anonymous No.28166594]

>>28166391
Because reading between the lines, OP is just mad that gas fees priced him out of Rubic.

[Anonymous No.28166724]

>>28166594
Op is literally a retard, baos got partnership with sushiswap and use case worth trillions.

[Anonymous No.28166733]

Is the crypto.com app reliable? should I look into moving to other exchange/wallet services? It seems to have had some sketchy stuff in the past but almost every wallet/platform seems to have had some sorta drama at some point.
kinda wanna get one of their cards just cause they look cool.

[Anonymous No.28166764]

Isn't ETH destined to get replaced someday? Gas fees are horrendous and I don't think it can scale well enough to truly allow DeFi to take off. That being said, I don't think any of the current crop of le ETH killer shitcoins are going to flip it.

[Anonymous No.28166820]

>>28166733
You should be using ProBit, MetaMask and Binance. Those are the trinity of cryptocurrency markets.

[Anonymous No.28166849]

>>28166733
>selling your assets
anon if you're selling crypto at this point you're literally exchanging your birthright for a bowl of soup

[Anonymous No.28166911]

>>28166548
Would you say shitcoins are essentially penny stocks in terms of risk/reward? There are honestly a shitload of similarities.

[Anonymous No.28167212]

>>28166911
no because penny stocks actually require an actual company while shitcoins are scams

[Anonymous No.28168019]

Can I check if I understand Crypto

People that buy a coin early make money from people that buy the coin a bit later than them, provided it increased in value. Those that were a bit later can still make money as long as there is an increase in value and more people want to enter the market. And so on and so forth.

So it's not quite a classic ponzi scheme because there has to be something driving up the price? Or is it literally a ponzi scheme because the price can be driven up purely by there being enough new people wanting to buy?