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/biz/ - Business & Finance

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4950857 No.4950857 [Reply] [Original]

*moons quietly*

>> No.4950899

i got a question, where do you buy obscure altcoins? im sick of being a nocoiner, where do i buy high and sell low? wallets or exchanges?

>> No.4950960

>>4950899

binance sir

>> No.4951097

>>4950960
how easy is it to cash out fiat currency?

>> No.4951122

>>4950899

Exchanges. You buy the big three coins (BTC, ETH, LTC) on some big exchange sites like coinbase for USD or EUR.

Then you send them to more specialised exchanges (of which there are lots, lurk around /biz/ archives to get ideas) like Binance and Kraken that exclusively trade cryptos for other cryptos. They'll list dozens of altcoins. That's where most of /biz/ is doing their exchanges.

When you want to hodl long term you set up a digital wallet, preferably a hardware or airgapped wallet, and send the crypto from your exchange account to the wallet. Only you have the private key so only you can access it unless key is stolen. You also have a public key that you can share with others to let them send you cryptos and use to send your own cryptos to it.

Not all wallets take all altcoins and not all crypto exchanges list all altcoins, so research your coin a bit first.