Bitcoins and Other Crypto-currencies

Fed up talking videogames? Why?
User avatar
Venom
Member ♥
Joined in 2008
Location: London
Contact:

PostRe: Bitcoins and Other Crypto-currencies
by Venom » Thu Jan 04, 2018 11:39 am

Garth wrote:
Hulohot wrote:Rumours suggest Ripple is going to be added to Coinbase on 8/1/17.

May not be true but there is still time to jump on.

I'm a noob, what do I do to get some?

Edit: noticed a post above!


I'm new to this too, I bought my first coins just before Christmas. I'm not going to pretend to be an expert I will just tell you what I done which is a relatively quick and easy way. There are more cost effective ways but this will get you started. The long time experts here will have more to say on this!


Coinbase is probably the most established trading company but they don't sell XRP (yet). So using Coinbase you buy Bitcoin which you then send to your Poloniex account - there you can use it to buy Ripple XRP.

Firstly you will need ID and preferably to download the Google Authenticator app for iOS or Android.
Go to http://www.Coinbase.com and register and enable 2 Factor authentication which uses the Google App.
Go to http://www.Poloniex.com and register and enable 2 Factor authentication which uses the Google App.

When you're all set up you must transfer money to your Coinbase account. You can do this with a debit/credit card. There is approximately a £40 fee to do this and initially you can only transfer about £500/£750 per week - transfer is immediate. Or you can make a direct transfer from you bank by making a SEPA payment up to £15000, the transfer may take up to 2 days.

Once money is in your Coinbase account you use it to buy Bitcoin.
Then go to your Poloniex account and get your Bitcoin deposit code.
Go back to Coinbase and in your Bitcoin send section enter the deposit code and send. The process will take maybe an hour. Once the Bitcoin has arrived in your Poloniex you can use it buy XRP. This video better illustrates the process:



Once you have bought your XRP it will be stored with Poloniex. There are risks of hacks or company crashing and you losing your investment etc. But if you have a small amount I wouldn't panic about that too much but start looking at alternative storage. If you have a higher amount there are various ways to to store your XRP keys offline - but this is what I'm still learning about!

Others here have said you can do the above but with Gdax and Binance.
Gdax is the sister company of Coinbase and they have lower fees. Your Coinbase account should enable you to register their but you will need TWO forms of ID to trade with them (sadly I lost my old driving license ). Binance has XRP and a range of other alt coins too.

I hope this illuminates it all for you a little bit!

User avatar
Hulohot
Member
Joined in 2008
AKA: dan_e1990
Location: Hampshire
Contact:

PostRe: Bitcoins and Other Crypto-currencies
by Hulohot » Thu Jan 04, 2018 11:46 am

I purchased most of my ripple using a bank transfer on cryptomate. I'd enter how many I wanted to buy and then had to wait for a sale to match. Back in October it didn't take long to find a seller and then I would send the money via bank transfer to the details cryptomate gave me but I abandoned that site as I was trying for days and days to buy 200 worth only to have it constantly time out. I don't know if it's worth trying again now.

The other easiest way is on bitstamp. You can easily send funds to your account from your bank card, or send bitcoin to it from coinbase/GDAX (so you aren't charged coinbase ridiculous fees) and purchase Ripple directly from there.

Wallets include toast, gatehub and nano ledger s (which costs about £70) for a physical secure memory stick.

User avatar
Garth
Emeritus
Joined in 2008
Location: Norn Iron

PostRe: Bitcoins and Other Crypto-currencies
by Garth » Thu Jan 04, 2018 11:52 am

Thanks guys, I'll have a go at it this evening :D

User avatar
Venom
Member ♥
Joined in 2008
Location: London
Contact:

PostRe: Bitcoins and Other Crypto-currencies
by Venom » Thu Jan 04, 2018 1:50 pm

Hulohot wrote:The other easiest way is on bitstamp. You can easily send funds to your account from your bank card, or send bitcoin to it from coinbase/GDAX (so you aren't charged coinbase ridiculous fees) and purchase Ripple directly from there.

Wallets include toast, gatehub and nano ledger s (which costs about £70) for a physical secure memory stick.


I want to buy a few more XRP but I can't take advantage of GDAX's lower rates as I can't get verified. I think I have been verified on Bitstamp. I just wanted to confirm with you that I can send funds direct from my bank account to Bitstamp and then buy XRP at a lower rate?

Can i ask what offline storage you personally use? My concern with offline storage is what do you do if your home goes up in flames - what back up do you have? Toast have an iOS/Android app. If you back up your phone locally does this mean your wallet is backed up? Likewise if you do encrypted cloud storage would your wallet be backed up?


EDIT: Bitstamp still haven't verified my account so I have to look at a different option.

User avatar
No:1 Final Fantasy Fan
Member
Joined in 2008
Location: UK

PostRe: Bitcoins and Other Crypto-currencies
by No:1 Final Fantasy Fan » Sat Jan 06, 2018 1:31 pm

I have a Gdax account but didn't know you could get XRP there? I can't see it? Also there seems to be no option to verify.

User avatar
Slayerx
Member
Joined in 2008

PostRe: Bitcoins and Other Crypto-currencies
by Slayerx » Sat Jan 06, 2018 1:40 pm

XRP isn't on GDAX most people will use it to send ETH of LTC to other markets to then trade for XRP such as Binance.

User avatar
No:1 Final Fantasy Fan
Member
Joined in 2008
Location: UK

PostRe: Bitcoins and Other Crypto-currencies
by No:1 Final Fantasy Fan » Sat Jan 06, 2018 2:17 pm

Slayerx wrote:XRP isn't on GDAX most people will use it to send ETH of LTC to other markets to then trade for XRP such as Binance.

Thanks for confirming! I also have poloniex now so can use that to buy XRP

User avatar
Slayerx
Member
Joined in 2008

PostRe: Bitcoins and Other Crypto-currencies
by Slayerx » Sat Jan 06, 2018 5:46 pm

Venom wrote:
Hulohot wrote:The other easiest way is on bitstamp. You can easily send funds to your account from your bank card, or send bitcoin to it from coinbase/GDAX (so you aren't charged coinbase ridiculous fees) and purchase Ripple directly from there.

Wallets include toast, gatehub and nano ledger s (which costs about £70) for a physical secure memory stick.


I want to buy a few more XRP but I can't take advantage of GDAX's lower rates as I can't get verified. I think I have been verified on Bitstamp. I just wanted to confirm with you that I can send funds direct from my bank account to Bitstamp and then buy XRP at a lower rate?

Can i ask what offline storage you personally use? My concern with offline storage is what do you do if your home goes up in flames - what back up do you have? Toast have an iOS/Android app. If you back up your phone locally does this mean your wallet is backed up? Likewise if you do encrypted cloud storage would your wallet be backed up?


EDIT: Bitstamp still haven't verified my account so I have to look at a different option.


I think a lot of exchanges are struggling with new members sign up rates increasing astronomically.

Binance is suppose to be pretty good but I think they stopped new applications temporarily due to demand.

User avatar
No:1 Final Fantasy Fan
Member
Joined in 2008
Location: UK

PostRe: Bitcoins and Other Crypto-currencies
by No:1 Final Fantasy Fan » Sat Jan 06, 2018 5:54 pm

Bitstamp hasn’t verified mine since late Dec. But I signed up to poloniex today and got varified in minutes.

User avatar
No:1 Final Fantasy Fan
Member
Joined in 2008
Location: UK

PostRe: Bitcoins and Other Crypto-currencies
by No:1 Final Fantasy Fan » Sat Jan 06, 2018 6:53 pm

Anyone using poloniex? I transferred some BTC to it from GDAX about 3 hours ago and its still not arrived.

update: I think its alright GDAX says they are experience delays pop 12+ hours for transfers to an external address.

User avatar
Venom
Member ♥
Joined in 2008
Location: London
Contact:

PostRe: Bitcoins and Other Crypto-currencies
by Venom » Sat Jan 06, 2018 9:54 pm

Slayerx wrote:I think a lot of exchanges are struggling with new members sign up rates increasing astronomically.

Binance is suppose to be pretty good but I think they stopped new applications temporarily due to demand.


It turned out that I was verified for level 1 at Binance which does allow you to trade. Am now verified to level which means I can withdrawal up to 100 BTC per day - I wish! :toot:

So this has all been an interesting ride! Everybody was expecting Ripple XRP to be made available on big company Coinbase but then they made a statement that they were not adding any new currencies. In reaction the price of XRP began to fell. I missed this news for almost 23 hours, by the time I heard people were selling. I didn't want a loss on my first buy so I panic sold. I made about £500 profit but at one point I was £2,500 up! I suspect XRP will perk up next week. But for the moment I bought something called Tron - TRX and a handful of a micro-coin called Pacco.

Bitcoin is slow and expensive but it's the standard so it's not going anywhere. Then you have all these upstarts with promises of revolutionising this or that but it's all just speculation. Exploring these previously secret corners of the internet it's almost like alt universe version of gaming with all these enthusiasts and their memes - HODL (hold on for dear life) moonshot and their talk of Lambos and mansions. Each coin supposedly promises a revolution but it's all just hype. Some people do seem to be getting mighty rich from it.


Rich




Pretty



That could almost be the name of an eighties cop series.

Last edited by Venom on Sun Jan 07, 2018 10:04 am, edited 1 time in total.
User avatar
Slayerx
Member
Joined in 2008

PostRe: Bitcoins and Other Crypto-currencies
by Slayerx » Sat Jan 06, 2018 10:28 pm

Be careful with Bitconnet for those who don't know its a pyramid scheme.

User avatar
Venom
Member ♥
Joined in 2008
Location: London
Contact:

PostRe: Bitcoins and Other Crypto-currencies
by Venom » Sun Jan 07, 2018 10:08 am

Slayerx wrote:Be careful with Bitconnet for those who don't know its a pyramid scheme.


Thanks for the heads-up, I swapped the video for another of hers.

Big ripple partnership rumoured to be announced this week so I bought back some XRP... :fp:

User avatar
No:1 Final Fantasy Fan
Member
Joined in 2008
Location: UK

PostRe: Bitcoins and Other Crypto-currencies
by No:1 Final Fantasy Fan » Sun Jan 07, 2018 10:27 pm

Venom wrote:
Slayerx wrote:Be careful with Bitconnet for those who don't know its a pyramid scheme.


Thanks for the heads-up, I swapped the video for another of hers.

Big ripple partnership rumoured to be announced this week so I bought back some XRP... :fp:

Did it drop by about 0.4USD? Its current 2.8dollars per XRP

Anyway just bought my first bunch of XRPs :)

User avatar
Slayerx
Member
Joined in 2008

PostRe: Bitcoins and Other Crypto-currencies
by Slayerx » Mon Jan 08, 2018 8:01 am

If you hold any BTC or Z classic before the hard fork you will get BTC Private.

User avatar
Hulohot
Member
Joined in 2008
AKA: dan_e1990
Location: Hampshire
Contact:

PostRe: Bitcoins and Other Crypto-currencies
by Hulohot » Mon Jan 08, 2018 10:20 am

To anyone who hasn't signed up to Binance or been able to due to no more new registrations;

Get there now, registrations are temporarily open for a limited amount a day.

I've just successfully registered and logged in

User avatar
No:1 Final Fantasy Fan
Member
Joined in 2008
Location: UK

PostRe: Bitcoins and Other Crypto-currencies
by No:1 Final Fantasy Fan » Tue Jan 09, 2018 10:42 pm

Funny how Bitcoin and LTC are not doing much by ETH is rising to nearly 1k

User avatar
Slayerx
Member
Joined in 2008

PostRe: Bitcoins and Other Crypto-currencies
by Slayerx » Tue Jan 09, 2018 11:47 pm

No:1 Final Fantasy Fan wrote:Funny how Bitcoin and LTC are not doing much by ETH is rising to nearly 1k


Yeah just wish I'd bought more ETH now :fp:

User avatar
Floex
Member
Joined in 2008
Contact:

PostRe: Bitcoins and Other Crypto-currencies
by Floex » Wed Jan 10, 2018 11:11 am

Hulohot wrote:To anyone who hasn't signed up to Binance or been able to due to no more new registrations;

Get there now, registrations are temporarily open for a limited amount a day.

I've just successfully registered and logged in


Cheers for this.

Anyone got a guide on how to use Binance?

Confused as strawberry float :slol:

User avatar
Hulohot
Member
Joined in 2008
AKA: dan_e1990
Location: Hampshire
Contact:

PostRe: Bitcoins and Other Crypto-currencies
by Hulohot » Thu Jan 11, 2018 2:58 pm

Ripple! It's happening again.

Just announced partnership with moneygram, less than an hour until the coin goes live on DNN massive Asian exchange, their version of coinbase.

A one -two punch

Price is up from 1.70 to 2.19 at time of writing


Return to “Stuff”

Who is online

Users browsing this forum: Albear, andretmzt, Blue Eyes, Bunni, Frank, lex-man, Pedz, Peter Crisp, Return_of_the_STAR, RichardUK, Snowcannon, Tineash, Vermilion and 67 guests