buy crypto

Why Coinbase is the Place to Buy Crypto?

My journey this year in crypto has been nothing short of what I imagined. I started with the dream in my head to make it. I don’t care about the money but building something from the ground up and making it succeed is quite amazing.

I started in May when I originally put in a couple thousand into Coinbase. Why did I choose Coinbase? One of the main reasons was security (two-factor authentication) and the background the company had as being legitimate. I saw a couple horror story reviews online at first but decided to take the risk.

Ever since I haven’t had any issues with Coinbase in terms of buying crypto. Of course, it takes awhile once you buy Ethereum, Bitcoin, or Litecoin to actually get it in your wallet. Also, at times their site does go down. But these are normal problems to deal with when you are in at the beginning stages of a paradigm shift.

In addition, Coinbase is one of few exchanges that actually let you deposit USD from a bank account. So once I have it in the account I can move it around. I’m going to move some into the Ledger Nano S once it ships to store some crypto for a long period of time. The rest will stay on exchanges and be moved around. Below is what the interface looks like for adding your bank account so you can buy crypto.

buy crypto

Generally, it will take a couple days once you add the bank account for them to verify it. The fees you will pay on trades are 1% but you can avoid the fee by going through this process.

In case you are skeptical, I have also tested selling crypto on Coinbase and it showed up in my bank account within a couple days without any issues. Most people I think will continue to be on the sidelines until the point of Bitcoin passing $10,000 and Ethereum going above $500. However, the longer you wait the longer you are potentially missing out on one of the greatest opportunities in finance that I have ever seen.

I don’t say these things as a pitch….I could care less if you get a Coinbase account. I own plenty of crypto so what you do doesn’t affect me. I’m just trying to provide the general public an opportunity to make more than the average 5% they make in a 401k.

How to Buy Ethereum with Bitcoin?

You might be wondering how to move money from one crypto asset to another. Coinbase doesn’t offer this flexibility and is one of the most popular exchanges. However, there is a very easy process for buying Ethereum with Bitcoin.

Create a Bittrex Account

The first thing I did after I had money in Coinbase was create a Bittrex account. I store most of my value in Coinbase as more of my long term portfolio (I’m going to move it into the Ledger Nano S wallet soon). Then, I utilize some profits and move it into Bittrex. The cool thing is that this process isn’t challenging and you won’t have to jump through hoops.

how to buy ethereum with bitcoin

The first thing you will want to do is figure out what your btc address is on Bittrex. If you click on wallets at the top you should see a plus sign button which will allow you to deposit btc. After clicking that, you will see the screen above. This address is needed when you go onto Coinbase and go to the send/receive screen.

Next, login to Coinbase to send money from your btc wallet to the Bittrex btc wallet. On the send/receive screen it will ask you for the address you got above. Paste the address in and confirm how much Bitcoin you are sending.

how to buy ethereum with bitcoin

Once you have the Bitcoin on Bittrex (takes a few hours) you will want to move it into Eth. The screen above is what you will see on Bittrex to exchange and transfer money into Eth. The key thing to remember is to click the dropdown where it says price and select ‘last’. This will make sure you put in a order for whatever the last price Eth was sold at. Since the markets are liquid the order should go through instantly and you should get a good price.

This technique allows me to also move money into altcoins because Bittrex has wide array of options when it comes to trading. I have utilized the platform to pick up some OmiseGo,TenX, and Status which are all ERC20 tokens. I like to invest in the Ethereum ecosystem because I believe it has so much to offer in the future.

 

altcoin trading

How Do You Succeed with Altcoin Trading?

Insane volatility is among us…I’m sure you know what I’m talking about. One day you own an altcoin that goes up 50% and the next week plummets down. The fate of engaging in altcoin trading is not easy by any measure.

This is due to liquidity and the amount of money being traded into these coins. More volume equals more liquidity. That’s the law of mathematics.

altcoin trading

A market node is based on sellers being able to get out and buyers being able to get in. They find equilibrium and price tends to hover around it until demands grows over time. These forces have had a role since the beginning of markets but only few people can resist the urge of emotion when the time comes around.

What I mean is that people will sell when they see price moving down and buy when it is going up significantly. The way our brains are wired makes this a normal act of human nature. The only way to beat it is to program ourselves to think differently when the time comes around.

In the beginning of my trading career, I didn’t have this key skill. But over time I learned it and now I live by it. The reason is based on ‘probability’. If an asset falls 10% what is the probability that it falls another 10%? On the flip side, after an asset rises 10% what is the probability it goes up another 10%.

In each of the above two questions, you will notice that you have less risk on the table after certain moves of distribution happen. Typically, the furthest I have seen most assets go is around 50-60% lower. In most cases, you will just see corrections which are between the 10-20% range. This is exactly the reason to buy after something goes down 10-15%.

Now keep in mind that you should understand the product you buy. NEVER trade something you have no clue about. Always find things with value and follow these simple rules. I guarantee you will make profit nearly 90% of the time.

what is omisego and how it works

What is OmiseGo and How Does It Work?

I’m excited to see what OmiseGo could bring to the future of transactions…

OmiseGo is using blockchain technology and the Ethereum network to bring finance to every part of the world. The biggest point is that you do not need a bank account. All you need is a connection to the blockchain. One of the goals the team has is to achieve ‘instant settlements’ on transactions. This would be huge and the cost would be low compared to current industry standards.

what is omisego and how it works

On the website, they state that the technology has not been launched yet. However, it will be launching in Q4 of 2017 so I think the price has room to rise significantly. We can forward to an optimistic launch on this token very soon.

They’ve got an actual team behind them making sure the technology will be delivered on schedule. One thing they have been doing is tackling Asian markets but they have also been trying to grow the platform for everyone.

The SDK that OmiseGo offers has the ability to do cross wallet transactions. This means people can go out and develop their own wallet and it will be able to talk with another persons wallet that is setup differently.

What is the OmiseGo Airdrop?

According to their website, the airdrop is expected to begin on Monday, 4 September, and is expected to take about a week to finish (depending on Ethereum traffic conditions). 5% of the total supply of OMG has been set aside for the airdrop. Addresses on the Ethereum blockchain that held a balance over (not ‘over or equal to’) a minimum threshold of 0.1 ETH at block height 3988888 will receive a share of the airdrop allocation that is proportionate to their share of ETH.

This is incredibly exciting and I believe the exchanges will support this. I know Bittrex has done airdrops successfully before and Coinbase has decided to implement support to give people Bitcoin Cash since the split happened. I don’t see there being a difference this time and they should give the community the OmiseGo without an issue.

 

antpool slow bitcoin transactions

Revision: Antpool to Blame for the Slow Bitcoin Transactions?

The theory for everything that is happening is that Antpool is sabotaging the system…

Antpool isn’t confirming a lot of peoples transactions, causing transactions to take a long time to go through and costing people more in transaction fees.

Normally miners will confirm as many transactions as they can, because when they confirm one they earn the transaction fees from that transaction. Antpool has given up $100,000+ in transaction fees in the last 24 hours alone by not confirming as many transactions as they can.

Why would they do this? Many suspect it is the use of covert ASICBOOST, which is a mining shortcut that was confirmed to be implemented in hardware on Bitmain’s (AntPool’s) ASIC chips and gives them a huge advantage.

When confronted, Bitmain claimed not to use this functionality because it is bad for Bitcoin (their words). Because it is covert it is difficult to tell if it’s happening or not, but some side-effects of it include empty blocks or blocks with very few transactions, like what we are seeing now.

Even though Segwit2x was just released nothing about Bitcoin has actually changed, the underlying system is exactly the same. This is why the FUD around Segwit pissed me off so much, if you don’t like it don’t use it.

antpool slow bitcoin transactions

ASICBOOST isn’t possible on blocks that contain segwit transactions, however, miners do not have to include segwit transactions.

The activation of segwit does 2 things: it makes it much more obvious who is using ASICBOOST as those miners will never mine segwit transactions.

Segwit also allows for a lot more transactions, when use of it grows it is possible that the extra revenue miners make by using ASICBOOST will be less than the fee revenue they would get by mining segwit transactions so they would have to turn off ASICBOOST to make maximum profit.

how bitconnect works

How Bitconnect Works and Why it Will Help you Accumulate Eth

I’m not one of those guys out in the world that will ever try to pitch you something that is shit and doesn’t have value. I will always make it my job to give opportunities that I am using currently and that work.

The goal is simple…add value and people will respect you. When I first found Bitconnect I decided to put an amount of $230 into it as a test. It wasn’t a deal breaker if I lost the money because I could afford it.

how bitconnect works

The way the platform works is you first transfer Bitcoin into the site. Then you use that Bitcoin and convert it to BCC which can be loaned out.

How to Transfer in Bitcoin?

On Bitconnect, there will be a ‘Deposit Bitcoin’ button. You will want to click that button which will bring up the address for where you will want to transfer Bitcoin. Next, copy this address and go to Coinbase or Bittrex where you hold Bitcoin. On each exchange, there will be the ability to ‘send’ or ‘withdraw’ Bitcoin. Then, you will paste the address to transfer Bitcoin to Bitconnect. The minimum for a loan you can do on Bitconnect is $100.

This loan gains interest daily which is calculated based on the volatility of the market. As the first couple days went by, I started to notice the value of the platform. The first day I collected .8% and then the days after were above 1%.

When the interest got paid I immediately moved it into BCC because the hope was that I would also get investment gains. This probably the smartest thing to do in order to speed up the return on investment.

how bitconnect works

Sure enough, after the first couple payments of putting my money in BCC the price went from $90 to $100. Now the price sits well above $100. In the first couple days, I already made back 10% of the loan and that money can be transferred straight out to Coinbase after. This is how you can accumulate Eth over time.

I’m looking to get to the point where I own 100 Eth over the next two years. In order to hit that goal, I have to seek out these other opportunities for yield in the meantime.

I hear many people calling it a scam but how can they say that if the interest is actually being paid daily. Also, none of the haters actually have an account like me so their argument is not valid. In less than 50 days, I will probably have all of the original lending amount back and put into Coinbase. Then the rest after that will be straight profit.

I would say to test out a small amount like I did to get comfortable with the platform and have little risk on the table. The horror stories of people saying it is going to shutdown is just outright ‘FUD’ and you should try the platform before ruling it out. You can signup now using the link below.

how bitconnect works

how many ethereum are there

How Many Ethereum are there and What it Means For Value?

The number break down for crypto assets can be deceiving if you don’t understand it. For example, Status (SNT) trades currently around 7 cents and people may think it is a penny stock. But if you look deeper into the supply and volumes you see a completely different story.

Status trades about $20-$30 million dollars in value a day and has a supply of 6.8 billion tokens. The larger the supply of tokens, the less the price in most cases.

How Many Ethereum are there?

Supply = 93,827,079

The price of Ethereum is determined by supply and demand. A simple base concept you may or may not have learned in school. If it had a supply of 6.8 billion tokens like status then it would trade at a significantly lower value due to less demand.

how many ethereum are there

5 Years From Now…

If you think about how assets trade you understand that they have a skew to go up. As value grows over time so does the price. Now don’t think that it will be a smooth and steady rise up.

Things happen in cycles so you will have significant overvalued conditions followed by discounted prices….only to get back to the equilibrium of value.

The adventure is in the fact that crypto is still young in comparison to how the internet was when it started. The networks of decentralization are growing and it will continue.

Currently, Ethereum has been hitting volumes close to $1 billion or over each day. I find this interesting because when I first started with Ethereum in April volumes seemed to only be hitting around $250 million on a good day. It represents a near 4 times in volume increase over the course of months.

As a wise man by the name of Warren Buffet once said, “our favorite holding period is forever”.  He meant that you should go into owning asset with the mindset of thinking long term.

If you were only able to own 10 assets in your lifetime you would think about it really hard and make sure you didn’t mess up. Crypto makes it onto my list of 10 assets but does it make it onto your list?