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  1. #91
    Expert Carpenter's Avatar
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    O.K.... I have a few questions for you guys that are all hip to this stuff...



    If you wanted to slowly build up a little pile of crypto currency, so that if it was to experience a spike like we saw last winter you could sell it and have multiplied your USD, how would you do that?

    - What exchange would you use, knowing that you would really be hoping for a fast and seamless sell, in the event that things started to pop again?

    - How would you store it in the meantime, again thinking of ease and speed of access to convert back to dollars if you wanted to.


    Im asking because dabbling in this stuff has made us realize that a lot of things don't happen fast with these exchanges, and as Chris mentioned, there are fees and limitations on withdrawls (for example)and perhaps other pros and cons to consider. We don't picture ourselves as "Hodlers", just playing around, and wanting to know the best method to keep things liquid if we did get lucky.

    With Chris' advice, we has been exploring and navigating these processes. (Thank you Chris!!!) I am putting this up, partly to take the strain off of him (ha!), as well as of course to hear others opinions, and be able to help others in my shoes/keep this thread going...

    So far, we have bought a little Etherium on Coinbase, and traded it over to Ripple on Gatehub, and that is where it sits as of now, for reference.....(A process that takes a bit of time to complete)

    **********I hope it goes without saying that I know there no way to know IF or WHEN that could happen, and Im NOT taking a second mortgage out, so don't feel like you're going to be responsible for my financial downfall if you offer any advice up....*********




    Thanks!!!!!!
    Carp
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    hope for the best, prepare for the worst, and make hay while the sun shines!

  2. #92
    Expert Carpenter's Avatar
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    Well shucks.....

    I don't know if its cause of our new "paying vendor" spamming this place so hard, or what.....I though someone might have piped in with an opinion on above post by now...

    My wife continues to experiment and learn her way around. She has been buying a little Ripple here and there, as it seems to be getting a little cheaper. Think she quit buying on Gatehub in favor of Binance cause Gatehub was seeming harder/more expensive than it needed to be. Basically have "lost" money at this point but not stressing it, as its such small potatoes and thinking of the longer term etc. Litecoin so far has held its own though.....

    Right now stuff is still spread out over three exchanges.

    Still curious if anyone has any experience or OPINIONS specifically geared at keeping the currency quickly and easily available in a fast moving situation where hrs never mind days seem to count a lot.....Needing to do multiple transactions to get back to dollars from something like Ripple?

    Also curious about buying a dependable Ledger at a decent price....We are fearful that Amazon ones could be a ripoff or somehow tainted.

    Thanks!!!
    Carp
    hope for the best, prepare for the worst, and make hay while the sun shines!

  3. #93
    XCR Guru Merlin's Avatar
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    Carp, I am no expert so I can't comment. I have been dabbling a little into BTC, BCH, ETH and XRP myself. Actually down nearly 50% from my initial investment, which is not that much <2K. Decided when I started, to stick with it and not try to day trade and leave what I have in there for the loooooong haul.
    I have been watching for a hardware wallet myself and decided on the Ledger but they have not been available on Amazon for a little while now and saw "Keep Key" but I too have some concerns about the wallets on Amazon.
    I use GDAX, and Poloniex to trade now, but registered with Binance, Kraken and Bitstamp, I have not used any of those to trade yet though.
    I am not too worried about the speed of the trades, more worried about the security of the exchanges, which is why I want to get a good hardware wallet.

    "Be Vigilant and Safe!!"
    "Molon Labe!!"
    "It Is A Weak Man Who Urges Compromise!!"

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  5. #94
    Expert Nomad's Avatar
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    Quote Originally Posted by Carpenter View Post
    Well shucks.....

    I don't know if its cause of our new "paying vendor" spamming this place so hard, or what.....I though someone might have piped in with an opinion on above post by now...

    My wife continues to experiment and learn her way around. She has been buying a little Ripple here and there, as it seems to be getting a little cheaper. Think she quit buying on Gatehub in favor of Binance cause Gatehub was seeming harder/more expensive than it needed to be. Basically have "lost" money at this point but not stressing it, as its such small potatoes and thinking of the longer term etc. Litecoin so far has held its own though.....

    Right now stuff is still spread out over three exchanges.

    Still curious if anyone has any experience or OPINIONS specifically geared at keeping the currency quickly and easily available in a fast moving situation where hrs never mind days seem to count a lot.....Needing to do multiple transactions to get back to dollars from something like Ripple?

    Also curious about buying a dependable Ledger at a decent price....We are fearful that Amazon ones could be a ripoff or somehow tainted.

    Thanks!!!
    Carp
    Check the list of authorized dealers on their site. I bought both of mine from a distributor directly. I haven't bought much lately, but am getting ready to start buying again. I actually was close to pulling the trigger and increase my holdings in several till the 30% jump the last 24hrs. I am going to give the g20 news a few days to die out and see where it goes. I am still up on my investment overall. But not a lot.
    Riding, Shooting, or Golfing...you pick and I will be there.

  6. #95
    XCR Guru Sean K.'s Avatar
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    Hopefully everyone's been paying their taxes on their crypto earnings....




    HAHAHA! TOLD YOU SO! in [Market-Ticker]

    I wrote on this a while ago and pointed out that cryptocurrency transactions are indelible and admissible. Therefore if you don't report and pay taxes on such transactions you will get boffed.

    Well, the IRS has apparently figured that out too and the boffing is coming -- starting now....


    Sent to me with personal information not included, of course.

    There's a nice "substantial underpayment" penalty along with interest on it too.

    Hope this person has it, otherwise the IRS will not only continue to accrue interest on that they may file an attachment on bank accounts and similar too....
    "Necessity is the plea for every infringement of human liberty. It is the argument of tyrants; the creed of slaves."-William Pitt the Younger

  7. #96
    Marksman TTEngineer's Avatar
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    Ugh, I hate the government so very much.


    Sent from my iPhone using Tapatalk
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    Light is fast ... fast is good

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