It is true that we are new here. However we are not new to trading crypto. We have made one other post here, has been a while back, this will probably be our last. We also found out about this coin thru a newsletter. As we trade on many exchanges we receive many letters.
We are not fond of hanging out in places where people show complete ignorance of themselves or others. Looking at this thread today reminds us of a Friday night dance. Where people are dancing and having a good time. Until one person has to much to drink, then causes trouble ruining every ones night.
More about this coin further down into the read. As of right now we would like to help others in the community.
The crypto adventure and how we started years ago.
For you that are new to the crypto industry. Understand that it is a busy industry. There is no such thing as investing today while getting rich tomorrow. With the information we will give you here. You can make a good income trading crypto if you will just take the time to look at different exchanges and the many different aspects of the crypto business. It is a business, treat it as one.
It does not take a lot of money to get started, just follow the simple rules.
1) Never invest money you cannot do without.
2) Always buy low, sell high.
3) Have patience, it is a slow business when getting started.
Sign up for a few exchanges, they are free. Let us explore how to find them. Travel over to
https://www.worldcoinindex.com/Let's take bitcoin for example. Once at world coin index, click on bitcoin. It will take you to this link
https://www.worldcoinindex.com/coin/bitcoin On the right side you will see the markets. Those are also the exchanges. Scroll down to show all and click it. While you are there you will see many different prices the coin is trading for. You never have to pay full price as the market fluctuates daily.
Create an account at a few of the exchanges, we started out with five. Set all security features on your account. Make note of the exchange that have the low price, and the ones that have the high price. You will want accounts at the highest and the lowest.
Once you are ready to buy the coin of your choice. If you want to start fast, go to the exchange with the lowest price to make a purchase. If you want to take your time. Go to the exchange with the lowest price, then place a bid to make the purchase.
Note: To save money while moving from exchange to exchange. You can transfer directly. You do not have to bring the coins back to your wallet, then transfer again. This will save in fees.
Now that you have purchased coins at a low price. You can make a profit by selling them at a high price. There are many ways to do this.
Buying low on one exchange, selling high on another exchange is just one method. You will be able to see those numbers by following the links above.
Another way to make money with the coins is by going to another exchange to sell them. We will use local bitcoins
https://localbitcoins.com/ for this illastration.
On local bitcoin you can see many various ways to sell bitcoin for a profit. You can sell the bitcoins while having the buyer pay all of the fees.
Make a search of the site and you will see as in this illastration on how to do this. Once on the site, click on all online offers. Select moneygram from the menu it will take you to this page
https://localbitcoins.com/instant-bitcoins/?action=buy&country_code=US&amount=¤cy=USD&place_country=US&online_provider=WU&find-offers=SearchNotice the many price differences. Understand that these people will run out of bitcoin and will have no offers for sell until they acquire more. There is more than enough opportunity to make a profit if you will just take the time to explore.
Next look at the price for credit card, from the menu select credit card, it will take you to this page
https://localbitcoins.com/instant-bitcoins/?action=buy&country_code=US&amount=¤cy=USD&place_country=US&online_provider=CREDITCARD&find-offers=SearchNotice the price difference. Quite a difference in price. Make a mental note of understanding when thinking about these things. Never assume that just because one person is already doing these things. That there is not enough room for you. Remember these people do run out of coins, that is why they have buy limits.
Also while exploring here, click on the buy buttons. You will see the amount of satoshi they are selling. It will surprise you when you look even further into this industry and how money can be made with these coins.
Next, take a look at ebay
https://www.ebay.com You guessed it, just type in bitcoin in the search bar. You will see people selling $30 of bitcoin for twice the price. You can calculate the numbers by using this calculator found here
https://www.coindesk.com/calculator/Once you start to get accustomed to the trading, watching the numbers, you will start to get good with them. It takes a little while to get used to it. The more you trade and learn, you will be able to pick up on them quickly as in other things. Take your time to learn with patience.
When you look at inter trading it is a little different than just placing buy orders. This can be accomplished by playing the trades, then cashing out a percentage of the profits. To play the trades, you are making buy and sell bids on both within the same coin. Some of the exchanges call the buy bid side the wish side.
We never try to make buy or wish offers that are completely low. For example if a coin is trading at $25, we will make the buy/wish bid between $23 to $24. Then place back to sell at a higher number. We will also use what we call the sprinkle method. Placing several offers at many different prices in between. Using this method creates more satoshi, this adds up.
Trying to pick up large profits at once is a time consuming process. Just takes to long and is like investing today then waiting for years to reap the rewards. Making 2-5 per trade many times per day adds up a lot quicker. This is the reason why it pays to be on many different exchanges.
You would want to keep in mind a couple of things when trading. Never remove all of your funds from one coin or exchange. When we first started out, as I remember we invested in bitcoin at about $10. Then when it went to $60 we cashed it all out to buy furniture. That was a mistake. We never were able to buy back at that price again.
In these days we take a little from each exchange then list it for sale. Leaving plenty to run profit from trading. Once you get things built up and familiar with it all, it will come to you quicker. Be careful during the fork and splitting periods. Through the years we have seen a great influx of price at these times. Keep in the back of your mind at all times, what spikes in price real fast will come back down.
It is a good time to sell some coins for a nice profit. Also remember that you will want to hold some coins back for future trading. One thing we never do is start buying during these periods. We will wait for the market to remain stable again. This caught us with our pants down a few years back, we bought to high. Then had to wait to long to recoup the profits. For us a good time to buy is when the price is dropping, this is usually a sign that the price is going to start back up.
Another reason to have accounts on multiple exchanges during the fork or split events. Some of the exchanges close the deposit way to early before the fork, slowing down the trading process. This shuts you down if you need to make a deposit to that exchange for some reason or the other. When starting out it is a good idea to start with the smaller exchanges. One that has a slow amount of trading then move up to the larger exchanges.
Some of the exchanges allow bots, some do not. Like I mentioned earlier, the satoshi adds up. This will also make things look as if one person is constantly trading. Well it is someone constantly trading. It is a bot, the bot just places bids low, then sells high. It all depends on how the owner sets them up. As you can search for trading bots, you will find many different styles to choose from. We do not use them ourselves. We like to have complete control over our financial matters. My wife would have me in the dog house if a bot was to waste money.
Understanding the difference between the blockchain and the ethereum networks is a little more confusing for most people to understand. These are two totally separate systems. When you travel over to WCI here
https://www.worldcoinindex.com then click on bitcoin you will get this page
https://www.worldcoinindex.com/coin/bitcoin Now click on explorer you will get this page here
https://blockchain.info/ then click on see more that will bring you to this page here
https://blockchain.info/blocksThere you will be able to see all of the blocks running on the blockchain. You can see that the blockchain is running many exchanges, mining pools and so on.
Now lets take a look at the ethereum network. It is totally different in the way it works. Travel back over to WCI
https://www.worldcoinindex.com then click on the Omisego coin, again click on explorer you will come to this page
https://etherscan.io/token/OmiseGo then click on one of the links, I came to the first one and found this
https://etherscan.io/token/OmiseGo?a=0xa0313399856d0351fba145c6664d1b542e90da31 Let us examine this closely, the token holder is this 0xa0313399856d0351fba145c6664d1b542e90da31
Next let us look at the two trades. One is a buy, one is a sell. To the naked eye it would look as if the trades were revolving around the same token holder. That is far from the truth.
TxHash Age From To Quantity
0xfed73aa9bfec1c3c9c8fd7e37bc8019d70bf34f13ead0e7f0603c2c0a2267153 10 mins ago 0xa0313399856d0351fba145c6664d1b542e90da31 OUT 0x1151314c646ce4e0efd76d1af4760ae66a9fe30f 550
0x8800fdb380570279b75d9cf0107c04ffcb6a9587b0ddd76a297d93827d79cdcd 20 mins ago 0xf626df832cd36a9ec7a6c56dc4a6c28b30712adb IN 0xa0313399856d0351fba145c6664d1b542e90da31 550
Inside of the ethereum network, the token holder has all of the coins inside of that exchange until they are removed from that exchange. This will result in a different result when moving from the main exchange where the coins are held to another exchange. Removed meaning transferred to a wallet outside of the exchanges network. It makes perfect sense to make things simpler in design. That is what they did when creating ethereum. This also means that our inter trading as explained above will make it look as if the coins are going in circles with the token holder on every coin we trade utilizing ether. Especially if the coin is only traded on one exchange.
We hope that all of this information will help someone increase their lives. We are the kind of people that like to leave things a little better than we found it. It is never a good idea to make trouble or cause problems in places that would create losses on other peoples investments.
In no way are we giving anyone financial advice, we are just sharing our experiences. It is always good to get advice from the experienced, real people that trade daily, instead of the drunk that wants to ruin peoples nights. With that said we think this coin will be very useful in the future once it gains traction.