Hello, I don't know where to trade and how to start also, can you teach me how to start to trade and where shoul i need to start. I really like to invest. And where should you invest your bitcoin that has assurance. thank you!
Start with at least 1,000 to 2,000 petot if you are new to crypto trading.
COINS.PH - my process
1. Findout where you can exchange fiat/peso crypto. Mine, I started by opening a coins.ph account. there's also buybitcoin.ph but I find coins.ph as the most convenient.
2. Using coins.ph website or application, do a cash-in thru 7-11.
3. Present the email that you receive from coins.ph with the barcode to the 7-11 cashier. You don't need to print, you can use your smarthphone with the email and barcode and show it to the cashier, they'll scan it and then you pay the amount. You now have cash in your coins.ph peso wallet.
4. Next step, convert the peso to bitcoin in coins.ph.
5. Congratulations! You now have your first cryptocurrency!
NEXT STEPS:
1. Select the exchange where you'd like to trade. Create/open an account there:
1.1. Poloniex (you can do trading and lending here (lend your bitcoins for certain time for a profit in BTC). Good interface for a newbie but their website is kinda slow nowadays. I started here in Polo.
1.2. Bitfinex (Fast and secure, good interface as well but only a few coins/tokens to trade, good interface as well).
1.3. Bittrex (lots of coins & tokens to trade your BTC)
2. Get the Bitcoin exchange deposit address from the exchange that you prefer (Make sure you have the correct Bitcoin deposit address otherwise you can lose it).
3. Transfer the bitcoin from coins.ph to your preferred deposit exchange bitcoin address and wait for it to be confirmed in the blockchain. It may take 30 minutes or more if you select the cheapest fee. Triple check your correct exchange Bitcoin address please before hitting send!!
4. Now you have your BTC in an exchange! Trade away, anytime 24x7x365!!!
(You can do all these steps in less than 2 hours, if you have 7-11 near you!)If you want to withdraw. From the exchange, make sure that you convert it to bitcoin first, select withdraw and input your coins.ph bitcoin address. Wait 30-45 minutes for it to be confirmed. Once you receive the BTC in coins.ph, convert it to Peso then select your preferred withdrawal process.
That's how easy it is! It maybe daunting at first but like everything else once you practice, you'll eventually get a hang of it.
RECOMMENDATIONS:
1. Start small and invest only with what you can afford to lose and still be able to sleep at night.
2. Please do
due diligence on the cryptocurrency (coins or tokens) that you plan to invest in.
There is no assurance in trading, especially in crypto. Crypto trading is like the Philippine stock market on
Steroids since trading never sleeps, open 24x7x365 days. Do research, research, keep up to date with the news, etc.
3. Security: Use multiple/different passwords for every account that you open.
4. Security: Enable 2-factor authentication (Using google authenticator,
only if you have a smartphone)
5. Trading tips:
5.1. Know thy self. Alamin mo kung anong klaseng trader ka.
5.2. Control your emotions
5.3. Study technical trading indicators (this takes time and practice)
6. The market shows
no mercy that's why reco number 1 is very important. Imagine the people who bought bitcoin at it's high of $2,800 last month, it's now trading at $1,900.
We all started as Noobs!
Hope this helps!
