Lots of people have discovered cryptocoins lately, but buying bitcoins and altcoins is not without its risks and problems. The same goes for hodling them and selling them. So use your experience to help out newbies and maybe get some fresh ideas from your peers.
Buying bitcoins 4 years ago I experienced some problems: I live with my parents so I couldn't verify my address because there are no bills with my name on (gas, electricity, water). I tried to register at several exchanges, sending them a copy of my ID-card, giving them my phone number, ... only to fail to register because I couldn't send a copy of a bill. I didn't and don't feel comfortable giving so many companies a copy of my ID-card. In the end, Localbitcoins was the solution for buying bitcoins.
Now, I want to buy altcoins, but there are some problems as well.
I want to buy altcoins without having to sell any of my BTC or having to buy BTC first. Where and how can you buy altcoins with a VISA card or
paypal or ..., but without a lengthy registration procedure?
There are thousands of altcoins and tokens, and for most of them there are no desktop wallets available. How do you manage or hodl your altcoins? For some there are desktop wallets, that way you own the private keys, but for others you have no choice but to keep them in an online wallet. Does the availability of a desktop wallet or ownership of the private key affect your choice of which altcoins to buy? Which wallet do you use for a specific altcoin?
How do you sell your altcoins if you want to get rid of them or swap them? Do you sell altcoins for money or do you exchange them to BTC
first?
SUMMARY - THE THREE QUESTIONS:
1. How to buy altcoins with a credit-card or paypal and with a minimum of hassle?
2. How to hodl (specific) altcoins in the most secure way?
3. How to sell altcoins?
Thanks
1. Simply look up exchangs with huge volume on coinmarketcap.... It all depends on the way you are comfortable buying cryptos. Paypal might be convinient way but by buying with paypal you will end up paying higher fees, you can usually find sellers for paypal on localbitcoins for instance. Many exhcnages will ask you for ID verification, are you okay with this?
Some exchagnes you could look up: localbitcoins, coinase, kraken, cex,io , gemini, bitstamp, coinsbank and many more options....
2. Safest way is to keep your coins out of exchanges. Depends on what do you plan here, if you want to hold for longer period of time inform yourself about cold storage. Try to see if hardware wallets support particular coins where you will invest in.
If you want to trade frequently you may want to check coinomi wallet, sadly it is availbe only for android but they support many altcoins which can come handy as your private keys neevr leave your device. Do note that coinomi is not open source.
3. Selling altcoins well again through exchanges, to name a few: Poloniex, cryptopia, binance, shapeshift , bittrex --> these are some exchanges that trade crypto pairs
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You can buy ethereum for instance or litecoin. Do note that bitcoin fees are high and buying ltc or eth could lower your fee rate and can also result in faster transactions - this is handy if you are only doing trading.
You could try to buy some alts here at forum or something else, some altcoins can be bought directly with visa nowadays, but not many - popular and easier way might be bying btc/eth and trading for alts :/
