Topic: Help newbies: how to buy, hodl and sell altcoins - page 2. (Read 258 times)

u can buy with credit card or paypal. but the commission will be huge, after u calculate the commission, u will give up on using paypal or credit card

You should do the most safe way, buy Bitcoin and deposit that to your exchange account (ex. bittrex, binance, poloniex) and use that to buy other cryptocurrencies. If you want to hold it then transfer it to more safer wallet. Of course the safest way to secure your coins is to store it on a hardware wallet but the problem is not all cryptocurrencies are supported by them, so you will have to find the official wallet for that specific altcoin or you can just use a multi asset wallet like coinomi, exodus, or jaxx. It also gives you your private key so it is safe. Most people sell their altcoins by converting it to Bitcoin because it is more easier to find trusted exchanger for Bitcoin to fiat currency. But if you can use coinbase you can use it also to sell Ethereum, Bitcoin Cash, Litecoin.

there aren't that many places that accept credit cards, i think it may have something to do with the fact that there are so many scams with CCs! check out cex.io
and there are even less places, nearly nowhere, that accepts PayPal because it is stupid how easy it is to scam with PayPal!

as for holding, there are multi wallets like JAXX with a lot of bugs and issues, there are hardware wallets like Trezor which will cost you and finally there are exchanges themselves. each have risks and benefits. for example keeping on exchange means you never miss any dumping chance ever because your alts are ready to be dumped always.

You can try coinbase to buy bitcoin first, cause they support bank account, paypal, wire transfer, debit/credit card. Then send it to exchange that support altcoin you want.
You can use ledger or trezor for wallet, almost every cryptocurrency support ledger as a wallet.
selling alt bassicaly same like you buy it, just move it again to exchange and click sell.

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