How do you people do when you handle and trade altcoins?

The Sceptical Chymist

legendary

Activity: 3332

Merit: 6809

Cashback 15%

Quote from: alyssa85 on March 23, 2016, 01:14:14 PM

Quote from: olarsson on March 23, 2016, 12:46:48 PM

There are hundreds of altcoins. How do you people do when you trade with altcoins? Do you have to install a new software for every altcoin you trade?

You just join an altcoin exchange, which is web based, like Poloniex or Bittrex. They usually require name, email and password. You then send some coins to them, and start trading - they usually feature hundreds of coins that trade against BTC.

Steer clear of an exchange asking you to download software - they are probably phishing/tracking scams designed to steal coins in wallets on your computer.

Exactly this. Unless you want to keep them in wallets, don't take them off the exchange. But I'd advise not keeping large amounts of coins on an exchange. Do your trading, get in, get out. There's so many of them...

kiklo

legendary

Activity: 1092

Merit: 1000

Quote from: olarsson on March 23, 2016, 12:46:48 PM

There are hundreds of altcoins. How do you people do when you trade with altcoins? Do you have to install a new software for every altcoin you trade?

For Proof or Work coins , I leave it on the exchanges, as they don't earn any reward for keeping them directly on my PC.
(Keep your PoW Coins split between more than one exchange , that way if the exchange crashes , you don't lose all of your coins.)

For Proof of Stake coins like ZEIT , Noblecoin, Hobonickel, & Bottlecaps,
it is smart to download and install their wallets, as you can stake and earn more.

alyssa85

legendary

Activity: 1652

Merit: 1088

CryptoTalk.Org - Get Paid for every Post!

Quote from: olarsson on March 23, 2016, 12:46:48 PM

There are hundreds of altcoins. How do you people do when you trade with altcoins? Do you have to install a new software for every altcoin you trade?

You just join an altcoin exchange, which is web based, like Poloniex or Bittrex. They usually require name, email and password. You then send some coins to them, and start trading - they usually feature hundreds of coins that trade against BTC.

Steer clear of an exchange asking you to download software - they are probably phishing/tracking scams designed to steal coins in wallets on your computer.

vlom

legendary

Activity: 1498

Merit: 1113

Quote from: olarsson on March 23, 2016, 12:46:48 PM

There are hundreds of altcoins. How do you people do when you trade with altcoins? Do you have to install a new software for every altcoin you trade?

you need some coins e.g. btc or ltc to start trading.

then can trade on exchanges. it is possible to keep the coins you bought in the exchange. but i don't recommend this. thats why you need a wallet for each coin.

olarsson

full member

Activity: 208

Merit: 100

There are hundreds of altcoins. How do you people do when you trade with altcoins? Do you have to install a new software for every altcoin you trade?

Topic: How do you people do when you handle and trade altcoins? (Read 338 times)