Questions about buying, holding, staking altcoins - page 3.

Kavelj22

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Quote from: passwordnow on December 09, 2020, 04:45:49 PM

Quote from: Thementhor on December 09, 2020, 04:14:24 PM

Second thing, that I read something that every crypto has different blockchains, and when I wanna send one of my cryptos to my wallet, somehow it can be loss, because Ethereum can not be send to Bitcoin wallet? In this I totally confused, where I can send, where I can not, how can I lose my coins.

Thanks, best all.

That's right. Transactions must be done for every specific coin. Bitcoin for bitcoin, Ethereum for Ethereum. Take note of that. Always check the addresses and crypto that you're sending. You send Ethereum to an Ethereum address. Litecoin to Litecoin and so on.

To explain further, op you just have to bear in mind that all the cryptocurrencies you may want to buy can be stored within the exchange where you bought them but this is so risky. So the best option is to store them by yourself. Each token has its own blockchain network (expect for smart-contracts) so you have to use many app to do so. There are some good multicurrency wallets, i advice you to try TrustWallet which is a wallet lunched by Binance itself, you can trust it.

passwordnow

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Quote from: Thementhor on December 09, 2020, 04:14:24 PM

My questions are, that if I will buy it at Binance, should I open account for every crypto, or just one for all?

As long as all of those cryptos are supported and traded in Binance, you only need one Binance account.

Quote from: Thementhor on December 09, 2020, 04:14:24 PM

And how about staking these planned cryptos, where should I stake them?

If Binance has that coin supported for staking and they have it on their feature, you can stake it on them. But most of the staking coins have their own wallet and you need to download and deposit it on that wallet.

Quote from: Thementhor on December 09, 2020, 04:14:24 PM

Second thing, that I read something that every crypto has different blockchains, and when I wanna send one of my cryptos to my wallet, somehow it can be loss, because Ethereum can not be send to Bitcoin wallet? In this I totally confused, where I can send, where I can not, how can I lose my coins.

Thanks, best all.

That's right. Transactions must be done for every specific coin. Bitcoin for bitcoin, Ethereum for Ethereum. Take note of that. Always check the addresses and crypto that you're sending. You send Ethereum to an Ethereum address. Litecoin to Litecoin and so on.

Thementhor

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Hello guys.

I am newbie to the crypto world, and I read a lot of things about it, still I have unanswered questions, hope some of you can solve it for me.

Firstly, I am planning to buy two cryptos (Cardano, and VeChain), but later I plan to buy another ones, like crypto.com coin, RSR, or Zilliqua.

My questions are, that if I will buy it at Binance, should I open account for every crypto, or just one for all? And how about staking these planned cryptos, where should I stake them?

Second thing, that I read something that every crypto has different blockchains, and when I wanna send one of my cryptos to my wallet, somehow it can be loss, because Ethereum can not be send to Bitcoin wallet? In this I totally confused, where I can send, where I can not, how can I lose my coins.

Thanks, best all.

Topic: Questions about buying, holding, staking altcoins - page 3. (Read 403 times)