Newbie questions crypto thread

Gas

Kingfisher
Gold Member
My question: How do I invest in an ICO? I already have several thousand in BTC and ETH and have working accounts on two exchanges.
 

the-dream

Kingfisher
It differs from ICO to ICO but generally, prior to the ICO, you will need to go to the ICOs website, put in your email then at some point provide them with your ETH address and probably a photo of your passport to get whitelisted. Once the sale starts, they will provide you with an ETH address that you send your ETH to then they will send your new tokens to that address.
 

davyjose

Robin
Valentine said:
Buy ETH with fiat on GDAX/Gemini/Kraken, transfer it to Binance.

GDAX ain't working (keep getting BS errors during verification), Gemini doesn't do my country and Kraken's verification ain't working, and their support "has no idea" when it'll be working.
 

RedPillUK

Pelican
^ I would suggest searching on google to find out another website where you can buy ETH in your country.

It seems you have to use different websites to change fiat to bitcoin, depending on what country you or your bank is in.

Are the exchanges that list lots of altcoins worldwide? Or will I have to find one specifically for Mexico? Is bittrex the best one?

Also since BTC is slow and the transaction fees are high, people are purchasing altcoins with ETH or LTC, is it possible or a good idea to purchase altcoins with BCH? Or should I just buy some ETH? or LTC?
 

king bast

Kingfisher
When sending erc-20 tokens to a MEW or metamask wallet, once you've added the token and its contract address, do you just use the same ethereum address to send the tokens to?
 

Gas

Kingfisher
Gold Member
the-dream said:
It differs from ICO to ICO but generally, prior to the ICO, you will need to go to the ICOs website, put in your email then at some point provide them with your ETH address and probably a photo of your passport to get whitelisted. Once the sale starts, they will provide you with an ETH address that you send your ETH to then they will send your new tokens to that address.

So the coins will get sent to my ETH wallet?
 

the-dream

Kingfisher
Gas said:
the-dream said:
It differs from ICO to ICO but generally, prior to the ICO, you will need to go to the ICOs website, put in your email then at some point provide them with your ETH address and probably a photo of your passport to get whitelisted. Once the sale starts, they will provide you with an ETH address that you send your ETH to then they will send your new tokens to that address.

So the coins will get sent to my ETH wallet?

Yup, assuming it is a ERC-20 token, which 90% of ICOs are. You send the ETH then the tokens from the ICO will be sent back to the address that you sent the ETH from.

Some ICOs use NEO though instead of ETH and I'm not sure how they work. I also did a ICO which was for a new exchange (LAToken) and that gave me the tokens inside their exchange platform. I then had to withdraw them to my ether wallet.

But 90% of the time you just send the ETH then they just send the tokens back to your ether wallet.
 

Gas

Kingfisher
Gold Member
The coins I have access to buying with fiat right now are BTC, ETH, LTC and BCH. Which one of these has the lowest transaction fee (for when I send it to an exchange).
 

Gas

Kingfisher
Gold Member
Is anybody using the Bitfinex "Funding Wallet" to earn some passive income? I have some ETH sitting around that I plan to hold long term, I thought I could hold it in Bitfinex instead and earn a few extra dollars. Anyone used/using it?
 

bucky

Ostrich
I've never purchased crypto before. I'm in Central America. I would like to buy Monero and Ripple with USD using a credit card from a US bank. So far I've unsuccessfully tried three exchanges:

Kraken (doesn't seem to work at all at the moment, probably due to high site traffic)
Coinbase (doesn't support buys from my location)
localbitcoins (seems to only deal with BTC).

Can anyone recommend any other exchanges to try?
 

sonoran_

Kingfisher
Gold Member
Try changelly.com, it is a website affiliated with coinmarketcap. They say they accept credit card and Ive tried 2-3 times but it never went through.

Usually you are supposed to buy BTC or ETH and then buy other coins with them.
 

Lampwick

Woodpecker
Gold Member
sonoran_ said:
Try changelly.com, it is a website affiliated with coinmarketcap. They say they accept credit card and Ive tried 2-3 times but it never went through.

Usually you are supposed to buy BTC or ETH and then buy other coins with them.

FYI, Changelly is on the "avoid" list on the Monero subreddit. There are some threads detailing issues with them:

https://www.reddit.com/r/CryptoCurrency/comments/6u8tfh/changelly_scam_i_think_so/

https://www.reddit.com/r/CryptoCurr...r_issues_with_changelly_support_does_nothing/
 

Lampwick

Woodpecker
Gold Member
Gas said:
Is anybody using the Bitfinex "Funding Wallet" to earn some passive income? I have some ETH sitting around that I plan to hold long term, I thought I could hold it in Bitfinex instead and earn a few extra dollars. Anyone used/using it?

Sounds risky with all the rumblings about Tether.
 

bucky

Ostrich
sonoran_ said:
Try changelly.com, it is a website affiliated with coinmarketcap. They say they accept credit card and Ive tried 2-3 times but it never went through.

Usually you are supposed to buy BTC or ETH and then buy other coins with them.

Is it easy to exchange BTC or ETH for other cryptos, especially if I have to buy BTC or ETH from one exchange then trade it for Ripple or Monero on another exchange?

Someone else told me that BTC>XRP or BTC>XMR wasn't ideal because of the transaction fees and times. Is ETH any better?
 

Adonis

Pelican
Gold Member
bucky said:
sonoran_ said:
Try changelly.com, it is a website affiliated with coinmarketcap. They say they accept credit card and Ive tried 2-3 times but it never went through.

Usually you are supposed to buy BTC or ETH and then buy other coins with them.

Is it easy to exchange BTC or ETH for other cryptos, especially if I have to buy BTC or ETH from one exchange then trade it for Ripple or Monero on another exchange?

Someone else told me that BTC>XRP or BTC>XMR wasn't ideal because of the transaction fees and times. Is ETH any better?

If you're keeping it on the same exchange it doesn't matter, but some coins are only sold for BTC.

If you're transferring exchanges use ETH it is much faster and has much lower fees. But like I said above you may need to trade into BTC for some trades.

In hi vol trading periods I personally pay a premium for the speed.
 
I've never purchased crypto before. I'm in Central America. I would like to buy Monero and Ripple with USD using a credit card from a US bank. So far I've unsuccessfully tried three exchanges:

Kraken (doesn't seem to work at all at the moment, probably due to high site traffic)
Coinbase (doesn't support buys from my location)
localbitcoins (seems to only deal with BTC). 

Can anyone recommend any other exchanges to try?

try quadrigacx, I'm not sure if it work for Central America.
 

bucky

Ostrich
Dante.Migue said:
I've never purchased crypto before. I'm in Central America. I would like to buy Monero and Ripple with USD using a credit card from a US bank. So far I've unsuccessfully tried three exchanges:

Kraken (doesn't seem to work at all at the moment, probably due to high site traffic)
Coinbase (doesn't support buys from my location)
localbitcoins (seems to only deal with BTC). 

Can anyone recommend any other exchanges to try?

try quadrigacx, I'm not sure if it work for Central America.

Thank you. I'm checking out quadrigacx now. One more question, though. The country field on the registration page was originally set to United States and there was a message that the site doesn't currently accept users from that country. I switched it to my current country of residence and the message went away, so it looks like I'll be able to register. However, once I go back to the US, will I have any problems using the site? I'm guessing I'll be able to log on and transfer crypto between this exchange and others, just not purchase more crypto, but I want to make sure.
 

Germanicus

Kingfisher
After an agonizingly long time of research and learning the very basics of blockchain technology, I've decided to get into crypto. So just after Christmas I started signing up for exchanges... and I am stuck. In particular I've gone the basic bitch route of signing up for Coinbase but I'm also trying to sort out GDAX. GDAX is not accepting my ID. Now I've taken some very clear pictures of my ID with both a digital camera and with my webcam, but GDAX isn't having it. I've also noticed that Kraken and Binance are very slow in processing my information. Is it something to do with extra traffic because finally people are jumping onto the crypto bandwagon all at once plus it being the Christmas/New Year holiday? Or are they usually this fucking frustrating and slow?
 
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