Get started trading crypto currencies

Finance, Taxes, Banking, Insurance and Retirement
61
Depends whether it's a Stop Market or a Stop Limit.......a stop limit may not execute due to your reason, but a stop market should always execute, it might just be at a much lower price (hence a market order)

62
Surely it's time to watch this again, given the sweet irony that the boom in the darlings of the Austrian School, cryptocoins, is basically a result of quantitative easing (which couldn't be more Keynesian if it tried):

(I'm a Keynesian man, myself - fire up the helicopters)

63
It seems there is finally a good news coming in!

As read in several places, last "crash" happened after South Korea government announced news that they might closed or forbid crypto currency trading.

These news were followed by a market panic and chain reaction.

Now, the very same government realised they can not forbid that (they don't have that authority according to their financial laws; Source: the link below).

So instead of banning, they simply requested these Korean exchange to avoid anonymous trading and provided requirements for traceability.

Source:

https://www.newsbtc.com/2018/01/23/s...urge-imminent/

Bottom line, in my opinion, the fact that " six Major South Korean Banks to Support Cryptocurrency Exchanges " should remove some fears and encourage more people to invest. That should have a positive impact on the crypto currencies valuations, which could surge in value again.

Another news, dated 24/01/2018:

"The strict regulation of the South Korean cryptocurrency market by the country’s Finance Ministry and KCSC is an optimistic sign for the long-term growth of the industry, because it demonstrates the unwillingness of the government to ban the market and cryptocurrency trading."

Source:

https://www.newsbtc.com/2018/01/24/s...rrency-market/

I use this update to talk about another crypto currency, from a "technical point of view". That means that I do not say that crypto will worth a lot, I just talk about how they are using the blockchain to revolutionise a few traditional businesses. It's the VeChain (VEN).

Read this extract about "auto industry">

VeChain creates a digital profile for each car based on its unique ID. For example, it allows authorized car workshops to update the status of repair or maintenance done unto the digital logbook, thus following the car throughout its lifecycle and various owners, allowing car makers to trace the mileage, ensuring data is immutable and authentic. The car has a unique ID on the VeChain platform, this digital profile contains all related data of the car and operates the digital profile via smart contracts which is very useful in the near future where insurers and financing institutions are involved.

Source : https://www.vechain.com/#/solution/car

Even insurances can check that, and possibly some third party auditing the repairs, which should prevent/reduce some obvious frauds by mechanics.

At last, some improvements!!!

64
Which exchange/s do you use for CHF withdrawals? So far I only know Swiss bity.com

65
Use Coinbase/GDAX and open a EUR account. You can do that with any bank (I recommend Postfinance). SEPA transfer takes a day or two and comes from an Estonian (i.e. EU) bank.

66
Thanks for your quick response! I have already EUR accounts with some exchanges, just wondering if there is any Swiss exchange (apart from bity) that works with CHF as that would save time and money.

67
A SEPA from GDAX costs 15c and I doubt any Swiss exchange has lower trading fees (which are zero for maker trades). And there really aren't any Swiss exchanges with the liquidity and reputation of Coinbase (sure the exchange goes down sometimes, but so would any of the Swiss exchanges if they had the same liquidity).

One thing I like about Coinbase is that they write extensively about their security practices (and have a good reputation in security circles for said practices). There isn't such insight into other exchanges.

68
Choose your exchanges carefully:

Tokyo-based cryptocurrency exchange hacked, losing $530 million

(Hasn't affected the price, which is up a bit today for both BTC and ETH.)

69
Plop goes the Bubble or just Pfffffffffff ?

https://finance.yahoo.com/chart/BTC-USD

Question: How high does Schrödinger's cat bounce?

70
A question is where it will bottom out, and make it worthwhile to buy again.

Does anyone know if transaction costs are fixed even when the values drop? Or do transaction costs steadily increase in the life of the blockchain?

Because if the value drops, and there is less and less value in mining transactions, then we can expect it to die out, as nobody would be interested in mining it.

Or do mining costs drop along with the currency's value?

71
This is a beautiful market to be watching at the moment and very predictable from the reports of the Tether problems over the past two days (this has been know in crypto circles for a long time, but a big NY Times spread tends to concentrate minds).

The only question to be asking is when to close the shorts. (In fact now is a good time to at least take profits and refresh).

72
I am so happy I did not invest in this a couple/few weeks ago when it dropped from 18k down to 12k and I heard people saying "Do it, now is the time to buy!". I would have been 50% down now with no confidence that it would regain performance or at least not do the same again in a month.

The time to buy was 1-3 years ago... now to me it just look like a disaster waiting to happen and the risk is far, far beyond my appetite and tolerance.

73
This drop was predictable. Approximately 45 days ago, Interactive Brokers enabled the shorting of Bitcoins, and we're seeing its effect today. I think everybody knew it would be shorted.

Yet today's price still doesn't tell us a lot about its future value.

74
Now it makes sense to buy the cheap ones xD

Still I would prefer to buy shares of companies instead of cryptocurrencies.... so many downsides...

75
Today's price and the crazy fluctuations over the last month, combined with the determined intentions of many governments to crack down on cryptocurrencies to curb the criminal use, show us that it is very far from a safe investment.

76
It's definitely not safe for a cautious investor (which is what most people should be). It's ok for a small punt, but I'm not sure of what price I could recommend people to get in at since there's no real way to value crypto. (I outlined a 'finger in the air' method a few posts back, but that method isn't really sound).

It is exciting to trade, but that's not a hobby I'd recommend for anyone without a lot of experience.

77
No, its not meant to be a safe investment. Its meant to be a volatile and risky investment. Without the volatility, there wouldn't the same level of reward for the risk either.

78
it's meant to be risky and volatile? Really? No Phos, it's not 'meant' to be... it just is.

My point was that I think you have to be completely reckless to invest serious money in it now.

79
These drops in value are part of its appeal. They are opportunity for collectors to buy more of them. Strategists wait for these.

80
Yes, all of your forum posting clearly points towards the fact that you are a master... erm, strategist.