Crypto currency n00b
Starting a small-time investment. Bought 200$ of BTC, LTC, and ETH. Wanted to get some BitcoinCash too but thought i should start with whats on Coinbase first. Those who have been doing this for a while- and best practices / lessons learnt for a n00b?
If you want to transact with bitcoin, you should first check the current fee pricing and the transaction backlog. If you want to send BTC to another wallet for whatever reason you could be paying over $20 for a transaction that takes 2 days. If you plan to keep everything in coinbase you donβt have to worry about that. The only disadvantage to keeping it all in coinbase is if the site goes down you wonβt have access to your coins. If you want to buy BCH, I recommend sending ETH to one of the big exchanges and trading ETH for BCH because ETH transactions are quick and cheap (pennies).
Do you realize how ridiculous it is for a supposed currency to have a $20 transaction fee and 2 days backlog? The current valuations has nothing to do with the utility of Bitcoin as a currency and only to do with human greed and financial bubbles
Lol when it crashes to 0 it'll be so obvious in hindsight too. Cryptobros will be kicking themselves working 10 yrs to get back to today.
Use gdax they donβt have commissions on limit trades
+1 op if you arenβt aware, GDAX is the exchange that coinbase uses and you can link your coinbase account with it