Day 1: Where to begin with trading cryptocurrency

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12 points·rtuin··7 comments

I think the easiest (and safest!) way to start for a beginner would be to get on Coinbase and just buy some bitcoin. Until you know what you're doing, don't mess with altcoins and exchanges.

Step 0) don't invest in things you cannot hope to grasp the fundamentals on based on hype.

Is buying a guitar in hopes of learning how to play it an investment? What exactly are the fundamentals? Do I need to understand vibration and frequency? Or just basic music theory?

I agree with your sentiment. But there is a difference between experimentation and investment.

You might get better at playing guitar. You are unlikely to get better at currency speculation.

Original author here.

Starting with bitcoin is probably the easiest, but on first contact with any cryptocurrency you should be prepared to lose it all. I'm on day 2 of my journey now on which I made first contact with exchanges. Now I found out that BTC, LTC and ETH are probably the best to start with, since they are the "base" currency to buy most of the other currencies. I hope to blog about that tomorrow or the day after.

Are you experimenting with trading or experimenting with cryptocurrencies - different things.

Both I guess, with my limited view on the matter I think cryptocurrencies are at this moment not much without trading.

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