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Thread: Crypto Altcoin Basics

  1. #1
    Bio-Active's Avatar
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    Lightbulb Crypto Altcoin Basics

    Crypto Altcoins Basics 101

    How many of you have interest in crypto and how it works?

    1. Everything starts with some sort of exchange and moving purchased altcoins to a wallet.

    2. The most popular exchange is Coinbase (Gdax) but there are others like Coin-mama, Localbitcoins etc...

    3. Once you create an exchange account you need to either link your bank account to it or a credit card to purchase altcoins. One way around using an exchange is looking for a Bitcoin ATM in your area. You can convert USD directly to altcoin and send to your wallet from the ATM. Takes about 2 minutes and I see the funds in my wallet almost immediately.

    4. Once you have purchased altcoins you want to move them from your exchange wallet to a secure wallet like Blockchain. If you used Coinbase to buy Bitcoins then use Gdax to move them to your secure wallet. Gdax is coinbase but charges less fees to move your coin. Most exchange wallets monitor everything you do and are under heavy restrictions so moving to a secure wallet is always the way to go.

    5. Now with that said Blockchain only supports Bitcoin, Ether. There are other wallets that support much more like Binance. This is a really good one that has lots of different altcoins and there current value.

    6. So if your interested in other altcoins the easiest way to purchase those are by buying Bitcoin or Ether and then converting it to other coins by sending the Bitcoin or Ether to your Binance wallet.

    7. So in short use either Coinbase (Gdax), Coinmama or the Bitcoin ATM to purchase Bitcoins or Ether. From there either move them to Binance to invest them or move exchange them. Later they go to Blockchain to pay bills.

    8. If you are unsure of a transfer from wallet to wallet use blockchain.info copy the wallet addy you moved the funds to and you can see the transaction pending there ---> Blockchain Support

    9. Here is the link---> Blockchain.info

  2. #2
    Donthate is offline New Member
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    Thank you for the info

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    Quote Originally Posted by Donthate View Post
    Thank you for the info
    It's all so confusing to me. I guess I just need to jump in with both feet and get wet. Only way I'm gonna learn. Westren Union is killing me. A $360 order cost me$40 just to send. Can't even get money Gram to accept a transaction anymore. In fact can't even get Westren Union to either if over a grand unless I go to the mother store in my city.

    Sent from my SM-G892A using Tapatalk

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    Oliver47 is offline Junior Member
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    Thanks for the guide! I personally believe in altcoin and bitcoin. The development of the technology will promote the crypto more powerful.
    Although the total value of the market has fallen sharply recently, I believe it is just a small storm to prepare for a big price surge. Just monitor prices through https://cryptolinks.com/cryptocurrency-price-tracker

  5. #5
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    I spend time on binance. It keeps up on most of the current values

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    Frank777 is offline New Member
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    Thanks for this info! I believe in cryptocurrency. I've been using Bitcoin for more than two years and I haven't regretted my choice yet, especially taking into account that its price has been increasing. Also I've recently invested in Ethereum and Altcoin. It has to be noted, today we have several digital coins with a big potential. In case someone wants to find out more about various crypto projects and other people's thoughts, I can recommend to check cryptocurrency user reviews on revain https://revain.org/projects (this is a platform where an independent cryptro users share their experience).
    Last edited by Frank777; 12-11-2019 at 10:46 AM.

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    Bio-Active's Avatar
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    Yes there are more and more crypto all the time. Everyone wants part of the pie.... lol I still think the BTC Etherum and light coins will be the heavy hitters for a while

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    jstone is offline Knowledgeable Member
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    Monero hopefully will gain more traction, from what i have read its the most anonymous crypto available.

    All the info was great Bio, but one way of buying crypto currency you didnt mention is an app called abra. Its one of the easiest ways to buy coins i have found. You can go from no account to coins in your wallet in less than an hour. You also dont have to send in pictures unless you attach a bank account to it.

    A private forum im on has some other brokers listed if your interested in checking out some new ones let me know and i will post the info. Coinmama, and coinbase suck dick. You need to transfer to another wallet bdfore sending to your supplier or your account could get banned.

    I had my coinmama account banned by attempting to send funds to my dark web market wallet. With abra you can send your funds straight to anywhere you want. I also started using monero whenever available, people who are much more into cryptocurrencies said its the best for anonymity right now.

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    Quote Originally Posted by jstone View Post
    Monero hopefully will gain more traction, from what i have read its the most anonymous crypto available.

    All the info was great Bio, but one way of buying crypto currency you didnt mention is an app called abra. Its one of the easiest ways to buy coins i have found. You can go from no account to coins in your wallet in less than an hour. You also dont have to send in pictures unless you attach a bank account to it.

    A private forum im on has some other brokers listed if your interested in checking out some new ones let me know and i will post the info. Coinmama, and coinbase suck dick. You need to transfer to another wallet bdfore sending to your supplier or your account could get banned.

    I had my coinmama account banned by attempting to send funds to my dark web market wallet. With abra you can send your funds straight to anywhere you want. I also started using monero whenever available, people who are much more into cryptocurrencies said its the best for anonymity right now.
    I have never had to show ID for any transactions. Must depend on where you reside. I havenít looked at abra but you have my interest, I have a BTC atm right up the street and no ID needed for transaction under 1k per day. I send funds direct to either blockchain wallet or mycelium wallet. Itís easy. I know lots of guys like cash app to

  10. #10
    jstone is offline Knowledgeable Member
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    Quote Originally Posted by Bio-Active View Post
    I have never had to show ID for any transactions. Must depend on where you reside. I havenít looked at abra but you have my interest, I have a BTC atm right up the street and no ID needed for transaction under 1k per day. I send funds direct to either blockchain wallet or mycelium wallet. Itís easy. I know lots of guys like cash app to
    If you sign up at coinbase or coinmama, and quite a few others they require a picture of your ID front and back, along with a selfie with something written on a piece of paper.

    Bitcoin atms are nice, but just use abra now. The fees are less then the local bitcoin atms, and i dont have to leave home. You can also purchase lots of different cryptos with the app.

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    Quote Originally Posted by jstone View Post
    If you sign up at coinbase or coinmama, and quite a few others they require a picture of your ID front and back, along with a selfie with something written on a piece of paper.

    Bitcoin atms are nice, but just use abra now. The fees are less then the local bitcoin atms, and i dont have to leave home. You can also purchase lots of different cryptos with the app.
    I have a coinbase/Gdax account and never had to show ID. It may have something to do with the state you live in IDK

  12. #12
    jstone is offline Knowledgeable Member
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    Quote Originally Posted by Bio-Active View Post
    I have a coinbase/Gdax account and never had to show ID. It may have something to do with the state you live in IDK
    If you started your account a while ago things may be different, but i have moved to 2 different states in the last couple years. They both required the pictures, and a lot of people i know on other forums have said the same thing. I dont think its the states, because abra didnt require it, and neither does coinomi.

    I also dont like coinbase, because they watch your transactions very closely. You always have to transfer to another wallet before sending to your source. Which i know is a good practice, just sometimes i want to be lazy, and send coins directly to someone.

    As of late i have been using a blender service or monero. The blender cost a little extra but you cant trace it easily after it goes through a blender service.

  13. #13
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    Yes using a blender is a good practice for keeping them more private

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