After purchasing some Bitcoins. I had to choose a platform so that I could do some trading.
According to the Crypto Trade Signals and other facebook groups, Bittrex and Poloniex seem to be most popular. However I will be choosing bittrex for no other reason than to be able to just get started.
How to transfer to Bittrex from LocalBitCoins
- On Bittrex, clicked on Wallets and on the list of cryptocurrencies, clicked on the PLUS (+) sign next to BTC Bitcoin.
- Being my first transaction I clicked “Generate Address”, it took a few seconds and then I coped the very long string.
- On LocalBitCoins (or whereever you have your Bitcoins stored) click on Wallet then send bitcoins.
- Paste the long address and the amount of BTC you want to transfer, MINUS the transfer fee. It auto converts to your local currency to let you know.
I’ve just moved all my BTC (about $700 USD worth).
- The founder of Crypto Trade Signals does daily postings and I’ve joined his telegram group to see what his recommendations are and test out 10% of bankroll at a time per recommendation. This is the easy way and I will allocate $350 to pick and choose various coins. An hour ago he has recommended to buy BAT on bittrex so I’ll put in $50 and see if I can get a few dollars.
- Crypto Coin Trader FB group has a few more people posting what they hold and what they think are low. Good to start with and I’ll try some trades here too.
- Keeping $350 USD to follow the BHW methodology of day trading. look for low and only sell after 5% increase. This is the slow and more safe way. I KNOW NOTHING RIGHT NOW ABOUT HOW TO USE ANY OF THE TOOLS so it’s going to be a long path
- I’ll probably adjust as we go.