Day 1: Where to begin with trading cryptocurrency

[rtuin]

https://medium.com/@startingwithcrypto/day-1-where-to-begin-with-trading-cryptocurrency-b59117f3f53c

[shepardrtc]

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.

[rtuin → shepardrtc]

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.

[brianwawok → shepardrtc]

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

[OpenDrapery → brianwawok]

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.

[joshu → OpenDrapery]

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

[hndamien]

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

[rtuin → hndamien]

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