#1.Copy your Ethereum address from Coinbase or binance | Explore Tumblr Posts and Blogs

bentonpena · 3 years

Text

Dogecoin: Everything you need to know about the cryptocurrency

https://bit.ly/2QIafNw Dogecoin: Everything you need to know about the cryptocurrency https://bit.ly/2QL3D11

We're going to the moon.

The proponents of Dogecoin or DOGE, a cryptocurrency that started as a joke but is now one of the most popular coins around, would have you believe that the sentence above is all you need to know about Dogecoin.

In a way, they'd be right. Dogecoin does not require a lot of thinking. Fans of the cryptocurrency simply buy it and hodl it (a crypto way of saying "not selling") until...well, until something great happens. Until you become rich, perhaps.

But is it really that simple? Read on.

The history of Dogecoin

It started as a joke. Bitcoin, the original cryptocurrency, was an impressive technical innovation that let anyone exchange digital money at low fees and without the need to ask for anyone's permission. But Bitcoin was also open source, meaning everyone could copy it, and at one point, everyone did, with clones such as Litecoin and Peercoin popping up everywhere.

Dogecoin is the funny answer to this trend. Created in December 2013 by software engineers Billy Markus and Jackson Palmer, it's a copy of Bitcoin (more precisely, Litecoin, which itself is fairly similar to Bitcoin) that features the Shiba Inu dog and is almost always referred to in silly language that abounds with dog- and moon-related metaphors.

Almost from the get-go, Dogecoin garnered a devoted following. It attracted people who liked the idea of crypto but wanted to make fun of Bitcoin. It attracted people who liked dogs. It attracted anyone who wasn't particularly serious about crypto, but still wanted to participate.

Much wow.

Image: yuriko nakao/gettyimages

Not everyone gets it. Even its co-founder Palmer washed his hands off it — in 2018, he said that the skyrocketing price of Dogecoin was a signal that the crypto market was overheated. "I think it says a lot about the state of the cryptocurrency space in general that a currency with a dog on it which hasn’t released a software update in over 2 years has a $1B+ market cap," he said in January 2018 — and sure enough, the crypto market suffered a horrible crash a few days later.

But Dogecoin persevered. Partly, most likely, due to the fact that it doesn't require a lot of active management, and partly due to the crypto space recovering tremendously in 2020, Dogecoin has become bigger than it ever was.

Is Dogecoin technically sound?

Not really. Well, it is, in the sense that it started out as a copy of Litecoin, which is fairly technically sound. It's a cryptographically protected online network that lets one user send DOGE to another in a permissionless way. It works, though it's not nearly as secure or decentralized as Bitcoin.

But Dogecoin was never particularly innovative. Sure, there are some differences — it has a shorter block time than Litecoin's. Unlike Bitcoin's, its supply isn't limited — currently, there are 129 billion DOGE in existence, and more may be minted. But the biggest difference is that Bitcoin and Litecoin are actively managed, and frequently updated to address bugs and shortcomings. Dogecoin does get updated occasionally, but sometimes years pass before a new version comes out.

You should think of Dogecoin as Bitcoin's silly cousin — it takes nothing seriously and it doesn't care about what will happen tomorrow. It counts clouds while you clean the house. It plays beer pong and listens to GWAR while you try to do serious work. DOGE just don't care.

Elon Musk <3 DOGE

Elon Musk likes silly stuff, and Dogecoin is plenty silly, and...you see where we're going here. The CEO of Tesla and SpaceX has voiced his admiration for Dogecoin on numerous occasions, mostly on Twitter, with his tweets often propelling the price of Dogecoin to new heights — at one point, the price went up more than 100 percent following a Musk tweet.

In a Clubhouse interview in February, Musk explained why he likes Dogecoin. "Arguably the most entertaining outcome, the most ironic outcome would be that Dogecoin becomes the currency of Earth of the future," he said.

When it comes to actual business, Musk is a far bigger fan of Bitcoin — after all, Tesla recently bought $1.5 billion worth of the currency, not DOGE. But Twitter and memes are one thing, and Tesla's balance sheet is another. For now.

By the way, Musk isn't the only celebrity endorsing Doge. Rapper Snoop Dogg is also on board, as is Kiss singer Gene Simmons.

How do I buy a DOGE, and should I?

Dogecoin isn't as ubiquitous on crypto exchanges as Bitcoin — for example, Coinbase and Gemini do not offer DOGE purchases. But many major exchanges, including the world's biggest exchange, Binance, do offer support for Dogecoin.

Once you buy DOGE on an exchange, it's similar to owning any other cryptocurrency: You can either keep your coins on the exchange, or transfer them to your own wallet software — an official wallet is offered on the project's website, dogecoin.com.

Will Dogecoin hit $1?

Ah, so you've seen the price soaring, and you think it may be a good investment? Hold on for a second before you take the plunge.

While Dogecoin has a massive fanbase and the support of one of the world's richest people, there's no denying that the project isn't as technically interesting as other major cryptocurrencies such as Bitcoin and Ethereum.

Think of it as stock of a company that produces next to nothing and consists of a few sofas in an empty office, but that has a really cool dog logo — and people, for some reason, really, really love it. Could the price of the stock go up? Sure. But it could also go down, all the way to zero, because...why not?

Here are a few numbers. The price of DOGE at the time of writing was $0.26. A year ago, it was around $0.002, making this a 13,000 percent price increase. With a circulating supply of more than 129 billion coins, the market cap (total price of all DOGE that currently exist) is now roughly 34.5 billion dollars. You'll often see proponents saying that DOGE must reach $1 at some point. If that happens the market cap will be roughly $126 billion. Everything is possible, but you have to wonder, how far can the joke go?

It boils down to this: If you're a professional or at least a very seasoned trader and you know what you're doing, you might make money trading DOGE. But if you're not, then you're just gambling, and you should never gamble with money you cannot afford to lose.

Tech via Mashable! https://bit.ly/2KzLn52 April 22, 2021 at 07:18AM

#IFTTT #Feedly #@b3n70n

0 notes

lindajohnsonn · 5 years

Text

Kraken exchange review – the best solution for your Bitcoins

Kraken exchange review – what is it and how does it work? Learn why is it unique

Do you want to know which is the best solution, if you want to short cryptocurrencies? Watch our latest video of Kraken exchange review, to find out about one of the only cryptocurrency exchanges available for U.S. citizens.

Kraken exchange review – a guide for cryptocurrency market.

Hello, and welcome to Diary of a Trader. Today, we’re going to be going over, in this video, the exchange for cryptocurrencies Kraken, which is unique in that it is one of the only cryptocurrency exchanges available for U.S. citizens, that allows you to short cryptos. For the normal person, unless you have an LLC, or you are an accredited investor, it’s difficult to open up an account on an exchange like a Bitfinex. So, Kraken is probably the best solution, if you want to short cryptocurrencies and actually, shorting is a very good idea. It is a very normal thing in every market. It is the other half of trading and it should not be discouraged, it should be encouraged. But leverage is risky, so you know, before you do anything, make sure that you know what your risk tolerance is and past performance is not indicative of future results and all of that jazz.

So, let’s go ahead and get into it, we’ve got the front page here. You know, we’re not going to go through the entire account creation process because we’ve gone through that with the Coinbase and the Binance videos and the process is very much the same. It still includes uploading photos, it’s the KYC, Know Your Customer rules and regulations that you need to follow, but once you’ve done that, then we can just go to Login. And I’m actually going to point out that there are a couple of parts, there’s like two sites that you would use for Kraken. There’s the main page, which we’re going to investigate right now, and then we have to put in our two-factor authentication, and that’ll bring us to the main site and that is right here. So, it tells us what our positions are, what are the prior trades that we’ve done, in and out deposits and such, trade balances and all of that here. And it will do it in any currency that you want. So, it defaults to the Euro, but, of course, I’m in the States, so I’d like to look at it by there. Otherwise, we can look at these values depending on others, as well. So, we have the trade area here, we can put in new orders, like so. And then, there’s a couple of other options, so we have the Simple Ordering and then we have Intermediate and we have the Advanced.

Now, this is, on the right side of that, this is the trade.kraken.com, this is actually their newer interface for the trading part of it, where they actually have some indicators and the order flow like you’re familiar with some other exchanges, but we’ll come to this here in a little bit. But this used to be the only way you could do it, and you can see here that there’s leverage available, okay? So, you see leverage for XBT, is Bitcoin. So Bitcoin-Dollar, you can get up to five times leverage, if you want to buy or sell to short… To short, you sell and you can do that with Ethereum, they have five times leverage. But those are the only two. They don’t have five x leverage on everything. They only have five x leverage on Ethereum and Bitcoin and that is about it there, unless they have done it for Ethereum Classic, two times leverage on Ethereum classic. Some pairs have two x leverage, but the only ones that have five x leverage is Bitcoin and Ethereum. And then, you would put in how much you want to buy, when you want it to start, you want to do it right away, like a marker order, and this is actually more of a confusing process than you would do it on the order form itself. We’re going to get to how to do the order process, their new trade site in a moment. The funding will just, if you want to transfer over cryptocurrency from one exchange to the other, that’s where you do it here. It just looks a little different than what we’ve seen on Bittrex, Binance and Coinbase, and so, if we wanted to, let’s say we’ll look at Litecoin, and if I wanted to transfer Litecoin, I’m going to get prompted to acknowledge that if I send it to the wrong address it’s not Kraken’s fault. And I select here. Now, what makes Kraken a little different… Well, another thing that makes him a little different is that the deposit addresses, they expire, alright? So, on Binance and Bittrex, when you have deposit addresses for Bitcoin, or Ethereum, or Litecoin, or Dash, all of those stay the same, they don’t change. Kraken is a little different, and if you’re used to using the same address over and over, you really want to double check, because, after a certain period of days, these will expire, so you’ll have to generate a new address and once that’s done, I can say Select, right-click on it, go to copy and then I have my Litecoin address and if I wanted to deposit Litecoin over here, to trade with, then I could just send it over here like we do on any other way that we’ve seen on the other videos. Send, you can look at EOS, Gnosis, Monero. These are the coins that they allow you to deposit to Kraken.

And, I’ll say that Kraken has a little longer time period for the coins to show up than other exchanges. I’m unfamiliar with why that is. If that’s part of their internal issue, or if that is just the nature of the beast, I’m unsure. The withdrawal process is the same. If we click on Withdrawal and then we will get the same here, that we can take a peek at and see how many we’ve withdrawn in the past. If you look at the Euros and the Dollars, in order to transfer in Dollars, you’ll have to go through the KYC process, where they… You have to get to that level three KYC process, and then you can add your bank account in here and directly deposit dollars, which is a very efficient and a very fast way to do this. Is very similar to Kraken. This is one of the few U.S. Exchanges that actually lets you deposit US dollars into the exchange. A lot of other exchanges, you can’t do that. So, we have this right here, and then the audit is, I don’t want to click on that, because that shares personal information. Security, two-factor authentication, master key, trading if you wanted to do two-factor authentication for trading, that’s kind of a pain in the butt, because every time you take things on or off, you, as far as a trade, if you want to buy or sell, then you’re going to have to put in your two-factor authentication. But, for two-factors withdrawals, I’m surprised that I did not… I’ll do that later. But, you definitely have two-factor authentications done for deposits and withdrawals. That way, in case somebody were to somehow access your Kraken account, even with the two-factor authentication, to do the withdrawal, they would need to do that again. On Settings, this is just the information, basic about your account name, public account ID, your email and all that jazz. The History is just going to give you your detailed list of some of your withdrawals, when you logged in, rollovers, like fees that are paid for holding margin trades. Get Verified, this is a KYC process so, you know, it says right here, These are the requirements, so you know Tier 1 – Full name, Date of Birth, Country Residence, Phone Number. Address Verification is for Tier 2 and then Tier 3 is where you get to have a lot of these higher limits, you know, $25,000 deposits, $25,000 withdrawal, these are for daily withdrawals and deposit, monthly limits and $200,000 for monthly and $200,000 worth of crypto withdrawal monthly. And, for here, this is really just a lot of the same things that we would need to do that fulfill all the KYC requirements, the ID, front and back of your driver’s license, or your passport. And then, for Tier 4, we have these higher levels and, in fact, I know for a fact that you are not limited to the $500,000 at Tier 4, that is just what they put here. If you’re an accredited investor or if you have your own LLC and it’s well capitalized, you just have to show some proof. They’ll send you an email with things that they’ll want to know about you, and if you are an accredited investor you know what your income limits are to fulfill those SEC standards, and yeah, it’s a fairly simple process to go through all of this, okay?

Mt. Gox claim this is no longer in use, here on Kraken and it’s really not worth spending a lot of time going over. So, again, the main page of Kraken is right here. Well, if you click on Account, then that’s just going to bring you over to the same tabs that we had right here. And the trading on Kraken used to be done here, but now they came out earlier in this year of 2018, they came out with this site where they have their own, mostly proprietary, charting software, they deviate a little bit from their peers in that they are using their own setup and not using TradingView. And we can see that the pairs that they offer, we see Dogecoin, we see MLN, you know, they’ve got some pairs that are old, that do not have a lot of volume or participation, but they have added some others like EOS, Ethereum Classic, XRP. And so, if we click on the BTC/USD pair, we can see that it looks much like any other chart. The indicators that they have here, you can change the type of chart you want to look at, if it’s a Line chart, a Bar chart or the Heikin-Ashi charts. You can adjust the charts to be a percentage or logarithmic. The overlays that they have here are very limited. The Williams Alligator, this is an interesting moving average crossover system where the three moving averages are identified as the lips, the mouth, and the jaw… Lips, teeth, and jaw, so it’s like a mouth is opening, that’s the Williams Alligator system. Ichimoku system’s on here, it’s probably all you’d really need, in my opinion. I love the Ichimoku system. They have other indicators for down below the various oscillators here, like the RSI, the Stochastic RSI, the On Balance Volume indicator, which is a very nice one. I mean, the indicators that they do have here, they do not have a large selection, but you really don’t need more than what they have here, I mean the CHOP Index is here, this is an interesting indicator. In fact, this indicator was created a little oddly. It’s not really based on a lot of math, it’s based off of the bereavement cycle. The gentleman who created this indicator asked a number of pastors and priests and he said, “Well, how long does it usually take for a person to recover from the death of a loved one?” And they said, “Nine to 11 months”, so, all he did is he thought, “Well if there’s a significant drop in the market, how long does it take for a person to get over that loss of money?” And that is kind of the calculation that… You know what, that’s the _ curve, not the Choppiness Index, but you just learned something different.

So, we can see here, here’s the visual representation of the book, the number of values itself, we have the bids and the offers, bids and asks, and we see here we have the trades that were executed and then, over here if we wanted to execute a trade, we can do it by Market, Limit, Settle Position, Stop Loss or Take Profit. And again, to short, because this is the bitcoin-dollar pair, if you want to short, all we would do is hit Sell and we would do five times our leverage, and then that would execute the order and the orders populate on the screen.

The Kraken Exchange is very well done. Aesthetically, it could do a lot better. I will mention one thing, though, if you have this screen up, this automatically logs out after a couple of minutes of not using it. You will have to re-log in frequently on this Web site if you’re trying to use it along with the trade screen here, so just be aware of that. This is very annoying if you are trying to keep track of things on two different screens, this screen will log you out very fast and right, we have a pretty nice idea of what this is capable of. Now, personally, if you might be asking me, “Well, why do I need to have money on different exchanges or why would I want to have money on different exchanges?” One of the reasons that, you know, like I have Ethereum that I have parked ready to send over to Kraken in case it’s going to short. The reason I don’t have a lot of holdings on Kraken, is because last year, they had an update and it was down for quite a while, and there was a lot of paper loss involved, and I wanted to use a lot of that liquidity on another exchange because I wanted to buy, so I have my Ethereum sitting on a wallet and when I want to go short, I can just send it back over here and hopefully it’s active. The issue that Kraken has faced is, they’ve lost a lot of customers, especially in the latter part of 2017 because they could not keep up with the influx of new customers. They had some technical issues. They just had a really, really dark stain on their reputation. But, they have been very, very proactive about addressing that and fixing that, and since then, they have done a lot better. We’re going to go over some of those here near the end of the video. But, to answer the question of why would I want to use this exchange? It’s because you can short cryptocurrencies on it. So if you’re a person who likes to hedge their longs with shorts, this is a great opportunity to do that. If you want to trade in the bear market and not just take pullback trades, because this is a frustrating market that we’ve been in ever since 2017. It’s hard to want to trade in a market that is mostly to the downside and if you’re not able to short in a bear market, you’re really limited to trying to guess where a bottom is going to be and enter that. But shorting is very effective, it’s profitable. It’s part of a market. It provides honesty and integrity to prices. It is essential. It should not be demonized, it’s really one of those things where it’s not good or bad and neither is bullishness good or bad. It’s just part of how a market is treated.

And so, let’s look at some of the things that Kraken has done to really address their customers. You know, they haven’t faded away. They haven’t tried to just kind of distance themselves, they haven’t slowed down, they’ve actually worked very, very hard. And I would like to give Kraken some credit, where credit is due, because there are a lot of exchanges and there’s a lot of other things in this industry, this entire cryptocurrency sphere where there’s a lot of people who and organizations that try to take advantage of people because they’re able to or because they just don’t want to put up with the headache. I don’t know what it is but in any new emerging market an asset class you’re always going to have bad actors, but Kraken has really tried to do a good job by doing well to their customers. Over the last quarter, and this is in July of 2018, they’ve been pretty good about reporting some statistics, so their satisfaction of client satisfaction ratings, according to Zendesk, for the exchange industry is Kraken’s at 94% versus 93% replies to resolutions. They’ve got a number of replies from a support specialist to a client 1.35 versus the BenchMark of nine. Total resolution time, takes about two hours less than the BenchMark’s. The first reply time is about an hour less than the first Benchmark. Ticket volume, they have had a lot of tickets and I think if Kraken were to really touch up that main page or just get rid of it, they would have a lot less issues, because, you know, trying to figure out your leverage amount or limit or how much you’re able to do is not very apparent on Kraken. They don’t have a very good interface. So, 133,671 tickets versus the BenchMark, of 421. One touch resolution, the percentage of support tickets solved with one response, 68% versus 37%. Those are actually pretty good numbers. The KPIs, Key Performance Indicators and Accomplishments, you know, you can see here that they’ve really, really done a phenomenal job of addressing a lot of the issues related to their platform, in the market, in general, and really, if you look at the decrease in the volume of some things, that is really indicative of the decreasing volume of the retail participation in the market because it has been in a bear market all of 2017, and we can see that the satisfaction percent was in the third quarter of 2017, so prior to the monster bull run, it was 89.19% and then, in quarter four, in the first quarter, quarter four was when we saw that massive rise to near 20,000 in Bitcoin, Kraken had a lot of technical issues, they weren’t able to keep up with the volume. You know, in their defense not many exchanges, even Coinbase had difficulty keeping up with the demand. So, they had a lot of bad feedback there, that extended into the first part of 2018 and when things kind of slowed down, as they normally do during these peaks, they’ve spent this time during this low volatility, it hasn’t been low volatility, but the low volume participation they’ve really spent this time to develop a better and a safer and secure and efficient service. And I am actually very impressed, personally, with how smooth it has bee, ever since last January.

The client satisfaction has improved significantly, 94% compared to 80%, the prior quarters. These are all the things that we went over median first response time is strong improvement, to 2 hours this quarter, compared to over 7 days in quarter 1. This was an issue, I remember putting in tickets myself, and the fourth and first quarters of the last calendar quarter of 2017 and the first calendar quarter of 2018, it was impossible to get a response. There was actually, I remember I wasn’t the only one complaining about it. There was a lot of people all over the place complaining about those long wait times. Median total resolution time has improved, the Tier 4 applications are processed and approved in less than six hours, which is actually phenomenal because those kinds of applications really require a lot of, you know, a person reviewing it and doing the due diligence on Kraken side, to make sure that they fulfill these requirements to have those kinds of limits. So there’s something great about that, the Tier 3 verifications too kind of require a personal touch, because they need to verify the IDs and the pictures and only two complaints filed with the Consumer Financial Protection Bureau, down from 17 in quarter one. I’m actually surprised by that, that there were only 17 in quarter one of 2018, that is very different. The highest daily number of tickets was 18,388 in January 2018, highest daily number of new accounts was 71,000, alright? 71,000 new accounts on January 3rd, 2018. Top 5 ticket categories: Verification, General Questions, Fiat Funding, Account Access, and Crypto Funding. Crypto Funding and Fiat Funding, the margin would definitely fall under those issues and nearly 700,000 accounts have been verified on their exchange over this period.

So, Kraken has made a pretty good effort in there, in the entire crypto sphere. It’s very evident by the creation of this new trading platform that they have, this new charting and trading look is very welcome, probably due with a little more aesthetic look, maybe do what their competitors do, and just tap into TradingView’s service, but otherwise, this is probably the best option. I think it’s the best option, I mean, personally, I enjoy Kraken a lot. It’s the easiest way for a U.S. citizen to access the ability to short on margin in cryptocurrencies. It’s one of the only ways to do it, and even if it wasn’t it is actually one of the safest and one of the more efficient ways to do it. They don’t have the predatory leverage like you see in a lot of other exchanges outside of the U.S. The leverage is limited. But that’s, you know this is a retail-based exchange and they got to know their customers and retail traders are very, very prone to getting into the gambler’s mindset and over leveraging already, so limited to five times, I think that speaks to their integrity and their willingness to limit the leverage and to make sure that they’re doing right by their customers. So, yeah I mean it’s a pretty nice exchange and it’s an easy way to short, and yeah. I hope you guys enjoyed this video and I look forward to speaking with you in our feature videos. Have a great day! Bye-bye.

The post Kraken exchange review – the best solution for your Bitcoins appeared first on The Diary of a Trader.

Kraken exchange review – the best solution for your Bitcoins posted first on http://thediaryofatrader.com/

0 notes

aubreytownsend · 5 years

Text

Kraken exchange review – the best solution for your Bitcoins

Kraken exchange review – what is it and how does it work? Learn why is it unique

Kraken exchange review – a guide for cryptocurrency market.

The post Kraken exchange review – the best solution for your Bitcoins appeared first on The Diary of a Trader.

Kraken exchange review – the best solution for your Bitcoins published first on http://thediaryofatrader.com/

0 notes

thediaryofatrader · 5 years

Text

Kraken exchange review – the best solution for your Bitcoins

Kraken exchange review – what is it and how does it work? Learn why is it unique

Kraken exchange review – a guide for cryptocurrency market.

The post Kraken exchange review – the best solution for your Bitcoins appeared first on The Diary of a Trader.

0 notes

cryptnus-blog · 6 years

Text

How to Buy Litecoin With a Credit Card: Step-By-Step • Benzinga

New Post has been published on https://cryptnus.com/2018/10/how-to-buy-litecoin-with-a-credit-card-step-by-step-%e2%80%a2-benzinga/

How to Buy Litecoin With a Credit Card: Step-By-Step • Benzinga

Litecoin, an altcoin that has been on the cryptocurrency market since 2011, is almost identical to Bitcoin on a technical level. However, Litecoin investors enjoy Litecoin’s faster transfers.

The Litecoin Network aims to process blocks every 2.5 minutes compared to Bitcoin’s 10 minutes; Litecoin confirmations and sales are generally faster than alternative coins. Litecoin investors believe that this increased block processing time, along with the cryptocurrency’s more expansive memory system, will lead the coin to offer a more time-sensitive money transfer system in the future.

How to buy Litecoin with a credit card

Because Litecoin is more unique than other cryptocurrencies, you may be curious how you can purchase this cryptocurrency with a credit card. Here’s how you can in six simple steps.

Step 1: Create an account with Coinbase

By far the easiest way to buy Litecoin with a credit card is through Coinbase.

Coinbase is a relatively simple cryptocurrency buying platform. Though Coinbase’s site is well-designed and easy to use, it only allows users to purchase Bitcoin, Litecoin, Ethereum, and its spinoff assets.

To create an account with Coinbase, visit its website and click on the “Sign Up” button on the top of the homepage. Then, enter your personal information, solve the reCAPTCHA puzzle, and move on to the next page to enter your credit card information.

Step 2: Create a Litecoin wallet

You can hold your Litecoin in your Coinbase account, but this is generally considered to be less safe than keeping your Litecoin in an encrypted wallet.

If you don’t already have a crypto wallet, check out Benzinga’s list of the best cryptocurrency wallets to get started.

Step 3: Confirm your account

When you first create a Coinbase account, you are limited to purchasing $500 worth of crypto when using a credit card.

You can increase this limit by verifying your identity. After logging into your Coinbase account, click on the “settings” tab, then click on the “account levels” subtab. Scroll down until you see “level 3 verification.”

If you aren’t already verified at this level, click to be redirected to the personal identity verification form. Here, you’ll have to upload photos of either the front and back of your driver’s license or your passport. After uploading your verification, feel free to close the window and come back later—Coinbase will send you an email after the verification process has been completed.

Step 4: Initiate a buy

To initiate a buy, return to your Coinbase dashboard and click on the tab titled “buy and sell.” In the section titled “cryptocurrency,” click on the drop-down menu and select Litecoin, and select your credit card from the drop-down list of payment methods.

Enter the amount of Litecoin in USD you’d like to buy and click on the blue button that says “buy Litecoin.” This will initiate the buy. Review that the information you’ve entered is correct, and confirm the buy once more on the following page.

Step 5: Check your account for your Litecoin balance

Your Litecoin balance should immediately appear in your Coinbase account, though it typically takes at least two business days to see the transaction appear on your credit card statement. To check that your Litecoin has arrived safely, click on the tab titled “dashboard” on the top left-hand side of the page.

On your dashboard, you will see a complete summary of the holdings in your Coinbase account. Scroll to the bottom of the page to the section titled “your portfolio” to see the makeup of your profile. Here, your total number of Litecoin will be listed, and you can check to see that each of your individual transactions has been completed on the right-hand column labeled “recent activity.”

Step 6: After your funds clear, transfer your holdings to your Litecoin wallet

Though you’ll see your Litecoin in your Coinbase account as soon as you complete the purchase, you cannot withdraw your funds for at least 12 days following your first buy. To see how much time is left until you can withdraw your Litecoin, click on the “accounts” tab, then click on the button labeled “send” under the Litecoin tab. After opening the “send” tab, you’ll see a summary of the amount of cleared Litecoin in your account; click on the blue link titled “Don’t see all your funds?” to receive a summary of the pending deposits still awaiting clearance, like the example below:

Screenshot of what your Litecoin balance could look like. Source: Coinbase.com

After your Litecoin has cleared, you can deposit it into an external wallet or cryptocurrency exchange like Binance. Open your Litecoin wallet and look for your wallet’s address—it should be a string of seemingly random numbers and letters. Copy your wallet address and open your Coinbase account.

Click on the tab titled “tools,” and click on the subtab titled “addresses.” Click on the drop-down menu, select “LTC wallet,” and paste your wallet address. Then, click on the button titled “create new address” to add the wallet to your list of withdrawal locations. This will allow you to easily deposit Litecoin to your account should you want to convert it into another cryptocurrency in the future.

Return to the “accounts” tab and click on the “send” button under the tab titled “LTC wallet.” Center your Litecoin wallet address, double-check that the information you’ve entered is correct, and deposit your Litecoin to your wallet.

This transfer may take anywhere from a few minutes to an hour to complete depending on the number of other users currently initiating transfers with Coinbase. Double-check your wallet after an hour and ensure that all of your Litecoin have arrived.

Final thoughts

Coinbase offers a quick and simple way to purchase a few of the most popular cryptocurrencies using a credit card. However, if you’re looking to buy more obscure coins like Ripple, Tether, or the hundreds of other altcoins on the market, you’ll need to use Bitcoin or Litecoin as a transfer currency and covert them on a cryptocurrency exchange like Binance. Don’t limit your cryptocurrency investing to the “big three” coins—check out Benzinga’s cryptocurrency market news feed to learn more about market movements of other coins.

0 notes

lindajohnsonn · 5 years

Text

A short Binance review, to learn how to trade altcoins in a market

Binance review – Find out what is Binance and see if it’s a good exchange to get the best results!

Do you want to know how to trade on Binance? Watch our latest video for a short Binance review and learn how to use this exchange in a market!

Binance review – a simple, but effective guide for trading

Hello, and welcome to Diary of a Trader and thank you for watching this video. This is in a series of videos on the introduction to Bitcoin and how to trade other cryptocurrencies. And in this video, we’re going to go over how to use and buy and trade altcoins in a market. And one of the first things people ask is, “Okay, I buy some Bitcoin, but I want to buy some other altcoins. How do you do that?” Because there’s basically two kinds of exchanges.

You’ve already seen the video where we’ve gone over Coinbase, where you can deposit your Dollars or your Euros and you can get Bitcoin, Ethereum, Litecoin or Bitcoin Cash. Well, then, the question is what do you do after that? Well, then you have to find another exchange that deals predominantly with altcoins and for this video, we’ll be using binance.com and that is just www.binance.com. And here you’ll see that they have a large number of coins that you can trade. If you’re familiar with the Forex markets where you have things like the EUR/USD, so that’s the Euro/Dollar pair, you’re going to see a lot of this. So there’s different markets for a lot of these coins. So, BNB is Binance Coin, that is their own cryptocurrency that you can trade other altcoins against, there’s the Bitcoin Market itself, where you trade other altcoins against the performance of Bitcoin, there’s the Ethereum Market and then there’s USDT, this is Tether.

And so, Tether is what’s called a stable coin. A Tether is a cryptocurrency, but it is tied to the US Dollar. So, one Tether equals $1. So if you want to trade just dollars against a cryptocurrency, then the Tether is what you use. But you’ll notice, though, that Tether is reserved only for a few cryptocurrencies, even though there are significant volume traded in them, whereas in Bitcoin there’s hundreds of coins that you can trade.

Now, if you remember watching in the Coinbase video, we have to create an account. You have to do the same thing here, okay? Even though this is not based in the US, this is actually based in Malta. Binance was originally in China and then, when China cracked down on cryptocurrency trading, they decided they were going to leave and then they went to Japan and then, when Japan had some issues, I mean, they’re better now, but then Binance left Japan, they went to the little island of Malta.

Now, the same thing applies, so there’s that thing called the KYC, “Know your customer”. You have to do that here too. So, if we want to trade here, we basically go through the same process that we did to register in Coinbase. We just go to Register, and we type in an email, password and if somebody referred you, you can do that and then you just click, “I agree” and then you register. Then you’ll always have to do this little thing here. You always have to do this little slide thing. You have to do it pretty fast, you have to get it in, otherwise, they will not let you in.

Now, you’re going to get an email. So I need to go to my email. I want to pull that up on another screen here. And so, when you get your email, it’ll ask you to verify the email, we just click that and then it’ll open up another tab for us, that it’s been activated. We just click on Login and we do this stuff again. All right, there we go. And then, we’ll be able to get into our account.

Now, one of the things you’ll notice is, telling us that we have a lot of things we need to be aware of. So don’t send funds to anybody you don’t know, never tell your password or your TFA, the two-factor authentication and so forth. And we want to make sure that we check all of these. Now, we’re into our account. And this is where you should do this. So, you’ll have to download an app and it’s just the same as we’ve done on Coinbase where you’ll get a Google authentication code and we’re just going to hit skip for now, because if you’ve done that on Coinbase, then you already have it. And then, we’re basically into our basic account information. So, we’ve only got our first level of authorization and just like on Coinbase, we’re going to have to do a Submit Verification Documents because if we don’t we are severely limited to how much we can take out or put into Binance. And, in order to do that, of course, we have to do our SMS authorization, but then after you’ve done that, you’re good to go. And I’m just going to log into my own Binance account very quickly.

All right. Now, I’ve logged into my account, we can see that I’m on the basic screen here, that on the Exchange, if you hover over that, you’ll see Basic and Advanced. And so the Basic will just look like this. There’s not a lot to it. Basic buy and sell interface here. And then, on the Advanced, you will get a pretty more detailed look at your order history, the orders that you have opened, the current bids and offers or the buys and sells, bid asks, whatever you want to call it. You can select the coin you want to trade and you can see the chart for it here. There’s a few indicators that you can apply here as well. But, ultimately, the first question that you’re probably asking is, “Well, how do I get to trade money here? How do I trade coins? How do I trade currencies?” Well, to do that, we have to go through the process of sending cryptocurrencies from our Coinbase account to our Binance account and we’re going to go do that right now.

And so, I’m going to go to Coinbase and I’m going to look for the coin that I want to send and for this, we’re going to use Litecoin. I bought some Litecoin for the purposes of this video and we can see my balance here, I have about 11.5 Litecoin. Now, I need to go to Accounts and I need to find my Litecoin wallet and here’s where I can send and receive Litecoin. Of course, we’re going to hit send and it’s going to tell me to input an address. This is just like an email address, but I need to figure out what the address is to send it. And now, what we want to do is, we want to go to balances, I want to find Litecoins, I’ll just type in LTC and then I want to click “Deposit”, because I want to send it to Binance. And when I click that Deposit, it’s going to bring up the address that I need to send it to, and that is that funky code right there. All I need to do is just single-click that “Copy address” and it’s going to copy it to my clipboard. And then, that just goes right onto the address line. If we go back to Coinbase, right-click there, paste and I select the amount that I want to send and hit “Continue”, do my Two-Factor Authentication and I’m done. And now, all I have to do is, I just wait for it to show up. Now, if we look at the bottom right-hand corner of this video, we can see that it is 4:50 p.m. And let’s see how long it takes to get all of my Litecoin from Coinbase.

And through the marvels of video editing, we have fast-forwarded in time, 10 minutes, and we can see that there are three out of four confirmations yet. We are looking at where this could be at, also we can look at the Blockchain transactions as well and see what transactions are happening. How many other Litecoin transactions have been happening? We can see mine, below there, at 11.43. And what I can also do is, I can also go over to Coinbase and Coinbase will also notify me how many confirmations have been completed. And had to refresh that there, and now it says I have four. So that means that I actually have the cryptocurrency of Litecoin in my wallet on Binance.

And we can also see the other balances that I have, but now we need to get into, “How do you trade this? How can I sell my Litecoin and trade it to buy something else?” And to do that, we’re going to go over to The Exchange part here. And so, if you remember where to go on the exchange, we’re going to find the Litecoin- Tether pair and I want to sell some of it. So, I have 11.43 and let’s say I want to sell half and I want to sell it right away. So I’m going to sell it at the Market. The market means that the transaction is going to happen immediately when you hit sell. If something’s limited, that means you’re going to wait for it to be at a certain price, but Market means you’re just going to take the order at whatever the price is currently trading. It tells me that I have sold it for that much and I have that much Tether. Now, I want to take the Tether I have and I want to buy some ADA or Cardano, and I just put in how much I want and hit the “Buy” button. Not too fast, otherwise, it doesn’t update that fast. But now, instead, I’ve sold my Litecoin, I’ve turned it into Tether and I’ve taken my Tether now and I’ve bought Cardano.

So, this concludes our video over Binance and how to send cryptocurrencies from one account to the other. I hope you found this video helpful and that it is a benefit to you and I look forward to talking with you in our future videos. Have a great day!

The post A short Binance review, to learn how to trade altcoins in a market appeared first on The Diary of a Trader.

A short Binance review, to learn how to trade altcoins in a market posted first on http://thediaryofatrader.com/

0 notes

aubreytownsend · 5 years

Text

A short Binance review, to learn how to trade altcoins in a market

Binance review – Find out what is Binance and see if it’s a good exchange to get the best results!

Do you want to know how to trade on Binance? Watch our latest video for a short Binance review and learn how to use this exchange in a market!

Binance review – a simple, but effective guide for trading

The post A short Binance review, to learn how to trade altcoins in a market appeared first on The Diary of a Trader.

A short Binance review, to learn how to trade altcoins in a market published first on http://thediaryofatrader.com/

0 notes

thediaryofatrader · 5 years

Text

A short Binance review, to learn how to trade altcoins in a market

Binance review – Find out what is Binance and see if it’s a good exchange to get the best results!

Do you want to know how to trade on Binance? Watch our latest video for a short Binance review and learn how to use this exchange in a market!

Binance review – a simple, but effective guide for trading

The post A short Binance review, to learn how to trade altcoins in a market appeared first on The Diary of a Trader.

0 notes

cryptnus-blog · 6 years

Text

How to Buy Ripple with Coinbase: Step-By-Step Guide • Benzinga

New Post has been published on https://cryptnus.com/2018/09/how-to-buy-ripple-with-coinbase-step-by-step-guide-%e2%80%a2-benzinga/

How to Buy Ripple with Coinbase: Step-By-Step Guide • Benzinga

Bitcoin is far from the only cryptocurrency available on the market—alternatives like Ripple have popped up and begun to take market share from powerhouses like Bitcoin and Litecoin. Unfortunately, Ripple is not as easy to invest in compared to more popular types of cryptocurrency, but creative internet entrepreneurs have devised clever workarounds to make Ripple an option for Coinbase users.

What is Ripple?

Ripple differs from Bitcoin because it values a more mainstream functionality. Unlike Bitcoin, which values anonymity and decentralization, Ripple has ties to banks and financial institutions. It was Invented in 2012 as a way for banks and forex investors to quickly transfer money across international lines, the cryptocurrency has quickly risen in value.

At the time of this writing, Ripple was valued by CoinMarketCap as the third most valuable crypto on the market. With a price of just over 50 cents a coin, Ripple is a great choice if you’re a novice investor looking to get the most bang for your buck.

Step 1: Create an account with Binance

Binance is a cryptocurrency transfer service that allows users to exchange one coin for another—think of it as an online currency exchange system like the kind you might see at the airport of a foreign country.

Coinbase does not currently support the direct purchase of Ripple, so you’ll need to import another currency into Binance before conversion.

Opening an account with Binance is simple; just click the “Register” button as indicated below and follow the steps indicated by Binance’s system to enter your personal information.

Binance’s platform. Source: Binance.com

Step 2: Invest in a transfer currency using Coinbase

Once you have your Binance account, you’ll have to set up a Coinbase account. Unfortunately, Coinbase only allows users to invest and store three types of cryptocurrencies: Bitcoin, Ethereum, and Litecoin. You’ll need to use Coinbase to purchase one of these three currencies, transfer them to Binance to convert into Ripple, and store your Ripple in a desktop wallet.

After you’ve created an account with Coinbase, transfer your held currency into Bitcoin, Ethereum, or Litecoin.

Because you won’t be holding your Coinbase “Transfer” currency for long, it doesn’t make a huge difference which of the three currencies you purchase. However, it may be best to use Ethereum, as this currency typically takes less time to transfer into Binance, thanks to a lower level of popularity.

Need help making your first purchase with Coinbase? Check out the tutorial below for a step-by-step guide.

youtube

Step 3: Transfer your held currency into Binance

Next, return to your Binance account and import the currency you’ve purchased through Coinbase. On the top of the screen under the “funds” tab, click on the button labeled “deposits and withdrawals.”

Scroll through Binance’s massive list of cryptocurrency options until you find the transfer currency you purchased in Step 2. Click on the currency symbol and make sure “Deposit” is selected.

Depositing cryptocurrency into Binance. Source: Binance.com

Copy the address indicated, return to your Coinbase account, and initiate a transfer by clicking on the icon that looks like a paper airplane. Paste your Binance address into the transfer destination and send the currency you’ve purchased in Step Two to your Binance account.

This transfer is not instantaneous, and can take anywhere from a few minutes to a few hours to complete depending on server traffic—so don’t panic if an hour later, your funds still have not made it to your Binance account.

Step 4: Convert your transfer currency into Ripple

Once your transfer crypto has made it to your Binance account, it’s very simple to convert it into Ripple.

Return to the homepage of Binance and search for Ripple (abbreviated “XRP”) using the search tool on the top right side of the page. Binance will then show you a real-time conversion rate of the currency you’ve transferred in from Coinbase to Ripple.

Converting your cryptocurrency into XRP. Source: UseTheBitcoin.com

On the bottom of the page, click on the tab that says “Market—” this means that you’ll be buying Ripple at the current market price. Under the section titled “Buy XRP,” you can choose which percentage (from 25 percent to 100 percent) of your held currency you’d like to convert into Ripple.

Click on “Buy XRP,” and your purchase will be completed instantly. You can click on the tab titled “deposits withdrawals” to view your Ripple in your Binance wallet.

Step 5: Choose where to store your Ripple

Though you may choose to hold your Ripple inside of your Binance wallet, most investors choose to download a desktop wallet to transfer their cryptocurrencies for safe keeping.

Some users go a step further and purchase an offline hardware-based wallet, like the Ledger Nano S, to store their Ripple. Your level of technical understanding and risk tolerance will determine the best type of wallet for you. You can also take a look at our picks for the Best Cryptocurrecy Wallets

Final thoughts

Purchasing a new cryptocurrency can be exciting, but it’s easy to get lost in the many terms and confusing processes, especially if you are used to buying and selling cryptocurrencies entirely through Coinbase.

Though Coinbase does not currently support the direct purchase of Ripple, the service continues to expand its processes beyond the “big three” names in cryptocurrencies. In the future, it may be possible to use your banking information to buy Ripple directly—but for now, Binance offers users a low-fee, intuitive way to get their hands on the investments they need.

If you’re a beginning trader, you can also use Binance as an educational tool and learn more about Bitcoin alternatives by watching the platform’s live value charts.

Check out Benzinga’s list of the best cryptocurrencies to invest in today or our beginner’s crash course in cryptocurrency mining.

0 notes