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Author Topic: Where to Start?  (Read 1490 times)

Cmarten

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Where to Start?
« on: April 29, 2014, 12:26:58 PM »
The most basic question of them all!

I've spent some time reading over the forum and the blog here, but am still pretty confused about how to actually get started.  Which wallet is the best? Do you have to invest real cash in large quantities? I'm reading things like a Bitcoin is worth $1,000 or something!

From what I gather, this cryptocurrency world is basically like day trading of virtual currency that you can only spend at select places online. Am I way off base?

CryptoMoms

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Re: Where to Start?
« Reply #1 on: April 29, 2014, 02:01:06 PM »
Great questions!

I wouldn't consider any specific coin the best, you will find some coins specialize in one thing or another. Bitcoin is the most widely accepted as a form of payment, both in local stores and online. You pay for repairs to your roof, pay for a meal at a restaurant, buy a gig on fiverr, or get great deals on overstock.

Purchasing is certainly one option, but probably not the best place to start. You can earn a substantial amount of coins by joining giveaways, bounties, and faucets:
http://cryptomoms.com/get-coins.html
It is fairly easy to get some coins. One of the key factors for success of a digital currency is distribution. The more people that have it, the more interest the coin has and potentially more value.



Shepherd

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Re: Where to Start?
« Reply #2 on: April 29, 2014, 04:22:02 PM »
The most basic question of them all!

I've spent some time reading over the forum and the blog here, but am still pretty confused about how to actually get started.  Which wallet is the best? Do you have to invest real cash in large quantities? I'm reading things like a Bitcoin is worth $1,000 or something!

From what I gather, this cryptocurrency world is basically like day trading of virtual currency that you can only spend at select places online. Am I way off base?

Great questions!

I wouldn't consider any specific coin the best, you will find some coins specialize in one thing or another. Bitcoin is the most widely accepted as a form of payment, both in local stores and online. You pay for repairs to your roof, pay for a meal at a restaurant, buy a gig on fiverr, or get great deals on overstock.

Purchasing is certainly one option, but probably not the best place to start. You can earn a substantial amount of coins by joining giveaways, bounties, and faucets:
http://cryptomoms.com/get-coins.html
It is fairly easy to get some coins. One of the key factors for success of a digital currency is distribution. The more people that have it, the more interest the coin has and potentially more value.

I just want to add that you do not have to invest any money in crypto currency to get started. If you do, I strongly recommend that you start out with a small amount.  Learn as much as you can. When you reached the point that you are comfortable in selecting a few of your favorites, start out with small investment in amounts that you can afford to loose, in the worst case. Crypto currency is still in its infancy. Like any other technologies before it, the risk to reward ratio for early investors are extremely high. Proceed with caution.

Chase

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Re: Where to Start?
« Reply #3 on: April 29, 2014, 04:28:25 PM »
I agree with not purchasing right away and instead taking advantage of giveaways, etc.  This will give you a little more time to become familiar with the various currencies, exchanges, and everything else crypto.  You can buy and sell Bitcoin in the fractions (up to .00000001), so when you feel you are ready to start buying or trading, you can start with a couple of dollars if you want.  There are a lot of currencies that seem to be attracting a lot of speculation and day trading, so if you are interested in that and okay with the risk, I would advise you to limit this to a maximum of 20% of your cryptocurrency portfolio.   I would encourage everyone to spread the rest of there currency choices among the ones that have dedicated developers, a business plan for the future, and the support of their community.

Chase

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Re: Where to Start?
« Reply #4 on: April 29, 2014, 05:11:09 PM »
  Which wallet is the best?


This was posted a while ago and is a good place to start if your not quite ready for the wallet.

----------------------------------------------------------------------------------------------------------------------
Shepherd
Re: Crypto Moms DNotes Giveaway
Reply #2 on: April 10, 2014, 04:45:04 PM
Hey girls and guys.  I just figured out that instead creating my window wallet as shown in the video of cryptomoms in home page, it's even easier, more convenient, and secured to register with Allcoin Exchange. Just go to: https://www.allcoin.com/pub/user_regist. Once you are registered, sign back in and  go to "Account". From there scroll to "Notes"  (Symbol for DNotes) and click Deposit to generate a deposit address where you want  DNotes sent. Copy that address and paste it here to receive your 250 free DNotes. That was even easlier. By the way Allcoin is my favorite exchange. It is so easy to use. I just love it.  DgpEEatRx8Jehbn7hbFc9eHSDHjj9SKpdN
This is my DNotes address and I paste it everywhere. When someone likes what I do or say I receive a bunch of DNotes. Nice, eh? Hope you will have as much fun as I do


Elisha

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Re: Where to Start?
« Reply #5 on: July 06, 2014, 01:57:04 AM »
Great questions!

I wouldn't consider any specific coin the best, you will find some coins specialize in one thing or another. Bitcoin is the most widely accepted as a form of payment, both in local stores and online. You pay for repairs to your roof, pay for a meal at a restaurant, buy a gig on fiverr, or get great deals on overstock.

Purchasing is certainly one option, but probably not the best place to start. You can earn a substantial amount of coins by joining giveaways, bounties, and faucets:
http://cryptomoms.com/get-coins.html
It is fairly easy to get some coins. One of the key factors for success of a digital currency is distribution. The more people that have it, the more interest the coin has and potentially more value.

I had the same question as the thread-starter and this is a great response...thank you! I don't have a lot of money saved to start so I will definitely be looking into the giveaways. I already love regular giveaways, so this is certainly intriguing and exciting to me!


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