For our CryptoCurrency Thursday videos, we like to show you ways to buy different types of cryptocurrencies. Today, we are going to be showing you how to buy Ripple. The symbol for Ripple is XRP. So why would someone want to learn how to buy Ripple? Well, the answer to that question is the same reason why anyone would want to buy any crypto: to make money and get a good return on investment. With all of the talk of the moon and Lambos for all investors, it is super important to know what you are buying so you do not fall into delusions of grandeur.
We have shown you how to buy several different cryptocurrencies in our videos, tutorials, & posts. However, we have yet to show you a full tutorial video on how to use Coinbase. Without an understanding of how Coinbase works, it will be difficult to understand any of our other videos. For that reason, we wanted to make this blog post to show you how to use Coinbase.
Coinbase is a simple website to use. However, for many people just the idea of making the jump from researching Bitcoin to buying Bitcoin can be a massive leap of faith. If you read our last post, then you know why we are big believers in Bitcoin & cryptocurrency. Try Coinbase out for yourself! It is a great site and cryptocurrency is a fun hobby.
Coinbase has four cryptocurrencies currently listed on the site. They are Bitcoin, Ethereum, Litecoin, & Bitcoin Cash. These four cryptocurrencies make up four out of the top five cryptocurrencies in terms of market cap. Market cap is the total amount of money invested into one specific coin (or also the total market cap which is the total invested into cryptocurrency as a whole). To give you an idea of where the market cap for cryptocurrency currently stands, the market is about half as big as the company Apple. Apple is worth about $900B. Cryptocurrency is currently around $460B. However, that number changes quite a bit on a daily basis.
What Can You Buy Next on Coinbase
To see exactly how to use Coinbase, please watch our step by step tutorial video. It will give you the ins and outs of the cryptocurrency purchasing platform. While we understand what we can currently buy on Coinbase, it is rather fun to speculate about what other coins can possibly be coming to Coinbase soon. Coinbase has shown a propensity to place coins on their site that are on the top tier of crypto market caps. I mentioned four out of the top five coins are currently on Coinbase. So why is Ripple (XRP) not listed since it is number three in market cap?
That’s a good question and has led to quite a bit of speculation. At the beginning of January in 2018, the crypto world was ablaze. This was partly due to the fact that almost everyone in the crypto world believe Ripple was going to debut on Coinbase by the end of January. However, Coinbase announced it would not list Ripple. This was a huge blow to Ripple and led to a huge downturn for the currency.
Many people believe that Ripple, a centralized coin, does not qualify as a coin that Coinbase would list (due to its centralization in nature – all other coins on Coinbase are decentralized). This leads many to believe that Ripple’s decentralized cousin, Stellar Lumens (XLM), could be next on Coinbase. Some other frontrunners for the honor could be NEO, ADA, DASH, & XMR. We hope this information has been helpful!
Our Crypto Thursday videos have been immensely popular with our audience. However, we have yet to do a video on How to buy a Bitcoin with Coinbase. Well, you are in luck because today we are going to show you how to do just that. Coinbase is a super easy website to use… which is probably why it is the premier destination to buy Bitcoins on the internet. The first thing you need to do to buy Bitcoins is to create an account on Coinbase. You can do that by going HERE.
Once you get into your Coinbase account, you will see that there are 4 different coins listed there. The default coin will be Bitcoin. You can see the Bitcoin current price, percentage increase or decrease, and the chart. You can see the chart for several different time increments including 1 hour, 1 day, 1 week, 1 month, 1 year, and all time. This is very useful to be able to see the trend that Bitcoin is currently on.
If Bitcoin is on a spike then it may not be the best time to buy it. You want to wait until what is called a “dip”. This is when a coin has been on an increase and then takes a small decrease. Unless there is some type of bad news surrounding a coin, dips typically go back up pretty quickly. I’m not a financial advisor, but that is my personal opinion on the best way to buy crypto in general according to a chart.
Buying Bitcoin inside of Coinbase is very easy. All you have to do is go to the Buy/Sell tab. From there select Bitcoin and type in the amount you would like to buy. You can use your bank account or debit card.
Why Buy Bitcoin on Coinbase
I’m going to give you my own personal story to show you why I like cryptocurrency so much and why I think it is a good idea to learn how to buy Bitcoin on Coinbase. Several years ago, I began using a software online for one of my businesses. Some point during my use of the software, the creator chose to accept recurring payments in only Bitcoin. The cost to use the software was about $150 every 3 months. It was very confusing to learn how to use Bitcoin around 2012. However, I figured it out and was able to make my purchase. Instead of putting $150 in, I put $165 in my account. After making my payment, I let the extra 120 Bitcoins I had left over sit in my account and I forgot about them.
The next time I had to make my payment, I used a different platform. Several months later, I went back to my account with the $15 worth of Bitcoin left in it. The 120 Bitcoins I had there ballooned from being worth $15 to being worth $2,000. I had made almost two grand by doing nothing. I was terrified that the price would drop again so immediately pulled them out and sold them. At the time, I was extremely happy about my sudden comeuppance. However, fast forward to December of 2017 and those same 120 Bitcoins would have been worth $2.5 million dollars. I still kick myself to this very day, but there is nothing I can do other than learn from my mistakes. As you may be aware of, many people have become millionaires and billionaires from Bitcoin over the last few years. There is no reason to think that trend will not continue.
We have had such a great response to our Crypto Thursday videos, that we have decided to post more cryptocurrency videos & tutorials. While Thursdays will still consist of videos showing you how to buy specific coins (and additional info about each coin), on Fridays we will be reaching out to other areas of cryptocurrency such as wallets, chart reading info, and more. We are very excited about this and hope that you will be as well.
For today’s video & blog, we are taking a look at a MyEtherWallet tutorial. MyEtherWallet is an online wallet where you can hold any token on the ERC-20 network. The ERC-20 network is better known as the Ethereum Network. While Ethereum is the base for the network, there are several other tokens that are also on the network. Some of these include, EOS, Quantum, Tron, & Internet Node Token. The fact that you can own all of these tokens and keep them on the same wallet is a huge plus to creating a wallet here.
The wallet is pretty straight forward and offers many standard features of a wallet. It offers support for a hardware wallet such as Trezor or Ledger. MyEtherWallet provides you with multiple ways to unlock your wallet after you create it. The two easiest ways are with either the Keystore File the site provides you with or the Private Key the site provides you with. MyEtherWallet suggests using some other methods, but those are the two easiest ways (and most likely what normal investors are using). You are given both of these tools in the sign-up process.
Personally, I love MyEtherWallet. It’s a great wallet, but there are two common problems people run into with this wallet. First, because of the nature of the online storage of this wallet, if you lose your Private Key or Keystore File and are unable to get into your account, then you will indefinitely lose whatever tokens are in your wallet. MyEtherWallet cannot help you to restore them. For this reason, there are warnings MyEtherWallet gives you as you sign up detailing how to protect your account. Phishing is extremely common for this wallet. Just use common sense and you should be fine. The best way to avoid phishing is to only go directly to the site by typing the URL in the address bar instead of ever clicking a link to go to it.
The second problem people have is they have a hard time figuring out how to send tokens away from MyEtherWallet. If you look up on the top right of the wallet, you will see this information:
If you are unfamiliar with the Ethereum Network, you may think this is the stock price for gasoline. However, Gwei (or Giga wei), is the fuel that runs the network. In order to send tokens back to an exchange from MyEtherWallet you must have Ethereum also stored on your wallet. It doesn’t have to be much, but you need some to cover the transfer fees for your other tokens. I suggest adding about $10 worth of Ethereum to your account before you ever add tokens. This way you will have your transaction fees covered for a while.
To find out more about this wallet, please watch our “MyEtherWallet Tutorial”. Thanks for reading!
If you have been paying attention during the latest bear run on the cryptocurrency market, then you have seen a few coins that seemed to be able to take the blows better than other. Three coins that seemed to stand tough during the dip were Waltonchain, NEO, & GAS. Don’t be confused by the title of this article, How to Buy NEOGAS. NEO & GAS are two different tokens, but they are on the same platform. They are attached at the hip. When NEO drops in price, GAS is usually follows the same trend. If NEO goes on a bull run, then GAS is also not far behind. Currently, GAS has been staying at about 30-50% of NEO’s price. So let’s look at the relationship between the two coins.
NEO and GAS both have 100 million tokes as their total possible supply. The thing that separates the two from each other is that NEO cannot be divided. GAS, however, can be divided into smaller shares distributed across the total supply of coins. While I personally do not believe that GAS will ever be able to pass NEO, the ability to divide the coins does make it likely that one day the price of GAS may get much higher than 30% of NEO’s price.
When it comes to choosing NEO or GAS as a coin to invest in, my advice would be to actually make a choice. They are both great coins with strong futures, but since their movements seem to mimic one another, it would be better to invest in only one of the coins. This would allow you to allocate part of your portfolio to other coins with potential. Now that you understand a little about NEO & GAS, let’s look at how to buy NEOGAS.
Using Kucoin to Buy NEOGAS
While technically the name of the token we are looking at is NEOGAS, you will most likely only find it under the name GAS on most exchanges. You can buy GAS on many bigger exchanges such as Binance. The exchange we will be looking at is Kucoin. The Kucoin exchange is unique because it offers more options than just trading ETH or BTC for its coins. You can actually trade NEO on this platform (which demonstrates the usefulness of NEO itself).
Before you begin to learn how to buy NEOGAS, you need to be able to get your money on an exchange. The obvious choice is Coinbase. Chances are that if you are looking into how to buy altcoins such as NEO or GAS, that you already have experience with Coinbase. If this is your first time moving your money from Coinbase to an exchange, then welcome to the real crypto world!
On Kucoin, hover over the $ symbol on the top of the page. Then move your cursor down to click on “Deposit”. The default coin to trade with on Kucoin is KCS. This stands for Kucoin shares and is the coin ran by the exchange. Simple click the dropdown to select Bitcoin from the list. Then send your BTC from Coinbase to the Kucoin BTC address you are provided with. From that point, all you need to do is make the actual exchange. To see exactly how this is done, watch the tutorial video, “How to Buy NEOGAS”. It’s a very simple process.
Thanks for reading and good luck with your crypto investments!
Over the last few weeks, the cryptocurrency market has really struggled to find its footing. Bitcoin has dropped substantially recently and is having a hard time recovering. Still, multiple times it has gone down around $10k and refuses to go much lower. For those of us who believe in cryptocurrency and Bitcoin, this is a dream time to make investments. The price of the coins are dropping because of the destabilization of Bitcoin; not because of their own merits. One of the coins that smart investors are looking at is FunFair (FUN). In today’s tutorial video, we show you how to buy FunFair coin on Binance.
Buying FunFair is actually pretty simple if you already have a Coinbase account and an account on Binance. If you don’t head on over to both of those sites and create an account on both. Once you have logged into your Binance account, scroll up to Funds>Balances at the top of the screen. Once you are here, click Deposit next to Bitcoin on the listing. Copy the Bitcoin address and head back on over to your Coinbase account. If you don’t have any funds, make sure to make a deposit. Once you have Bitcoin in your Coinbase account, click the Accounts tab. From there, all you have to do is click send and then paste your Binance BTC address. Confirm the address is correct and send the Bitcoin over. Sometimes it takes a few hours, but most of the time your BTC will hit your Binance account within 30 minutes to an hour.
But Why Buy FunFair (FUN)
If I purchased any coin that I ever heard someone say they liked, I would have one of everything (except BitConnect of course!). You can always find someone on Twitter or a subreddit that absolutely love virtually any coin out there. Because of that, you must be careful taking advice from people. They most likely have ulterior motives and are holding bags of whatever they are trying to pump to you (pump is a word that means someone is trying to hype a coin just so the price goes up). You HAVE to do your own research. Please, don’t take my advice. Don’t take a YouTubers advice. Don’t take the random cat lady on Twitter’s advice when it comes to crypto… even if she has a cryptokitty. You must investigate each coin to find out what kind of technology it has behind it. The technology is what will give many of these coins staying power.
FunFair is a coin I like a lot because the technology behind it seeks to solve the problems of the online gambling community. This is a huge market marred by scandals and untrustworthy individuals running online casinos. FunFair is seeking to make all gambling transactions & bets run through the blockchain. This completely guards against cheating. One other incredible feature of this new system of gambling is that players can pull out their coins in real time instead of having to wait weeks or sometimes months for an online casino to pay up. This coin has a lot of potential and is one to watch!
Thanks for reading & don’t forget to watch our tutorial video, “How to Buy FunFair Coin on Binance.”
Disclaimer: I am not a financial expert and any advice taken from this blog should be researched. Do not take my opinion as direct financial advice.
You may be wondering how to buy NEO, but first, let’s look at why you should consider purchasing this cryptocurrency. NEO is known as the Chinese Ethereum equivalent. Neo was founded by Da Hongfei. He is a very outspoken cryptocurrency advocate in China. The rise of NEO over 2017 was astronomical. Marketwatch.com noted that in 2017 alone, NEO rose almost 85,000%. That is a return that only the most optimistic crypto investor could dream about. The great thing about NEO is that while it seems like its bull run must come to an end, it just keeps going up. Many crypto prognosticators feel that NEO is a sure fire pick to reach 4 digits each by the end of 2018. It’s potential is limitless… as long as China does not strangle it with regulations or start ban cryptocurrency exchanges such as Binance.