I've been getting a lot of PMs after I posted about trading Cryptocurrencies and talking a little about NEO. Many of you guys wanted a better explanation of how to start investing/trading crypto, so here is a simple step-by-step instructions to trade altcoins (anything that's not Bitcoin):
How to buy hundreds of altcoins, including NEO, Bitcoin Cash, Omisego, TenX, Dash, etc:
1) Create both a GDAX and Coinbase account, two of the largest and most importantly SAFEST exchanges in the U.S. (GDAX is owned by Coinbase)
2) Deposit money into your GDAX account by either the "Bank Account" or "Credit Card" option. The "Bank Account" option will transfer money from your bank account to GDAX for no fees, but it takes about 4-5 days for both Coinbase and your bank to verify. The "Credit Card" option has around a 4% fee but is instant.
3) Trade USD for Bitcoin using LIMIT ORDERS on GDAX. (GDAX is owned by Coinbase, and you want to use GDAX to trade USD for Bitcoin because it does not have any transaction fees whereas Coinbase takes around 4%)
4) Withdraw your Bitcoin from GDAX to your Coinbase wallet
5) Create a Bittrex account
6) Transfer your Bitcoin from your Coinbase wallet to your Bittrex wallet. This transfer will take about 30 minutes to an hour.
7) Start trading hundreds of crypto and altcoins on Bittrex!
How to buy Bitcoin, Ethereum, and Litecoin (very simple):
1) Follow steps 1-4. Trade USD for Bitcoin/Ethereum/Litecoin and trade on GDAX if you believe you know how to make volatility your friend to make quick money, or just withdraw them to your Coinbase wallet if you want to actually invest for the long run.
Please comment if you have any further questions or just want to talk crypto!
When I try to open a GDAX account it just takes me to Coinbase. Do I need an account for both?
It's been a while since I created it but it might be the case that you just need to create a Coinbase account and not both... cant really remember. They're the same company though and your account will be linked. My login for coinbase and gdax are the same so that might be correct.
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