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written by reader Cryto Currency Transaction Capability

By byronwbnb, October 3, 2017

Looking to understand how people do Bitcoin and other Crypto Currency transactions. Meaning how do you buy and sell this instruments. Very much a novice in this area and could use some help.

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.

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Travis Johnson, Stock Gumshoe
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It can be a little complicated if you wish to hold your own bitcoins (or whatever), but if you’re willing to hold them in an online wallet through one of the major providers it becomes significantly less daunting, in my opinion. I personally used Coinbase for my cryptocurrency dabbling (though I sold all of my cryptos last month and don’t currently have any meaningful positions), they provide an interface to deposit cash from a bank account, then place orders within their system.

You can get a bit more complicated than that with more robust wallet services, or with downloading your coins to a USB drive or otherwise taking them offline, and there are lots of cryptocurrency exchanges that can give you access to more of the smaller cryptos, but the very basic level of getting started with a provider like Coinbase is fairly simple.

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petrogold
petrogold
4 years ago

Hi Travis, Greetings!
Thanks for sharing your insights on Cryptocurrency. I did not buy any BT or Cryptocurrency as I do not fully understand the flow chart of Buy & Sell of the Cryptocurrencies & how to encash the profit take. Did you get cash into your account for the sale? Is Coinbase secured? Why can’t we keep the BT/Crypto into our private wallet/mail that is most secure?

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youronlyhope
youronlyhope
4 years ago
Reply to  petrogold

Coinbase is secure. Well as secure as any of your online banks. It forces duel authentication etc… Its owned by large institutions and they keep majority of the bitcoin offline .

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