Follow along with the video below to see how to install our site as a web app on your home screen.
Note: this_feature_currently_requires_accessing_site_using_safari
I've never stepped foot into the Cryptocoin world before. Is it pretty easy to get started? Any guides out there or helpful bits of information? I am all ear.s...
I found this post from IM Grind really helpful for understanding how Bitcoins work, but the mechanism applies to other cryptocurrencies as well.
Thanks a ton! Lot's of great information here, will take me some free time to read it all! I was looking to get started with Lite or Dogecoin in the beginning.
So, this thread inspired me to waste a couple of days of my life and dedicate them to researching cryptocurrency. I tried mining a few of them, but I don't recommend it if you have a laptop. Or outdated hardware on your desktop. I did manage to get 8 dogecoins though, but that's only because their blocks pay out the highest rewards.
Anyway, I wanted to share a couple of useful resources I came across:
List of all cryptocoins: Comprehensive list with different categories based on popularity. Good for checking if a coin has a future. Also lists exchanges and profitability sites.
CoinChoose: If you're into mining, check if your coin is profitable. It changes throughout the day, but dogecoin and tagcoin are usually in first place.
Mining hardware comparison: Unfortunately, I did not check this site before trying out mining. Turns out my hardware can't get a hashrate higher than 20 KH/S. To put this rate in perspective, I mined 0.001 Primecoins in 30 minutes.
Doge for Dollars: After making peace with the fact that I will not be a famous, successful miner on the pools' leaderboards, I bought some dogecoins with dollars. The site has good reviews on Reddit and some other site (don't remember the name). Received the transaction within 30 minutes. I now feel happy knowing that I own a currency that has a Shiba Inu as their coin logo.
Awesome resources! Have you been putting some efforts into exchanges, or just mining at the moment?
I focused on mining, but I did study the exchange rates a bit.
The coins usually aren't very volatile, so their value is pretty much consistent throughout the day. That makes day trading ineffective in my opinion.
I would say that the best exchange strategy is position trading - taking up a promising coin and holding it for long-term profits. That's why I purchased doges. They are nowhere near bitcoin or litecoin at the moment, but they have a promising future with an active community promoting the coin.
I would say that the best exchange strategy is position trading - taking up a promising coin and holding it for long-term profits. That's why I purchased doges. They are nowhere near bitcoin or litecoin at the moment, but they have a promising future with an active community promoting the coin.
Great point of view on that. Might definitely be worth holding on to a few of the cheaper coins, could get lucky !
This is exactly what I do. I don't bother mining or day trading I just buy up coins that I think are promising and try to get them whilst they are cheap and then hold them for the long term.
Where and how did you get your dogecoin?
Have you seen eMunie? Thoughts?