How do you invest in CryptoCurrency?

[Shack Tastic]

So I know some people who want to get serious into mining coins, buying Asics(Which can usually only be bought with bitcoins) and such, and I was trying to find places that could accept the couple thousands they had, but most exchanges have limits at around $1000 or so, which is no good. I was wondering if there are any legitimate places to that could handle this type of volume of money.

[DoubleY]

You are looking to buy a couple thousand Asics?

[dizmo]

In Canada there are ATM's that will allow $3000 worth of transactions a day.

Now would be the time to gamble, seeing as the coins took a huge crash.

Don't think of it as an investment. It's definitely a gamble.

[wng_kingsley7]

So I know some people who want to get serious into mining coins, buying Asics(Which can usually only be bought with bitcoins) and such, and I was trying to find places that could accept the couple thousands they had, but most exchanges have limits at around $1000 or so, which is no good. I was wondering if there are any legitimate places to that could handle this type of volume of money.

right now isn't the most profitable time in the cryto-currency history. investing would be a bad investment (sounds pretty stupid) but it isn't worth the value that it was about 6 months ago.

[Shack Tastic]

You are looking to buy a couple thousand Asics?

Not really, the ones from cointerra cost around $6000, and I've seen some for $14000. 

 

In Canada there are ATM's that will allow $3000 worth of transactions a day.

Now would be the time to gamble, seeing as the coins took a huge crash.

Don't think of it as an investment. It's definitely a gamble.

 

So the Canadians have figured it out before us...hmm. jk.  I kind of need a US exchange though, or at least one that accepts USD.

[CCap]

So the Canadians have figured it out before us...hmm. jk.  I kind of need a US exchange though, or at least one that accepts USD.

*This is off topic, but seems relevant to the OP. Read at will of going off topic or not*

Have you ever considered stocks? I'm 14 and just made $600 dollars from owning 3 shares of ITC holdings. They just split 3 to 1, and I was lucky enough to be sitting on a few of them. 

 

Stocks are not only a good way to invest your money, but they can be a TON of fun too. Sure, it sucks losing money on stocks, but I usually don't sit on stocks long enough for me to even lose that much money. I'll buy about $50 dollars in penny stocks, and wait a week. If they increase by more than 50-100% then I'll cash out right there. 

 

After a bit of research, you really can be having a lot of fun, and while you're doing it, you can make lots of money. Stocks are the way that I'm going to buy myself in college, and if you are under the age of 18, it could be a good way for you to invest any sort of money you come across. I hope this was of some help, or provoked some thoughts.

[Shack Tastic]

right now isn't the most profitable time in the cryto-currency history. investing would be a bad investment (sounds pretty stupid) but it isn't worth the value that it was about 6 months ago.

 

 

I would have figured that now would be a great time to invest (or gamble), as the price is really low($601), and this site, though I know its kind of biased, has some truth in its numbers if bitcoin starts to become more widely accepted. http://bitcoin-expert.net/future-value/ . All I want to know is how to buy large volumes of crypotocurrencies in general, not just bitcoin, using USD. I think there's a future to cryptos, even if its not bitcoin. Some other coin, maybe without transaction malleability, may take its place and what not, i just want to know how to invest right now.

[RuecanOnRails]

I would have figured that now would be a great time to invest (or gamble), as the price is really low($601), and this site, though I know its kind of biased, has some truth in its numbers if bitcoin starts to become more widely accepted. http://bitcoin-expert.net/future-value/ . All I want to know is how to buy large volumes of crypotocurrencies in general, not just bitcoin, using USD. I think there's a future to cryptos, even if its not bitcoin. Some other coin, maybe without transaction malleability, may take its place and what not, i just want to know how to invest right now.

 

For being in the US, your best bet I think, would be at https://coinbase.com/ You're able to link your bank account and directly fund purchases of Bitcoin from their "exchange" platform.

 

Coinbase only supports Bitcoin right now; However you can easily buy Bitcoins then use some of those Bitcoins to buy various other coins. Many exchanges offer Bitcoin trading pairs which don't require or offer fiat, https://www.cryptsy.com/

 

When you say large volumes, how many are you looking to purchase? Make sure the liquidity is available at the exchange you're wanting to purchase from. Purchasing more than 1000 coins at a time could be difficult on exchanges with low liquidity/volume.

 

 

To Answer your question "in general"

- Sign up, and become verified on a local, legitimate exchange.

- Wire transfer large, or small sums of money to the exchange.

- Depending on the exchange/trading platform; Place your buy orders.

- As the market moves, your buy orders may get filled if someone is willing to sell at your listed buy price.

- Move Bitcoins to a secure personal wallet where you control the keys. 

- Figure out how much you want to store away in secure offline paper wallets/cold storage. Using the most paranoid security measure you like, create wallets and store your coins offline.

- Use the other portion to send to an exchange which supports many Bitcoins trading pairs.

- Repeat the previous buy/sell order for various coins and day trading.

[pGuerrerox]

coinbase easiest way if you have an US bank account

[TheProfosist]

I really dont think at this point you should invest in it, that time has passed and to be truthful I dont think people should invest in it as thats not at all what its intended to be. Either was I think the biggest thing h7rting crypto currencies at the moment its them self there are just more and more day by day.

[Shack Tastic]

For being in the US, your best bet I think, would be at https://coinbase.com/ You're able to link your bank account and directly fund purchases of Bitcoin from their "exchange" platform.

 

 

Thanks for this, though I probably should have asked this question 30 days ago, as that's how long it takes to get verified for level 2. Gotta start somewhere though.

 

I really dont think at this point you should invest in it, that time has passed and to be truthful I dont think people should invest in it as thats not at all what its intended to be. Either was I think the biggest thing h7rting crypto currencies at the moment its them self there are just more and more day by day.

 I agree that for bitcoin and other coins to be considered true currency, it shouldn't be able to be invested in as it is now. Eventually, much of this mining will end(dogecoin to the moon) which will make these coins much less volatile and usable as a currency. So while I agree that investing in a currency is bad, its not quite considered that yet,  so it can still POTENTIALLY be profitable to invest in right now until these coins become less volatile.