/Newfag/ General & QTDDTOT

[Biznessman No.24218166]

Newfag General is for everyone new to crypto and /biz/ and for questions that don't deserve their own thread.
__________________________________________________________________________________

>Guides

• Basic Terms you need to know: https://academy.binance.com/en/articles/12-terms-every-crypto-trader-should-know
• Full Guide to Markets & Trading: https://academy.binance.com/en/articles/a-complete-guide-to-cryptocurrency-trading-for-beginners
• Ways to store your crypto: https://www.investopedia.com/news/bitcoin-safe-storage-cold-wallet/

__________________________________________________________________________________

>What are the first steps towards becoming a /biz/nessman and how to not be a retard

• Only invest what you can afford to lose
• Buy low, sell high
• Take profits if your investment is on a steep way up
• Always do your own research
• Learn basics of technical analysis
• Holding your coins is almost always more profitable than trading
• Lurk before posting
• Stick to the basic coins (BTC, ETH, LINK) before thinking about buying shitcoins
• Not your keys, not your wallet, not your coins
• Don't trade with leverage
• You can never leave /biz/, even if you make it

__________________________________________________________________________________

>Which Exchange do I pick?

• Recommended CEX - Centralized Exchange(s)

‣ Binance
+ Biggest CEX, great liquidity
+ Very wide range of tools and functions
+ Decent Range of Coins
+ Low fees
- Range of tools confusing at the start
· Referral Code for lower fees: LCOH7XBD

‣ Coinbase
+ Beginner friendly
+ Easy to use
| Can upgrade to Coinbase Pro for more functions
- Works with Tax institutions (IRS etc.)
- Limited Choices of Coins

• Recommended DEX - Decentralized Exchange

‣ Uniswap
+ Biggest DEX, highest liquidity
+ Supports almost ALL ERC-20 Coins
+ Easy to use Interface
+ Uses your own wallet
- Only swaps your coins, almost no tools

[Biznessman No.24218185]

That's it for now, I will be putting together a pastabin once we have enough questions/answers and contributions.

[Anonymous No.24218202]

This time bitcoin going to around 50-60k before crashing?

[Anonymous No.24218332]

>>24218166
you have to go back

[Anonymous No.24218509]

>>24218166
Nigger
Jews
Chinese
Indians

All will go to hell
>Increase mic's volume
FUCK JEWS
FUCK NIGGERS
FUCK CHINKS
FUCK PAJEETS

AND MOST IMPORTANTLY, FUCK JANNIES

[Biznessman No.24218671]

>>24218332
woah they learn fast

>>24218509
yes

>>24218202
no

[Anonymous No.24219007]

>>24218671
>no
Then what it is?

[Biznessman No.24219270]

>>24219007
Impossible to know, nobody can see the future like that. You can only do your own research and adapt along the way.

[Anonymous No.24219661]

>>24218332
Fuck you, if we can contain the new fags here then they wont shit up threads or the board. Don’t spoon feed them but give them enough to make decisions on their own
>>24218166
I tried doing the Newfag general but saw little success I’m glad someone else is doing it

[Biznessman No.24219910]

>>24219661
yea I've seen a lot of retarded questions and threads being posted recently, one of the things this board lacks outside of flags is a QTDDTOT and a place to contain newfaggery from spreading

[Anonymous No.24220154]

Oh nice I was looking for a thread like this.

ATTENTION ALL NEWFAGS: YOU ARE FUCKING RETARDED AND HAD 2 YEARS TO BUY IN. THIS MEANS YOU ARE RETARDED ENOUGH TO LOSE ALL YOUR MONEY DURING OR AFTER A BULL RUN SCENARIO.

NEVER FORGET HOW FUCKING DUMB YOU ARE.

[Anonymous No.24220368]

Newfags, don't listen to pajeet airdrops that require you to write your secret words. NEVER give your secret words to anyone.

You can get free crypto on Coinbase/earn

[Anonymous No.24220508]

Best way to store linkies and keep my funds safu?

[Biznessman No.24220540]

>>24220368
thanks for the reminder, here's the pasta for coinbase earn

XLM

https://coinbase.com/
earn/xlm
/invite/s0x5dkmp

XLM Answers:
1. A decentralized protocol that unites the worlds financial infrastructure
2. Facilitating low-cost, universal payments.
3. Transactions are fast, inexpensive, and global
4. To issue, exchange, and transfer tokens quickly and efficiently
5. It relies on the cooperation of trusted nodes to confirm transactions.

-----------------------------------------

EOS

https://coinbase.com/
earn/
eos/invite/vykfg6d1

EOS Answers:
1. A blockchain protocol for fast, scalable applications
2. Delegated proof of stake
3. Fast, free transfers
4. Stake EOS tokens
5. Upgradable smart contracts

-----------------------------------------

COMP

https://coinbase.com/
earn/comp/
invite/t9s3d5wb

COMP Answers:
1. Earning interest
2. Supply a crypto asset as collateral
3. COMP token holders

[Biznessman No.24220591]

>>24220508
>• Ways to store your crypto: https://www.investopedia.com/news/bitcoin-safe-storage-cold-wallet/

Safest way is getting a hardware wallet

[Anonymous No.24220653]

>>24220591
Ok I honestly didn’t click and thought that was only for BTC, thanks oldfag

[Anonymous No.24220744]

i luv benis i love benis i love it love love love MMMMM benis!

[Anonymous No.24220767]

>>24219661
That's a plebbit-tier mentality. We don't need a *wiki* here. You both have to go back.

[Anonymous No.24220942]

Where can I go and buy BTC in EU? I've heard coinbase exit scams.
Also, alike much is trading crypto/stocks to actual gambling? It's clear that you need to know some stuff before getting into these, but in the end the market can't be controlled in any way (by normal users), just like when you're gambling.

[Anonymous No.24220992]

Don't buy crypto on paypal or robinhood. Even if you believe it's perfectly safe, you can't withdrawal your coins. You might think
>I just want to buy it and sell it later, I'll never actually use it. I already have a robinhood/paypal account so that's easy.
WRONG You will want to actually use it and you're fucked because you can't move your coins off. Trust me, I know.

[Anonymous No.24221022]

>>24220767
>brings up Reddit twice now
You’re a new fag I guarantee. Unlike other boards /biz/ doesn’t give a shit about Reddit since we outperform /wsb/ and their crypto equivalent. Have you ever been to a /SMG/ or /PMG/ thread these are the most helpful people you will ever find on this board. So take your nigger dog eat dog mentality and shut up your as you little faggot.
>We are All Going To Make It
Except you

[Anonymous No.24221182]

i'm still on the waiting list for coinbase rewards, apparently they'll let me know when i'm eligible to earn. what's the deal? is there just a ton of people wanting to do it, or is there some criteria for eligibility i'm not meeting (e.g. account isn't old enough, not enough invested, etc)?
also, thank you OP this is very helpful

[Anonymous No.24221257]

Can anyone name a good staking system?

Studied DMX token pn Probit, trycheck this platform: dymmax.com
What is your opinion/point of view about it? There is a staking model and extra liquidity for tokens with the new smart-contract feature.

[Anonymous No.24221292]

Oldfags, what are deal with altcoins? I thought they are useless because they basically go with bitcoin in price, but i see on coinmarketcap that some alts outperform bitcoin. I recall a popular website that is used as wallet did stellar giveaway long time ago, and now i see stellar is up alot for example.

[Anonymous No.24221386]

Jesus Christ I'm gonna puke

[Biznessman No.24221566]

>>24220942
if you don't trust coinbase, https://bitcoin.org/en/buy or binance or any other exchange

>>24220992
yup, you basically don't own the crypto if you use paypal/robinhood

>>24221182
Have you tried using the links I posted? They unlocked them instantly for me, but there's definitely like a waiting queue, I think you get an e-mail when it gets unlocked too. there's definitely a ton of people trying to get into it it's literally free money.

>>24221386
ok

[Anonymous No.24221996]

Is it too late for wagecucks to hop on the rockets? I played it safe and started investing in hard assets (metals, wammo, etc.) and rebalancing stocks. How do I keep out the FOMO and buy coins coins responsibly on a budget

[Anonymous No.24222145]

If anyone starting out with Coinbase wants to Earn some free Crypto:

https://coinbase.com/earn
/xlm/invite
/j0kxgth5

Two spots left.

[Anonymous No.24222282]

>>24218166
Does anyone know how to swap ETH stored in the Binance Smart Chain to the real Ethereum Network? I feel like my coins are in a limbo.

[Anonymous No.24222743]

bump

[Anonymous No.24222897]

>>24221996
As a relatively new dude to crypto take the advice I am always told by oldfags, just buy Chainlink. BTC and ETH too if you’ve got big money, but I prefer to buy coins where I can afford to buy multiples of them instead of fractions. My first crypto purchase was buying LINK at 4 and then selling at 8, then I watched it go up to 20 baka. I bought back in recent at 9.8

[Anonymous No.24222997]

>>24218202
25 then 60 then 100 then 200k. Print this out as a guide for your long positions.

[Biznessman No.24223546]

>>24221996
Stocks are a much safer option, also, you don't have to risk your money on coins directly you can invest in crypto services like exchanges which will have growing demand almost regardless of market price action. Only invest what you can afford to lose or what you are prepared to hold for a long time to break even in case shit goes south.

>Is it too late?
I don't have a magic crystal ball and I don't know what you are looking for in terms of profit, timespan and acceptable risk.

[Anonymous No.24223900]

>>24220540
Any things like this for binance?

[Anonymous No.24224057]

>>24220942
The gambling question is genuine... I’m a total newfag to this

[Biznessman No.24224630]

>>24223900
Best I can do is use my Referral Code for fee Discount: LCOH7XBD
and watch the homepage of binance sometimes there are rewards for completing a survey or other things, also you can do your own referrals, it's a win-win situation, you get 10% of fees as a reward and the referred person gets 10% of fees discounted permanently.

>>24224057
Compared to the stock market, crypto is gambling, but not literally. You can do research and learn technical analysis to increase your odds by quite a lot. There is just a lot of volatility which is the main reason why people say it's like gambling, high risk high reward. Also, obviously some Coins are riskier than others. Nothing is guaranteed to make you money, simple risk and reward.

[Anonymous No.24225204]

gentlemen, i bought NEXO coin when it arrived, should i pull out now or hold?
absolute brainlet in shitcoins, but if some ascended lifeform on /biz/ says I should hold I will.

[Anonymous No.24225212]

>>24224630
Thanks man I appreciate it

[Anonymous No.24225252]

>>24218509

bold

daring

subversive

[Anonymous No.24225419]

>>24220508
Mt.gox exchange is probably the safest place

[Anonymous No.24225462]

>>24218166
Here is the real newfag guide, buy kneepads and start sucking for extra cash to take maximal risks.
>Risk = Reward
You can eveen sell your boypucci to sped this process up, but it wont work for dirty plebbitors with boypuccis bigger than a freaking aircraft hangar.

[Anonymous No.24225640]

>>24225462
Honestly best advice but only if you’re desperate

[Biznessman No.24225742]

>>24225462
good advice, I can see you know what you are talking about and I can feel your passion for your business, good luck anon!

[Anonymous No.24225819]

one last questkon. are traps gay?

[Anonymous No.24225870]

>>24225819
All true /biz/ness man are traps anon.

[Anonymous No.24225891]

>>24225819
Yes but it’s up to you so decide if that’s a bad thing. A man can change his appearance but will never be a woman and vice versa

[Anonymous No.24226474]

I dont trust coinbase after yesterday's outage. Which should i trade to and how? Binance?

[Anonymous No.24226607]

>>24218166
>Learn basics of technical analysis

Would appreciate more resources on this. Otherwise good stuff here.

[Biznessman No.24227083]

>>24226474
Binance is fine, it has everything you need only real downside is that it is centralized and requires kyc.

>>24226607
In that case google and youtube are your best friends, lots of free resources on that topic.

Before you get started on TA watch this: https://www.youtube.com/watch?v=omXPt53KIWc

[Anonymous No.24227564]

>>24227083
Seems CB requires KYC too as they're making me verify my ID before send/receive which pisses me off more

[Anonymous No.24227736]

>>24227564
Comply with the law if you’re a burger or spend time in federal prison for money laundering. You can never cash out if you put money in use coinbase to buy with fiat and send it to MetaMask and then a hot pocket. Move the money nigger

[Anonymous No.24228446]

>>24222997
Are you talking about current cycle we are in, anon? I mean all this will happen soon (tm) in your opinion? Or you talking 25->Crash for few years->60->Crash for few years...

[Anonymous No.24228548]

>>24228446
200k EOY 2021

[Anonymous No.24228709]

Exchange of crypto is taxable in the US, correct?
If I buy $100 worth of ETH and exchange it for $100 worth of RSR, how much do I owe in taxes?

[Anonymous No.24228777]

>>24227083
Much appreciated, fren.

[Anonymous No.24228785]

welp, that's it. this board is over. see you guys in 2 years.

[Anonymous No.24228792]

>>24220540
Yeah, thanks for info bro!

[Anonymous No.24229103]

>>24228548
>200k EOY 2021

Looking at the graph in 2017 it took only 6 month from jul to dec for price to rise x10 and then crash and burn. Anon, why do you think it will rise for a whole year without crashing for a 3-4 years again?

[Anonymous No.24229148]

>>24223546
I'm late, but how exactly do you invest in exchanges??

[Anonymous No.24229497]

>>24218166
should i put a small bag on xrp and then jump out into eth/btc when im satisfied/hold till the flare drop? Or will this be a goddam textbook buy high sell low strat

[Anonymous No.24229736]

>>24219661
Delete this nigger. You’re ruining the entire point by spoonfeeding them this shit.

[Anonymous No.24230323]

>>24221996
Come back when the board is filled with Pink wojacks and DCA in every month from then.

>>24221292
Alts are purely a speculation play. They go up spectacularly and they go down spectacularly.

>>24227083
What? Binance never needed KYC unless you’re cashing out >2 BTC per day

[Anonymous No.24230409]

>>24229148
Exchange coins, here’s a list
https://www.coingecko.com/en?category_id=exchange-based-tokens&view=market

[Anonymous No.24230775]

So, i am a poorfag that has 5k in BTC right now. Should i buy some Ripple and Linkies ASAP or not?

[Anonymous No.24230904]

>>24230775
No you've missed the moon missions. Try Dash or XMR set sell at 125% your buy price

[Anonymous No.24230983]

>>24230904
>1 post by this ID

[Anonymous No.24231164]

>>24218509
based

[Anonymous No.24232098]

all in 42k statera after not holding anything but like $500 eth since 2018, not fucking scared and ready to have 42k eoy or die trying

[Anonymous No.24233121]

Overly Cynical motherfucker here. Been to war now I am a medic and watch bad (often in a dumb way) shit unfold every week. Please frame my question with that in mind:

How safe are IRA/Roth IRA in-so-far-as will the money actually be there in 30 years when I go to withdraw it? I have read investopedia and the like but they all talk about the mechanics of it, not the nuts-and-bolts. Where is that money going? What kind of guarantee do I have that my investment will be there when I want to cash out, even if there was 0 growth? I swear I tried cursory google searches before bugging ya'll

[Anonymous No.24233230]

As a wagecuck student who's just barely managed to get suicide stacks in whats expected to moon, how much can I expect capital gains to take off when I go to withdraw? expecting at least 300k 2021 eoy here.

[Anonymous No.24233240]

>>24233121
Newest of newfags.

[Anonymous No.24233310]

>>24233240
Ya, I don't come here really at all.

[Anonymous No.24233365]

>>24220767
kek, retard. you realize weve been pointing people to warsou archives for years now right

[Airdrops No.24233368]

>>24218166
Germanon student newfag here
Just got into crypto, got around 300 €
I don't earn any money, I've never written a tax return in my life
Do I need to make a tax return for this year to report that I have crypto? The tax situation just seems really confusing to me, and I don't want to evade tax nor do I want any unnecessary trouble or work

[Anonymous No.24233420]

>>24233240
Do you actually know something or were you just jerking yourself off?

[Anonymous No.24233427]

>>24221292
Alts are basically the lottery. Almost every single one if them (literally 99%) are trash, but trash can still rise in price. Alts simply exist to stack sats, or get more bitcoin. If you're a thrill seeker, invest in alts. If not, you'll make steady gains with the main trio (proven non-shitcoins, which will survive a bear market)

[Anonymous No.24233875]

When a coin is peaking should I swap it over to a relatively stable coin then swap back in to the original coin when it dips again?

[Anonymous No.24233889]

Everyone here is racist, get out while you still can. Reddit is better. if you stay you will lose money

[Anonymous No.24233934]

just want to say that generals such as this are important for the future of this board

[Anonymous No.24233936]

>>24233121
ok so here's what you do (preferably in this order, but you'll make it as long as you do these things)
>stop saying yall
>Don't listen to boomers, t hey give shit advice born from being handed everything in life.
>Trust nobody on /biz/, do your own research and come to a full understanding of WHY X should/will be worth something in the future, and have some sort of concrete amount or idea of the percentage for your reasoning
>buy BTC, ETH, or LINK immediately with every penny you can muster up.

Yes, it's that easy. All these people you hear about making millions of crypto can in fact be you. Well maybe not anymore because you were supposed to buy three years ago but if you wait long enough and pour enough money into it eventually it CAN be you. Anyone who claims that it's luck is a retard and you should disregard what they think because it's the same coping mechanism every normalfag uses to explain away why someone else is successful while they're still mopping up shit and piss in a retail bathroom at 11 PM. The only difference that separates you from everyone else is what you know, and when you know it. Everything else falls into place naturally once you find the information, and you'll know because you'll be shitting your pants begging for whatever you're trying to buy to go back down.

When this feeling hits you though, take a step back and realize this is still a market, things play out on a longer timeframe eventually and if something did a 1000% in the last month chances are it's going to crash hard eventually.

[Anonymous No.24234001]

>>24233875
Swapping is a taxable event and if you have made over 20k you need to report to the IRS https://www.journalofaccountancy.com/issues/2018/mar/irs-summons-of-coinbase-records.html

[Anonymous No.24234023]

>>24218166
IMPORTANT: In general, do not buy tokens that end in Protocol or . Finance, they are scams with no real uses other than to steal your ETH in tokens that will bleed out.

[Anonymous No.24234186]

>>24233934
The creation and need for this general is also a sell signal. DOMP EEET.

[Anonymous No.24234248]

I'm just talking a couple of hundred, just swapping around on coinbase so I don't loss profits every time it dips.

[Anonymous No.24234354]

>>24234186
all the people calling it a sell signal aren't wrong, but they'll be the "first selloff" so in reality its very bullish. since this presumably is the real crypto cycle the sell signal will be boomers, nigger women (with a market saturation greater than 1%), and rich asians, in that order.

[Anonymous No.24234681]

newfag topest protip
buy geeq and have an entry 100x

[Anonymous No.24234801]

>>24234354
i remember twitter pics from actual niggers discussing how they buying ripple for 3$ "s-m-h" in 2017

[Anonymous No.24235828]

>>24220508
Send them to my wallet and I'll keep them safe

[Anonymous No.24235849]

>>24218166
I havn't used uniswap before. I have some ethereum I bought on coinbase, and can transfer it to my own wallet which I can then use on uni.

As I understand it, I need to use ethereum if I wanna start swapping on uniswap. With most people using this for altcoins, doesn't that mean ethereum's price will always go up when more and more people use shitcoins only listed on uni?

[Anonymous No.24235898]

>>24225819

[Anonymous No.24236038]

If buying one crypto with another is taxable in burgerland what happens if you convert something into a stablecoin? Like if I converted $1000 of BTC into USD Coin do I get taxed? Or is the answer no seeing as there technically wasn't any profit?

[Anonymous No.24236120]

>>24234023
>IMPORTANT: In general, do not buy tokens that end in Protocol or . Finance, they are scams with no real uses other than to steal your ETH in tokens that will bleed out.
Even Axia?

[Anonymous No.24236226]

>>24236038
That's why they created the crypto to crypto transaction laws, was because people would claim UDST conversion wasn't really cashing out so

[Anonymous No.24236328]

>>24235898
based

[Anonymous No.24236814]

Redpiller me on yield farming.