Crypto Assets Tip Thread

[xeon]

Those who hold some of the less popular coins (coins other than bitcoin and ethereum that you can get from Coinbase), how are you buying and storing them securely?

I've seen some mixed reviews about Kraken, which seems to be the best exchange for UK. There doesn't seem to be hardware wallets to hold these coins once obtained though and I would rather not leave them in the exchange.

[fatmansan]

Behemoth said:

Thanks for the explanation (though I'm still a bit fuzzy about how that'd work in practice). You are spot on about the sector opportunity, which can be extended to the whole financial sector for crypto generally. The world of finance can easily be disintermediated to a very large degree since the inputs & outputs are already digital and can be verified with little friction.

At launch, I have no idea why Ethereum banged on about hiring rooms with smart contract digital hotel keys as their primary use case (slock.it). They were way off target with that. A cryptocurrency could be used to verify I have funds in XYZ equities or commodities or futures, but which computer is going to check I left the hotel room undamaged?

Not sure, but I liked the original idea behind slock.it. I have a rental in France and ability to get visibility on comings and goings is good. Linking locks working to payment/authorisation if it's your own place [through smart contracts] is also a good idea. I agree though, not sure it's the killer app.

[fatmansan]

xeon said:

Those who hold some of the less popular coins (coins other than bitcoin and ethereum that you can get from Coinbase), how are you buying and storing them securely?

I've seen some mixed reviews about Kraken, which seems to be the best exchange for UK. There doesn't seem to be hardware wallets to hold these coins once obtained though and I would rather not leave them in the exchange.

The answer, unfortunately, is "it depends". Anything based on Ethereum, I store on my ledger nano S, but you need to go via MyEtherWallet.com since the native Nano S software (Chrome app) doesn't show token balances.

For other alts, trade on Poloniex or Bittrex and move to a wallet on a computer.

I think Kraken are decent. They always respond (eventually) to support calls and funds normally clear in a couple of days from Fiat -> Exchange.

I would suggest you always have more than one fiat exit account though so you need Coinbase, Kraken at a minimum - with accounts setup and tested ideally - and there are others out there: Coingate and Bitpanda and eToro too. Some only offer EUR but if you need to jump back to fiat, the least of your worries should, in my view, be the exchange rate between EUR:GBP.

[Mattmox]

Good idea for a thread, this, fatmansan.

I'm very much in the early days with all this, so far I only have ETH & BTC, all bought via Kraken (fortunately I got verified on there before the present backlog all these places seem to have getting new members set up). I'm waiting for a couple of the other exchanges to get their acts together and verify me so I can start getting involved in some of the altcoins - Polo I've been waiting for over a month and counting! So I'll keep an eye on this thread with interest and hopefully it'll give me a couple of ideas of what to look at...

I'm also interested in xeon's question - I have a Ledger Nano S as well, and Exodus on the PC. Hopefully those two cover most coins I'm likely to buy...

[fatmansan]

So weekend reading is going to go on:

- LBRY (already listed)
- ECO.io (upcoming ICO)
- https://chronicled.com
- Digix DAO (digitising assets, gold seems to be the starter for 10)
- SWT (I picked some up the other day and they now have their first release "Boardwalk" live. All about monetising hashtags and earning reputation to be trusted. Fascinating idea and will only work if the network grows but I like the principles).

I also sold out of my Sia Coin position for a decent profit and it's now sitting in ETC because I want to see how their play as a store of value is going to go.

I've been playing around a lot more on Ethereum and the contract process via myetherwallet.com as I've been buying up a few names on http://registrar.ens.domains/. It's still not that intuitive and you've really got to want to do it. However, what it has demonstrated to me is how independent you can be with it all and get stuff done (like registering a XXX.eth address to resolve to my Ethereum wallet on my ledger nano s).

[anonymous-user]

i like lbry i mine it as well, but sold about 2000 coins a while ago before big pump.

iconomi is a good investment tool coin.

hot topic is quantum computing so coins resilient to this must be a good bet right now.

ive sold most of my coins due to issues but will carry on mining.

zcoin is a good one rising well.

[fatmansan]

The Spruce goose said:

hot topic is quantum computing so coins resilient to this must be a good bet right now.

Agreed - although I don't think there are that many out there yet?

The Spruce goose said:

ive sold most of my coins due to issues but will carry on mining.

Anything to do upcoming BIP148? I'm thinking seriously about pulling everything as any uncertainty is going to spell trouble.

[anonymous-user]

fatmansan said:

Anything to do upcoming BIP148? I'm thinking seriously about pulling everything as any uncertainty is going to spell trouble.

no i just finished my work contract so needed some money. will put some back in but agree still uncertain times, so spreading it about should cover it all. i will be holding longterm anyway.

[fatmansan]

Has anyone taken a look a NMR?

Looks like a very interesting idea indeed. Hard to know where the level should be though.

[alan-87]

I'm pretty new to crypto but trying to build up my knowledge fast.

Ive found some of the alt specific telegram communities to be pretty useful, but the broad crypto ones just have too many members and the bots run wild. If i set up a pistonheads "crypto matters" community would there be any interest?

Edited by alan-87 on Wednesday 5th July 23:34

[anonymous-user]

why not just post in this thread?