Wednesday, January 3, 2018 EST

If you have not started trading Crypto Currencies you may not have heard about some of the returns 50% plus a day.  

Background:  When people think of Crypto Currency they think of BitCoin, but it is much larger than that. BitCoin is built on what is a called a BlockChain. It is BlockChain 1.0 and is somewhat Legacy Technology.  The current leader in BlockChain (when it comes to launching tokens and transactions is the Ethereum (ETH) network.

What Are Tokens / Coins:  You can view these "coins" in a few ways. Some of the "coins" are pure currency, others represent an company and can be viewed as a Stock (but they will not call it a stock because then there are regulator issues).

Examples:

  • ETH / Ethereum: ETH token is a crypto currency and runs on the Ethereum network. Include in this network are hunderds of other tokens (ERC20) tokens that represent a company. At this link you can see all the ERC20 tokens that can be traded
  • XRP / Ripple: This is a crypto currency that is being integrated with banks and has blazing fast transactions (seconds) where it can take hours to send BitCoin.
  • XML / Stellar:  Stellar is a crypto currency but more. They are partnered with IBM to create a global payment network. You can also launch an new token on this network similar to Ethereum .
  • TNT / Tierion: The token that represents Tierion (TNT) can be used as a currency but it's main purpose is to buy the companies services. It can be viewed as a "stock" but as discussed earlier it will not be presented in that manner. 
  • There are hundreds of tokens to trade, but look for actual companies.  A good place to get a list is at CoinMarketCap (but note quote updates are slow)

How To Get Started: In the USA you have to first get Cash into the market. Outlines are the steps below.

  1. Open an account at CoinBase (USA Company). You need to upload a drivers license and then associate your bank account to transfer funds.  There are very limited tokens on this site (BitCoin, BitCoin Cash, Ethereum, and LiteCoin.   The exchange shown below carries many cryptos to trade.
  2. Open a Trading Account at Binance (Tokyo).  Binance is one of the best Crypto exchanges and has great customer support. You can trade the Binance BNB token on this site. As of this post it is $8 up from pennies.  When you buy this token it reduces your trading fees.
  3. There are other brokers we actively use, but we recommend Binance to get started since it has the best interface and is quick to setup. 

If you have questions email us or reply to this post. 

 
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