Sunday, 31 December 2017

Some noob questions


Hi all. I have known about bitcoin for a few years but have only just started investing. Right now, I have got a similar amount of coins in several altcoins. I have a few questions.1) I am buying ETH on Coinbase, transferring this to GDAX (ETH to ETH), then transferring this to Binance (ETH to ETH). I can then use it to buy altcoins. Is this the best way to do it?2) If I wanted to transfer from altcoins back to FIAT would I do the opposite of #1? What kind of fees would be incurred (GBP)?3) I buy ETH on Coinbase using debit card. This costs me about 4% in fees. Is there a way to avoid this or reduce fees? Note that I am only dealing with amounts of ~£1k (GBP) right now.4) Since altcoins are extremely volatile right now. What is the best way to store profit when an altcoin goes high so you can buy back in later? Most coins seem volatile at the moment. ETH seems the most stable? Or should profit always go back to your FIAT wallet on Coinbase? Again, what kind of fees would this incur?Thanks for any help offered.

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