Corny post name I know but hey what you doing to do, love MK! Upfront I am not an expert and can’t be held responsible for you investing going forward. Any and everything you do in Crypto Currency is on you. Also new to markdown so if this looks crappy sorry.
New to scene, I have a buddy that has been trying to convince me to get into Crypto Currency for about a year now. Being me, I love to research things before I just dive in. Did my research and took my time and now I am here :-D!
I am starting light with Trading and investing in Mining/Lending. I joined Genesis for XMR and Hashflare for Bitcoin:
Visit Hashflare: https://hashflare.io/r/D6558B3 (save yourself 10%)
Visit Genesis: https://www.genesis-mining.com/a/1467846 (save yourself 3%) code 134YSb
I am considering bitcoin.com Pool because the preorder for Oct 31 looks great:
Contract Length a lifetime Initial cost ($189 per TH/s), Daily Fee $1.40. Pre-Order Delivery Date 10/31/17
Visit bitcoin.com Pool 2FA is down right now will provide link as soon as its back up.
__Let’s start with Hashflare: __
Great site and thus far making my payouts every day, its takes about 24 hours to setup and then starts daily pay outs. Also takes 14 days to make a your first wallet transfer to prevent fraud (love this!). I got lucky the day I started Mining I was able to get my contract before this went into place:
Dear users,
The cryptocurrency industry has always been susceptible to a high amount of volatility, and recent global changes have been some of the most significant. Due to an industry-wide hardware deficit, many market participants, especially mining hardware manufacturers, have to adjust their operations, procurements, terms, and prices of ASIC miners and their delivery.
Per Section 5 of Hashflare Terms of Service, SHA-256 and Scrypt contracts are now also subject to change. The changes, which mainly cover the terms and the prices of the contracts will become effective on September 1, 2017.
The new price for 10 GH/s of SHA-256 will be $2.40, while 1 MH/s of Scrypt will now cost $11.50. The maintenance & electricity fee will remain the same.
All new SHA-256 and Scrypt contracts will be issued for a limited term of 1 year from the moment of activation. All SHA-256 and Scrypt contracts activated prior to 01.09.2017 will expire on 31.08.2018.
Sincerely,
In other words, they doubled the contract fee and took it from lifetime to yearly, In my opinion BOOOO! I don’t mind with the price of bitcoin going up sure double the price but don’t take away the lifetime contract come on everyone else is doing life time.
*******Next thing is very important if you plan to mine litecoin: KEEP IN MIND HASHFLARE PAYS IT OUT IN BITCOIN NOT LITECOIN I lost money going this route and it’s not clear until they start paying out the mining rewards.****** I would recommend buying litecoin vs trying to mind with Hashflare.
Security wise it has 2FA and it logs out automatically after about 10 minutes which is great.
They also give you pool choices here are some links to help:
https://investoon.com/mining_pools/btc
https://rumorscity.com/2013/12/17/litecoin-mining-pool-comparison/
http://www.cloudminingreviews.com/bitcoin-pool/
https://www.buybitcoinworldwide.com/mining/pools/
Genesis Mining
Just bought into XMR it took about 72 hours to setup and yet to see an actual payout because the payouts are set to .4 XRM. It shows in my history pending pay out.
Security wise I have noticed that some session could last 2 hours to 48 hours which is quite concerning to me. They use 2FA as well.
Links:
https://www.cryptocompare.com/mining/calculator/btc?HashingPower=15000&HashingUnit=GH%2Fs&PowerConsumption=0&CostPerkWh=0
https://gobitcoin.io/en/
https://whattomine.com/calculators
Lending/Staking
About to start my journey into Bitconnect and will update as I go.
Visit https://bitconnect.co/?ref=SubZe12o referral name is SubZe12o of course lol!
You can stack money based on the following page: https://bitconnectcoin.co/guide/8/How-To-Stake-BitConnect-Coin-and-Earn-Interest-on-your-BitConnect-Coin-holding and earnings are based on https://bitconnect.co/bitcoin-information/18/investing-in-bitconnect-coin-and-staking
You can lend money based on the following https://bitconnect.co/bitcoin-information/19/investing-in-bitconnect-lending
It looks promising.
Security wise it has 2FA and it logs out automatically after about 10 minutes which is great.
Trading
I am still leaning all of this but the following links are a must to get you started:
https://www.coinbase.com to buy straight up bitcoin, litecoin, eth
https://www.gdax.com/ coinbase exchange if you want to name your own price.
https://www.coinigy.com/ trading platform that connects to mostly all exchanges
• Great charting ability for all coins.
• Cost $15 bucks a month
https://coinmarketcap.com/ learn all about coins
https://coinmarketcap.com/gainers-losers/ to get here go to the link above and look for a tab called trending, now select gainers and losers. Great to see what alt coins are doing and what you might want to invest in. Could be quite risky as well.
https://bittrex.com/ exchange platform
https://cryptowat.ch/ platform to keep running to see how the market is doing
https://www.tradingview.com/markets/cryptocurrencies/ great investment help
http://www.investopedia.com/articles/technical/061801.asp
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:ichimoku_cloud
Wallets
Brand new still learning about these
https://trezor.io/ supported wallets https://doc.satoshilabs.com/trezor-faq/overview.html#which-wallets-are-compatible-with-trezor-hardware
Bought mine on amazon from cryptoHWwalletCOM and these are approved vendors
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Uncle Sam (TAXES)
not an expert or know anything about Coin taxes but these sites helped me try to figure a few things out. *******MAKE SURE TO FIND A CRYPTO CURRENY ACCOUNTANT THAT CAN HELP WITH THIS VERY IMPORTANT*******
__
https://bitcoin.tax
https://medium.com/@EoghanMcKann/bitcointaxes-bitcoin-tax-software-b55a574e3071
https://www.irs.gov/irb/2014-16_IRB/ar12.html
https://www.irs.gov/pub/irs-drop/n-14-21.pdf
https://steemit.com/tax/@lpfaust/us-tax-considerations-tax-guidelines-for-mining-cryptocurrencies-bitcoin-ethereum-steem-etc
https://www.coindesk.com/irs-bitcoin-tax-guidelines-mean/ (This kind defines cloud mining hoping this is how it works, waiting to hear back from my accountant you should do the same.)
More to come as we go, please let me know if you have questions and I’ll let you know what I have found.
Special thanks to
CW you know who you are!!!
digicrypt for helping with tagging: https://steemit.com/steemit/@digicrypt/helping-new-steemians-with-tags
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