I've been investing in crypto for over a month now, so undoubtedly several of you have way more experience than I do. But here's what I've learned so far.
I've tried the following trading sites: coinbase, coinbase pro, kraken pro, gemini, Voyager, binance, and uphold.
Binance seems to be the best but isn't available to be used in Texas. WTH?!?
Coinbase is the simplest, but has very little choices of crypto you can buy and how you can buy it. Basically you can link a bank account and add money to coinbase and then buy and sell various choices. Coinbase is limited in the choices of crypto stuff you can buy into. But, its super simple especially for "buy and hold" positions.
Coinbase pro has more choices but is not as user friendly. You can do limit orders and sells.
Voyager seems to be a bit in-between coinbase and coinbase pro. Not bad or good, but has good choices. I basically signed up for this one so I can buy VGX. It was a good investment and has earned me about 23% this week alone. (My VGX investment) . Voyager had me on a waitlist for almost 3 weeks. WHAAAT?! Could have gotten into VGX and Cardono (ADA) way earlier. I have no idea how many people tried to sign up for voyager at the same time, but they got overwhelmed.
That's why I got on Uphold. But it sucks and the fees are high. If you can get into the above 3, I recommend them over Uphold.
Krakenpro- I got in to Kraken-pro because all of the above are lacking. Now, I haven't funded Kraken to date but will soon. It's a challenge to get funded and you need two forms of id. If you stick with it, Kraken pro looks to be as good as binance and as far as I know you can use it and fund it even in Texas (again, what the heck, binance!!?)
So, I spent this last week fully immersed in the crypto world. I opened a trading view account because it has the screeners and technicals on the crypto-world. In my youtube immersion, someone that goes by bit-boy started talking about a screener called market cipher. When used in conjunction with Trading view, you can open the market cipher scripts on a chart and it gives good buy, sell, and support signals. It cost me $360 (with the bit-boy discount) for 5 months. But, I am one that will go all-in when I go. So, I've been learning it as well.
My strategy is ever evolving. I'm doing more than dipping my toe, but I still don't know how strong to invest in this "new" space. I don't want to be like my 12 year old self telling anyone who will listen that "My Emmitt Smith card that I bought for $1 is worth $20!" I want to be the guy that is saying, "I'm sorry my poor friends. I told you the next big thing was the crypto-space and you laughed at me."
I think I plan to spend about 10% of my discretionary funds each month investing into the cryptospace.
I want to buy and hold both Bitcoin and Ethereum because I think those two win out in the end.
I want to have some of my discretionary funds allocated for trading. I think I'm learning that day-trading isn't really a great strategy with the cryptos, but swing trading can be. That's why I bought Market Cipher.
I think it will be a challenge to narrow down which coins and such are going to "win" in the end and which ones we can ride in the mean-time.
I will watch my Market Cipher and let you guys know if I see anything interesting. Currently, I think Bitcoin, et al. will drop a bit sometime over the weekend. I will let ya'll know if I see something interesting and will tell you if I sell any or buy any. I am not an expert or even close, but I want my experience (good and bad) to save someone else time and money loss.
One really cool thing about Crypto- It's always open!! You can trade weekends and evenings, so we're not stuck trying to learn this during our work day!!
Disclaimer- Don't listen to me. Make your own choices.