Help with crypto

[Cornfed]

I want to use money in my normie Western bank account to invest in a few obscure shitcoins without paying any outrageous fees. Is there a standard way of doing this without going through too many intermediary stages?

[publicduende]

I want to use money in my normie Western bank account to invest in a few obscure shitcoins without paying any outrageous fees. Is there a standard way of doing this without going through too many intermediary stages?

I can't think of any major exchange that charges fees to have your money transferred into their wallets besides, maybe, standard exchange rates if they only support major currencies (e.g. NZD vs USD, EUR).

[Tsar]

I want to use money in my normie Western bank account to invest in a few obscure shitcoins without paying any outrageous fees. Is there a standard way of doing this without going through too many intermediary stages?

You need to go through an official exchange and provide your passport and whatever other documents, then link it to your bank. You don't have FATCA so you'll be able to open an account on almost any exchange except ones that are EU-only Exchanges (excluding EU Citizens who also qualify as US Persons). Fees on some exchanges can be at low at 0.1% for low volumes but some as high as 1%.

Or you need to pay 20% fees to buy from a non-exchange with your debit or credit card, but there's no KYC or AML regulations.

[Cornfed]

It think I have finally figured out how to go about investing. I guess it is good that it is hard because otherwise the sniveling multitudes would have already ruined the market. Within a short while the slightly less stupid and diseased among them will be forced to get someone to show them how to do it and hopefully I'll be rich.

[Tsar]

It think I have finally figured out how to go about investing. I guess it is good that it is hard because otherwise the sniveling multitudes would have already ruined the market. Within a short while the slightly less stupid and diseased among them will be forced to get someone to show them how to do it and hopefully I'll be rich.

Did you decide to go with a crypto exchange or use the method for 10%-20% fees but slightly more anonymity?

[Cornfed]

It think I have finally figured out how to go about investing. I guess it is good that it is hard because otherwise the sniveling multitudes would have already ruined the market. Within a short while the slightly less stupid and diseased among them will be forced to get someone to show them how to do it and hopefully I'll be rich.

Did you decide to go with a crypto exchange or use the method for 10%-20% fees but slightly more anonymity?

I'm buying bitcoin using a NZ exchange after having gone through KYC and then trading it for the currencies I want. Since I have to make withdrawals from my NZ bank account anyway there is no point in obsessing about anonymity. The whole process to get coins in my wallet attracts about a 5% fee.

[Cornfed]

It is interesting that with just a little study I now realise the value of various cryptocurrencies. I always thought they were stupid, but there is a logic to some of them. Obviously they are prone to speculative bubbles like a lot of things, but there often is a point to them. I wish I had studied them years ago. I think this is going to be my new occupation.

[Cornfed]

I've made a few paltry investments in privacy coins. If they explode in value, does anyone know any other hot picks to diversify my investment into?

[Tsar]

I've made a few paltry investments in privacy coins. If they explode in value, does anyone know any other hot picks to diversify my investment into?

Yes but you would need to PM me. I don't give away my crypto picks to everyone.

[shawnberwick]

It think I have finally figured out how to go about investing. I guess it is good that it is hard because otherwise the sniveling multitudes would have already ruined the market.

Retail investors having been the driving force behind the past 2 bull markets.

Safemoon, Doge, Shiba Inu was being heavily bought by Gen Z and Millenials on TikTok last bull market. People can buy crypto on Cashapp and Paypal. It's pretty straight forward for most Gen Z and Millennials to buy crypto, a lot of them made money last bullrun during the lockdowns.

No disrespect, but you are behind the curve in terms of 'the multitudes' - they've been in crypto since 2017. Countries are now starting to adopt Bitcoin as legal tender. Institutional money is coming into crypto, they started slowing coming on board around 2019-2020, and even now it's stilly largely not taken seriously by institutions or media companies.

You're lucky though, you've entered crypto in a bear market. The masses leave crypto during the bear market, and then jump back in when the bull market is mid way through.

[fdiv]

It is interesting that with just a little study I now realise the value of various cryptocurrencies. I always thought they were stupid, but there is a logic to some of them. Obviously they are prone to speculative bubbles like a lot of things, but there often is a point to them. I wish I had studied them years ago. I think this is going to be my new occupation.

Have fun losing your ass on ponzi schemes

[Cornfed]

I'm in a real bind with the current attack on crypto as to whether to double down and buy more and the current cheap prices. The risk is of course that the current slump might cause otherwise viable coins to go to zero in and of itself. Probably I'll just hold my position, but it is so tempting.

[Cornfed]

It seems to me that now would be a good time to pick up crypto assets for pennies on the dollar as weak-willed and/or leveraged investors would be desperate to sell. I'm not deliriously happy with the way things are going myself, but I would be prepared to spare a few thousand dollars more to capitalize on the situation. Any suggestions.

[Moretorque]

It seems to me that now would be a good time to pick up crypto assets for pennies on the dollar as weak-willed and/or leveraged investors would be desperate to sell. I'm not deliriously happy with the way things are going myself, but I would be prepared to spare a few thousand dollars more to capitalize on the situation. Any suggestions.

You talk about ZOG, then you want to play in their playground. This $ system is coming down as I type, you need to try and figure out their next moves. Russia and China are stockpiling gold for a reason, the central banks can minipulate any crypto as they want and they want people in their digital money coming up. I think silver is the wise play now going into the next system as a no brainer. JP morgan has been hoarding that and it is real undervalued and when the reset hits coming up metals will be revalued much higher IMO. The US has no Gold so we Americans are shut out by the con artist unless the people wake up to what is going on. It's not going to happen my country is dumber than a box of rocks.

[Cornfed]

It is a pity no-one seems to know how to exploit the current situation. A few thousand dollars could be turned into millions.