Ever since I stumbled across Steem I have allocated a small weekly amount to invest in crypto. I have engaged in some light trading, but mostly I am messing around with the coins for fun and a diversified investment. Nobody should follow any trading I do and I can't and will not give trading advice. I will explain my end-user experience as a mainstream, corporate type thinker as I learn about this strange and beautiful world of Crypto. However, I digress.
Why I Buy ETH Now At Coinbase Instead of BTC
I no longer use Bitcoin as my entry point into Crypto because it is slow. I now use ETH and the reason is simple. Speed. I get my ETH into my Poloniex Wallet within a couple of minutes. Bitcoin can take an hour.
Guess what else is fast? STEEM
Hmmm. So you can buy Etherium directly? Tell us about that!
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You setup an account at coinbase and when you make a purchase, you select... ETH or Bitcoin. Simple as that. You can even setup a set amount to invest, daily or weekly.
www.coinbase.com
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Interesting, I'd like to begin purchasing Crypto.
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It took me about a month to get my Coinbase set up. It is now automatic, a buy a set amount weekly. It is fairly easy to set up and you don't have to be a Cyrpto Geek to get it working.
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I was actually thinking of this same approach. Watching bitcoin lose 10% in value also spooked me a bit.
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Agreed, that was a factor for me also.
Mostly though, I just hate not knowing where my money is.. 90 minutes once with btc.
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Interesting, are you holding ETH as an investment or is it just a stepping stone to buy Steem on Poloniex?
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A little of both. Eventually, it will all end up in Steem, but I am taking advantage of the fact ETH is "Hot" right now. It is fun to play with as a trading coin, because it is volitile.
On Poloniex, ETH also trades directly with STEEM. So, no extra transfer fees.
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What goes up, goes down. Careful with eth now. Buy steem. Its cheap
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I am using Eth as the entry way. Can't buy steem with debit cards... yet.
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I have a Mist wallet. Shapeshifting Ether to other cryptos (except BTC) is a snap, you can avoid the entire BCU/BCC drama if you have wallets. I have shapeshifted to Dash and REP so far, no problems.
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I have to admit, I am a noob and I do not know what shapeshifting means.
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Shapeshift.io is a service that allows you to exchange one listed altcoin for another without having to change to BTC. You can trade from ETH/ETC, Dash/ETH, wherever you have altcoin addresess via a secure browser with no registration. Reasonable fees.
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Cool! Thank you for sharing. I will have to check it out.
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You can also do it at http://blocktrades.us :-)
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Really? I didn't know. I will check that out. Would love to support a fellow member of Steem. Especially one doing business on the chain.
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I've made the switch to Ethereum purchases from Coinbase too. Once I have the ETH I can quickly spread it out over a variety of coins, or switch it to Tether or SBD if I want to maintain it's USD value.
Speed is becoming an important factor. BTC is just not good enough.
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Exactly how I feel @seablue. I don't think people will continue to use Bitcoin as they see and embrace other coins.
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My only question is when Coinbase plans on adding vault features for Ether like they have for BTC. I keep most of my Ether in other wallets. They need to allow Ether vaulting.
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That would be great.
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Just last week, New York State changed the regulations allowing coinbase to trade ETH. Should be great for ETH prices.
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Interesting, Do you have a link for that?
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https://www.ethnews.com/new-york-coinbase-users-can-now-trade-ether
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