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asked in CryptoCurrency by
1. How to start with crypto currency,  how to create an account and wallet etc ? trusted or verified websites?

2. How to do day trading and trusted exchanges for it?

3. Best forums to read articles or blogs about latest trends in crypto currency?

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This will be a long answer, i might divide it in various answers 

How to Start with Cryptocurrency

To start with crypto , see these basic rules and always follow them

These are the basic rules and you can ask if you do not understand something .

How to Create a Wallet / Account for CryptoCurrency

Your crypto wallet is just like your real wallet, it has an address where you can send your cryptocurrency and a private key which is like a key and that key is to be protected and kept safe (better if its offline)

  • For Bitcoin you can create a wallet by installing Exodus and for an online Wallet you can make an account on Coinbase through which you can buy BTC/ETH/LTC - a very famous and secure site allows you to buy crypto through credit card
  • MyEtherWallet is a good wallet which you can use to store your Ethers and all Ethereum based coins 
  • Procedure for creating wallets is simple, if you open the links shared above its very easy and self explanatory 

Trusted Verified Websites

If I do not list a certain site it does not mean its not trusted,I will just list few which I have used and can personally vouch for

  • LocalBitcoin - LBC is a good site for buying BTC through local bank transfers and provides escrow , this site can be used to buy BTC and after buying it is advised to shift them to your own Wallet etc
  • Cryptopia - Cryptopia is an online Exchange - if you are getting into crypto you will get familiar with exchagnes
  • Poloniex - Another good exchange which I use for Day trading
  • BTC-E - Online Exchange with easy interface
  • GDAX - Online Exchange owned by Coinbase , if you transfer your coinbase crypto to GDAX there are no transfer fee
  • CryptoCompare - My favourite site to analyse crypto price and compare different coins
  • CoinDesk and CoinTelegraph - News sites which cover all sorts of crypto news and emerging coin with their own analysis (do not always fall for that - they are at times biased / inclined)

How to do Day Trading 

The simple rule of day trading is that you sell when your held crypto is at a higher place and the currency you want to buy in exchange is not at a all time high (ATH), but always keep in mind different fee so trade when the profits are great but I would not recommend any sort of day trading for you now, buy some crypto and understand the concept

Best Forums / Exchanges related to Crypto Currency

I have shared those above already

Common Cryptocurrency Frauds and Safety

The most common crypto frauds involve 

  • stealing your private key through phishing
  • offering illegitimate services
  • offering illegitimate investment schemes

Any service you see which you find too good to be true , It aint - do not fall for such services. you can always consult others or even ask us for a coin review . Very legitimate names have siphoned of millions from crypto frenzy where people have been investing and losing all their money.Few practices which might keep you safe :

  • Do not act without thinking
  • Bookmark or navigate to your exchanges etc - Google results at time show fake sites above the original ones.
  • Do not overuse your private key - You can bookmark your wallet on block explorer if you feel like seeing your funds no need to all the time access your wallet with your private key
  • Advertisements are no go - Self explanatory 

Hope these answers get you started , for more clarity you may ask

commented by
I have created account on coinbase on Localbitcoins. Now, what is the best place to buy ethereum or i should buy bitcoins from local bitcoin and then convert them to ethereum at any exchange?
Secondly what is nanno ledger ?
commented by
generally you have to buy Bitcoin and later convert to other crypto coins through exchange, although on coinbase you can directly buy ETH as well .

Nanno Ledger is a hardware Wallet which stores alot of Coins in a usb type hardware wallet , it is THE MOST SECURE WAY OF KEEPING CRYPTOCURRENCY (if used the way intended)
nanno ledgers are used by people who have heavy investments to keep their longterm coins safe and secure
commented by
Coinbase is not supporting buys/sell in pakistan ?
commented by
nopes, list of supported countries by Coinbase :
Czech Republic
San Marino
commented by
If we have btc on coinbase still we cant exchange to eth from Pakistan?
commented by
you can in that case...
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