Hi Glenn,
I did my very first two cryptocurrency trades today. This is pure speculation, and for my own educational purposes, as I'd no idea how to trade crypto before doing this. My discretionary / gambling / educational / speculative budget in this endeavor is $500. With this budget:
A) I bought 0.59756147 Etherium on Coinbase.
B) I transferred the ETH in whole to Binance, ending up with $479.22 worth of ETH in the Binance account after fees. Coinbase has high fees if you buy with a credit card, but I'm just not prepared to link a real bank account to my discretionary learning exercise.
C) On Binance, I traded the Etherium for IOTA, which is the cryptocurrency that I'm finding interesting for holding for a while. Binance is one of the only places where one can trade in IOTA. After the Binance fees, I ended up with 96.903 MIOTA (million IOTA). There was 0.00564298 ETH left in the ETH holdings after the transaction, even though I'd requested a "100%" trade of my ETH holdings; I can only guess they couldn't trade the whole lot due to rounding or something...?
I'll let you know how it pans out. As I write this note, the "value" of my speculative $500 investment is $477.97, roughly an hour after these two transactions.
This issues are highly volatile. Wish me a fun ride, whichever direction it may go. :)
Regards,
-- Zax |
