Tips and tricks for beginners. From scratch.
Have you checked the charts this morning?
As of December 30th- Ripple is the 2nd biggest Cryptocurrency right behind BitCoin.
This is kind of a big deal.
So let’s cut the shit where I sit here and pretend to be a day trading guru. I’m not. I keep my Crypto Portfolio simple with 4 coins- Ripple included- which has turned my collective investment of around $2k into $6k in 2 months.
Not a massive profit…but a pretty damn good one considering I’ve spent these last 2 months binge watching Survivor episodes while making money from my couch.
Wanna jump on my lazy train? Here we go.
How to Buy Ripple
Quick overview of what’s going to happen:
Sign up on Poloniex.com
Sign Up on Coinbase & Link your Debt Card or Bank Account
Transfer LiteCoin to Poloniex
Exchange LiteCoin for USDT
Exchange USDT for Ripple
Yes yes- this sounds like a massive hassle. But once you do it the first time, it’s a breeze.
Coinbase vs. Poloniex
Ok cool. Let’s do this!
Phase 1: Purchasing
Step 1: Sign-up on Poloniex.com
It can take anywhere from 30 mins-3 hours for your verification to clear which is why we do this first!
Step 2: Sign-up on Coinbase here
With this link…
You are given $10 free with an investment of $100 or more
I am also given $10 free when you sign-up
We just made $20 together - #Teamwork
You can download the App to your phone.
When it comes time to trade, however, you’ll need to pull up the website on your desktop.
Step 3: Link you debit card or bank account to Coinbase.
Once your account is active, it’s time to start buying!
We are going to buy Litecoin.
Why Litecoin and not Bitcoin?
I’ll run you through Coinbase using their Desktop Site.
1. Click ‘Buy/Sell’ at the top of the screen.
2. Select Litecoin!
Make sure you’ve got that green box and check mark to confirm it is Litecoin that you’re buying.
3. Enter the amount in USD that you’re comfortable investing.
With this link, spend $90 – get $100.
4. Check your Purchase (always) and buy!
Your purchase of Litecoin can take anywhere from 2 hours to 5 days! Be patient, my child.
Phase 2: Send Litecoin to Poloniex
Once your Litecoin are in your Coinbase wallet, we can send them to Poloniex!
In Coinbase, click on accounts.
Then go down to your Litecoin wallet and click ‘Send’.
*Your ‘Send’ button will be highlighted (mine is not because I just sent).
You’ll now come to this box (forgive me for the as I photoshop over BTC)
This is how we send LTC from Coinbase to Poloniex.
Now, we need our ‘Recipient Address”.
Let’s go get it….
Head to Poloniex.com
Hover over ‘Balances’ and click on ‘Deposits & Withdrawals’.
Once in Deposits & Withdrawals, scroll down until you find “LTC” and click ‘Deposit’.
You see that address? Highlight, copy, and we’re going to
paste it back into Coinbase under “Recipient”.
Double check that you are in your LTC wallet on
both sites. Not BTC or XRP or anything else.
Now, go back to Coinbase and paste your Poloniex LTC Wallet address into the Coinbase ‘recipient’ address.
Double check the amount in USD that you want to send… and
click the blue ‘Send/Continue’ Button on the bottom.
You did it! You’ll get a confirmation email from Coinbase when your LTC is sent!
Don’t panic if it doesn’t happen right away. Today my LTC email confirmation came immediately, but other days it’s taken 78 hours. It all depends on how busy the market is!
Phase 3: Trade LTC to Ripple on Poloniex
This is a 2-step process. Follow along closely. We’re almost done.
Step 1: Exchange LTC for USDT
We cannot change LTC directly for Ripple. Pain in the ass, I know…
On Poloniex, click ‘Exchange’ and you’ll be on the homepage of Poloniex.
Go to ‘Markets’ in the upper right-hand corner, click USDT and then scroll down to click LTC.
Both will now be highlighted in orange.
On the same page, scroll down to the box on the bottom that says ‘Sell LTC’.
Today, I don’t want to keep any of my Litecoin. I’m going to trade it all.
See where it says ‘You Have’. I have 2.088 LTC.
In the ‘amount’ box, I’m going to round it out to 2.
Then click ‘Sell’.
Step 2: Exchange my USDT to XRP (Ripple)
Now, I’ll go back up to Market, click the USDT tab and highlight XRP.
Both are highlighted in orange. Good.
Now, I’ll scroll back down on the same page to the box that says ‘Buy XRP’.