₦airaland Forum

Leezah:
Jedisco how do I start this Betcoin thing

Hmmm....
I think we need to make a post on 'how to buy betcoin'
P.s Be careful of spelling it out fully cos of antispambot

I'd take it you know the basics about betece i.e it being a digital currency with limited supply and increasing demand hence destined to rise with more adoption.

It's still relatively in it's early days hence volatile. People trade different timeframes to profit from thet volatility i.e day trade, swing (usually few weeks), high time frame (target major moves- we usually have 2 or 3 of these per year), hybrid (mix of the above), and long term investors who just buy and keep for a very long time.

Now,
1. What timeframe do you want to use?
2. Are you thinking of investing a very sum or do u want to start out with a smaller sum?
3. What percentage profit are you looking at making and over what period?
4. What's the max amount of loss you're willing to accept over that period.

Your answers to the above will determine what advice I'd give so I don't make things complicated.

jedisco:
Who else uses the cryptoo fear and greed index for confluence?
It's quite a new one but I've used it in the past to hood effect.

Looking at it, it's quite obvious, the 38-42 level is key... Above that level, we're good below it isnt nice. It had currently dropped to 40, testing it as support... Lets see how it plays with this level over the bext weeks

What's more interesting is that altys have held their levels on this drop

Remember this chart... See it now.
Wasn't expecting a V-reversal on it. It surprised me.. . But then, we may have had our dip. The number of folks waiting on a sub 30k betece seem too much to be given that gift. This market does not reward the majority. If it rewards them, then it may continue much lower. I'm watching how this week ends to see the trend.

The fact that the dip today couldn't even hit 30k points to some heavy buying at support. It's those folks left out that'd FOMO in if it moves up to drive us past 40k. That said, it's that kind of retail liquidity whales like to dump into cos there'd be less slippage. So I'd apply caution until we reclaim the 34-35k level

luvlyoracle:
Wheew....Nice analysis... Been on eth though am tired of jumping around.
The more i jump, the more i loose

Hehe... Seems like you're really interested in trading.

I'd give you a tip.

Analyse any poor trade you make and what errors led to it. Write down the lessons you learned. It's a simple life saver.
The reason is simple, this market flows in circles. The easiest way to profit is by not repeating your past mistakes and avoiding mistakes of others when you can.

Regarding eith, I'd advise to hold. It'd outperform 99.9% of altys in the long run. As a newbie having part of your portfolio in btz or eith is part of risk management cos when the market turns, you don't want to be holding altz.

The previous eith run is what other altys are benefiting from now just as eith benefited from the previous btz run. It's time will come again. Look what happened this week when eith moved and how it squeezed up other altys. Be patient, when it moves well, you can sell part of ur stash into good but lagging coyns or you could take profit and buy up other altys on a dip. Playing either scenario will depend on what the market gives.

Usually, when trading altys, I split my portfolio between about 5 coyns I've penciled down. That way, I can take or flip profits when needed.

Jerry59:
Aave has been doing well recently, same as Makr

Yeah... Got into aave soon after in broke 95 whivh was its previous high.. it's over 200 now. I'm targeting 300 at least. Monitoring it as it goes up. It and dot have been sweet

For mker.. kept bouncing between 450 and 600 for a long time before it teleported to 2000. I don't like the upside wick on last weeks candle. I think it's done for a while

TheEnlightenedO:
Abeg how do I avoid getting banned again for another three days. What words am I using wrong with this antispam bot. I no Dey advertise anything na

Hehe...
Not so sure the cheat but this is what I use
Crypt0
Betece or btz
Eithy

Also if you quote someone, make sure those words are not spelled out in the original post

jedisco:
Looking at PA on betece, It's been rejected from 34k and is currently testing 32k as support.
I'm looking at 2 options for the bullish case

1. A strong flip of the 32k level which should take it past 34k

2. A breakdown of the 32k level which should make it go down to test the lows at 30k once more or may even wick to as low as 27k before rebouncing. Giving folks another buying opportunity... If this comes, I'd advise folks to leverage in. There is strong demand below 30k. No one can time the bottom and the fact is soon enough, it may not matter if you bought at 30k or 26k

Either way, I'm watching and hoping to capitalise. I'm leaning more towards the second option but not expecting to deep a wick. I also expect altys to hold either way.

Other thoughts?

Option 2 playing out but seems betece is struggling to sell off to 30k.
I see altys coiling... If I was a day trader, this is when I'd start averaging in. If betece bounces here, then altys will go crazy.

BTW, I have a ridiculous amount of Link but I feel I'm underexposed... If not for trading principles, I'd have closed other positions and Linked up.... This stuff will easily reach 40 once betece settles

Aave also coiling... Not bad..

Who else is feeling same way?

Leezah:
Good afternoon House!

How are you doing? hope the weekend is beautiful?

Please, what's are your thoughts on Crypto currency?

Joe Biden Administration is looking towards that direction

I'd say it shouldn't affect much in the long run. With more dollars printed cos of covid, the value of the dollar will fall and more money will flow into assets.

But then, you can ask on the crypt0currency thread for more varied opinions.

TheEnlightenedO:
This is exactly what is killing people now... Same thing most did in 2017, trying to jump in at its peak, wait for it to have some reasonable balance and set targets (most important thing).

Many people said it was too expensive even at 9-10k in September less than 4 months ago but now it doesn’t even matter that it’s over 28k

It's human nature... A bull run always needs irrational greedy buyers who are aiming for the moon that would ultimately get burnt.
That's the fuel that drives a bubble.

That said, I believe there's still some upside left. More of such posts would flood here in the coming weeks

Akinola2345:
You never provide a solution to the question ask...you keep on quote....

Will all this you are saying provide a meaningful answer..

I'm sorry for not providing a meaningful answer.

Akinola2345:
I want a long term investment... At %50-%100 return....if I put in 50k and could be able to realize 5ok profit... That is why I decide to go for a long time...
Thanks...

What if you put in 50k and after that time its worth 25k?

I'm asking cos alot of new guys see this area as a money spinner. It's not.

They say betece was 4k less than.a year ago and has done x10 since. If you had told then to buy at 4k, they wouldn't. Now it's 40k, everyone is looking to double their capital. There's a good chance folks will end up buying the heavy bags of those who bought earlier

Akinola2345:
Hi...guru

Which coins can I buy now on binance for a long time hold...like 6month to 1year??

Thanks

I'm not a guru. That's why I held on answering. But given we'd see more of these posts as the bullrun orogresses, I decided to chip in.

I'd give you my advice but you're the one to make the decision hence the responsibility is on you.

Let me ask you a question what percentage profit are you looking to make on your capital in the 6 month to 1yr period? That'd determine what advice I'd give

Looking at PA on betece, It's been rejected from 34k and is currently testing 32k as support.
I'm looking at 2 options for the bullish case

1. A strong flip of the 32k level which should take it past 34k

2. A breakdown of the 32k level which should make it go down to test the lows at 30k once more or may even wick to as low as 27k before rebouncing. Giving folks another buying opportunity... If this comes, I'd advise folks to leverage in. There is strong demand below 30k. No one can time the bottom and the fact is soon enough, it may not matter if you bought at 30k or 26k

Either way, I'm watching and hoping to capitalise. I'm leaning more towards the second option but not expecting to deep a wick. I also expect altys to hold either way.

Other thoughts?

Jerry59:
Spot on. I really don’t like TradingView on mobile.. tabtrader is the best have seen so far

Yeah... Quite clean... Just that I have my charts and indicators already saved on trading view

In this market, I love being in the right alts. I cannot overestimate the need to be in the right pairs and more importantly to time your entry.

Jerry59:
Limit order you mean

Yeah... But he should learn both limit and market.

Some exchanges don't have limit orders. On exchanges or pairs with low liquidity, I market sell most times once I see the order books aren't too thin

kings11ng:
I simulated buying 50k worth of bitcoin using bank card and bank deposit and I found out that you get more BTC when u try to buy with bank card.. Can anyone explain why it is so?

You're making a simple process very confusing.

This way you're using is the lay mans way of buying and I guess you'd pay a premium on both. Seems it's on the lite version which simplifies the whole process of placing bids for newbies. What you're doing is like going to a market, and giving someone your list (binance here) to buy your items for you.

The price of betece is not fixed and fluctuates second to second. To get the real price, search the ngn/btz pair and you'd see the current market price at that point (like I said, this price is not fixed but an equilibrium between buyers and sellers across all currencies, across all exchanges all over the world).
The market price you see on the ngn pair is the cheapest youd get it on binance at that point in time.

To add, binance is an exchange like a market place. So if you're not happy with the current price or you think the price would drop further, you can place your bids lower. When you go there, you'd see alot of bids placed above and below the market price.

I hope this settles your query

kings11ng:
How do you convert naira to dollars on binance

Not dollars but a stable coin pegged to the dollar. I.e whose value is equal to the dollar and does not fluctuate unnecessarily
Examples are (take the space away)
Usd t
Bus d
Usd c
Dai
Pax.

The most used is the first
To buy, load fiat to your account. Search on the market tab using ngn. You'd see all coins you can trade directly with the naira. Select the stable coyn pairing you want and purchase.

FlyHeight:
100% bro, do you think it’s wise to hoard some of this Polkadot thingy? Thinking of just taking a leap of faith with it , proli 2k worth

My brother it's difficult to say... No one can time the top of a bubble and it's always better to take profits on the way up rather than be forced to sell on the way down. It's in bubble territory now and I'm only interested in taking profits and not long term plays.

I wouldn't advise to get in now... A good area may be a clean break and flip of the 19-20 level or wait for it at a lower level.

After annoyingly selling link early at 13 earlier this year (bought at 4 ish), I was confident to hold dot when it went from 4 to 10.

I had estimated 20 to be a top but the stuff is still showing strength and ready to rip.

There's something about round figures in this market... Most trend reversals occur at round figures. If it crosses 20, then 28-30 is an easy target...

lovinhubby2wife:
Please am I doing this the right way?? I just bought ripple still using it for practice before I go in full time... is this properly placed?

Not to put sand sand in your garri, why not convert ur naira to usdt and trade on binance or you can still trade on Bundle Africa at market price
Fees are cheaper on binance, you can sell asap at market price without waiting and you have numerous offerings. If naira falls, you're not bothered.

FlyHeight:
Majority of folks seem to be in it or seem to want to get into it for magical results and quick profits...

Hehe... Thats normal human nature... People will usually ask if they can buy a coin when it has done 100%. Yesterday was a gift but people were calling for 20k. Same folks would start asking if they can buy when betece gets to 40k

TheZebra:
This is the best analytical analysis I've read here, God bless you sir.

Please Kindly give a brief analysis on ETh too, what time to take profit and what time to buy again, thanks. Current price: $1,260 and i bought at $300

You are x4 already so don't be greedy.

That said, we're at a pivotal part of the market. Betece played out thesame fractal when it first hit 20k. Eith is approaching ATH again which is a good area to take some profits. You can always get in on a break and hold of ATH... It's part of risk management... You bought low so taking some profits to add back when the market is clearer isn't a bad idea.
I believe it'd break ATH and the party would start

Houston17:
OK boss. Na wetin I observe I talk Sha but I'm ready to learn. Can you explain the bolder, like how do I go about that

Setting a market order is straightforward. It's simply setting what amount of your coin you want to sell and at what price.... Tohe best way to get it is by watching a video on YouTube. Thesame principle curs across all exchanges.

FlyHeight:
Baba Mining doesn’t work how you think. Now you need a shit lot of miners to even mine a quarter of what used to be possible, the running costs alone will milk you... Lefs not cap

Leave that guy... He's a low budget scammer.

He should explain any of those and tell us how profitable it's been for him

FlyHeight:
I guess I’d have to come back in 6 months and tell you guys how I did. I am hoarding over 3m in rip to see what the outcome is with their lawsuit. I’m however trading with it daily so it’s not all bad yet but I’m aiming for 200 NGN each, at that rate I’d make over 40% which is fair for Me.

Different traders have different patterns and if you trade it successfully then why not.

I also bought some at the lows and waiting for certain targets. I don't bother myself too much about the news. The TA and PA has alot already. I'm ready to add more tp exrp once it closes a weekly candle above certain targets. For now my capital is best ploughed into other projects

My advice is to new folks who'd rush in because it's cheap. With alts, I don't get married to them. The top 10 altys in the next run (aside eth) might be absolutely different from what we have now. Also people forget that this bull run will come to an endand if your alt hasn't moved by the end, when betece corrects, it'd also dump too.

Houston17:
But I noticed the amount charged via Fiat is much more than that of card. For instance ET eh cost 515k approximately with card but via Fiat it cost 599k

I doubt you're sure of what you're saying.

On binance, if you deposit fiat, you can set to at market price and pay a very tiny sum as trading fee. Buying directly with card wouldn't be cheaper except you're going about it the wrong way

luvlyoracle:
Yea...unfortunately i sold...currently regretting why i sold... I sold when Btc was 29k and bought again at 31500...currently no reserves for REN and ADA
We learn everyday though..
My plan is to leave long term.



At this point my stakes are mostly 40%Link and 40%dot.

20percent Atom


My question now is which of these coins do you think would give high returns so i could withdraw and invest more as am abit at loss currently.

Regarding your coins, I'd say look at certain things.

Dot, is currently the 3rd highest market cap by volume. It's gone from 4 to 20 in under a month. It's in a bubble already. I can't say if this is the top cos it can keep going parabolic, but I wouldn't advise to have 40% of your portfolio in it at this stage. It'd retrace and it's retrace wouldn't be sweet. It'd do that when others are pumping.

I took half of my stash out btw 17-18... I'm watching how it plays with the 20 level... Personally, I don't think there's much steam left in it.

Ren is a sweet one if you're a day trader. It goes up and down anyhow... The 0.5- 0.6 level is now strong demand which it has retested. It should run in the coming days but give it a breather...

Ada... This has moved heavily in the past weeks, it'd still move but don't get stuck on it.

Link- this is the sweetest for me... Clean break of ATH and retest... My worry is that many folksare talking about it hence it's pump may be dalayed... But it'd sure move and when it moves, it moves.

Finally if youre here for the long term, why are you not in eith? Hope you know it'd perform all these you listed aside betece in the long run. Once it breaksATH and moves, then going into other smaller altys would be free money..

That said, betece has had a major move, it's unlikely to be a V-reversal. It should take sometime. It needs to consolidate a bit, and you can't tell how altys will behave... So far they've done well, but if it shows weakness, they may drop further

luvlyoracle:
Yea...unfortunately i sold...currently regretting why i sold... I sold when Btc was 29k and bought again at 31500...currently no reserves for REN and ADA
We learn everyday though..
My plan is to leave long term.

At this point my stakes are mostly 40%Link and 40%dot.

20percent Atom

My question now is which of these coins do you think would give high returns so i could withdraw and invest more as am abit at loss currently.

Oops... Buy high, sell low. You literally sold the bottom..you remind me of myself when I started. How are you sure betcoin will not give u another chance to buy at 29-30 in the coming days?

That's why I advise folks against day trading. If you're not skilled, you get caught in that trap if you don't see the big picture.

You made at least 5 mistakes which are
1. Panic sell- self explanatory. This is very different from cutting your losses when things don't go your way. That is risk management while this is giving your money to the market

2. You sold into support- in this space, never sell into support moreso a very strong one. If you want to sell, do that after it's lost support and confirming it as resistance.

3. You followed the crowd- in this space, market sentiment is key. It almost never fails. The majority are ALWAYS wrong at the extremes of a trend. They may be right when the trend is in play. There are people I follow on Twitter to guage market pulse. Once I log in and most are saying eith will pump, I just know it wouldn't. You should profit from the sentiment and not be the sentiment others profit from.

4. You buy on red days not sell. This is tricky so you don't try to catch a falling knife. Betece doesn't dump 10-15% everyday. Ask yourself, how much lower can it dump before you panic sell... Like I said b4, a proper dump will not give u the opportunity to sell once the trend changes... You'd see what I mean soon.

5. You didn't see the big picture- that's why most early day traders are eaten up by whales. Some new folks here just buy blindly, hope it goes up so they sell. That's the second easiest way to serve yourself as dinner in this space. Nothing moves up or down for no reason. To profit from the volatility, you have to have know where and at what level it's likely to move up or down. The first is trading leverage without risk management.

The big picture is simple.. between 20-29k is a support cluster. There's 28k, 25.5k, 23k and 20k. These would all be tested one after the other in a drop and it can bounce at any of them before continuing down. If you had this in mind, you'd see that selling at 29k wasn't sensible.. cos even if it continued to 25k, it'd likely bounce back to 29k before continuing down.

Don't feel bad about it. We all make mistakes.. the issue os not to repeat them.

luvlyoracle:
bought at 0.65

Your ren, link, dot and ada should be back at breakeven or close to it. You see the reason why one should not panic sell or panic buy...

The question is what do you plan on doing now?

MasterGift:

Another trash....

How long have you guys been blindly following this pi network?

It's because of folks like you that discussion on crypt0 were banned here for a long time.

solreb:
There are so many HYIP (high yield investment platform) like this that promises 3% daily which are all scams. I lost more than $1000 in 2013 on several of them before I learnt my lessons. My advice is to run away from any of such investments to avoid stories that touch!

The annoying thing is that the hyip guy keeps jumping around luring folks into his trap for a 1 dollar referral bonus. Just imagine.

He claims to have made betece from over multiple sources but ask him to expatiate on one of those sources and how he's profited and he goes mute.

There are knowledgeable folks here. If one wants to sponsor a fraudulent scheme, he should respect us and at least not be kindergarten about it.

kings11ng:
Same thing that happened when I bought 5k worth... I was charged 8k

Most exchanges charge a premium when you buy with a card. Such charges are stated clearly.

For Binance, why not fund via a bank transfer

Jerry59:
Okay thanks i use trading view and tabtrader

Trading view is great on a PC... Not so muchon the mobile app.
I haven't used tabtrader... I'm looking for a sleek app on Mobile. I'd check out their mob app and see