Bitoin / lumens advice ( Coinbase, Binance and Kraken, BRD )


#1

As it’s the Off Topic Corner, I though I could take the chance to ask my Elive’s friends some advices.

I never took time to understand blockchain, cryptocurrency and all that. Even if I am a technology and curious person.

But recently (never too late) starting reading about it.

I was offer a 2$ USD from Stellar / Keybase.io and as I was already using Keybase ( for ncrypted Chat and free Data storage on the web) I accepted the gift and now have a Stellar account with 20 lumens ! I am rich!

I then understood stellar is not about anonymity and it’s ok.

My question :
If I want top open a bitcoin account in case I need anonymity, from which provider / platform would you buy it ?

some experienced person, that I don’t know told me : Try Coinbase, Binance and Kraken

By son told me BRD ( well known and easiest one)

Which one should I use ?

Yoda
NOte : as for my Stellar Lumens account, it seems that large corporation are using it to move money in/out from/to other countries but do ends users/simple individual uses lumens ? Are there a lot of online stores / companies accepting that as a payment method ?


#2

first, blockchain is a techonology, more specifically a “concept”, is a way of work / manage a software

stellar or bitcoin are “coins”, a digital form of “money”, in fact they are nothing, just numbers assigned to one or each person, when you have them you have just numbers, and only you can manage them

you need to be very cautious with these three things:

  • coins: they uses a techonology, the most trustable one is bitcoin (hardest to hack, and bigger confidence in their creators), nothing guarantee you that it can cost nothing tomorrow (so losing all your money you paid for), or to value much more (this already happened before but 2018 is not a good trading time), this is a very complex thing because the creators of the software has the full control of it, they can have leave an intentional backdoor and it can be hacked in the future, or they can change some algorithm that can open a hole in security, etc… bitcoin is the most trustable one because is made from the community and you should trust on that, but there’s more than the 80% of the coins that are just fake things to dump money from the users
  • buying them: you normally buy them from an exchange, like binance or kraken (better this last one), and you believe on that this website (exchange) is not hacked (it conitnuously happened a lot of times, most of them losing peoples money)
  • send your coins to your own wallet: you can use jaxx from the phone if you want to make fast transfers, or install electrum software which is your personal wallet, then you need to trust on you, your password, your computer, from where you downloaded that software, and the authors of that software… instead of a remote website that manages your money (exchange)

The question is: what do you want exactly? lol

lumens are nice, very fast to transfer and minimal fees, the only problem with all the crypto coins is their volatility, so your 100 $ can cost 10 $ in a month, or you can double it… in other words, do not put any money on that unless is money that you can lost


#3

Tks for the complete answer !
:happybounce::happy_dance::hot::shocked::runaway::rofl2::applause: