Blockchain (Bitcoin, Litecoin, Ether, Ripple etc)

alan280170

Software Engineer Buys 20,000 BTC in 2010, Quits Job to Travel Around Globe

HCK

The popular exchanges are Poloneix, Bittrex, Coinbase, Bittfinex.  The security issue with exchnages is that you are using their hosted wallets and as such can be prone to being hacked etc.  For example the exchange gets hacked your funds are up for grabs, as the exchange has access to your account.  Also internal employees could also be malicious.  This happens rarely but just to make you aware of the risk.  

The best option is to trade on them and then send to a cold wallet or offline storage.  There are hardware wallets such as Tezos and Ledger Nano S.  Before investing do your research thoroughly and get tips off sites etc.  

Regarding paying out you would need to either send to your bank account via wire transfer from the exchange or use a site that buys cryptocurrency off you.

Synchro

I use coinbase

alan280170

Yeah I have been on their site, looks like a good one (well by the slick site it does).

Do you pay in GBP and they exchange it into USD,  and vice versa for buying and selling?

Synchro

I add funds in GBP then buy coin, which is priced in GBP.

QuestShield

I would recommend not buying any crypto until near end of this month as worries about the Bitcoin fork on August 1 is causing the market to drop. End of July could see excellent buying opportunities.

Synchro

Lots of press about the upcoming Bitcoin soft fork.

Synchro

Litecoin already runs Segwit.  My money is on that.  The opposite view to all the major miners...

QuestShield

Against my advice a friend of mine invested all his life savings into different crypto currencies over the last week or two.

He's already down 5 grand.

Synchro

Oh dear.  Too risky for me to consider any thing like that level of investment.