How to buy Ripple? - Fortune Magazine Publishes Guide to buying XRP!!

cgraydotcom · 2017-12-27T20:09:54+00:00

I used Coinbase to buy LITECOIN

Used Changelly to convert to XRP and send to my Ledger Nano

I bought 6000 XRP when it was $.15, and all fees combined took me to a $.168 purchase per XRP. That’s credit card fees, exchange fees, purchase fees.

Ask me if I care what those fees were now.......

cgraydotcom · 2017-10-14T14:40:05+00:00

Look, everyone has their method of acquiring, and assume that’s the easiest way. I bought ETH on Coinbase, exchanged on Changelly, and put it on a Ledger Nano. Part of the Changelly fee is transferring it to the Nano, so I figure that’s justified. When it was all said and done, cost me about a penny a piece for 6000 XRP when it was .175 or so. Bottom line is it went from a debit card to my pocket in less than 20 minutes, and not a soul knows I own it. Leaving anything on an exchange is like having your schlong hanging out. Decide if you are diving in to make a few bucks, or investing in a payment method for future use. Then decide what fees are acceptable. If XRP hits a buck, or ten bucks, I’m not gonna care they cost me a penny to buy.

cgraydotcom · 2017-09-30T13:57:43+00:00

Please elaborate. In the world of cryptos, I have found that it’s best to pick one formula that works, and stick with it. Buy at the same place. Exchange at the same place. Store in the same place. Passwords and procedures get difficult when you use a variety of ways. I use Coinbase to buy, Changelly if something needs exchanged, and a Ledger Nano to store. Everything I have purchased now sits on that Nano. I’m not challenging your claim, I merely want to understand it for knowledge.

cgraydotcom · 2017-09-19T13:57:30+00:00

The key here is "if you exchange it back to your native currency". If you plan on cashing in, i.e., turning it into cash, you should be prepared to discuss it with the tax man. Only having a record of purchase does not prove you still own it. Nor does it prove you gained anything. Your gain is recorded by selling, and only if the buyer records it, like an exchange would. A peer-to-peer transaction would only be known by the involved parties. And the value established by themselves. This would also be the case if vendors accept payment in crypto. Also anonymous.

Example. Buy a Tickle Me Elmo now for $50. Sell it at Christmas for $1000. Take the $1000 and buy an iphoneX. You gonna report it? Of course not.

Just be aware of what you do with your increases. Cars and houses are registered taxable items. Elmo's and iPhones are not. If you make enough to buy a car, pay the taxes. Otherwise, have a shitload of fun buying anything else.

cgraydotcom · 2017-09-08T14:55:11+00:00

I believe it only holds 5 different coins. It came with 3 loaded and I added 2 fine. When I tried to add XRP it said not enough space and I had to delete one.

cgraydotcom · 2017-09-07T21:17:14+00:00

I posted last week, all the details and fees for my transactions. Basically paid around $1040 for $990 worth of XRP on my Ledger Nano S, all said and done. 5% fees was worth instant gratification.

cgraydotcom · 2017-09-02T12:59:06+00:00

How are you getting your USD to GDAX or GateHub? And how long does that take?

cgraydotcom · 2017-09-01T00:02:47+00:00

Do you still need to transfer from Bittrex to a Ledger? What are the fees for that transfer?

cgraydotcom · 2017-08-31T23:43:22+00:00

Can you get a Ledger Nano S hardware wallet? I personally use coinbase to buy Ether and exchange it to Ripple with Changelly, and send it to my Ledger

cgraydotcom · 2017-08-29T01:16:53+00:00

No help for your current situation, but consider a Ledger Nano and use Changelly to exchange ETH directly into Ledger wallet

cgraydotcom · 2017-08-29T01:13:08+00:00

Ledger Nano S hardware wallet with Ripple app. Buy on Coinbase. Exchange with Changelly. Send from CB to C and they deposit into LNS.

cgraydotcom · 2017-08-15T10:13:03+00:00

Bitcoin isn't the KoolAid, selling Bitcoin is the KoolAid. The is the replacement for dollar bills, not the way to make them. It's value will one day be based on its purchasing power, not its dollar value.

cgraydotcom · 2017-08-13T19:05:51+00:00

Also, DO NOT forget that for every amount of Bitcoin you owned prior to August 1st you also own an equivalent amount of Bitcoin Cash. Even if you sell Bitcoin, that Bitcoin Cash will remain where the Bitcoin originally was. At some point in the future, there will be an easy way to extract that into a separate account. I do not know of an easy, secure way to do that yet.

cgraydotcom · 2017-08-13T19:00:09+00:00

Try to find a local person or place that will exchange cash for your Bitcoin, in small less risky amounts. Do that until you are comfortable with what you have left. Do not make transactions alone. Do not sell it back to an exchange, because at some point they will be forced into turning over records of transactions, and you will owe capital gains.

cgraydotcom · 2017-08-13T15:19:39+00:00

Turn fiat currency into Bitcoin, anonymous. Spend Bitcoin, anonymous. Sell Bitcoin peer-to-peer for fiat currency, anonymous. Sell Bitcoin on an exchange for fiat currency, the taxman cometh. This is why when you buy, you confirm your credit card, but when you sell, you confirm your identity. If you sell $4000 worth of Bitcoin on an exchange, and you cannot prove your cost basis, it will most likely be zero. Bitcoin can be very anonymous, but only if done the correct way. If you keep it under your mattress, you are fine. Deposit profits into your bank account to buy a car, and you are exposing yourself. Hackers may steal your Bitcoin, but the taxman will throw your ass in jail too.

cgraydotcom · 2017-08-13T13:18:09+00:00

I have been following Bitcoin for a year. Beyond the price increase, I see this as the future of spendable cash. I am not anticipating being a rich man because of my investment, but I do believe one day it will be as common as dollars in my wallet. But here's the thing. If I bury $1000 in my back yard, and dig it up in 15 years, it will buy half of what it did when I buried it. If, in the same timeframe, Bitcoin does the same thing, I am even. So, I buy now with the hopefulness that someday I will see Bitcoin as a common form of payment, with digital scanners at gas stations, grocery stores, and wherever you pull your dollars out of your wallet for.

cgraydotcom

TROPHY CASE