These are my opinions..
Crypto Wallets:
I've used a few software wallets including Enjin, Etherum, Keplr, Opensea, Exodus. Exodus works best for me. As they say coins on any exchange are not yours, put them in a wallet.
Exodus wallet - Free software wallet with a a few APY options.
https://www.exodus.com/
Crypto Exchanges:
You will have to submit photo ID etc. Trading in cryptocurrency is a taxable event must be reported.
Coinbase - Simple and easy to use. Offers Coinbase pro where you can actively set buys and sells. Has higher trading fees that scale down as your volume of trades increase. Very good choice for beginners. Offers a few APY's on coins held. Will be offering a debit card soon.
Binance - can only send funds in crypto not cash. For medium to advanced users. Overall good experience. Their BNB currency had a good return (APY) and could be used to reduce trading fees.
Kraken - Terrible! Avoid at all cost. It took me months to get my funds out. Their "pro" trading app is wonky and will give you errors if you change your buys or sells too often. Several times the site went down during key trading periods costing me a few bucks. They did reimburse me for their site going down which was nice.
Crypto.com wallet with an exchange. I noticed their crypto purchase price is at market rate but when you sell it's $.03 or less than market rate. Offers a debit card if you hold enough of their currency. Also spend in their currency. Customer service has not been good. Their phone app is a little slow and wonky.
Nexo wallet with an exchange. I will be avoiding due to being located in the UK and a policy of when your account reaches zero they will automatically take out a loan on your behalf. Good APY on some stable coin, if you hold their Nexo coin they offer a once a year dividend payment.
Cryptocurrency:
BTC Bitcoin is slow to send. The only thing going for BTC is it being the "Coke" of crypto. Being Coke may just be enough. capped at 21m.
ALGO - Fast transmission. You don't have to lock in a stake to collect an APY (Coinbase offers 6% APY), I hear it's now being used for NFT purchases. 10b cap. In my opinion I'd grab some for $1 or less and HODL (Hold).
XTZ Tezos Ok transmission speed, a little confused about the direction of the project. I believe the total amount is uncapped.
ATOM - Cosmos lof of buzz about development on this project. Had a good APY that is decreasing. Exodus wallet has a 30day staking, Coinbase doesn't but has a lower 5% APY. I believe uncapped.
XMR - Monero privacy based. I think it's uncapped.
MKR - Governance tied to stable coin DAI. Capped at 1,005,577!
Lot of shit coins out there. Readup on them before investing. I prefer capped coins to hold as the total amount can't go up causing deflation in price. For a spending cryptocurrency I'm waiting to see who replaces the dollar. "How many doge for this coat?"
Trading vs. Speculation:
If you want to make informed buys learn Trade Analysis and mark up a chart at Tradingview for free. Sometimes my TA is so precise I've bought coin lower than the reported daily candle low. BE VERY CAREFUL of following other people's charts. Learn from their strategies then do your own analysis.
Live quotes, stock charts and expert trading ideas. TradingView is a social network for traders and investors on Stock, Futures and Forex markets!
www.tradingview.com
Read up on trading tactics. Experienced traders know how to read and follow trends.
Disruptions in stock patterns are known as gaps. Learn how you can earn money by analyzing these disruptions in normal price patterns.
www.investopedia.com
This guys a little dopey but his advice is correct and it's easy for beginners to understand Swing Trading:
Observations on the crypto market:
I've watched all crypto rise and drop in price. Many suspiciously raise and drop almost exactly the same at the same intervals. I've noticed 2 distinct patterns many of the crypto I watch fall under. One group follows BTC's trends. There is a season for prices so wait for the right time of year to buy. Do not FOMO (Fear of missing out)! We may be hitting a buy period in the next couple days to next month. You'll know it because everyone will be freaking out saying the market crashed.
*Not trading or financial advice. For entertainment purposes only.