Please, I need some help with Stellar, this is very serious for me

Norbie

I have been trying to get some important information from an Administrator or an older member of the stellar community but so far I got nothing. I am ready to invest in Stellar but I do not have all the knowledge to do it with confidence I mean, all the process that goes from the beginning where I have ready to invest my money in my credit card or bank account up to the end, where I am going to store the Lumens in a Hot wallet in my laptop or a Ledger Nano S or even sell it a week later. I have some "fractionated" knowledge that I learned reading here in other places online and watching Youtube videos but I cannot find a good webinar (perfect and logical if coming from Stellar team) or a serious video training. Could somebody give some directions about where to get that knowledge? Thank you very much in advance, I appreciate your help. Norbie

jamie

It would help if you said what country you're in. In another thread you wanted to know how to buy lumens step by step but you never mentioned where you even are.

Norbie

I am sorry, I am in California, USA

Norbie

Dear Admin, thank you very much for your reply. I understand that "the whole process" explanation is going to take a good hour or hour and a half and I do not pretend to ask you for such a long explanation. My point is that I am ready to put money into the Stellar Lumens, Why Stellar do not provide a section in his website with a solid 90 minutes webinar for people like me? I am sure that any young kid associate with the company will be more than happy to create a good webinar explaining in detail all the process and the most common mistakes the people do when tray to buy, sell and store Lumens. Why nobody think about that in Stellar? Now I am here, almost desperate, ready to put some money into Lumens and I can't, because so far I see that what I call "the whole procees" takes several steps in different websites and even the people with some knowledge lose the secret keys for erroneous operations, etc. If that happen to a person with some experience, it is very scary for a person like me that have a partial knowledge of the "whole process". That is the reason why I am so amazed that the company do not provide a free and solid training for the people that want to put money on it. Just to give you an example: Go to TD Ameritrade website and you will find dozens of 1 hour videos explaining you every single aspect of investments and the work with the most advance trading platforms they have Why they do that? It is simply logic: They need you!

jamie

One potential way:

Buy bitcoin on coinbase Send bitcoin to kraken On kraken exchange your bitcoin to stellar Withdraw that Stellar to your own wallet (I'd recommend a ledger Nano S)

Norbie

Thank you again Admin. I knew more or less that what you are telling me is "the flow" of the process. Actually, I was thinking Coinbase-Poloniex-Nano S procees but looks to me that you preffer Kragen and that is perfect. Now, one thing is to know "the flow of the procces" an another very, very different is to do the procces described in the flow with all the steps, warnings, possible mistakes (even posibilities to lose your money) and to complete that with 100% of succeess. What happen is that if you are going to invest $3,000 of your hard earned money in Lumens you do not want to lose it because you made a mistake with one of the systems as a result of your lack of knledge. I watched sevaral videos and the spteps to trasfer the Lumens from Poloniex to the Stellar block chain or the Nano S wallet (I am very lost in that arear) is not that easy for a person that never did it. It is very hard, it is to me something similar that if you try to remove the appendix of your son with no medicine studies or surgery studies, just that somebody is telling you "the flow" of the proccess. Do you understand my point?

Norbie

Sorry for my spelling mistakes, I am working and trying to participate in the post comments at the same time.

jamie

I understand your point to a certain extent but I reckon you need to be more specific if you want people to help.

There's hundreds if not thousands of ways you can mess something up when it comes to cryptocurrency and it all depends on so many factors.

I'd recommend reading this though :

https://stellarcommunity.org/t/5-tips-for-storing-and-sending-lumens-safely

You seem very worried about making a mistake which is good. Why not start the process with a small amount of money like $10 and see how it all works before putting in all your money? At least then if you do make a mistake it won't be too bad.

Norbie

Thank you very much for your help Admin. Being more specific, this is in my opinion the area in the one I am not very clear about it: 1- Correct me if I am wrong but looks to me that in Kraken I can transfer money from my bank account to buy directly in Kraken Lumens but I won't be able to do the same thing in Coinbase, where I need to transfer the Bitcoins or Ethereum from Coinbase to Kraken, Poloniex, Binance etc in order to buy the Lumens. It's that right? 2- Once I bought let's say 10 Lumens in Kraken or Poloniex exchange, What are the specific steps if I want to have store those 10 Lumens in a Ledger Nano S? 3- Instead the Ledger Nano S, could I store my Lumens in my Laptop? if yes, How or what program I can use for it. 4- What about if the Lumens increase the value up to 300%. How I take my 10 Lumens from the Ledger nano S or my laptop and sell them back to the Market? Thank you in advance for your help.

MrFlyinw

I found this link to cover all cryptos and I used it for Stellar and had no issues. The only nail biting time is the transfer from Coinbase to the exchange.

https://getcrypto.info/?_ga=2.155296636.61672418.1515375247-611284341.151441399513995

Norbie

Thank you very much MrFlyinw.

b3no

The problem is that there is no way someone can guarantee you a 100% success rate. There are so many things that can go wrong:

Coinbase not verifying your account for months. Coinbase not receiving your bank deposit and taking 3 months to respond to your ticket. Poloniex refusing your withdrawal and never answering to your requests.

I hear every day of hundreds of people that did everything right, but still didn't make it. Just be careful, this is still the wild west.

I would recommend you never take the Lumens from the exchange. Most exchanges like Kraken are much better than you at dealing with security. It's also easier to sell them if you have them directly on the exchange.

cryptocrazy

Hello Norbie, You will have a Wallet to send it to at any exchange and sell it. It is very easy to do, have you ordered a Nano S yet? They don't come very quickly as they are the best way to store the Cryptocurrency.

ROBERTK

This is an intersting discussion. I also have never purchased any type of bitcoin. I want to purchase stellar and I have to agree, it is way more complicated than trading stocks on eTrade. I tried to open the Step by step guide MrFlyn suggested and I got a watming that it was a fake site trying to steal personal info and I should close the window immediately. It seems like its even dangerous chatting on here.