One more question though, is there a platform I can use to trade these currencies? And if there is, which would you recommend?
Hi Jamie,
Dan Remy

Hey Dan,

I’m pleased to hear my article has helped.

Once you’ve bought BTC or ETH, the trading platforms I would use to day/margin trade are Bittrex (bad UX, but generally reliable) and Kraken (passable UX, but a smaller range of tokens to trade). Gemini comes highly recommended but I’m yet to try it personally. Steer clear of Poloniex and Bitfinex.

The said, trading such volatile ‘stock’ on an ongoing basis is a risky business. I’ve been burned numerous times by delayed deposits and withdrawals (effectively frozen funds), exchanges becoming unavailable (Poloniex is regularly DDoS attacked), and even having my money stolen in exchange-wide breaches (Bitfinex).

My advice is to buy and hold tokens that meet the following criteria:

  1. You fully understand their Blockchain model/tech.
  2. You believe in their Blockchain product, would use it yourself, or know people who would.
  3. They have a reputable team working on it.
  4. They already have good support from community and/or industry (depending on whether they’re enterprise or consumer focused).
  5. They’re demonstrating a commitment to good user experience (if their product is an interface).

Some projects that have met this criteria for me are Ethereum, Golem, Aragon, and I’m giving Stratis some good thought right now.

Good luck, and to reiterate, only ever trade what you’re willing to lose.