Ok - so I'm a total noob at cryptocurrrencies.
But I thought it might be something I should get my head around.


My understanding t the moment -
To do anything - I need a wallet. I'm thinking Electrum - which seems to be reviewed as OK.

Then I need to get some value into it - I think this means buying some BTC. (can I buy something else directly and add - litecoin etc)

I think this means an account with an exchange - transfer funds to them and they transfer BTC to my wallet .?

Once there is value in the wallet - then I can jump in and out of the various other currencies.

When I make a killing - getting some value out of the wallet - is via a BTC sell via an exchange dealer to my bank account - and this is where the sharks circle with the fees etc.?


I know you guys are the heavy hitters - is there anything fundamentally wrong with my understanding above??

(I'm only going to dick around - maybe $1K AUD at first - and I do understand it all could disappear - and am comfortable with that)