Topic: Advice to buy bitcoin, i am new in cryptp..many doubts - page 2. (Read 352 times)
Well you can buy or invest in bitcoin of money in which you can afford to lose. There is no need to worry about bitcoin scam concept in my opinion. There are many here that can attest that investing in bitcoin might be good. However, if you wish to earn then buying later part like when market is low and then sell when market is high. Bitcoin can be one of the best form if investment but with its risks you should do your own research.
You have to start slowly but in a good movement.
Bitcoin's Whitepaper
[General] Bitcoin Wallets - Which, what, why?
You should choose non-custodial wallets that help you have control on the keys or mnemonic seeds of your wallets. Most of crypto exchanges only give you custodial wallets that you should not use. With custodial wallets, the keys or the seeds are hold and controlled by exchanges, not you. If they want to run away (shut down or scam exit) or their exchanges are seized by governments, your bitcoin is lost.
Learn to verify wallets:
Verifying Bitcoin Core
How to Safely Download and Verify Electrum
Download non-custodial wallets
Bitcoin Core: https://bitcoin.org/en/bitcoin-core/
Electrum: https://electrum.org/#download
Verify wallets and store your bitcoin on non-custodial wallets if you don't want to trade bitcoin. Never store your bitcoin on exchanges if you don't trade it.
Electrum (SPV) is lighter and easier for you to use.
Bitcoin's Whitepaper
[General] Bitcoin Wallets - Which, what, why?
You should choose non-custodial wallets that help you have control on the keys or mnemonic seeds of your wallets. Most of crypto exchanges only give you custodial wallets that you should not use. With custodial wallets, the keys or the seeds are hold and controlled by exchanges, not you. If they want to run away (shut down or scam exit) or their exchanges are seized by governments, your bitcoin is lost.
Learn to verify wallets:
Verifying Bitcoin Core
How to Safely Download and Verify Electrum
Download non-custodial wallets
Bitcoin Core: https://bitcoin.org/en/bitcoin-core/
Electrum: https://electrum.org/#download
Verify wallets and store your bitcoin on non-custodial wallets if you don't want to trade bitcoin. Never store your bitcoin on exchanges if you don't trade it.
Electrum (SPV) is lighter and easier for you to use.
If you want to buy cryptocurrencies, you need to comply with the relevant policies for cryptocurrencies in your country. The next thing after buying cryptocurrencies is to learn about Bitcoin and blockchain technology, learn about the charts and laws of the market, and follow the instructions in transactions to trade securely.
Certainly this is agreeable. Before engaging or deciding to buy Bitcoin. First do a background check about the policies that is existent in your country to avoid trouble concerning legal matters because there are certain countries that already have existing legal policies concerning cryptocurrency usages to protect the welfare of their people. By doing this, you can also know what exactly your country stands about Bitcoin and other cryptocurrency as well. After knowing that, now learn from the basics before you decide on purchasing Bitcoin. You must know first basic information you must know about Bitcoin so you can effectively make use of it once you have already purchased it. Buy only on trusted exchanges and avoid strange or newly established exchanges for your own safety. Better secure yourself on engaging first on well-known exchanges that suits your preference since you are just new in the industry.
thanks for your answer, probably i have to check with my bank if it is crypto friendly. My point is...i live in Dominican Republic and for example Binance and Blockchain.com are accepted in this country (Coinbase no, or better accept Dominican Republic just to convert crypto but no deposit and no withdrawal). I do no want to use my banks here in Dominican Republic to transfer ecc. because the fees (if i want to transfer Usd) are huge. For that reason i would like to use an account in Citi Singapore, because the fees are minimum (in the past i lived in Asia). For that reason i would like to use that account to buy ecc bitcoin. If you have some idea please feel free to comment
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Just a few minutes ago, @womanderful started a thread on my/our local board on the matter (see Mover dinero entre bancos y exchanges). The context is currently Spain, and does not currently seem to extend to other latam countries, although anyone is welcome to chip-in in Spanish, regardless.It’s seemingly difficult to create an updated list of people's experience that crosses the bank name on one axis, and the experience to/from a given Exchange on the other. First, there’s the issue of the sheer low volume of people on my/our local board. Then there’s the privacy concern to come forward with the experience, and then there’s the varying result for people transferring to/form a given
One should probably resort to consulting with the bank itself to make sure they won’t have any issue with to/fro TXs with a given Exchange. If there’s written proof, all the better. Nevertheless, not all bank personnel are likely to be well informed, so I’d try to contrast in addition with other people using the same
This depends on your bank. It would be good if you check with your particular bank, try to get their rules and regulations on crypto currency. Contact with their customer support. As you are in country where BTC is legal, I think it should not be an issue with any bank.
One of the best things to be done is to know about the regulation or the reputation of bitcoin or crypto into your country and also banks are mainly attached to it neither they do accept such transactions or do prohibit.
Just like into my country where there are banks that do really prohibit on attaching transactions with crypto and once you have caught then youre account neither
would be on hold or you would need to face and give out some explanation on where those funds came from.
When it comes to exchange and since op do live on America then Coinbase would be the best place.
sorry if I am wrong
The point that I got is, first you want to buy crypto with the balance in your account, but you are afraid that the account will be locked because the bank in your country does not allow exchange with crypto.
second, what if you create an account in ASIA, then do a crypto exchange, because banks in Asia allow exchanges with crypto.
means the solution is you have to find a bank that supports crypto exchanges. and that means you have to create a new account.
Second, if you create an account in Asia, that means you have to go to Asia first, and create an account there.
I thought it was too complicated. Aren't there currently crypto exchanges that use fiat money directly, for example, try to buy it from a closest friend, then send it through the exchange wallet you are using.
I think it is quite effective to avoid things that are not allowed in your country.
The point that I got is, first you want to buy crypto with the balance in your account, but you are afraid that the account will be locked because the bank in your country does not allow exchange with crypto.
second, what if you create an account in ASIA, then do a crypto exchange, because banks in Asia allow exchanges with crypto.
means the solution is you have to find a bank that supports crypto exchanges. and that means you have to create a new account.
Second, if you create an account in Asia, that means you have to go to Asia first, and create an account there.
I thought it was too complicated. Aren't there currently crypto exchanges that use fiat money directly, for example, try to buy it from a closest friend, then send it through the exchange wallet you are using.
I think it is quite effective to avoid things that are not allowed in your country.
Search using https://www.buybitcoinworldwide.com/ You will find a lot of platforms that you can use, but most of these platforms are centralized and you need identity verification.
You can use centralized platforms such as LocalBitCoin, which make you find people to buy or sell currencies while providing the site offer escrow to ensure that fraud does not occur.
you can use both of them if your country supported by them. yo can ask support for more information
You can use centralized platforms such as LocalBitCoin, which make you find people to buy or sell currencies while providing the site offer escrow to ensure that fraud does not occur.
you can use both of them if your country supported by them. yo can ask support for more information
Somehow that has to be true. There were experiences that I've read before that have a bias bank towards crypto and if they have found out that you did a transaction through cryptocurrency, they might actually lock your account. That was based on those experiences shared that I've read. But it can also be not particular to your bank.
you have to be careful about two things as you start.
first is the place you want to buy bitcoin from, aka the exchange. google its name and try to find feedbacks about the service you want to use. you can also start a topic and ask about inputs here (since you didn't mention any exchange name). there are a lot of scam exchanges.
secondly be careful about what you buy. you want to buy bitcoin only and not "crypto" as you keep saying. in fact as a beginner you should stay away from everything else. there is a lot of scam altcoins with high prices and false promises too.
first is the place you want to buy bitcoin from, aka the exchange. google its name and try to find feedbacks about the service you want to use. you can also start a topic and ask about inputs here (since you didn't mention any exchange name). there are a lot of scam exchanges.
secondly be careful about what you buy. you want to buy bitcoin only and not "crypto" as you keep saying. in fact as a beginner you should stay away from everything else. there is a lot of scam altcoins with high prices and false promises too.
This depends on your bank. It would be good if you check with your particular bank, try to get their rules and regulations on crypto currency. Contact with their customer support. As you are in country where BTC is legal, I think it should not be an issue with any bank.
If you want to buy cryptocurrencies, you need to comply with the relevant policies for cryptocurrencies in your country. The next thing after buying cryptocurrencies is to learn about Bitcoin and blockchain technology, learn about the charts and laws of the market, and follow the instructions in transactions to trade securely.
Hi to everyone,
I just want to buy some crypto. I live in Central America so i found some crypto exchange that can accept my country. However i red in many posts in internet that some banks not allowed to buy crypto with cards or banking transfer as well some banks do not accept deposit if the money comes from a crypto exchange etc. (when you want to withdrawal ..cash out) Is it true? For example i have a bank account in Asia with Citi and i would like to make a banking transfer to an exchange to buy crypto. Do i have to ask to the bank if i can do it? Many exchanges accepts payments by credit/debit cards or banking transfer; so i do not understand if my bank can allow me to do the banking transfer. HELP ME PLEASE..any advice is very appreciated.. In youtube you can see people that easily to transfer or payment to cryptoexchange with cards or banking transfer.. but are there any problems? I do not want that my bank can lock my account to do so.
I just want to buy some crypto. I live in Central America so i found some crypto exchange that can accept my country. However i red in many posts in internet that some banks not allowed to buy crypto with cards or banking transfer as well some banks do not accept deposit if the money comes from a crypto exchange etc. (when you want to withdrawal ..cash out) Is it true? For example i have a bank account in Asia with Citi and i would like to make a banking transfer to an exchange to buy crypto. Do i have to ask to the bank if i can do it? Many exchanges accepts payments by credit/debit cards or banking transfer; so i do not understand if my bank can allow me to do the banking transfer. HELP ME PLEASE..any advice is very appreciated.. In youtube you can see people that easily to transfer or payment to cryptoexchange with cards or banking transfer.. but are there any problems? I do not want that my bank can lock my account to do so.
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