Topic: Another newbie with a load of questions!! (Read 354 times)

Some additional resources for you to consider...

This site does a good job allowing you to sift through the different option, but it likely doesn't have all the wallet options: https://bitcoin.org/en/choose-your-wallet

Expanding on the comment that "No" there aren't any exchanges that list all currencies. But if you have to use different exchanges to trade different sets of currencies (because most exchanges deal in a few cryptos and not all), there is an app called Crypto Trader that provides current prices of a wide variety of cryptos which would allow you to monitor where to make your trades. Crypto Trader offers prices based in fiat and crypto currencies across Bitfinex, Kraken, GDAX, Btce, Okcoin, and Poloniex exchanges.

Good luck!

If you bought 2 Bitcoin and withdrew them all at once from the exchange, they would arrive as 1 transaction on your withdrawal address.

"Upload" is the wrong word. You'd have to import your private key in to some kind of wallet to spend stuff from it. Paper wallets are not the only form of cold storage.

There are such wallets, but i would not recommend them.

Particular wallet per particular currency.

There has been no need to update it for now.

There is no setting up. You install and run. Addresses and private keys are automatically generated. Use Google.

This question does not make sense. There is no such thing as "paper status". A paper wallet merely refers to a Bitcoin address + private key printed on paper / not available on any other storage.

Correct.

No.

Stay away from Poloniex and Coinbase. Try Bitstamp and Kraken.

The same as it is to transfer fiat to Bitcoin.

Hello all, please be gentle with me!
I am (annoyingly) new to Bitcoins. Like many others I attempted to get involved with Bitcoins 3 or 4 years ago but the barriers in getting access to them and subsequent storage put me off. Now, I wish I had so am determined this to try and make some progress.
My ultimate aim is to try and generate a portfolio of coins which I will hold for the longer term. The amount of money I intend to invest is not going to be huge, it may at this point in time amount to around £2000/$2500, but it could (but I'm not holding my breath) be significantly more than this in the years to come. With that in mind I am trying to figure out a way to get my self setup properly now to protect for the future.
I guess my main questions are around Wallets and Exchanges:

Wallets -
I can see there is a sticky describing the various types of wallets. My feeling is I would tend towards cold storage. But as I have not purchased any bitcoins as yet, i do not know how it would present itself. If for example I purchased 2 bitcoins (or any currency for that matter) does it appear as 1 transaction. So for example, if I put these coins in Paper Storage, would I need to uplaod these coins to online wallet to carry out a transaction with them or am I able to only upload say 1 bitcoin or half a coin as I wish?

Can multiple currencies be stored in the same wallet? Or to put another way, can any wallet hold any currency or do you need a particular wallet per particular currency?

I am not sure how often the sticky is updated but have the recommended wallets changed at all since the sticky was posted.

Is there a WIKI for novices which explains how to go about choosing a wallet and then how to set it up (private keys etc) and then how to use it?

Is there a wallet that I can use online (say desktop) but can then withdraw the contents into an offline/paper status?

Exchanges:
These seem to be a minefield! I am UK based and am looking for a trusted exchange that can I join to participate on. It appears that not all exchanges list all currencies - is this correct? is there a (safe) exchange that does list all currencies?

Which are the most respected/trusted exchanges - I have been looking at Kraken, Coinbase and Poloniex but I am not sure these are compatible with being UK based.

Is it simple to transfer a bitcoin holding back to Fiat currencies?


Thanks in advance for any help posted, I am sure I will have further questions as contributions are put forward!!

Thanks

Peekay