Topic: Bitcoin investment - page 3. (Read 474 times)

He can't use Binance without KYC because he needs to deposit his fiat somehow to the exchange. I guess he can always go to a bitcoin ATM but I am sure the fees are still crazy high for bitcoin atms like before at 10% or so. Hence why he should just stick with Coinbase.

He also can't buy DASH or XMR on Coinbase. He can buy ZEC instead. I don't think Coinbase will list either coins in the near future. Even Bittrex removed all 3 (XMR DASH and ZEC) due to all the regulatory hurdles that are going on with the regulators in the USA.

Invest now so that you can get so much profit from your investment. Now that bitcoin price is still increasing in the market that is making many traders think it will soon dump, that no one should invest on bitcoin because bitcoin started pumping last year.

Invest when the price of bitcoin decreased in the market, it will help you to make a good profit from your investment.  Since this year is the year of bitcoin anytime you invest on bitcoin you must surely achieve huge profit from your investment.

I don't recommend you to use Coinbase, but you can use Binance because that site allows you to skip the KYC, which is the important thing that we should be careful about by sending the document to any third party.

You can use £250 as a start while you can learn more about trading or investment. If you want just to have an investment, you can buy bitcoin at any price you want, but it will recommend if you can wait for a while until the price is down. The price now is back to $49k-$50k, so I guess you need to wait for a while and don't rush to buy bitcoin.

You can invest 80% in bitcoin and 20% in ethereum or 20% for 2-3 coins at the same time. But you need to be careful because the altcoin is following bitcoin price movements.

Though it's heavily not recommended, you can do that if that's what you prefer.

..if you want to be a part of history, that is; a really BAD side of history: https://cryptosec.info/exchange-hacks

Yes.

If your goal is to buy bitcoin and go for a long term investment, you can actually buy now and make a goal profit. Since this is a risky step, others are afraid they might fall because theyve seen btc from the dip and wanted to wait that happen again before buying again. But it is hard to wait for the price of it as 10k usd before, so if you wanted to atleast take a risk. Find a good entry of buying by checking some technical analysis and go for a long term trade.


I always suggest eth, ltc and other defi coins that offers  a good platform. But you can consider other coins too that actually been progressing well recently as it is always good to put many eggs in the basket to diversify your investments.

Any time bitcoin has a correction around -15%, you can buy it up. Price can fall deeper than -15% but soon it will rally well. Note that I can not give you any guarantee that you will get profit 100% when you buy dips like that. The market is unpredictable, no one can. But bitcoin has a bright future to rise more in value as its halving in block rewards each 4 years, its fixed total supply less than 20 millions, its lost amount of bitcoin and more importantly bigger adoption is coming.

You missed a great price to buy a dip 3 days ago and if you don't want to join now and want to join at lower price, you can wait for price about $41,000.

Good with this allocation: 80% into bitcoin and 20% rest into altcoins (something else means altcoins).

- DASH: an old altcoin, big communities, big use cases in many nations.
- XMR: privacy coins is the future and you must be bravery to ignore drama.

I think you need to wait for the dip. Investing in bitcoin this time of bull market is very risky, but it is always depend on you because i see that the bitcoin this time is still rising even if it it now in a very high price. I suggest you to prefer on some altcoin that is promising  whike waiting for the bitcoin dip, because there are so many altcoin that is now rising example xrp,doge,etc,.

For now, the best options is to wait for the biggest drop mate, and maybe you should at least find something else on binance aside from bitcoin while it's not yet going down. I would suggest 70% budget for btc by time massive corrections commences, then 30% of that goes to other potential coins like reef or xrp which got the highest potential to grow.

About the time to invest which is one part of Op's question, it is at the bear times so that price don't start appreciating while you still trying to make up your mind. Bitcoin price don't wait for procrastination. But the issue about it is that nobody knows when the bull will come back.

1. Depends on what you do intent to do neither you do like to do active trades or simply would just hold for long term.If you do choose long term hodl then buying on any price point wouldnt be an issue but if you do talk
    about on scalping out small percentage profits then you would need to find the most possible bottom price or pullbacks and this is where trading knowledge and skills will vary into each and everyone.
   Not all would have the same skills and only the best ones could really able to make profitable.

2. Its a nice allocation when putting up 80% of your portforlion.If you do consider on giving out 20% on alts then choose on one of the top rankings that is on
   rank 2-20 or even lower depending into your likes and decisions.

It depends on what you want, the weakest wallet are web wallets, coinbase is a web wallet. Although, said to be safe and secure which is not still recommended by it's design, but it is an API wallet which means you do not have private keys to your coins, this means if anything happens, your cryptocurrencies stored on it can be controlled by the coinbase company, they can freeze your account, you will not have the full control but them because you do not have the private key to your coins, they have it.

Recommendable to just use it for buying and send to your noncustodial wallet, preferably hardware wallet.

Thanks both ... and what if I dont use a non-custodial wallet? Or leave it in coinbase?

Is coinbase just the place where I buy the coin(s)?

Do dollar-cost averaging[1] instead. Instead of making 1 big buy, you spread out the purchases for weeks or months. Just make to strictly follow it, without fomo buying and panic selling.

Also, not your keys, not your bitcoin[2]. So after every purchase, make sure to withdraw the funds from Coinbase to a non-custodial wallet.

As for the "something else part", while I personally prefer bitcoin only for the long term, you do you.

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[1] https://dcabtc.com/
[2] https://notyourkeys.org/

To invest (hodl) you will need to move your bitcoin into a noncustodial wallet, hardware wallet like trezor preferably. With that, you will have a seed phrase and be able to control your coins yourself with private key generated. The seed phrase needs to be protected offline off-phone but well written on paper and triplicate into three different locations. Web and custodial wallets are not recommended for holding.

For the right time to invest, all I can comment is that bitcoin is a deflationary asset, but you need to take proper look into bitcoin price history and analyze and learn what time is best. No one will tell you the best time to invest but yourself. Also, about 80% bitcoin and 20% altcoins, you also need to analyze the crypto market and decide yourself how you want your portfolio to be and never invest on shitcoins which you can think have low price, that the price will increase, the price can become lower and such coins can later beccome dead, but the reason I will advice you not to invest in such coins is because of high volatility and low trading volume.

What I can just advice is to never leave your coins on custodial wallets and also on web wallets, offline wallets are recommended for holding. Also, not to invest on shitcoins are they have high volatility and low marketcap.

Hi Guys,

I wanted to invest a bit of money (£1000 max at the minute until I understand a bit more) in crypto currency - mainly bitcoin.

I am a complete newbie so would appreciate some advice on the following:

1) When is the time to invest? I can see today that Bitcoin is up 2.5%. Is it best to wait for a big drop or just get onboard now?
2) If I wanted to put 80% into bitcoin then 20% into something else - what would you recommend?

I am using coinbase. Thanks for your time.