Cryptocurrency Beginner | Bitcointalksearch.org

CryptoManiaks

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Quote from: J9 - Coinhost on December 09, 2020, 12:10:47 PM

Hey guys! I am very new to cryptocurrency and I am seeking advice on how and where to invest. I do not have enough to buy an entire bitcoin. I am wondering if it is better to buy altcoin and convert it to bitcoin later. There is so much information on the internet that it is sometimes overwhelming. That's why I am seeking your advice and getting involved in this community.

Hello there,
Short answer. Not getting "enough" to buy a whole Bitcoin right now is completely fair. Actually, not many people decide to go "all in" like that. Buy as much as you can, even for $50/100. It's a start.
The information on the Internet is a lot, true. And you really don't need to get overwhelmed. Feel free to check this guide How to Invest in Bitcoin: A Simple 5-Step Guide [2021] I truly hope, it would give you some ideas and clear lots of things.
Of course, choosing the precise site is a matter of choice, and could be a hard decision. Make sure to check before hopping in.
Good luck

*Answering a bit late, but still... better late than never.

taufik123

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Quote from: mersal on December 12, 2020, 05:23:19 PM

If you are just going to buy your first cryptocurrency then I will advice you to stsrt it with Bitcoin even if you buy bitcoins worth of $100 is better than investing into cheap altcoins which may not have potential and its really hard to choose which altcoins to invest for a beginner. And keep yourself updated with crypto related news and information by keep yourself active on this platform.

The initial choice to buy Bitcoin is not a bad choice, because Bitcoin is the most valuable Coin today. But for some other altcoins it doesn't seem that difficult to choose.
Just have a look at some of the top lists on Coinmarketcap such as the top 10 recommended altcoins list like ETH, BNB, XRP and other coins.

The most important thing before investing is reading market movements. A beginner must also know when is the right time to invest. Basic knowledge of initial investment and trading knowledge will be required.

cryptoaddictchie

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Quote from: mersal on December 12, 2020, 05:23:19 PM

If you are just going to buy your first cryptocurrency then I will advice you to stsrt it with Bitcoin even if you buy bitcoins worth of $100 is better than investing into cheap altcoins which may not have potential and its really hard to choose which altcoins to invest for a beginner.

Depends actually. With $100 budget that seems to be a little low for purchasing btc at its current price now. I think altcoin is much okay too however like you said its not that easy to pick. But there are ways on how to choose a good altcoin and it could be a major coin or a new sprout altcoin. Some traders betting more on new projects that could possibly gave a huge profits when that tokens pump so much but that is a hard task for a beginner. So better pick a potential major coins that is safe than newer projects.

mersal

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Quote from: J9 - Coinhost on December 09, 2020, 12:10:47 PM

Hey guys! I am very new to cryptocurrency and I am seeking advice on how and where to invest. I do not have enough to buy an entire bitcoin. I am wondering if it is better to buy altcoin and convert it to bitcoin later. There is so much information on the internet that it is sometimes overwhelming. That's why I am seeking your advice and getting involved in this community.

If you are just going to buy your first cryptocurrency then I will advice you to stsrt it with Bitcoin even if you buy bitcoins worth of $100 is better than investing into cheap altcoins which may not have potential and its really hard to choose which altcoins to invest for a beginner. And keep yourself updated with crypto related news and information by keep yourself active on this platform.

The Cryptovator

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Welcome to the crypto industry. Since you are newbies in the crypto and forum as well, you have to learn a lot. Investing in crypto isn't much hard, but determine the right place is quite hard. If you invest in the shitcoin probably you have to regret it later. I will say your thoughts are wrong, buying altcoin and convert it into Bitcoin later would be the right decision at the beginning in my opinion. It would consider trading and you have to learn more about it to avoid losses. It would reasonable to buy a small part of bitcoin as suggested by other users, doesn't necessary to buy the entire Bitcoin. Most important is to learn about bitcoin or other cryptocurrencies. There is much information on the webs from where you can learn. Also, Bitcointalk is the biggest crypto community ever from where you can learn day by day. So spend more time on the forum by reading constructive discussions related to Bitcoin and cryptocurrency technologies. That's how you can build your skill from here.

Crypto Bright

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We are on the same rank as a newbie, but all depend the level of understanding in the industries, Therefore, my own little understanding, Cryptocurrency exchange platform has made things easy and faster for buying and selling alt-coin, as already stated crypto is a decentralized currency peer to peer, Hence, Binance exchange with a less charge fees to covert into any given transaction.

Amplify

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Hey, guys, I'm also a newbie! I'm just learning about the cryptocurrencies investments, so I came across this forum.
I've been following the discussions for some time now.

If I understood correctly, investing in Bitcoin is the smartest route. Of course, as others have said, at the beginning, you don't have to spend a lot of money. It's best to start with smaller amounts and then gradually increase as skill and knowledge improve.

Akiko

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Quote from: J9 - Coinhost on December 09, 2020, 12:10:47 PM

Hey guys! I am very new to cryptocurrency and I am seeking advice on how and where to invest. I do not have enough to buy an entire bitcoin. I am wondering if it is better to buy altcoin and convert it to bitcoin later. There is so much information on the internet that it is sometimes overwhelming. That's why I am seeking your advice and getting involved in this community.

If you plan to invest in altcoin make sure you already know the risk. Altcoin can give you highest profit but at the same time you can also lost a lot so it is necessary before you invest make sure that you really first learn everything you need to know even it is in Bitcoin or altcoin . I know many traders earn a lot trading in altcoin and since you are the one to invest you must first know the ins and outs of altcoin to lessen the risk to lose your money. Just reminder many newbie lost a lot in first attempt you need to control your emotion and never be Inlove with a coin.

logicrypto

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Quote from: J9 - Coinhost on December 09, 2020, 12:10:47 PM

Hey guys! I am very new to cryptocurrency and I am seeking advice on how and where to invest. I do not have enough to buy an entire bitcoin. I am wondering if it is better to buy altcoin and convert it to bitcoin later. There is so much information on the internet that it is sometimes overwhelming. That's why I am seeking your advice and getting involved in this community.

You should not trust anyone on getting advice on where to invest.
Better do your research, read about coins and think about what you want to do with it. Do you want to HODL it or do you want to do day trading?
There are many coins that give a lot of options right now on investments... The bigger the risk the more the profits... It is up to you and it is only your choice on what you are going to buy.

CryptocurencyKing

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I understand it's discouraging to buy bitcoin at this point when it seems to be appreciating in value and as such, a correction I'd anticipated do, it creates in you @OP the mindset of waiting on that correction to happen before buying or perhaps, buy altcoins first and later for the conversion to Bitcoin but I'll tell you this. Bitcoin haven't stopped growing, which ever point you buy it, your still bound to make profit along the line so, there is really no point buying altcoins and making the necessary switch or transfer later. Go for that which is sure and that is Bitcoin.

J9 - Coinhost

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Thank you, guys! I really appreciate all your advice!

traderethereum

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If you only want to keep bitcoin until the price hit the highest price and sell it right away, you can buy bitcoin at any price with any funds amount and hold it.
But if you want to increase the bitcoin amount after you buy, you must learn about trading to make a profit in bitcoin.
If you decide to trade, the first thing you must know is the volatility of the bitcoin price, and there is no guarantee for the bitcoin price to increase still or decrease, and you should be ready for any situations that can happen to bitcoin.
It is up to you which one you want to use, and you are free to decide.

Latviand

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Quote from: 20kevin20 on December 09, 2020, 12:48:49 PM

Purchasing alts only to turn them back into BTC is a complicated, unnecessary waste of money. Just purchase BTC instead, you're going to be better off. You can purchase as much as you like; purchasing an entire coin isn't required.

Altcoins are ways on how to make another profit besides bitcoin, if you invest on it so that you can recover your losses in bitcoin is not a good thing to do. Bitcoin is the best cryptocurrency in the market although it is so volatile and still developing itself. There's no such thing as a perfect cryptocurrency and if you will purchase a coin, focus first on bitcoin and hold it before you make another investment in another coins. Always remember focus on bitcoin.

CryptopreneurBrainboss

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Altcoins are losing their dominance as that of bitcoin is dominating the market. If you observe carefully too you'll see altcoins are continuously dumping and even dump more when bitcoin experience some corrections. It isn't safe to go into altcoins at the moment, even the very promising ones like ethereum hasn't been performing as expected. Bitcoin isn't done yet with the mooning, let the cool off not fool you, there are still strong legs up ahead. Bitcoin could still possibly cross the $20k trading value before the years ends.

With that in mind you should go for bitcoin, do understand that even though things doesn't play out as I have stated you can to hold unto your coins without the fear of them going out of existence like with most altcoins that trends seasonally.

Infact as a newbie before adventuring into other aspects of the industry, it's most advisable to first and foremost buy some bitcoin and hold. Probably with the profits you get from holding bitcoin you can use to buy some other altcoins that interest you but at all times you should have some bitcoin in your wallet.

Alucard1

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No need for you to buy an entire or full BTC, you may buy any amount you want as long as it reaches the minimum value. You may also try some altcoins like ETH, LTC, XRP the value of these altcoins are not that so big and also good for investment just like bitcoin. You may invest using your crypto wallet just make sure that it is secured and free from virus, investing is like holding for a long term, wait until the value of the currency you are holding to rise up and then pull it out, by that you will earn some money.

abel1337

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Quote from: J9 - Coinhost on December 09, 2020, 12:10:47 PM

Hey guys! I am very new to cryptocurrency and I am seeking advice on how and where to invest. I do not have enough to buy an entire bitcoin. I am wondering if it is better to buy altcoin and convert it to bitcoin later. There is so much information on the internet that it is sometimes overwhelming. That's why I am seeking your advice and getting involved in this community.

You don't need to buy a whole bitcoin, It's not wise to buy altcoin and convert it into bitcoin because there is some spread between buy and sell of an altcoin and it can reduce the value of your initial investment to crypto. You can purchase bitcoin on localbitcoins with just a .0xxx bitcoin amount if you don't have enough fiat yet to buy.

There are many guides in this forum for newbies and this board is the best for questions like this.

Smeet

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Quote from: J9 - Coinhost on December 09, 2020, 12:10:47 PM

Hey guys! I am very new to cryptocurrency and I am seeking advice on how and where to invest. I do not have enough to buy an entire bitcoin. I am wondering if it is better to buy altcoin and convert it to bitcoin later. There is so much information on the internet that it is sometimes overwhelming. That's why I am seeking your advice and getting involved in this community.

If I was in your position, I would try and learn as much about bitcoin as i could before investing in it. I say this because I actually did do this.

Learn more about Bitcoin and the benefits and downsides it has (it does have some problems that can be solved), and then invest into it whenever you have the funds to do so. Putting the money into an altcoin only to be put into bitcoin later isnt the right thing to do and is pretty much gambling and trying to time the market.

boyptc

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Quote from: J9 - Coinhost on December 09, 2020, 12:10:47 PM

Hey guys! I am very new to cryptocurrency and I am seeking advice on how and where to invest. I do not have enough to buy an entire bitcoin. I am wondering if it is better to buy altcoin and convert it to bitcoin later. There is so much information on the internet that it is sometimes overwhelming. That's why I am seeking your advice and getting involved in this community.

Welcome.

You don't have to buy a whole bitcoin if you're not capable of buying it. You can buy it in decimals or whichever amount you're comfortable at doing.

It is always the best decision to buy bitcoin instead of altcoins. But if you think that will do good to you as a beginner, still make it sure that you'll buy bitcoin no matter what.

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Quote from: J9 - Coinhost on December 09, 2020, 12:10:47 PM

I do not have enough to buy an entire bitcoin. I am wondering if it is better to buy altcoin and convert it to bitcoin later.

You're probably having unit bias; were you consider the potential of a coin based on how affordable a whole is. It looks better to own 31ETH than 1BTC, and with the same amount you can purchase thousands of other altcoins. This however is not how the market works.
With $50 you get about 0.002BTC, seems small if you can get about 50 of xcoin for the same amount, however if the fundamentals of Bitcoin is stronger, it would be far more profitable in the long run and you will get the exact same ROI as someone who owns 1BTC and that would be far more than someone who holds 50 xcoins

You do not need to own an entire Bitcoin, create a buying plan and purchase based on that. Remember to only use amounts you can afford to lose

Filicius

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Quote from: J9 - Coinhost on December 09, 2020, 12:10:47 PM

There is so much information on the internet that it is sometimes overwhelming. That's why I am seeking your advice and getting involved in this community.

Don't search more, you have landed at the correct place if you want to learn about Bitcoin (and other cryptocurrencies). At least you will find many information that will not be as biased as out there, full of shillers.

I advice you not to buy anything until you have a few notions on what you are putting your hands on. Take a few days to seek and gain knowledge in the forum, and then make an informed decision. We don't know how much money you want to invest, how much can you afford to lose, your goals, etc. so this is something you must decide on your own. A hardware wallet is great, but if you just want to test with a few satoshis or a few altcoins, it is something you don't need until you have a minimum portfolio.

It is true that if you buy a few coins you may be more motivated to keep learning, but anyway, make the effort and read a little bit.

Raytheon

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Quote from: J9 - Coinhost on December 09, 2020, 12:10:47 PM

I am wondering if it is better to buy altcoin and convert it to bitcoin later.

Yes you can and it's the better way when you have low capital. You can choose between ETH, LTC or even TRX for high speed transactions. Some exchange, for example Binance doesn't require any minumum deposit but does requires minimum trade value (0.001 BTC). If your capital in bitcoin is less than that amount then you can't make any trades. But buying altcoins instead enables you to sell if you find the prices juicy.

20kevin20

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Purchasing alts only to turn them back into BTC is a complicated, unnecessary waste of money. Just purchase BTC instead, you're going to be better off. You can purchase as much as you like; purchasing an entire coin isn't required.

Charles-Tim

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Quote from: J9 - Coinhost on December 09, 2020, 12:10:47 PM

Hey guys! I am very new to cryptocurrency and I am seeking advice on how and where to invest

Holding your bitcoin on hardware wallet will be best, but you can try electrum if the amount to hold is not much, the electrum official site is electrum.org. To buy, you can try hodlhodl or bsiq exchange, or making use of this forum for buying but be careful of scammers by using a reputed member service.

Quote from: J9 - Coinhost on December 09, 2020, 12:10:47 PM

I do not have enough to buy an entire bitcoin. I am wondering if it is better to buy altcoin and convert it to bitcoin later

You can purchase even $10 worth of bitcoin or less, you do not have to by 1 bitcoin. What you should consider most is to buy bitcoin at low price and its price to increase so you will gain. If you buy the altcoins at high price, and if you want to sell, you will lose and nothing different. But altcoins price can be more susceptible to depreciation during bull back.

Quote from: J9 - Coinhost on December 09, 2020, 12:10:47 PM

That's why I am seeking your advice and getting involved in this community.

My advice for you is to know the historical price of bitcoin and altcoins of your interest and be conversant with technical analyzes. Be careful of scammers and have your online privacy.

Iron Fist

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Quote from: J9 - Coinhost on December 09, 2020, 12:10:47 PM

Hey guys! I am very new to cryptocurrency and I am seeking advice on how and where to invest. I do not have enough to buy an entire bitcoin. I am wondering if it is better to buy altcoin and convert it to bitcoin later. There is so much information on the internet that it is sometimes overwhelming. That's why I am seeking your advice and getting involved in this community.

You don't have to buy FULL bitcoin. I don't know where you got that idea?
Bitcoin is denominated to eight decimal places (up to 0.00000001 BTC or 1 satoshi). You can invest any amount you have in bitcoin. Just keep in mind that you will have to pay a small transaction fee if you want to transfer bitcoin from exchange to your personal wallet.

J9 - Coinhost

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Hey guys! I am very new to cryptocurrency and I am seeking advice on how and where to invest. I do not have enough to buy an entire bitcoin. I am wondering if it is better to buy altcoin and convert it to bitcoin later. There is so much information on the internet that it is sometimes overwhelming. That's why I am seeking your advice and getting involved in this community.

Topic: Cryptocurrency Beginner (Read 282 times)