how to buy and to store bitcoin - page 2.

Porfirii

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Quote from: Rikafip on January 23, 2021, 03:22:08 AM

Before immediately buying 1 BTC, I would advise you to buy some smaller amount first to get yourself familiar with it, make a few transactions from wallet to wallet just to avoid any fatal mistakes as once you send bitcoin to an address that you don't have access to, it's gone forever.

I was going to suggest this too but Rikafip has (of course) already pointed it out. Don't all into the error of underestimating this advice, and not only when buying, but when sending also. A wrong address and you lose it; a virus that changes the address you just copied and pastes a different one and you lose it; not being careful when setting up the fees and you may lose it too (or a big part). It doesn't happen in a every day basis, but when it does, it can be devastating, moreover if you want to operate with 1BTC at these prices.

Eureka_07

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Quote from: img on January 22, 2021, 04:34:17 PM

1. How to buy directly, not to be on a trading website.
2. How to store it.

If you don't want to buy on any exchange websites, you can buy them directly from the seller, I'm not sure, but there might be some peeps here in our forum who are doing bitcoin trades. You can also buy them on your local bitcoin ATMs, or if you know anyone who sells bitcoin, why ask them directly and try to start the trade.
Store them on a hardware wallet, 1 bitcoin is a large money in equivalence.

Peanutswar

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Activity: 1708

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If you want to buy bitcoin you can try the coinbase[1] and the binance[2] well we are not courage storing a bitcoin to those exchange so I highly suggest installing electrum[3] wallet to your smartphone/PC I will drop those links so you wont bother if you think that's fake or not.

1. https://www.coinbase.com/
2. https://www.binance.com/en
3. https://electrum.org/#download

Also good to have a ledger too if you want.

Other than exchange you can buy with the use of P2P, still keep aware and safe making transaction with other people. Binance have p2p too.

Gunday_07

member

Activity: 280

Merit: 11

Quote from: img on January 22, 2021, 04:34:17 PM

Hi,

I want to buy 1 BTC, but I'm too stupid (I assume) to understand how it works, although I read some topics before mine.

Could I receive some advice regarding:

1. How to buy directly, not to be on a trading website.
2. How to store it.

I would like to buy and to store it simultaneous on a Mobile Wallet (a phone that I am not using), Paper Wallet and on a Hardware Wallet, if it is possible.

Which is the best combination (the price it doesn't matter).

PS. I live in Switzerland. In case it might help.

Thank you very much.

Since there are too many response about how to buy bitcoin I will drop points about wallets, hardware wallet is the best and it also depends and make more sense if you plan on holding the bitcoin for a long term, if this is what you are planning on doing then buy hardware wallet, they are the safest

Rikafip

legendary

Activity: 1722

Merit: 5937

As other suggested, if you want to buy BTC without getting involved with exchanges, ATM is one of the easiest ways. I just wanna warn you that buying BTC that way is usually more expensive since generally ATMs have high fees (I've used them in several countries and fees was over 5%). From what I can see on coinatmradar.com, all ATM providers in Switzerland have a daily cap on how much one person can buy/sell (1,000-5,000 Euro) meaning there is some sort of verification needed, which kinda sucks as you are already paying high fee so one would expect to have less restrictions and without verification.

Before immediately buying 1 BTC, I would advise you to buy some smaller amount first to get yourself familiar with it, make a few transactions from wallet to wallet just to avoid any fatal mistakes as once you send bitcoin to an address that you don't have access to, it's gone forever.

Rowenta

member

Activity: 196

Merit: 12

Quote from: img on January 22, 2021, 04:34:17 PM

Hi,

I want to buy 1 BTC, but I'm too stupid (I assume) to understand how it works, although I read some topics before mine.

Could I receive some advice regarding:

1. How to buy directly, not to be on a trading website.
2. How to store it.

I would like to buy and to store it simultaneous on a Mobile Wallet (a phone that I am not using), Paper Wallet and on a Hardware Wallet, if it is possible.

Which is the best combination (the price it doesn't matter).

PS. I live in Switzerland. In case it might help.

Thank you very much.

You can get a hardware wallet since it's not that costly, and moreover I believe you can afford one if you can buy 1 btc, I don't know if you like KYC or not, if there is no reason to hide your identity it's safest to buy on binance exchange with your mastercard or bank directly, don't worry your country is well supported, you will be asked to complete the KYC verifications which will only take minutes, wait for the verifications to complete and buy bitcoin

qwertyup23

hero member

Activity: 2268

Merit: 789

Quote from: img on January 22, 2021, 04:34:17 PM

I would personally recommend purchasing BTC if your country offers a local exchange that also provides a local wallet simultaneously. There are lots of hardware wallet being sold online which I do also recommend.

In addition, there are various online exchanges (if a local exchange is unavailable in your country) that are trusted and have been used by people ever since. You can purchase BTC there without any fear of being scammed online.

mersal

member

Activity: 1204

Merit: 38

Quote from: img on January 22, 2021, 04:34:17 PM

1. How to buy directly, not to be on a trading website.
2. How to store it.

If you don't want to use any centralized trading website then you have decentralized p2p trading platforms which can be helpful to buy bitcoin from someone directly via bank transaction or other means of payment where you no need to worry about escrowing funds.

Or you can use Currency exchange to buy bitcoins anonymously from fellow forum members but don't forget to escrow the funds since the amount you are looking to buy is not small with the current market price

To store bitcoins on your mobile I suggest you to download electrum from https://electrum.org/#download and note down the private keys.

GreekCoiner

newbie

Activity: 62

Merit: 0

Sir, I can see that you are very newbie in "Bitcoin" so I would suggest you to first spend some time reading any book about Bitcoin and also make some tests in the "testnet". Watch some videos, make some tests and then find a good wallet.
Its important to first understand what it is before you buy to avoid any mistake which may lead to coins loss.

BitMaxz

legendary

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It seems that there are many Bitcoin ATMs in your country why not directly buy BTC on those Bitcoin ATMs.

You can use this tool https://coinatmradar.com/ and check maybe there is one Bitcoin ATM near your current location.

Now before you buy directly from Bitcoin ATMs make sure that you already have a wallet on your phone I suggest you install Electrum for mobile, you can download them directly from the Playstore or here https://electrum.org/#download

Then follow this "How To Use A Bitcoin ATM – A Beginner’s Guide"

hatshepsut93

legendary

Activity: 3024

Merit: 2148

Even if you're not using your phone, it's still a bad idea to use it as a wallet for coins that are meant for long-term storage rather than daily spending. A phone is a device that can always be connected to networks, it runs on some proprietary software, unless you have rooted it and installed an alternative OS, it could have some malware or backdoors. Having a hardware wallet and multiple backups of your private keys or seed stored in different places is more than enough, just make sure that the wallet was generated offline and never touched an environment that is connected to the Internet.

Charles-Tim

legendary

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To buy bitcoin, you can make use of Currency exchange on this forum, but make sure you are careful of scammers and make use of reputed user for escrow service (member with positive trust and that have escrowed many times before). But, you can make use of no-kyc exchanges like https://hodlhodl.com/, https://localcryptos.com/ or https://bisq.network/.

In order to hold your bitcoin safe after you bought it, you can make use of paper wallet, this can be generated from bitaddress.org or make use of hardware wallet, you can use your hardware wallet on your phone, but it is either you use ledger nano x that support bluetooth you can use to connect to ledger live on phone, or buy phone USB code for other hardware wallet like trezor and ledger nano s to connect. But, it will be good if you can manage your hardware on computer using electrum wallet. Mobile phones can install malware anytime because if its everyday use, operating hardware wallet on a computers is safer and the recommended way, but if you insist, you should be careful of sites that can result to malware installation on your mobile phone, use antimalware and avoid malware in all ways.

JeromeTash

legendary

Activity: 2338

Merit: 1261

Heisenberg

The process of buying or selling Bitcoin is called trading/exchanging, so you can't buy Bitcoin minus trading Wink

Most newbies use service like coinbase or Blockchain wallet to buy bitcoins if they don't want to use the traditional exchanges but note that
- Coinbase or blockchain are custodial. They will ask for KYC and can block your funds/account at any time, so you don't have full control of your fund so longs as they are still in the accounts of the platforms
- The rates maybe a little higher than the normal market rates

Noncustodial mobile wallets like Mycelium offer an option to buy Bitcoins through their wallet, but they still use a third party service.

img

newbie

Activity: 2

Merit: 0

Hi,

I want to buy 1 BTC, but I'm too stupid (I assume) to understand how it works, although I read some topics before mine.

Could I receive some advice regarding:

1. How to buy directly, not to be on a trading website.
2. How to store it.

I would like to buy and to store it simultaneous on a Mobile Wallet (a phone that I am not using), Paper Wallet and on a Hardware Wallet, if it is possible.

Which is the best combination (the price it doesn't matter).

PS. I live in Switzerland. In case it might help.

Thank you very much.

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