Just got into BTC - page 2. | Bitcointalksearch.org

Juggy777

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Quote from: kaya11 on August 17, 2019, 10:45:20 AM

Quote from: stupidbtcayy on August 15, 2019, 11:11:23 PM

Hello boys, I received a big amount of money in BTC & decided to keep it instead of putting it into my bank directly.

I'm really stressed about BTC, I don't wanna lose all this money because it's a big amount for me.

I don't know what to do anymore, wether holding or getting it into tether. Help

Keep your self anonymous and don't brag about how much Bitcoin you've got there, if I were you, if you can dtill manage to live on by the day and the next coming days or even a year or more, I would just sit tight and watch movies. Wait for it as we are all waiting for some big moments to come, I mean big news and good news about Bitcoin, a sky rocket of price maybe an that is the right moment to convert it into cash.

@stupidbtcayy you have made a wise decision of investing in bitcoins, but it seems to me that you have not done your research regarding bitcoins volatility. I would advise you to read more about Bitcoins and how volatile they’re, and follow the golden rule i.e. learn to ignore all short term fluctuations, and keep holding bitcoins for the long term. Also I can understand everytime prices dips you feel you have made a loss but unless you sell your coins there’s no loss, hence just hodl them and sell them when they’re at it’s peak.

SuperTA

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Quote from: dr_hany0 on August 16, 2019, 12:16:24 AM

Quote from: stupidbtcayy on August 15, 2019, 11:11:23 PM

Hello boys, I received a big amount of money in BTC & decided to keep it instead of putting it into my bank directly.

I'm really stressed about BTC, I don't wanna lose all this money because it's a big amount for me.

I don't know what to do anymore, wether holding or getting it into tether. Help

Sell all btc now add keep usd . Then after months ( when btc becomes more sheeper) buy more btc again by the same usd .

Never ever sell everything in a bull market! My advice is to hold majority of your bitcoins. If you want you can trade some between important lines. To sell a small amount of holdings at the important resistances and buy at the important support levels. If you sell everything you risk to be shaken out like many traders were shaken at 4k, 6k. They are now angry no-coiners and they are still hopping for bitcoin to drop. Don't be one of them.

libert19

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Don't do anything in hurry, you will most likely take a wrong decision if you do so.

Get a hardware wallet like Ledger nano/Trezor and keep your BTC there. If you are not sure how to setup, check video guides, you will find 'em on YouTube.

Good luck, may BTC give you massive profits!

Fredomago

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Quote from: RealMalatesta on August 17, 2019, 01:56:52 PM

Tether is crashing, so as your money will eventually crash along with it, there are other stable coins that is still quite reliable like USDC, You can make use of that I would really had advised you to go for holding, but because of the volatility of bitcoin which could be in 2 ways, you know that the more you have in holding, the chances you have of getting more when the rice of bitcoin is increasing and vice versa.

I don’t know what you are scared of putting the money in bank, if I was to advised you, I would ask you to out half of it in your traditional bank and use it for more investment that are not digital assets, you could use it to buy gold and hold your funds in it in case you done want to have it where you can easily spend, crypto is full of risk, better you don’t just rely on one source to save your money.

Same with me, if you have a huge amount of crypto and you are unsure if what to do with it better to split it up and make a use of it in other forms of investment, you need to be practical being afraid means that you are not ready to see the value of your assets being dumped chances that you'll going to panic once you see massive dump is ongoing.

You have options to consider, learn more around crypto market while holding your coins or split it up and cash the half into your fiat while still in the learning stage then try growing your remaining assets when you already have good understanding about this market.

timerland

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If you're worried about the biggest cryptocurrency that's been around for numerous years, seen numerous public mentions and good publicity, as well as been seen as a great investment by numerous insitutions, I'd recommend you to say from altcoins.

There are a large variety of dodgy altcoins, that have a multitude of issues but still have cult-like followings.

If you are stressed about bitcoin and losing value, there are 2 options from what I see.

1. Sell half of it so you have piece of mind.
2. Set a sell order that automatically sells all your bitcoin when it hits a certain low price and you don't want to lose more money.

Good luck mate, I hope you like BTC and hold it with all of us!

dantee1

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Activity: 182

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Where is your fears coming from? Is the fear of loosing your Bitcoin to hackers or the fear of the price falling sharply?

If you are afraid of loosing your Bitcoin to hackers as you are not ready to exchange now. If that is your problem, the best way to store your Bitcoin to avoid hackers is on a cold wallet. Believing you already know what cold wallet is, I will recommend you get Trezor because that is what almost everybody is using. It's easy to use and 100% secure.

If your fear is about the Bitcoin volatility, all you need to do is to keep your eyes open to the market trends. Follow the daily price indicators. As soon as you begin to notice any sign of sharp falls, that may be the time to make your decisions as to whether to keep or sell off.

Mpamaegbu

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Once a man, twice a child!

Quote from: stupidbtcayy on August 15, 2019, 11:11:23 PM

Hello boys, I received a big amount of money in BTC & decided to keep it instead of putting it into my bank directly.

I'm really stressed about BTC, I don't wanna lose all this money because it's a big amount for me.

I don't know what to do anymore, wether holding or getting it into tether. Help

No time is too late to say welcome and to that I say welcome to the crypto world. However, besides all that you're going to read here as suggestions, remember that none should serve as financial advice. In furtherance, I think it would've helped more if you told us how much this money you received is so that the traders here can suggest to you areas of investment you can go into to increase your holding and whether it is worth selling off and rebuying at a later time.

RealMalatesta

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Tether is crashing, so as your money will eventually crash along with it, there are other stable coins that is still quite reliable like USDC, You can make use of that I would really had advised you to go for holding, but because of the volatility of bitcoin which could be in 2 ways, you know that the more you have in holding, the chances you have of getting more when the rice of bitcoin is increasing and vice versa.

I don’t know what you are scared of putting the money in bank, if I was to advised you, I would ask you to out half of it in your traditional bank and use it for more investment that are not digital assets, you could use it to buy gold and hold your funds in it in case you done want to have it where you can easily spend, crypto is full of risk, better you don’t just rely on one source to save your money.

giantrobot

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This depends on your confidence and assertiveness. There are too many answers when you ask a question.
Really in my opinion, if you want to be safe, sell it now for 10k dollar s. 10k dollars is a good price recently, after bitcoin's no-braking time.
If you like adventure, then you can keep it. Bitcoin can rise beyond $ 20k, I guess, but I'm not sure when. Or maybe it will drop?
In a nutshell, this post of mine is to express my objective opinion for your reference. Your ability to get rich depends on you, I am not sure about my ability, so I only contribute opinions, not instructions.

kaya11

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Quote from: stupidbtcayy on August 15, 2019, 11:11:23 PM

Hello boys, I received a big amount of money in BTC & decided to keep it instead of putting it into my bank directly.

I'm really stressed about BTC, I don't wanna lose all this money because it's a big amount for me.

I don't know what to do anymore, wether holding or getting it into tether. Help

Keep your self anonymous and don't brag about how much Bitcoin you've got there, if I were you, if you can dtill manage to live on by the day and the next coming days or even a year or more, I would just sit tight and watch movies. Wait for it as we are all waiting for some big moments to come, I mean big news and good news about Bitcoin, a sky rocket of price maybe an that is the right moment to convert it into cash.

ajja

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Activity: 294

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if you are very afraid you better exchange it and deposit it in the bank directly, because if you save in btc is very big risk. We no one knows in the future whether the price of BTC will return high or the price will go down.
but I suggest you get rid of that fear and start saving btc for the long term. I am sure you will reap many profit.

Ridwan Fauzi

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The risk for someone who has bitcoin is not about hacker only, to save your bitcoin on the hardware wallet only have a function to make your bitcoin safe. But there is something who make your bitcoin meet a decreasing price. It means your money will lose also, because the price of bitcoin is so volatile. And now its price has been decreasing for almost $2000 in a few days.

So, I only give a suggestion to you to choose the strategy that you want. If you have bitcoin to store your money I mean you using it as investment place then you have to have a patience. But when you use bitcoin only for to store your money I think it is not a safest way, you can move into USDT/Teather to store your money because the price of it doesn have a volatile price.

Sanitough

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Since you are new, maybe you are not aware of the price volatility of BTC, and you might loss if you failed to make a timely decision.
Holding BTC in your wallet is investing, and therefore there is a risk that the monetary value of your BTC will drop significantly.

If you don't want to take the risk, you can convert that into stable coin, then withdraw if you want to leave.
However, if you want to learn, you can touch a small percentage from your total BTC and start trading, and just continue learning so eventually you will know how to manage your funds.

BlackFor3st

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You have a large amount of money but I see in your situation that you are afraid meaning you are still a newbie in crypto currency. If you don't know what you are going to do then it's better that you just cash it out rather than holding it in btc or converting it to tether.

But if you will just study crypto currency deeper especially the bitcoin then you will surely love to hold it for a while until the price will increase before cashing it out.

qwertyup23

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Quote from: stupidbtcayy on August 15, 2019, 11:11:23 PM

Hello boys, I received a big amount of money in BTC & decided to keep it instead of putting it into my bank directly.

I'm really stressed about BTC, I don't wanna lose all this money because it's a big amount for me.

I don't know what to do anymore, wether holding or getting it into tether. Help

I have two (2) suggestions:

First, keep your bitcoins by securing/getting a hardware wallet and store any amount of bitcoins depending on your discretion; and
Second, invest your bitcoins either by HODL or by diversifying your portfolio in considering the conventional methods of investment in the market.

If I were in your situation, I would keep like 51% of my total bitcoins to a hardware wallet and invest the remaining 49% into different market porftolios (i.e. stocks, bank notes, or by HODL). In this way, I have the security in ROIs in stocks (depending on the company where I acquire my stocks) and risk the remaining by short-term income.

adubbz

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Only you know how much money is a lot for you.

I'm with some of the other guys here. Exchange some to FIAT until you are comfortable with leaving the rest. Then forget about it for awhile!

harizen

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Quote from: stupidbtcayy on August 15, 2019, 11:11:23 PM

Hello boys, I received a big amount of money in BTC & decided to keep it instead of putting it into my bank directly.

I'm really stressed about BTC, I don't wanna lose all this money because it's a big amount for me.

I don't know what to do anymore, wether holding or getting it into tether. Help

How come tether become an option?

And currently, where are your funds now? On what wallet you received it?

If you want to overreact about "security", a hardware wallet is your best choice. However, you need to spend money on it. You may also consider desktop wallet such as Electrum although you need to keep yourself always updated on what's going on this wallet.

igordata

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Quote from: stupidbtcayy on August 15, 2019, 11:11:23 PM

Hello boys, I received a big amount of money in BTC & decided to keep it instead of putting it into my bank directly.

Smart. That's why Bitcoin was created - you don't need banks to store your money anymore.

Quote from: stupidbtcayy on August 15, 2019, 11:11:23 PM

I'm really stressed about BTC, I don't wanna lose all this money

set the password for the wallet, store the password in several secure places. Or even parts of password.
Store the private key somewhere in several secure places.
Be happy.
Don't forget to explain your children or your mom where to get it in case your death. I'm not kidding. We all can die suddenly in a car crash or so.
Cheers.

rina aulia

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Save your BTC assets in hardware for the long term, it's better than storing them on the exchange because there will be pressure to sell them when prices go down, remembering one true story when someone kept gold for decades and even the almost forgot it, when he sold it when it already has a 1,000-fold profit.

Slow death

legendary

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