Topic: Looking to purchase my first bit coin, need advice (Read 2780 times)
I would go with coinbase they are a legitimate source of Bitcoin. Also I wouldn't recommend using apps such as that also coinbase allows you to have your own wallet and just straight up use their site as well to keep track of your wallets and all.
Yeah, it is necessary to give the bitcoin wallet and you should start to sign up on the exchange site, than the procedure will start and step by step do your payment method for buy the bitcoin and i think you are confused to use you bitcoin wallet address because you are newbie but don't worry.
It's not complicate to buy bitcoin, really.
I advise you to do some research on this forum, and you will find all info you need, in order to start.
You have a several ways to get bitcoin.
Purchase is one, but you can collect bitcoin in other ways, for some work offered, with writing on this fiorum (signature campaigns), collecting faucets etc.
Please do also good research about bitcoin wallets, in order to find good one.
I advise you to do some research on this forum, and you will find all info you need, in order to start.
You have a several ways to get bitcoin.
Purchase is one, but you can collect bitcoin in other ways, for some work offered, with writing on this fiorum (signature campaigns), collecting faucets etc.
Please do also good research about bitcoin wallets, in order to find good one.
Buying bitcoin is simple these days, our forum has given access to contact persons and make trading to receive the bitcoin. Other than this trading websites are there which helps to buy bitcoin even without revealing identity. Buying is not a big deal. To store the bitcoin one need to have their own e-mail to create a bitcoin address to save.
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If you want to actually invest in Bitcoin instead of getting some from faucets or working for some to start with, here's what to do:
1. Get a better wallet. It's best to make an informed decision about your wallet because a lot of Bitcoin services will try to scam you. If you're keeping a small amount, I would suggest Blockchain, or maybe Coinbase, as they are online wallets which are fairly secure. If you're keeping more, I would suggest a cold (offline) wallet like Armoury.
2. Research Bitcoin a bit more. Bitcoin addresses should change. After you make an address you still have the old ones so you could put it in your signature for example and if someone sent BTC to it that would still go into your wallet. But there are new addresses because if you kept the same address everyone you transacted with would be able to see your transactions - this is the sort of thing you should know before buying.
3. Consider an exchange like Bitstamp for exchanging Bitcoin with fiat currency. Don't store all your money in the exchange though - something could go wrong, like what happened to Mt. Gox in 2013.
Make sure you buy the Bitcoin when the price is a bit lower. Right now the Bitcoin price is pretty damn high.
1. Get a better wallet. It's best to make an informed decision about your wallet because a lot of Bitcoin services will try to scam you. If you're keeping a small amount, I would suggest Blockchain, or maybe Coinbase, as they are online wallets which are fairly secure. If you're keeping more, I would suggest a cold (offline) wallet like Armoury.
2. Research Bitcoin a bit more. Bitcoin addresses should change. After you make an address you still have the old ones so you could put it in your signature for example and if someone sent BTC to it that would still go into your wallet. But there are new addresses because if you kept the same address everyone you transacted with would be able to see your transactions - this is the sort of thing you should know before buying.
3. Consider an exchange like Bitstamp for exchanging Bitcoin with fiat currency. Don't store all your money in the exchange though - something could go wrong, like what happened to Mt. Gox in 2013.
Make sure you buy the Bitcoin when the price is a bit lower. Right now the Bitcoin price is pretty damn high.
You don't need to share any personal data, if you want to be anonymous which is the best feature Bitcoin offers. If you want to purchase Bitcoins, you can either go to a local ATM near you that sells Bitcoin or you can do it through credit cards or face to face cash transaction which I don't recommend. What you need to know his that the ATMs offer a pretty high price though, usually $30 over the normal price.
I am looking to purchase my first bitcoin. I have the app BTC Wallet, what is the process for acquiring my first bitcoin. Do I give the seller my e-mail address for my wallet?
If you are the same using coinbase email can detect to send in your wallet according to coinbase and also here in my country we can send bitcoin using email.. but the best to use is to send your wallet bitcoin address which is all people are using it even dealing here in our forum.. and out side of this forum..
no with bitcoin you get an highly secure encryption system where you have to just give your bitcoin address to any other person and they can deposit bitcoins on your bitcoin address its same as your bank account numbers just more secured and publicly viewable
I am looking to purchase my first bitcoin. I have the app BTC Wallet, what is the process for acquiring my first bitcoin. Do I give the seller my e-mail address for my wallet?
First you have to find someone who is trustworthy enough that is selling bitcoin, then ask him if what is the type of transaction that he wants, for you to be able to buy bitcoin to him. But like what the others said already in your post, it would be better if you will have enough knowledge before you buy bitcoin, it is necessary for you to avoid those scammers out there and can't be easily fooled by someone.
I am looking to purchase my first bitcoin. I have the app BTC Wallet, what is the process for acquiring my first bitcoin. Do I give the seller my e-mail address for my wallet?
first think first, what kind of bitcoin wallet you use? to buy bitcoin, you only send your btc wallet address into the seller, you pay the money that equal with the btc amount that you want, wait the process until its completed and you have your first bitcoin in your wallet. you don't have to use or give your email address and that is not necessary unless you want to register in market exchanges and you want to buy bitcoin from that exchanges.
my suggestion is better you find your friend and buy btc from your friends because this is your first time to buy bitcoin. but before you buy bitcoin, just make sure that the price is not too high so you can get much of bitcoin so you sold it when the price is increase soon.
Bitstamp is a good place to buy the first Bitcoin. Very trustful place and very low prices.
I am using a site to buy bitcoins on my own capacity. I know they are trusted because they are partnered with the banks, and remittance centers. I know that I do not need to worry. You should make sure that the site or person you will be getting ypur bitcoin is trusted. Be careful pf the scammers!
Are you really that new? never read or know how bitcoin works before? you can buy bitcoin at your country's local exchange using fiat.
If you are asking what to give the seller to buy bitcoins, you are not ready to make bitcoin transactions yet. Like what they said above, learn everything first. There are lots of good read inbthe beginners section. You can start there. We do not want another user ranting about stolen bitcoins.
Thanks for the advice fellas, I purchased 0.055 bitcoin so far. I paid via paypal friends and family, thankfully the seller is honest. Small transaction. What is the typical premium percentage?
Congratulations, but buying is just the first step. Securing those bitcoins are a whole other matter. If I may ask, how are you storing those bitcoins? < cold storage / online wallet / exchange / desktop wallet / hardware wallet >?
I never store any of my coins in services, where I am not the only person who has access to my private keys. I temporarily hold some coins in services where I do not have sole access to the private keys, but that would only be for trading on regulated exchanges. ^smile^
Do some research and make sure you store some of your coins in secure storage, where you have sole access to your private keys.
I am storing in an app called BTC wallet. I noticed that every time I did a transaction, my address would change. Is that normal?
yes it's normal, it's feature so that one cannot track your transaction history. You can still use the old one though.
I am looking to purchase my first bitcoin. I have the app BTC Wallet, what is the process for acquiring my first bitcoin. Do I give the seller my e-mail address for my wallet?
If you are asking what to give the seller to buy bitcoins, you are not ready to make bitcoin transactions yet. Like what they said above, learn everything first. There are lots of good read inbthe beginners section. You can start there. We do not want another user ranting about stolen bitcoins.
Thanks for the advice fellas, I purchased 0.055 bitcoin so far. I paid via paypal friends and family, thankfully the seller is honest. Small transaction. What is the typical premium percentage?
Congratulations, but buying is just the first step. Securing those bitcoins are a whole other matter. If I may ask, how are you storing those bitcoins? < cold storage / online wallet / exchange / desktop wallet / hardware wallet >?
I never store any of my coins in services, where I am not the only person who has access to my private keys. I temporarily hold some coins in services where I do not have sole access to the private keys, but that would only be for trading on regulated exchanges. ^smile^
Do some research and make sure you store some of your coins in secure storage, where you have sole access to your private keys.
I am storing in an app called BTC wallet. I noticed that every time I did a transaction, my address would change. Is that normal?
yes it's normal, it's feature so that one cannot track your transaction history. You can still use the old one though.
I feel you should really do some good reading from your first post it shows you just heard of Bitcoin and decided to jump in the wagon, it could be risky for you if you decide to do it without proper knowledge. Secondly your question on your changing address shows you really are not even aware of the basis, but as many users have said and I think you would have gotten by now it's normal. I think you will be really better of doing a transaction here rather any where else, one you will be guided by people, two trust rating can help you, plus you can take help of escrow which is a must, yahoo62278 is one whom I can suggest. If you do a transaction outside this forum and things go wrong, no one would be able to help you. Make your transaction wisely.
usa citizens need to use coinbase or in alternative there is localbitcoin, you just need to give your wallet bitcoin adddress to receive your coins
for european i find kraken the bext exchange, no hassles, you do a sepa in 1 business day and buy your amount of coin, after that send them to your local wallet
for european i find kraken the bext exchange, no hassles, you do a sepa in 1 business day and buy your amount of coin, after that send them to your local wallet
I am looking to purchase my first bitcoin. I have the app BTC Wallet, what is the process for acquiring my first bitcoin. Do I give the seller my e-mail address for my wallet?
More study about the information regarding in bitcoin, keep on reading at the bitcointalk forum and ask if it is necessary to the member in the thread, because with this it will benefits you in the long run. Just know the basic usage of bitcoin, basic en cashing of bitcoin etc.
Spend two weeks reading as much as you can (in your free time) to educate yourself about Bitcoin, how it works, how to secure your private keys, etc., before you actually acquire any bitcoins.
If you do that well, you won't need to ask for any more advice.
The most important "rule" in my opinion: If you aren't the sole controller of your private keys, you don't have any bitcoins.
When you are confident that you can explain the above "rule", in detail, to someone else, then you might consider buying some bitcoins.
If you do that well, you won't need to ask for any more advice.
The most important "rule" in my opinion: If you aren't the sole controller of your private keys, you don't have any bitcoins.
When you are confident that you can explain the above "rule", in detail, to someone else, then you might consider buying some bitcoins.
What you said is the perfect reply,
I disagree - that's terrible advice.
I respect Holliday implicitly. However, his advice is completely inapplicable to someone "Looking to purchase my first bit coin". If the proposition was 'looking to put huge fraction of my net worth into Bitcoin', then Holliday's would be appropriate advice. But if everyone looking to kick the tires with a moderate amount of money first spend two weeks studying, most will never make that leap.
The answer for 'first Bitcoin' is something akin to 'create an account on Coinbase, and buy'. Once that is done, the person has 'skin in the game', and an actual concrete incentive to start the process of educating themselves.
By all means, one should spend that effort. But that need not precede My First Bitcoin.
Spend two weeks reading as much as you can (in your free time) to educate yourself about Bitcoin, how it works, how to secure your private keys, etc., before you actually acquire any bitcoins.
If you do that well, you won't need to ask for any more advice.
The most important "rule" in my opinion: If you aren't the sole controller of your private keys, you don't have any bitcoins.
When you are confident that you can explain the above "rule", in detail, to someone else, then you might consider buying some bitcoins.
If you do that well, you won't need to ask for any more advice.
The most important "rule" in my opinion: If you aren't the sole controller of your private keys, you don't have any bitcoins.
When you are confident that you can explain the above "rule", in detail, to someone else, then you might consider buying some bitcoins.
What you said is the perfect reply, because even if anyone gives you full detail you wont be able to understand it properly so better to wait for some time and take time to first get full detail about bitcoin and its process and how to use the wallet, after that when you are fully satisfied go on and buy bitcoin but remember one more thing is just dont go for buying btc in one shot better to split and buy, like buy 20% today and then wait for some days and then buy back 20% if you find the price going down, like this your buying price will also get low as if their is any selling and price is going down then you should be able to buy back and average your buying price.
I trade stocks for a living, I have an idea of this process lol:)
When you factor in the volatility of bitcoin, I'd even go with 10% every month!
Spend two weeks reading as much as you can (in your free time) to educate yourself about Bitcoin, how it works, how to secure your private keys, etc., before you actually acquire any bitcoins.
If you do that well, you won't need to ask for any more advice.
The most important "rule" in my opinion: If you aren't the sole controller of your private keys, you don't have any bitcoins.
When you are confident that you can explain the above "rule", in detail, to someone else, then you might consider buying some bitcoins.
If you do that well, you won't need to ask for any more advice.
The most important "rule" in my opinion: If you aren't the sole controller of your private keys, you don't have any bitcoins.
When you are confident that you can explain the above "rule", in detail, to someone else, then you might consider buying some bitcoins.
What you said is the perfect reply, because even if anyone gives you full detail you wont be able to understand it properly so better to wait for some time and take time to first get full detail about bitcoin and its process and how to use the wallet, after that when you are fully satisfied go on and buy bitcoin but remember one more thing is just dont go for buying btc in one shot better to split and buy, like buy 20% today and then wait for some days and then buy back 20% if you find the price going down, like this your buying price will also get low as if their is any selling and price is going down then you should be able to buy back and average your buying price.
There are many ways to purchase your first bitcoin. You can use either localbitcoin website and find a seller in your area with good reputation or you can use the service of coinbase. In both cases, contact the seller to know their rules and regulation before starting the trade and you should not face any issue.
However, strictly don't use paypal to buy bitcoin because they might block your account for trading crypto currency as it is against their policy. I recommend Coinbase as it is a very old company and trusted one. For localbitcoin, always check the seller reputation and you are good to go.
However, strictly don't use paypal to buy bitcoin because they might block your account for trading crypto currency as it is against their policy. I recommend Coinbase as it is a very old company and trusted one. For localbitcoin, always check the seller reputation and you are good to go.
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