Topic: new to bitcoin, don't know how to use (Read 255 times)
First thing to do after researching enough to enter BTC, you need to set up an account to hold your BTC. After that its either you will use it to hold or for trading. There are things that you can use btc, some countries are using it as currency while some are not. You need to have a good research about it first in order for you not to lose a big amount of money.
when you want to do that, I think it's simply an investment for the long term when you still don't really understand but want to get involved here.
but even though it's simple to do, actually there are several considerations and some conditions for it.
one of them is that you can't use your fiat wallet while on this path and maybe you should try to find a new wallet that is proven.
I think Binance might be very good for you because apart from being simple there are also several features that can help you to make it easier to be on this path.
What is emphasized is maybe not to be too rash and not to be too greedy in finances when you are here, because you just make a little mistake and get caught a little bit, the scammers are always ready to come for you and take your money.
but even though it's simple to do, actually there are several considerations and some conditions for it.
one of them is that you can't use your fiat wallet while on this path and maybe you should try to find a new wallet that is proven.
I think Binance might be very good for you because apart from being simple there are also several features that can help you to make it easier to be on this path.
What is emphasized is maybe not to be too rash and not to be too greedy in finances when you are here, because you just make a little mistake and get caught a little bit, the scammers are always ready to come for you and take your money.
We can also use bitcoin wisely for long-term investments. Along with the rapid increase in the price of bitcoin, many investors are starting to shift their funds to bitcoin instruments. This is clear, because the offer of significant profits and the transaction process as well as transparent price movements. During the Covid-19 pandemic in 2020 ago, it was noted that the price of bitcoin was increasing, and this continues to this day. Therefore, bitcoin has the potential to be used as a long-term investment
If you want to collect bitcoins then you have to first create your personal wallet to store bitcoin, and you have to store private keys well, then every want to follow a project that pays for bitcoin then do not forget to give your wallet address, but it would be nice for you to learn first how to use bitcoin in making every transaction and how to store personal data so that later the gift you receive can be used well without losing any assets, And you have to be very careful because in the crypto world many scamers want to seize your assets.
ready to buy my wallet so I can collect from offshore gambling. no fees when using bitcoin so I want to understand how to receive and then turn to cash when I get paid out. I am an older fella and feel kind of foolish not understanding how this all works, but would appreciate any and all help someone could provide, even if just a website that explains it all, especially how I get these funds into my regular bank acct
Hi there OP, as a beginner you need to fully understand how this world works and the risks of it so that you can't easily baited by scammers. For starters, please watch some videos in Youtube. I recommend you to search the channel named 99bitcoins, he can help you learn from time to time and do some research for further knowledge.
Here's the link:
https://youtu.be/41JCpzvnn_0
https://youtu.be/A1Pl5hYHXiI
First: just start by learning how to install a bitcoin wallet, then learn how to use it.
--> Go to bitcoin.org ... Then select "choose your wallet". I'd recommend the electrum wallet.
Second: you'll have to choose a bitcoin exchange (to exchange cash for bitcoin, and vice versa). This may depend on where you live.
--> Here in the US we have: gemini, kraken, or binance, there are others. (stay away from coinbase)
Third: you can ignore the rest, it's just fluff and not really necessary.
--> Go to bitcoin.org ... Then select "choose your wallet". I'd recommend the electrum wallet.
Second: you'll have to choose a bitcoin exchange (to exchange cash for bitcoin, and vice versa). This may depend on where you live.
--> Here in the US we have: gemini, kraken, or binance, there are others. (stay away from coinbase)
Third: you can ignore the rest, it's just fluff and not really necessary.
i think if you are new to bitcoin, the best way for you to learn is to do some research first before you engage into some transactions or any other services, because once you let go of your bitcoin you can never get it back and also newcomers are very prone to scammers. so equip yourself with the right knowledge first before delving any deeper
That depends, it seems that OP is being too hasty to learn so OP might not even care about learning some more, plus this is the worst thing that OP could do, ask information about bitcoin from other people that has a subjective information so it might not work for them.
First, you will need an exchange that is operating in your region once you open an account with the exchange you can thereafter send your Bitcoin from your wallet to your exchange wallet, on the exchange you can trade your Bitcoin to your local bank currency and thereafter sending the money to your bank account.
ready to buy my wallet so I can collect from offshore gambling. no fees when using bitcoin so I want to understand how to receive and then turn to cash when I get paid out. I am an older fella and feel kind of foolish not understanding how this all works, but would appreciate any and all help someone could provide, even if just a website that explains it all, especially how I get these funds into my regular bank acct
First of all don't be confused, as you are cool in any case because you decided to change a bit your way to earning money. Secondly, you can't use a bank account for crypto. You need a cold (off-line like ledger) or hot wallet (online like trust wallet). To get Bitcoin you can use an exchange (Binance, Huobi etc) or use a P2P platform (BestChange).
i think if you are new to bitcoin, the best way for you to learn is to do some research first before you engage into some transactions or any other services, because once you let go of your bitcoin you can never get it back and also newcomers are very prone to scammers. so equip yourself with the right knowledge first before delving any deeper
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ready to buy my wallet so I can collect from offshore gambling. no fees when using bitcoin so I want to understand how to receive and then turn to cash when I get paid out. I am an older fella and feel kind of foolish not understanding how this all works, but would appreciate any and all help someone could provide, even if just a website that explains it all, especially how I get these funds into my regular bank acct
I will advise you to first understand how to use both Bitcoin and crypto-wallets. By the way, you also need to understand the rules and regulations of offshore gambling because in the crypto world everything with a great opportunity also comes with great risk.Having said that, you can read to understand what Bitcoin and blockchain through this binance academy link while you learn about the crypto wallet here. However, here is a guide for Electrum wallet which is the most recommended soft wallet, and for a hardware wallet, you can go for ledger wallet but don't buy NanO X
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You do not need to buy a wallet because you can install your own wallet on your phone. You have many personal wallets that you can use to send and receive bitcoin from anywhere and you do not have to think about the fee because it is already set by default from the wallet. The fee will adjust by itself and you only need to write the amount you want to send.
To get those funds, you need to register on the exchange and send the money there and then you can sell it at the market and send it to your banks. Most exchanges now require you to do KYC before you can send it to your banks. You can use the Decentralized Exchange like what other members said, so you do not have to bother verifying your account.
To get those funds, you need to register on the exchange and send the money there and then you can sell it at the market and send it to your banks. Most exchanges now require you to do KYC before you can send it to your banks. You can use the Decentralized Exchange like what other members said, so you do not have to bother verifying your account.
Bitcoin is currently used for investment. So the use is to hold bitcoin and develop it, such as from mining, programming and also trading. There bitcoin can be developed and its value will increase from the estimated price of fiat. Although bitcoin itself remains at its value.
This applies to the people that see Bitcoin as an asset but if we want Bitcoin to fully fulfil its functional base on Satoshi Nakamoto vision, as stated in his mail archive. Bitcoin is not just for investment, holding to accumulate more, it is also a currency and if it not use as currency it wont be mainstream of payment in the future. 
Bitcoin is currently used for investment. So the use is to hold bitcoin and develop it, such as from mining, programming and also trading. There bitcoin can be developed and its value will increase from the estimated price of fiat. Although bitcoin itself remains at its value.
ready to buy my wallet so I can collect from offshore gambling. no fees when using bitcoin so I want to understand how to receive and then turn to cash when I get paid out. I am an older fella and feel kind of foolish not understanding how this all works, but would appreciate any and all help someone could provide, even if just a website that explains it all, especially how I get these funds into my regular bank acct
very easy, does your wallet have private keys? Or do you have bitcoins on your gambling website? if the number one question, you just withdraw or transfer your bitcoins to the exchange, then exchange your bitcoins with your currency. if question number two, you have to ask the owner of the website, about bitcoin withdrawals, all fees or gas, I know the gas fee for bitcoin withdrawals is quite expensive. I hope you are careful with other people's modes who want to help your withdrawal. ready to buy my wallet so I can collect from offshore gambling. no fees when using bitcoin so I want to understand how to receive and then turn to cash when I get paid out. I am an older fella and feel kind of foolish not understanding how this all works, but would appreciate any and all help someone could provide, even if just a website that explains it all, especially how I get these funds into my regular bank acct
Do you already own a bitcoin wallet to direct your winnings and/or compensations? If you don't have one just yet, you can research which is the best platform for you. You can check different apps and narrow down the list based on your preferences and needs. You can utilize the resources you have such as your gadget and internet to make an account and on how to transfer funds. You can read articles and watch videos tutorial on YouTube. Since almost everything is uploaded on YouTube already. That way, you can guarantee that you will not be scammed by someone and you can be familiar with the runaround of the processes. So next time, you can do it with ease. Do not entertain people who private messaged you to help because most likely they'll just deceive you because they know lack the knowledge. It's much better to do it on your own with the help of tutorials and articles.
Don't be discouraged, stay optimistic, and consistent from everything you want to learn and want to deepen, it is also important if you can control emotions in the Bitcoin sphere. In this case.. the more experience, the more knowledge you can gain and you can avoid certain serious risks/frauds.
OP, a good start.
https://bitcoin.org/en/getting-started
https://bitcoin.org/en/getting-started
It looks like the OP wants to simply receive Bitcoin to turn into Cash. The simplest way
to do this is to register on an exchange and transfer the Bitcoin to FIAT. This will mean
completing KYC or AML which can result in taxes to be paid, but no need to own a
wallet because a Bitcoin address can be generated on the online exchange account.
Owning a wallet hardware or otherwise is a little more involved. While you are
taking ownership of the Bitcoin contained within you will also have to consider
storage of the private keys and password to the wallet in case of an unforseen
event which renders it unuseable or it gets lost.
to do this is to register on an exchange and transfer the Bitcoin to FIAT. This will mean
completing KYC or AML which can result in taxes to be paid, but no need to own a
wallet because a Bitcoin address can be generated on the online exchange account.
Owning a wallet hardware or otherwise is a little more involved. While you are
taking ownership of the Bitcoin contained within you will also have to consider
storage of the private keys and password to the wallet in case of an unforseen
event which renders it unuseable or it gets lost.
He mentioned that he is ready to receive bitcoin. So as a beginner, I don't think buying hardware wallet is the best option.
He can download the electrum wallet here - https://electrum.org/#download, and install what is applicable to his system.
Generate his bitcoin address (there are so many tutorials already in this forum) - https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151.
And then, it depends on where he is residing right now as there are already local crypto exchanges that he can send his btc.
Look for local crypto exchange and check their requirements how to create your account.
This is one of the easiest ways to convert your crypto to your fiat. Otherwise, binance has p2p trading and look for your currency if it is available for trading - https://p2p.binance.com/en.
He can download the electrum wallet here - https://electrum.org/#download, and install what is applicable to his system.
Generate his bitcoin address (there are so many tutorials already in this forum) - https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151.
And then, it depends on where he is residing right now as there are already local crypto exchanges that he can send his btc.
Look for local crypto exchange and check their requirements how to create your account.
This is one of the easiest ways to convert your crypto to your fiat. Otherwise, binance has p2p trading and look for your currency if it is available for trading - https://p2p.binance.com/en.
Lots of knowledge is given in this forum, if you want to read you can learn here. After that you can start, everything will work and you will understand it along with your knowledge and experience. What is certain is don't be afraid to try and be careful, don't trust anyone. Many scammers are still on the loose.
Yes, the right way to approach this for a newbie like OP is to increase his knowledge about crypto first. He should browse the different sections of Bitcointalk as per his need.
Once he had learnt the basics, then only he should go for buying bitcoins or trading.
Lots of knowledge is given in this forum, if you want to read you can learn here. After that you can start, everything will work and you will understand it along with your knowledge and experience. What is certain is don't be afraid to try and be careful, don't trust anyone. Many scammers are still on the loose.
I in my own idea firstly, you will need to set your goals about why do you want from Bitcoin. Some people are using bitcoin as a payment system and they are not investors, they only use bitcoin because they don't want their transactions to be tracked by governments. Some others are traders and they buy/sell bitcoins daily or weekly to get benefits and earn some more. But some other are long term investors and I suggest you to chose this one if you want you chose this way you will have easier way because all you need to do is to find some local crypto exchange and buy some bitcoins for cash or alternatively, you can find some other trader and do a p2p exchange with him. However, before anything you will need to read some articles about bitcoin to get more knowledge and know what you are buying.
I'm not so sure the OP can't operate the Bitcoins he owns at all. If at first glance you come to the forum so far you are still wondering about this. Whether it's a coincidence or not, I'm just suggesting that you register on an exchange and then send your Bitcoins to a Bitcoin address on the exchange. Don't trust scammers who will contact you via any message.
How far along in the process are you? Do you have a bitcoin wallet yet?
The basic process is that you would set up a bitcoin wallet and provide one of your addresses to the gambling site, which would then transfer your winnings to that address. Once the bitcoin are in your wallet, you can either spend them with any merchant who accepts bitcoin, or you can trade them for fiat such as USD using an online exchange or trading directly with another person.
This site would be a good place to start to get some more info: https://learnmeabitcoin.com/beginners/
The basic process is that you would set up a bitcoin wallet and provide one of your addresses to the gambling site, which would then transfer your winnings to that address. Once the bitcoin are in your wallet, you can either spend them with any merchant who accepts bitcoin, or you can trade them for fiat such as USD using an online exchange or trading directly with another person.
This site would be a good place to start to get some more info: https://learnmeabitcoin.com/beginners/
This is good advice.
OP, if you receive any unsolicited private messages from people offering to ‘help’ then ignore them. They are most likely scammers, trying to deceive you to possibly steal your funds.
by this time he probably recieved onr already.
its best to just learn it himself by watching youtube tutorials. becuase if he managed to have registered in bitcointalk that means he know pretty well how to operate a computer or learn an app or program.
if you have a wallet all you need to learn is your recieving BTC address and then you can give that address to someone you want to invoice.
How far along in the process are you? Do you have a bitcoin wallet yet?
The basic process is that you would set up a bitcoin wallet and provide one of your addresses to the gambling site, which would then transfer your winnings to that address. Once the bitcoin are in your wallet, you can either spend them with any merchant who accepts bitcoin, or you can trade them for fiat such as USD using an online exchange or trading directly with another person.
This site would be a good place to start to get some more info: https://learnmeabitcoin.com/beginners/
The basic process is that you would set up a bitcoin wallet and provide one of your addresses to the gambling site, which would then transfer your winnings to that address. Once the bitcoin are in your wallet, you can either spend them with any merchant who accepts bitcoin, or you can trade them for fiat such as USD using an online exchange or trading directly with another person.
This site would be a good place to start to get some more info: https://learnmeabitcoin.com/beginners/
This is good advice.
OP, if you receive any unsolicited private messages from people offering to ‘help’ then ignore them. They are most likely scammers, trying to deceive you to possibly steal your funds.
How far along in the process are you? Do you have a bitcoin wallet yet?
The basic process is that you would set up a bitcoin wallet and provide one of your addresses to the gambling site, which would then transfer your winnings to that address. Once the bitcoin are in your wallet, you can either spend them with any merchant who accepts bitcoin, or you can trade them for fiat such as USD using an online exchange or trading directly with another person.
This site would be a good place to start to get some more info: https://learnmeabitcoin.com/beginners/
The basic process is that you would set up a bitcoin wallet and provide one of your addresses to the gambling site, which would then transfer your winnings to that address. Once the bitcoin are in your wallet, you can either spend them with any merchant who accepts bitcoin, or you can trade them for fiat such as USD using an online exchange or trading directly with another person.
This site would be a good place to start to get some more info: https://learnmeabitcoin.com/beginners/
if you already have bitcoins and are just cashing into your currency i think you can open a trading account that supports your live currency but most trading exchanges use USDT for their fiat
without having to make a special wallet
maybe other than me someone can explain in detail
Honestly, I'm a little confused about what you want, I hope my answer can help
without having to make a special wallet
maybe other than me someone can explain in detail
Honestly, I'm a little confused about what you want, I hope my answer can help
ready to buy my wallet so I can collect from offshore gambling. no fees when using bitcoin so I want to understand how to receive and then turn to cash when I get paid out. I am an older fella and feel kind of foolish not understanding how this all works, but would appreciate any and all help someone could provide, even if just a website that explains it all, especially how I get these funds into my regular bank acct
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