Topic: New to Bitcoin - Need some advice - page 2. (Read 3039 times)
I am also a newbie here. I am fascinated with bitcoin when one of our family member introduced bitcoin to me. He is very patient in mentoring us,and I thank him with that. I like the idea of bitcoin in investment and to earn more. Also the idea o trading and also earning online.
Hello,
I am new to bitcoin, I have managed to set up a wallet on blockchain and on coinbase.
I am also aware of bitaddress and how to upload my wallet to blockchain.
That said, can anyone explain to me the cheapest method of buying BTC?
Also, what is purpose of buying / saving BTC?
How do people go about trading BTC?
Should I be using an online BTC wallet when buying & storing BTC and what one is best if so?
If anyone could give me an inspiring newbies crash course as to why i should be buying BTC and uses / purposes of it along with strategy and practical educational info I would very much appreciate it.
Thanks,
Hero
It is not recommended that you use an online wallet to store your coins, you could use an online wallet with a small amount of bitcoin for stuff you are going to buy but your main stash must be under your control. I am new to bitcoin, I have managed to set up a wallet on blockchain and on coinbase.
I am also aware of bitaddress and how to upload my wallet to blockchain.
That said, can anyone explain to me the cheapest method of buying BTC?
Also, what is purpose of buying / saving BTC?
How do people go about trading BTC?
Should I be using an online BTC wallet when buying & storing BTC and what one is best if so?
If anyone could give me an inspiring newbies crash course as to why i should be buying BTC and uses / purposes of it along with strategy and practical educational info I would very much appreciate it.
Thanks,
Hero
First you should select wallet where you store your bitcoin. You buying some btcoin on coinbase. You try trade some small amount bitcoin. You should not try to bitcoin debit card. Because its fees is high. You also try preserve some bitcoin for future then its price will be higher.
What is purpose of buying / saving BTC?
-To keep your Money or assets from melting against inflation.
-To give your assets to be more valuable.
-To keep your Money or assets from melting against inflation.
-To give your assets to be more valuable.
Hello
Newbie here, i just want to thank you guys for welcoming us here in bitcointalk.
Your responses are very helpful to us. We hope that you guys would guide us and give us some tips regarding the campaigns that we are about to join. Thank you again. More power!
Newbie here, i just want to thank you guys for welcoming us here in bitcointalk.
Your responses are very helpful to us. We hope that you guys would guide us and give us some tips regarding the campaigns that we are about to join. Thank you again. More power!
Bitstamp is the way to exchange your fiat into BTC.
Hello,
I am new to bitcoin, I have managed to set up a wallet on blockchain and on coinbase.
I am also aware of bitaddress and how to upload my wallet to blockchain.
That said, can anyone explain to me the cheapest method of buying BTC?
Also, what is purpose of buying / saving BTC?
How do people go about trading BTC?
Should I be using an online BTC wallet when buying & storing BTC and what one is best if so?
If anyone could give me an inspiring newbies crash course as to why i should be buying BTC and uses / purposes of it along with strategy and practical educational info I would very much appreciate it.
Thanks,
Hero
I am new to bitcoin, I have managed to set up a wallet on blockchain and on coinbase.
I am also aware of bitaddress and how to upload my wallet to blockchain.
That said, can anyone explain to me the cheapest method of buying BTC?
Also, what is purpose of buying / saving BTC?
How do people go about trading BTC?
Should I be using an online BTC wallet when buying & storing BTC and what one is best if so?
If anyone could give me an inspiring newbies crash course as to why i should be buying BTC and uses / purposes of it along with strategy and practical educational info I would very much appreciate it.
Thanks,
Hero
You can earn Bitcoin in different ways ranging from high pay to low pay and also from high risk to risk so better be wise and learn the essentials of Bitcoin before proceeding to a riskier environment.
Thank you so much guys! Loads of valuable advice - Thank you! 
I'm starting to piece it all together, I think!
I'm starting to piece it all together, I think!
First i will recommend you to not use web wallet to store your bitcoin as it is not safe as you are not in control of your wallet and if anything happens to the site all your bitcoins will be lost. So better go for desktop wallet like electrum which is very easy to use it. You just have to save your passphrase of electrum wallet when you created so when ever you want you can reconstruct the old wallet with the help of passphrase but warning if you lost the passphrase then it will become difficult to recover the wallet.
For trading in bitcoins or buying bitcoin for longterm investment then you can go with localbitcoins.com site which is supporting the all country users who are dealing with bank transfer which is more safe better then using debit or credit card.
For trading in bitcoins or buying bitcoin for longterm investment then you can go with localbitcoins.com site which is supporting the all country users who are dealing with bank transfer which is more safe better then using debit or credit card.
Hello,
I am new to bitcoin, I have managed to set up a wallet on blockchain and on coinbase.
I am also aware of bitaddress and how to upload my wallet to blockchain.
That said, can anyone explain to me the cheapest method of buying BTC?
Also, what is purpose of buying / saving BTC?
How do people go about trading BTC?
Should I be using an online BTC wallet when buying & storing BTC and what one is best if so?
If anyone could give me an inspiring newbies crash course as to why i should be buying BTC and uses / purposes of it along with strategy and practical educational info I would very much appreciate it.
Thanks,
Hero
I am new to bitcoin, I have managed to set up a wallet on blockchain and on coinbase.
I am also aware of bitaddress and how to upload my wallet to blockchain.
That said, can anyone explain to me the cheapest method of buying BTC?
Also, what is purpose of buying / saving BTC?
How do people go about trading BTC?
Should I be using an online BTC wallet when buying & storing BTC and what one is best if so?
If anyone could give me an inspiring newbies crash course as to why i should be buying BTC and uses / purposes of it along with strategy and practical educational info I would very much appreciate it.
Thanks,
Hero
Remember to factor the exchange rate being offered when buying or selling (this can vary by provider), in addition to the trading fees - it could make a big difference. So, cheapest does not just mean look at the fees involved... look at the exchange rate offered too.
That said, can anyone explain to me the cheapest method of buying BTC?
Also, what is purpose of buying / saving BTC?
Cheapest buying... just buy on exchange that has lowest price (and easy payment in and out options).Also, what is purpose of buying / saving BTC?
Purpose is various for various people. Mostly its for investing purpose, as store of value or as currency.
Hello,
I am new to bitcoin, I have managed to set up a wallet on blockchain and on coinbase.
I am also aware of bitaddress and how to upload my wallet to blockchain.
That said, can anyone explain to me the cheapest method of buying BTC?
Also, what is purpose of buying / saving BTC?
How do people go about trading BTC?
Should I be using an online BTC wallet when buying & storing BTC and what one is best if so?
If anyone could give me an inspiring newbies crash course as to why i should be buying BTC and uses / purposes of it along with strategy and practical educational info I would very much appreciate it.
Thanks,
Hero
I am new to bitcoin, I have managed to set up a wallet on blockchain and on coinbase.
I am also aware of bitaddress and how to upload my wallet to blockchain.
That said, can anyone explain to me the cheapest method of buying BTC?
Also, what is purpose of buying / saving BTC?
How do people go about trading BTC?
Should I be using an online BTC wallet when buying & storing BTC and what one is best if so?
If anyone could give me an inspiring newbies crash course as to why i should be buying BTC and uses / purposes of it along with strategy and practical educational info I would very much appreciate it.
Thanks,
Hero
If you want to just buy bitcoins, you can use Coinbase or localbitcoins. For trading, try to find an exchange that meets your trading needs and try out some trades with small amounts.
Thank you very much for your responses thus far, very much appreciated.
I have just a bank account with debit card, I have skrill also linked to same debit card.
Is debit card a weak way of buying btc? If so, what are the other methods generally used to buy btc from experienced btc users?
To be honest, I always thought that debit card is not a good way to obtain any bitcoins, you need to pay such a high commision that im avoiding buying BTC with that option.I have just a bank account with debit card, I have skrill also linked to same debit card.
Is debit card a weak way of buying btc? If so, what are the other methods generally used to buy btc from experienced btc users?
I recommend you just using your bank account, and using normal bank transfer to the website which will convert the money to bitcoin.
If you are able to, you may also use dotpay if the company from which u buy btc has the agreement with them.
Dont use ATMs too, the fee on them is around 7% to buy even some btcs!
You mean to exchange the bitcoins right instead to getting the Bitcoin debit card. Actually you have said correct. If we own the bitcoin debit card, we need to pay charge monthly handling fees. Some the debit card companies are charging to use the card in the ATM. Those would you more the amount you loose in exchanging fee. If he has enough money waste to give the fees. I can request for donation for my business;)
Hello,
I am new to bitcoin, I have managed to set up a wallet on blockchain and on coinbase.
Even though there weren't any major problems (like hack and BTC theft) with those wallet operators (blockchain.info might be a little glitchy sometimes)I am new to bitcoin, I have managed to set up a wallet on blockchain and on coinbase.
To achieve full security it is advised to not store your Bitcoin online, especially not big amount.
That said, can anyone explain to me the cheapest method of buying BTC?
I can tell you which methods are definietly not good. Using PayPal, Debit/Credit cards sometimes Bitcoin ATMs is not advised.The fees might be too much to handle even in some cases up to 20%. Your best bet is to use standard bitcoin exchange.
Be wary that there is no one universal price of BTC and price might be slightly different, depending on the exchange.
Also, what is purpose of buying / saving BTC?
Look up price charts of BTC. See how bitcoin price is constantly growing? Bitcoin limited token supply creates situation where your coins will be worth slightly more over time.
Buying and holding BTC to sell/buy something with it in the future is the main reason people own BTC.
Thank you very much for your responses thus far, very much appreciated.
I have just a bank account with debit card, I have skrill also linked to same debit card.
Is debit card a weak way of buying btc? If so, what are the other methods generally used to buy btc from experienced btc users?
To be honest, I always thought that debit card is not a good way to obtain any bitcoins, you need to pay such a high commision that im avoiding buying BTC with that option.I have just a bank account with debit card, I have skrill also linked to same debit card.
Is debit card a weak way of buying btc? If so, what are the other methods generally used to buy btc from experienced btc users?
I recommend you just using your bank account, and using normal bank transfer to the website which will convert the money to bitcoin.
If you are able to, you may also use dotpay if the company from which u buy btc has the agreement with them.
Dont use ATMs too, the fee on them is around 7% to buy even some btcs!
Hello,
I am new to bitcoin, I have managed to set up a wallet on blockchain and on coinbase.
I am also aware of bitaddress and how to upload my wallet to blockchain.
That said, can anyone explain to me the cheapest method of buying BTC?
Also, what is purpose of buying / saving BTC?
How do people go about trading BTC?
Should I be using an online BTC wallet when buying & storing BTC and what one is best if so?
If anyone could give me an inspiring newbies crash course as to why i should be buying BTC and uses / purposes of it along with strategy and practical educational info I would very much appreciate it.
Thanks,
Hero
I am new to bitcoin, I have managed to set up a wallet on blockchain and on coinbase.
I am also aware of bitaddress and how to upload my wallet to blockchain.
That said, can anyone explain to me the cheapest method of buying BTC?
Also, what is purpose of buying / saving BTC?
How do people go about trading BTC?
Should I be using an online BTC wallet when buying & storing BTC and what one is best if so?
If anyone could give me an inspiring newbies crash course as to why i should be buying BTC and uses / purposes of it along with strategy and practical educational info I would very much appreciate it.
Thanks,
Hero
- the cheapest.. I wouldn't know but the best might be from localbitcoins website or here on the forum maybe with an escrow.
Well since bitcoin is expected to rise in price by far above 200% by the end of the year (just a speculation), so if you buy it now for 1.2k$ and hold it for a few years, you'll get a huge profit and that's why people are mostly buying and holding btc now.
I've been using blockchian.info wallet ever since I've got into bitcoin and that was a few years back and I've never had any problems with that wallet whatsoever, tho I'm trading with lower amounts like up to 20$ but if you'll be doing with some greater amounts, I'd suggest you to get a desktop wallet (online wallets can be just as secure if you take care of its security).
Well that's mostly simple logic like buy for low, hold, sell for a higher price.
you should visit this website bitcoin.org , you will find all info you need
The Bitcoin wikipedia is also another useful site:
https://en.bitcoin.it/wiki/Main_Page
There is a lot of information on that site, and the best thing is that they update the information regularly.
you should visit this website bitcoin.org , you will find all info you need
If you verify your identity with all the methods on coin base and add a credit card you will have instant btc purchases for 1% fee up to a pretty good limit.Sign up for GDAX after that for the exchange style order book and lower fees.
you should visit this website bitcoin.org , you will find all info you need
Hello,
I am new to bitcoin, I have managed to set up a wallet on blockchain and on coinbase.
I am also aware of bitaddress and how to upload my wallet to blockchain.
That said, can anyone explain to me the cheapest method of buying BTC?
Also, what is purpose of buying / saving BTC?
How do people go about trading BTC?
Should I be using an online BTC wallet when buying & storing BTC and what one is best if so?
If anyone could give me an inspiring newbies crash course as to why i should be buying BTC and uses / purposes of it along with strategy and practical educational info I would very much appreciate it.
Thanks,
Hero
You can choose many different ways to acquire some bitcoins, for example you can buy them directly from the people that have it, and living in the same city. A good site to conduct these sort of trades is localbitcoins.comI am new to bitcoin, I have managed to set up a wallet on blockchain and on coinbase.
I am also aware of bitaddress and how to upload my wallet to blockchain.
That said, can anyone explain to me the cheapest method of buying BTC?
Also, what is purpose of buying / saving BTC?
How do people go about trading BTC?
Should I be using an online BTC wallet when buying & storing BTC and what one is best if so?
If anyone could give me an inspiring newbies crash course as to why i should be buying BTC and uses / purposes of it along with strategy and practical educational info I would very much appreciate it.
Thanks,
Hero
There is also a possibility to buy bitcoins through cryptocurrency exchange, but you need bank account for that, to have a chance to pay for bitcoins, unless you have money at paypal. If you have Paypal you are likely to have to submit verification.
Bitcoins ATMs are kind of expensive because they change the fee, the average is somewhere close to 7% so i dont recommend that.
Jump to: