Topic: Newbie here, bought bitcoin, what next? (Read 458 times)

In addition to bitcoin, as the main cryptocurrency, I suggest you invest into privacy altcoins. Privacy altcoins proved that they will always remain relevant as there is consistent market demeand. Do your research and look for open-source altcoins that are decentralized and provide true user anonymity. I recommend checking DeepOnion, which provides true anonymity by integrating Tor with OBFS4 bridges and MEEK to circumvent ISPs. The developers achieved huge milestones in a short timeframe and the future is very promising, check their development when you get a chance. Stack some ONION and join the AirDrop for more free ONION.

How can i buy btcoin? 😊

if you want you can hold and sell it when the value is getting higher or invest it.

Bitcoin is another form of money and now it depends on you that what you are willing to do with your money. People generally spend their Bitcoins to pay the bills of goods and services, trading in altcoins, investing for the long term etc. Take a deep breath and start exploring the opportunities of using your Bitcoin.

However, I would not recommend you to hold your Bitcoin on the web account, either buy hardware wallet like Trezor or generate a paper wallet to keep your Bitcoins.

well, I guess the best teacher is experience..or such forums as this one

still if we speak about altcoins - then yes, I agree that it's right time to jump in. As for me altcoins sometimes are more volatile than btc itself.
I exchanged part of my btc for neo couple of days ago at coinmonkey.io. neo was announced to be the only one A status coin by Weiss. So, suppose that means Something!

Much better to buy more altscoin while in dump the HOLD til the right time to sell..if you interested to trade.then buy low sell high..for more learning how it is utube is the best teacher.

What for should we buy more BTC, if there is a plenty of good altcoins that can be a better option for investing? Especially for a sort term. I suppose the best think to do after buying Bitcoin is analyzing the market and choosing the next coins to obtain.

Thank you so much guys for your guidance xxx
I feel lot of support here

 you made a great choice by investing amount in bitcoins but challenge is how to ensure your investment  multiplies many folds
Would suggest following mix and match approach

1. Do not do anything , keep adding month on month what you are comfortable with and  wait for one to two years  for  the price of bitcoin to rise .
2.Invest in ICOs build your team and earn Alt coins through them , wait for Alt coin to appreciate sell them convert to BTC
3. Convert if you have enough bitcoins to  altcoins  like ETH, Ripple ,Bitcoin cash ( do lot of research) sell them convert to BTC

no one can predict what is right or wrong suggest beginners to invest only what they can afford to loose , avoid greediness and last but not te least do lot of research

hold them and do something else for example joining bounty program etc

Hold it, trade it, buy something, send it to someone, trade it, gamble with it.  It's your money so do whatever you want with it.  Personally I would trade it for another coin because the bitcoin community is very slow to innovate and h

Keep it. If possible, try to buy some more. And always keep track of the value of the Bitcoin. You will know what to do.

Trading is not so simple. Be sure you know some basics, it's not for everyone. You need to have some strategy and rules to prevent panic.

Op has the expectation to make a big profit through bitcoin. For this the only possibility is through holding the same for a much longer time period. At least the user should hold it for five years or more to get the best out of the 0.5btc that has been bought now.

Hope you know a lot of things about bitcoin. First thing is you should know about the things you invest in. Then when you have done that you have basically two options:

1. Investing (holding). Make fundamental analysis and invest in the coins you believe in. Hold for at least a year
2. Trading. Learn technical analysis and start trading. Just do not daytrade. Few people can make money like that.

I would recommend to leave at least a half in bitcoin

1. you can invest it (hold it for future)
2. or you can trade, trading is not so simple, and there are so many crypto coins..
better try demo mode first

Hi I think the question is very subjective and generic.
First of all I would say study a lot before doing anything
Then move your bitcoin to a secure wallet
Then study and DYOR again about digital assets in general and then decide if you are going to diversify your investment or hodling your bitcoins till the rest of your life

It depends by tbe purpouse of your investment that at the moment as you say is pure speculation, but maybe if you learn more and listen to veterans, follow good accounts on crypto twitter, DYOR and so on, you will find out some more from the blockchain revolution and understand the big potencial of your investment in the long therm
Good luck

Good advice. Don't hope to be rich at one night through crypto investment. As you have bought BTC at a good price, then hold it, be patient, sell it at a nice price, then be patient waiting for a while, buy again at a lower price... 

Not all lending platforms are equal or scams. Lending platforms such as ETHLend, SALT and Debitum Network are legit. The scammy ones normally promise interest rate payments of 1% a day (or 30% per month), etc.

First of all, if you want to be a successfull you should need patience. This is the basic things for trading. Before investing money you should do research on that money. I think this is the right place to learn and improve yourslef. Just go to Trading discussion session read other post and gain knowlege. Instead of keeping all the money in sigle coin, better split into other altcoins.

I personally prefer these top 5 altcoin for investment.

1. Ethereum
2. NEO
3. XRP
4. ADA
5. IOTA

Now that you have bought BTC, I would recommend you to exchange it for DeepOnion. It's one of the best project out there. Check out https://DeepOnion.org
We have airdrop too. Checkout the link and know how it participate in the airdrops.

I think you need a strategy and plan. Short or long term investment. In my opinion, BTC is suitable for long term investment.

you will need time, patience, and money which you already have. now you can wait for bitcoin goes high or you can buy altcoin which has a potential to increase someday. im not really doing this but my friend does so as i observe they were just waiting on thier satisfaction of the price of thier altcoin and they will sell it soon if it reach their satisfaction. thats what i can share for you.

this helps

1. Search the alts you're interested in buying using CoinMarketCap and check the "Markets" tab on each of them to see where they're being traded.
2. Sign up on those exchanges.
3. Find out what trading pairs are available to buy the alt (BTC/alt, ETH/alt, LTC/alt for example).
You're hoping for LTC pairings which are the cheapest and fastest. Eth is 2nd, BTC is 3rd. There are other trading pair coins on some exchanges, but these 3 are the usual suspects.
4. Deposit coins from the cbase wallet to the other exchange(s), and look up a video on youtube to learn how to trade on whatever exchange(s) you signed up for.

Bitcoin is on the rise

Hold your bitcoin until the price rises. Then it's your choice whether you are contented with the profit then you can convert back to USD or your local currency.

well, once you bought it - kepp it (read: hodl).
once you see it's fluctuating and your profit is floating constantly - then you can think about purchasing more coins.
definitely I would recommend you to check some aggregators like coinmonkey.io for exchanging BTC to other coins and vice versa. they aggregate rates from major exchanges and you always see best rates.

Thank you so much guys, a lot useful information here! I'll get onto educating myself on bitcoin trading! I have made myself a paper wallet for now, looking at buying Ledger or Trezor.

Indeed, crypto isn't an easy 'get rich, fast' investment. learn how to interpret graphics on babypips.com and then try your luck to anticipate trends. Prepare to lose a lot before being a good trader. Never invest more than you can afford to lose.

here's what you should not do - do not put it in lending platforms

It depends on your plans, what is your plan. What the purpose of buying bitcoin. Do you want to be a trader or just investing?
1. If you prefer to be an investors, keep safe your newly bought btc and keep it for years. When you have another money and btc price is low, its your chance to buy more btc.
2. If you want to be a trader, you can choose do you want to trade only at bitcoin or you able to split your btc to buy alt coins, try to forecasting and pick coins that have a good prospect and have a cheap price. Do not put all your money in one coins, buy different coins and the amount depend on your behalf.
Wait until the price rises, and when to sell is on your choice.

Here is a list of free Bitcoin and Cryptocurrency Courses on Udemy https://www.freecoursedaily.com/top-free-bitcoin-cryptocurrency-courses-udemy/

trade it using Paxful.com

From my point of view, I can see that putting half in a safe place for later growth of BTC, if you have patience and wait for the growth of BTC. And another part invest in verified currency on the market.
And either to ETH XMR, LTC and XRP. I see this step for long-term profit. The second option is to buy the new currency and wait for it to grow. But think twice before you choose and please consult about it as much as possible.

Crypto isnt easy to understand and isnt a easy and fast investment. You need to read and research to learn more about it to understand it very well. Everyone has their own coins and altcoins that they prefer over others or think will be a good investment. Everyone has a different opinion so if you ask people which coins to invest in everyone will tell you something different since their plans are different. When investing in a coin make sure to read their white paper and understand the point of their project, that will help you decide if you should invest or not!

There are several free courses on the internet:

https://www.coursera.org/learn/cryptocurrency - an 11-week online course by Princeton. I haven't tried this myself yet, but I've heard great things about it. You'll probably learn everything you need to know about Bitcoin and its underlying technology if you finish this.

https://www.edx.org/course/industry-4-0-how-revolutionize-business-hkpolyux-i4-0x - discusses how Bitcoin and other emerging technologies can help you revolutionize your business. If you want to learn how to earn with Bitcoin, this might be beneficial to you.

I'm sure there are others, but those would be excellent places to start if you want to learn. Try not to get into crypto investment classes as a large majority of those are scams. You're much better of gaining knowledge on your own and applying it to your portfolio.

Diversification is important so that you are not reliant on one coin or market. You will need a strong stomach if you only hold bitcoin unless you do as some stated here, download the cold wallet, encrypt(don't lose your private key), and hold. Close the wallet and don't look at the price for a couple years to save the stress from volatility.

By diversification I mean finding the best altcoins, or what you view as the best. Do not trust hype or pumps, find technology and invest in what you think the world would use. Stick with only reputable exchanges like Bittrex or Binance, I definitely recommend against stocks.exchange.

A brief overview of the tech and the coins that brought them about that might get you started, newer alts are beginning to combine the tech and keep your eyes out for new improved ideas:

Bitcoin - Father of Crypro, first one and the largest market cap. Tech is simple and outdated.
Ethereum - Implemented Smart Contracts
Monero - First true privacy coin
Dash - Implemented Masternodes which speed up transaction times and pay dividends

Most altcoins are either a fork or clone of one of the above. Things to look for are mobile implementation(completed mobile wallets not "future implementations"), stable methods of minting, and actual real teams that are completing what they say they will. Small pre-mines are also very important. A good example is PIVX.

Most of all try to control impulses, don't chase and have fun. Remember Crypto is going to be the future of the monetary system and all forms of transactions, and 99% of it is built and driven by the community. So what we want to see and what we decide to invest in is what will become.

Andreas Antonopoulos supposedly has some very educative YouTube videos and books. I personally never read or watched any of his material, but he's fairly well respected within the community.

However your highest priority in the beginning should be learning how to secure your coins using cold storage, paper wallets or a hardware wallet -- alongside with why it is important to have access to your private keys and to securely store them.

I'd also recommend trying to understand Bitcoin first before looking into alts, otherwise you might miss some of the context on what challenges those alts try to solve that Bitcoin is facing as well. Also try to understand the tradeoffs of each respective approach.

You can used them to donate on ICOs to get some tokens in return, if you want some new tokens in your wallet, you can hold them and wait if the price will increase, after some months.... , if you think the price of token will double your capital when you bought them then sell it....

Have you bought it recently, for less than $10k per BTC? Then the best strategy is literally to do noting. Wait for a year. However, 0.5 BTC is a significant amount, so you should think about security. Do not keep it at an exchange, better make a cold storage or buy a hardware wallet, especially if you think about buying more. Trading is another story, I'm not a trader so I'll not give advises, others will do it.

WOOOW  How long will you hold your bitcoin?

In those times, it's better to do nothing. Market is bearish now. If you can wait few months, BTC will explode. Other option is to buy ETH and keep it long enough to have a pertinent profit. Good luck !

   First of all make yourself sure you keep your BTC properly, dont use online wallets for that. Use Ladger Nano or Trazor as HeRetik said, if case you dont want to buy hardware wallet run Bitcoin Core on offline computer, connect it to internet in only case you want to make a transaction.
   You can trade your coins on Bittrex or Polonex, you can buy not only different currencyes but also tokens, some token prices behave differently compare to BTC price, so you can make profit this way.
   But actually our motto is HODL, it means keeping BTC forever 

Okay...I understand. Better take it slow, I guess...Do you know any courses I can join, maybe? 

Altcoins are alternative cryptocurrencies such as Ethereum and Litecoin. If you don't know yet what altcoins are, I'd suggest staying away from them until you have read up on the matter.

Given that 0.5 BTC is no chump change, I'd recommend getting yourself a hardware wallet such as the Ledger Nano S or a Trezor.

Buy one of these wallets directly from their stores, not from any third party resellers or eBay:
https://trezor.io/
https://www.ledgerwallet.com/

For all intents and purposes, both are effectively equaly secure. Ledger is slightly cheaper. Availability may vary.

Read up on how to use a hardware wallet. Keep your wallet seed back up secure and offline. Remember that every transaction you make is irreversible. Maybe play around with small transactions before moving everything onto your hardware wallet.

Keep your money off exchanges. Stay away from cloud mining. Stay away from ICOs and alts until you really know what you're doing. Daytrading is a great way to both make and lose money. Remember that trying to get rich quick is a great way to get poor quick. Not losing money on scams and pseudo-investment is half the battle.

Thank you Mieszko
I'm not sure, what is altcoin?

There are several options:
1. Do not do anything and wait until the price of bitcona increases
2. Scalping-trading strategy that attempts to make many profits on small price
    changes
3. Invest in altcoins
The last two options require a lot of knowledge. Learn as much as possible. Choose the method that's right for you. There is no single best way to earn a crypto.

The way to turn Bitcoin into profit without lifting a finger is to just put the coins in a secure wallet and hold on to it for a year or more.

Crypto isn't an easy 'get rich, fast' investment. You can make nice profits but you need to take your time to read and learn about crypto. Nobody can tell you what coins you need to buy since everyone has a different investment plan.

Read a lot on this forum, especially the beginners forums.

When looking for coins to invest in look at their marketcap, at their website and read their whitepaper. Understand what the coin is used for and what it's purpose is. Don't go investing in coins because someone tells you to.
It's also a good thing to read up on understanding the charts to look for good times to buy and sell coins.

Hello guys, I was looking at bitcoin for a while, and now I bought 0.5 bitcoin through coinbase. Could you please advise me, what to do next? There are a lot of different coins out there. I watched some youtube videos, and seems, people are making money left and right with crypto...How can I turn my bitcoin into lots of profits? 
Will be happy for any suggestion xxx