Hello all,
I'm new to this and have started learning about the characteristics of bitcoin, how to mine it and the pros and cons of it. Although I have learnt the basics of mining, I personally don't plan on doing it as simply put I do not have the resources to do so. So rather than mining, I am looking into purchasing BTC through localbitcoins then transferring it to my Electrum wallet.
My questions are: (some of these have been answered in older threads but I just want to be reassured please)
- Would you advise on purchasing BTC now before August 1st?
- Is it advisable to use Electrum to store the coins? I have encrypted it and written my seed on paper.
- Would you say, in your opinion, ETH would be a good investment?
I only plan on purchasing a small amount of BTC (3-4) to start with.
If you have any books (or articles) you'd like to share that'd be a good read, please do share!
Thanks,
Makkie
I'm new to this and have started learning about the characteristics of bitcoin, how to mine it and the pros and cons of it. Although I have learnt the basics of mining, I personally don't plan on doing it as simply put I do not have the resources to do so. So rather than mining, I am looking into purchasing BTC through localbitcoins then transferring it to my Electrum wallet.
My questions are: (some of these have been answered in older threads but I just want to be reassured please)
- Would you advise on purchasing BTC now before August 1st?
- Is it advisable to use Electrum to store the coins? I have encrypted it and written my seed on paper.
- Would you say, in your opinion, ETH would be a good investment?
I only plan on purchasing a small amount of BTC (3-4) to start with.
If you have any books (or articles) you'd like to share that'd be a good read, please do share!
Thanks,
Makkie
Well you are just a few days late for purchasing bitcoin. The price plummeted to around $1800-$1900 a while back and that is the perfect opportunity to buy because the price is low. Remember, buy low sell high. So I urge you to wait for a bit before getting bitcoin.
Yes, Electrum is one of the best besides Bitcoin core wallet. Fast, lightweight you set the fees when transferring your coins, best of all you have control of the private keys and the seeds.
Ethereum can be a good investment but I don't know if it can reached again the level it got a few months ago when it touches ATH of more than $400. Right now, even though its red, the price is still high to buy. Just wait till it touches below $200.
I don't have books to share. If you are looking for a read. This forum would be the best. There are a lot of knowledgeable members here. If you have question just ask and I'm sure someone will answer you. You should also familiarized yourself in this forum and just go around several threads, you might find your answers there. Goodluck.
