Question about wallet | Bitcointalksearch.org

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: leotry on November 08, 2017, 09:42:24 PM

1) how do back up my electrum 2fa wallet

when you create a new wallet it gives you a set of words known as "seed" (even for 2FA wallets). create a back up from that. preferably write it down on paper.

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2) does everyone have a mining fee with the transaction fee when sending btc?

anyone who wants to make a transaction on chain has to pay a transaction fee from 0 to whatever. the miners decide to whether pick it up or not based on other transaction in the mempool and how much the others are paying.
the wallet doesn't have anything to do with this fee other than giving you suggestions.

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3) this might be a dumb question but is the price going to drop because not sure when i should buy btc i have about $1000 saved up and want to invest into it can someone tell me how it works lets say ex current price is 15k how much would i have made if i invested 1k with the current price thanks.

there is always a chance of price dropping and a chance of price rising. visit the speculation board and nobody can tell you the truth Wink

if you invest 1K at $7000 then it go es to $15000 you make 114.28% profit or $1142.8 (total = $2142. Cool

jseverson

hero member

Activity: 1834

Merit: 759

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3) this might be a dumb question but is the price going to drop because not sure when i should buy btc i have about $1000 saved up and want to invest into it can someone tell me how it works lets say ex current price is 15k how much would i have made if i invested 1k with the current price thanks.

No one can really answer this with absolute certainty, but it has been speculated that the current bullish run is mostly caused by the upcoming Segwit2x fork. If past forks are any indication, the price will surge before the fork and slide after. Thus, if price is your only consideration, it's not entirely advisable to buy at the moment. It has to be noted that the fork is said to be delayed or cancelled, but I can't vouch for the integrity of the news.

The current price is fluctuating around $7,500, so if you put in your $1,000, and its value goes to $15,000, then your investment will grow to $2000. If it grows to $10,000, then your investment will grow to around $1333. It's basic ratio.

MarkusIsaiah

full member

Activity: 252

Merit: 100

Quote from: leotry on November 08, 2017, 09:42:24 PM

Hey I have a couple questions about my software wallet called Electrum

1) how do back up my electrum 2fa wallet

2) does everyone have a mining fee with the transaction fee when sending btc?

3) this might be a dumb question but is the price going to drop because not sure when i should buy btc i have about $1000 saved up and want to invest into it can someone tell me how it works lets say ex current price is 15k how much would i have made if i invested 1k with the current price thanks.

1). Upon creating a new wallet you will ask what wallet type you want to create standard, wallet with two-factor authentication, multi signature and watch bitcoin address, just create new address and choose with two-factor authentication if you want an electrum with 2fa.

2)I don't notice that my transaction when sending Btc has a mining fee included other than transaction fee.
3)Price will drop but don't worry it will go up again and it will exceed the highest price before it goes down. That is how Bitcoin works so your investment is safe just keep holding it and do not panic whenever you see a fall in the price.

Silverdewz

newbie

Activity: 29

Merit: 0

The wallet does not seem to have 2fa, but the wallet has the transaction password so there's no need to worry too much about the cost per person or even every transaction.

leotry

newbie

Activity: 24

Merit: 0

Hey I have a couple questions about my software wallet called Electrum

1) how do back up my electrum 2fa wallet

2) does everyone have a mining fee with the transaction fee when sending btc?

3) this might be a dumb question but is the price going to drop because not sure when i should buy btc i have about $1000 saved up and want to invest into it can someone tell me how it works lets say ex current price is 15k how much would i have made if i invested 1k with the current price thanks.

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