Question from Newbie - page 2. | Bitcointalksearch.org

worldwifiICO

member

Activity: 63

Merit: 10

Quote from: beerlover on December 20, 2017, 09:15:53 AM

Quote from: SatoshíNackamoto on December 18, 2017, 03:47:26 PM

I would advise you to watch about 10 hours of videos on YouTube about Crypto, how trading works and how to keep it safe from malicious people.

Best thing you can do.

Really, considering that the OP mentioned trading, it is really something daring. However, there is no point daring yourself when you do not have enough knowledge to always pull off a good trade. You will end up losing and failing woefully anyway and if you do not have the time to learn, then it is better to hold.

To the holding aspect and regarding the security you have mentioned, I am glad it is a good thing that you know how important the security of your asset is and i will advise you go for a cold storage like Ledger Nano instead if you are planning to hold for a long term. It comes with a little price, but considering the security of your funds, it is worth it.

Thanks, I've already started learning!

worldwifiICO

member

Activity: 63

Merit: 10

Quote from: 23tamayo on December 20, 2017, 10:11:05 AM

there are a lot of way for you, to buy and store your money, for trading as well. For buyng the simpliest way is from coinbase but you have to pass through the KYC so it means at the end you will pay taxes, if you want to advoid it you can use localbitcoin and chose the "in person" solution, you will meet personally with the seller to close the transaction. To store your money the better and safest way is a ledger nano, then if you want to trade, my advice is Binance, is the best choise right now

Get it!
Thanks a lot!

23tamayo

newbie

Activity: 35

Merit: 0

there are a lot of way for you, to buy and store your money, for trading as well. For buyng the simpliest way is from coinbase but you have to pass through the KYC so it means at the end you will pay taxes, if you want to advoid it you can use localbitcoin and chose the "in person" solution, you will meet personally with the seller to close the transaction. To store your money the better and safest way is a ledger nano, then if you want to trade, my advice is Binance, is the best choise right now

beerlover

legendary

Activity: 3052

Merit: 1188

Quote from: SatoshíNackamoto on December 18, 2017, 03:47:26 PM

I would advise you to watch about 10 hours of videos on YouTube about Crypto, how trading works and how to keep it safe from malicious people.

Best thing you can do.

Really, considering that the OP mentioned trading, it is really something daring. However, there is no point daring yourself when you do not have enough knowledge to always pull off a good trade. You will end up losing and failing woefully anyway and if you do not have the time to learn, then it is better to hold.

To the holding aspect and regarding the security you have mentioned, I am glad it is a good thing that you know how important the security of your asset is and i will advise you go for a cold storage like Ledger Nano instead if you are planning to hold for a long term. It comes with a little price, but considering the security of your funds, it is worth it.

worldwifiICO

member

Activity: 63

Merit: 10

Quote from: BUK2016 on December 18, 2017, 04:02:32 PM

Quote from: worldwifiICO on December 18, 2017, 05:55:40 AM

Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?

well, if you want to buy bitcoin you will need to first create bitcoin wallet from blockchain info which I believe is saferas compared to others and you can buy bitcoin as much as you can via the same some source, local bitcoin exchangers or coin base. And if you want to buy ethereum for investment purpose I will recommend Etherwallet which is more safer and equally accept most of the token.

Thanks, I've heard the same ideas about Etherwallet from others as the safest storage for ETH

worldwifiICO

member

Activity: 63

Merit: 10

Quote from: Idrisu on December 18, 2017, 04:24:33 PM

Quote from: worldwifiICO on December 18, 2017, 05:55:40 AM

Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?

Since you are new here I will advise you not to jump into bitcoin trading or investment without adequate knowledge on how cryptocurrency work and the time to buy and sell before you can make profit. I have been using https://blockchain.info for the past two years and I have never have any problems with the wallet and the services. You can also open a trading account with poloniex or hitbtc and get bitcoin and others altcoins wallet in one place from there.

Good advice! thanks!

worldwifiICO

member

Activity: 63

Merit: 10

Quote from: passivebesiege on December 19, 2017, 05:07:11 AM

Quote from: worldwifiICO on December 18, 2017, 05:55:40 AM

Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?

for ETH you can use myetherwallet wallet and dont forget to save jsonfile and private key because thats the only way to open that wallet again. in BTC there are many choices such as electrum , mycellium bitcore etc .

Yeap, I heard about that keys, and it's better to save them in some files on PC

passivebesiege

hero member

Activity: 854

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CTO & Spokesman

Quote from: worldwifiICO on December 18, 2017, 05:55:40 AM

Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?

for ETH you can use myetherwallet wallet and dont forget to save jsonfile and private key because thats the only way to open that wallet again. in BTC there are many choices such as electrum , mycellium bitcore etc .

reflector

sr. member

Activity: 826

Merit: 263

Quote from: Idrisu on December 18, 2017, 04:24:33 PM

Quote from: worldwifiICO on December 18, 2017, 05:55:40 AM

Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?

Since you are new here I will advise you not to jump into bitcoin trading or investment without adequate knowledge on how cryptocurrency work and the time to buy and sell before you can make profit. I have been using https://blockchain.info for the past two years and I have never have any problems with the wallet and the services. You can also open a trading account with poloniex or hitbtc and get bitcoin and others altcoins wallet in one place from there.

How about the fees in blockchain wallet bro. You will find the bitcoin payment fee is large than any wallet in blockchain. So first you learn learn which wallet is good to have the bitcoin is saved.
Investing on multiple crypto in exchange and wallet are different bro. To say frankly people invested on trading initially in crypto platform.

worldwifiICO

member

Activity: 63

Merit: 10

Quote from: Virtual miner on December 18, 2017, 02:12:48 PM

Quote from: worldwifiICO on December 18, 2017, 05:55:40 AM

Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?

Entering into the crypto trading world is really something daring considering that it is unregulated therefore you might see huge gains and losses each day. Unlike the stock trading where a stock can get a buyer freeze or seller freeze if it is highly volatile there is no such freezing here we see coins increasing by 100% daily and a few falling by the same margin.

So answers to your questions. First of all if you are fiat holder get your fiat converted into BTC using coinbase or any other local exchange which allows you to do so. Its different for different currencies moreover USD deposits are widely acceptable across various exchanges too. If you are into daily trading I would recommend you to go with Bittrex. It has the most amount of coins listed with great versatility so you are always on trade. You can get easy withdrawals upto 1 BTC daily but do make sure you get some verifications done. Binance is a good exchange too considering they allow you to withdraw upto 2 BTC daily. Just make sure you are patient while doing trade and don't keep your high amount of funds on exchanges they are most prone to scams. Shift the funds to cold storage if you don't want to trade on them.

Thanks for your advice! Very worthy!

worldwifiICO

member

Activity: 63

Merit: 10

Quote from: ?? on ??

I have to say there are many useful advises here and I myself being a newbie appreciate this kind of support. Thanks!

Great, that it was helpful not only to me)

Idrisu

sr. member

Activity: 924

Merit: 260

Quote from: worldwifiICO on December 18, 2017, 05:55:40 AM

Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?

Since you are new here I will advise you not to jump into bitcoin trading or investment without adequate knowledge on how cryptocurrency work and the time to buy and sell before you can make profit. I have been using https://blockchain.info for the past two years and I have never have any problems with the wallet and the services. You can also open a trading account with poloniex or hitbtc and get bitcoin and others altcoins wallet in one place from there.

BUK2016

full member

Activity: 770

Merit: 126

Quote from: worldwifiICO on December 18, 2017, 05:55:40 AM

Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?

well, if you want to buy bitcoin you will need to first create bitcoin wallet from blockchain info which I believe is saferas compared to others and you can buy bitcoin as much as you can via the same some source, local bitcoin exchangers or coin base. And if you want to buy ethereum for investment purpose I will recommend Etherwallet which is more safer and equally accept most of the token.

SatoshíNackamoto

newbie

Activity: 42

Merit: 0

I would advise you to watch about 10 hours of videos on YouTube about Crypto, how trading works and how to keep it safe from malicious people.

Best thing you can do.

Virtual miner

sr. member

Activity: 728

Merit: 275

Quote from: worldwifiICO on December 18, 2017, 05:55:40 AM

Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?

Entering into the crypto trading world is really something daring considering that it is unregulated therefore you might see huge gains and losses each day. Unlike the stock trading where a stock can get a buyer freeze or seller freeze if it is highly volatile there is no such freezing here we see coins increasing by 100% daily and a few falling by the same margin.

So answers to your questions. First of all if you are fiat holder get your fiat converted into BTC using coinbase or any other local exchange which allows you to do so. Its different for different currencies moreover USD deposits are widely acceptable across various exchanges too. If you are into daily trading I would recommend you to go with Bittrex. It has the most amount of coins listed with great versatility so you are always on trade. You can get easy withdrawals upto 1 BTC daily but do make sure you get some verifications done. Binance is a good exchange too considering they allow you to withdraw upto 2 BTC daily. Just make sure you are patient while doing trade and don't keep your high amount of funds on exchanges they are most prone to scams. Shift the funds to cold storage if you don't want to trade on them.

worldwifiICO

member

Activity: 63

Merit: 10

Quote from: nydiacaskey01 on December 18, 2017, 09:46:27 AM

If you have money to spare you can buy ledger nano s to store your Bitcoins but if you prefer online storage, you can go with Blockchian.info. managing your coins is easy since you mentioned that you are into trading so most likely your coins are stored in a trading platform like Poloniex or Bittrex. Storing coins there is not advisable if you have no plans yet of buying trading pairs but if you already have, I would worry more on how to earn more BTC than managing it. Selecting the right trading pair is more worrisome than managing it.

To your mind, which pairs are currently the most trustworthy?

worldwifiICO

member

Activity: 63

Merit: 10

Quote from: patt0 on December 18, 2017, 08:04:07 AM

Quote from: worldwifiICO on December 18, 2017, 05:55:40 AM

Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?

I think the best way to use your funds in order to buy bitcoin, is to go to coinbase and make a purchase there. Their fees are a bit high, but it allows you to directly buy crypto with fiat, and you don't need to first buy tether for example. If you can verify you account on Gdax, that is also owned by coinbase, so by creating an account on coinbase, you already have an account at Gdax, you can avoid fees altogether, both for purchasing crypto, or for trading it.

If you want to just trade, you can stay there, or move some of your funds to bittrex, since it offers a lot of altcoins to trade. If you want to store crypto, then after you bough it, you should at least install a desktop wallet like electrum, and move your coins there. If you really want to keep your coins secure, then a hardware wallet like trezor or ledger is the best option.

thanks for useful information!

worldwifiICO

member

Activity: 63

Merit: 10

Quote from: Mister1k on December 18, 2017, 10:32:59 AM

Quote from: worldwifiICO on December 18, 2017, 05:55:40 AM

Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?

For mining you can ask different kind of wallet to receive the bitcoin or altcoin means you are correct in your query to choose the wallet. For trading you will get the default wallet in the trading site itself you have to use fhsg while you create the trade of any coins in the concern wallet. Sharing experience of trading and all will not work, you have to invest and check then you can understand it clearly.

Yes, I totally agree, that I must check everything by myself first! Just wanna be fully prepared! Cool

worldwifiICO

member

Activity: 63

Merit: 10

Quote from: albio87 on December 18, 2017, 09:38:54 AM

there are a lot of way for you, to buy and store your money, for trading as well. For buyng the simpliest way is from coinbase but you have to pass through the KYC so it means at the end you will pay taxes, if you want to advoid it you can use localbitcoin and chose the "in person" solution, you will meet personally with the seller to close the transaction. To store your money the better and safest way is a ledger nano, then if you want to trade, my advice is Binance, is the best choise right now

Do you know the approximate tax amount?

Mister1k

hero member

Activity: 896

Merit: 520

Quote from: worldwifiICO on December 18, 2017, 05:55:40 AM

Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?

For mining you can ask different kind of wallet to receive the bitcoin or altcoin means you are correct in your query to choose the wallet. For trading you will get the default wallet in the trading site itself you have to use fhsg while you create the trade of any coins in the concern wallet. Sharing experience of trading and all will not work, you have to invest and check then you can understand it clearly.

Topic: Question from Newbie - page 2. (Read 510 times)