Topic: Welcome to Indians - page 11. (Read 586985 times)

I want to know butcoin works

I am indian.i start it today

Thank you so much.I new to Bitcoin so welcome all the Indian to Bitcoin.

Hi Ashutosh,

Welcome to the world of cryptocurrency and the forum. I too am new here, but I will try to share as much as I know.

1. Regarding the amount of Bitcoins to start trading with: This is something you have to decide. As everyone will suggest you to not play with more than what you can afford to loose. At any time your investment should only be an amount loosing which would not financially/emotionally hurt you much.
But at the very beginning when you are learning how to trade start with a very small amount. Perhaps 5k-10k INR.
I started with INR 5000 as my first investment, because I wanted to see how bidding and selling works
Next time, I invested 30k. When i will gain more knowledge and confidence, I will invest more.

2. You can invest in cryptocurrency in 2 ways:
a) Trading
b) Holding as a long term investment . Eg. You could buy a bitcoin and keep it for long term in the hope that its prices are only going to increase substantially over time.
Other currencies speculated to grow substantially over time are: Etherium, BitCoin Cash, Ripple, LiteCoin, DashCoin, Neo etc.


3. Trading may be long term and//or short term trading.
For either of these, one needs to learn how to read the charts. I myself am new to this, so cant comment on this much. But there are many videos on Youtube which give you an idea about this.

4. For trading, the only way (for Indians) is to buy bitcoins from an Indian Exchange like Zebpay, CoinSecure or UnoCoin.
All of these require you to provide your identification details when you register. This is required by law and is called as KYC.
These exchanges take anything from a couple of hours to a couple of days. My personal experience was ZebPay was fastest (took only 5-6 hours in my case), while CoinSecure was slowest (took about 10 days). Unocoin took 4 days in my case.
Although CoinSecure was slowest, but I have heard very good things about it, so I want to give it a try.

To know the rates at different exchanges, see this site:
http://www.bitcoinrates.in/

5. Next step is to transfer your bitcoin to an international exchange. There are a number of exchanges like Bittrex, Poloniex, Kraken, Bitstamp, CryptopiaGDax, CoinMama, Bitfinex, C-Cex, Bithumb etc. These differ in number of currency pairs (among which you can trade), fees, exchange rate and availability in different countries.
See these links for a comparison of some of the most popular exchanges:
https://blog.infinitemlmsoftware.com/top-bitcoin-exchange-list-2017/#.WaQYzT4jGpr
https://99bitcoins.com/best-bitcoin-exchanges-comparison-review/

See this link for a list of cryptocurrencies and exchanges where they are supported:
https://cryptocoincharts.info/
coinmarketcap.com/all/views/all/

I personally use Bittrex for its extremely easy intuitive interface. However, I will soon start trading on Poloniex as well because:
a. the volume there is higher than on Bittrex
b. You should keep your coins in multiple different exchanges because if one exchange gets hacked, your rest of the coins are safe
c. There are some currenciies not supported on Bittrex, but supported on Poloniex. Vice-versa is also true

6. On the other hand, If you dont plan to trade and just want to buy bitcoins for long term holding, then remove your coins from online wallet to an offline wallet asap

This is all I have learnt till now, and I have shared it here. If I get to know more, I will add later on.

Holla board welcome my brother here in forum. You can start with any amount and you can try to invest in yobit.

i am new here wants to know how bitcoin work,if you can give me reference link or initial little amount of bitcoin to start up.
thanks.

Do you men to ask which BTC website/exchange is trustworthy?

Well, if you are buying Bitcoin or any other Atcoin (eg. Ethereum or Ripple or DashCoin or Lite Coin or whatever) for long-term investment, then you don't keep it with the exchange , no matter how reputed it is. Because exchanges are prone to hack attacks/bankruptcy etc.
Better to buy them from CoinSecure/ZebPay/LocalBitcoins/UnoCoin and then transfer them IMMEDIATELY to an offline wallet.

However, if you are in there for short term trading, then after buying on any of the Indian exchange, transfer your Bitcoins to a reputed international exchange like Bittrex/GDax/Poloneix/Kraken etc. and then do the trading there.

Which exchange do you choose should depend on :
1. whether the exchange supports the cryptocurrency you want to trade in
2. deposit/withdrawal feels
3. transaction charges
4. Other factors like support response time, UI/UX etc.

how to know which btc website in real

Hi All,

A newbie Bitcoin enthusiast from Bareilly (U.P.). Professionally a freelance web developer

I had heard about Bitcoin around a year back, but what I read (on Quora) was written in not so encouraging words. Basically, it went along the lines of 'Bitcoin mining was once very profitable, not it is no longer even slightly profitable unless you invest huge capital in it'. There was no mention of bitcoin trading; only a list of outdated hardware that once made people millionaires but were no longer any useful...and then another list of some other miners of which you would have to apparently get a couple (10-15), to make some decent profit.
If only that article had something on Bitcoin trading, things would have been different for me at least

Anyways that is about me.

Anyone from Bareilly/U.P. here?

Glad to see lot of Indians in the forum.. 

love to be greeted thanks.
I love Indian here not feeling lonely so by now we can say, is there any place in real world or internet world were an Indian never stepped.
I think you now the answer.
 

Hi All,
die hard bitcoin fan from cochin kerala

hello there, glad to see this thread. Hope Indians start embracing the technology and not just look at the monetary aspect of the cryptocurrency and blockchain .

Good to be here

Thanks.

Yes i am here for learning about bitccoin.

You are absolutely right and that is because India is a country with such a population. Even though some people might have herd about bitcoins and out of them some use it... majority of the population do not understand nor have the time and resource to do so.

Great to see the number of Indians here and it's great that they show enthusiasm towards bitcoin But when I talk about bitcoin in my area many people act like I am an alien.
Any how thanks for your warm welcome.

Your website has little information now but i think your going in the right direction. also news section will be good. You must be able to know what the impact of the news about bitcoin around the world would be on India... then that is something interesting to read. Every perspective matters.

btw PM me your telegram or skype ID and we can have a chat if you want.

hi suvo05, what sort of content?  please have a look at https://99cryptocoins.wixsite.com/99cryptocoins
i also have a free domain redirect from 99cryptocoins (dot) tk but bitcointalk marks it as a suspicious link so i used the original wix link for this forum (as above).  the .tk link will work if you type into your browser directly.

perhaps we could have a NEWS section with news relevant to Indians? what do you'll think?
don't really think (yet) another discussion forum is required.

Hi Suvo05,

Well if you are willing to write some good content then i can help setup a wordpress website with whatever custom theme or style u need provided that you pay for the domain and hosting yourself.

I can also help you manage it later on daily basis.

i would suggest contact the person above who posted and work with him for the content part.

both of you just PM me for details which can be worked out.

regards