I only have answer to your title and not to the questions put in body therein. Invest only what you can afford to lose, despite from the current price it seems that the only way from here is UP! There are multitude of things that can go wrong and you lose your funds. As the saying goes, never test depth of river with both feet.
Adding to what you have said, the are many things you look into when you want to do any kind of investment, know the kind of investment you want to do, make sure you do your own personal research to know more about the investment, consult does that are into the investment before jumping into it. Please note :- don't look into the profit they are making and decide to invest in huge amount, do things gradually, start with little amount of money to know in and out of the investment to avoid loss or fund. 
Topic: What are the procedures to follow when I want to invest? (Read 402 times)
I only have answer to your title and not to the questions put in body therein. Invest only what you can afford to lose, despite from the current price it seems that the only way from here is UP! There are multitude of things that can go wrong and you lose your funds. As the saying goes, never test depth of river with both feet.
3. Why is using Bitcoin better than using conventional currencies?
It's better when you're going to do transactions offshore. Because there's no central authority and there's no third party that it has to go through that will take up to 3 business days for the confirmation. And that's what we're talking about as a currency, not mentioning it as a store of value. Being it that has a fixed supply makes it better than the typical currencies that we've got and that's because they can print endlessly compared to Bitcoin. So, its value will keep on increasing as the demand increases as one of its property is its scarcity. 
Why is using Bitcoin better than using conventional currencies?
Bitcoin is so much better than conventional currencies, and it is much more befitting than conventional currencies.Let's explain why Bitcoin is better than conventional currencies. First, we need to understand the preamble of Bitcoin and why people need it for trade.
In the early days, people used physical objects like rocks, gold, precious metals, bank notes, paper bills, and digital money.
Over time, people learn that the most desirable qualities don't have conventional currencies. Which is given below.
Divisible — can be turned into smaller pieces for certain uses, like paying a specific amount or making micropayments.
Non-consumable — cannot be consumed for purposes other than an exchange of value.
Portable —can be easily carried around.
Durable — does not wear away or depreciate through time or in certain conditions.
Secure —cannot be counterfeited.
Easily transferable.
Scarce—cannot be replicated without end.
Fungible — each piece has the same value as its equivalent.
Recognizable — it is recognized and accepted as a means of transaction.
This is why Bitcoin is called the next step in the evolution of money. Since we didn't have money like Bitcoin before, it's natural to question the concept and compare it to traditional currencies.
1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?
You need to have the wallet first. When you have the wallet, you can buy BTC on CEX or DEX, then you send the BTC to your wallet.To buy BTC, you can use fiats if you have CEX account. You need deposit fiats to your CEX wallets, then you can buy BTC on the spot market with fiat pairs. But if you want to buy BTC on DEX, it will be easier if you buy with USDT.
2. I'd appreciate an explanation of how Bitcoin mining functions and how it maintains the security and reliability of the Bitcoin network.
To know the basic information about mining, kindly read this first https://www.investopedia.com/terms/b/bitcoin-mining.asp3. Why is using Bitcoin better than using conventional currencies?
Bitcoin offers the potential of higher profits. Its volatility enables Bitcoin to rise significantly although it also means Bitcoin price possibly freefalls as well. To deal with the BTC price fluctuation, you need to learn the price history and the bearish-bullrun period. Also, make sure you know well what factors that determine the price fluctation.
1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?
Know that there are scammers and untrustworthy people in bitcoins, avoid buying bitcoins from individuals you do not know or websites that are not popular, you can send money and never receive bitcoins.3. Why is using Bitcoin better than using conventional currencies?
Conventional currencies are government controlled and they are not a good store of value because they are subject to inflation as it's supply is not limited. As for bitcoins, there is independence from the government, and it can serve as a hedge against inflation.
I have came across some questions today while I’m reading some areas of bitcoin, these are the list of my questions.
1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?
2. I'd appreciate an explanation of how Bitcoin mining functions and how it maintains the security and reliability of the Bitcoin network.
3. Why is using Bitcoin better than using conventional currencies?
Many thanks to all of you for your explanation.
1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?
3. Why is using Bitcoin better than using conventional currencies?
3. Why is using Bitcoin better than using conventional currencies?
First, I would like to recommend YouTube for this type of question which will guide you more through a demo. I am answering 1 and 3 questions. There are many plate forums, websites, and exchanges that will help you to trade, buy, or sell and another one is the P2P method in which you can buy or sell a cryptocurrency directly from the users. The third question answer is that there are many reasons why Bitcoin is better than conventional currency.
> More secure and anonymous form of payment.
> Globally form of payment
> More secure form of currency.
For the 2 questions check the replies of some legendary members they will understand you in detail.
3. Why is using Bitcoin better than using conventional currencies?
I have came across some questions today while I’m reading some areas of bitcoin, these are the list of my questions.
1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?
2. I'd appreciate an explanation of how Bitcoin mining functions and how it maintains the security and reliability of the Bitcoin network.
3. Why is using Bitcoin better than using conventional currencies?
Many thanks to all of you for your explanation.
I see that you are new to the forum and with your questions; it appears that you are just understanding crypto currency and bitcoin; to that reason i will encourage you that the first step is reading about the following and also understand it.
1. Bitcoin wallet and how to keep your btc
2. Trading Psychology
After understanding the above 2 topics; then my answer below will help you with regards to your first question. The procedures to buying and selling bitcoin is similar; what you need to do is figure out the exchange you want to buy / sell bitcoin from. Before buying / selling btc, you should remember that in bitcoin or crypto currency, there are no guarantees.
For your second question; i have no knowledge about bitcoin mining; so you can use binance academy to learn about that, or read different topics in the bitcointalk mining forum. For no 3, bitcoin is only better than conventional currencies depending on what is acceptable in your present location.
I have came across some questions today while I’m reading some areas of bitcoin, these are the list of my questions.
1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?
2. I'd appreciate an explanation of how Bitcoin mining functions and how it maintains the security and reliability of the Bitcoin network.
3. Why is using Bitcoin better than using conventional currencies?
Many thanks to all of you for your explanation.
For #2, I think it's better off to be asking that in the Mining section.
For #3, it's purely your money that's why. And because it is....well it's Bitcoin.
Making investment in bitcoin is risky. There is possibility that you might loose part or all your investment, if proper care is not taken. So, you need to make serious research on it. You need to research on the type of exchange you want to engage with. You need to research on the appropriate time to make investment to enable you make profit. You also need to know your target. Very importantly, you should be able to make personal decision in every step of the process.
All of the things you stated will be easier for you if you understand bitcoin and how it operates.
I, too, have limited knowledge, but I am certain that you can purchase Bitcoin using centralized exchanges, which are most frequent for novices due to our lack of knowledge, but you can also purchase via peer-to-peer in some Exchanges that are not kyc.
To learn more about the other aspects you stated, visit Learnmeabitcoin.com, which will assist and explain the entire procedure to you.
You know, platforms like XGo have this multi-currency wallet thing going on. It lets you easily buy or sell crypto for regular money. The best part? It's super safe, and you can use just one XGoID for all your transactions. Talk about convenience!
But how sure is the XGo? I’m hearing about it for the first time here, although I don’t know if any other person here knows about it, because I always think someone should use an exchange that is well known by people in order to avoid being scammed. So how secure is the XGo you are talking about, and how does it work? You can see that the person who asks this question is still a newbie who doesn't know anything about bitcoin or how it works, so I will suggest that you explain everything about the XGo you are discussing to be well-explanatory so that we will know more about it. And also the OP.
I want you to guide me on how i can invest in Bitcoin without experiencing any lost.
Nothing hard there, mate. The only thing you need first is to be knowledgeable about bitcoin, which I believe is applicable to any investment you want to make. Once you are knowledgeable about where you are about to put your money, the risk will be limited, and that's why you need fundamental knowledge of bitcoin. And hold on to your investment for a long period of time because the price is unpredictable.
NOTE invest the amount you can afford to lose
I have came across some questions today while I’m reading some areas of bitcoin, these are the list of my questions.
1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?
2. I'd appreciate an explanation of how Bitcoin mining functions and how it maintains the security and reliability of the Bitcoin network.
3. Why is using Bitcoin better than using conventional currencies?
Many thanks to all of you for your explanation.
One of the major procedure to take before buying or selling any cryptocurrency is doing your own research as this has already been proven to give the investor more edge on the coin he or she intends investing on. Secondly it it is always advice to buy low and sell high as that's the major principle of making profits as an investor but in cases where there's no much capital to buy at once, then the DCA method should be the best option as this enables you buy in bits at every opportunity you get to buy.
Well I can't really speak more of mining because I haven't paid much of an attention to it but I know their role can't be over emphasized.
Well most bitcoiners believe that using bitcoin is more safer for them because of its decentralization but I think bitcoin helps in international transactions without so much transaction charges.
1. Not really that hard, depends on the exchange you're want to use. I think the crucial element is privacy because if you've share your privacy in online, you will not able to become 100% anonymous since either the database or someone have save it.
2. In short mining is a process to verifying and solving Bitcoin blocks, mining can maintain Bitcoin security because the higher the difficulty and the more people mine it, this will make people who want to perform 51% getting slim.
3. Because it's decentralized.
I want you to guide me on how i can invest in Bitcoin without experiencing any lost. 2. In short mining is a process to verifying and solving Bitcoin blocks, mining can maintain Bitcoin security because the higher the difficulty and the more people mine it, this will make people who want to perform 51% getting slim.
3. Because it's decentralized.
You know, platforms like XGo have this multi-currency wallet thing going on. It lets you easily buy or sell crypto for regular money. The best part? It's super safe, and you can use just one XGoID for all your transactions. Talk about convenience!
But you forget to mentioned that it centralized and at that you still risk losing all or some of your investment on XGoID, but then I will like to also advice that you should try as much as possible not to leave your total investment on an exchange no matter the level of the convenience they offer you. We have heard a lot of exchange hacks and if you know FTX that ruin all their investor's investments was once one of the preferred choices because of their conveniences such as free withdrawal fees and so on but in the end, it all ended in tears for investors, so for that to protect your investment, there is a need to take total control of your investment.
Best you buy Bitcoin and hold it in your custody, and take charge of the balance and what goes on in it, it doesn't matter how long it takes to make that investment come to a high-profit level since no one promises that it going to be an easy walk.
So the best thing to do is to first of all build a good knowledge and background understanding of the asset you are about to invest in and try as much as possible to limit your risk by only investing what you can afford to leave without for a while. E
3. Why is using Bitcoin better than using conventional currencies?
I don't know how it works with others, anyway, but for me there's a type of ease I get when transacting with Bitcoin, especially funding an account or something else online. The convenience of sending it and getting it reflect almost immediately (especially days when there isn't much congestion), makes it easy to conclude that the role of middlemen in transactions is a real bottleneck.Who even invest in something you don't understand yet?
We can't rule that out happening in reality and sometimes ending well too. It's only disastrous embarking on if one doesn't have anyone to mentor one. I barely knew what Bitcoin was when I made my first Bitcoin investment in 2017. I believe many people now are like me in 2017. legendary
Activity: 2478
Merit: 4341
eXch.cx - Automatic crypto Swap Exchange.
3. Why is using Bitcoin better than using conventional currencies?
Many thanks to all of you for your explanation.
Many thanks to all of you for your explanation.
Bitcoin is better because, for starters Bitcoin isn't centralized or fully controlled by a group of elite bankers and the government. Bitcoin bring transparency to the finance industry and also have other benefits that makes using Bitcoin instead of using fiats recommendable but the banks in collaboration with the government isn't encouraging that because they lose control when we don't give them control over our finances. The government always wants control but when her citizens stop using the institution they provided to secretly monitor the transaction going on in the countries it becomes a problem because it gives the people freedom and that's why Bitcoin is better.
Standard procedure is to create and use a reputable exchange account to buy Bitcoin and send to your very own Bitcoin wallet. You'd want to keep a few things in mind like the entry price and maybe some details specific to the exchange.
To purchase Bitcoin, you don't always need an exchange (speaking about the typical centralized exchanges that we have in the market) as that's how I understand your reply. Bitcoin can always be bought through a decentralized Peer2Peer methods that doesn't involved any of the centralized exchanges. To avoid scam, the buyer just have to be sure he's using the right P2P exchange and one of the popular ones on the forum that anyone here with reputed knowledge will recommend is Bisq or AgoraDesk.com
1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?
There are procedures to follow before buying or selling bitcoin, what first set in is learning, there's nothing possible you could do outside the bitcoin learning ground, which means before you could do anything, you have to know about what you're trying to do well, this begins with learning about how to buy bitcoin, exchange bitcoin, earn bitcoin, hold bitcoin or sell it and other trading patterns you may learn along your investment before anything.
3. Why is using Bitcoin better than using conventional currencies?
Conventional currency in this regard means fiat if am on the right page with you, fiat is a currency that the government regulate and control while bitcoin is a digital decentralized currency that every individuals control by themselves without having any issues as barrier against their wish.
Jump to: