Topic: which step i should take before buy bitcoin? (Read 522 times)

You should know many things before buying a Bitcoin. You should get a trusted wallet before buying Bitcoin. You should also the various transactions you can and can not do with your Bitcoin. You should know who to sell and when to sell.

You should to know before buying bitcoin when you will sell it.

Know where you can buy, where you can store it, and its value. We have a BTC101 blog post that might help you: bit.ly/Bitcoin101Guide
But the key is to understand the market and the crypto world--staying informed is how you avoid making unnecessary mistakes.

Hope this helps 

Before buying bitcoin you must to know from where you can buy bitcoin with a preferable price and a minimal fee so you have to do a search before you buy bitcoin

Before buy bitcoin i think you have to learn lot of thing. Exchange, altcoin and many other things that i can't mention all here is basic knowledge to playing cryptocurrency. I advice you to buy altcoin instead of bitcoin because bitcoin value is too high and almost of all altcoin has a low value. If you want to research there are many altcoin that is best to buy and hold because great vision and professional team such as nano, icon, vechain etc.

have you heard about dollar cost averaging? it's a technique which you 1st invest a chunk of your money then invest the same amount when the value of the coin/BTC drops or increase in % of your target. this will help you to become comfortable with your investment and lessen the risk of loss. for example, you want to invest 100 USD on BTC.  1st invest 20 USD if the value increases/drop by 5% invest another 20 USD then another 20 USD for the next fluctuation. this trick is advisable for a beginner since they can not timing the market perfectly.

Here's a brief overview of what you need to look into before you make your foray into bitcoin;

1. Understand how exchanges work, find out which have the coins you are interested in trading then choose the one with the highest liquidity/lowest fee
2. Look into the difference between software and hardware wallets, if your budget allows get a hardware wallet, otherwise max sure you enable 2FA on your software wallet
3. Understand a little about how bitcoin fluctuates, this will allow you to buy when it's at its optimal price.

Make sure that you understand how wallets work.

Buying bitcoin must be careful first to see the state of the market. The fluctuations that occur where prices often fall up make specific considerations and references. I think if you want to buy bitcoin in a cheap state and cultivate certainty that one day bitcoin the price will rise. That is all

Before buying bitcoin, I highly advice that the first thing you check out is the market. See first what is the value of bitcoin, because there are times when it's value is high which not really very ideal to spend your money on. So, the best thing to do is to wait for it's value to go low and then that's the time that you can buy.

Get acquainted and check how to settle income in the tax office in your country to avoid possible problems.
Get acquainted with exchanges, check how to convert BTC to FIAT.
Good luck.

Well, simple in order for you to succeed and survive bitcoin world you must consider your self that lose sometimes is normal, you need the so called Wait. Waiting patiently is the key for you to earned well while you are thinking now on how to get started on bitcoin.

Before you buy bitcoin, you should have learn and knowledge about bitcoin and how it works. Then find a wallet where you can store your bitcoins. You also need to accept that investing in bitcoin is very risky.

Honestly just read a lot, sniff out any information you can, don't believe rumors that you can't prove by yourself. One of my relatives invested heavily into a dead currency due to a friend's recommendation.. Just try to figure it out for yourself.

The only thing you need to know before investing in Bitcoin is that you are investing in highly volatile currency and you could lose your entire money as Bitcoin is in the initial phase of development no one is sure what is going to happen down the road so if you are not comfortable in such kind of situation then it is recommended not to invest in such cases. Do your own research before taking any investment decision and do not blindly trust others opinion. I am optimistic about Bitcoin but I wouldn't recommend you investing it without understanding what Bitcoin is all about and how it works.

You need to be 100% sure that source which you are buying from is legal and you need to be confident that after purchase you will get your btc. After that read some threads on forum about making wallet safe, cause without it you will be an easy target.

1 Register a wallet. The wallet will keep your Bitcoin safe. Types of wallets: https://themerkle.com/here-are-the-best-bitcoin-wallets-for-2018/

2 Choose an exchange. Firstly, google exchanges operating in your country and make a list of them. As I don't know where are you from, I can offer to look at global ones.                                       

• Coinbase
• Cex
• Kraken
• Binance

 
3 Register with a preferable exchange. It's better to open an account at
the exchange which supports your currency of use.

4 Deposit money to the exchange. It's better to try with a little amount
first to understand the whole procedure and not to be scared
risking much.

5 Buy Bitcoin. It can be bought in small fractions, like 0.1 or smaller, but you need to check it with the exchange.

6 Transfer Bitcoin to the wallet. Though most exchanges claim to be safe, they still can be hacked. So better store your Bitcoin in your wallet. [/li][/list]

in this situation, I think you need to check the price before you buy and you need to decide where do you want to buy bitcoin because there are many websites or third party that could help you to buy bitcoin. and I think, you can buy bitcoin right now before the price increases again and maybe you can buy for small portion first to see if the price increases or decrease. and if the price decreases, then you can buy bitcoin again. be careful to decide if you want to buy 1 bitcoin directly because the price now is hard to predict.

If you want to know how to buy Bitcoin without a broker, the easiest way is to use a trading platform. There are many trading platforms out there with various features. It is important to choose the right and reliable exchange place. You can dig up as much information related to the trading company from the members, ask the experts, and find out via the internet.
When comparing exchanges, remember to look at the fees charged for buying Bitcoin and what payment methods to offer.

Many peoples talking about price, but you need also learn about technology and security.
Your bitcoins may be stolen and you cant back it because transactions in this network cancelable

If you are a beginner, you should know about Bitcoin and learn how its flaws and its advantages. before and buy Bitcoin. Right now I think it's time you bought Bitcoin if it is capable, but if not, you have to wait for Bitcoin to go down again. then buy and hold it until the time comes, because we all know Bitcoin will come back later.

the most important step before buying bitcoin: Think again.

Know first what is the use of bitcoin for you? are you going to buy and sit it to an storage or are you going to trade it to other coins there are lots of uses of bitcoin right you should know first what is your objective in buying.

Buy from a legit seller or exchanger,do some research and it better for you to have different resources inorder that you have options that you have to choose.Take extra careful of your wallet addresses inorder to avoid getting hacked ,in our country we have local exchanger that is very easy to access and the most important is the legitimacy because nowadays crypto community experiences wallets being hacked,scammers were everywhere that makes investors untrust with this new trend of investments.Another thing to consider is the votality of price,in investing with virtual currency this is inevitible,things that we cannot control,the movements of price will pumps and dumps so you must be aware of it in the first place.

I think you must take a research about bitcoin and what is all about ,also take time to research about reading graph its actually giving help you,and when you know this you can know that when you buy and sell your bitcoin with gaining.

Learn how to create a safe cold wallet, you can create a paper wallet from a offline linux live distro.

Buy bitcoin in dip, price is decreasing now, wait for $7k~5k buy and HODL for long term like 2 or 3 years.

Study the market...that's all....because if you know what kind of market you want to invest with will surely help you to decide whether to invest or not. Bitcoin is a good investment but you must know when to enter the market carefully and ensure you success, otherwise you'll end up losing everything you have.

Savings with disposable cash reserves are the most important thing.    This isn't a game you should be playing if you're playing with the only money you have.

if you want to invest in bitcoin. you should notice is the bitcoin price, because the bitcoin price is always changing every time. if you buy when prices are down then the profits to be gained are greater.

There are many things to look for in the case of buy Btc.First to know about whole the crypto-currency world,then there are all the coins,we have to study-well.It has to be thought a little bit distant because the market condition isn't stable.Btc will be purchasesd to look at the price and the security will also be kept in mind.

before you want to buy bitcoin i think you should have bitcoin wallet to save your bitcoin and exchange account to buy bitcoin because this is necessary if you want to buy bitcoin and don't buy bitcoin personal to personal because it's risky and certainly the main thing besides all of those is money because if you have no money you could not buy bitcoin

Yes, this is the first step you should do if you want to own a bitcoin, find a wallet. In addition, the next thing to do is to secure your wallet. Learning about the security of your bitcoin is very important because if you lose the bitcoins in your bitcoin wallet, they're gone forever and there is absolutely no way to recover them. You should be very careful when making a transaction over the bitcoin network, once the transaction initiated and bitcoin leave your wallet, the process cannot be cancelled.

Before you buy bitcoin all you have to do is look at bitcoin prices and examine the movement of graphs, but if you buy bitcoin at the moment it's very nice to buy at a very cheap price for the current position.

The first thing you need to understand is why you are getting bitcoin in the first place, if you are buying it to use it then you need to get a wallet and see some videos on youtube about how to receive and send a transaction, you need to understand concepts like the transaction fee, the mempool and others, now if what you want to do is to invest in it you need to understand the basics of investing and the possibility of losing money if you do some bad trades.

think about the worst risks of bitcoin, because I've heard a lot of people who break down after they lose a lot of money after losing their investments in bitcoin.

Of course before engaging with anything that has risks, you have to learn the basics of it and how it really works. Read about bitcoin and read about cryptocurrency in general. Yoi should not just learn it, but you have to grasp the whole idea of how it works and how to use it. You need to know every steps you need to know aboit holding bitcoin. Know all its strengths and weaknesses. Discover which suits you, holding, trading, mining, etc.

I think just one thing you need to know about bitcoin, before you start an investment ..
bitcoin is a volatility (bitcoin prices can go up, and can even fall at any time) essentially you should always be ready for the worst, you should be prepare if for example you lose all your investment capital.

Before buying bitcoin, try to read Satoshi Nakamoto's whitepaper. If you try to read it, you will pretty much understand the meaning of bitcoin, its uses, how it functions, ans etc. You can also try reading some articles about bitcoin and about cryptocurrency in general. You can watch videos and try to ask people from forums to get to more about bitcoin. The main point here is, yoi have to understand what bitcoin is and what cryptocurrency is before getting engaged to it

I would be careful to distinguish between buying bitcoin, and buying exchange funds.

If you buy bitcoin directly from someone, then you're buying bitcoin. If you're buying bitcoin on an exchange, it's only exchange credits until you send it to your own wallet.

You can buy bitcoin cheaper by sending fiat to exchanges

Before buying bitcoin you must know about bitcoin and you are ranking study or learn more about it through reading some threads you got some ideas to know about altcoin and cryptocurencies and how to trade.

you need to study about crypto then do invest after that,i will teach you some basics here that you should do in crypto first try to create account in some exchanger here then monitor the price of different coins like a month or more then you will see the price in that go high and low so that's one of way to earn here then after that try to spend some time to read different kinds of news here and you will learn some ideas there why the price of different coins so volatile

What you need is:
- a wallet
- and exchange account (most exchanges also have a wallet, although this is not recommended)

What you should have:
- understanding the process of trading crypto
- understanding how to use a wallet
- understanding the market
- understanding the risks

Hope this helps!

Do your research before you decide to invest in any cryptocurrency. You should know that the market is particularly volatile right now, so you are likely to experience some losses over the next few days. I would start by looking at the various different places you can buy BTC, and work out which is best for you, e.g. Coinbase, localbitcoins or through an exchange.

You sound like you're brand new. What I would recommend is that you get a wallet. You can go with a desktop wallet or an online wallet. Next, buy a very small amount on Coinbase or whatever fiat to BTC gateway service is available where you live. By small amount, I really do mean small amount, no more than 10 to 20 USD. That way you can have the experience of owning BTC and familiarize yourself with the process of buying it without putting a huge amount at risk. Once you get your hands on some BTC you'll start looking at the market charts differently. If you like owning BTC, you can repeat the small buy next week, and keep doing it every week until you accumulate a more significant amount.

In the mean time, keep educating yourself about Bitcoin and the entire cryptocurrency industry. Read lots of articles, hang out here, read posts from people who are more experienced. Learn about some other coins like DMD Diamond, DNotes, NEM, etc. and practice buying a small amount on an exchange such as BitTrex with your BTC.  

Once you are comfortable dealing with small amounts, then you can start working with larger amounts while you keep educating yourself. Ultimately, you decide how much you want to put in. Just follow this simple rule: only invest what you can afford to lose.

Good luck!

Before buying Bitcoin, you need to study the conditions of the market as a whole. The price of Bitcoin and Altcoin is correlated, so at the rate of one currency one can predict the rate of another. You also need to understand that your investments will not pay off quickly, you need to be patient and wait for the right time to sell Bitcoin. In the field of crypto currency, waiting is the most difficult thing. You also need to be aware of the risk at which you go and be prepared for a possible failure. If you do not know how to accept defeats, then it's better not to deal with crypto-currencies at all.

These are the steps, in my opinion:

1. Read alot about Bitcoin and Blockchain
2. Learn how Blockchain works, what is a wallet, a public key, a private key, a transaction, a block, etc.
3. If you want to trade Bitcoin and you're not already a trader, learn some Technical Analysis
4. Read alot about other cryptocurrencies (starting from the majors)
5. Create a wallet or buy an hardware wallet
6. Create a profile on an Exchange
7. Validate your profile
8. Wait for a good entry price
9. Buy Bitcoin or other cryptos
10. Buy a Lambo  

First you need to know what is bitcoin before buying it and only invest the amount which you can afford to lose.

Then you need to buy bitcoins from exchange choose the best exchange like coinbase,but I always used to buy on localbitcoin.com because coinbase is not available in my country.

Then choose an wallet like Ledger Nano S or Electrum to keep it for future usage.

First point is to know the volatility of the Bitcoin Market and what you are getting into. Its a very unpredictable one. Follow the old mans saying "Invest how much you can afford to loose". So if tomorrow the price tanks to $5000 or below you shouldn't have a migraine up your head. So once that's done and you are all set learn what is Bitcoin at its basic preferably from a youtube video so you can understand it at a layman's terms. It is better to learn the tech part of it. Also very interesting.

Next thing is to choose your wallet. Now wallets have something called the private key which is like your key to open a lock. Most of the wallets online don't provide you. So if you store large amounts of Bitcoins there and tomorrow the wallet goes mia you shouldn't complain about losing your Bitcoins. Better get a wallet which gives you access to your private keys. You can google about it. You can store a few Bitcoin in a web wallet so you can spend it on the go. Also make sure you note down the seed words which is help you in to recover funds which disaster strikes.

Ones that's done you can purchase the Bitcoin from anywhere feasible depending on where you live and transfer them to your wallet and hold it for the future. If you are lucky the price might go to $25000 or higher or lower than today. Think of it as an investment or an asset. And if you are a risk taker you can try trading. But its highly not suggested to do so.

Hope this helps and if you need any more information PM me so I can explain you about it.

You should know what is private keys and that you have to keep those a secret, don't use online services like exchanges to store your bitcoin. Because with them you don't have ownership of your bitcoins, but you trust 3rd party with it. Go with good and reputable exchanges such as coinbase (gdax), gemini, kraken.

Don't belive any website that promise to get you easy and quick money, but investigate and if you have to ask about that service here. There are many scams and ponzi scemes which is why you want to make sure website is legit.

You should know things aside from holding bitcoin itself, what are the other things you can do with the bitcoin. It is like you should know that you can trade using bitcoin right? Like knowing the basic also of Bitcoin and purposes of altcoins.

First is check the stability of bitcoin. Always check and research its curve before buying bitcoin.
Second is being knowledgeable about bitcoin. Bitcoin's value is volatile which means its value fluctuates continuously. But as the record shows, when the value dumps, it some time it will regain its value and pump again which means, if the value of bitcoin dumps, it is the better time to buy because you can buy a lower amount of bitcoin but it will surely pump again as time goes by.

Well, first you need to do is to find a wallet, As of the moment, there are many wallets that support Bitcoin. Please read this article to know how to choose a wallet https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151,

After you have chosen a wallet, you can now buy bitcoin. Buying bitcoin is really easy, you can either buy it, from exchange, people and some bank also offer this but of course, it really depends on your current location. But the easiest way to buy it is buying them in coinbase.

But of course to tell you honestly, You must be aware of this first if you really wanted to buy Bitcoin, Bitcoin is very volatile, you may lose or gain money in an instant. So before you buy them, please be advise that you can only invest what you afford to lose.

I am trying to buy bitcoin . i research online take some advise from people who are involve with it ..But to get exact point its bit uncertain ...so what should i need to know before buying bitcoin?