Advice on Getting Started with BTC

[Godly]

Hey guys! I'm trying to get into BTC since I think it'd be easier for me to build up some cash if I eventually sell whatever I got. Also to buy an account from sellers that only take BTC.

So basically, I'm in need of some advice on how to get started with BTC. I haven't made a wallet or an account (whatever it is) and just want some tips on when to buy, how much to start with for an investment, and really just some good things to know about it in general.

Main question: Is it worth it?

Thanks!

 

[Maddy]

Use blockchain

 

[Godly]

Use blockchain

Elaborate pls? I looked it up and I'm stumped lol.

remember i'm trying to get help, i know nothing about this stuff

 

[Flipora]

Elaborate pls? I looked it up and I'm stumped lol.

remember i'm trying to get help, i know nothing about this stuff

blockchain is a wallet. that is where you hold the bitcoin. you will get a wallet code once you sign up, buy bitcoin and tell people to send money to that code. the code changes every time you recieve bitcoin so don't just send the same code every time

 

[Godly]

blockchain is a wallet. that is where you hold the bitcoin. you will get a wallet code once you sign up, buy bitcoin and tell people to send money to that code. the code changes every time you recieve bitcoin so don't just send the same code every time

oh ok ty

now by "money" do you mean they send you BTC or is it deadass like pp money and it converts?

edit: i sound like an idiot

 

[Maddy]

oh ok ty

now by "money" do you mean they send you BTC or is it deadass like pp money and it converts?

edit: i sound like an idiot

They send you btc, but it shows as a USD value amount, but like you would send the person PayPal.

 

[Godly]

They send you btc, but it shows as a USD value amount, but like you would send the person PayPal.

Ahh ok i get it now.[DOUBLEPOST=1563324786][/DOUBLEPOST]Now, when would you guys say it is the best time to invest, and how much do you think I should start off with.

 

[Godly]

There is not really a right time to buy bitcoin. if you believe it has a chance of becoming a long-term trusted store of value, it is a good investment with a nice expected return. If you want to trade it to make quick profit i would recommend reading and watching some youtube videos about it first. If you are going to buy a small amount of crypto (under 5k) i would recommend going with Coinbase.com, this platform supports mobile and computers. Remember you need to be 18+ to get verified on 99,9% of crypto platforms.

I was told that the best time to buy is when its low so i was confirming that.

 

[punctured]

I was told that the best time to buy is when its low so i was confirming that.

you always want to buy a fluctuating currency when it’s low, if you buy when it’s high then it can only go down in value. if you start while it’s low, it has potential to increase.

use blockchain.info, there’s some info there about how bitcoin works and you can also create a wallet through them. it’s free and doesn’t require any sort of verification.

 

[punctured]

I can tell that you do not have alot of experience with crypto (not that i have that either) you are saying '' if you buy when it’s high then it can only go down in value'' that is completely false, yes buying bitcoin ''low'' is good but it still depends on why you are investing in it. Btw to buy any form of crypto on the platform ''Blockchain'' that you recommended, you need to verify your age with a government issued ID.

you don’t need an ID to use the wallet, i don’t think i ever said that you could buy through blockchain with no ID.

regardless, he’s talking about investing. remember in 2017 when there were people putting their life savings into bitcoin at 20k? yeah don’t buy high.

i’ve done tens of thousands of transactions through bitcoin and other various currencies, i’m decently versed.

 

[Godly]

thanks for all the advice/help guys & gals. I'm gonna try to look into it more and make a decision from there.

oh & just to confirm im investing in it for not only (hopefully) long term profit but also to make it easier to buy certain things on MCM.

 

[Herku_]

Mine on a public mining pool or get a windows VPS and mine on it 24 / 7. Or just cloud mine

 

[Godly]

Mine on a public mining pool or get a windows VPS and mine on it 24 / 7. Or just cloud mine

 

[Herku_]

If you a confused:

Cloud mining is basically mining on a website without you using any of your CPU power. It almost always does have a bitcoin wallet coming with it.

A VPS is a virtual private server. Normally it is used for hosting but you can use it for other stuff.