Bitcoin Forum

Hi all,

I'm KarlaJay and i'm a camgirl newbie in bitcoin world. I recently started streaming at Xotika.TV and i need some advice regarding my earnings.

Let's say i make 1 bitcoin / month. First of all i only want to convert part of them and i see sometimes the price is higher and sometimes lower.

Is there some sort of trusted trader or a place where i can keep them ? Everywhere i read its full of warnings not to trust anyone and always guard your coins and stuff.

Is it possible to somehow let someone else handle them , exchange to fiat part of them when price is high, etc ?

I'm not even sure what kind of advice i'm asking for.

Thanks in advance anyways,

(NSFW - http://imgur.com/FkxiWwu )

 I watched your show last night. You are spectacular ! By the way, my advice is don't spend your coins. Hold everything you earn! See you soon :*

Save your spare coins on paper wallet so it will be safe from hackers since you are always connected to the internet

I'd recommend to keep all of them , at least this is what I would do with my coins if I were you .
If you don't want to do that then there is few exchanges around like Bitstamp , BTC-E , Bitfinex (those are trusted and well known) I'm not sure about the withdrawal methods though . Or you can use Localbitcoins to meet face to face with the buyer and trade for cash or other payment methods .
Now if you mean something automatic that will sell your coins automatically when the price is high and hold when the price is low then I'm not sure about that but maybe there is some kind of BOTs programmed . But beware you shouldn't download tools that you don't know their source otherwise you may finish losing your coins instead of making profit .

welcome!

you got three options in my opinion:

1. keep all

2. convert some to FIAT via exchanges like coinbase.com, localbitcoins.com, ccedk.com

3. convert your Bitcoin to stable cryptocurrencies like nubits or bitshares bitusd - 1 nubit/busd is always worth 1 real USD

My advise is keep 50% your bitcoin. Only use 25% bitcoin when you need fiat.

And for the rest, you can trade your bitcoin in exchange.

You are likely to get a lot of very bad advice on this forum.

There are a significant number of registered users on this forum that have chosen to be join advertising campaigns that pay them for spamming advertisements all over the discussion threads.  These people generally don't actually care about helping you and are happy to just make up any response at all to anything you say, just so they can get the advertisement in the discussion thread.  You can typically identify these people by the colorful advertisement at the bottom of their post in the section of their post that is typically called the "signature area".

Be very careful about believing anything they say.  There is a very good chance that they have no idea what they are talking about.  Most of the time, your best bet is to just click the "ignore" link just below their userID so that you don't see any of their nonsense in the future.

That being said, to answer your questions:

Your options for where you can store your bitcoins or exchange them for local currency depends on what country you live in.

There are several businesses where you can send your bitcoins and exchange them for your local currency if you wish to do that.

There are also websites that can help you find local individuals that want bitcoins.  Through these websites you can make arrangements to meet up in a public place to exchange your bitcoins for their cash.

Additionally there are businesses that are willing to accept bitcoin directly as payment for products or services.  For example, expedia.com, overstock.com, tigerdirect.com, Golden Gate casino in Las Vegas, and many many more.

As for exchanging when the price is high, that is an almost impossible thing to predict.  The exchange rate fluctuates based on market demand.  There is nobody in direct control of the exchange rate, and it is impossible to know for certain at any time whether the price will go up higher than it is at that time or will drop lower.  If you know what exchange rate you'd like to get for the bitcoins, then you can make arrangements to only exchange your bitcoins when they are at your target price (or higher).

There is software that you can run on your computer (typically called a "bitcoin wallet") that will allow you to receive, store, and send your bitcoins completely under your own control.  Of course if your computer gets hacked or becomes infected with malware, then someone else with control of your computer could take the bitcoins.  It is up to you to keep your computer secure.

There are also businesses that will offer to hold your bitcoins for you.  They will provide you with an "account", and will receive and send bitcoins for you much like a bank will receive and send local currency for you. Most of these businesses are not audited. They are unregulated and uninsured.  If the business were to disappear, or get hacked, or if an employee were to decide to steal bitcoins then you could lose all your bitcoins.

If you have bitcoins that you don't plan to spend or exchange anytime soon, then it is possible to have a bitcoin address that is completely offline (such as on a piece of paper).  As long as this address is generated securely, it is very safe against hacking and viruses.  It is then up to you to keep that offline information safe from destruction or physical theft.

If you want to talk more about any of these concepts or would like additional information, just let me know.

Nice show you got there. Good to have girl in here too.
I would suggest you just keep those coins, in offline wallet. Just keep them for few years if you do not have need for spending them. Tehy will gain value over time.
If you need to convert them to some cash, use big exchanges already metioned here: Bitstamp and so on.

As others have said the country you are based in will come into play in determining the best way to do this. 
There are companies out there for example Coinbase and circle which allow you to store your btc and sell them for fiat as and when you need to but it is a manual process for you to decide how much and when you want to sell.

From reading your op it sounds like you are looking for a hassle free easy to do process, I mention those two companies as examples, there are many other companies as DannyHamilton states and there will be varying fees involved, my advice would be to spend a bit of time as you are doing and research any company/exchange that will hold your bitcoin so you can make an informed decision.

Well, there are some honest traders here on the board. i have one who took almost all of my coins for a good price. not for the market price but very near.

if you are from a European country i would recommend to use of the legit BTC<->EUR SEPA-based exchanges.

i think you got lot of advices of how you can use and what you have to do, i will just tell what i do to save it, i am having hardware wallet in which i keep the bitcoins which i dont want to use it for immediate but for future savings , apart from that other part of earnings i keep in my online wallet through which i use to do sports betting, and recharge my mobile and do some online shopping. so you can now choose to use it which ever way you want. If you want any help you are free to contact me via thread or PM.

it might be  a good idea to get a xapo wallet, it seems secure, you can have multiple addresses, although for trading you would have to send manually to an exchange(some if verified can send funds right to bank accounts) or similar to exchange to any currency, although they are starting a debit card program might also be worth looking into.  I wonder if others think xapo is safe place to store btc online ?

keep them on a cold storage, without increasing your trouble, just use a usb and do a back up of the "wallet.dat" file that you find in the %appdata%(type this on windows search) under the bitcoin folder

the price is based on demand and supply so the swing are greater than forex or anythign else

The best I could suggest you is to make a coinbase account and keep your BTC there.
Enable all 2FA securing methods, so you don't lose your bits.

there are many ways to earn bitcoins
1) you can mine btc through gpu's mining
2) you can invest
3) you should wait ....if you have btc...and after increasing value of btc , you can sell
4) here is also a great platform , to became a member of this site by posting your useful reply to questions.
5) but take care don't try to gambling , because in this way u can loss all your btc that is used by you to bet.

Do you even know how to read?

Im pretty sure he didnt read what is written in the op and he only based his reply to the title of this thread.  It happens always specially here in this section of the forum

Yeah, that's really annoying. Such people should get banned from here, without knowing the reason they got banned.

If you decide to sell some of your coins and you use a site like Localbitcoins.com to get hold of someone in your area, you should be very cautious of scammers or even possibly

thieves, who will go through a lot of trouble to rob you of your coins. Take someone with you and meet in a public place. I would suggest that you hold onto those coins for a

little longer, until you have done some homework and learned a bit more about Bitcoin and how it works and where to buy and sell it. Not all posters on this forum with the colorful

signature at the bottom, are out to give you bad advice. Some are genuinely interested to help other people on this forum. Hope my advice helped you in a way... hope you have

a nice journey with us here in the Bitcoin world.  ;)  Stay Safe.

I also recommend keeping them.  Prices will go up and down for some time.  I personally use coinbase for one of my wallets.  On coinbase, you can exchange your BTC for USD and then back to BTC whenever you want.  So when they go up, and you think they are going to go down, sell them for USD and then when (if) they go down, you can buy BTC back.  I would not do this, but this is an option.  I would just keep them though.

There are some services to convert bitcoin to other currencies. Either online (cryptocurrencies), real life trading and using banks. The best option depends on the country you live in.  Some places have two-way ATMs.  Another option is to exchange them for gift cards (gyft.com) and sell or use those cards.

You need to save all of your coins.
Don't spend it.

Waw! Thanks a lot for all the helpful replies. I was away for the weekend but now i'm back online.

So i allready have a mycelium wallet on my smartphone and i didn't yet got to the part where i need to change them for cash. I'm considering on holding. I was more curious if there are some safe investment places where you can deposit and get some % like when you deposit money into a bank and yuo get some sort of interest? .
Thanks again for all the answers.

Kisses

You should simply hold your bitcoin. Do not invest in anything, since you're still new, and there are a lot of people who will try to steal your magic internet money.

Most of ïnvest here and become rich" sites are ponzi/scam sites.

I agree with some of the others, you should be saving your coins.  Only spend what you need for your general daily expenses and save the rest of them.  The prices in coins will go up and down and you should watch the Altcoin market, for if those coins go down, you should sell or exchange for BTC.

There are exchanges where you can change bitcoin to other currencies. This is reasonably safe, depending on the owner of the site. If you exchange for another currency ($), the amount of value won't rise or drop as fast. If you 'surf' the rise/drop wave well, you can earn more than interest. For example, with trading bitcoin you can make 25% profit this month. https://blockchain.info/charts/market-price (https://blockchain.info/charts/market-price)

There are no sites where you deposit and get interest, except lending sites. This is one of the methods banks earn money. Be very careful with lending (sites), there are many scammers.

Hi KarlaJay,

Welcome to the forum and to the Bitcoin world! :) You have gotten many great advices above. Let me just advise you that you should try and learn the basics about Bitcoin. Informations are everywhere online and on YouTube you will find many tutorials.

You need to learn about simple transactions, how to save your coins and secure them and a bit about exchanges. It's good that you have come here asking us for advices but hardly anyone will explain you everything you need to know in just one post!

It's your responsibility to educate yourself and then when you don't understand something that you have read, come here and we will gladly help you!

Good luck!

man are you kidding its like free money just doing your show. Definitely save them! at least until it gets back above 500$ then you can sell some here and there.

Saving them would be the key.  Find somewhere to put some investments in, this way, you can make money while your money is sitting there, but I would not invest everything.  Do only 10% of your income.  This is a safe bet and you never know.  Aster a 12 month period, you may have grown that 10% into 20%!!

This kind of question is what the warnings are all about. Of course there are trusted users on the forum but it is best to not having to trust others. Because if they take your coins you have not much you can do against.

If you want to sell your best bet would be to use one of the big exchanges. Like kraken.com, bitstamp or bitfinex. Don't let your coins lay around there, hold them safe in your computer without viruses and such. Then when you want to sell send them to the exchange, exchange them and withdraw the fiat money.

Or if you need cash you might use localbitcoins or the mycelium app that includes a similar service like localbitcoins. You then can meet a trader at a McDonals or something, search a calm edge and exchange the money so that not everyone can see it.

u cant say that..may be he doesnt understand english in the first place ;D

Better to HOLD it on your safe wallet/cold wallet, too much investment based on ponzi scheme out there.
The best thing is HOLD and sell on high rate.

i have one advice for you stay away from gambling is pretty addictive and you wil lose your earnings in matter of seconds