Bitcoin Forum

I currently have around $350 btc, I'm pretty sure btc is gonna drop in the next days, and I'm gonna lose a lot of money if I don't invest it somewhere else. I tried to invest it on OG usernames, but that's still a risk, cause I'm not sure I will ever sell them back, so I only spent $40; I tried to exchange it for Paypal, and still, I'm not sure at all, because Paypal is a pain in the ass, my account is semi verified (only have linked a credit card), my previous accounts have been always limited with large amounts of $, I lost a lot, that's why I'm not willing to lost it again.
Then, how should I keep this money? I was thinking about buying Amazon giftcards, not for personal use ( I don't use Amazon at all), but just as a static "wallet", which I could use to buy other giftcards and sell them again for btc when the price is kind of stable. Would that be possible? Is it possible to buy Amazon Giftcards using my Amazon balance?

buy ETH and hold it and you will profit in the end.
thats where you gotta invest because its where the money goes when btc drops. diversify it later if you find there are interesting crypto which you think can possibly grow. buy some.

Mind explaining how they work?

Hello OP, I think You must move the thread on other section to bitcoins discussion, this section is for talking about security of bitcoins and you have made thread on wrong section.
I hope you can understand about the rules of bitcointalk and for next time, please read the rules carefully before make new thread. Good luck for.

For Poloniex:

- Signup there, fund your Poloniex account with BTC.
- Sell your BTC in exchange of USDT (at current rates).
- After this your balance will be keep as USD.
- In the future you should be able to sell your USD in exchange of BTC again (or some other coin).

See: http://www.marketwired.com/press-release/tether-now-integrated-with-poloniex-exchange-1995274.htm (http://www.marketwired.com/press-release/tether-now-integrated-with-poloniex-exchange-1995274.htm)

For Uphold:

- Signup, select the "USD Card" provided by Uphold.
- Select "Fund with cryptocurrency", they will generate a deposit address for you.
- You send your BTC, it will be keeped as USD.

Currently you have $350 in BTCs, right? When did you buy it? You fear to lose money as the BTC price will probably down soon, so you can sell it now or wait a bit more, when you see the price will down fast, sell it and buy again when the price becomes stable lower than the price we see now.

If you bought the BTCs when they were costing $700-$800 you can make some profit. But if you don't want to sell it, I think the best to do is to continue holding, on long term it's still most probable Bitcoin will have the price increased.

I used to sell a lot of stuff (legally obtained) on different forums in exchange for BTC and managed to earn around $340, in the last few weeks BTC has been rising up and my balance went from $340 to $420. I need to sell it not only because of profit, but because I spent around $80 already and I'm sure the price is going to fall so my losses are gonna be extremely high.
I came to the conclusion that I will convert my btc to eth through shapeshift.io, but I don't know anything about its rates so I really don't know how much I should be supposed to get for a specific amount of btc.

Idk if you ever heard something called google.  But i can help you if you see eth price is 8.3$ according to coinbase so u have 350$ that means you will get 42.16 eth for 350$. But if you get below that after exchanging the difference you get is the fees shapeshift took. Basically there fees isn't that high tbh and also about storing just open a account on coinbase and add a 2FA which means if anyone wants to send btc he needs a code which will be sent to the owners device through an app. If you want just put it in the vault it will 48 to withdraw the btc even after u have verified every single thing. Hope it helped

Still confused? Afraid of investment online or any related thing to that?

Well if that is the case, then it's not the time for you now to deal with the risk of investing online since you are afraid. You are confused on your experience online. Wanna take a break at the real world? Convert your bitcoin now and start doing business and investment in the real world. It's up to you what you preferred. And use the earnings there to buy again bitcoin on regular basis.

It will take time just be patience. It will be a good success if handled properly.

If you afraid to lose money then you should not spend those bitcoin and its really normal for bitcoin to drop its price but it wont dip too much.If you bought 800-900 then there are risk to lose profits or decreasing your money if bitcoin price will bounce down but don't panic because it will eventually rise up on longer runs.

Hmm, understood. I don't deal with altcoins, what I would do is to exchange BTCs to dollar, wait the BTC price falls and exchange the dollar to BTCs again to continue holding it. I trust more Bitcoins, so I prefer to deal in big amounts only with this. But you can ask in Alt coins section (https://bitcointalk.org/index.php?board=67.0) your doubts about it.

Sorry, I don't have Skype.

Just open an account on a trading site like coinbase, poloniex, kraken, bitfinex, or a multitude of others.  Deposit your bitcoin and sell to USD and you can hold the USD on their site.  Then when your ready to buy back in, you can instantly purchase the btc back.

Well,There are many ways to store Bitcoins but while we are talking about safety a backup of your wallet should be need.So in the cases I'd like recommend you using poloniex.They're pretty safe so simply open it and use it.

Just write your private keys on a paper. That's the safest option.

Memorize them if you have a strong password memory. That's even safer.

3rd option is using electrum wallet. I personally do this one. But i ll start working to memorize my private key as soon as possible.

Wallets can be hacked, papers can be destroyed but nobody can enter my mind. I i lose my mind somehow, it won't matter anyway :D

Trezor!!

You can check bitcoinwisdom.com then you will see many exchange there, such as bitfinex, kraken, okcoin, and others you can sign up there on which of them you like to put your investment then you can do sell or buy its up you. but can ask other about your problems, this is just an advice.

Thank you all for your responses.
I ended up making a Bittrex account and converting my BTC into Tether through Shapeshift.io
Thoughts?

I've never heard of Tether before until this post, so I looked their service up. Their business model seems quite interesting and if their service is as advertised, I think your decision was fine. Does Tether have a bitcointalk thread that people can look through?

i can't see any tracks on them in this furom so im wandering how legit they are and where we can see some feedbacks among their service offered? But on another hand its truly great for hin to open up an bittrex account and let him explore on which altcoin who is promising so that he can earn some profits in another way but.just make sure that we got some knowledge bullets on this so that we can avoid losses, and its better to have many alternatives rather than focusing on one.

If you want to buy amazon gift card with bitcoins, than you need to be in US because outside US it's not possible. Also if paypal is so painful, than why are you using it? Try skrill and etc. I suggest you to use poloniex, signup here, load your bitcoins and than exchange them and hold that btc on poloniex wallet, to my mind they are safe and also US based.

Just convert it to altcoins like eth or maybe xmr as eth won't give u a big profit and loss is also less and for xmr the price is increasing. So as you said you are fully sure the price of bitcoin is going to drop then convert it to anyone you may get a profit from these coins when bitcoin price falls down convert back to bitcoin.
Also I wouldn't recommend you to convert to PayPal because converting it back to btc is really frustrating and takes lot's of fees.

Like I said I already converted it to an altcoin called Tether which is static, that means 1 USDT(theter)=1 USD and it will always be like this. But I also invested like $50 on xmr and I'll keep it there for a year I guess.
And by the way, fuck Paypal, I'll never use that.

XMR is going to moon over and over so keeping it will be profitable, its not going to happen over night though but its a good invest so long as its going to be kept and hold. darknet as far as i know are into untraceable coins as such. its no wonder we're seeing competition to all these anon coins.

Just keep it on an offline wallet like electrum and don't invest it anywhere. Keeping it any exchange site or online is not 100% safe from hacking so it's better sealed off in a cold storage wallet. Just make sure that you locked it with a password to make it more impenetrable for hackers.

I had a friend who used BTC to top up the prepaid Mobile balance. He was getting the money out by topping up balance for his friends and family. But wise thing is to hold your BTC in paperwallet or hardware wallet.

Put your bitcoin on hard wallet if you want to store it on safety place, but 350$ is very cheap make it 10,000$ because in the future the value of bitcoin is become so expensive.

Keep it on a trezor or nano wallet and make it sleep for few years and open it only when btc reached $100k.

If you do not have much btc then it is good to keep it online and if you have more btc then keep some btc in offline and some in online so that you can purchase whenever you wish to buy any altcoins or good etc. Also you can convert to altcoin and make some quick profits and can convert back to btc again.

Just transfer it all on an online cold storage wallet like electrum and you can sleep well that your bitcoin are safe.
Don't use online site wallets like coinbase because Mt.Gox had an incident that many members there got hacked all their btcs.

I don't take too much risk also. Therefore I always sell my bitcoin to local exchangers in my country. I have been trying to come up with great ideas around my areas how some one can convert its bitcoin to my local currency through pos and I think you also check on pos service around you or atm. investing your bitcoin into some cheap coins is another way to save your earnings when bitcoin is about to make a corrections.

I think bitcoiners.now keep their bitcoin dollar because of up coming price increase. Every bitcoiners are waiting for the pump of bitcoin. Because its very important on motoring of price of bitcoin. So that you can profit big amount.Holding bitcoin now is the best investment of a bitcoiner, because soon bitcoin price will multiply.

You may keep your bitcoins in wallet or binance since they are the trusted places. I also would like to hear from you if there are nore trusted platforms.

Nope. Keeping it on hardware or offline wallets is still the safest.

In the event that you reluctant to lose cash then you ought not spend those bitcoin and its extremely typical for bitcoin to drop its cost yet it wont plunge too much.If you purchased 700-800 at that point there are hazard to lose benefits or diminishing your cash if bitcoin cost will bob down yet don't freeze since it will in the long run ascend on longer runs.

If you want to store your bitcoins for few years then you should consider paper wallets instead of hardware wallets. Hardware wallets are good for every day using safely.

Don't know how long it will take to reach that $100K level. Since a lot of mainstream businesses are starting to accept then mostly it may reach that price tag soon or later. Bitcoin needs to fix the issues of high transaction fees and faster confirmation to go prices high fast.

trezor or paper wallet, both are great for long term.

can't wait for lighting network to be implement, BTC will be practical again, no more high fees, and instant confirmation. the more businesses get on board, the higher it'll go in price vs fiat. for now just HODL

I think you should download the wallet applications such as binance, coinbase, blockchain, MEW, etc. These are reputable applications that keep your money at peak, avoiding hacker access and theft your money. Wish you have a nice day  ;D

Online web wallets, like blockchain.info, Coinbase, etc. In generally, all wallets which keep the private key on their servers.

Actually, if you just fear of missing out, just don't sell your bitcoin, it's not going to fall significantly to $8K because someone says so.
If you are fear of losses are gonna be extremely high, yes, just go ahead. But, how about if bitcoin rise to $20K again in the next year?
Are you in hurry to get cash or just want to cut the loss and get the profits as long as bitcoin still profitable? If you can wait few weeks, I'm sure bitcoin can recover to $20K again, it just time matter and your patience.

Better keep your BTC somewhere like cold storage.

Trezor or Ledger Nano S. Good luck!

Well, so much so much depends on the type of question you have.
Should be more precise