Bitcoin Forum

Hello,

THIS IS A QUESTION FOR EXPERIENCED TRADERS IN BITCOIN

I am a novice in BTC but have been lucky so far. I bought BTC at under $2000 and have now sold it at $4100. I am sure that I have made some mistakes in the way that I have bought, stored and sold the BTC.

I now want to trade both long term and short term in BTC. I want to trade in minimum USD $10,000 blocks

Long Term What is the "best practice" processes to buy and sell BTC?

Where is the best place to buy BTC using USDs

Where is  the best place to store BTC using USDs. As a result of my limited research, security seems to be a major issue. I am prepared to buy a dedicated computer solely to store the BTCs if necessary

What is the best place to Sell BTC using USDs

You can try coinbase, I think coinbase is your answer.
There you can store bitcoin and usd, i also used to save bitcoin and usd and coinbase quite easy to understand.

It's pretty simple when you're buying BTC, just look for the least price in and around that time. Also, look for an exchange where the price is least, make sure the site is reputed with high volume trades.

About storage, just use a stable hardware wallet such as Trezor or Electrum and make sure you use a strong password and other security measures like 2FA.

You can buy or sell BTC against USD at Coinbase and Local bitcoin. For storing BTC long term, you can buy hardware wallets such as Trezor, Ledger, Keepkey. IMO there is no need for a computer solely to store BTC. The hardware wallets are easy to use and convenient.  It is not recommended to store your BTC in exchanges because you do not have controls over your BTC.

If you want do practice trading you must use demo account on bitfinex, it is good practice to testing your skill on trading
the bitfinex's market is good to buy using USDs due to you can trade altcoins too,
The best wallet to stores bitcoins is never put the funds on one kinds of wallets, you can use online and offline wallet bitcoins
Bitfinex is the best place to sell bitcoins using USDs.

As long as you have confidence that you have a computer that's not going to become irreparable or damaged, and you have no intention of moving around anytime soon then obviously the best choice is a nice lightweight software wallet, make sure the coins are in there and thoroughly confirmed, shut it down and leave it alone except for possibly making a backup of the wallet data in a different location.

Any devise that it is online are never safe. I suggest that it is better to have one of these hardware wallets to store your bitcoins long term. Or better yet, use paper wallet. As for the exchanges, when you want security you may want to use decentralise exchange (bitsquare). If you're okay with custodial exchanges then go ahead and use it, when trading you may want to consider volume as a factor. Go for the exchanges that has the highest volume.

Pretty simple it is exactly. You have to make an eye on the marketplace where you will be just seeing the price charts. Price is low, just grab a bitcoin and wait for time when price gets high sell it. Have profit. You investment can give you better results if you choose a better exchange that cuts least from your amount to convert BTC in required currency. Plus Electrum is really amazing as far as storing coins are concerned.

You need to store your BTC on your own cold storage, the best solution to be safe. If you don't do short-term trading with btc off course.

You need to have a close watch on the price movements and as soon as you feel that this is the good and low price then buy it on the spot and keep them safe in your wallet and I would recommend you to store your coins in electrum wallet as its very safe and secure and your coins will always be safe in it and no one would be in position to hack your wallet and steal your coins.

To invest safely in bitcoin for long term, you need to invest in bitcoin regularly because it will help you to get the possible average price of bitcoin which is what you need so you can balance the high price and also the low price but if you want to buy at once then just stick to your plan for long term because you will still earn money by doing it.

Can you advise me as to the the three biggest (best reputation) exchanges?

Also, how can I be sure that Trezor or Electrum won't "do a MtGox" and have my Bitcoins disappear?

Can you please explain some of the terms you have used.
What is a hardware wallet?
What is a paper wallet?
What is a decentralised exchange vs a custodial exchange? What are the names of the  bigger decentralised exchanges.
What are the names of the exchanges with the highest volumes?
 

That's the first suggestion I would give you as well, the coinbase. It is very good site to work with, deposits and withdrawals are very easy. Your bitcoin order is processed immediately and also the price machine is very good in buy and sell.


Speaking about your special computer solely for bitcoin, I wouldn't recommend it as there is no reason for that. To be honest you are storing your bitcoin on a wallet which operates online and the servers are dedicated for it. You just need to keep safe your private keys, keystone file, or UTC file so that you can access your wallets easily. For this you can have small flash drive just in case.


For private key based wallet I will suggest you electrum wallet. Simple and secure.

For a long term, you can buy on the exchange that have low price, store into safe wallet and sell on the exchange that have high price (in this case you use 2 exchange to do a trade, but long term), you can use this site: https://bitcoinaverage.com/en/currency-markets/btc-to-usd to do a comparison.

For a short term, you should consider the volume too and keep in touch with the news, if you can read the chart it's better.


Trezor is hardware wallet, electrum is lightweight wallet and mt.gox is the exchange. Those all is different thing, with trezor and electrum you hold private key of your wallet, so nobody can steal your btc, unless your device/PC infected by the virus/malware/malicious thing which can hack/steal your coin, so you need to careful while browsing/do internet activity.

Your questions are expected and also valid. I guess every member here once had issues bothering on the areas you just asked your questions. But dude you have to take out time to read the thread on The Beginners section. Most of these questions are tackled there. That was what I did in my confusion.

I would suggest you to use any android device which you dont use regularly. I dont see any difference between that and a Trezor wallet. Send all your Bitcoins in an android wallet in that device like mycelium and take a backup of everything, seeds and private keys. Dont connect it to Internet and keep the device safe.

instead of it you can simply export your private key in in pendrive rather than having an android device.but still there is difference while you use hardware wallet like trezor or ledger or simple hardware component of computer or device.if your hardware component is stolen then  in case of pendrive there is no internal security or in case of phone ,rooting is a option but while these hardware wallet ,internal security is there which give extra security to your keys.

One of the best practice can be buying through Coinbase or other exchanges allowing USD purchase and then sending bitcoins to paper wallet. Easiest way to make paper wallet is - bitaddress.org
Once you create paper wallet, simply send bitcoins from Coinbase to wallet address. Make hard copy of that paper wallet and your bitcoins are safer than ever. Now whenever you wish to sell, simply import private keys to wallets such as Electrum and send to exchange.
This process is economical too as it only take 2 blockchain fees as expense.

If you really want to invest your money to the bitcoin make sure first that you have a knowledge to the bitcoin. I can say long term investment is really important to make more profit and knowledge is the key to become successful.

When it comes to trading, this is how I do it and it has been working miracles.
I divide my holdings into three 1. some portion of btc for hodl, 2. Some portion of FIAT for buying back dips in fiat and 3. ALTS & Local currency

I sell some of my btc & ALTS  profits during pumps in exchange for local currency.

I suggest to buy, save or invest using coinbase or it depends on which country you are.If your country has not been supported by coinbase better use Jika negaramu belum didukung oleh coinbase lebih baik gunakanlah ploIf your country has not been supported by coinbase better use local platform to meet your needs in bitcoin investing.You should always observe the bitcoin price movement, if the price falls when you buy, if the price goes up kYou should always observe the bitcoin price movement, if the price falls when you buy, if the price goes up when you sell it.

Better approach, better profit, better life. It is so important to divide your saving/holding in parts. Fix one part for a different stream that must give some good results and so the other parts. Fiat, ALT coins and buying local currency is better way to get over many things at a time. Ultimately they yield even little profit but that sum to be so enough.

If you are not tech savy and are not good at security, or you are lazy, use coinbase vault. If you are tech savy, get a trezor, paper wallet, or offline laptop for signing transactions.

If you have bitcoin you can stored it tl conibase wallet and this very safe wallet and I did not experience any trouble of this wallet. And my bitcoin is safe because they have 2fa when you open your account they sent you a mail to access yoir account. If anyone trying to open your account sent you gmail witb Ip address who wants to open your account. You can use also blockhain wallet it is also safe.

Any online wallet like coinbase is not a safe wallet for your information because it is prone for cyber attacks and it is better and safer to have a paper wallet rather than relying on that online wallet that will lead for possible regret in the future because most of the hackers targeted those online wallet which they can hack and get some money while paper wallet on the other hand is safer because it is an offline wallet and you are holding it physically.

Coinbase is only safe to use as a temporary wallet, if you intend to keep Bitcoin in a long period of time then Bitcoin Core, Electrum, Multibit or Mycelium is the right wallet. Although Coinbase is a trusted website but you do not have access to Private key that will make you lose all your Bitcoin if Coinbase website got hacked. All online wallet is not safe place to store your Bitcoin.

if a person wants progress in his life and he possess a workable computer which he beliefs that is not damageable so he should install the ASAP and open his wallet for bitcoins savage and there is nothing any laborious work just wait and then see your profit

Yes it is a secure option, but much better option is Paper Wallet for me, highly secure if you are careful enough to protect your Private Keys. Best possible option to just receive the coins in wallet and sit back till you see your target profit being reached. And also very easy to use, no tension of your mentioned problems that may occur with Desktop Wallet.

Buy a pile, send it to a cold storage mean and then dig a hole, very deep.
Draw a fessure map where X marks the spot just in case you forget how many steps from the big tree you did dig.
Arrrrghhhhhh

Buying bitcoin is depending on the place where you are located. Like example in my case, we have a merchant here were bitcoin accepted(coins.ph), then this merchant affiliated with 711 convenient store outlet where you are able to buy bitcoin using our own currency then you will only shows the reference bar code after that it will scan it to their cashier machine then you will see in the coins.ph to your wallet over there that you have a balance on the amount you buy in the store outlet.

If longterm what you want in bitcoin it's better to store paperwork or hardwallet because you hold the private key but if it's only a short term for the exchanger to store bitcoin if just incase you would like to pump the pump and dump of bitcoin more You can easily deal with risky there are just a few exchanger that will be affected by the ddos ​​attack

If you're only investing a little amount of money, you can use exchanger out there to exchange your USD to BTC or you can use coinbase to buy them using credit card. You can save the BTC using online wallet like blockchain.
But if you invest like a huge amount, let say 100 BTC for example, it's better to buy a hardware wallet to store your BTC safely

I don’t think so that any Government will take up such steps against Bitcoins. On the other hand, it can happen that Governments of different countries can make it as their National Currency. And this will not be surprising at all for anyone knowing the worth of Bitcoin.

   The most important thing he need to do is to find a good wallet. I have seen ledger and trezor wallets for $30 and up, depends what kind much you wish to pay for protection. There is
no need for experienced traders here, buy when ever you have a chance for that if you plan to hold them for longer, under $5k everything is cheap.
   I have no experience in trading, it is very risky to trade and it is easy to lose bitcoins. Saving is safer, do not pay attention on speculations, people will always have opposed opinions
about bitcoin. You choose do you wish to believe or not, read about it and make your own opinion about bitcoin like I did.

Though you are very lucky to make it in your last investment  according to your testimony and I am very happy for you for making so much at list double your investment. Since you said you are new I think you should study very well to know when to buy and time to sell. To me the best place to buying bitcoin is from localbitcoin! It is more reliable as there provided escrow services and you should store your coin in an online storage.

I agree to that, you need to study hard and study harder because it will serve as your foundation because nothing can beat your education and that is the only thing that anyone cannot get it or stole it from you. Study bitcoin and some of the technical analysis so you can read charts and predict for the possible pattern of the price and decide when to sell or buy.

If you wan to invest safely, invest in the perfect time because maybe when you invested then the price goes low so be careful of that.

>What is the "best practice" processes to buy and sell BTC?

Experienced traders might buy when BTC prices are declining, for this you its worth using technical analysis to help you pick points on the charts for timing of entries.

>Where is the best place to buy BTC using USDs

Seasoned traders may use multiple exchanges, e.g. Gdax, Kraken and Gemini and then they will buy BTC at whichever exchange has the lowest price. Prices diverge from time to time and you might get much better prices at one of the exchanges if you are alert and nimble.

>Where is  the best place to store BTC using USDs. As a result of my limited research, security seems to be a major issue. I am prepared to buy a dedicated computer solely to store ?the BTCs if necessary

The best place for long term storage is a physical hardware wallet such as a Trezor or Ledger Nano so that you control your private keys.

> What is the best place to Sell BTC using USDs

As noted above, watch BTC prices on multiple exchanges, then pick the exchange where you can get the highest when you sell. 

One more important point, I would never sell all of your BTC even if you feel its overvalued in the short term. Its worth keeping some of your BTC as a long term buy and hold.

OP here

Thanks. I will keep this in mind when I do my next buy.

One more from me, to invest in bitcoins for long term, you can make investment in bitcoins weekly, monthly from your income. This strategy will help you to increase your bitcoins, i adopt concept of saving in strategy investing in bitcoins, we can do it continuous every day, weeks or monthly although just a little amount of bitcoins, It will work if you are dicipline the bitcoins will be more rise in the future. Good luck

Though you are very lucky to make it in your last investment  according to your testimony and I am very happy for you for making so much at list double your investment. Since you said you are new I think you should study very well to know when to buy and time to sell.
[/quote]

OP here.

Thanks for your advice. I am an experienced trader and investor. I am waiting for the Bitcoin price to drop before I get back in.
Maybe around the $2500 area. Any market that goes parabolic eventually collapses back to much lower levels.

Is there a way to short this market through a reliable broker?

Since you indent to invest such huge amount I will recommend you safe them in offline wallet like Trezor and others to avoid been hacked online by hackers. Buying bitcoin from coinsbase will be good and safe including Local bitcoin.

Hi Guy,
In online many men can suggest you in many ways but i suggest you that you should learn more and more from online, what is the right way to invest safely Bitcoin. Own suggestion is the best suggestion.
Thanks.

You can try poloniex, because I think poloniex is your answer and there are some altcoins to supplement your income.
There you can store bitcoin, usd and altcoin, I also used to store my assets in poloniex because the security is very good and quite easy to learn.

Your should get some altcoins and keep them for long time especially the first ten higher market capitalization one. For now many altcoins that are less than $10 such as wave,  ripple and lisk will get to $500 one days. So if you really want to make money from cryptocurrency in long term you should invest in altcoins for now instead of bitcoin especially if you objective  is to make profit. It will be hard for bitcoin to get to $8000 before the end of the year but wave can conveniently get $10 and that is double in price for both.

Trading with Bitcoin is always great. ALready you have profited on Bitcoin. If you want to long term trading so you have to hold Bitcoin and some other coins for a long time. Personally, I suggest you for Altcoin or Cryptocurrency trading. It is the platform of make a huge profit. I am also an Altcoin trader.

This is a very effective way for us casual and ordinary investors on how to gradually put money into bitcoin. I also used this method to buy and accumulate it over the course of months or even years. Because with the current price which is too high for us, it would really make sense to just buy in dips in small portion and just save it for the long term. You would not have noticed, but it will grew overtime.


Altcoin as well is a good hedge against bitcoin. Just careful on what altcoins you gonna invest in the beginning. I'm not saying that all altcoins are scam, but choose wisely so the chances of you losing profit will be less. I can't recommend you what coin to invest to, but used your better judgement. IHMO.

OP here.

This strategy has the flaw that in a rising market, your average buy price gets higher and higher and more susceptible to any fall in the price.
 

To invest bitcoin it can be bought on one of the famous trade exchanges, such as Coinbase or Bittrex. To do this, you need to choose the time when it will for some time fall in price. With bitcoin in the long run, you will always be the winner.

Learn how to use paper wallet and keep your paper wallet in a vault.

In any field it will be better to happen anything instead of happening nothing , Here you made bought the bitcoin and also sold at high , so probably it is a sign that you are lucky but what you will say about the people like me who lost the money suddenly in the bitcoin when get started and the price get down and due to fear i sold them .
Here it is more better option for you to do trading for long and short term . First of all you need to make small small trade with different different coins and finally when you get experienced that you made much experience that a particular coin can fluctuate at which range then surely you will be able to make trade with bulk amount of money .
But here my suggestion for you thst don't get into panic anytime because dump and pumping in the price of thr cryptocurrency is a usual thing and we should make profit with them instead to get feard .

I may have been lucky.  But I would NEVER have got into the position of having to sell because of fear.

Your method of buying and selling bitcoin is actually very good but what you missed is the compounding investment. The compound amount is that one which you get from the net profits. You should always reinvest this amount into bitcoin which gives you opportunity to earn pure profits later on. Considering the long term investment you should use wallets with private keys. These keys are the one which you own yourself and not the wallet service provider. This is important because owning private keys gives you complete control of the wallet. This minimise risk of getting your wallet wrecked by the third party. So better go for that one and don't use wallets with exchanger services as they are worst in handling your private keys.

It is never suggested to invest into bitcoins on weekly or monthly basis because the price keeps changing and in the current scenario where prices are increasing day by day, quite foolish it is to invest into bitcoins on weekly basis. For long term, the best thing is to grab bitcoins when there is dumping phase.

I think it in other way as for me buying bitcoins regularly in small parts is the best thing to do as I can hold it longer so even if I buy at current price still I can make profits in future and if you buy 1 btc today and if price drops then you will regret for not waiting longer but if you have bought in small parts you still have an chance to buy at lower price.

1. You need to find a place to buy bitcoins. This can be exchanges such as Bittrex, Kraken and Poloniex. Or P2P transactions.
2. Then you need a safe bitcoin wallet, you will store your bitcoins there.
3. You won't share your wallet's private info to others.

Buy bitcoins from online site depending on your country as I prefer to buy it from localbitcoins and I prefer to save it in my electrum wallet without spending or investing it anywhere as the price of bitcoins is growing so we can make good profits in future simply by keeping them safe in our wallet.

yes long term investment is always better as compare to short term investment, because in short term investment there are always chances of losing money. while in long term investment you do not have to worry about the minor increase and decrease. in long term investment we do not come in panic as we have to wait for a long time.

But if you have invested in good altcoins then you can make good profits in short term as you cannot hold them too longer as it can be risk to loose money in long term so if you are dealing with altcoins and if you have sound knowledge then you can make profits even in short term.

Since you are focused with BTC/USD tradind you will be solely using a web wallet. Coinbase will be the best choice for you, though this type of trading is risky and letting your coins sleep at them, put some of youe bitcoins on an electrum wallet for long term holding, it is secured.

You may thought have lost the chance to trade bitcoin at the peak and buy back at the dips. If you think could make profits by trading bitcoin, go ahead. The best place to buy and sell bitcoin using USD depend on your interest, check GDAX and Bitstamp. These exchanges may have some differences regarding their deposit, fees, and withdrawal process.
To store bitcoin for long term I recommend ledger-nano or trezor wallet, I think it's better than using a dedicated computer to store bitcoin. You can read this : https://www.weusecoins.com/en/find-the-best-bitcoin-wallet/

Coinbase has major security issues. Trading is difficult enough. Hackers stealing your Bitcoins on a daily basis is too much for me.

I have just finished reading the article in Fortune.com (Hacking Coinbase: The Great Bitcoin Bank Robbery)
http://fortune.com/2017/08/22/bitcoin-coinbase-hack/
Coinbase was successfully hacked 30 times in a month. That is an average of once a day.  BTC-e is even worse.
And because Bitcoin is hard to trace, it means that the lost money won't be able to be recovered.

I think the november fork needs to be taken into consideration. it might effect the market significantly.

you can buy BTC in a market that has a high volume of exchange such as bittrex, for storage you can store in bittrex by installing 2FA security.

Saving bitcoins on trading sites is never safe as you never know what will happen to those sites in future as bitfinex scammed many people in the past and ran away with tons of bitcoins of people so its good to buy them and save in offline wallet to keep them safe.

OP here

You should definitely read the article below in the Fortune.com magazine (Hacking Coinbase: The Great Bitcoin Bank Robbery)
http://fortune.com/2017/08/22/bitcoin-coinbase-hack/
Coinbase was successfully hacked 30 times in a month. That is an average of once a day.  BTC-e is even worse.
And because Bitcoin is hard to trace, it means that the lost money won't be able to be recovered.

It also seriously exposes the unbelievable weaknesses in 2FA security.

Oh that happened recently at coinbase? I'm sorry I wasn't updated with coinbase since I'm into major bitcoin-alt coins trading. I thought that coinbase is one of the most secured exchange after all and the rumors are right that they can penetrated easily. Well I did warned that it's risky to let your coins sleep there but if you will just going to pass your coins through I guess there's no problem.

I think the best place to buy, sell or save BTC using USD is Bitfinex, OKchain.
a big market that has been trusted for a long time.

you can buy bitcoin in exchange like kraken, bitstamp, localbitcoin, and other else but if you want to hold for a long term, i suggested you to move your bitcoin from the exchange into your wallet or paper wallet or usb wallet. i think its not safe if you hold in the exchange as we know that the exchange is not always safe so better you save it in your private wallet.

The only way one can have safe investment in bitcoin or crypto currency in general for me is holding your bitcoin for a long period of time pending when the market value of Bitcoin increase before selling. Although this is my own personal opinion .

To inverse in bitcoin safely means you must have knowledge in bitcoin. You should periodically check the value of In every specific period of time.You must save your bitcoin for longer termto get more profit. You keep in a wallet and make some security password for that account to make it safely.

Ya making bitcoin from any altcoin is the best option to make more bitcoin. If you more profit from bitcoin means you can hold it for longer to long period .Selling at high price for bitcoin good option. Instead of brought new bitcoin you may hold the bitcoin from Campaign and save that for long.

I think the best way to earn a handsome profit in rising as well as in falling market is to buy and sell systematically through distributed investment plan in stead of buying and selling in one single shot.


Making a distributed purchase at short intervals of time helps us to grab the benefit of volatile market behaviour. Please do your own research before implementing any strategy, I have been using this strategy and it is working for me but that doesn't mean it will work for you too.

OP here.

Thanks for your advice. I am an experienced trader and investor. I am waiting for the Bitcoin price to drop before I get back in.
Maybe around the $2500 area. Any market that goes parabolic eventually collapses back to much lower levels.

Is there a way to short this market through a reliable broker?

[/quote]

Bitcoin is starting to get down to my target area.  Currently at $4180. Down from $4969.  Thats down 16% in less than 2 days.
Ethereum is now down from $391 to current $295. Thats down 25% in less than 2 days.

I love this market

Here is the reason for the fall in Bitcoin and Etherium.
http://www.zerohedge.com/news/2017-09-04/ethereum-bitcoin-crash-after-china-declares-initial-coin-offerings-illegal

"Ethereum and bitcoin are crashing this morning, after China confirmed its recent threat of an ICO crackdown (reported here last Monday) when the central bank said on Monday that initial coin offerings are illegal and disrupt financial markets, according to statement on China’s central bank website. The PBOC also asked all related fundraising activity to be halted immediately, issuing the strongest regulatory challenge so far to the controversial if surging market for digital token sales."

no one tell you that online system are safe,but I you have perfect knowledge about online then it will be safe.becouse you know how to use your money. yes,coinbase platform is the most popular and save to invest your btc.

Buy now as much as you can, then save it in the hardware wallet. Write the the key, make sure that you are not loss the key. Don't be afraid if the price of bitcoin is fall because it will go up again.

yes, I agree with you that there is no safe deposit of money online. in addition to hackers the absence of any internet connection can be a cause you lose your money. but currently the risk is very small.
the safest way is not to put all your money in bitcoin.

But really where has business ever been easy or rosy? Nowhere! It is not easy with any kind of business including the offline businesses. Go ask an uncle or aunt who runs an offline store or shop, you would be amazed to know the level of risk they also take. To this I would say to everyone indulge in what catches your fancy...There isn't any free lunch anywhere, not even in Freetown.

OP here

That is a terrible way to trade or invest in Bitcoin.

When a commodity is as volatile as these cryptos, it is much easier to trade both on a short term and long term basis using price targets.

I have bought into Bitcoin at under $2000, sold a couple of weeks later at $4100

I am now waiting for it to fall to around $2500 where I buy again.

Yes you are absolutely right. Trading sites will have no as such security as many of them don’t have any valid certificates or being official. So scams are there in market, as you said, bitfinex have fraud a huge number of traders. So keep your bitcoins in offline wallet for all type of security.

For long term, you can buy bitcoin in any price and hold in offline wallet and you don't have planning to sell in short term. With that amount, i think you can split the btc you bought into 2-3 part. For example, you buy 3 btc, you can split 1.5 btc and hold in your private wallet and only use 1.5 btc for trading.

The amount you can split is depend on you, how much you want to use for trading. If you learn more about trading including learning about how to analyze the market, then i am sure you can make profit.

I could say that during this dropping price like now if you get in now probably it is safe to HODL.
I expect that BTC is rising higher later
Be ready

Yes, probably you are right. But I think for investing for a longer term and that too safely, needs you to be a good player. You first need to make smaller investments and see the way things happen. When you think yourself good enough to proceed for a long term investment, only then go for it.

i think that while investing money for long term i think that there is no risk of losing money, because in long term we are expecting that the price of bitcoin will even cover 10K therefore i think if you are going for long term investment then you do not need for such a good experience but you only need to invest a good amount of money so as that after long time you can get a good profit.

Indeed the best way of making huge profits with bitcoins is to keep them in wallets for long period. You can easily secure your wallets buy changing their password regularly and keep a back up of passwords.

Besides it is also recommended not to keep all coins in the same wallet. It reduces the risk of going bankrupt if your wallet gets hacked.

Even if you have good knowledge on something that you're investing on, there will always be risks. There isn't any 100% way to safely invest in anything by you definitely can lower the chances of a negative outcome by preparing for your investments

Coin base and you can use paper wallet for keeping your bitcoin safe for long term

Long-term investment ? This would probably be suitable for buying btc and reserve it waiting for the price to go up to make a profit. You just have to choose the right time to buy and sell btc then it will give you a profit. This is relatively safe since btc is a relatively stable currency and the main currency in the crypto system, trusted by everyone.

I think if you want to invest there are 2 ways , first buy some bitcoin and save for the next few years or buy tools to mine bitcoin like ant miner (example)

I don't think that there is a clear way for you to invest in bitcoin safely for long term because long term investing in bitcoin is good but there is no valid way to make safe investment because it is still up to the person on how he will manage to make his investment safer than the others.

yes, it depends on the person on it, everything depends on the person who are using it or the person who are investing, when you join the world of trading you are be able to accept the risk in everything, learn to accept that not all the time you will earn a lot sometimes you will lose also it is a matter or lose and win so be careful.

Trading was never a safe game. None is. If someone is aware of this world, he also knows that it involves a lot of risk and if someone is planning to become a trader, he better keep this thing in his mind beforehand. Also, it is like Risk=Rich. So there is no safe way but the danger can always be decreased.

I suggest you invest with money you are not scared of losing and just leave the investment to grow over time, you would be shocked at the result if you try investing this way. Make sure its money you’re not scared of losing.

In today's era. It's hard to keep bitcoins in 3rd Party wallets because everyone knows bitcoins. it's worth the interest to actually accumulate so that's what they will do. Even steal. Many of the events have taken place like losing millions of users' funds into a Wallet. So it's hard to really trust. I have a good idea to help you and it's hardware wallets or USB Type wallet here to move your bitcoins and put them on a USB. This is the Legder wallet, Trezor wallet you can put your bitcoins there and no one can move it.

There's always a risk , but you can minimize it if you have good analysis skill,
Make an accurate prediction and take a little profit could be your choice ,
Buy bitcoin step by step in every single bullish situation ,
How to know it was bearish or bullish , it's back to your ability make a prediction based on your own analysis and that is the real key to get a low risk but still profitable.

You are right. I will suggest you to go with small investment in the start. Invest only a portion of your income in Bitcoin at the beginning. After sometime, keep on adding a little more amount and then you will find out that the results are more than satisfactory and that you have earned a lot of profit than you ever expected.

There is no such thing as safe investment, you can only regard to it as a calculated risk investment, in which you have done a lot of research on the investment and you have been able to note that it would be profitable for you.

There is no such thing as safe investment, you can only regard to it as a calculated risk investment, in which you have done a lot of research on the investment and you have been able to note that it would be profitable for you.

I agree. You can only do so much and you're still not going to have 100% assurance of having a safe investment. Though of course your chances will considerably be better than those blindly investing on random icos without doing proper preparation but still, bottom line is there still are risks

Bitcoin is starting to get down to my target area.  Currently at $4180. Down from $4969.  Thats down 16% in less than 2 days.
Ethereum is now down from $391 to current $295. Thats down 25% in less than 2 days.

I love this market
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OP here

Bitcoin has now gone as low as $2981. It will definitely get to my target of around the $2500 area.
Ethereum has now gone as low as $201. It will get to $100 without even working up a sweat.

Bitcoin at $2500 is a good place to buy.
Ethereum is a good buy at $100

You can invest safely in bitcoins for long term buy making correct use of your analytical skills and market intellect. People usually feel insecure because bitcoin doesn’t exist physically and who will be responsible for their investments at the time of crisis, I think they will surely get answers to these when bitcoin will be legalized in the world.

You can buy your BTC on Coinbase using dollars and if you want to feel more secure, get a wallet so you can keep it there, that way you keep it out of an exchange. In my opinion a wallet is always safer, if you are not looking for trading or so. Good luck with it :)

It is tyre that we should always consider that risk is always there when it comes to investments. So for us to evade the effect of the risk out there in all form or investments we shod always consider an option for us to learn more and ti adapt to the changes in terms of the development it cod take as a form of transaction with used of Bitcoin or in terms of tradings, investments or any type of transaction.

can you include links about fork? this could be good info for bitcoin players to buy first because surely the price will rise after fork.

That's what we are hopefully that bitcoin will be legalized in all countries, if that will be
happen then I am sure will be many people who will invest into the bitcoin.

Doesn't coinbase always save bitcoin as USD equivalent? If bitcoin price rises then the USD value does not rise there. Is it incorrect?

Diplomatic answer buddy. You have to mention which best option according to your view. There are many people investing on various platforms in bitcoin such as trading, mining, gambling, doubling and so on.
Now after Japan, India made bitcoin legal to use it everywhere in their country. I would prefer trading because we can utilize the time when value dumps and climb to peak when reached to more value later on that.

you can try trading lending that is in poloniex, there you like invest do not have to trading we just invest there and we get profit every day.

if you want to get more income from bitcoin you must be away from this word safely  Because risk mean money

if I became you I already invested 70% of my riches for bitcoin, by the way I bought bitcoin and left it up for several years to come.

Avoid storing in an exchange unless you use the money for trading. If you have the private key then it is more secure. cold storage is more better, and not always connecting to the network is another - prevent from outside individual from trying to even hack your Bitcoin. Trezor, a Bitcoin physical wallet is also another point for security

https://trezor.io/

Before you invest your money, you should know the risky of the bitcoin investment. You must have a knowledge to the progress of the bitcoin. You can earn more money if you are knowledgeable person.

you can use trezor but safest way is paper wallet. but you have to be careful.

Just when you learn it thru experience we can get the ideas and skills we needed to earn in trading , mostly when we get too excited in selling it we tend to see more opportunities the other time so better plan it accordingly.

trezor can be a good solution to safe our bitcoin for a long term but we need to put it on the safe place too. but if you want to save in software like bitcoin core or even in jaxx and mycelium, this could be a good too but always remember to keep the wallet for yourself and don't telling to other people about your bitcoin amount especially your private keys..

That’s great, it means that you will be earning a lot of money in future from your today investments. Well I too have made around 60% investments in bitcoins and around 40% in physical assets of my total savings to make my family’s future safe and sound. This will be benefiting me a lot.

Today price of bitcoin is 3800 dollars so if you want to buy bitcoin now you can do itm but invest only you can afford to lose . Bitcoin is good for longterm and for sure if you hold bitcoin for few years you can earn a lot of profit because maybe next month the price become 5k dollars and it will continue to increase again. You can store your bitcoin in coinbase they  base on Us dolllars and this wallet is very safe.

Coinbase has major security issues. Trading is difficult enough. Hackers stealing your Bitcoins on a daily basis is too much for me.

I have just finished reading the article in Fortune.com (Hacking Coinbase: The Great Bitcoin Bank Robbery)
http://fortune.com/2017/08/22/bitcoin-coinbase-hack/

Coinbase was successfully hacked 30 times in a month. That is an average of once a day.

i have been Googling Coinbase.  They are having appalling reviews about not paying customers, blocking access to their accounts, and not responding at all to emails or phone calls etc.

Some customers are saying that any big deposits are blocked from withdrawals and then the customers are blocked from accessing their accounts.

No Coinbase for me

 

What the hell I supposed that is the last exchange that will be hacked, I'm afraid if coins.ph also will be a victim of that hackers or they will turn a hackers themselves, at any rate this will not solve the issue I think it is better to just save your BTC for a really long term like holding 10BTC in 14 years and exchange it someday when the exchange is righteous.

Well you may be right. But I think this will not be an easy job to do. For me, buying the Bitcoins and keeping them in my wallet is the best way to hold the coins for the long term. I think your coins will be safe and sound in your own wallet. Just wait for the right time and sell your Bitcoins to have desired amount of profit.

I store my bitcoins in online wallet (coins.ph). All of my bitcoins are in there and I know that it is safe because it is very trusted wallets. I can easily cash out and convet my bitcoins to fiat money because of that wallet.

How to lose $8k worth of bitcoin in 15 minutes with Verizon and Coinbase.com

https://medium.com/@CodyBrown/how-to-lose-8k-worth-of-bitcoin-in-15-minutes-with-verizon-and-coinbase-com-ba75fb8d0bac

Some recent reviews of Coinbase. These reviews are so bad.

https://au.trustpilot.com/review/coinbase.com