Bitcoin Forum

Hi all, i've been studying Cryptocurrencies a while now and want to start buying but am very nervous about using the right vendor and storage. Can anyone advise please?

If you want to buy with your local country/bank, try https://localbitcoins.com . Another service that i know is coinbase https://www.coinbase.com and xapo https://xapo.com and other, but for me the best site to buy bitcoin is local bitcoin.

For store it, you can use electrum https://electrum.org because its easy to use, they support android and iOS too. If you want web wallet, then try blockchain, they have phone application too for make easier to use. But i dont recomend you use web wallet to store a lot coin.

Thanks for the advice Cissrawk. Do you buy and sell Cryptos yourself? What do you actually use?

Yes, but im use local exchanger on my country. So i can easy withdraw to my local bank account. But in the past, i use local bitcoin to buy and sell my bitcoin.

You have a very good question.
I use coinbase.com  . They are one of the largest and longest running exchanges at this time.
About as safe as they come.
It will hold bitcoin. etherium, and litcoin. They will be bringing on bicoin cash on October 1st of 2018.
Be very careful with your Key when you get it and print,copy.file.....in a safe place. One will be a group of random words in case your computer goes down and your random characters, ( that will be a key also) the you will have an address with random characters too. I will state " Address" so you will know the difference from your key and address.

I have been doing this for about 9 months. What an education!
You may want to look into a trazer wallet too. I just bought one. Don't get it from Ebay. not a good idea. It is like a flash drive on steroids. very secure.
Nuff info for now?

The guy who just answered your questions previously is very good too. I am going to be looking into some of the things he mentioned.  Wish you luck..Oh Yes, also triple check your address when you send coin. You will want to check to make sure it is the right one to the right person. You can lose coin very fast being in a hurry.

i recommed you blockchain.info as wallet and for getting bitcoins you can use localbitcoins.com to get some .

Buy at https://localbitcoins.com/ where you can buy bitcoins using your bank , remittances near your place. I suggest you to study first the cryptocurrency before you make a move. In bitcoin wallet you can use blockchain wallet. Wallet has private key so keep it in a safe place to avoid getting hacked

If you relay want to buy crypto currency 1st try to buy from coinbase if its allowed in your country,if not best is localbitcoin.
And for storage exodus is a verry good wallet.But never store or trade bitcoin in poloniex they steal your moeny and lock your accounts .Please check google and see how many people lost their money in poloniex and they never care about their customer.So my best guess is go with bitterx ,bitfinex of cyptopia they have very good support and they respond very quick.

Some great advice, thanks guys. I had landed on coinbase.com from what i had read already but i don't like the fact they store the coin. Is there a way to export the coin from Coinbase once bought. I'm looking at the hardware wallet, the "Ledger Nano s" as it supports the 2 coins that i have my eye on? I'm only buying for investment so i wont need to spend the coins as such.

I am not a tech savy guy, just wanted to congratulate you on talking the big step..

Also, you might want to look up how to make yourself a "paper wallet". If you intend to invest instead of trade, I have been told this is a good option.

I've looked into the paper wallet scenario but think i'll stick to a hardware wallet (when the manufacturer has stock) Unless anyone knows of a legitimate seller for the "Ledger Nano S" ??

you better buy from the official site for safety https://www.ledgerwallet.com . If you want to buy in another people, try on goods section https://bitcointalk.org/index.php?board=51.0 . Remember if you want to trade/buy, always use escrow for safety.

You should buy from Localbitcoins.com website and you should just use the exchanges to have funds in. Poloniex or Bittrex are good USA based exchanges, they will provide you BTC address for free

As you are newbie, this is recommended that you do not mess with local wallets and private keys, instead just make account on exchanges

You are a noob. Don't buy just yet. Never be so eager. Scammers are also lurking and looking for eager people like you. Start from the beginning. Study. Start with faucets. Get Bitcoins from faucets or maybe start with Dogecoin. Experience receiving micro transactions first. Don't buy. Earn Bitcoins. Create a routine like this to gain more confidence and experience. Never buy.

Thanks for the advice Monkey - I guess your are experienced, I have been studying for around 3 months now. Please explain how to "Earn Bitcoins"? I have looked into mining via online mining contracts, is this what you mean?

You have a fixation of Don't buy crap that doesn't even make sense. Is it your way to lower the price?  ???

Starting from faucets is one of the biggest mistakes of newbies as it is plainly a waste of time furthermore as the bitcoin's price rises their reward decreases making your daily income dust. If people have the money to buy then it is better as earning takes a lot of time (varies on people but it is most of the time) but the current price might not stay long as well as its better to have as many as you can when the pump comes.

And I'm avoiding micro transactions as much as possible as it just creates unnecessary inputs making my transaction/s size bigger as well as its miner fees no to mention it has more chances of getting dust outputs. As long as you understand its fundamental parts you're good to go after that you can take your time studying more in fact there are many people who still don't undertand the basics of bitcoin 

I highly doubt he is lool. Stay away from cloud mining, most of them are scams. You should read on the internet how many people have been scammed.

Thanks Mr Potato Chips, i'm pretty ready to push the button tbh. I really want to know the general consensus for where to buy and how to store. I think i'm nearly there, a little more research i think

I agree that it's good that you will use your local wallet.And I also agree that as a newbie,it's very risky to trade coins. I suggest that you join in bounty campaigns to earn coins at make the bounty as capital for trading. If you are only patient and deligent in promoting the campaign you can really earn in different means.

Since you are new to crypto, you are better off with smaller investment options, with lower risks. In that vein, ICOs is the way to go. Cryptokami ico comes to mind

Hi) is better to start to be engaged to you in campaigns of generosity that you had experience and the general concept about transactions... And that that could understand where swindlers) because them now much is better((

Hi, if you are wanting to buy Bitcoin or any altcoin I would recommend using Paxful (https://paxful.com/). You can easily buy Bitcoin by hovering over the "Buy Bitcoin" button.

https://i.imgur.com/DsC2bN6.png

Once redirected just type in the amount of Bitcoin you want to buy, the payment method, and the currency.

https://i.imgur.com/VMUPerk.png

If you are looking for a place to store your Bitcoin I would personally recommend Electrum (https://electrum.org/#home). I have used the Electrum Wallet for a little over a year now and have had 0 issues other than the recent exploit (https://motherboard.vice.com/en_us/article/ev55na/electrum-bitcoin-wallets-were-vulnerable-to-hackers-for-two-years-json-rpc) that was found and patched.

Security Measures with Electrum:

• Private key encryption
• Cold storage
• 2FA

If you are wanting an online wallet, I would recommend using Coinbase (https://www.coinbase.com/signup) or Blockchain (https://blockchain.info/wallet/#/signup). Both are online wallets that have multiple security measures ranging from 2FA to passphrases to phone verification, etc.

I think ledger nano s is best way to storage coins. :)

Dude get into coinmarketcap.com. List out the coins you wish to buy. Get into the chart and growth trend of each coins. Study and analyze their current move with their projects. Each coin line would have its own details and an option to buy the same coin. I find this site to be totally perfect and move forward and invest. You can get to know more and this would help you to interpret the current data of each coin. Each coin's data is detailed from the day each one was launched.

I'm happy about that you got an education on crypto before you going to invest in it.

These are the sites that you can buy Bitcoins or Etherum.

https://www.coinmama.com/

https://cex.io/

These are some security wallets.

KeepKey – Hardware Wallet.
Nano Ledger S – Hardware Wallet.
Trezor – Hardware Wallet.
Coinbase – Hot Wallet.
MyEtherWallet – Paper Wallet.
Jaxx — Software Wallet.
Electrum – Software Wallet.