Bitcoin Forum

Hello,

I am a new member and investing in bitcoins anyone got tips?

Welcome!
Yes I have some tips:
- Avoid investing in altcoins, mining hardware and Bitcoin securities unless you really know what you are doing. Most of those are bad deals.
- Best start by buying a small amount of Bitcoins first to learn how to use and securely store them, before investing a lot

Wait for a drop, buy as much as you can afford, wait.... wait....wait... profit? ;)

This is speculation.

Everything is a speculation.. nobody knows...
The only thing we for sure know is that mining is not profitable unless you spends a huge amount of cash on hardware.

Ya sure, but this "it will drop soon" is nothing more than a hunch. Could happen or not.
And like you said, we can quite safely say that buying mining equipment will not be profitable atm.
That is still speculation, but way more profound.

Learn as much as you can before investing.
If you keep bitcoins diversify the amount of coins between different wallets.
First thing you need to thing about is if you will use the qt-client or an online wallet on a website.
If you keep your bitcoins in an online site wallet you are transferring trust onto the adminstrator of that website.
There were sites hacked that lost all the coins.
Luckily there is a lot of information on this website about securing your wallet.
I personally also learned a lot from this wiki: https://en.bitcoin.it/wiki/Main_Page

Ik mis Check Point ;)

Make sure your computer is clean (no malware), stolen Bitcoins are most likely lost. Test with small amounts first

welcome... Be careful with your wallets and protect well your bitcoins ;)

welcome. As much as you may not want to, try to learn as much about the technical side as you can, mostly around how to keep your stuff safe.

As a newbie as well, is there any good ways to obtain Bitcoins without investing much money?  I've been browsing several sites that offer free BTCs from faucets, etc., but wondering what majority of you have been doing.  Investing actual money or accumulating other ways.

In fact mining is not profitable even if you spends a huge amount of cash on hardware.


But look for deals on bitmit/ebay,  sometimes (but rarery) there is good deal of some mining unit when someone needs money quick

Welcome to Bitcointalk.

As far as tips go...

Do your research before investing. Watch the markets for a bit and see how Bitcoin behaves. Buy a little Bitcoin first just to get used to sending it to other addresses. Make sure you know how to work, secure, and backup your own wallet before you invest significantly. Once you've got a hold on using/working with Bitcoin, then go for a larger investment if you feel it to be appropriate.

i agree with this completely, know what you are investing in. don't just dump your money because you hear you can make some money... if you don't look into securing your bitcoins, you may not like the result