Bitcoin Forum

Hi All,
         I am new to crypto investing and want to purchase my first Bitcoin but I am totally confused as to which platform I should use to make my purchase, currently, I have been using etoro and have in my portfolio several crypto's.  But I am not sure if this is the best platform for buying 1 bitcoin as it seems to lack good customer care.

1) If you were to recommend a platform which one and why.
2) If I was to stake my 1 bit coin what would I get in return as a passive income.
3) Can you recommend a good youtube to watch for advice on investing.

Regards

1. It depends where you're from, but if you're from the EU, UK, or US I'd recommend going with Coinbase. It's one of the oldest and most reputable platforms out there. You should still make sure to withdraw your funds to a non-custodial wallet afterward (A trezor or a Ledger device since you're buying a large amount).
2. Not much, and I wouldn't recommend doing it either. You're basically giving full control over your funds when you do that.
3. Not really for investing, but if you want to educate yourself about trading and the crypto world in general: CoinBureau and Benjamin Cowen.

You can try one of these platforms ,they are good for bitcoin exchange, (crypto.com,binance, or coinbase,) you can browse and make enquiry about them  before you invest,these 3 are well known and I don't think they can easily crashed.

1) It depends on your preference. If you are not to privacy cautious, you can purchase on a reputable centralized exchange like coinbase or binance. Buying up to one BTC would trigger some KYC requirement and could lead to your details being sent to the authorities.
You have an alternative to buy on peer-to-peer platforms like hodlhodl or bisq. They are more private than centralized exchanges, but have less liquidity.

2) You can stake it, but it is not worth the risk involved.

How is everyone?
It would be good to say the rules of this forum.
And I'm new here. So I don't know what to do.
Since this forum is for newcomers, I'd be happy to explain everything to you.

I'll leave the others to answer other questions, but this, you should know that holding bitcoin is not just to make an income, just so you know, lots of people becomes poor in one night holding bitcoin because of poor of decision making and understanding how investing in bitcoin works. It's the same on staking coins, but regarding the staking in etoro they dont have staking for bitcoin, based on their staking page^[1], they only supports ADA and TRX

[1] https://www.etoro.com/crypto/staking/

I think the comments above are generally pointed out the best thing to do and what to choose, Anyway most of the exchange that was mentioned above is a centralized one, But since you are already using Etoro it has no difference in terms of privacy because it also required KYC if you buy in a big amount that is already above the limit, the only difference is Etoro is a socialized trading platform above them all, Im also using a Binance, FTX so I can say that they are the trusted one. About staking Bitcoin I don't think it's good for a passive income because it's already high in price that's why I don't know if it was good for staking I have only tried some altcoin and it's not good in terms of return.

Using Peer-to-Peer (P2P) exchanges such as [1] https://bisq.network/, [2] https://hodlhodl.com/, and [3] https://localcryptos.com/ are the most common suggestions. However, the issue with these exchanges is that the volume is low, making it difficult to find a seller of a whopping single bitcoin.

Furthermore, if you are new to these platforms, you may find it difficult to buy from other people as your account has no previous trading history especially that the amount you are buying can raise suspicion to other established p2p traders. Also, the country in which you reside is another factor to consider when purchasing bitcoin; the best solution I can think of is for you to look for an exchange in your country.

Well? I think it defeats the purpose of bitcoin, no? I'd rather keep it in my non-custodial wallet than give other people the authority to use it.

Hi All,

       I would just like to say thank you for all the replies to my post. I have just set up an account with coinbase and think it's probably sensible to wait until after the current situation with Russia/Ukraine is solved before taking the plunge. The funds that I intend on using are from an old company pension pot that when matured will pay out £40 per month, ???  so I decided to cash it in and reinvest it in bitcoin, It will probably not be touched for another 7 years.


Regards 

You can try one of these platforms, they are good for bitcoin
1.Binance(KYC Must)
2.exchange
3.crypto.com
4.coinbase
5. okex
6. kraken exchange
7. houbi exchange
8. FXS exchange
9. bitmert
10. Lbank
11. bitfiniex
12. sex.io
 you can browse and search for them before you invest, these 3 are well known and I don't think they are easily compromised. Maybe.

We have so many exchanges you can purchase cryptocurrencies as much as you wants to purchase, but it determine the one that can process your transaction immediately with low fees, actually all have equivalent fees


So if i may ask for recommendations from exchanges were you can purchase coins, i will like you to select from the list below..but among all I prefer binance mostly. But remember that all required KYC

(1) Binance
(2) kucoin
(3) Coinbase
(4) okex
(5) kraken exchange
(6) houbi exchange
(7) FXS exchange
(8) bitmert
(9) Lbank
(10) bitfiniex
(11) sex.io

Most websites that allow you to "stake" BTC would first need you to convert it into a Wrapped token which is basically ERC-20 version of bitcoin governed by a set of actors that decided to be custodians of this transfer. Once you have this renBTC or wBTC, you can then use platforms like AAVE, COMP etc to provide it to their lending pool. The returns would really not be a lot though. Most of these sites had rewards for early users when the liquidity was low.

Nowadays there is enough liquidity and to have a good return, you will have to go into riskier assets and explore newer platforms. There are a ton of them and it is hard to discern between scams and good ones. Better to keep part of that BTC safe as a SoV. The rest can be used for the risky plays after you do your own research. For starters, I can recommend you to check a product known as "Barnbridge Smart Alpha".

Coinbase is already a great place to make Bitcoin purchases. If you intend to buy in large quantities and will be stored for a long time I suggest moving or storing bitcoins in a bitcoin cold wallet.
I will provide a link where you can choose the wallet to store your Bitcoins: https://bitcointalk.org/index.php?topic=1631151.0

It is important to think hard about cashing in your retirement pension (0 risk, but limited no growth) to buy BTC instead (massive risk, decent LONG TERM growth potential).

Your investment  in BTC is always susceptible to wild swings. I have lost 90% of my investment, then saw those dregs rebound 2,000%, only to repeatedly rise and fall up to 50% in either direction, all over the last 4 years or so.

If that pension is your only source of income for your retirement, you should speak to a professional  adviser. From your posts it's clear that your knowledge  of cryptocurrency is very limited, and you also are susceptible  to being scammed.

Visit https://www.DANTeachesCrypto.com/ to learn the basics for free. And that's just beginner level.

You can use Binance instead of Etoro because there are more options in staking from that exchange though I would suggest to try some new project to stake your funds as Binance is offering big percent of income(With assurance of safeties because this is the biggest exchange in our days now)  though most of that are not Bitcoin staking but other altcoins.
Yeah this is the problem from Binance now as the requirement for KYC verification is indeed.

now like in the past that there is a specific amount needed for kyc providing.

It is impossible to predict how a Russia-Ukraine conflict might affect global markets. It is not unusual for investors to rush to bonds during major risk events, as they usually view bonds as safest assets, and this time may be no different. Gold is also seen as a refuge in times of conflict or economic strife. However, as with the Russia-Georgia war in 2008, the Ukrainian crisis should also have a negative impact on commodities like oil, as the country is a major supplier of crude and natural gas to Europe. This could negatively impact the prices of many other commodities, including food and other necessities. As a result, it could negatively impact the crypto market, since when an economy is in crisis, people give up the riskiest investments and focus on the most basic needs. Nevertheless, I personally think a war will never take place, since, in such a scenario, both sides would be at a loss.

I guess both of you meant Cex.io. I never heard of that supposed "exchange" mentioned above. For correctness, I looked it up on exchange sites and I ain't surprised anyway that I didn't see it.

OP, your best check should be on the first 10 exchanges as listed on the CMC or Coingecko site. Make your pick from them. But if you want my recommendation, go for Binance exchange. It's the most trusted and most assumed to be the most honest, for now.

lol! Now that you've pointed that out, of course I had to look up that exchange as well. I'm a little disappointed that the website doesn't work.  ;)

+Due to the fact that I don't know which country you are from I would say use local Bitcoin, then you can navigate it yourself.
+ I don't know anything about staking and I am happy I don't so I won't advice on what I don't do
+ There are several great YouTubers out there you can watch for anything crypto-currency related but j won't give them an advert, so it's your research to make and also be careful about the comments section it has really caused many to get scammed.

Etoro is not a good platform to buy crypto. What's more, I don't think you can withdraw a cryptocurrency from their platform at all, all you can do is trade.


Depending on where you live, you can use one of the local exchanges in your country. The second solution is some of the globally popular exchanges as other members have already mentioned. Furthermore, you can probably find a local seller and buy crypto in person if you do not want to go through KYC procedures.

not to apply just a suggestion
best platform in my opinion coinbase, binance, FTX are the current top exchanges that you can rely on for crypto right now.
I think you don't need advice for youtube about bitcoin because the explanation is the same

I do not wonder anymore why you pick etoro because etoro is popular. There are etoro before cryptos came out afaik and now that cryptos are here they also join it. Can say it was a safe platform to buy and store btc but cant believe that etor does not have a good costumer support but what do you exactly mean by lack of good costumer support? Did they do not respond to you easily or they respond but maybe you just do not like what you see on their reply?

Sometimes it can also be your fault and you cant accept it. They are trusted safe but I think they do not allow you to hold your own private keys? This is important when holding for too long. I do not think they are exchanges that allows that except from a standalone wallet.

There are many platforms that can be used and some are good ones like Binance or Coinbase and I usually use them. Learning to invest can be from YouTube, Telegram or other websites, but we have to be more careful with the various modes of fraud there. choose a channel or link that is trusted and worthy to be followed. YouTube is indeed a good investment in learning media but over time you will be able to further upgrade your skills and knowledge with the experience you have. So all of that is a process and also requires patience.

1. It is a necessity to know if your country is not affected or restricted in the use of crypto currencies. Also, it depends on the country you are from to recommend a good exchange for you, as it will save you some stress and other factors involved. Making personal choice, Coinbase, Binanceas two major exchange widely used worldwide. Gate, Kucoin etc. These platforms has a very good customer service ready to respond to your queries quickly.
2. Staking is good, but are you ready to risk such an amount? Once you stake your coin, you give full control to the exchange. As an investor, placing it on a long run, and creating a little room for diversification, by purchasing other coins or a little Bitcoin (not as high as 1BTC) for staking, if you must stake.
3. When it comes to investing, taking out your own time to make personal research is the best tool to use, cause everyone will give you reasons and different ideas on what to and what not to. If it is for education, there are tons of them. Try to learn how to compare notes and ideas too.

Do you have a experience of using decentralized and centralized exchanges. I will prefer you to learn the working of both exchanges. Their working is very different. On decentralized exchange. You need a metamask wallet to connect your wallet with decentralized exchange. Decentralized exchange is Zapper.fi
And centralized best exchanges are binance and ftx exchange. These are the world best crypto currency exchanges. They provide us all features for trading. I hope you liked these both exchanges. There service is very good and their support team is very responsive.
You can check their videos on youtube that how to create an account on crypto currency exchanges.

because it is extremely difficult to trade or invest without knowledge these days because you will end up losing all of your money if you don't know what you're doing. You shouldn't enter the market without any prior knowledge or experience because you will end up losing money because you will lack established knowledge and strategy in the field. The best advice for a newbie is to read and read some more, then test and test some more. That is the best thing to do.

Exactly,thats why we need to be careful in making our decision.It is important for us to understand how to go about it.And seeking help of other sucessful investor is one of the best way in order for us to be succeed in doing such thing.Investing in crypto in general is a good business if you are on the right path and with the right platform.

For someone who is a newbie, I think it depends on what exactly they want to do. If it is someone who just wants to buy bitcoin and keep it in a wallet while they continue to hold for a long term, then there wouldn’t be any difficulties in doing that because exchanges like coinbase.com are very easy to make use of.

It is not something that really requires intense study or having prior experienced before you have to do it. These exchanges, especially the centralized ones, like I have mentioned – coinbase.com, are very easy to make use of. And from what I have understood, the main purpose for the op  buying bitcoin is just to invest and hold for as long as he can. So that wouldn’t be difficult, will it?

Binance
FTX
Kucoin

They're the good ones IMO. But I'm using binance among them all since it's easier for me and I've been doing most of my trades there.

It's not really staking but you're lending it to the platform like an interest account like in nexo, binance and other platforms. They usually have
a fix calculation for the interest rate that you'll earn yearly.

But I don't advise to stake in any of them because, if it's not your keys, not your coins.

It's better to just keep up with the discussion in here rather than watching any video about investing in Youtube especially investing in crypto. They'll just shill you with the projects that they have been holding.

Coinbase.com is a very popular cryptocurrency exchange , and if you would like to buy bitcoin then I’m going to suggest that you make use of this exchange because it is a centralized exchange , and is always best for people who are newbies and still getting to know how cryptocurrency trading works.

Although the exchange doesn’t work in every country, so you would have to check it out and know whether it works in your country or not. If it does, then you can register an account and start buying and selling with it. Another exchange that I’m also going to recommend to you is binance.com, It is a very popular exchange in the market. These two are what you should look into for now since you’re still.

As for staking, it is not every cryptocurrency that you can stake (you don’t stake BTC). There are particular coins that you can stake in the market (those that uses PoS) and the profit you will get from it goes from around 4% to as high as 20% or even more than that. So, you should do your research and look for coins that you can stake and then how much you are able to get from them. Some coins you can stake are BNB, ALGO, Tezos, and DOT.

Well, As a beginner I suggest you to use coinbase.com because it is very convenient and easy to use. It supplies for buying all major cryptocurrencies like (btc,etherium and etc)It is also good for storing cryptocurrencies..Coinbase is actually one of the first cryptocurrency exchanges in the world and it is the most trusted trading platform :)

As for me I prefer

Binance
Roqqu

Because they are easy to understand, more safer and they supply many coins you can think of especially Binance.

You can try
Binance
Roqqu
Coinbase
Those are the three platform I use and the reason why I recommend it is because it easy to understand and are more safer.

1. You can check the platforms in this coin market cap list. At least, you can check and evaluate which is best for you depending on your needs, living, and also availability. Number 1 is the top platform based on the CMC list and so on others.
https://coinmarketcap.com/rankings/exchanges/
But once more, analyze which is available to your country because sometimes, some platforms are not available in your country. Never use the non-reputable exchanges, new exchanges, or exchanges with more negative reviews.

It will depend on what platform you are investing in. Because you are going to invest that 1 BTC that is considered a big amount, you must stake it on the trusted platform. Never only be interested in high rewards, because sometimes, there are scam exchanges or platforms that offer staking reward with high return.

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Newbies get devastated because of not knowing the rules of forum, i have checked here the rules is open to new one and old people but some fellow do not like to check and know the rules, i once seen people in bounty group alway cheating is because some do not know the what is law and also never close to forum laws

You can say the rules by yourself and is good according to you to say the rules, i will help you to drop the forum rules and shall go through the rules to know things you will forbid and boundaries between crime commitment that leads to problem and boundaries that leads to stay. Read here for the rules https://bitcointalk.org/index.php?topic=703657.0]Unofficial

If you want to use safe exchange for buying bitcoin then i think Binance will be the best option.But you have to perform Kyc for that.I think its a only setback to use Binance.But overall experience and you can store your bitcoin in Binance because they have tight security and its one of the best exchange.

And i am following several crypto youtuber for learning but never blindly trust them.Always do your research and for educational reason you can follow a YouTuber named “Coin bureau”.