Bitcoin Forum

Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?

If you have amounts over 1k $ , i suggest you to spend 50$ for a cold storage. If you have less, you could trust online wallet as blockchain.info , using 2FA and SMS aut for stay safe.
About manage,i don't understend what do you mean, but  first of all never send your coin to other ppl\ company that promise you unrealizable profit. Then , if you are interested, you could follow my signature and read more about my services.

Hello, thanks for your reply! what is a cold storage, btw?

A cold storage is way to store bitcoins offline.It can be a paper wallet or a hardware wallet.
If you want to start trading cryptocurrencies the first option is Coinbase.It`s the most user friendly online wallet and exchange platform,but you have to upload and verify your ID.
I don`t mind keeping more than 1000 USD in an online wallet,but the newbies should be more careful.

Thanks for your reply! Very informative!

this is a popular question to others btw if u want to buy btc or eth much preffered to u poloniex because this is a cold wallet much preffered ur account has been verrified and put the 2fa for more securities.. why u put the exchanger than paper wallet .. because if u put funds in exchanger anytime u can pull out ur funds in one transaction or u can gain any time btc or eth if u put ur funds in paper wallet this is advisable cause you hold the private key do not explore ur privatekey for more secured ur funds.... if longterm put ur funds in paperwallet..

I think the best way to use your funds in order to buy bitcoin, is to go to coinbase and make a purchase there. Their fees are a bit high, but it allows you to directly buy crypto with fiat, and you don't need to first buy tether for example. If you can verify you account on Gdax, that is also owned by coinbase, so by creating an account on coinbase, you already have an account at Gdax, you can avoid fees altogether, both for purchasing crypto, or for trading it.

If you want to just trade, you can stay there, or move some of your funds to bittrex, since it offers a lot of altcoins to trade. If you want to store crypto, then after you bough it, you should at least install a desktop wallet like electrum, and move your coins there. If you really want to keep your coins secure, then a hardware wallet like trezor or ledger is the best option.

Thank you for this info!

You have already started trading, but yo do not know where to store your bitcoins and eth's.


Security is the first thing that you need to think about before trading, and let me tell you that if you are going to put all your money on trading, or if you are going to be the whole day trading, the best thing that you can do is just move all your funds to your exchange.

Maybe it is not the best thing that you can do, but you will not spend more than five bucks everytime that you want to move your $ from there.

If you mean manage is to do trading. You should do something that provides a high security system such as vip (must do the account verification) every your transaction will be able to get information before thru text. Beside BTC or ETH, try altcoin occasionally.

Create an account in some trusted/old exchange sites, such like poloniex and bittrex would be a best idea for altcoin and bitcoin trading. Before deposit your money, make sure you have verified your account first or you can't withdraw your money due to failed their KYC process.

Great!
Thanks! 8)

Many thanks for your advice!

you are welcome
my advise read more before do any thing

If you want to exchange choose a trading platform: polo, bittrex, yobit .. you can keep eth and bitcoin on the exchange but you have to secure your account to avoid losing. Or you can use online wallet like coinbase or blockchain.

Exactly, my biggest fear is to have money stolen

there are a lot of way for you, to buy and store your money, for trading as well. For buyng the simpliest way is from coinbase but you have to pass through the KYC so it means at the end you will pay taxes, if you want to advoid it you can use localbitcoin and chose the "in person" solution, you will meet personally with the seller to close the transaction. To store your money the better and safest way is a ledger nano, then if you want to trade, my advice is Binance, is the best choise right now

If you have money to spare you can buy ledger nano s to store your Bitcoins but if you prefer online storage, you can go with Blockchian.info. managing your coins is easy since you mentioned that you are into trading so most likely your coins are stored in a trading platform like Poloniex or Bittrex. Storing coins there is not advisable if you have no plans yet of buying trading pairs but if you already have, I would worry more on how to earn more BTC than managing it. Selecting the right trading pair is more worrisome than managing it.

Aside what has been mentioned already, I will need you to read and learn more about how to keep the crypto coins that you will eventually buy and your wallet safe. You need to understand the importance of a recovery phrase, and also thee need to have 2FA enabled on online accounts as extra security measure.

For mining you can ask different kind of wallet to receive the bitcoin or altcoin means you are correct in your query to choose the wallet. For trading  you will get the default wallet in the trading site itself you have to use fhsg while you create the trade of any coins in the concern wallet. Sharing experience of trading and all will not work, you have to invest and check then you can understand it clearly.

Do you know the approximate tax amount?

Yes, I totally agree, that I must check everything by myself first! Just wanna be fully prepared! 8)

thanks for useful information!

To your mind, which pairs are currently the most trustworthy?

Entering into the crypto trading world is really something daring considering that it is unregulated therefore you might see huge gains and losses each day. Unlike the stock trading where a stock can get a buyer freeze or seller freeze if it is highly volatile there is no such freezing here we see coins increasing by 100% daily and a few falling by the same margin.

So answers to your questions. First of all if you are fiat holder get your fiat converted into BTC using coinbase or any other local exchange which allows you to do so. Its different for different currencies moreover USD deposits are widely acceptable across various exchanges too. If you are into daily trading I would recommend you to go with Bittrex. It has the most amount of coins listed with great versatility so you are always on trade. You can get easy withdrawals upto 1 BTC daily but do make sure you get some verifications done. Binance is a good exchange too considering they allow you to withdraw upto 2 BTC daily. Just make sure you are patient while doing trade and don't keep your high amount of funds on exchanges they are most prone to scams. Shift the funds to cold storage if you don't want to trade on them.

I would advise you to watch about 10 hours of videos on YouTube about Crypto, how trading works and how to keep it safe from malicious people.

Best thing you can do.

well, if you want to buy bitcoin you will need to first create bitcoin wallet from blockchain info which I believe is saferas compared to others and you can buy bitcoin as much as you can via the same some source, local bitcoin exchangers or coin base. And if you want to buy ethereum for investment purpose I will recommend Etherwallet which is more safer and equally accept most of the token.

Since you are new here I will advise you not to jump into bitcoin trading or investment without adequate knowledge on how cryptocurrency work and the time to buy and sell before you can make profit. I have been using https://blockchain.info for the past two years and I have never have any problems with the wallet and the services. You can also open a trading account with poloniex or hitbtc and get bitcoin and others altcoins wallet in one place from there.

Great, that it was helpful not only to me)

Thanks for your advice! Very worthy!

How about the fees in blockchain wallet bro. You will find the bitcoin payment fee is large than any wallet in blockchain. So first you learn learn which wallet is good to have the bitcoin is saved.
Investing on multiple crypto in exchange and wallet are different bro. To say frankly people invested on trading initially in crypto platform.

for ETH you can use myetherwallet wallet and dont forget to save jsonfile and private key because thats the only way  to open that wallet again. in  BTC there are many choices such as electrum , mycellium bitcore etc .

Yeap, I heard about that keys, and it's better to save them in some files on PC

Good advice! thanks!

Thanks, I've heard the same ideas about Etherwallet from others as the safest storage for ETH

Really, considering that the OP mentioned trading, it is really something daring. However, there is no point daring yourself when you do not have enough knowledge to always pull off a good trade. You will end up losing and failing woefully anyway and if you do not have the time to learn, then it is better to hold.

To the holding aspect and regarding the security you have mentioned, I am glad it is a good thing that you know how important the security of your asset is and i will advise you go for a cold storage like Ledger Nano instead if you are planning to hold for a long term. It comes with a little price, but considering the security of your funds, it is worth it.

there are a lot of way for you, to buy and store your money, for trading as well. For buyng the simpliest way is from coinbase but you have to pass through the KYC so it means at the end you will pay taxes, if you want to advoid it you can use localbitcoin and chose the "in person" solution, you will meet personally with the seller to close the transaction. To store your money the better and safest way is a ledger nano, then if you want to trade, my advice is Binance, is the best choise right now

Get it!
Thanks a lot!

Thanks, I've already started learning!

We will help you trade check our telegram channel for more details.
Profit Analysis 20-12-2017
#EMC2      3%
#LSK         16%
#NXT         5%. first call
#NXT         5%. second call
#FLDC       10%

Total profit = 39% 🤑🤑🤑🤑

Hope you guys are happy those who following me.

Telegram:- https://t.me/poloniexsignalsforyou
G-mail:- poloniexsignalsforyou@gmail.com
Twitter:- https://twitter.com/polosignals/
https://bitcointalk.org/index.php?topic=2510441.60

According to us If you use your funds better saved in the VIP, so you can buy bitcoin, and If you want to save crypto you should install a desktop wallet, and move your coin there, for us it is very safe.

Since you have enough funds to trade,  I'd suggest you create a blockchain wallet via blockchain.info. It's  the best wallet you can ever find. This is so due to the safety feature of the wallet.
Concerning trading,  I'd suggest you use Poloniex or Bittrex. I've been using them for a while now and they are very good  trading platform.

39% percent from what?

Thanks for your reply!
Yeap, I've decided to work with the most trustworthy resources!

Clear enough! Thanks!

For someone who is really going to be storing a lot, this should be the best form of storage as your assets are very safe and you have the full control over them. As long as you do not throw it away, then you are always going to be good with the security aspect. However, if you cannot afford this, I will advise a desktop wallet instead.

Be careful though as desktop wallets are as safe as your PC but at least, if you are careful enough with security of your PC, you will have full control of your funds. You can do some research on Jaxx and Exodus, but I so much prefer Exodus instead.

If you mean about purchasing ether or btc you will to create an account on some exchange like binance, bittrex, orderbook, mercatox and many of exchangers where you can purchase some eth to btc or btc to eth. But I will going to advice you to create your own wallet or account on binance you can buy eth there using btc.

For trading site i recommend bitfinex, kraken and livecoin. Don't use bittrex for now, there are many issues and they also lock so many accounts. To creat wallets you can try the simple one, blockchain.info for bitcoin and myetherwallet for your altcoins. Both are the best wallet and the safety is also good.

If someone is newbie, then I think we must not advice him for the trading, or atleast we can warn him to do the trading involving small quantity of the bitcoin, because if the beginner will lose something big, he will get dishearted and may leave this business, and in actual this will be the overall loss on all of the bitcoin family. No trading is also no recommended. Trade involving small business are the key to grow from newbie to a professional.

the first one I want to tell you that doing a trading activity that means you should be ready with all kinds of risks that you will face especially risk of loss due to trading activities that of course you will have a high enough level of risk so of course you should be ready with all sorts risk and it is a standard consequence. if you are a beginner and want to do a trading I think you should start with a number that is not too high because if you experience a loss it will not be too big. and about your question is about what the wallet should be in use should you use a local bitcoin wallet in your country this is like what I have used today is by using local bitcoin wallet that is in my country.

To create a wallet for BTC, Blockchain.info is the good one and there is have more security like connect with email, password pharekey, email verification when login,2-step verification and other. To learn it, you can learn from youtube or website tutorial do not feel enought with 1 or 2 tutorial. But you have compare some tutorials and practice it.

For ETH Wallet, i use myetherwallet.com.

After have wallet. You must join exchange like Bittrex, Bitstamp, etherdelta, bit-z or others. Exchange is the place for doing trade. Hope this helpfull for you.

Do you use stoploss and takeprofit and how often do you rate how much compared to current prices, how to manage capital

What are the reasons for block?

Are stoploss and takeprofit applications or websites?

Yeap, very useful! Thanks!

what is the maximum amount for trading for newbie?

you do not need a high price to make a profit for it because you just need to hold the bitcoin okay naman ethereum because the price rises so it's better to get it in trading because you do not you need to buy 1bitcoin okay 1ethereum because the strategy here is how much you can buy here and if they increase the price they convert it to usd so that it will not get off the price and make you big.

I would not even trust any online wallet when holding a huge amount of asset; I would rather use a light desktop wallet and preferably exodus instead since there is even an inbuilt exchange, multiple assets you can even decide to store as well as some good security while you hold the full power to your assets.

I have never been a good fan of decentralized wallet anyway, so unless you want to be making some quick transaction which can easily be done on a light desktop wallet, then blockchain is far from it for me.

If you have an extra computer, install clean linux os.
Download electrum. And follow construction. Youtube and this forum have so many guide for that.
But if you have a lot of budget ledger etc. hardware wallets can you safe.