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I bought at around the $10,000 mark a few months ago.
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So bitcoin is down $3,000 today and it seems to be getting worse. Do you think this will be like 2018 again when it went to $18,000 then tanked and went to as low as $5,000 in the next year or so? What would you do in a situation like this now or in the future?
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I'm curious when bitcoin miners solve those complex algoritms does that mean a new block is added to the block chain that confirms the transactions then that leads to a reward of bitcoin for the miner OR do miners both confirm the transactions on a blockchain or ready there AND solve the math algorithms to be rewarded with bitcoin?
How does it work out when a business wants to create its own digital coin? Does this mean they buy a data center and try to mine coins or what? I understand something like ethereum as it is for smart contracts but having problems understanding other altcoins.
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Do you intend buying bitcoin or just asking questions that Google can easily give you the answers for asking seek? Guess you're not new to the industry (based on your statement above) so why not just get those coins back on the low without making it a big deal or making much noise about them. Those that are truely interested in buying especially those with previous experience, will do that without putting much taught into doing that. Assuming you're interested and inquiring about perfect exchange to used in trading then it'll be understandable.
The two exchange you highlighted in your questions have quite decent fees, just used any of them and get the coins before the train leaves you behind although if I was ask to pick one, I'll recommend Binance as it's far superior to coinbase.
If Google can answer every question, why is this forum here a** hole? How am I making this a big deal, I'm trying to find the most effective way to purchase it and it seems like their is a thousand ways. |
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I am not into trading though but you can buy in a lot of ways. The list below are alternative exchange to buy bitcoins. So is the difference in P2P, you don't put a buy order and wait, you buy or sell crypto directly to one another? |
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The best exchange to use would depend on some factors, like your locality, your trying currency; fiat or some other cryptocurrency and also your stand on identity verification.
You can purchase through binance; they have a limit on withdrawals that can be made without KYC.
Localbitcoins is also a good medium to purchase.
I'm in the US. When you write KYC, are you referring to verification like the Google Authenticator app? Does it take a few days to deposit a couple thousand dollars or can an of these exchanges take deposits within a few minutes? |
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So I don't own bitcoin any more but want to get back in the game and make a purchase. What is the best exchange and do all them have fees for buying and selling each time? Binance seem to be popular but coinbase pro doesn't seem far behind.
What's the difference between a stop and limit order?
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So I have $4500 in bitcoin on coinbase pro and trying to sell when it gets to $4100 which is considered a stop order, correct? I put the stop price at $4100 which automatically fills in the limit price but not the "amount" box with btc. I try to place an order but it gives me an error then I click the max link, a btc amount is shown but the total at the bottom says "1,886.18 USD" with a fee of "$9.48?"
Can you please advise on how I correctly fulfill a stop order?
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My username and pw seem to be correct but its not accepting any 6 digit google authenticator code.
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Great, now its above $9,000 and I have to wait for my deposit to go through  |
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Sorry, although I'm intrigued by bitcoin and its potential, I'm frustrated because I'm having trouble understanding some of the stuff around it.
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Some of this stuff is more complicated than just Googling it, you idiot. |
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What is the best exchange and how do I make a buy order there?
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I had a bitcoin but withdrew like a month and half ago on coinbase to pay some college loans especially since the value kept dropping. Obviously not the case now, I have $4,000 in the bank, what can I do now to make the best of bitcoin or can you give me strategies as it starts rising again?
You have made the mistake and it’s very difficult to undo that mistake. I will not suggest you to go and buy bitcoin right now, as its going up and it’s not recommended to buy an upward going bitcoin. If you have 4k$ in bank then hold them in bank and wait for next bitcoin dip. How about just spending half of the 4k like others have suggested? How about if it doesn't dip again for a long time or ever??? |
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Okay, I want to invest half of the $4,000 in saving to bitcoin. So the next steps are to go to coinbase pro exchange, add funds from my bank account there, and place a buy order, is this correct?
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You can buy some Bitcoin now if you are really a risk-taker or if you think that days from now Bitcoin will still be growing, maybe trudging the way to the $10,000 hill zone. In addition, since many alts are also moving, you can select some 5 good alts where to invest your money and encash them whenever you already realized a handsome profit. As you might already know, investing with cryptocurrency can be carrying some risks so always be informed and do your own diligence and at the end don't be shocked if you lose some money or better yet made some good ROI.
Can you give me an example of a couple of altcoins? |
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Separate your money for living and investment, if that 4k is for investing then, you can buy BTC now try to buy for lower price, and don't think of spending it, try to hodl at least 6-8 months from now, hodl is the best way for investment in BTC. Though there's someone who will tell you to trade, sure, if you know what's the success way of trading then do it, but if not, then hold is the recommeded choice.
Just to make sure that you use a secured device for hodling the BTC you have, at least desktop wallet such electrum in safe and malware-free desktop or a hardware wallet such ledger and trezor.
I plan to hold on to it from now on amd 4k is for investment. What's the difference between purchasing bitcoin on the coinbase app like I did and making a buy order on coinbase pro??? |
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How much is your balance for the loan? I'd advise you to pay that first so that you are free to do or spend that money in whatever and whenever you want. But if that's not easy and not the way that I think. If you have a spare money with your savings and that entire $4,000 is, wait a bit until the price decreases for the while.
But as much as possible be debt free first so that the experience you had before won't happen and if you have to pay for the loan and the price of bitcoin drops, you won't be feeling sorry for selling it.
It's a student loan a little above $17,000 and I pay $189/month or ready. I'm afraid the price won't decrease for a long time or how about if it never does again to $7,000. Wirhdrawing was a risk in itself and a mistake, I plan to wait after investing again. |
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I had a bitcoin but withdrew like a month and half ago on coinbase to pay some college loans especially since the value kept dropping. Obviously not the case now, I have $4,000 in the bank, what can I do now to make the best of bitcoin or can you give me strategies as it starts rising again?
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So I own $1000 in bitcoin but I want to invest the remaining amount to accumulate a whole bitcoin.
With what you have $ 1K, what is left of that amount for you to invest in bitcoin? how can you invest the rest for a bitcoin, while the price of bitcoin is now $ 7300. need more capital to reach so you can bitcoin. I think I'm confusing you. I got $1000 from my bank account and put into bitcoin using coinbase pro. Now I want to put in whatever is leftover to own a whole bitcoin not just $1000 worth. |
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