Trading is better than investing. Because what you do is buy and sell. This field requires experience in a market before entering. Therefore, for a beginner like you, you should focus on investing a little amount first and practice trading. Experimenting is the bestway to learn. Or watch videos about trading. Hope this will help you decide!
Actually, it depends on the ability and willingness of each person. So I always recommend learning first about the basics of cryptocurrency and the ways to get it. Understand all the risks that may occur. Thus you will find the best way. Trading and investment have their own risks. In general, it would be ideal if doubling funds owned through trading, then profit is used for investment. actually it would be better if you use both. surely the profits will be doubled right? but of course there is a provision that must be met. when you do trade you are in demand to be skilled, good at reading the market, and have a lot of knowledge about crypto. if you also still have a lot of capital it might also be better to have an investment. but you also have to be smart to choose which investments are legit and profitable |
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Here in the Philippines, we don't accept bitcoins as mode of payment but you can easily transfer your bitcoin to fiat using coins.ph. You can exchange fiat to btc or vice versa in just a blink of an eye. They are now also adding eth walllet so it will be more easier to transfer funds MEW and other eth wallet. So even companies don't accept crypto as mode of payment, we can easliy encash our crypto's. If you are going to ask where are we going to transfer the money? We can send it to banks and wire money transfers. All we need to wait is for a couple of hours before we can get the money.
Countries are only the users of bitcoin, it has no boundaries even if it is prohibited in some countries like China. Bitcoin operates in blockchain, therefore it has no boundaries or specific countries. Bitcoin is operating and is existing to many countries like Philippines because the government supports it. Bitcoin will continue to exist and will be recognized as the new currency of mankind. My country also has a local exchange like coins.ph and is very grateful because it makes it easier for bitcoin users in my country to exchange between fiat and bitcoin but you know that local exchange sites certainly use local domains right ? like conis.PH, of course if the state forbids bitcoin. they can easily block the site? |
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I am a crypto enthusiastic and i know a 90% of people here on bitcointalk are as well.
There are a lot of altcoins in the market today. What should one look out for before investing in any altcoin
First of all, I understand that maybe this is our future. Many coins have very good deposits. Most likely most of them will disappear in a few years, which is very likely. Remain the strongest and most promising. And since it's very difficult to guess, you have to spend a lot of time studying and maybe even money. In the end, the fruits of your efforts and investments will bring you huge profits and a decent future. If I had a crypto almanac, I would tell you for sure  of course more profit that beside bitcoin investment which led me to altcoin. there are many altcoins that have great innovation and great potential. that's what I like about altcoin. You can choose many altcoin for your investment. so you can get many alternatives and choices. but to choose such altcoin requires knowledge and skills. but if you have that skill you will certainly benefit greatly from altcoin |
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Bitcoin transactions are way slower than other cryptos and fees are high, and when you pay with bitcoin you pay with only fractions of it, so do you think it is possible for bitcoin to become a daily currency? Something you can use to pay for coffee? If no, then what cryptocurrency have this potential?
I think bitcoin can become a daily currency given that it gets more support from the community now. However, price-wise, we should establish that bitcoins must have a stable price first before being considered a daily currency. People should always consider first the total supply. yeah, you're right I think an unstable price will certainly hurt the seller if they don't know how to process payment with bitcoin because with fluctuations, of course, the price can drop anytime. if bitcoin is implemented as a daily payment. of course, there must be a special technology like bitcoin debit card so don't need to use transaction fee and bitcoin will be converted automatically to fiat if the sellers want it. |
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I recommend meeting up because first it's more legit and more social, and if your transaction is far from you find a guy who is near you and stick to that transaction but if none. always check that guy if he is trusted or a friend of yours introduced him.
I often do deals with people in my city, I know that whenever evil can happen right ? let alone bitcoin is still illegal. ?I cannot report to the police if I lose money because of bitcoin? so I always be careful when doing transactions with people that I don't know. I agree with the tips of the OP. at least you should do transaction in public dude. I always do that and never have a problem |
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If you are a crypto newbie start from point 1. If you already invested money into cryptos then start from point 2.
1. Invest only the amount you can afford to lose without even sweating about it.
2. Wait for the rise of the value of your investment around 2x and then pull out the amount of your initial investment. This way it's like you never invested and you still have a profit, and a portfolio.
3. When you receive some extra profit put that aside too - open yourself a little "crisis fund".
4. When the crisis happens, look for the prices of travel to the tropical country you always wanted to visit.
5. Activate your "crisis fund".
6. Take your family on a vacation and enjoy the sunshine while everybody else is panicking.
7. Return from the vacation and irregularly check your portfolio to enjoy the rise in value.
8. Repeat steps 3-8.
actually, the function of the above points is so you don't get panic when a coin prices go down. usually, the price will go up after a few days, that's the function you go on vacation. after going home then you see the price is back pump, but sometimes when the pump does not meet expectations. sometimes we have to wait a long time for the price to go up. so the point is not the travel that makes you not panic. you have to change your mindset that falling prices are a natural thing and rising prices are a sure thing. |
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For me I did not borrow a fiat to get bitcoin and I never did. The market is too volatile to do such a thing. At the moment you may benefit and an hour later all your portfolios may be red, and it may take some time before recovering. The next time you will not be able to repay your debt and interest will always increase every day.  there are actually many facilities to borrow funds for trading. even in exchange like poloniex itself there is a special section for lending. there are lots of traders who do that and I don't know if they are profitable then can pay the debt or not. because I myself have never done that before. You're right that whenever the price goes up and maybe the price can be red when it's due time to pay debt, what would you do ? |
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If you have some good value tokens or coins then try to hold but for your daily life requirement like paying some bills must trade and withdraw but as per requirement and hold for better future.
Indeed, some people do use trading as the main income. although at risk of course they are experts in this field so the loss is a common thing but of course the profits will get much bigger. but a long-term plan should necessarily be needed for everyone. I am also a trader but I also have long term plans for my future. therefore I have bitcoin for long term / future. |
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Now that governments have a competitor in terms of currencies, do you think that they will make an effort to make the economic system more transparent or will they just try to ban everything?
Probably they are going to ban it because there are some politicians afraid to loss their ill gotten wealth.And we know that onced bitcoin is legalized,it can destroy corrup politician because ther are no more money from the government will be stolen.And if ever this would happened,there will be a big changes to our economy. I don’t really believe that it would be easy to reduce corruption with bitcoin. Conventional currencies can easily be regulated, and you can also trace when money is stolen in government. But with Bitcoin, meehn, it will be a really difficult case to identify when money is stolen and who the victims are.So Bitcoin is not a solution to stopping corruption. Think twice about it. of course bitcoin is not the right way to reduce corruption. even transactions bitcoin is anonymous? would make it difficult for the government to do tracking on one's transactions. maybe you mean digital currency? it will reduce corruption because all transactions can be seen and tracked easily. digital currency and cryptocurrency have differences |
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Well, I think it is indeed too much complicated and harder to use, you have to have knowledge about how it works on internet. You have to make an account, buy bitcoin from different sites ( which takes 5% to 7% Fees) then transfer to exchanges for trading or to use.
It is not at all complicated to invest in Bitcoins. There are so many blogs with detailed tutorials related to making accounts on different exchanges and doing transactions. Yeah remember there is always google and youtube and people can ask this two platforms and can get a lot of information about what they are searching on it. But not all people can use this kind of technology because not everyone can afford to buy a smart phone or a computer and pay internet bills. We are lucky enough that we can use this kinds of privileges in our lives.  But even bitcoin and blockchain is a little bit complicated everyone can easily learn this technologies as long that they have access to the internet. Thanks for your input, yes now a days there are tons of video on yotube, and also lots of trading videos explain how to buy different coin, i believe it's getting easy day by day. And more people will able to buy bitcoin. the reason why bitcoin is still said to be complicated and confusing because they are reluctant and lazy to find out what bitcoin is? actually already a few years ago even though there are many articles and videos that explain what is bitcoin and how to get it. it's just that people people may not have the opportunity to access it. now more and more articles about bitcoin on the internet and even many who review about altcoin and ICO. there is no seizure if they want to read and understand it |
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Well, i just thought, if bitcoin become a currency of one Country, maybe it can destroy that country? Think of it, Bitcoins do not have a tax, and tax are used by the government to make that country a good one, without tax, what will be used to spend and make that country a good one?
What do you think?
bitcoin is not going to ruin a country, bitcoin is providing opportunities to its people for investment and trading, so bitcoin can be a good tool to increase the status of a country economically. i think if government take serious step about bitcoin and regularize then they can also impose tax on it and will certainly collect good tax from bitcoin. bitcoin is a cryptocurrency that helps people to earn. an opportunity that a people can have an investment in the future. Like me I've been here in bitcoin without any money when I started here. I mean I don't invest but in a months time I've got my coins here in which I traded and got a cash . so why it can ruin a country? well in fact it heps the people if every country who allows bitcoin. for a person of course it will be profitable. but the impact of bitcoin as an anonymous and decentralized currency will certainly harm the state? corruptors will certainly easily laundering their dirty money in bitcoin without being seen by anyone. many people will darken their taxes with bitcoin. so that the bad impact will be felt for the country's economy? #IMO |
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A few countries and central banks have been talking about “digital currency”, and most of them are carefully ignoring the term “crypto”. Fact is- digital currency is not the same as cryptocurrency. These countries/central banks are recognizing the benefits of the digital currency features of cryptocurrency, but they don’t want any of the decentralized uncertainties that come with blockchain-based currencies.
Will countries or central banks create their own cryptocurrency?
I don't think that the government will make cryptocurrency because they do not like decentralization. yeah you're right. I'm more inclined to think that the government or central bank will make digital money. this is certainly the influence of the needs of an increasingly advanced era and requires governments to make their local currency into digital versions. cryptocurrency and digital currencies are different |
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I believe that bitcoin has many problems as well as benefits. For example, when the price rises, you can see people selling their bitcoins to gain profits. Therefore, the transaction fees also rise, not to mention that you can wait 2 weeks or one to get a confirmed transactions.
It is quite troublesome for me to pay high fees when I do not need much money. Another problem is its stability. As a matter of fact, bitcoin has never been stable. It always increases and decreases and you cannot predict its next movement. It is playing monopoly with us.
getting ahead bitcoin prices will be higher and make bitcoin fees more expensive because the default fee is 0.0001 btc. even in exchange fee fransaction can reach 0.002 btc, its crzy expensive for only transaction fee. that's the biggest problem of bitcoin I think, because how can bitcoin be the world's currency or payment method if the cost per transaction is so expensive? do you think this problem can be solved? for an unstable price I think it's a natural thing because it's been from the beginning that bitcoin is volatile |
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Do you think Bitcoin will remain the most dominant coin both short and long term? Even though it does not remain the most dominant coin, this will not be the same as saying that Bitcoin won’t exist long term.
Yes Bitcoin will be dominant for the upcoming months and it's starting right we don't have to worry because altcoins will follow at the same time. what about marketcap? because maybe marketcap can represent how big total of existing user on a coin. today Ethereum market has a very large marketcap. only 50% of the total bitcoin marketcap? it may be that the next few years Ethereum marketcap may exceed bitcoin, and ethereum becomes the biggest cryptocurrency in trading all possibilities can happen right? |
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With the unpredictable changes in bitcoin price people have chose to hold instead of day trading,I mean the majority have.
How risky is day trading at the moment?
For me day trading is very risky especially when youbare just getting started to this kind of business in this kind of work you are gonna have a hard time before coping up to the right thing. And at first you are gonna lose some money especially when you are a beginner you do not know the basics it hard to blend it but if you are really dedicated you will win a lot of trafes and will win back all the losses you ever comit. yeah for day trading you have to understand in detail about the price change on the coin, smart in reading market, (experience will teach it). in addition to expert skills, time allocation should also be a lot, that's why they dare to just rely on day trading for their earnings, because they spend the whole day in the market, it takes a high dedication to be able to profit every day in trading, the point is and it takes experience and skills, |
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after this major price correction. i want to see what are your ideas on this. lets say you bought bitcoin 2 years ago. you notice prices were high at 19,000$ should u sell or continue to hold? what are your thoughts after this huge correction?
it is probably too late to sell after holding since the 19000$ correction.
Hold it, do not panic because of negative news about bitcoin. I think you are familiar with unstable and erratic bitcoin prices, but for the future bitcoin will rise again. I think the user should understand deeply about bitcoin price history that sometimes bitcoin prices drop very deeply but then the price recover. the point is don't need to be panic about the current situation. falling prices is a natural thing in bitcoin dude, no need to sell bitcoins when prices are low because you are panic, it will only give you a loss. rest assured that bitcoin prices will go back up because it's a sure thing |
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If this ever happen that bitcoin will continue to fall I will never convert it to fiat because I don't want to loose the value of it if I will convert it into fiat. Selling it at the lowest point is really a bad idea because we all know that one of this day bitcoin value will reach again the highest point of it and break the record last december.
I think if you are convinced that bitcoin has a beautiful future. you do not need to cutlose because it will only hurt you. because bitcoin prices will definitely re-recover. one of the right things when the price goes down is to be patient and restrain. if you still have a backup fund. even I recommend you to buy bitcoin again because you will get bitcoin in a cheap price |
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Yes I know it not over yet bitcoin has a great future that will be hard for rumors carriers to destroy that great future just by spreading FUDS and bad news. If you have taken your time to study the bitcoin market in the past you will agree with me that the current happening is not new in the bitcoin market that is why bitcoin is termed as highly volatile.
It is not really over yet, as a matter of fact as the days are passing by we are still increasing in demand so we can come up with the idea that it is already over, of course not. Just always think whenever the price down that it is not over yet and that we are just starting to do this thing. only people who hate bitcoin that say bitcoin is over just because of a price drop. whereas earlier this price drop has happened several times in bitcoin, so what's weird? this is a natural thing for bitcoin dude. moreover now the market condition of bitcoin start to improve. bitcoin prices start to climb and already past $9k. and I hope in the near future will exceed $10k. so of course just the nonsense if people say about bitcoin will end |
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whats your problem with the banks?and why need to eliminate them?they are the medium of the people from online wallets and stocks to physical.i dont think banks will be gone since not all people have an access to Internet or dont know how to use gadgets.frankly speaking actually this bank system has long existed since hundreds of years ago. so even I'm a bitcoin user though I do not think the there is no bank in the world is a good idea either. banks are not just a place to save money dude but many other benefits to society. the central bank is also responsible for state finances such as printing local currency and so on. so eliminated bank is not a good thing |
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Hi. Just wanted to know u guys opinion of do the day trading and hold. Thank you in advance.
Just make the test: 1. Take a paper and a pencil 2. write 10 BTC on your paper (congratulations, you now own 10 BTC) 3. Invest this BTC, note on your papers your buying prices (don't forget trading fees and withdr./deposit costs) 4. Follow your invests and sell/buy 5. Note the time you spent on trading during a day. 6. if you can't spend 20 hours a day DON'T day trade. because day trading is more risky than holding a coin. you have to standby and allocate a long time to use day trading dude. when you buy a coin then you have to keep an eye on the market because the occasion of selling sometimes comes just a minute. yeah if you do not have a long time for this. i think don't use day trading dude. better holding your coin |
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