5 Tools to Help you in Bitcoin

[KrisAlex18]

5 Tools That helps you to invest in Bitcoin

1. Telegram

Probably you already know that telegram platform is widely use in cryptocurrency. Their are so many cryptocurrency group or team that uses telegram for sharing information.

2. TradingView

If you want to be a trader or invest in bitcoin for a long term investment your gonna need to have a deep understanding of the trading view, become a analyst

3. Google Authenticator

A second layer security to make your cryptocurrency accounts more secured.

4. Ledger or Trezor

Probably one of the best cold storage to keep your funds especially for a long term investment.

5. Twitter

If you want to stay informed to the latest cryptocurrency news you could finds it on twitter.

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I don't think that telegram would be a better tool to learn about bitcoin because that is one of the best way of the hackers and scammers to steal your money, I have tried telegeram for one week, when I asked on the group chat about my problem on my yobit account.

My yobit account was being banned  last 3 weeks, then I used telegram because my friend suggest it to me, then when I asked about my problem, one of the stranger messaged me on about how can I recover my banned account, then he sent me a link but based on what I have seen about the website that he gave to me, it seems scam for me because of the interface and it requires me to input my wallet address, and based on my research about the website, there is no reviews that I can see so I didn't try it.

[tranthidung]

I don't see how using Telegram or Twitter can help with investing in BTC

But it does for trading. Crypto runs by news, and those platforms, with official project's channels and updated news can help traders. Unfortunately, totally relying on news can result in loses too if traders easily fall into the trap of FOMO, and join the party too late. Furthermore, news have to be screened and go through in-depth analysed before ready to use.

I make my trading decisions from charts (most important), developers' activities, then news. News are only kind of supports for my decisions, if the price hits the points I identify with charts (or above it a little bit), if good news come I will step in

[BITCOIN4X]

~snip

I must say that what you said is the right thing and if it is made in the form of a list then the results might be like this:
1. Graph analysis
2. Developers activities
3. News

But if it is me then I have to add a few points including:
1. Trading volume
2. Graph analysis
3. Developers activities
4. News

Before I start analyzing the graph, I have to see how big the trading volume is because it is very important and if the trading volume is very small then I am sure that the asset is not an asset that is suitable for us to trade.

[Lucius]

But it does for trading. Crypto runs by news, and those platforms, with official project's channels and updated news can help traders.

Of course, we can talk about how much good versus bad is on these platforms, and good information can probably be found, but I think any beginner and one who is not experienced will do more harm than good if they fully trust in everything they read there. Mostly we read about various scams that use social networks to reach as many people as possible, so maybe the general opinion of most people connected to crypto is that there is a lot of danger from that direction.

In fact there is not a real problem in the Telegram or Twitter, but in people who blindly believe everything they read. Do not use something you do not know, do not trust strangers and check everything before investing, it is better to be safe then to fall into the trap from which there is no escape.

[akirasendo17]

i think Google authentication for security of your email since if you use to store btc in an exchange also for settings in the exchange before you can withdraw - so its for security
The other one is like coinmarketcap so its like how you will monitor whos up and and down in the crypto trading
Telegram is not a tool needed for bitcoin investment, its like a messenger to exchange information with your family friends
a communication tool which has nothing to do with bitcoin, i think the things you need for bitcoin is a PC, internet connection, a trading flatform if you are trying to invest, and ofcourse here bitcointalk.org you will find a lot about bitcoin from mining to trading, any many more just look around the forum.

[Soldierswitlittlefaith]

I don't see how using Telegram or Twitter can help with investing in BTC, when it is already well known that these platforms serve as tools for more and more scams related to crypto. For these platforms to be useful, anyone who uses them should know how to recognize the good from the bad opportunity, the bad from the good person. If that is not the case, it is better not to use them at all.

I agree that hardware wallets, and 2FA is something that definitely increases our security when it comes to crypto, but only if we use them in the recommended/correct way. Buying hardware wallet, send coins there and save seed in your desktop or e-mail is a move that completely undoes the whole purpose of using such device.

I wanted to point out same issue. why the use of telegram?
FYI - there are aready-made scammer's with multiple related user names on telegram/skype.

Pls, donot suggest this as a tool to anyone.

Thanks
Soldierwitlittlefaith

[Lucius]

Soldierswitlittlefaith, why you quote my post with such reply? I did not advise anyone to use or not to use anything? I just warned that such tools can pose a great danger to those who are inexperienced. Telegram is just one of the popular ways of communication nowadays, and if used properly using common sense there is no danger. As I have already written, it is not just a problem with the tools, but with the people who use them.

What everyone should do before they start using crypto is education, but most people do completely the other way around, which paid dearly learning from their own mistakes.