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Author Topic: Welcome to Indians  (Read 131999 times)
shariqkhan
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August 21, 2017, 08:48:08 PM
 #361

Hi All,

A newbie Bitcoin enthusiast from Bareilly (U.P.). Professionally a freelance web developer

I had heard about Bitcoin around a year back, but what I read (on Quora) was written in not so encouraging words. Basically, it went along the lines of 'Bitcoin mining was once very profitable, not it is no longer even slightly profitable unless you invest huge capital in it'. There was no mention of bitcoin trading; only a list of outdated hardware that once made people millionaires but were no longer any useful...and then another list of some other miners of which you would have to apparently get a couple (10-15), to make some decent profit.
If only that article had something on Bitcoin trading, things would have been different for me at least Wink

Anyways that is about me.

Anyone from Bareilly/U.P. here?
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sachinunchwal02
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August 24, 2017, 11:08:51 AM
 #362

how to know which btc website in real
shariqkhan
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August 24, 2017, 11:23:17 AM
 #363

how to know which btc website in real

Do you men to ask which BTC website/exchange is trustworthy?

Well, if you are buying Bitcoin or any other Atcoin (eg. Ethereum or Ripple or DashCoin or Lite Coin or whatever) for long-term investment, then you don't keep it with the exchange , no matter how reputed it is. Because exchanges are prone to hack attacks/bankruptcy etc.
Better to buy them from CoinSecure/ZebPay/LocalBitcoins/UnoCoin and then transfer them IMMEDIATELY to an offline wallet.

However, if you are in there for short term trading, then after buying on any of the Indian exchange, transfer your Bitcoins to a reputed international exchange like Bittrex/GDax/Poloneix/Kraken etc. and then do the trading there.

Which exchange do you choose should depend on :
1. whether the exchange supports the cryptocurrency you want to trade in
2. deposit/withdrawal feels
3. transaction charges
4. Other factors like support response time, UI/UX etc.
Ashutosh_Tiwari
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August 29, 2017, 05:14:16 AM
 #364

i am new here wants to know how bitcoin work,if you can give me reference link or initial little amount of bitcoin to start up.
thanks.
aspire
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August 29, 2017, 08:23:29 AM
 #365

i am new here wants to know how bitcoin work,if you can give me reference link or initial little amount of bitcoin to start up.
thanks.

Holla board welcome my brother here in forum. You can start with any amount and you can try to invest in yobit.
shariqkhan
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August 29, 2017, 09:30:39 AM
 #366

i am new here wants to know how bitcoin work,if you can give me reference link or initial little amount of bitcoin to start up.
thanks.
Hi Ashutosh,

Welcome to the world of cryptocurrency and the forum. I too am new here, but I will try to share as much as I know.

1. Regarding the amount of Bitcoins to start trading with: This is something you have to decide. As everyone will suggest you to not play with more than what you can afford to loose. At any time your investment should only be an amount loosing which would not financially/emotionally hurt you much.
But at the very beginning when you are learning how to trade start with a very small amount. Perhaps 5k-10k INR.
I started with INR 5000 as my first investment, because I wanted to see how bidding and selling works
Next time, I invested 30k. When i will gain more knowledge and confidence, I will invest more.

2. You can invest in cryptocurrency in 2 ways:
a) Trading
b) Holding as a long term investment . Eg. You could buy a bitcoin and keep it for long term in the hope that its prices are only going to increase substantially over time.
Other currencies speculated to grow substantially over time are: Etherium, BitCoin Cash, Ripple, LiteCoin, DashCoin, Neo etc.


3. Trading may be long term and//or short term trading.
For either of these, one needs to learn how to read the charts. I myself am new to this, so cant comment on this much. But there are many videos on Youtube which give you an idea about this.

4. For trading, the only way (for Indians) is to buy bitcoins from an Indian Exchange like Zebpay, CoinSecure or UnoCoin.
All of these require you to provide your identification details when you register. This is required by law and is called as KYC.
These exchanges take anything from a couple of hours to a couple of days. My personal experience was ZebPay was fastest (took only 5-6 hours in my case), while CoinSecure was slowest (took about 10 days). Unocoin took 4 days in my case.
Although CoinSecure was slowest, but I have heard very good things about it, so I want to give it a try.

To know the rates at different exchanges, see this site:
http://www.bitcoinrates.in/

5. Next step is to transfer your bitcoin to an international exchange. There are a number of exchanges like Bittrex, Poloniex, Kraken, Bitstamp, CryptopiaGDax, CoinMama, Bitfinex, C-Cex, Bithumb etc. These differ in number of currency pairs (among which you can trade), fees, exchange rate and availability in different countries.
See these links for a comparison of some of the most popular exchanges:
https://blog.infinitemlmsoftware.com/top-bitcoin-exchange-list-2017/#.WaQYzT4jGpr
https://99bitcoins.com/best-bitcoin-exchanges-comparison-review/

See this link for a list of cryptocurrencies and exchanges where they are supported:
https://cryptocoincharts.info/
coinmarketcap.com/all/views/all/

I personally use Bittrex for its extremely easy intuitive interface. However, I will soon start trading on Poloniex as well because:
a. the volume there is higher than on Bittrex
b. You should keep your coins in multiple different exchanges because if one exchange gets hacked, your rest of the coins are safe
c. There are some currenciies not supported on Bittrex, but supported on Poloniex. Vice-versa is also true

6. On the other hand, If you dont plan to trade and just want to buy bitcoins for long term holding, then remove your coins from online wallet to an offline wallet asap

This is all I have learnt till now, and I have shared it here. If I get to know more, I will add later on.
Femma
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August 30, 2017, 12:51:15 AM
 #367

Thank you so much.I new to Bitcoin so welcome all the Indian to Bitcoin.
Dil dil
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August 30, 2017, 09:09:58 AM
 #368

I am indian.i start it today
Sarah Teylore
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August 31, 2017, 05:30:58 AM
 #369

I want to know butcoin works
Dil dil
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August 31, 2017, 09:24:29 AM
 #370

I understand little bitcoin work
mihir
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August 31, 2017, 09:22:31 PM
 #371

Hello fellow Indians,

I along with my team of developers from India has come up with a new blockchain based project centering around social service. This project will mark the launch of the first cryptocurrency ICO from our country. We are a team of young and creative developers straight out of grad. college, and therefore lack the formal experience under our belt. Cryptocurrency is something which has a lot of potential volumes still to be covered, both locally and globally.

Indicoin- Blockchain redefining Social Service" is an ethereum based platform, becoming the 1st social service platform that enables users to use smart contracts to provide social proof to the [Suspicious link removed]munity through a decentralized, unbiased and transparent voting process thereby incentivizing and encouraging the user community to undertake more such social tasks.

We are pleased to announce that Indicoin token sale would be the first ever Token Sale/ICO officially covering India where people can buy Indicoin in INR as well as other cryptocurrencies. Our mission is to create awareness among 1.2 billion unaware Indians about cryptocurrency and blockchain ecosystem and also create a sense of social accountability among individuals.

All we need is your support and help to spread a word about our project on [Suspicious link removed].in[/url]

Regards,
Mihir

Rocky Handsome
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September 03, 2017, 11:35:55 AM
 #372

Welcome all the Indian to Bitcoin.thanks

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Dil dil
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September 05, 2017, 12:30:56 PM
 #373

Bitcoin penetraion is a Bangalore , Karnataka
Adioliver
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September 06, 2017, 02:38:18 PM
 #374

Hi to all my indian brothers and their sisters Wink.
Thanks for joining this sub forum.
All I want to say is that Bitcoin has a promising future and I am sure that in the coming years India will accept bitcoins in all transactions.
So guys keep earning bitcoins.
All the best. Smiley

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aizzaku
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September 06, 2017, 03:03:35 PM
 #375

wow wow wow... suddenly there is a high influx of Indians.

Good.. keep em coming !
Dil dil
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September 07, 2017, 06:21:00 AM
 #376

It is a gaying very quickly
vidu107
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September 07, 2017, 11:27:59 AM
 #377

Hello All Bitcoin seniors. i am a newbie and am from hyderabad. just brought .03 BTC and am super excited.
Hope to learn a lot more from all you guys Cool Cool Cool
Dil dil
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September 09, 2017, 09:37:30 AM
 #378

I wellcome to indian this is to sub form
Dil dil
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September 10, 2017, 04:28:36 AM
 #379

Some like and easy to understand eqco system is bitcoin
Dil dil
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September 10, 2017, 03:55:59 PM
 #380

Get to know that indian is a great india
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