Welcome to Indians

[shariqkhan]

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]

Thank you so much.I new to Bitcoin so welcome all the Indian to Bitcoin.

[Dil dil]

I am indian.i start it today

[Sarah Teylore]

I want to know butcoin works

[Dil dil]

I understand little bitcoin work

[mihir]

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]

Welcome all the Indian to Bitcoin.thanks

[Dil dil]

Bitcoin penetraion is a Bangalore , Karnataka

[Adioliver]

Hi to all my indian brothers and their sisters .
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.

[aizzaku]

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

Good.. keep em coming !

[Dil dil]

It is a gaying very quickly

[vidu107]

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

[Dil dil]

I wellcome to indian this is to sub form

[Dil dil]

Some like and easy to understand eqco system is bitcoin

[Dil dil]

Get to know that indian is a great india

[shariqkhan]

I see that last couple of message have only been about newbies like me introducing themselves. No other stuff happening here.
How about people who have a bit of knowledge share a couple of tips for others?


I will start to get the ball rolling. Please note that I am in no way affiliated with any of these sites. I am just sharing what I found useful.

1. You can easily buy bitcoins using Zebpay/Coinsecure/Unocoin. Unfortunately it looks like at the moment we have to rely only on Indian exchanges to buy bitcoins. No international exchanges for Indians for now.

2. Next step could be that you want to grow your bitcoins. For eg. you might have bought 0.5 btc. Now yoy may want o increase ito to 0.6 btc and further.
The only way to do so (without putting additional money) would be trading with different altcoins.
You buy an altcoin when it is low, and you sell it when it is high, thus gaining a little more btc in the process.

3. Once you decide to start trading in altcoins, you need too settle on an international exchange to carry on the trading.
Here is a comparison of different exchanges:
https://blog.infinitemlmsoftware.com/top-bitcoin-exchange-list-2017/

Please note that we cant buy bitcoins on international exchanges, but we can very well transfer our existing bitcoins (purchased from elsewhere like Coinsecure/Zebpay/Unocoin etc) to these exchanges and start trading.

The exchange you choose should depend on:
1. The altcoins do you want to trade in. Not all altcoins are supported by every exchange. Also trade-volume of each altcoin differs between exchanges
2. The transaction and trading fees of the exchange.

4. Charts
You need a place where you can see the increase (or decrease) of multiple coins at once.
One such free site is:
coinmarketcap.com/all/views/all/

You can also look at:
https://cryptocoincharts.info/main/topsFlops

One premium (paid) tool is CoinIgy. It gives you a lot of tools for in depth analysis of trends of different coins. They provide you with tools like candlesticks, waves, different studies like MACD, Bollinger charts etc.
MACD, Bollinger CHarts etc are different forms of studies done to technically analyze different aspects of growth of a coin. Professionals use these studies to very accurately predict when the price of a goin is going to increase or decrease.

There are numerous tutorials online teaching how to study these charts.

5. Portfolio Managers:
If you have a big investment, then you should NEVER put all your coins in a single exchange. Use different exchanges so if one of the exchanges gets hacked or shutdown, not all of your coins/money will be lost.
So for a big investment, you should be using the services of a number of exchanges.
But managing your invstment in different exchanges can become very tedious.
So you will need a portfolio manager which will help you look at all of your investments across different exchanges, from one place only.

Here are some of the most common portfolio managers:
https://www.cryptocompare.com/
https://cointracking.info/
http://coinfinance.com/
http://CoinTrackr.com


This is all for now.
If you find my post is irrelevant to the thread, let me know and I will not post further.
On the other hand if someone finds it useful, then again let me know and I will try to add more information I come across.

[Dil dil]

Indian first tokan sall this is bitcoin

[Dil dil]

Bitcoin suggest a good and very easy could make this service

[Dil dil]

That's right stave for new it's is a bast options are bitcoin

[Dil dil]

Bitcoin usage in a india is all indian