Is Holding Bitcoin a long time good way to make money?

[jackg]

Theoretically, it is and it isn't!
It is an investment, as long as the demand increases and there are no substancial flaws. It is a good thing.
However, if there is a low demand or there is large flaws that are found, it is a terrable investment!

[Rudsild]

If there is long term price rise of bitcoin, then it is a good idea to hold bitcoin. If everybody holds bitcoin and does not use bitcoin, there is no use of bitcoin. The price will drop.

[adicted]

Well if you bought some coins on the time you posted this and sold it a month ago, you'll definitely gain a good and decent profit for holding it. So I can say holding btc for a long time will be a good way to make some money. Personally I am holding some coins I earned months ago and wait for the right to sell it then get a nice profit. Anyways just keep in your mind that there are still risks involved, you should be aware of that.

[harizen]

Holding bitcoin "really" a good way to make money but its much better to hold it occasionally. What I mean is make profit than waiting long time to boost its price. In this way, you can acquired more coins while at the same time gaining profit without waiting too much in time.

[bitart]

Holding bitcoin "really" a good way to make money but its much better to hold it occasionally. What I mean is make profit than waiting long time to boost its price. In this way, you can acquired more coins while at the same time gaining profit without waiting too much in time.

What other coins do you recommend to buy when you sell your bitcoins to realize the profit of the price increase? I'm searching for a kind of coin that is also as reliable as bitcoin. I just need a coin that I can buy when selling bitcoin and sell it again when bitcoin price drops.

[bitlancr]

If you're going to hold for a long time then yes. While you are holding I would advise to also keep an eye out on the markets so you would know when to sell or exchange, if those are your future plans.
For now I'm just holding, I gamble every now and then for fun but at the same time I see bitcoin as a savings account, so that's what I'm doing.

[LuckyYOU]

If you're going to hold for a long time then yes. While you are holding I would advise to also keep an eye out on the markets so you would know when to sell or exchange, if those are your future plans.
For now I'm just holding, I gamble every now and then for fun but at the same time I see bitcoin as a savings account, so that's what I'm doing.

I agree and do the same thing as well. I find it easier to make profits of off bitcoin rather than putting it on a savings account and get a really low rate interest.
That's why I'm so into bitcoin too.

[HarryKPeters]

Currently i earned more with holding then with my mining operations (both cloud mining and my asics). So yes it is safer and more profitable. Remember with most investments with third parties you are risking all. Or in some case got scammed. Also there's no hassle, to check the price every day. With investments, mining and cloud mining you have to monitor prices or miners.

Very easy...

[richardsNY]

Currently i earned more with holding then with my mining operations (both cloud mining and my asics). So yes it is safer and more profitable. Remember with most investments with third parties you are risking all. Or in some case got scammed. Also there's no hassle, to check the price every day. With investments, mining and cloud mining you have to monitor prices or miners.

Very easy...

No matter what kind of investment you're looking at, the easiest and best investment is simply holding Bitcoin. Many people find holding very boring, that's why they are searching for investments with a high return. Companies and services that are legit, won't promise you high returns. Common sense is what a lot people here need.

[Blawpaw]

Yes it is! If you've bought your Bitcoin when they were around $200 to $225 (about two months ago) you would have doubled your investment by now! What more do you need to prove that  is is a good investment?

[coinplus]

Yes it is! If you've bought your Bitcoin when they were around $200 to $225 (about two months ago) you would have doubled your investment by now! What more do you need to prove that  is is a good investment?

Yes, a simple and real time example. Still many people are convinced to hold for long term to get some big profits out of bitcoin.
Many of my friends are waiting to sell around $1000 as they have bought it in the down market price of $800+, I believe no one can stop them from regretting later on.

[notaek]

Generally, I follow this strategy while dealing with BTCitcoins:

• I buy Bitcoins (around 2-3BTC in fractions) as soon as the price goes reasonably down. I also switch my miners off at this time.

• When the price rises up @20-30% and gets stabilized there, I hoard my existing coins and start hashing up.

• As soon as the price spikes upto 50-60% of my purchased value, I start selling them on LocalBitcoins in fractions. And my miners also start running in full phase.

P.S. Now is the prime time to follow my third strategy and I'm currently doing that too.

[viking02]

I'm the original thread starter for this thread.  I know how to acquire bitcoin as certain gambling sites give this to me.  However, are most you actually profiting selling bitcoin for a vig?


As of now, I know 2 ways for me to turn bitcoin into cash into my bank of america and that is through circle or coinbase.


So i see many of you mention localbitcoins.  So you guys are making even more selling it on localbitcoins since someone is giving you extra money for the vig?


Also what exchange are you people using to buy/sell bitcoin?


Example let say i have 10 bitcoins just for example.  Is there a place where i could buy and sell bitcoins as in trading daily in real time?  Example let say i have 10 bitcoins and price is $350.  I see the price has went up to $380.  I then sell at of them so i would make $30 each so $300 total.  But i would have to pay a fee for selling it in the exchange.  How much is the fee?  Then let say i want to buy 10 bitcoins at the exchange the price falls to $300.  Where do i do this immediately?  Someone asked me about my location.  Well im in mexico but im from the usa and have us bank acct.  Circle and coinbase required me to have a us bank acct to open acct which i have no issue with even though im in mexico, well i still use my usa banks.

[MaritiJames3]

I prefer using kraken or bitfinex to buy bitcoins. Those exchanges have a good volume and very solid security measures built in.
To get a more specific overview you should compare the larger exchanges in terms of trading fee + withdrawal fees. These can differ very much.

Proper research is therefore advised.

[sishendaoye]

If you look at either a 3 month or 3 year period. I think both terms are looking very positive to increase your money.
The perspective and outlook are looking very good and this you find back in the price.

[viking02]

I prefer using kraken or bitfinex to buy bitcoins. Those exchanges have a good volume and very solid security measures built in.
To get a more specific overview you should compare the larger exchanges in terms of trading fee + withdrawal fees. These can differ very much.

Proper research is therefore advised.

Well I'm from the us but i'm in mexico at the moment.  I have us bank account.   I also don't want to incur currency exchange fees as in the end, i want USD to my bank of america. 


And i would like low fees for trading and withdrawing. 

[woodson]

I prefer using kraken or bitfinex to buy bitcoins. Those exchanges have a good volume and very solid security measures built in.
To get a more specific overview you should compare the larger exchanges in terms of trading fee + withdrawal fees. These can differ very much.

Proper research is therefore advised.

Well I'm from the us but i'm in mexico at the moment.  I have us bank account.   I also don't want to incur currency exchange fees as in the end, i want USD to my bank of america. 


And i would like low fees for trading and withdrawing. 

You may want to check on the Coinbase Exchange.  It doesn't allow leverage or shorting but you can attempt to sell on the high and buy on the dip all within your coinbase account.

Hope this helps.

[MaritiJames3]

I prefer using kraken or bitfinex to buy bitcoins. Those exchanges have a good volume and very solid security measures built in.
To get a more specific overview you should compare the larger exchanges in terms of trading fee + withdrawal fees. These can differ very much.

Proper research is therefore advised.

Well I'm from the us but i'm in mexico at the moment.  I have us bank account.   I also don't want to incur currency exchange fees as in the end, i want USD to my bank of america. 


And i would like low fees for trading and withdrawing. 

You may want to check on the Coinbase Exchange.  It doesn't allow leverage or shorting but you can attempt to sell on the high and buy on the dip all within your coinbase account.

Hope this helps.

I am not too fond of coinbase, many users here also encountered problems with their support.

The worst thing though is their addresses. Every time you get a new address + your old address. Which makes no sense for me. If I wanted 10k addresses, i would open 10k addresess inmy wallet. right..

[richardsNY]

If you look at either a 3 month or 3 year period. I think both terms are looking very positive to increase your money.
The perspective and outlook are looking very good and this you find back in the price.

Holding till the block halving is the best option. After that you can decide for yourself if you want to hold your Bitcoins longer or not. I personally am holding for the long term, but I will surely secure some profits just before or just after the block halving.

[Kolamider]

The History of bitcoin is too short to say holding bitcoin a long term is a good way to make money. So far, for every 3 year period, the price always rise.