Worries: can anyone advise?

[btc-facebook]

I'm usually trade with my local currency , of course you need identity in order to withdraw your money
Just make sure that you're trade on what you can afford to loss and prepare for lossing rather than winning since it's will make your mental , better

[Trela]

You worry where there is no worries, simply use your money to buy perfect money from any reputable exchanger and you fund your bitcoin account with it and you can easily buy bitcoin, this is applicable to other e-currencies like paypal, payza, okpay etc.

It's silly to say that the OP does not need to worry. That is a huge sum of money, which means he is risking his fortune. These investments can have serious consequences. Care is needed.

Yes, do not try the high risk with a huge money, do that like you disregard your money and in future, I can sure you will loss a lot of money if still keep this opinion.

[Dudeperfect]

I am interested in buying around $100k of Bitcoin.

- That's a huge amount of money so I would strongly recommend you to spend at least a week for research before taking any decision.

Is the best way to buy in small quantities on an exchange?

- I am not sure if they allow overseas investors or not but in my country, a Bitcoin exchange named Unocoin allows us to place the systematic purchase orders, it means if we put $100 (INR) in our Unocoin account and place order of SIP $1/day then Bitcoins worth $1 will be automatically purchased and transferred to our Bitcoin wallet every day at the rate of that particular day. I am not sure which international exchange has such feature.

I read that some banks won't let you transfer money to a BTC exchange, and worse, may close your account.

- Yes, thus check with your bank and follow the regulations. There is no point in arguing on the pre-defined rules and regulatiuons unless you are a politician.

I worry that the exchange may fail and I would lose all my Bitcoin

- That's why it is recommended to store all of the Bitcoins in cold storage like hardware wallets or securely generated paper wallets.

I worry that Bitcoins anonymity is not going to work, after all, my bank will know that I transferred funds to a particular BTC exchange, or to a block chain account.

- Exactly so buy smaller amount with a frequent interval of time instead of buying lump-sum.

I worry that if I manage to get money into Bitcoin, I may have trouble getting it back due to financial regulations.

- It's about legal regulations and everything is in grey area at the moment in most of the countries so yes, there is risk associated with it.

I worry that I will lose my Bitcoin wallet due to an Internet problem.

- That's why you should learn more about security precautions while maintaining cold storage and real time backup of it.

I worry that my Bitcoin will be lost if I die.

- Yes if you keep it a secret from everyone and that's why you should always train your legal heirs to use Bitcoins. Especially how to retrieve Bitcoins from cold storage etc.

By the way I have no worries about price changes.  I can take the financial loss if there is one.

- Great, crypto market is wild and it loves investors like you.

Please tell me if there are solutions to these problems.

- Hope it helps 

[lol3c]

I think that coinbase does allow users to buy a big amount of bitcoin at a time. Moreover, I believe that some local exchange allow people to buy a huge amount bitcoin from retail sellers. In my place, people use remitano to buy bitcoin and you can buy seperate amount of bitcoin from different people

[wuvdoll]

You worry where there is no worries, simply use your money to buy perfect money from any reputable exchanger and you fund your bitcoin account with it and you can easily buy bitcoin, this is applicable to other e-currencies like paypal, payza, okpay etc.

It's silly to say that the OP does not need to worry. That is a huge sum of money, which means he is risking his fortune. These investments can have serious consequences. Care is needed.

Yes, do not try the high risk with a huge money, do that like you disregard your money and in future, I can sure you will loss a lot of money if still keep this opinion.

It is better to understand situation and analyze consequences of all possible actions instead of worrying. Concern is the better word to be used instead of worry. Being worry will just increase his pain so skip it for his own betterment. Getting serious would do a lot better. Playing with all the wealth at one time is not recommended by me also.

[Svelto]

I suggest you check your country law about crypto. If the law allows you to buy crypto then it should be fine. Try searching in local bitcoin, you might find local individuals selling bitcoin and you need not transfer fund to BTC exchange. Same thing, you can sell your bitcoin to local buyers when you decide to sell.
You are right to say if the exchange fail and you will lost your Bitcoin. That is why you should keep your Bitcoin in a wallet that you control totally (private key is kept by you and only you know what is the private key). I suggest you keep the $100,000 in a hardware wallet (Ledger or Trezor wallet).
And no, you do not lose your Bitcoin if there is an internet problem except scams. Do not give your private keys to others.

[ekoice]

You can use localbitcoins.com to buy bitcoins there.If you have a problem in transfering money from banks for buying bitcoins so that you fear that your transactions could be traced,then you could even indivially buy bitcoins from sellers by paying cash as that opion is also available in localbitcoins.com.There are lots of sellers there who accept cash payment directly for selling bitcoins.I think that you are a little bit scared about just zooming about some issues which may be faced in bitcoins.But remember that there are thousands of people who have already bought bitcoins and enjoying financial freedom as well as huge profits.Good luck and warm welcome to the bitcoin community.

  Edit: I'm sorry.This post was posted in 2015 and so i think,by this time,you would have been enjoying benefits of bitcoin.

[thunderbitz2717]

I am interested in buying around $100k of Bitcoin.

Is the best way to buy in small quantities on an exchange?

I read that some banks won't let you transfer money to a BTC exchange, and worse, may close your account.

I worry that the exchange may fail and I would lose all my Bitcoin

I worry that Bitcoins anonymity is not going to work, after all, my bank will know that I transferred funds to a particular BTC exchange, or to a block chain account.

I worry that if I manage to get money into Bitcoin, I may have trouble getting it back due to financial regulations.

I worry that I will lose my Bitcoin wallet due to an Internet problem.

I worry that my Bitcoin will be lost if I die.

By the way I have no worries about price changes.  I can take the financial loss if there is one.

Please tell me if there are solutions to these problems.

Wow! You know how much is that 100k$ in my coutry it equivalent of 5Millions here is a huge a amount dude. So my advice to you is if you have any knowledge in technical terms here in this industry use 20, 000$ to buy a bitcoin mining rig/mining equipment for you to have daily bitcoin profit. Especially if your palce is a cold area that will be good, then the rest of your capital invest them into bitcoin, and some altcoins that are potential and legit and always in top 20 listed in the coinmarketcap.

[suzanne5223]

I think is will better if you use the meet up section on this forum to search for a seller or you can look for a seller through localbitcoin. Besides, putting $100K into is a wise decision because it will bring you a good return in the year 2020 but it require a conc secure wallet address.

[Trickyt57]

I am the opening poster (OP）from two years ago and would like thank everyone for the brilliant advice on how to address my worries.  Below are some replies to your comments.   Firstly, in 2017, I see bitcoin as way safer than in 2015.   There are far more ways to buy, hold, or trade bitcoins than 2015.  It is seen as way more acceptable in 2017 to own bitcoins than 2015.

I am interested in buying around $100k of Bitcoin.

- That's a huge amount of money so I would strongly recommend you to spend at least a week for research before taking any decision.

- answer: Spent two years, not a week.

Is the best way to buy in small quantities on an exchange?

- I am not sure if they allow overseas investors or not but in my country, a Bitcoin exchange named Unocoin allows us to place the systematic purchase orders, it means if we put $100 (INR) in our Unocoin account and place order of SIP $1/day then Bitcoins worth $1 will be automatically purchased and transferred to our Bitcoin wallet every day at the rate of that particular day. I am not sure which international exchange has such feature.

Answer:
I am now buying regularly through multiple exchanges, machines, credit cards, person to person and through regulated and quoted ETFs and tracker funds, and bitcoin notes issued by reputable banks and held in custody by banks.

I read that some banks won't let you transfer money to a BTC exchange, and worse, may close your account.

- Yes, thus check with your bank and follow the regulations. There is no point in arguing on the pre-defined rules and regulatiuons unless you are a politician.

Answer: All my banks now accept that i am investing in bitcoin.  My main bankers are great fans and are buy9ng bitcoins themselves.

I worry that the exchange may fail and I would lose all my Bitcoin

- That's why it is recommended to store all of the Bitcoins in cold storage like hardware wallets or securely generated paper wallets.

Answer: I store all bitcoins on paper in cold storage in several locations, underground bank safes.

I worry that Bitcoins anonymity is not going to work, after all, my bank will know that I transferred funds to a particular BTC exchange, or to a block chain account.

- Exactly so buy smaller amount with a frequent interval of time instead of buying lump-sum.

- Answer:  For larger size i am doing trackerfunds on which my bank charges a custody fee.  For exchanges, no more than a few thousand dollars at a time.

I worry that if I manage to get money into Bitcoin, I may have trouble getting it back due to financial regulations.

- It's about legal regulations and everything is in grey area at the moment in most of the countries so yes, there is risk associated with it.

- Answer.  There are so many people interested, and so many exchanges, that I reckon there will always be a place i can sell them.

I worry that I will lose my Bitcoin wallet due to an Internet problem.

- That's why you should learn more about security precautions while maintaining cold storage and real time backup of it.

I worry that my Bitcoin will be lost if I die.

- Yes if you keep it a secret from everyone and that's why you should always train your legal heirs to use Bitcoins. Especially how to retrieve Bitcoins from cold storage etc.

By the way I have no worries about price changes.  I can take the financial loss if there is one.

- Great, crypto market is wild and it loves investors like you.

Please tell me if there are solutions to these problems.

- Hope it helps 

[btcdamnit]

Worry not buy from coinbase
Place The order 15$ above Market price
and you are sure to get all in one shot
Buy a trezor or any hardware wallet
store your bitcoin
Print the encrypted private key in papers and pendrive
put it in locker
and say the decryption password to your close one