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November 05, 2015, 08:27:28 PM |
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Hello, mods please redirect me or share links if necessary.
I am a new btc user, and new in this forum. I have recently invested in mining, and i am looking to safely and securely begin transactions in btc.
My first questions are:
1. Where can i get my first btc? - I am looking to trade btc in quantities between 0.5 and 50? I like the bitstamp environment, and also opened an account with localbitcoins.
2. What is the main difference between an "exchange" and localbitcoins? Is it that you in the first you don't know who you deal with but you get what is on the board, versus the lbc where you know exactly who you are buying from but it might or might not be a great price deal?
3. When i make transactions on an exchange or lbc, where are my btc held/stored? Is it on my wallet held by them, or my own? Or both? - assuming i want to carry on trading btc
4. What are the risks of btc origin? - i.e. i heard that i should be careful so that the btc i receive has not been involved in illegal activities etc...
Finally, I would like to make a few transactions to break the ice based on your recommendations. Pls msg me here or PM.
A couple of things about me...my highest priority is transparency, clarity and security in my transactions. I have a strong background in stock trading so price action, bid/ask and limit prices are important to me. I am located in Canada.
I believe that these are questions you have answered before, but i haven`t managed to find clear and concise answers to all. Thank you in advance!
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