Newbie - Investing in BTC/ETH

[makkie]

Hello all,

I'm new to this and have started learning about the characteristics of bitcoin, how to mine it and the pros and cons of it. Although I have learnt the basics of mining, I personally don't plan on doing it as simply put I do not have the resources to do so. So rather than mining, I am looking into purchasing BTC through localbitcoins then transferring it to my Electrum wallet.

My questions are: (some of these have been answered in older threads but I just want to be reassured please)
- Would you advise on purchasing BTC now before August 1st?
- Is it advisable to use Electrum to store the coins? I have encrypted it and written my seed on paper.
- Would you say, in your opinion, ETH would be a good investment?

I only plan on purchasing a small amount of BTC (3-4) to start with.

If you have any books (or articles) you'd like to share that'd be a good read, please do share!

Thanks,
Makkie

[L]

Wait a bit longer, price will most likely go down in the future.

Electrum is a great wallet.

You can, probably, buy ethereum at a much lower price than todays.

When people say we are in a 'bear market' it will be the time for you to buy bitcoin and ethereum, don't fear missing out, follow the market and you'll find a good entry price.

[yasher]

Now is not the time to buy BTC, but for ETH i guess. Prices of both coins might drop in couple of days or week, and after August 1st that's the only time we can surely predict what will happen.

[makkie]

What if the price doesn't drop and increases? Many people (inc. those who predicted correctly in the past) suggest that it'll increase after Aug 1st. I am clueless whether to purchase before the event or after. Maybe 1 BTC rather than going for 3-4 before the event?

[~Bitcoin~]

- Would you advise on purchasing BTC now before August 1st?
- Is it advisable to use Electrum to store the coins? I have encrypted it and written my seed on paper.
- Would you say, in your opinion, ETH would be a good investment?

- Date doesn't matter much, the only thing you have to look at is price of bitcoin. You can wait for few more days for possible correction in bitcoin price to buy some.
- Yes electrum is way more secure than any other web wallets. Don't upload that seed online.
- ETH can also be a good investment looking at its price right now, it is under correction so its good time to buy some.

[Andrew1337]

Hello all,

I'm new to this and have started learning about the characteristics of bitcoin, how to mine it and the pros and cons of it. Although I have learnt the basics of mining, I personally don't plan on doing it as simply put I do not have the resources to do so. So rather than mining, I am looking into purchasing BTC through localbitcoins then transferring it to my Electrum wallet.

My questions are: (some of these have been answered in older threads but I just want to be reassured please)
- Would you advise on purchasing BTC now before August 1st?
- Is it advisable to use Electrum to store the coins? I have encrypted it and written my seed on paper.
- Would you say, in your opinion, ETH would be a good investment?

I only plan on purchasing a small amount of BTC (3-4) to start with.

If you have any books (or articles) you'd like to share that'd be a good read, please do share!

Thanks,
Makkie

1. You should better buy when it was 1800$ , it was 2-3 days ago 1800$ - 1 btc , if you were buying it , actually you could have profit 1000$ just for 1 btc , but stay tuned on coinmarketcap.com , when he goes down , buy , the bitcoin is going up
2.Hmmm I am not sure about Electrum but if you want a safe wallet , go on bitaddress and create one , i think is the safest method to get a wallet
3.Yes it will be a good investment , ethereum reached 400$ just in 1 year , and about bitcoin took some years to reach 400$ , I bought 500 eth when it was 7 usd and I still keeping him

[Kemarit]

Hello all,

I'm new to this and have started learning about the characteristics of bitcoin, how to mine it and the pros and cons of it. Although I have learnt the basics of mining, I personally don't plan on doing it as simply put I do not have the resources to do so. So rather than mining, I am looking into purchasing BTC through localbitcoins then transferring it to my Electrum wallet.

My questions are: (some of these have been answered in older threads but I just want to be reassured please)
- Would you advise on purchasing BTC now before August 1st?
- Is it advisable to use Electrum to store the coins? I have encrypted it and written my seed on paper.
- Would you say, in your opinion, ETH would be a good investment?

I only plan on purchasing a small amount of BTC (3-4) to start with.

If you have any books (or articles) you'd like to share that'd be a good read, please do share!

Thanks,
Makkie

Well you are just a few days late for purchasing bitcoin. The price plummeted to around $1800-$1900 a while back and that is the perfect opportunity to buy because the price is low. Remember, buy low sell high. So I urge you to wait for a bit before getting bitcoin.

Yes, Electrum is one of the best besides Bitcoin core wallet. Fast, lightweight you set the fees when transferring your coins, best of all you have control of the private keys and the seeds.

Ethereum can be a good investment but I don't know if it can reached again the level it got a few months ago when it touches ATH of more than $400. Right now, even though its red, the price is still high to buy. Just wait till it touches below $200.

I don't have books to share. If you are looking for a read. This forum would be the best. There are a lot of knowledgeable members here. If you have question just ask and I'm sure someone will answer you. You should also familiarized yourself in this forum and just go around several threads, you might find your answers there. Goodluck.

[uslfd]

Wait a bit longer, price will most likely go down in the future.

Electrum is a great wallet.

You can, probably, buy ethereum at a much lower price than todays.

When people say we are in a 'bear market' it will be the time for you to buy bitcoin and ethereum, don't fear missing out, follow the market and you'll find a good entry price.

Why do you think so? Please share?

You know 90% of people here are so optimistic especially after BTC bounced back to $2500+. However having examined the price chart closely, there is a voice in my head telilng me there is a high chance of another pullback to below $2K.

[SomethingMAD]

Now is not the time to buy BTC, but for ETH i guess. Prices of both coins might drop in couple of days or week, and after August 1st that's the only time we can surely predict what will happen.

BTC will come down shortly, more safely buy BTC. I am worried about ETH, lately there is a lot of fishing they have lost this Coin. This affects the ETH price. That's just my prediction.

[xuan87]

If you planned to have a long investment then you can buy and store bitcoin, but if you planned to trade it, I will suggest you to hold back the price is recovering but still not too stable, investing eth is also a good investment, it got a great future and electrum is one of the recommended wallet for offline wallet

[icecube45]

Hello all,

I'm new to this and have started learning about the characteristics of bitcoin, how to mine it and the pros and cons of it. Although I have learnt the basics of mining, I personally don't plan on doing it as simply put I do not have the resources to do so. So rather than mining, I am looking into purchasing BTC through localbitcoins then transferring it to my Electrum wallet.

My questions are: (some of these have been answered in older threads but I just want to be reassured please)
- Would you advise on purchasing BTC now before August 1st?
- Is it advisable to use Electrum to store the coins? I have encrypted it and written my seed on paper.
- Would you say, in your opinion, ETH would be a good investment?

I only plan on purchasing a small amount of BTC (3-4) to start with.

If you have any books (or articles) you'd like to share that'd be a good read, please do share!

Thanks,
Makkie

Do not buy bitcoin now because the price is still going up, if later the price goes down it is the best time to buy bitcoin. Using Electrum to store the coins is a good choice and I also do that. As long as you have private keys you will safely store your bitcoins. Do not forget to save the privat keys. ETH is a good investment, maybe that's true. Because the price of ETH is now down and there is the potential to rise again, you can also invest there.

[@prashant]

Hello all,

I'm new to this and have started learning about the characteristics of bitcoin, how to mine it and the pros and cons of it. Although I have learnt the basics of mining, I personally don't plan on doing it as simply put I do not have the resources to do so. So rather than mining, I am looking into purchasing BTC through localbitcoins then transferring it to my Electrum wallet.

My questions are: (some of these have been answered in older threads but I just want to be reassured please)
- Would you advise on purchasing BTC now before August 1st?
- Is it advisable to use Electrum to store the coins? I have encrypted it and written my seed on paper.
- Would you say, in your opinion, ETH would be a good investment?

I only plan on purchasing a small amount of BTC (3-4) to start with.

If you have any books (or articles) you'd like to share that'd be a good read, please do share!

Thanks,
Makkie

Do not buy bitcoin now because the price is still going up, if later the price goes down it is the best time to buy bitcoin. Using Electrum to store the coins is a good choice and I also do that. As long as you have private keys you will safely store your bitcoins. Do not forget to save the privat keys. ETH is a good investment, maybe that's true. Because the price of ETH is now down and there is the potential to rise again, you can also invest there.

Taking bitcoin in consideration,if segwit2x happen then price will boom ,and other altcoin price will go rapidly down.then you have a great opportunity to buy major altcoin or ethereum tokens ,tokens are much more profitable then any other altcoin as project will buy back token at ico price that remove chance of loss of your money.

[Herbert2020]

Hello all,

I'm new to this and have started learning about the characteristics of bitcoin, how to mine it and the pros and cons of it. Although I have learnt the basics of mining, I personally don't plan on doing it as simply put I do not have the resources to do so. So rather than mining, I am looking into purchasing BTC through localbitcoins then transferring it to my Electrum wallet.

for mining simply google it and you will find good articles to read. i think coindesk.com has a good one for beginners.

My questions are: (some of these have been answered in older threads but I just want to be reassured please)
- Would you advise on purchasing BTC now before August 1st?

things like August 1st will always exist as long as you are with bitcoin, if it is not Aug 1st it will be another date, another drama, another uncertainty! history is filled with them.
just measure the risks of each of these and invest what you can afford to lose. it is a very simple risk vs. reward strategy.

- Is it advisable to use Electrum to store the coins? I have encrypted it and written my seed on paper.

Electrum is a good wallet, and if you use it properly it can be safe. using properly means cold storage (read electrum documentation) and on a clean always offline computer.

- Would you say, in your opinion, ETH would be a good investment?

ETH is a good investment from time to time. right now i don't like it, because the risk of falling down hard is higher. and i have already made my profit when it was hot and rising in the initial pump. so i don't care about this stage at all. and prefer staying away.

[Hui8]

As suggested by everyone here, bitcoin is not good opportunity to buy at this point. You could have done that a week ago I would say. Anyway, the opportunities will come and go forever. Not advisable to buy or do any kind of transaction when you are in this important week of bitcoin split. Let the first week if august pass and we can discuss or feel the opportunity that may rise from then onwards.


Tip: If segwit is completely from the side of bitcoin supporter then the price is hundred percent rising above $3000. Then you must not buy bitcoins at that point. :-)

[HeRetiK]

As suggested by everyone here, bitcoin is not good opportunity to buy at this point. You could have done that a week ago I would say. Anyway, the opportunities will come and go forever. Not advisable to buy or do any kind of transaction when you are in this important week of bitcoin split. Let the first week if august pass and we can discuss or feel the opportunity that may rise from then onwards.


Tip: If segwit is completely from the side of bitcoin supporter then the price is hundred percent rising above $3000. Then you must not buy bitcoins at that point. :-)

So what your saying is: Don't buy Bitcoin unless it's going to rise in which case you should buy Bitcoin?

It's going to be a turbulent week, so unless you got strong hands it may indeed be a good idea to stay off the markets. But should the moonshot really occur, you'll only have little time to join the fun.

[klf]

Now is not the time to buy BTC, but for ETH i guess. Prices of both coins might drop in couple of days or week, and after August 1st that's the only time we can surely predict what will happen.

BTC will come down shortly, more safely buy BTC. I am worried about ETH, lately there is a lot of fishing they have lost this Coin. This affects the ETH price. That's just my prediction.

I don't think anyone can tell what will happen after 1st of August. If decided to invest money in the crypto market then I suggest don't wait but start buying in small quantity in regular intervals so that you will get a best average price. Because after 1st August if prices suddenly go up then you may not be buying it so buy some now and later some more.

[DaMut]

As suggested by everyone here, bitcoin is not good opportunity to buy at this point. You could have done that a week ago I would say. Anyway, the opportunities will come and go forever. Not advisable to buy or do any kind of transaction when you are in this important week of bitcoin split. Let the first week if august pass and we can discuss or feel the opportunity that may rise from then onwards.


Tip: If segwit is completely from the side of bitcoin supporter then the price is hundred percent rising above $3000. Then you must not buy bitcoins at that point. :-)

so buy bitcoin when you're sure it will go up based on their comments ?
and this "you are in this important week of bitcoin split",doen't people saying bip91 locked in ?
which mean we won't see chain split,no ? if you're waiting for first week august and then make a decision,you'll lose a lot of opportunity.
example ; segwit implemented and the prices surgin on 1 august,buy keep waiting and each BTC will be around 3500$~4000$ doesn't that mean you're missing 500$ profit for each Bitcoin ? (well,whatever it's up to you).

indeed Bitcoin price is surging these days because a lot of people already regained their confident,
rumour said bip91 locked in which mean we won't see chain split (not determined yet,because the time has not come.Miners still can choose the opposite)
if i was you,i'll think about how long i will keep it.if you keep it for longterm period such as 2-4 Years it's a good time to invest becauce no matter what will happen Bitcoin price will recover and go higher from his past ATH.

Electrus is the best so far for offline wallet,and many people used it.Other than that,people also use Trezzor

ETH is a good coin too,keep it and holding it will never let you down.but if you want to invest how about try other altcoin which is have a good potential growth and potential doubling your ROI.

[Mr.Anonymous]

Now is not the time to buy BTC, but for ETH i guess. Prices of both coins might drop in couple of days or week, and after August 1st that's the only time we can surely predict what will happen.

BTC will come down shortly, more safely buy BTC. I am worried about ETH, lately there is a lot of fishing they have lost this Coin. This affects the ETH price. That's just my prediction.

I don't think anyone can tell what will happen after 1st of August. If decided to invest money in the crypto market then I suggest don't wait but start buying in small quantity in regular intervals so that you will get a best average price. Because after 1st August if prices suddenly go up then you may not be buying it so buy some now and later some more.

My strategy for the situation in present is split my funds to 3-5 parts, use 30% for buying at now, 30% depend after August 1st and 40% keep safe money by withdraw to FIAT or holding Bitcoin in cold wallet. Because from August 1st maybe have HardFork Bitcoin and very risk if still holding Bitcoin on exchange

[ss890]

The simple answer is : Yes.

Would you advise on purchasing BTC now before August 1st?

Purchasing on the day of august is not allowed however the you buy before or after that depending upon the situation of bitcoin and where does it stands.
 

Is it advisable to use Electrum to store the coins? I have encrypted it and written my seed on paper.

Yes it is very secure vault and you have followed good practice of storing seed. You are good to go with secure savings.

 

Would you say, in your opinion, ETH would be a good investment?

After bitcoin ETH is the only coin that is worth investing into.

[babysweetTiger0401]

My questions are: (some of these have been answered in older threads but I just want to be reassured please)

- Would you advise on purchasing BTC now before August 1st?

  = In the first place, only fool and stupid person who will believe on what will happen to August 1, in fact, it is only massive FUD to deceive majority of the bitcoin enthusiast.  So, I could say you can buy bitcoin anytime you want whether before or after August.

- Is it advisable to use Electrum to store the coins? I have encrypted it and written my seed on paper.

  = Yes, it is much better for you to use Electrum to store your bitcoin by using this wallet.

- Would you say, in your opinion, ETH would be a good investment?


  = Yes, it is good in my opinion to invest or buy ethereum. I believed it has also good future ahead like bitcoin
but not the same price value as bitcoin have.