How do I invest (safely) in Bitcoin for the long term?

[gabmen]

Hello,

THIS IS A QUESTION FOR EXPERIENCED TRADERS IN BITCOIN

I am a novice in BTC but have been lucky so far. I bought BTC at under $2000 and have now sold it at $4100. I am sure that I have made some mistakes in the way that I have bought, stored and sold the BTC.

I now want to trade both long term and short term in BTC. I want to trade in minimum USD $10,000 blocks

Long Term What is the "best practice" processes to buy and sell BTC?

Where is the best place to buy BTC using USDs

Where is  the best place to store BTC using USDs. As a result of my limited research, security seems to be a major issue. I am prepared to buy a dedicated computer solely to store the BTCs if necessary

What is the best place to Sell BTC using USDs

There is no such thing as safe investment, you can only regard to it as a calculated risk investment, in which you have done a lot of research on the investment and you have been able to note that it would be profitable for you.

I agree. You can only do so much and you're still not going to have 100% assurance of having a safe investment. Though of course your chances will considerably be better than those blindly investing on random icos without doing proper preparation but still, bottom line is there still are risks

[1713486803]

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[rollsroyce]

Though you are very lucky to make it in your last investment  according to your testimony and I am very happy for you for making so much at list double your investment. Since you said you are new I think you should study very well to know when to buy and time to sell.

OP here.

Thanks for your advice. I am an experienced trader and investor. I am waiting for the Bitcoin price to drop before I get back in.
Maybe around the $2500 area. Any market that goes parabolic eventually collapses back to much lower levels.

Is there a way to short this market through a reliable broker?

Bitcoin is starting to get down to my target area.  Currently at $4180. Down from $4969.  Thats down 16% in less than 2 days.
Ethereum is now down from $391 to current $295. Thats down 25% in less than 2 days.

I love this market
[/quote]

OP here

Bitcoin has now gone as low as $2981. It will definitely get to my target of around the $2500 area.
Ethereum has now gone as low as $201. It will get to $100 without even working up a sweat.

Bitcoin at $2500 is a good place to buy.
Ethereum is a good buy at $100

[Monnt]

You can only do so much and you're still not going to have 100% assurance of having a safe investment. Though of course your chances will considerably be better than those blindly investing on random icos without doing proper preparation but still, bottom line is there still are risks

You can invest safely in bitcoins for long term buy making correct use of your analytical skills and market intellect. People usually feel insecure because bitcoin doesn’t exist physically and who will be responsible for their investments at the time of crisis, I think they will surely get answers to these when bitcoin will be legalized in the world.

[hilarypolar]

You can buy your BTC on Coinbase using dollars and if you want to feel more secure, get a wallet so you can keep it there, that way you keep it out of an exchange. In my opinion a wallet is always safer, if you are not looking for trading or so. Good luck with it

[CarnagexD]

Any devise that it is online are never safe. I suggest that it is better to have one of these hardware wallets to store your bitcoins long term. Or better yet, use paper wallet. As for the exchanges, when you want security you may want to use decentralise exchange (bitsquare). If you're okay with custodial exchanges then go ahead and use it, when trading you may want to consider volume as a factor. Go for the exchanges that has the highest volume.

It is tyre that we should always consider that risk is always there when it comes to investments. So for us to evade the effect of the risk out there in all form or investments we shod always consider an option for us to learn more and ti adapt to the changes in terms of the development it cod take as a form of transaction with used of Bitcoin or in terms of tradings, investments or any type of transaction.

[ngacengan]

I think the november fork needs to be taken into consideration. it might effect the market significantly.

Yes, probably you are right. But I think for investing for a longer term and that too safely, needs you to be a good player. You first need to make smaller investments and see the way things happen. When you think yourself good enough to proceed for a long term investment, only then go for it.

can you include links about fork? this could be good info for bitcoin players to buy first because surely the price will rise after fork.

[poetra2501]

You can only do so much and you're still not going to have 100% assurance of having a safe investment. Though of course your chances will considerably be better than those blindly investing on random icos without doing proper preparation but still, bottom line is there still are risks

You can invest safely in bitcoins for long term buy making correct use of your analytical skills and market intellect. People usually feel insecure because bitcoin doesn’t exist physically and who will be responsible for their investments at the time of crisis, I think they will surely get answers to these when bitcoin will be legalized in the world.

That's what we are hopefully that bitcoin will be legalized in all countries, if that will be
happen then I am sure will be many people who will invest into the bitcoin.

[willmsnow]

You can try coinbase, I think coinbase is your answer.
There you can store bitcoin and usd, i also used to save bitcoin and usd and coinbase quite easy to understand.

Doesn't coinbase always save bitcoin as USD equivalent? If bitcoin price rises then the USD value does not rise there. Is it incorrect?

[liuqi]

You can only do so much and you're still not going to have 100% assurance of having a safe investment. Though of course your chances will considerably be better than those blindly investing on random icos without doing proper preparation but still, bottom line is there still are risks

You can invest safely in bitcoins for long term buy making correct use of your analytical skills and market intellect. People usually feel insecure because bitcoin doesn’t exist physically and who will be responsible for their investments at the time of crisis, I think they will surely get answers to these when bitcoin will be legalized in the world.

Diplomatic answer buddy. You have to mention which best option according to your view. There are many people investing on various platforms in bitcoin such as trading, mining, gambling, doubling and so on.
Now after Japan, India made bitcoin legal to use it everywhere in their country. I would prefer trading because we can utilize the time when value dumps and climb to peak when reached to more value later on that.

[Duogembrot]

Hello,

THIS IS A QUESTION FOR EXPERIENCED TRADERS IN BITCOIN

I am a novice in BTC but have been lucky so far. I bought BTC at under $2000 and have now sold it at $4100. I am sure that I have made some mistakes in the way that I have bought, stored and sold the BTC.

I now want to trade both long term and short term in BTC. I want to trade in minimum USD $10,000 blocks

Long Term What is the "best practice" processes to buy and sell BTC?

Where is the best place to buy BTC using USDs

Where is  the best place to store BTC using USDs. As a result of my limited research, security seems to be a major issue. I am prepared to buy a dedicated computer solely to store the BTCs if necessary

What is the best place to Sell BTC using USDs

you can try trading lending that is in poloniex, there you like invest do not have to trading we just invest there and we get profit every day.

[Tecumseh666]

if you want to get more income from bitcoin you must be away from this word safely  Because risk mean money

[mriansa]

Hello,

THIS IS A QUESTION FOR EXPERIENCED TRADERS IN BITCOIN

I am a novice in BTC but have been lucky so far. I bought BTC at under $2000 and have now sold it at $4100. I am sure that I have made some mistakes in the way that I have bought, stored and sold the BTC.

I now want to trade both long term and short term in BTC. I want to trade in minimum USD $10,000 blocks

Long Term What is the "best practice" processes to buy and sell BTC?

Where is the best place to buy BTC using USDs

Where is  the best place to store BTC using USDs. As a result of my limited research, security seems to be a major issue. I am prepared to buy a dedicated computer solely to store the BTCs if necessary

What is the best place to Sell BTC using USDs

if I became you I already invested 70% of my riches for bitcoin, by the way I bought bitcoin and left it up for several years to come.

[Landagert]

Avoid storing in an exchange unless you use the money for trading. If you have the private key then it is more secure. cold storage is more better, and not always connecting to the network is another - prevent from outside individual from trying to even hack your Bitcoin. Trezor, a Bitcoin physical wallet is also another point for security

https://trezor.io/

[Pakboy]

Before you invest your money, you should know the risky of the bitcoin investment. You must have a knowledge to the progress of the bitcoin. You can earn more money if you are knowledgeable person.

[BitPACK]

you can use trezor but safest way is paper wallet. but you have to be careful.

[Armstand]

Before you invest your money, you should know the risky of the bitcoin investment. You must have a knowledge to the progress of the bitcoin. You can earn more money if you are knowledgeable person.

Just when you learn it thru experience we can get the ideas and skills we needed to earn in trading , mostly when we get too excited in selling it we tend to see more opportunities the other time so better plan it accordingly.

[ethereumhunter]

Avoid storing in an exchange unless you use the money for trading. If you have the private key then it is more secure. cold storage is more better, and not always connecting to the network is another - prevent from outside individual from trying to even hack your Bitcoin. Trezor, a Bitcoin physical wallet is also another point for security

https://trezor.io/

trezor can be a good solution to safe our bitcoin for a long term but we need to put it on the safe place too. but if you want to save in software like bitcoin core or even in jaxx and mycelium, this could be a good too but always remember to keep the wallet for yourself and don't telling to other people about your bitcoin amount especially your private keys..

[FLoving]

Hello,

THIS IS A QUESTION FOR EXPERIENCED TRADERS IN BITCOIN

I am a novice in BTC but have been lucky so far. I bought BTC at under $2000 and have now sold it at $4100. I am sure that I have made some mistakes in the way that I have bought, stored and sold the BTC.

I now want to trade both long term and short term in BTC. I want to trade in minimum USD $10,000 blocks

Long Term What is the "best practice" processes to buy and sell BTC?

Where is the best place to buy BTC using USDs

Where is  the best place to store BTC using USDs. As a result of my limited research, security seems to be a major issue. I am prepared to buy a dedicated computer solely to store the BTCs if necessary

What is the best place to Sell BTC using USDs

if I became you I already invested 70% of my riches for bitcoin, by the way I bought bitcoin and left it up for several years to come.

That’s great, it means that you will be earning a lot of money in future from your today investments. Well I too have made around 60% investments in bitcoins and around 40% in physical assets of my total savings to make my family’s future safe and sound. This will be benefiting me a lot.

[bitcoin31]

Today price of bitcoin is 3800 dollars so if you want to buy bitcoin now you can do itm but invest only you can afford to lose . Bitcoin is good for longterm and for sure if you hold bitcoin for few years you can earn a lot of profit because maybe next month the price become 5k dollars and it will continue to increase again. You can store your bitcoin in coinbase they  base on Us dolllars and this wallet is very safe.

[rollsroyce]

Today price of bitcoin is 3800 dollars so if you want to buy bitcoin now you can do itm but invest only you can afford to lose . Bitcoin is good for longterm and for sure if you hold bitcoin for few years you can earn a lot of profit because maybe next month the price become 5k dollars and it will continue to increase again. You can store your bitcoin in coinbase they  base on Us dolllars and this wallet is very safe.

Coinbase has major security issues. Trading is difficult enough. Hackers stealing your Bitcoins on a daily basis is too much for me.

I have just finished reading the article in Fortune.com (Hacking Coinbase: The Great Bitcoin Bank Robbery)
http://fortune.com/2017/08/22/bitcoin-coinbase-hack/

Coinbase was successfully hacked 30 times in a month. That is an average of once a day.