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Author Topic: Can you help a newbie with Bitcoin?  (Read 436 times)
perryswoman
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September 01, 2017, 07:31:35 PM
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Ok I downloaded coinbase. Now once I buy from coin base, how do I transfer it to a hardware wallet?? Can I transfer from hardware straight to bank when needed?
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clip123
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September 01, 2017, 08:04:44 PM
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I would suggest that if you are not faimliar with private key and public key then get familiar with it. Send the bitcoin to public key address (hardware address) from Coinbase.

When you need to cash it then send it back to Coinbase public key address (you should be able to get the address by clicking on deposit Bitcoin and it will create and link the address to your account) then you can sell and convert it to cash.

It seems like you are doing it for the first time to send like $5 or less back and forth. Once you get the better understanding of it then you can send more BTC.

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September 01, 2017, 08:11:51 PM
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Which hardware wallet exactly? Trezor and Ledger have a user-friendly interface that will probably make it easy for you to understand how to receive and spend coins.

You just need your public key (Bitcoin address) to receive coins. After buying coins from Coinbase, put your Bitcoin address there and request a withdraw to your wallet. The transaction will show up on your software, and after confirmed by the network, you will be able to send your Bitcoins to any other address you want.

You can't just "send Bitcoin straight to your bank account". You would need to deposit Bitcoins to Coinbase, by sending your coins to their Bitcoin address shown in your account, and then, you will be able to sell your Bitcoins to USD/EUR. After that, you can make a withdraw to your bank account.

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September 01, 2017, 09:03:01 PM
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According to Coinbase:
How do I send digital currency?

Buy bitcoins with cash from somebody near you: LocalBitcoins
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kkeylb
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September 02, 2017, 02:46:30 AM
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Please be careful since you are new to all of this. I recommend you put 95% of it into the user friendly coinbase vault first, then try playing around with the rest to figure out how it all works.

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September 02, 2017, 03:04:44 AM
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Ok I downloaded coinbase. Now once I buy from coin base, how do I transfer it to a hardware wallet?? Can I transfer from hardware straight to bank when needed?
You are on beggining of the road i see.
First of all, buy on ANY exchange some bitcoin. Coinbase isnt exactly real exchange.
Then transfer it to normal software wallet, any of them. Try to use it, send to ur diffirent address etc.
Now u will understand everything by now, by practice Smiley

bdog1234
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September 02, 2017, 06:32:25 AM
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As others said start small and do test transfers with low amounts. It is very possible to screw up and lose your money forever with no possibility of getting it back if you make a mistake. The technology is secure, don't worry about that, but user error can have huge consequences.
NorvsGanda
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September 03, 2017, 05:04:29 AM
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Hello guys can I ask something? I hope someone will respond I already read some information about bitcoin and I think most of them I don't understand like what in the meaning of ethereum and bittrex? Is it the exchange of value?

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September 03, 2017, 07:41:42 AM
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Hello guys can I ask something? I hope someone will respond I already read some information about bitcoin and I think most of them I don't understand like what in the meaning of ethereum and bittrex? Is it the exchange of value?

bittrex is a huge exchange where folks and lads can buy and sell cryto coins and try to earn or, usually, loose  money ))))))

back to your second question - ethereum  this is one of the cryptocoins, one of very popular now. it can be mined with vga cards or bought on exchange, say bittrex or cryptopia
there is also a site https://www.myetherwallet.com/ - where you may create a wallet for etherium

so dont't rush, take your time, see youtube to learn how to mine ZEC/ETH, how to send them to exchange, how to trade

and you'll be fine

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clip123
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September 28, 2017, 12:27:31 AM
 #10

If you feel comfortable with coinbase then go ahead and transfer money using ACH (its cheapest way to transfer but you have to wait few days for transfer to complete) then move the funds to Gdax (exchange owned by coinbase) to buy crypto without coinbase huge fees.

Buying from coinbase - you have to pay high fees
Buying from Gdax - fees are minimal

Transfers between coinbase and Gdax are same day and without any fees

I don't use coinbase or Gdax but this is what I have heard from other users.

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kissme09
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September 28, 2017, 02:47:35 AM
 #11

When you use coinbase, it will give you a URL address you store or store it because the address it wallet may change different but it only transfer to account is your account. If you want to transfer money to another wallet or exchange on the exchange floor, the floor will give you an address so you can get your address into your coinbase and send money to the address you need to transfer. . Simply so. Good luck Grin Grin

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