Brexit and bitcoins for a beginner

[Hector0790]

Hi all

I'm an Italian living in London.

When I moved to London I close all my € account and exchange everything in £.

Now whit the Brexit disaster I am once more investigating my possibilities for the future, and bitcoin (or other digital currencies) caught my attention.

I live in a shared flat, so I can't create a farm, but  I would like to start having a safe in bitcoin in case the pound falls down too much, and if it hasn't been always goo have some extra cash.

I have 2000£ pound to invest in this project.

Can someone please help me with some advice.

I'm starting absolutely from zero, I don't even have a wallet so far.

thank you.

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[pooya87]

~~
I have 2000£ pound to invest in this project.
Can someone please help me with some advice.
I'm starting absolutely from zero, I don't even have a wallet so far.
~~

because of these three i suggest you be super careful if you don't want to lose your money. first things that you have to do is to learn what bitcoin is and how it works, then you have to learn how to secure your coins by creating a safe bitcoin wallet. these two are the most important things to do before anything else.

then you have to understand that investing in bitcoin is risky and although you can make a good profit from it but it is still volatile and you may also lose money. so invest what you can afford to lose.

some references:
you can google any general question you may have like about wallets and stuff but you can read these:
https://bitcoin.org/en/getting-started
https://bitcoin.org/en/choose-your-wallet (for desktop wallet i suggest core or armory as full node or instead Electrum as an SPV wallet)
also see https://en.bitcoin.it/wiki/Paper_wallet

[merelcoin]

Everything pooya87 said was completely correct.

I just wanted to add a couple of things:
- you speak about a farm. Luckily you also realise it's nothing you can do in a flat. Even if you find a place where you can place miners, you have to know that mining nowadays is pretty hard. It's defenatly not free money, if you don't know what you're doing you won't be able to recuperate your investment in ASIC miners (it has much to do with the price, import taxes, electricity rate, market fluctuations,...)
- when chosing a wallet, please chose a safe one: a paper wallet or hardware wallet or at least a desktop wallet. Please stay away from online ones
- share your plan on this forum BEFORE executing it! To many people just think they have a plan, execute it, and when it goes wrong: come to this forum. At this point, it's usually to late for us to give good advice, and you'll lose a lot of money


I just wanted to say these things for a second time:
- bitcoin is volatile. It's a risky investment. You might gain (a lot of) FIAT, but you can also LOSE your money!!!

[Mauser]

Hi all

I'm an Italian living in London.

When I moved to London I close all my € account and exchange everything in £.

Now whit the Brexit disaster I am once more investigating my possibilities for the future, and bitcoin (or other digital currencies) caught my attention.

I live in a shared flat, so I can't create a farm, but  I would like to start having a safe in bitcoin in case the pound falls down too much, and if it hasn't been always goo have some extra cash.

I have 2000£ pound to invest in this project.

Can someone please help me with some advice.

I'm starting absolutely from zero, I don't even have a wallet so far.

thank you.

Despite Brexit the GBP/Bitcoin Price remained quite stable in the last weeks. With the halving of Bitcoins this months the Price is already high so I would not recommend you to Transfer all your funds at once. I would recommend buying 200-400GBP per week in Bitcoins of the next two months.

First of all you Need a Bitcoin wallet. Maybe try an online wallet like XAPO or Blockchain to get a first Feeling. Once you have 2000GBP in Bitcoins i would definitely go for an Desktop wallet as it is more secure.

[LoyceV]

I have 2000£ pound to invest in this project.

Can someone please help me with some advice.

I'm starting absolutely from zero, I don't even have a wallet so far.

Warren Buffett's Greatest Advice: Only Invest In Things You Understand

I suggest you start by buying 20£ in Bitcoins. Make some transactions, see how it works, make sure you create backups and secure your system, create cold storage, and learn how it works. Especially "change" can be tricky, as it is not intuitive in the way it works.
Once you know how it works, you can invest more.

[Totalreturnfund]

Hi all

I'm an Italian living in London.

When I moved to London I close all my € account and exchange everything in £.

Now whit the Brexit disaster I am once more investigating my possibilities for the future, and bitcoin (or other digital currencies) caught my attention.

I live in a shared flat, so I can't create a farm, but  I would like to start having a safe in bitcoin in case the pound falls down too much, and if it hasn't been always goo have some extra cash.

I have 2000£ pound to invest in this project.

Can someone please help me with some advice.

I'm starting absolutely from zero, I don't even have a wallet so far.

thank you.

You need an hedge strategy for cover risk of loss agains Euro , and need a speculation plan for try to obtain some profit from Brexit. I send you a PM 

[Nascor]

the pound hasn't lost much of its value, so you should be good

the UK is still one of the strongest economies in the world, so don't worry

[AT101ET]

I wouldn't call Brexit a disaster but from a European's perspective I can understand your concern.
As an Italian, weren't Italy thinking of leaving the EU too?
I guess that's a discussion for a different topic.
To address your main points, BTC mining won't be affordable. The difficulty vs reward for a small scale mining op won't pay off. Not to mention the fact that you're paying much higher electricity costs than those across the pond.
The first rule in investing is to play with money you can live with losing. If you invest the £2k then understand that the £2k can disappear overnight. If you're okay with that then proceed.
I'd say buy £1000 - £1500 worth of BTC and then use the other £500 to trade Alta. All profit you make with the alt trading can then be turned into BTC. If you want to risk more then buy less BTC and use more for trading Alta. Obviously do your research first. Trading alts is a lot of work and in order to be successful you're going to have to do a lot of reading and learning.

[adam1230]

GBP price will continue to fall. There are many risks on Brexit period. So its good to invest directly to bitcoin now. Price is good for investing.
By the end of year we will see over 5000$