My Bitcoin journey

[wiser]

What a great idea to chronicle your journey into the cryptocoin industry on this forum.

Since you're new I thought I'd mention that I've started a thread where I provide a fresh tip on navigating this field successfully every few days or so. It's probably going at a slower pace than where you're at, but you might find it helpful.

The invitation to check it out is open to everyone else on this thread, especially if you're new to cryptocoins and would like some guidance

[MR2O4]

What a great idea to chronicle your journey into the cryptocoin industry on this forum.

Since you're new I thought I'd mention that I've started a thread where I provide a fresh tip on navigating this field successfully every few days or so. It's probably going at a slower pace than where you're at, but you might find it helpful.

The invitation to check it out is open to everyone else on this thread, especially if you're new to cryptocoins and would like some guidance

Thanks, I'll check it out. I looks like I've already done the first few tips.

[MR2O4]

A "big moment today" my bitcoins have increased in value enough to cover the fees I paid to Coinbase!

[wiser]

A "big moment today" my bitcoins have increased in value enough to cover the fees I paid to Coinbase!

Congratulations! These are record high prices for Bitcoin. I wonder how long it's going to take to hit $9,000. Someone in my area was predicting Bitcoin would hit $10,000 before the end of the year, and now that seems quite doable.

[Dirkson]

Interesting topic, good look. I like your plan to invest only that count of money that you can allow to lose. Are you interesting in long-term investment or trading?
If you will choose first variant — just buy and HODL/ I think trading is too difficult for newbies, it's difficult even for expiriences BTC users.

[MR2O4]

Interesting topic, good look. I like your plan to invest only that count of money that you can allow to lose. Are you interesting in long-term investment or trading?
If you will choose first variant — just buy and HODL/ I think trading is too difficult for newbies, it's difficult even for expiriences BTC users.

I'm interested in mid-longterm investment, rather than trading. I am happy to have slightly lower returns and have a hands off approach.

[crypto-curious]

I agree with some of the comments above, definitely not safe to leave your coins online [online wallets, exchanges] best to have either a Hardware Ledger or keep a paper wallet just to be safe. Exchanges and online wallets are still pretty easily hackable and people have lost shit tons of money/coins...

[deadthings]

Coinbase is the basic start for everyone one (most of us) cause it is one of the most popular and easiest for newbies but after some time we need some more that's why we move forward.

[digimarketblockchain]

Please carefully store your master seed.

[MR2O4]

Please carefully store your master seed.

That is great advice!

So far I only have bitcoin in Coinbase, so I don't have the master seed for that. However, I have been setting up some other wallets and have been making hard copies of the master seeds.

[Julia_KA]

Coinbase is the basic start for everyone one (most of us) cause it is one of the most popular and easiest for newbies but after some time we need some more that's why we move forward.

Hi! What would you recommend as the next step forward after coinbase?

[normanbc]

After trying an online wallet, you must think on getting an offline hardware wallet. There are many advices on doing this to avoid putting your coins in risk and out of reach of hackers, scammers and typical thieves.

[MR2O4]

Coinbase is the basic start for everyone one (most of us) cause it is one of the most popular and easiest for newbies but after some time we need some more that's why we move forward.

Hi! What would you recommend as the next step forward after coinbase?

I've gone for a desktop wallet - Copay. It seems like you can integrate it with Coinbase to buy/sell coins, so that may be a good next step. Although I am keen to see what everyone else thinks.

[MR2O4]

Things have been fairly quiet on the bitcoin front for me over the last few weeks - it seemed like I beat the bus by a few days! I bought some more bitcoin as it passed $10,000, as it looked like things were really taking off. A few days it hit the value I'd said I would be getting out at, so I sold some bitcoin - in hindsight that was a mistake. However, I had set myself a fixed I will sell if it hits this value - 25% above what I bought it for, and I thought I'd better stick to that hard limit, expecting the value to plummet, so I could buy some more. It turns out I am a crap trader, as now I have money sat in the GBP wallet in Coinbase, and the only thing I can do with it is buy more bitcoin, but less than I sold. I have also been having fun with faucets, and am about halfway towards the minimum withdrawal level without fees on Coinpot, although I'm not sure I will carry on with that once I have emptied that wallet.

The next step for me to get away from Coinbase, due to the high costs, although GDAX seems like a good option - as I can move my coins from Coinbase without having to pay a fee. From there I should be able to move some of my bitcoin to my Copay wallet, again without a fee, as I understand it.

[MR2O4]

I can confirm that I was able to move bitcoins from my Coinbase wallet, via GDAX to the Copay wallet on my computer without any network fees! The transaction only seemed to take a few minutes, but I must admit I was slightly nervous in the time between my bitcoins leaving GDAX and arriving in Copay!

[Thara]

First of all, thank you for sharing your journey. As a newbie too I got so many valuable tips already.

You mentioned that Coinbase had some high fees but do you need to pay less fee now  yu have a desktop wallet? Or did you switch to another buying/selling site?

[MR2O4]

First of all, thank you for sharing your journey. As a newbie too I got so many valuable tips already.

You mentioned that Coinbase had some high fees but do you need to pay less fee now  yu have a desktop wallet? Or did you switch to another buying/selling site?

I have switched from Coinbase to GDAX.

[oseikuf44]

Starting with Blockchain.info for your wallet is the best bet for you. You control the private key other than an exchange. And if there is any Bitcoin Fork, you claim your few coins since you have access to the private key.

[glowing10]

First of all, thank you for sharing your journey. As a newbie too I got so many valuable tips already.

You mentioned that Coinbase had some high fees but do you need to pay less fee now  yu have a desktop wallet? Or did you switch to another buying/selling site?

At present same goes with the blockchain wallet too. their fees are sky high and also along with the fees you have to pay additional fees which goes to miner. And above that for days your transaction will remain unconfirmed. This is going crazy will need to check some other wallet now which have faster transaction done and lesser fees.

[xDarkcross]

Im still curious about things i have learn here in forums.. Is there any way or any how i can earn in newbie rank?