[suggestion] This is right or wrong.

[shouter]

I intend to buy a small amount of Bitcoins (equivalent to approximately 100 dolars)  and create a sale offer betting on a high price (for me try to make a profit ) .
I would like your opinion if this procedure is correct. If so, which exchange do you suggest me? If not, what suggestion can you give me?


I thought about buying (0.005 BTC *) and use it to try to get some profit, of course, very low profit, for me understand how exchange works.

intention**:
My intention was: to buy (*) at the price of 18000 dollars /1BTC (where I would pay for the 0.005 BTC ~ 90 dollars), after that, to create a sale offer (where on offer, to put Bitcoin price, for example, 20000 dollars / 1BTC ).

I do not want to make a fortune with this.
I am studying some things about investments, and I would just like to hears your opinion, if ( intention** above)  is correct or no.

Thanks
Emoclaw, phelbaby, CisColtz, newinbtc, boyptc, iamTom123

[1715617121]

1715617121

[Emoclaw]

There are a few things that you need to make clear here.
First of all, what exactly do you want to do? Are you looking to buy Bitcoin and sell it at a higher price to make profit?
You say that you want to buy Bitcoin and then send it to an exchange. Why don't you buy it from the exchange directly instead and avoid the huge transaction fees?

You should carefully investigate the market before making any decisions because you might end up with a loss. I'd simply just buy Bitcoin and hold for the long-term.

[phelbaby]

Buying and selling of bitcoin is and investment anyway but how are you going to achieve this,you will buy bitcoin worth $100 and sell more than the the prevalent price on the exchange or you will build your own exchange to see your $100 worth of bitcoin?

[CisColtz]

Better buy dogecoin with those 100$ and you can thank me later. I don't see a real reason to gamble with 100$ on a such situation like cryptos. Better think again , christmas is coming and you can do other things with that money. Also bitcoin will have it's correction so you just might lost.

[newinbtc]

you want to invest in bitcoins when price of bitcoin is near to 20,000 Usd yes you can invest if you can afford this amount if not you cant. I will suggest you to invest in altcoins or upcoming legit tokens , hold for few months Guaranteed income.
You can try localbitcoins websites to buy bitcoins from locally with your banking systems and many other payment options. with 100 usd you will get very less bitcoins about 0.005 Approx. Invest only if you can afford

If so, which exchange do you suggest me?
Localbitcoins

[boyptc]

I intend to buy a small amount of Bitcoins (equivalent to approximately 100 dolars)  and create a sale offer betting on a high price (for me try to make a profit ) .

Sale offer betting on a high price? Do you mean to say you want to bet with binary option? By just buying and holding you can even make a profit.

I would like your opinion if this procedure is correct. If so, which exchange do you suggest me? If not, what suggestion can you give me?

That procedure is gambling if there's a "betting on high price" but if you just used that as a form of saying that you just want to buy bitcoin and hold it then that $100 can be worth more than for the next days to come. There are popular exchanges out there like poloniex and bittrex.

[iamTom123]

I intend to buy a small amount of Bitcoins (equivalent to approximately 100 dollars)  and create a sale offer betting on a high price (for me try to make a profit ). I would like your opinion if this procedure is correct. If so, which exchange do you suggest me? If not, what suggestion can you give me? Thank you. Ps. Thanks Emoclaw for your suggestion!

We are all confused with what you are trying to do with that Bitcoin worth $100. Please expound more with what you mean by "create a sale offer betting on a high price (for me try to make a profit)" by providing us some details on that kind of a way to make some Bitcoin money. I am kinds thinking that you will be gambling or better yet starting something akin to the Bitcoin Futures offered by CME or CBOE. Anyway, I am wishing you all the luck on your project and I am sure that if you have some passion about then it can be your way to your dreams. With Bitcoin there are many ways to make money and as time goes on this can be more diversified. 

[wantjokull]

I intend to buy a small amount of Bitcoins (equivalent to approximately 100 dolars) and send them to an exchange and create a sale offer betting on a high price.
I would like your opinion if this procedure is correct. If so, which exchange do you suggest me? If not, what suggestion can you give me?

Thank you


This is right or wrong.

You don't need to create an sale sell offer the higher rate because you can really hold the BTC into your wallet which is far safer than any exchanger. I will tell you that why you should go like that way. The things is exchangers are really bad in maintaining their integrity and so many DDOS attacks or hacks can happen on them and you may loose control over your money or BTC. In this scenario wallet with private keys is the best option to hold for longer period. They re safe and you have all the control that is needed to extract your BTC even when that wallet is lost. 

Now why all these and why not the sell order? Because after you buy the 100 USD worth of BTC in todays date then you automatically set up the x value for the BTC you bought. Whenever the rates will start going up then you will that your X has become X+Y and so on. Once you are satisfied with the rates then you can just exchange the BTC with your wallet if it support exchange feature. Thats the safe way really.

[Turkish88]

He want to learn exchange work's, he dont want simply hold.
Strategy is simple buy lowe sell higher.
You can create order for sell and buy also.
Create some orders buy popcorn sit and watch
buy 1800 and sell 2000 it a huge, try for start buy 18500 sell 19000

[Ck1234]

Yeah, it's called day trading.  I think you're going to get eaten alive, bro.  You may be better off just buy and holding.  There are some real experts that can make money day trading, and by the looks of your question I would highly recommend you avoid it. 

Do some research.  There is plenty of information on YouTube tutorials about how to make money day trading cryptos.  Try following Chris Dunn he is a smart dude.  Check out some of his info here.




Man, just do yourself a favor and don't use money that you can't afford to lose.

[Kakmakr]

Just make sure to price in the exchange trading fees. <this differ for the different exchanges> If you going to cash out after you made a profit, then you should also consider the Capital Gain taxes and the Banking fees to withdraw your money.

It is better to have a long-term strategy, than trying to Day-trade with small quick trades. 

[illusioNiZt]

Well you won't really make much profit BTC is good for long term holding but looking at your post you don't want to hold your investment for long term? well it won't work because of the tax on Bitcoin transactions you should invest in alt-coins instead, the growth will be slow though unless you got lucky with the coin you invested in.

[shouter]

Thank you very much for the suggestions, I will follow yours advices and I will avoid the exchange. I will now withdraw the cents of Bitcoins that I have left in the exchange, and I will send them to my wallet. 

[Neuron_drone]

Well you won't really make much profit BTC is good for long term holding but looking at your post you don't want to hold your investment for long term? well it won't work because of the tax on Bitcoin transactions you should invest in alt-coins instead, the growth will be slow though unless you got lucky with the coin you invested in.

Isn't there supposed to be some fix for the tax issue coming up soon?

[Pursuer]

well you are practically trying to trade or maybe we can call this  day-trading although you are choosing a big range with a big profit instead.
what you need to know is that trading is not just buying at some arbitrary (low) price and then selling at some other arbitrary (high) price. if it was that simple then everyone would have been rich by now. the hard part is choosing those two prices.

for example you have to ask yourself why you chose "18000 dollars /1BTC" as your buy price. and why you chose "20000 dollars / 1BTC" as your sell price.
if you don't have convincing answers to these questions then you should not trade.

[khaled0111]

Let me explain: you wanted to buy bitcoin with 100 dollar (when the price was 18.000$) and sell it when the price becomes 20.000$!!
thus your profit will be 10$, right!!
but you forgot about fees, you will have to pay more than 20$
These days, investing in bitcoins is only profitable when you buy a big amount and invest for the long term.

[whmpblgg]

well you are practically trying to trade or maybe we can call this  day-trading although you are choosing a big range with a big profit instead.
what you need to know is that trading is not just buying at some arbitrary (low) price and then selling at some other arbitrary (high) price. if it was that simple then everyone would have been rich by now. the hard part is choosing those two prices.

for example you have to ask yourself why you chose "18000 dollars /1BTC" as your buy price. and why you chose "20000 dollars / 1BTC" as your sell price.
if you don't have convincing answers to these questions then you should not trade.

The market is always volatile, and most exchanges charge around 0.25%, and some are as high as 0.5% -1%, which is also a fee.

[JCLee]

Bitcoin is not a short-term investment and you need to be sirius with your work. My strategy is really simple, earning bitcoin ( buying, doing service, trading,...) and holding it till the price i want to sell. Basically, many bitcoin user have the same way of invest but different results; It is depend on your abilities and your investment's plans. In addition, When you are trading or exchanging, the most important thing you need to concern is the transaction and the fee, i think you can't earn any benefit with you "day-trading" in general. Bitcoin can make people rich or broke so becareful with your investment.