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Author Topic: Im New to bitcoins , havea few questions  (Read 687 times)
RanQe
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September 25, 2013, 07:50:05 PM
 #1

got a few questions, hope someone can answer me

1,which is the best exchange for btc ? (lowest fee , reliable .......)

2,what is the best way to store btc?  should i use multibit?

3,If i made a payment to my friend, how long it takes for him to receive the btc i sent ?


Thank you
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DannyHamilton
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September 25, 2013, 07:53:32 PM
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got a few questions, hope someone can answer me

1,which is the best exchange for btc ? (lowest fee , reliable .......)

That depends on where you are located, what methods of money transfer you are willing to use, and how much those methods cost you.

You might want to look at localbitcoins.com

2,what is the best way to store btc?  should i use multibit?

Define "best". Do you mean easiest? Safest? Least resources? Most mobile? etc?

3,If i made a payment to my friend, how long it takes for him to receive the btc i sent ?

That depends on what wallet he is using.  Some wallets will show the transaction as received within a second or two.  Others won't show it until there are 6 confirmations (possibly an hour or two).

Gladdy
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September 25, 2013, 07:58:32 PM
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you just wan to store and not invest?
monbux
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September 25, 2013, 08:41:05 PM
 #4

got a few questions, hope someone can answer me

1,which is the best exchange for btc ? (lowest fee , reliable .......)

2,what is the best way to store btc?  should i use multibit?

3,If i made a payment to my friend, how long it takes for him to receive the btc i sent ?


Thank you

1. All exchangers have their pros and cons.  I like using btc-e, I just ignore the chatbox.

2. Why do you want to store bitcoins in the first place?  They are supposed to be used as a currency, not an artifact :/

3. Depends on the miner fee you pay.  Could be a few minutes to confirm, could be many days.  Also depends on the current miners out there, how fast they are finding blocks.

Methodise
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September 25, 2013, 10:47:33 PM
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A couple of comments here seem to suggest there are readily available, bitcoin denominated investments. Please, do enlighten me in that respect.

There's nothing wrong with hoarding cryptos as an investment. It seems sensible to me, at these prices. But a hoarder can also simultaneously spend and replenish their stocks..
nobbynobbynoob
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September 25, 2013, 10:54:24 PM
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Welcome.

Yes, there are numerous exchanges around; do thy research. For fiat to bitcoin worldwide, localbitcoins.com is handy and you don't have to do silly AML crapola there. There are numerous good crypto-only (or practically crypto-only) exchanges operating, e.g. BTC-e, mcxNOW, Cryptsy, Vircurex...

As for "hoarding", well, that's just a derogatory term for saving. Bitcoin is a disinflationary currency, so "hoard" all you like. If you take your 'coin off the market, so to speak, the rest of the economy can tick along quite well since BTC1 consists of 100 million satoshi. It's all good. Smiley

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qwertyGuy
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September 25, 2013, 10:56:18 PM
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3,If i made a payment to my friend, how long it takes for him to receive the btc i sent ?


Almost immediately, I believe your friend will be confident with 0 confirmation transaction. If not friend then who  Cheesy
HyperBeam
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September 25, 2013, 11:06:17 PM
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Bitcoins are sent almost immediately.
Methodise
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September 25, 2013, 11:11:48 PM
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As for "hoarding", well, that's just a derogatory term for saving.

+1
nahtnam
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September 26, 2013, 05:05:27 AM
 #10

Imo it's coinbase...

Jennifer Smith
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September 26, 2013, 05:57:25 AM
 #11

I have never had any issues with BTC-e. I also agree with what others are saying: if you buy them locally, you can sometimes score a better deal. Once, someone sold me bitcoins at 20% below spot, and the price was relatively stable. Good luck!
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September 26, 2013, 06:31:27 AM
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got a few questions, hope someone can answer me

1,which is the best exchange for btc ? (lowest fee , reliable .......)

2,what is the best way to store btc?  should i use multibit?

3,If i made a payment to my friend, how long it takes for him to receive the btc i sent ?


Thank you


It depends what country you reside in. Mt Gox is always good.
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September 26, 2013, 03:16:58 PM
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Armory looks good for storing some coins. For use on mobile there are lots of apps, most of the time it seems personal preference but I use blockchain.info for Android. More information here: How to store your bitcoins

Buying bitcoins can depend on where you are. Also check out localbitcoins or some local meetups... there you can chat to some experienced people.
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September 26, 2013, 03:20:53 PM
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great to see you here and welcome to the big house !

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September 26, 2013, 04:04:21 PM
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3,If i made a payment to my friend, how long it takes for him to receive the btc i sent ?


Almost immediately, I believe your friend will be confident with 0 confirmation transaction. If not friend then who  Cheesy

Your friend will know in few seconds that you sent him BTC. (This is fast as email.) But he will be able to spend them only after several confirmations (that depends on his software). Generally 10-15 minutes should be enough. After 6 confirmations (should be cca 1 hour) the funds are considered "safely transfered even for large sums".
DannyHamilton
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September 26, 2013, 04:37:07 PM
 #16

- snip -
 he will be able to spend them only after several confirmations (that depends on his software).
- snip -

Emphasis added, as I said earlier:

- snip -
That depends on what wallet he is using.  Some wallets will show the transaction as received within a second or two
- snip -

Note that some wallets support the possibility to spend the bitcoins even while they have 0 confirmations (I personally think this is a very bad idea, but it can be done).

MAbtc
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September 26, 2013, 05:37:25 PM
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BTC-E.

For cold storage, I like paper wallets. For online, I use inputs.io (see signature).
CEG5952
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Buy and sell bitcoins,


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September 26, 2013, 05:58:25 PM
 #18

one more vote for BTC-E! i use Cryptsy for some altcoins too.

RanQe
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September 26, 2013, 06:45:23 PM
 #19

thank you guys ,

just one more question ,

how do i store my btc on my usb drive? Do i need to download btc wallets first ?

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