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Author Topic: Bitcoin Beginner Question / PLEASE HELP  (Read 196 times)
Dollygirl5531
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September 11, 2019, 07:08:02 PM
 #1

I was advised to download a wallet (Electrum), then to open an account with an "exchange" (Coinbase) but then another "expert" advised me to use Paxful for BOTH. He said I can purchase Bitcoin on Paxful AND use the wallet Paxful automatically provides. Can anyone confirm this for me please, thx !
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September 11, 2019, 07:16:29 PM
Merited by suchmoon (4)
 #2

Paxful is not a wallet its a P2P exchange and Coinbase is an exchange site.

I heard that Paxful is not safe to use there are many scammers out there. If you want to buy bitcoin you can buy directly to Coinbase.

Electrum is one of the recommended wallets because you have full control of your private keys, unlike Coinbase. If you want to store your Bitcoin safety choose Electrum wallet.
The right URL for Electrum wallet is this one https://electrum.org
Beware on fake electrum website make sure to use the URL above.

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September 11, 2019, 07:22:51 PM
 #3

I went the Paxful site & it states they provide a wallet, is their wallet different than Electrum 's wallet ? I'm only in need of $30-$40 in Bitcoin & am looking for the easiest way possible to do this one time transaction.

For a one time, single transaction - what do you suggest ? Thanks so much for your time & help !
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September 11, 2019, 07:57:17 PM
 #4

Your first expert has given you the best advice and its better to follow his guideline as a bitcoin beginner. Electrum is the most secure wallet and on the other hand you can use Coinbase as a trusted exchange. Both of them are best on their service which you will understand after starting to use them.

You can use below links to open your Electrum wallet and Coinbase account;

1. https://electrum.org
2. https://www.coinbase.com

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September 11, 2019, 08:05:00 PM
Merited by Jet Cash (2)
 #5

I went the Paxful site & it states they provide a wallet, is their wallet different than Electrum 's wallet ? I'm only in need of $30-$40 in Bitcoin & am looking for the easiest way possible to do this one time transaction.

For a one time, single transaction - what do you suggest ? Thanks so much for your time & help !

If you are buying in Coinbase that should be enough, you get a wallet there as well and can send funds from there directly to another bitcoin wallet. Same thing for other exchanges.

Make your own wallet if you plan to receive and send bitcoins in the future, for that Electrum is good, but you need to inform yourself first on Do's and don't s when handling your very own bitcoin wallet.

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September 11, 2019, 08:30:38 PM
 #6

~snip~

There are many reasons why I don't recommend you to use Paxful even it is just a small amount.

Check these posts below:

- SCAM!!! PAXFUL.COM Horrible Scams Site!!
- Paxful scamming with fake fees
- Do not use PAXFUL it is a Scammer site.

And many posts here on the forum that there are many scammers on Paxful so I don't recommend it to use.

Coinbase is fine you can use that for a small amount.
What payment option you are planning to use to buy BTC? Debit/credit card or bank account? If you are planning to use this they require to verify your account first with ID and selfie before you can buy with card or bank account.

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September 11, 2019, 08:35:22 PM
Merited by suchmoon (4)
 #7

I was advised to download a wallet (Electrum), then to open an account with an "exchange" (Coinbase) but then another "expert" advised me to use Paxful for BOTH. He said I can purchase Bitcoin on Paxful AND use the wallet Paxful automatically provides. Can anyone confirm this for me please, thx !

I'm only in need of $30-$40 in Bitcoin & am looking for the easiest way possible to do this one time transaction.

For a one time, single transaction - what do you suggest ? Thanks so much for your time & help !

Both experts are giving you accurate advice for your needs, and in accordance to their preferences.  I don't use Paxful, but I reckon it's decent place to buy crypto, but like BitMaxz said it can be risky.  

You're likely to get a better exchange rate from Coinbase, and much less risk.  They are highly reputed exchange, and the one I use most.

As for the "wallets," both Paxful and Coinbase offer what are called "web wallets."  The wallet is part of their web services, and although you can send from, and receive currency to web wallets, they do not give you access to the private keys on which your funds are stored.  For a one-time transaction this shouldn't be a concern.

Electrum is a "desk-top wallet" software that runs on your personal computer.  It's one of (if not the) most popular of all desk-top wallet applications because it's very safe, robust, and gives the user ultimate control of their funds and private keys.  If you are going to start using bitcoin on a regular basis it's worth taking the time to learn to use Electrum safely. 


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September 11, 2019, 09:04:20 PM
 #8

Don't just complicate, create a blockchain wallet and go for a buying of bitcoin through our forum. This is the best choice, because you are not planned for long term usage as well the transaction amount is less than $50. Maybe once after making a transaction you'll get a better idea about the wallet and the possibilities of buying bitcoin through other ways.

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September 11, 2019, 09:14:08 PM
 #9

I went the Paxful site & it states they provide a wallet, is their wallet different than Electrum 's wallet ? I'm only in need of $30-$40 in Bitcoin & am looking for the easiest way possible to do this one time transaction.

For a one time, single transaction - what do you suggest ? Thanks so much for your time & help !

If you are buying in Coinbase that should be enough, you get a wallet there as well and can send funds from there directly to another bitcoin wallet. Same thing for other exchanges.

Make your own wallet if you plan to receive and send bitcoins in the future, for that Electrum is good, but you need to inform yourself first on Do's and don't s when handling your very own bitcoin wallet.

Dollygirl5531 needs to complete one BTC transaction, but some experts suggested incredibly difficult ways to do this, and they also recommended using a fraudulent Paxful exchange. I'm shocked. Will scammers ever stop mocking people?
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September 11, 2019, 09:17:10 PM
 #10

THANK YOU EVERYONE SO MUCH !!!
I'm going to use all of your suggestions. All of you agree that getting an Electrum Wallet is best, so I'll use that.
Do all of you agree that Coinbase is where I should make the purchase ? Or do any of you recommend another site, maybe an easier, more simple one ?

I was also "advised" NOT to use Coinbase since I'm a 1st timer & only need to make a one time transaction. I was told Coinbase isn't a good place for a beginner or a one time user.
If any of you great people think I should another site besides Coinbase, please advise. I'm looking for the easiest, but safe (as you all noted) as well.
I'm obviously not looking to become an "expert" & if I decide to use Bitcoin more, down the road I'll be certain to come back here for your advice !

Again thank you ALL, so very much - all the reading, research & opinions I've received elsewhere has had my brain exploding. I SURE wish I came here 1st, all of you are very well versed & have made me MUCH LESS CONFUSED !
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September 11, 2019, 09:24:17 PM
Last edit: September 11, 2019, 10:28:28 PM by Dollygirl5531
 #11

I just read Ayrianorea's post & am wondering how to buy Bitcoin through your forum ? I'm looking for as uncomplicated as possible.
A "block chain wallet", is there a specific place to go for that also ?

*** ATTN: AYRIANOREA OR OTHER EXPERTS THAT REPLIED TO ME ***

I just tried to PM Ayrianorea but doesn't allow msgs from newbies, can anyone help with those "uncomplicated" suggestions: where to go for a "block chain wallet" & how to purchase Bitcoin from this forum ??

I'd APPRECIATE ANY HELP with the above, thanks again !!!
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September 11, 2019, 10:14:44 PM
 #12

*** ATTN: AYIRANOREA ****
I just tried to send you a pm but you don't accept msgs from newbies. I was just trying to find out about your "uncomplicated" advice: where would I go to set up a "block chain wallet" & how do I buy Bitcoin from this forum ?
That sounds easy & just what I need for now. Thank you !!!
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September 11, 2019, 11:36:26 PM
 #13

I was just trying to find out about your "uncomplicated" advice: where would I go to set up a "block chain wallet" & how do I buy Bitcoin from this forum ?
That sounds easy & just what I need for now. Thank you !!!
the site is https://www.blockchain.com/wallet, you can create a bitcoin wallet there
and check Currency exchange subforum to buy bitcoin from other members (risk involved)
each method has certain risks and advantages, some has been explained above
if you just want to do this once, why not try some bitcoin payment service

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September 11, 2019, 11:42:17 PM
 #14

*** ATTN: AYIRANOREA ****
I just tried to send you a pm but you don't accept msgs from newbies. I was just trying to find out about your "uncomplicated" advice: where would I go to set up a "block chain wallet" & how do I buy Bitcoin from this forum ?
That sounds easy & just what I need for now. Thank you !!!

Blockchain is another web wallet but I don't recommend it to use.

If you want a wallet which is easy to handle you can install mycelium or electrum on the phone just go to play store and use those terms to find them.
Just make sure to save your seed phrase if you are planning to use the wallet in the future.


You can buy bitcoins here P2P you can find the section from here https://bitcointalk.org/index.php?board=53.0 (Already suggested above)

Make your own thread there and make sure to don't deal with low-rank accounts higher Sr.member above are more trusted than lower accounts. You should use Escrow you can find trusted escrow from this list https://bitcointalk.org/index.php?topic=276897.0

If you don't know what is escrow the short term it is "a middle man" and it's always used here on the forum to avoid scammers.

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September 12, 2019, 02:06:03 AM
Last edit: September 25, 2019, 07:25:09 AM by tranthidung
Merited by Coolcryptovator (2)
 #15

Electrum wallet - Update safely and avoid phishing wallets?
Newbies - Read before using exchanges or investing
In case you decide to choose Electrum wallet, you should verify GPG signatures after installing your wallet as well as anytime you download newest version to update your wallet.
GPG signatures are a proof that distributed files have been signed by the owner of the signing key. For example, if this website was compromised and the original Electrum files had been replaced, signature verification would fail, because the attacker would not be able to create valid signatures. (Note that an attacker would be able to create valid hashes, this is why we do not publish hashes of our binaries here, it does not bring any security).

In order to be able to verify GPG signatures, you need to import the public key of the signer. Electrum binaries are signed with ThomasV's public key. On Linux, you can import that key using the following command: gpg --import ThomasV.asc. Here are tutorials for Windows and MacOS. When you import a key, you should check its fingerprint using independent sources, such as here, or use the Web of Trust.
It is always the best to remember the address of Electrum site (or whatever site of wallets/ exchanges you use to store your huge funds). Each time when you want to check wallet versions or download newest version to upgrade, you must get it on official site, that you should manually type in browser address bar. BTW, using exchanges to store your crypto funds is always bad ideas, because most of exchanges or platforms don't give your seeds of your wallets. In case they give you seeds, it is still risky because there are at least you and those platforms have your seeds, and you have to trust them to protect your seeds and your funds. If those platforms do scam exits or there are abuse by their staffs (that you are unable to control) on customer data, your funds will be lost.

Bookmark is good, but there is still tampering risks on bookmark in case your computer already compromised.
In any case, verify GPG signatures will help you to know that the wallet version you download is a real Electrum wallet or fake one, and will help you to avoid fund losses.

As you can see, there are many warning threads on threats that target Electrum wallet.
⚠⚠️⚠~Beware on active phishing Electrum websites~⚠⚠️⚠ (Collection list updated)
Warning: There is an ongoing phishing attack against Electrum users
If you care about security for your funds, you should spend a few time to pratice those phishing quizzies.
[LEARN] Phishing Quizzes - Beginners & Experts

Next time, whenever you make a threat, you should name your thread (topic) title better. If you care about more help from others for the thread, you also should rename its title too. This board is for Beginners & help, so the current title is unnecessary. Additionally, no one knows what you want to ask if they simply look at the title.
Please read more guide on topic title
Topic title style guide
Make your topic title, posts more attractive




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Coolcryptovator
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September 12, 2019, 02:19:30 AM
 #16

There various suggestion has been given by other members, you might follow them. My personal suggestion is, use electrum or bitcoin core wallet for store your bitcoin. So you will have full control of your funds. And for buy bitcoin you might choose this forum and I think it will be best choice. You can make thread that board as suggested above or you might make post on your local board. But don't forget to use escrow if seller is not trusted enough. I think this would be best solution for beginner like you

Dollygirl5531
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September 12, 2019, 10:39:37 PM
 #17

Thank you EVERYONE for all your time & help - I really appreciate it ! I've read thru all of your suggestions & will actually go to each t see which is easiest & the least complicated.

I'll be back if I need more help, as this IS DEFINITELY THE PLACE TO GO ! I'm so glad I found all of you ! I sure hope I can get this done quickly & painlessly.

Thanks again !
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September 13, 2019, 04:31:38 AM
 #18

Do all of you agree that Coinbase is where I should make the purchase ? Or do any of you recommend another site, maybe an easier, more simple one ?

I was also "advised" NOT to use Coinbase since I'm a 1st timer & only need to make a one time transaction. I was told Coinbase isn't a good place for a beginner or a one time user.

where you go to purchase bitcoin is mostly opinion based, some people don't "like" coinbase, some others like it. it is up to you to decide whether their services and ToS is something you could live with or not. for example in my opinion Coinbase is an excellent way for beginners to start using bitcoin because it simplifies a lot of things for them.
as for storage, as it was mentioned a wallet that you control the keys should be your choice. also look into cold storage: https://en.bitcoin.it/wiki/Cold_storage

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September 14, 2019, 01:26:06 AM
 #19

Coinbase is a popular crypto exchange website, paxful supports lots of wallets but be very careful while using it, as it has been observed to have plenty of scammers
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September 19, 2019, 10:47:37 PM
 #20

It's always advisable to use offline wallets which gives you control of your private key but Coinbase is also a good wallet if you decide to go for an online wallet.
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