How to start with cryptocurrencies?

[Jambalaya]

Good day all!
I am from Poland and after doing a lot of research regarding cryptocurrencies I decided it would be a good moment to dive into the subject. I said to myself: yeah man! let's buy! And then it dawned at me that I have no idea how to go about that. How to "start with bitcoins". The hell am I supposed to do? Let's say I buy one and then what? Could you please give me a hand good people? I suppose there are relevant threads on this forum that would explain all the basics to me and gave me a helping hand in starting my journey with crypto.

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[Bitcoin_Arena]

There are so many guides around the forum that will walk you through what you might be interested to learn. Make full use of the forum search button  
For example this post has a number of threads which will help you learn more about Bitcoin

• [GUIDES] on Bitcointalk. Index thread (until there is a dedicated subforum?)

As you start you new journey in cryptocurrencies, just have it at the back of your mind that where there is money, there are fraudsters/scammers/hackers/thieves so focus on;

1. Securing your assets once you have acquired them. Look for guides suggesting good open source wallets and how you can securely backup your recovery phrases or private keys
2. Being able to identify scams/ponzi schemes or fraudulent coin/token projects
3. Use reputable services like exchanges, avoid less popular once, most are scams. Read terms and conditions especially on KYC/AML policies
5. Look out for Copycat or phishing website
4. Learn how to trade and the different good trade practices to avoid making rookie mistakes

All such guides are around the forum. All you need to do is hit that search button.

[Oshosondy]

You want to go know about the trading and investment part of cryptocurrencies, you will need to first need to learn about trading in general. You can download binance exchange app, on it look for there guild, it will really help you. You will be able to know about future and margin trading, knowing about the trading types and many others.

There is an article here already by order types, it will also help you https://bitcointalk.org/index.php?topic=5267221.msg54948612#msg54948612

There are many exchanges you can use to trade but I will advice you to start with binance at first for trading, trading is very risky, you will need to be taking look at the crypto price, be careful and be patient and learn about it very well before trading at all. But if you want to invest and you have large amount of money to invest, it will be good to get yourself a hardware wallet for it to make your funds safe. But you can also use wallets like electrum and trust that are noncustodial as they provide you with private keys and be careful of scammers.

For bitcoin investing plan, check (SSS) - A Sane and Simple bitcoin Savings plan
.

[NeuroticFish]

If you want to buy and hold for long term you should read about wallets and about keeping securely your coins (and your private key/seed). Hardware wallets can be a simple and good choice too.
If you plan to buy smaller amount at a time you should read about network/transaction fee and also (!) about the withdrawal fee from exchanges (which covers the network fee to, but it's usually bigger than the network fee).

[tranthidung]

Welcome you to the forum and the crypto,

I have a few words for you:

• You can get more localized advice from your local board -- Polski
• Why KYC is extremely dangerous – and useless
• [General] Bitcoin Wallets - Which, what, why?. Basically, you need to have wallet to store your bitcoin.
• Custodial vs. Non Custodial Wallets - "Not your keys, not your coin" Explained. Non-custodial wallets should be prioritized because you can control your wallet, your transactions, fee rates, etc. Bitcoin Core and Electrum are good non-custodial wallets to use. Electrum is lighter than Bitcoin Core.
• How to Safely Download and Verify Electrum (You should verify wallets before use them. There are phishing wallets!)
• Newbies - Read before using exchanges or investing

* Always backup your private keys, seeds, use strong passwords, activate 2FA (2-factor authentication) for your accounts and remember to choose app for 2FA, not choose SMS code.

• [GUIDE] How to Create a Strong/Secure Password
• [BEWARE] Sim Port Attack

[BIT-BENDER]

I feel your excitement about crypto-coin, Bitcoin is exciting and also risky/complicated know this
+ buying/trading Bitcoin on social media may be a scam/risky
+ anonymous -stay as discreet/private as possible-
+ you can buy/invest-in Bitcoin and not trade -if you not armed/equipped with trading knowledge-

When I think of the term "investor" I generally don't think of people who actively trade something--those folks are traders, or speculators.  Investors are long-term holders IMO, but I guess that's just semantics.  Anyway, I could never be an active trader.  I've tried it with small amounts of crypto and in the stock market, and it's too nerve-wracking for my blood.

I do hold a little bit of bitcoin and don't plan on selling it any time soon, so I guess you could call me a hodler.  These crazy price swings don't really bother me since I've been around long enough to know that they're normal--but that doesn't mean I'm not hoping bitcoin doesn't crash down to $5k or lower.  The lower bitcoin goes, the harder it is for it to recover.

+ and this my personal tip to -NEWBIES-: lay low, anything you would be doing as a newbie should be humbly low -even if you can afford high-

[AhmadM]

If you love to read some nerds stuff then here are my recommended ebooks that good to learn about cryptocurrencies

[1] https://github.com/bitcoinbook/bitcoinbook - Mastering Bitcoin
[2] https://github.com/ethereumbook/ethereumbook - Mastering Ethereum

[Becky666]

Don't be carried away with the hypes in the market and choose to invest all your savings into cryptocurrency. The danger is: you may lose your investment(when you invest on altcoins without product backed), if not Bitcoin. Whenever you chose to invest on Bitcoin, ensure to hold your portfolio on a long-term.

Though trade has it bad and good side, it should be learn before venture into as it require skills. You can also consider good projects with established products for staking coins, though, this is much as trade as market volatility depends on their end results.

[Serious475]

I'm not a professional into the world of bitcoin but I think I give you some parts what you could do.

1. What coin you will make an investment?
If bitcoin this is a decentralized coin don't expect too much on bitcoin there are some peole having a misconceptions about bitcoin when you make an invest you can be a millionaire instantly.

The bitcoin is volatile unlike the other coins and fiat.

2. When is the right time to make investment?
Its up to you if you thinking this is the right time to make investment go buy, the same with sell if you think you already got profit sell it.

Be careful and don't be a dependent on the statement of the people which is saying they know the next market move.

3. How can I buy bitcoin?
It depends on your country. But some of them are using Coinbase, and binance.

4. Don't invest that you can't afford.
This is the common thing happens on trading.       

[Alucard1]

Good thing is that you joined this forum, you have made a good decision upon joining here, it will help you know more things about bitcoin just like me, there are many things that I haven't know about bitcoin before and I am thankful because this forum helps me to cope with those things, I know that there are still many things that I haven't know yet and I am also willing to learn here through some good posts or threads.

There are already good threads about bitcoin mentioned above, take time on reading those threads, it will help you a lot.

[Raflesia]

The right time for you to ask here this is a very useful forum, many contributions here, including those of you who want to start with cryptocurrency, so be wise and don't be influenced by hype coins if you can't take advantage of it.
I am sure that you here will receive a lot of broad insights about bitcoin in fact because here has been revealed with a complete thread about how cryptocurrency actually is so if you want to start and buy coins, decide the right one with bitcoin because you are a beginner in cryptocurrency and don't. choose a sembangan altcoin if you don't want to take big risks.

[CryptopreneurBrainboss]

Love the fact that you started with how you can get your hands on some bitcoin and not altcoins as most newbies like yourself think, since they feel the argue to get rich quick that such possibility is with altcoins. Even though in future you were to pick interest in acquiring some alts it won't matter much since you already got yourself the most important coin out there which is bitcoin. In regards to your questions, there isn't much to do (as most noobs think) which obviously discourage them from engaging in the technology.

First and foremost, you get yourself a recommended wallet (hardware wallet is perfect), set it up perfectly and obviously have backed up your private key, seed and other sensitive information, you're good to purchase your very first bitcoin based on your financial capabilities.

You can get the bitcoin from exchanges but the negative side to this is, you'll have to give up some personal information through KYC verifications to be able to use the advance feature of the exchange like fiat transaction etc. But If you have a trusted user that you can contact and will be able to trade with personally then that will be a perfect means to get your coins. You should note though that, 'it isn't about buying bitcoin but how to keep your bitcoin safe and secured from scammers that matters most'.

[jossiel]

Research about the local exchange in Poland and which is the most trusted, if there is. As you research, you can easily buy bitcoins through that local exchange and you can send the bitcoin you bought there on your wallet which could any of the following.

Electrum
Bitcoin Core
Wasabi wallet

[RapTarX]

The hell am I supposed to do? Let's say I buy one and then what?

Buy again, again and again. I'm joking, dude.
Well, I guess it's very simple question you asked. I believe you know what trading refers to. Buy and sell. Therefore, if you are un enough profit, you can sell or hold long time; as you want.
Nevertheless, I'm sharing some tips for you below.
1. Never invest more than you can afford to lose (The very first things you need to know.)
2. Use hardware wallet.
3. Learn what you are going to do before you do the work (Hackers may target you.)

[Slow death]

I am from Poland and after doing a lot of research regarding cryptocurrencies I decided it would be a good moment to dive into the subject.

are you sure you did adequate research? I mean did you at least take days in this research? because I will be honest with you:

People buy bitcoin to make a profit, because bitcoin is a very volatile asset:

example:



Source: https://coinmarketcap.com/currencies/bitcoin/

you can make money or lose money

How to "start with bitcoins".

are you sure you did some research? first thing obviously is to know what bitcoin is and how it works and why people buy bitcoin? I already gave you the answer: "because bitcoin is very volatile and this brings high returns for those who manage to have good strategy or hodl"

Hodl = you buy bitcoin for the price of $ 10,600 and keep it in your wallet for years until the price of bitcoin increases a lot by something like $ 30,000 for example

after you know it the next step you will have to choose the trusted website to buy bitcoin using your bank card (here you will have to worry about fees, because there are sites that charge a lot of fees) and the wallet (you will be required to know over private keys) reliable to keep your bitcoins

You can also do day trade, I explained the basics to make it easier for you to do research again

[Assface16678]

There is a lot of introduction first before you want to start into the cryptocurrency.

1. Are you going to support the bitcoin or the altcoins?
2. Which wallet you will?
3. What exchange?

Those are the common things you should need to apply first. Good thing you came up with our forum because you will know and learn something with the use of cryptocurrency.

If you already have your coins take care of it because there are evil people once they know you have crypto some of them have a motive to steal your money.

[AniviaBtc]

Don't be carried away with the hypes in the market and choose to invest all your savings into cryptocurrency. The danger is: you may lose your investment(when you invest on altcoins without product backed), if not Bitcoin. Whenever you chose to invest on Bitcoin, ensure to hold your portfolio on a long-term.

Cryptocurrency investments are risky especially that you need to deal with it in order to get the profit that you desire.

Learning about investment is not that hard once you spend time understanding it.

Many people said that you should start investing in bitcoin if you are a beginner and once you know how it works and move in the market, you can also invest in some altcoins. Bitcoin is volatile and its movement is not that stable, it can either go up and down so you need to invest also in other cryptocurrencies. Always remember that cryptocurrency investments are not that instant to have and earn profits.

[Dorodha]

It is better to start with crypto but there are a lot of scammers in crypto so first you have to learn and know about crypto. It will usually depend on your own what you want to do starting with investing in crypto is a good long-term investment and you need to keep your personal key password secure to keep your wallet safe. There are also many reliable places you can use binance in transactions without fear of being scammed.

[Husna QA]

-snip-

Have you read all the responses above? There are many responses and even links provided for you to learn.
Take the easiest way first, according to you.
Besides studying and asking questions in this forum, a little advice also learns about bitcoin through books because usually, the content is more structured.

[PhilEilhart]

For those who see cryptocurrencies such as bitcoin as the cash of long haul, it ought to be famous that a cash needs steadiness so that shippers and buyers can decide what a reasonable cost is for merchandise. Bitcoin and other cryptocurrencies have been anything but steady through much of their history. For case, whereas bitcoin exchanged at near to $20,000 in December 2017, its esteem at that point dropped to as moo as approximately $3,200 a year afterward. In September 2020, it was exchanging over $11,000.