Is it wise to deposit $ 100 in bitcoin before the united states vote?

[msdmsd]

Hello Everyone I'm new here. I did some research about cryptocurrency exchange. I know very little about this topic. What should I do What do you suggest?I thought of investing to bitcoin for $100 to start before vote in usa. What do you guys think?

[Lhaine]

Hello Everyone I'm new here. I did some research about cryptocurrency exchange. I know very little about this topic. What should I do What do you suggest?I thought of investing to bitcoin for $100 to start before vote in usa. What do you guys think?

What's the purpose of your buying?

You can buy it anytime you want , are you expectinv that the price will increase after the election in US ? that's why you want to buy Bitcoin and hoping to get profit after the election , did I understand it right?

Where exchange you actually planning to buy coinbase or other exchange ?

[jackg]

When's the vote? I think coinbase can confirm IDs pretty fast from experience (at coinbase.com). Not sure about anyone else and you might want to familiarise yourself with sending and receiving funds before you buy by testing out a faucet or something if they're fast enough to give a payout these days.

[msdmsd]

What's the purpose of your buying?

You can buy it anytime you want , are you expectinv that the price will increase after the election in US ? that's why you want to buy Bitcoin and hoping to get profit after the election , did I understand it right?

Where exchange you actually planning to buy coinbase or other exchange ?

You understand it right. This is gonna be my first time that's why I will buy to find out whats its gonna be happen. Election in US I think it will increase the prices.

[sheenshane]

If you will go in a centralized exchange it commonly asks KYC thing which possibly linked your personal information.

If you were going to ask me it is a wise decision, well, it's definitely good to invest in Bitcoin even though there's no presidential election happen.  But since then, there's a rumor that Bitcoin price will pump on that event.  There's nothing wrong if you will try and take risks since Bitcoin price is unpredictable and no one knows when it will pump or dump.

About the exchange, it might be good if you will find Bitcoin ATM near you, or just use this, Coin ATM Radar to locate those ATM machines. Or find a P2P exchange that didn't require KYC.  

This is gonna be my first time that's why I will buy to find out whats its gonna be happen.

Since it is your first time, choose a good wallet and never rely on a custodial Bitcoin wallet.  For now, Electrum is the best choice.

[aioc]

What's the purpose of your buying?

You can buy it anytime you want , are you expectinv that the price will increase after the election in US ? that's why you want to buy Bitcoin and hoping to get profit after the election , did I understand it right?

Where exchange you actually planning to buy coinbase or other exchange ?

You understand it right. This is gonna be my first time that's why I will buy to find out whats its gonna be happen. Election in US I think it will increase the prices.

Where did you read or who advice you that the price will go up so you better buy, are you buying because of the election not because Bitcoin is bringing something to this generation that will change how we deal and transact, I think you need to read a lot your motivation is very weak, you need to educate yourself first I don't even know if you know how to buy or how to get a wallet.

[BrewMaster]

Election in US I think it will increase the prices.

it is possible that some people get hyped up or maybe some people get scared and panic sell but US election won't have any big or long term effects on bitcoin price because it is a very irrelevant thing as far as bitcoin (the global decentralized currency) is concerned.

[boyptc]

Election in US I think it will increase the prices.

IMO. The election has no relevance to the price of bitcoin. Maybe the action of the presidents will do whether positive or negative about bitcoin but it's the after thing.

I should say that whatever the situation is if you think that the price is low or whenever you feel buying just buy.

See if Binance.us will do for you.

[erep]

I thought of investing to bitcoin for $100 to start before vote in usa. What do you guys think?

Whether the US election will have an impact on bitcoin's rise, I haven't read the news or maybe I missed something, but financial hardship during a pandemic would be something different and in my opinion if the US election won't make bitcoin grow.

[DrG]

Hello Everyone I'm new here. I did some research about cryptocurrency exchange. I know very little about this topic. What should I do What do you suggest?I thought of investing to bitcoin for $100 to start before vote in usa. What do you guys think?

The 1040 tax form has this question right underneath the name section "“At any time in 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?”

That pretty much sums up the government's position. They know it exists. They want you to know that they know that you read that question. You will have to reply "Yes" to that question if you're filing taxes, even if just buying $100. The election has other implications like possible quantitative easing by the next president, but the tax implications are what you should know most. Death and taxes...

[Insanerman]

The 1040 tax form has this question right underneath the name section "“At any time in 2020, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency?”

That pretty much sums up the government's position. They know it exists. They want you to know that they know that you read that question. You will have to reply "Yes" to that question if you're filing taxes, even if just buying $100. The election has other implications like possible quantitative easing by the next president, but the tax implications are what you should know most. Death and taxes...

Wait wait wait... whuuut? America do have tax questions with a decentralized monetary system? AFAIK even if you buy bitcoin, by any wallet (like coinbase), you would only require to submit your documents upon verification right? Would that really be traceable that this person bought, nor send, exchange, or receive, that amount of crypto? What if they answered 'No'? Was it included in the 1040 tax form and the USA's tax law?

I'm just shocked that this exists. There are so many people whom pay taxes as well, but aren't pretty much aware that their crypto activities is also included in a tax form. But nonetheless, I guess even if the OP bought bitcoin before or after, it wouldn't really matter as long as he/she is aware with the basics of crypto, more especially its volatility and risks.

[Bekuciwu9]

Hello Everyone I'm new here. I did some research about cryptocurrency exchange. I know very little about this topic. What should I do What do you suggest?I thought of investing to bitcoin for $100 to start before vote in usa. What do you guys think?

It is good to invest in BTC. Period. Whether it's before or after vote doesn't matter much if you plan to be in crypto longer period.Short term investing in BTC is tricky and for newbs it is practcily gambling.If it goes up the wont sell on time, and if it goes down they panick and sell with loss.

Be smart,buy BTC and put it somewhere safe and forget about it for some time.Do that every month and you will profit.

[NeuroticFish]

You understand it right. This is gonna be my first time that's why I will buy to find out whats its gonna be happen. Election in US I think it will increase the prices.

If you plan to keep for long period, yes, go ahead and buy.
If you only want to buy because some speculative expectations then:
1. There's a good chance those won't be met since it's not only US investing/speculating on Bitcoin and many may not care about US elections.
2. If you don't check everything you may end up pay more fees (deposit, withdrawal, trade, ..) than you actually earn, especially as you talk about only 100$ investment.

[joniboini]

I think you should know what you buy first. If not you'll get panicked easily and might sell in loss and don't have the patience to wait for the 'right' time to exit the market. There's no need to rush, especially since you're new to this space. Crypto is more volatile than stocks. You should research more into the assets you're interested to buy and not the exchanges.

[odolvlobo]

Hello Everyone I'm new here. I did some research about cryptocurrency exchange. I know very little about this topic. What should I do What do you suggest?I thought of investing to bitcoin for $100 to start before vote in usa. What do you guys think?

Is it wise? No. Gambling is not wise.

[akirasendo17]

Hello Everyone I'm new here. I did some research about cryptocurrency exchange. I know very little about this topic. What should I do What do you suggest?I thought of investing to bitcoin for $100 to start before vote in usa. What do you guys think?

it is hard to predict what will happen since as we all know bitcoin is volatile sometimes we see an upward trend, are you going to hold bitcoin or are you going to use it to purchase altcoins? What's the reason behind it? purchase at your own risk, remember to spend money you are willing to risk or lose, don't just spend money only because of the elections, there are a lot of things to consider to be careful.

[smyslov]

Hello Everyone I'm new here. I did some research about cryptocurrency exchange. I know very little about this topic. What should I do What do you suggest?I thought of investing to bitcoin for $100 to start before vote in usa. What do you guys think?

You should start buying Bitcoin when you are ready not because of some event, what with the election you did not give us information about buying and the election, since you already admitted that you know little about this topic, then don't buy yet learn about this technology first and everything on it, and you must learn how to invest what you can afford to lose, it seems you are going here in a wrong way.

[Fortify]

If you have to ask such a question then $100 is probably an important sum of money to you, in which case you should probably not be spending it on a speculative asset like Bitcoin. Nobody really knows what will happen after the vote - whichever way it turns out. You are probably better waiting until after the vote if you really did want to buy bitcoin as a long term investment, because $100 in bitcoin is unlikely to make you very much profit (especially after any exchange or banking fees) whatever the outcome.

[UserU]

Best is to wait for the election results. If Bitcoin tanks, then it's a great entry.

It hasn't seen some major corrections yet, so you might want to tread carefully.

[Becky666]

<snip> Election in US I think it will increase the prices.

The cryptocurrency market doesn't respect such; but things of such can negatively or positively affect the entire cryptocurrency market price. For anyone to say the price of Bitcoin will rise please don't believe such becasue the market is volatile and can't be determine by anyone except the market forces which are majorly news. Let hope the outcome from the US election come alongside with the needed positive news for a price spike. For now buy what you can hold for long-term purpose.