Bitcoin investment

[estheblessed]

Hi Guys,

I wanted to invest a bit of money (£1000 max at the minute until I understand a bit more) in crypto currency - mainly bitcoin.

I am a complete newbie so would appreciate some advice on the following:

1) When is the time to invest? I can see today that Bitcoin is up 2.5%. Is it best to wait for a big drop or just get onboard now?
2) If I wanted to put 80% into bitcoin then 20% into something else - what would you recommend?

I am using coinbase. Thanks for your time.

[1715599014]

1715599014

[1715599014]

1715599014

[Charles-Tim]

To invest (hodl) you will need to move your bitcoin into a noncustodial wallet, hardware wallet like trezor preferably. With that, you will have a seed phrase and be able to control your coins yourself with private key generated. The seed phrase needs to be protected offline off-phone but well written on paper and triplicate into three different locations. Web and custodial wallets are not recommended for holding.

For the right time to invest, all I can comment is that bitcoin is a deflationary asset, but you need to take proper look into bitcoin price history and analyze and learn what time is best. No one will tell you the best time to invest but yourself. Also, about 80% bitcoin and 20% altcoins, you also need to analyze the crypto market and decide yourself how you want your portfolio to be and never invest on shitcoins which you can think have low price, that the price will increase, the price can become lower and such coins can later beccome dead, but the reason I will advice you not to invest in such coins is because of high volatility and low trading volume.

What I can just advice is to never leave your coins on custodial wallets and also on web wallets, offline wallets are recommended for holding. Also, not to invest on shitcoins are they have high volatility and low marketcap.

[mk4]

Do dollar-cost averaging[1] instead. Instead of making 1 big buy, you spread out the purchases for weeks or months. Just make to strictly follow it, without fomo buying and panic selling.

Also, not your keys, not your bitcoin[2]. So after every purchase, make sure to withdraw the funds from Coinbase to a non-custodial wallet.

As for the "something else part", while I personally prefer bitcoin only for the long term, you do you.

[1] https://dcabtc.com/
[2] https://notyourkeys.org/

[estheblessed]

Thanks both ... and what if I dont use a non-custodial wallet? Or leave it in coinbase?

Is coinbase just the place where I buy the coin(s)?

[Charles-Tim]

what if I dont use a non-custodial wallet? Or leave it in coinbase?

It depends on what you want, the weakest wallet are web wallets, coinbase is a web wallet. Although, said to be safe and secure which is not still recommended by it's design, but it is an API wallet which means you do not have private keys to your coins, this means if anything happens, your cryptocurrencies stored on it can be controlled by the coinbase company, they can freeze your account, you will not have the full control but them because you do not have the private key to your coins, they have it.

Is coinbase just the place where I buy the coin(s)?

Recommendable to just use it for buying and send to your noncustodial wallet, preferably hardware wallet.

[stomachgrowls]

1) When is the time to invest? I can see today that Bitcoin is up 2.5%. Is it best to wait for a big drop or just get onboard now?
2) If I wanted to put 80% into bitcoin then 20% into something else - what would you recommend?

1. Depends on what you do intent to do neither you do like to do active trades or simply would just hold for long term.If you do choose long term hodl then buying on any price point wouldnt be an issue but if you do talk
    about on scalping out small percentage profits then you would need to find the most possible bottom price or pullbacks and this is where trading knowledge and skills will vary into each and everyone.
   Not all would have the same skills and only the best ones could really able to make profitable.

2. Its a nice allocation when putting up 80% of your portforlion.If you do consider on giving out 20% on alts then choose on one of the top rankings that is on
   rank 2-20 or even lower depending into your likes and decisions.

[palle11]

About the time to invest which is one part of Op's question, it is at the bear times so that price don't start appreciating while you still trying to make up your mind. Bitcoin price don't wait for procrastination. But the issue about it is that nobody knows when the bull will come back.

[MiF]

Hi Guys,

I wanted to invest a bit of money (£1000 max at the minute until I understand a bit more) in crypto currency - mainly bitcoin.

I am a complete newbie so would appreciate some advice on the following:

1) When is the time to invest? I can see today that Bitcoin is up 2.5%. Is it best to wait for a big drop or just get onboard now?
2) If I wanted to put 80% into bitcoin then 20% into something else - what would you recommend?

I am using coinbase. Thanks for your time.

For now, the best options is to wait for the biggest drop mate, and maybe you should at least find something else on binance aside from bitcoin while it's not yet going down. I would suggest 70% budget for btc by time massive corrections commences, then 30% of that goes to other potential coins like reef or xrp which got the highest potential to grow.

[chikading2016]

Hi Guys,

I wanted to invest a bit of money (£1000 max at the minute until I understand a bit more) in crypto currency - mainly bitcoin.

I am a complete newbie so would appreciate some advice on the following:

1) When is the time to invest? I can see today that Bitcoin is up 2.5%. Is it best to wait for a big drop or just get onboard now?
2) If I wanted to put 80% into bitcoin then 20% into something else - what would you recommend?

I am using coinbase. Thanks for your time.

I think you need to wait for the dip. Investing in bitcoin this time of bull market is very risky, but it is always depend on you because i see that the bitcoin this time is still rising even if it it now in a very high price. I suggest you to prefer on some altcoin that is promising  whike waiting for the bitcoin dip, because there are so many altcoin that is now rising example xrp,doge,etc,.

[OcTradism]

1) When is the time to invest? I can see today that Bitcoin is up 2.5%. Is it best to wait for a big drop or just get onboard now?

Any time bitcoin has a correction around -15%, you can buy it up. Price can fall deeper than -15% but soon it will rally well. Note that I can not give you any guarantee that you will get profit 100% when you buy dips like that. The market is unpredictable, no one can. But bitcoin has a bright future to rise more in value as its halving in block rewards each 4 years, its fixed total supply less than 20 millions, its lost amount of bitcoin and more importantly bigger adoption is coming.

You missed a great price to buy a dip 3 days ago and if you don't want to join now and want to join at lower price, you can wait for price about $41,000.

2) If I wanted to put 80% into bitcoin then 20% into something else - what would you recommend?

Good with this allocation: 80% into bitcoin and 20% rest into altcoins (something else means altcoins).

- DASH: an old altcoin, big communities, big use cases in many nations.
- XMR: privacy coins is the future and you must be bravery to ignore drama.

[maxreish]

1) When is the time to invest? I can see today that Bitcoin is up 2.5%. Is it best to wait for a big drop or just get onboard now?

If your goal is to buy bitcoin and go for a long term investment, you can actually buy now and make a goal profit. Since this is a risky step, others are afraid they might fall because theyve seen btc from the dip and wanted to wait that happen again before buying again. But it is hard to wait for the price of it as 10k usd before, so if you wanted to atleast take a risk. Find a good entry of buying by checking some technical analysis and go for a long term trade.

2) If I wanted to put 80% into bitcoin then 20% into something else - what would you recommend?

I always suggest eth, ltc and other defi coins that offers  a good platform. But you can consider other coins too that actually been progressing well recently as it is always good to put many eggs in the basket to diversify your investments.

[mk4]

Thanks both ... and what if I dont use a non-custodial wallet? Or leave it in coinbase?

Though it's heavily not recommended, you can do that if that's what you prefer.

..if you want to be a part of history, that is; a really BAD side of history: https://cryptosec.info/exchange-hacks

Is coinbase just the place where I buy the coin(s)?

Yes.

[maydna]

Hi Guys,

I wanted to invest a bit of money (£1000 max at the minute until I understand a bit more) in crypto currency - mainly bitcoin.

I am a complete newbie so would appreciate some advice on the following:

1) When is the time to invest? I can see today that Bitcoin is up 2.5%. Is it best to wait for a big drop or just get onboard now?
2) If I wanted to put 80% into bitcoin then 20% into something else - what would you recommend?

I am using coinbase. Thanks for your time.

I don't recommend you to use Coinbase, but you can use Binance because that site allows you to skip the KYC, which is the important thing that we should be careful about by sending the document to any third party.

You can use £250 as a start while you can learn more about trading or investment. If you want just to have an investment, you can buy bitcoin at any price you want, but it will recommend if you can wait for a while until the price is down. The price now is back to $49k-$50k, so I guess you need to wait for a while and don't rush to buy bitcoin.

You can invest 80% in bitcoin and 20% in ethereum or 20% for 2-3 coins at the same time. But you need to be careful because the altcoin is following bitcoin price movements.

[Sebas.tian]

Hi Guys,

I wanted to invest a bit of money (£1000 max at the minute until I understand a bit more) in crypto currency - mainly bitcoin.

I am a complete newbie so would appreciate some advice on the following:

1) When is the time to invest?

Invest now so that you can get so much profit from your investment. Now that bitcoin price is still increasing in the market that is making many traders think it will soon dump, that no one should invest on bitcoin because bitcoin started pumping last year.

Invest when the price of bitcoin decreased in the market, it will help you to make a good profit from your investment.  Since this year is the year of bitcoin anytime you invest on bitcoin you must surely achieve huge profit from your investment.

[adaseb]

Hi Guys,

I wanted to invest a bit of money (£1000 max at the minute until I understand a bit more) in crypto currency - mainly bitcoin.

I am a complete newbie so would appreciate some advice on the following:

1) When is the time to invest? I can see today that Bitcoin is up 2.5%. Is it best to wait for a big drop or just get onboard now?
2) If I wanted to put 80% into bitcoin then 20% into something else - what would you recommend?

I am using coinbase. Thanks for your time.

I don't recommend you to use Coinbase, but you can use Binance because that site allows you to skip the KYC, which is the important thing that we should be careful about by sending the document to any third party.

You can use £250 as a start while you can learn more about trading or investment. If you want just to have an investment, you can buy bitcoin at any price you want, but it will recommend if you can wait for a while until the price is down. The price now is back to $49k-$50k, so I guess you need to wait for a while and don't rush to buy bitcoin.

You can invest 80% in bitcoin and 20% in ethereum or 20% for 2-3 coins at the same time. But you need to be careful because the altcoin is following bitcoin price movements.

He can't use Binance without KYC because he needs to deposit his fiat somehow to the exchange. I guess he can always go to a bitcoin ATM but I am sure the fees are still crazy high for bitcoin atms like before at 10% or so. Hence why he should just stick with Coinbase.

He also can't buy DASH or XMR on Coinbase. He can buy ZEC instead. I don't think Coinbase will list either coins in the near future. Even Bittrex removed all 3 (XMR DASH and ZEC) due to all the regulatory hurdles that are going on with the regulators in the USA.

[pooya87]

1) When is the time to invest? I can see today that Bitcoin is up 2.5%. Is it best to wait for a big drop or just get onboard now?
2) If I wanted to put 80% into bitcoin then 20% into something else - what would you recommend?

1) You have to realize that bitcoin has always been very volatile and will remain volatile for the foreseeable future. So you have to be ready to see big swings at any time. With that said bitcoin has a lot of potential in long term, as we have seen back in 2018 when price was dropping the potential was there even when price went from $20k to $3k it was excellent time to buy at any of those prices since as you see today price is $50k but it took 2 years to get there. Hence the long term potential.

2) Any traditional asset such as gold, stocks, ... that you feel is a safe option and  you have some experience in their markets. Whatever you do you should never "invest" in altcoins. They are useless and without any long term potential and they are always losing value against bitcoin whether bitcoin price goes up or down.
Later on when you gain more experience, you can choose to trade altcoins instead but never invest.

[Kathy256631]

Hi Guys,

I wanted to invest a bit of money (£1000 max at the minute until I understand a bit more) in crypto currency - mainly bitcoin.

I am a complete newbie so would appreciate some advice on the following:

1) When is the time to invest? I can see today that Bitcoin is up 2.5%. Is it best to wait for a big drop or just get onboard now?
2) If I wanted to put 80% into bitcoin then 20% into something else - what would you recommend?

I am using coinbase. Thanks for your time.

We can communicate on LINE, LINE: nana9946

[adzino]

Hi Guys,

I wanted to invest a bit of money (£1000 max at the minute until I understand a bit more) in crypto currency - mainly bitcoin.

I am a complete newbie so would appreciate some advice on the following:

1) When is the time to invest? I can see today that Bitcoin is up 2.5%. Is it best to wait for a big drop or just get onboard now?
2) If I wanted to put 80% into bitcoin then 20% into something else - what would you recommend?

I am using coinbase. Thanks for your time.

1. There is no "best" time to invest. Don't wait for a drop. It may never happen or you may never know if the price has reached its bottom. Just get onboard now. Make a profit goal. Once you reach, sell it. Remember, invest only what you can afford to lose. Invest money that you won't need.

2. Good that you are investing most of your coins in bitcoin. For the rest 20%, look for some coins that you think have potential. Avoid lesser known coins. Go for coins like Ethereum.

[yhiaali3]

I think this is a good time to enter, because there has been a bearish wave in the past days and it is preferable to enter now because the market is expected to rise again.
Choosing a small amount as a start is a good thing so that the risk is low until you understand the market well, and it is also good for you to choose 80% of Bitcoin because it is the most popular main currency that dominates the market.
As for my advice to choose another currency with Bitcoin, I recommend that you currently buy the BNB token because there is a very good movement these days on the token and it can make good profits from price movements.

[hugeblack]

1) When is the time to invest? I can see today that Bitcoin is up 2.5%. Is it best to wait for a big drop or just get onboard now?
2) If I wanted to put 80% into bitcoin then 20% into something else - what would you recommend?

I am using coinbase. Thanks for your time.

After you learn more, hurry up with using CoinBasePro (less fees,) but up to that time (understand what you are doing) sticky with coinbase.

Now there are two aspects, one related to Coinbase and the other related to Bitcoin.


Coinbase is a suitable place to buy and sell Bitcoin read them TOS and contact with support team.
when you want to *HODL* your bitcoin you should use save wallet < read more about it^[1] > and how to secure your wallet.

As for the strategies of buying and selling, there are many of them, for newbie it is better to use DAC or Buy the dip (buy when bitcoin price down with 20% to 60% or more)

it is better to learn using @aantonop --->  https://aantonop.com/workshops

[1] https://bitcoin.org/en/choose-your-wallet