Newbie

[stevesharpuk]

Hi All,
         I am new to crypto investing and want to purchase my first Bitcoin but I am totally confused as to which platform I should use to make my purchase, currently, I have been using etoro and have in my portfolio several crypto's.  But I am not sure if this is the best platform for buying 1 bitcoin as it seems to lack good customer care.

1) If you were to recommend a platform which one and why.
2) If I was to stake my 1 bit coin what would I get in return as a passive income.
3) Can you recommend a good youtube to watch for advice on investing.

Regards

[OmegaStarScream]

1. It depends where you're from, but if you're from the EU, UK, or US I'd recommend going with Coinbase. It's one of the oldest and most reputable platforms out there. You should still make sure to withdraw your funds to a non-custodial wallet afterward (A trezor or a Ledger device since you're buying a large amount).
2. Not much, and I wouldn't recommend doing it either. You're basically giving full control over your funds when you do that.
3. Not really for investing, but if you want to educate yourself about trading and the crypto world in general: CoinBureau and Benjamin Cowen.

[Odusko]

Hi All,
         I am new to crypto investing and want to purchase my first Bitcoin but I am totally confused as to which platform I should use to make my purchase, currently, I have been using etoro and have in my portfolio several crypto's.  But I am not sure if this is the best platform for buying 1 bitcoin as it seems to lack good customer care.

1) If you were to recommend a platform which one and why.
2) If I was to stake my 1 bit coin what would I get in return as a passive income.
3) Can you recommend a good youtube to watch for advice on investing.

Regards

You can try one of these platforms ,they are good for bitcoin exchange, (crypto.com,binance, or coinbase,) you can browse and make enquiry about them  before you invest,these 3 are well known and I don't think they can easily crashed.

[Upgrade00]

1) If you were to recommend a platform which one and why.
2) If I was to stake my 1 bit coin what would I get in return as a passive income.
3) Can you recommend a good youtube to watch for advice on investing

1) It depends on your preference. If you are not to privacy cautious, you can purchase on a reputable centralized exchange like coinbase or binance. Buying up to one BTC would trigger some KYC requirement and could lead to your details being sent to the authorities.
You have an alternative to buy on peer-to-peer platforms like hodlhodl or bisq. They are more private than centralized exchanges, but have less liquidity.

2) You can stake it, but it is not worth the risk involved.

[BIT-MASTER]

How is everyone?
It would be good to say the rules of this forum.
And I'm new here. So I don't know what to do.
Since this forum is for newcomers, I'd be happy to explain everything to you.

[PX-Z]

2) If I was to stake my 1 bit coin what would I get in return as a passive income.

I'll leave the others to answer other questions, but this, you should know that holding bitcoin is not just to make an income, just so you know, lots of people becomes poor in one night holding bitcoin because of poor of decision making and understanding how investing in bitcoin works. It's the same on staking coins, but regarding the staking in etoro they dont have staking for bitcoin, based on their staking page^[1], they only supports ADA and TRX

[1] https://www.etoro.com/crypto/staking/

[masterrex]

Hi All,
         I am new to crypto investing and want to purchase my first Bitcoin but I am totally confused as to which platform I should use to make my purchase, currently, I have been using etoro and have in my portfolio several crypto's.  But I am not sure if this is the best platform for buying 1 bitcoin as it seems to lack good customer care.

1) If you were to recommend a platform which one and why.
2) If I was to stake my 1 bit coin what would I get in return as a passive income.
3) Can you recommend a good youtube to watch for advice on investing.

Regards

I think the comments above are generally pointed out the best thing to do and what to choose, Anyway most of the exchange that was mentioned above is a centralized one, But since you are already using Etoro it has no difference in terms of privacy because it also required KYC if you buy in a big amount that is already above the limit, the only difference is Etoro is a socialized trading platform above them all, Im also using a Binance, FTX so I can say that they are the trusted one. About staking Bitcoin I don't think it's good for a passive income because it's already high in price that's why I don't know if it was good for staking I have only tried some altcoin and it's not good in terms of return.

[Maus0728]

1) If you were to recommend a platform which one and why.

Using Peer-to-Peer (P2P) exchanges such as [1] https://bisq.network/, [2] https://hodlhodl.com/, and [3] https://localcryptos.com/ are the most common suggestions. However, the issue with these exchanges is that the volume is low, making it difficult to find a seller of a whopping single bitcoin.

Furthermore, if you are new to these platforms, you may find it difficult to buy from other people as your account has no previous trading history especially that the amount you are buying can raise suspicion to other established p2p traders. Also, the country in which you reside is another factor to consider when purchasing bitcoin; the best solution I can think of is for you to look for an exchange in your country.

2) If I was to stake my 1 bit coin what would I get in return as a passive income.

Well? I think it defeats the purpose of bitcoin, no? I'd rather keep it in my non-custodial wallet than give other people the authority to use it.

[stevesharpuk]

Hi All,

       I would just like to say thank you for all the replies to my post. I have just set up an account with coinbase and think it's probably sensible to wait until after the current situation with Russia/Ukraine is solved before taking the plunge. The funds that I intend on using are from an old company pension pot that when matured will pay out £40 per month,   so I decided to cash it in and reinvest it in bitcoin, It will probably not be touched for another 7 years.


Regards 

[GoodLuckHK]

Can you recommend a good youtube to watch for advice on investing.

You can try one of these platforms, they are good for bitcoin
1.Binance(KYC Must)
2.exchange
3.crypto.com
4.coinbase
5. okex
6. kraken exchange
7. houbi exchange
8. FXS exchange
9. bitmert
10. Lbank
11. bitfiniex
12. sex.io
 you can browse and search for them before you invest, these 3 are well known and I don't think they are easily compromised. Maybe.

[GeorgeJohn]

We have so many exchanges you can purchase cryptocurrencies as much as you wants to purchase, but it determine the one that can process your transaction immediately with low fees, actually all have equivalent fees

1) If you were to recommend a platform which one and why.
2) If I was to stake my 1 bit coin what would I get in return as a passive income.
3) Can you recommend a good youtube to watch for advice on investing.

So if i may ask for recommendations from exchanges were you can purchase coins, i will like you to select from the list below..but among all I prefer binance mostly. But remember that all required KYC

(1) Binance
(2) kucoin
(3) Coinbase
(4) okex
(5) kraken exchange
(6) houbi exchange
(7) FXS exchange
( bitmert
(9) Lbank
(10) bitfiniex
(11) sex.io

[amishmanish]

--snip--
1) If you were to recommend a platform which one and why.
2) If I was to stake my 1 bit coin what would I get in return as a passive income.
3) Can you recommend a good youtube to watch for advice on investing.

Regards

Most websites that allow you to "stake" BTC would first need you to convert it into a Wrapped token which is basically ERC-20 version of bitcoin governed by a set of actors that decided to be custodians of this transfer. Once you have this renBTC or wBTC, you can then use platforms like AAVE, COMP etc to provide it to their lending pool. The returns would really not be a lot though. Most of these sites had rewards for early users when the liquidity was low.

Nowadays there is enough liquidity and to have a good return, you will have to go into riskier assets and explore newer platforms. There are a ton of them and it is hard to discern between scams and good ones. Better to keep part of that BTC safe as a SoV. The rest can be used for the risky plays after you do your own research. For starters, I can recommend you to check a product known as "Barnbridge Smart Alpha".

[lombok]

Hi All,

       I would just like to say thank you for all the replies to my post. I have just set up an account with coinbase and think it's probably sensible to wait until after the current situation with Russia/Ukraine is solved before taking the plunge. The funds that I intend on using are from an old company pension pot that when matured will pay out £40 per month,   so I decided to cash it in and reinvest it in bitcoin, It will probably not be touched for another 7 years.


Regards 

Coinbase is already a great place to make Bitcoin purchases. If you intend to buy in large quantities and will be stored for a long time I suggest moving or storing bitcoins in a bitcoin cold wallet.
I will provide a link where you can choose the wallet to store your Bitcoins: https://bitcointalk.org/index.php?topic=1631151.0

[ItsNotSean]

Hi All,

       I would just like to say thank you for all the replies to my post. I have just set up an account with coinbase and think it's probably sensible to wait until after the current situation with Russia/Ukraine is solved before taking the plunge. The funds that I intend on using are from an old company pension pot that when matured will pay out £40 per month,   so I decided to cash it in and reinvest it in bitcoin, It will probably not be touched for another 7 years.


Regards 

It is important to think hard about cashing in your retirement pension (0 risk, but limited no growth) to buy BTC instead (massive risk, decent LONG TERM growth potential).

Your investment  in BTC is always susceptible to wild swings. I have lost 90% of my investment, then saw those dregs rebound 2,000%, only to repeatedly rise and fall up to 50% in either direction, all over the last 4 years or so.

If that pension is your only source of income for your retirement, you should speak to a professional  adviser. From your posts it's clear that your knowledge  of cryptocurrency is very limited, and you also are susceptible  to being scammed.

Visit https://www.DANTeachesCrypto.com/ to learn the basics for free. And that's just beginner level.

[btc78]

Hi All,
         I am new to crypto investing and want to purchase my first Bitcoin but I am totally confused as to which platform I should use to make my purchase, currently, I have been using etoro and have in my portfolio several crypto's.  But I am not sure if this is the best platform for buying 1 bitcoin as it seems to lack good customer care.

1) If you were to recommend a platform which one and why.
2) If I was to stake my 1 bit coin what would I get in return as a passive income.
3) Can you recommend a good youtube to watch for advice on investing.

Regards

You can use Binance instead of Etoro because there are more options in staking from that exchange though I would suggest to try some new project to stake your funds as Binance is offering big percent of income(With assurance of safeties because this is the biggest exchange in our days now)  though most of that are not Bitcoin staking but other altcoins.

Can you recommend a good youtube to watch for advice on investing.

You can try one of these platforms, they are good for bitcoin
1.Binance(KYC Must)

Yeah this is the problem from Binance now as the requirement for KYC verification is indeed.

now like in the past that there is a specific amount needed for kyc providing.

[Marvelman]

I have just set up an account with coinbase and think it's probably sensible to wait until after the current situation with Russia/Ukraine is solved before taking the plunge.

It is impossible to predict how a Russia-Ukraine conflict might affect global markets. It is not unusual for investors to rush to bonds during major risk events, as they usually view bonds as safest assets, and this time may be no different. Gold is also seen as a refuge in times of conflict or economic strife. However, as with the Russia-Georgia war in 2008, the Ukrainian crisis should also have a negative impact on commodities like oil, as the country is a major supplier of crude and natural gas to Europe. This could negatively impact the prices of many other commodities, including food and other necessities. As a result, it could negatively impact the crypto market, since when an economy is in crisis, people give up the riskiest investments and focus on the most basic needs. Nevertheless, I personally think a war will never take place, since, in such a scenario, both sides would be at a loss.

[Mpamaegbu]

12. sex.io

(11) sex.io

I guess both of you meant Cex.io. I never heard of that supposed "exchange" mentioned above. For correctness, I looked it up on exchange sites and I ain't surprised anyway that I didn't see it.

OP, your best check should be on the first 10 exchanges as listed on the CMC or Coingecko site. Make your pick from them. But if you want my recommendation, go for Binance exchange. It's the most trusted and most assumed to be the most honest, for now.

[Marvelman]

12. sex.io

(11) sex.io

I guess both of you meant Cex.io. I never heard of that supposed "exchange" mentioned above. For correctness, I looked it up on exchange sites and I ain't surprised anyway that I didn't see it.

lol! Now that you've pointed that out, of course I had to look up that exchange as well. I'm a little disappointed that the website doesn't work. 

[BIT-BENDER]

+Due to the fact that I don't know which country you are from I would say use local Bitcoin, then you can navigate it yourself.
+ I don't know anything about staking and I am happy I don't so I won't advice on what I don't do
+ There are several great YouTubers out there you can watch for anything crypto-currency related but j won't give them an advert, so it's your research to make and also be careful about the comments section it has really caused many to get scammed.

[Stalker22]

Hi All,
         I am new to crypto investing and want to purchase my first Bitcoin but I am totally confused as to which platform I should use to make my purchase, currently, I have been using etoro and have in my portfolio several crypto's.  But I am not sure if this is the best platform for buying 1 bitcoin as it seems to lack good customer care.

Etoro is not a good platform to buy crypto. What's more, I don't think you can withdraw a cryptocurrency from their platform at all, all you can do is trade.

1) If you were to recommend a platform which one and why.

Depending on where you live, you can use one of the local exchanges in your country. The second solution is some of the globally popular exchanges as other members have already mentioned. Furthermore, you can probably find a local seller and buy crypto in person if you do not want to go through KYC procedures.