What are the procedures to follow when I want to invest?

[nelson4lov]

1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?

Standard procedure is to create and use a reputable exchange account to buy Bitcoin and send to your very own Bitcoin wallet. You'd want to keep a few things in mind like the entry price and maybe some details specific to the exchange.

2. I'd appreciate an explanation of how Bitcoin mining functions and how it maintains the security and reliability of the Bitcoin network.

Bitcoin maintains the security of the network because it ensures that fraudulent blocks are not included in the chain and before any of the participating node can earn their reward, they've to do their bid.

If you want to delve into the technicals, give Mastering Bitcoin a read: https://github.com/bitcoinbook/bitcoinbook#chapters

3. Why is using Bitcoin better than using conventional currencies?

I think the biggest benefit bitcoin provides and pioneered is true borderless payments. Before now in my country, there was no way to send and receive payment without extensive checks at financial institutions. Now I can do that from the comfort of my home.

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[sheenshane]

I have came across some questions today while I’m reading some areas of bitcoin, these are the list of my questions.

1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?

Great, you've shown interest in how Bitcoin works and how to invest in Bitcoin.
There are too many crucial things that would happen upon purchasing Bitcoin so I highly advise you to have the knowledge of it first before putting your money as an investment, read those pinned posts in this section and you'll find out many answers to your questions.

2. I'd appreciate an explanation of how Bitcoin mining functions and how it maintains the security and reliability of the Bitcoin network.

I think you need to understand how Bitcoin works from basic information in reading the Whitepaper.

3. Why is using Bitcoin better than using conventional currencies?

It's a well-said in the Whitepaper if you've read it already, the purpose of why Bitcoin was created.
One thing that surely I've known, it's a purely decentralized currency.

[Mayor of ogba]

1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?

Firstly you need to have a fund you will use in purchasing the Bitcoin and after you settle that one you need to look for a centralized exchange that doesn't require KYC for withdrawal so that you will not review your privacy. The next thing to do is to move your fund to the centralized exchange where you want to buy the Bitcoin with either USDT, BNB, or ETH depending on the one you are holding, and if you don't have any of them you can buy it through P2P trading with your bank account. After you have moved the fund to the centralized exchange you are good to buy the quantity of Bitcoin you want depending on your fund available in the centralized exchange. When it comes to selling Bitcoin, you simply have to sell above your buying price to be on profit. For instance, if you buy Bitcoin at $25k you can wait for Bitcoin to gain or grow to $30k before selling.
Yes, there are crucial elements you need to have in mind before buying Bitcoin which are
1. Never keep your Bitcoin on a centralized exchange in order not to lose it if anything bad happens to the centralized exchange
2. Save your Bitcoin in a wallet you only have full control of and never share your private key and seed phrase with anyone else.

3. Why is using Bitcoin better than using conventional currencies?[/quote]
Using Bitcoin is better than using conventional currencies because when using Bitcoin to make payments you don't need a middleman to scrutinize your transaction. Also using Bitcoin for payments will prevent you not to be affected by inflation and transactions made in Bitcoin are very fast

[DeathAngel]

Educate yourself & gain a solid understanding of how Bitcoin works, its market dynamics &  potential risks involved. Maybe research reputable exchange, look for well established and regulated cryptocurrency exchanges that offer secure platforms for buying and selling. Begin with a small investment to get familiar with the market & mitigate potential risks.

Keep up with the latest news, market trends & regulatory developments that may impact Bitcoin's value.
Consider diversifying your portfolio by investing in other cryptocurrencies or traditional assets.
Implement strong security measures such as using two-factor auth.

[Abu-Naim]

You know, platforms like XGo have this multi-currency wallet thing going on. It lets you easily buy or sell crypto for regular money. The best part? It's super safe, and you can use just one XGoID for all your transactions. Talk about convenience!

How secure is the XGo platform that you're promoting? And how much did you get paid to promote them here in order to recruit victims who they will almost certainly scam?

What was XGo's reputation in the crypto sector that prompted you to endorse them? I see you started a discussion about them in this forum. Please, while I understand you are free to promote whatever you want, make sure you do not promote any platform that would defraud people.

[ImThour]

Hi, glad you asked lol. here are some tips for you, not sure if you will follow them at all -

1. Only invest 10% of your Income.
2. Do not buy any coin in FOMO, stay calm. You will get your opportunity.
3. Do not trade on other people's trade ideas, take inspiration and see what's good for you.
4. Never pay for Trading Signal groups, that's for losers.
5. DCA is the best option available in Crypto.

[Razmirraz]

1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?

Important elements you should pay attention to on which exchange you want to register and where you want to store your Bitcoin after buying. An important point that you need to pay attention to before buying Bitcoin is to choose a safe wallet to store it, you can stop by here Wallet software to get a wallet that is suitable for storing Bitcoins. Remember, never store Bitcoin in an Exchange wallet, because as long as you don't hold the private key, it is not your asset.

[348Judah]

1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?

There are procedures to follow before buying or selling bitcoin, what first set in is learning, there's nothing possible you could do outside the bitcoin learning ground, which means before you could do anything, you have to know about what you're trying to do well, this begins with learning about how to buy bitcoin, exchange bitcoin, earn bitcoin, hold bitcoin or sell it and other trading patterns you may learn along your investment before anything.

3. Why is using Bitcoin better than using conventional currencies?

Conventional currency in this regard means fiat if am on the right page with you, fiat is a currency that the government regulate and control while bitcoin is a digital decentralized currency that every individuals control by themselves without having any issues as barrier against their wish.

[CryptopreneurBrainboss]

3. Why is using Bitcoin better than using conventional currencies?

Many thanks to all of you for your explanation.

Bitcoin is better because, for starters Bitcoin isn't centralized or fully controlled by a group of elite bankers and the government. Bitcoin bring transparency to the finance industry and also have other benefits that makes using Bitcoin instead of using fiats recommendable but the banks in collaboration with the government isn't encouraging that because they lose control when we don't give them control over our finances. The government always wants control but when her citizens stop using the institution they provided to secretly monitor the transaction going on in the countries it becomes a problem because it gives the people freedom and that's why Bitcoin is better.

Standard procedure is to create and use a reputable exchange account to buy Bitcoin and send to your very own Bitcoin wallet. You'd want to keep a few things in mind like the entry price and maybe some details specific to the exchange.

To purchase Bitcoin, you don't always need an exchange (speaking about the typical centralized exchanges that we have in the market) as that's how I understand your reply. Bitcoin can always be bought through a decentralized Peer2Peer methods that doesn't involved any of the centralized exchanges. To avoid scam, the buyer just have to be sure he's using the right P2P exchange and one of the popular ones on the forum that anyone here with reputed knowledge will recommend is Bisq or AgoraDesk.com

[Mpamaegbu]

3. Why is using Bitcoin better than using conventional currencies?

I don't know how it works with others, anyway, but for me there's a type of ease I get when transacting with Bitcoin, especially funding an account or something else online. The convenience of sending it and getting it reflect almost immediately (especially days when there isn't much congestion), makes it easy to conclude that the role of middlemen in transactions is a real bottleneck.

Who even invest in something you don't understand yet?

We can't rule that out happening in reality and sometimes ending well too. It's only disastrous embarking on if one doesn't have anyone to mentor one. I barely knew what Bitcoin was when I made my first Bitcoin investment in 2017. I believe many people now are like me in 2017.

[Ojima-ojo]

You know, platforms like XGo have this multi-currency wallet thing going on. It lets you easily buy or sell crypto for regular money. The best part? It's super safe, and you can use just one XGoID for all your transactions. Talk about convenience!

But you forget to mentioned that it centralized and at that you still risk losing all or some of your investment on XGoID,  but then I will like to also advice that you should try as much as possible not to leave your total investment on an exchange no matter the level of the convenience they offer you.


We have heard a lot of exchange hacks and if you know FTX that ruin all their investor's investments was once one of the preferred choices because of their conveniences such as free withdrawal fees and so on but in the end, it all ended in tears for investors,  so for that to protect your investment,  there is a need to take total control of your investment.


Best you buy Bitcoin and hold it in your custody,  and take charge of the balance and what goes on in it,  it doesn't matter how long it takes to make that investment come to a high-profit level since no one promises that it going to be an easy walk.


So the best thing to do is to first of all build a good knowledge and background understanding of the asset you are about to invest in and try as much as possible to limit your risk by only investing what you can afford to leave without for a while. E

[D...brown]

1. Not really that hard, depends on the exchange you're want to use. I think the crucial element is privacy because if you've share your privacy in online, you will not able to become 100% anonymous since either the database or someone have save it.

2. In short mining is a process to verifying and solving Bitcoin blocks, mining can maintain Bitcoin security because the higher the difficulty and the more people mine it, this will make people who want to perform 51% getting slim.

3. Because it's decentralized.

I want you to guide me on how i can invest in Bitcoin without experiencing any lost.

[Obari]

I have came across some questions today while I’m reading some areas of bitcoin, these are the list of my questions.

1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?

2. I'd appreciate an explanation of how Bitcoin mining functions and how it maintains the security and reliability of the Bitcoin network.

3. Why is using Bitcoin better than using conventional currencies?

Many thanks to all of you for your explanation.

i would  have loved to qoute your thread in bits but I just have quote it entirely and give some explanations to the best I could.
One of the major procedure to take before buying or selling any cryptocurrency is doing your own research as this has already been proven to give the investor more edge on the coin he or she intends investing on. Secondly it it is always advice to buy low and sell high as that's the major principle  of making profits as an investor but in cases where there's no much capital to buy at once, then the DCA  method should be the best option as this enables you buy in bits at every opportunity  you get to buy.

Well I can't really speak  more of mining because I haven't paid much of an attention to it but I know their role can't be over emphasized.

Well most bitcoiners believe that using bitcoin is more safer for them because of its decentralization but I think bitcoin  helps in international transactions without so much transaction charges.

[Dzwaafu11]

You know, platforms like XGo have this multi-currency wallet thing going on. It lets you easily buy or sell crypto for regular money. The best part? It's super safe, and you can use just one XGoID for all your transactions. Talk about convenience!

But how sure is the XGo? I’m hearing about it for the first time here, although I don’t know if any other person here knows about it, because I always think someone should use an exchange that is well known by people in order to avoid being scammed. So how secure is the XGo you are talking about, and how does it work? You can see that the person who asks this question is still a newbie who doesn't know anything about bitcoin or how it works, so I will suggest that you explain everything about the XGo you are discussing to be well-explanatory so that we will know more about it. And also the OP.

I want you to guide me on how i can invest in Bitcoin without experiencing any lost.

Nothing hard there, mate. The only thing you need first is to be knowledgeable about bitcoin, which I believe is applicable to any investment you want to make. Once you are knowledgeable about where you are about to put your money, the risk will be limited, and that's why you need fundamental knowledge of bitcoin. And hold on to your investment for a long period of time because the price is unpredictable.

NOTE invest the amount you can afford to lose

[nakamura12]

All of the things you stated will be easier for you if you understand bitcoin and how it operates.

I, too, have limited knowledge, but I am certain that you can purchase Bitcoin using centralized exchanges, which are most frequent for novices due to our lack of knowledge, but you can also purchase via peer-to-peer in some Exchanges that are not kyc.

To learn more about the other aspects you stated, visit Learnmeabitcoin.com, which will assist and explain the entire procedure to you.

That's what I will suggest to OP on where to buy Bitcoin but I would explain to OP that after buying Bitcoin in a centralized exchange then OP should transfer it to a wallet like Electrum instead of using the centralized exchange to store the Bitcoin that OP have bought from it. As many newbies that I have explained about storing Bitcoin in an exchange and about the saying "Not Your Keys, Not Your Bitcoin" is true and there are some people who are victim of such situations where they store their Bitcoin in a centralized exchange.

[Honyek]

Making investment in bitcoin is risky. There is possibility that you might loose part or all your investment, if proper care is not taken. So, you need to make serious research on it. You need to research on the type of exchange you want to engage with. You need to research on the appropriate time to make investment to enable you make profit. You also need to know your target.  Very importantly, you should be able to make personal decision in every step of the process.

[isaac_clarke22]

I have came across some questions today while I’m reading some areas of bitcoin, these are the list of my questions.

1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?

2. I'd appreciate an explanation of how Bitcoin mining functions and how it maintains the security and reliability of the Bitcoin network.

3. Why is using Bitcoin better than using conventional currencies?

Many thanks to all of you for your explanation.

Crucial elements? If the money you're investing is not really that worth losing then that's one for the crucial element. For technical procs of purchasing and selling, it could depend on the platform you bought it from. I had traded in different trading exchange sites like Binance and EtherDelta and they do have different procedures.

For #2, I think it's better off to be asking that in the Mining section.

For #3, it's purely your money that's why.  And because it is....well it's Bitcoin.

[youdacapt]

I have came across some questions today while I’m reading some areas of bitcoin, these are the list of my questions.
1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?
2. I'd appreciate an explanation of how Bitcoin mining functions and how it maintains the security and reliability of the Bitcoin network.
3. Why is using Bitcoin better than using conventional currencies?

Many thanks to all of you for your explanation.

I see that you are new to the forum and with your questions; it appears that you are just understanding crypto currency and bitcoin; to that reason i will encourage you that the first step is reading about the following and also understand it.

1. Bitcoin wallet and how to keep your btc
2. Trading Psychology

After understanding the above 2 topics; then my answer below will help you with regards to your first question. The procedures to buying and selling bitcoin is similar; what you need to do is figure out the exchange you want to buy / sell bitcoin from. Before buying / selling btc, you should remember that in bitcoin or crypto currency, there are no guarantees.

For your second question; i have no knowledge about bitcoin mining; so you can use binance academy to learn about that, or read different topics in the bitcointalk mining forum. For no 3, bitcoin is only better than conventional currencies depending on what is acceptable in your present location.

[Rockstarguy]

3. Why is using Bitcoin better than using conventional currencies?

People would always to prefer to use bitcoin as currency because bitcoin is more decentralized than any other currency you can think of,  it is more reliable to use as currency than any other cryptocurrency.  With the existence of bitcoin in the market, their are much evidence and proof that will always make people choose Bitcoin because it is safe to use as currency and   for investment purpose. It is not as risky when compared to other cryptocurrencies .

[JunaidAzizi]

1. What is the procedure for purchasing and selling Bitcoin, and are there any crucial elements to take into account before beginning?
3. Why is using Bitcoin better than using conventional currencies?

First, I would like to recommend YouTube for this type of question which will guide you more through a demo. I am answering 1 and 3 questions. There are many plate forums, websites, and exchanges that will help you to trade, buy, or sell and another one is the P2P method in which you can buy or sell a cryptocurrency directly from the users. The third question answer is that there are many reasons why Bitcoin is better than conventional currency.
> More secure and anonymous form of payment.
> Globally form of payment
> More secure form of currency.

For the 2 questions check the replies of some legendary members they will understand you in detail.