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Author Topic: New to bitcoin (help needed starting)  (Read 334 times)
OcTradism
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December 03, 2024, 01:57:52 AM
 #41

I tried that first link you gave thanks! and entered my location in, but the fees for all of the outlets showed the same!

Fees:
Buy: N/A


I guess that is the fees that they rip you off on for the though of being out of the didital system. (and we dont even know what the fees are yet!)
When you use Bitcoin ATMs, you have to be super careful with your purchase and sale, pay attention on fee. Checking service fees from Bitcoin ATM producers from online sources is good preparation but when you visit a physical Bitcoin ATM for your trade, it's more important.

Because the fee you will be charged, will happen there, if you are carelessly with your practice, you can be charged super expensive fee, that you don't want. But a trade, fee if already processed, is not reversible.

Bitcoin ATM Deposit Exchange Rate shocks.

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Goldson (OP)
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December 03, 2024, 08:48:05 AM
 #42

The skyrocketing price of Bitcoin makes beginners interested in buying this most phenomenal asset. One thing to note is that the price changes are unpredictable and create a feeling of insecurity for beginner investors. As your first step in the crypto industry, you should start from the most basic, such as buying consistently and then storing it in a wallet that you can control the Private key. Although it sounds easy when explained by seniors in several different comments, there are several aspects that need to be considered because each method used requires special attention in terms of price technicals.
Can you recommend any other platforms rather then coinbase (that work in the UK)
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December 03, 2024, 09:54:19 PM
 #43

Can you recommend any other platforms rather then coinbase (that work in the UK)

You can also check out MEXC exchange (https://www.mexc.com/). They should have lower fees than Coinbase and, last time I checked, they should be available in the UK.
I have used them a few times and they have been pretty reliable. No major complaints so far.

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Goldson (OP)
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December 04, 2024, 10:29:39 AM
 #44

Can you recommend any other platforms rather then coinbase (that work in the UK)

You can also check out MEXC exchange (https://www.mexc.com/). They should have lower fees than Coinbase and, last time I checked, they should be available in the UK.
I have used them a few times and they have been pretty reliable. No major complaints so far.

https://ibb.co/16tGkfc
And you can even contract the with out being a member of there club!

Think I am going to leave this for now and stick to the trushworthyness of gold and silver

Thanks for the help
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December 04, 2024, 11:31:28 AM
 #45

Can you recommend any other platforms rather then coinbase (that work in the UK)

You can also check out MEXC exchange (https://www.mexc.com/). They should have lower fees than Coinbase and, last time I checked, they should be available in the UK.
I have used them a few times and they have been pretty reliable. No major complaints so far.

https://ibb.co/16tGkfc
And you can even contract the with out being a member of there club!

Think I am going to leave this for now and stick to the trushworthyness of gold and silver

Thanks for the help
It's all your choice. Invest in what you know of, not what you have less knowledge of. That's the best way to follow up on things in life, to avoid making a lot of mistakes you will regret in the future or hold someone responsible for your misfortune.

However, since you would prefer sticking to gold and silver will do you right, stick up with it, not Bitcoin investment because you really don't have basic knowledge of it.

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December 05, 2024, 12:43:14 PM
 #46


It's all your choice. Invest in what you know of, not what you have less knowledge of. That's the best way to follow up on things in life, to avoid making a lot of mistakes you will regret in the future or hold someone responsible for your misfortune.

However, since you would prefer sticking to gold and silver will do you right, stick up with it, not Bitcoin investment because you really don't have basic knowledge of it.

It would appear that the tecnocratic hoops needed to become of member of the club apear to be to much for me. And Given the fact that the prices to buy and sell, (well lets be frank shall we a bunch of 0s and 1s) are astronomical! Compared to what I pay to have gold and silver stored in a secured vault. It would apppear that everyone selling it that I have come across so far are just rip off mechints!

But it was more of a trade thing to avoid CBDCs then an investment. However there are other routes for this such as companies that offer gold and silver bank account and countorys that will not be taking part in a post CBDC world that I would like to open a bank account with. All of which would offer a debit visa card with your account, so you can participate in this digital money world

But when the $ fails at some point in the near furture. and again in a post CBDC world. I see bit coin becoming a popular choise for those who want to go under the radar.
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December 06, 2024, 09:13:20 PM
 #47

What exactly is the plan, it’s kinda complicated also I understand the point. You don’t have to do much instead create a bitcoin wallet of your choice either blue wallet or electrum secondly create an exchange where you buy bitcoin directly to your wallet. From what I read bitcoin as a transaction means is not suitable though if only the environment is bitcoin friendly secondly you don’t have to use wallet if you’re interested in buying stuffs with bitcoin due to transaction fee, why not convert your coins instead to avoid stress. Meanwhile holding bitcoin still requires knowledge either buying little fraction for long term probably as time goes you’ll find what’s more beneficial.

And this is like one of the shortest procedures and if it is followed properly then I don't think there should be any challenges, the storing of your assets in your wallet is very important and when the wallet is opened and very good option of wallet another thing is the see phrase, most people are finding it very hard to store there seed phrase and that is like one of the most important things after you have successfully buy, from an exchange but before all this those op reall have enough investment, because there are people that have intrest but they don't have any realistic for them to invest.

And the investment is not for him to rush it will be better for him to just go for the knowledge first and then follow by funds because there is no way the investment will go well without funds so it is better to have everything planned out before starting because a lot of them have the intention but they don't have plans on how to make there intention come to reality.

And op is lucky to be here so everyone one because of the kind of information that we have access to over here always a new thing to learn.

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December 06, 2024, 09:59:20 PM
 #48


But lets not get to hasty! Just like to buy a bit hear and a bit there for now ($20ish). So what do I need for all this and where do I get it I mean how do I start?

Thanks
I hope you know that Bitcoin transcription is not free?
You have to pay for transaction fee when sending out Bitcoin, and for small scale business it will affect the profit because you will definitely deduct the transaction fee among the expenses, and if it is a small scale business, your profit will be affected because sometimes the transaction fee do become high due to how congested the network is.

As a newbie, I will advice you to accumulate Bitcoin first, and make Bitcoin payment optional since you have passion for it, the. Try as much as you can to use DCA to accumulate Bitcoin because if you use Bitcoin for business, you can face certain challenges because of how volute the Bitcoin and cryptocurrency markets are.


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OcTradism
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December 07, 2024, 02:25:08 AM
 #49

You have to pay for transaction fee when sending out Bitcoin, and for small scale business it will affect the profit because you will definitely deduct the transaction fee among the expenses, and if it is a small scale business, your profit will be affected because sometimes the transaction fee do become high due to how congested the network is.
To store your bitcoin safely, you must store it in non custodial, and open source wallets. Such wallets allows you to access your Bitcoin private keys that can have Coin Control feature so that you're able to control your Bitcoin inputs, outputs and fee rates. These self-control ability allows you to control your transaction, transaction fee and it's big advantage than storing your coins on centralized exchanges that will charge you very expensive withdrawal fees.

Problems with Coinbase withdrawal fees.

Quote
As a newbie, I will advice you to accumulate Bitcoin first, and make Bitcoin payment optional since you have passion for it, the. Try as much as you can to use DCA to accumulate Bitcoin because if you use Bitcoin for business, you can face certain challenges because of how volute the Bitcoin and cryptocurrency markets are.
I agree with you. Bitcoin is the first cryptocurrency to invest money in and even with time, you have more experience in this market, experienced with more altcoins, at the end, Bitcoin will be your choice, as a main part of your investment portfolio.

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