An old friend who introduced me to bitcoin investment and forums.

[Mabebe]

Sorry to post this here as this is my first post and my aim of creating this post is to focused on bitcoin investment.. I have 500,000 in our local currency but I would want to take that bold step to start it with my bitcoin journey, my friends who is into bitcoin directed me here and for that I decided to make topic because he was trying not to involved himself like, so that I wouldn’t blame him for anything lose or whatever that may happened to my funds so he directed of me to create topic and follow the guidelines they would be replying here.

I know this is nothing to some of you who has been here for decades or years as the case may be, but I just want this process to be productive and rewarding because I have planned to hold bitcoin for at least 4 or 5 years based on the information I had about halving, I don’t know how true this could be but I believe that my present here would never be regretted joining this forum and I believe to meet same like mind of people who will be that willing to open up to me to give me what I need to proceed my bitcoin investment journey.

Thank you for everyone who has made this forum a very interactive place and learnable centre. Please could someone who is that open to share things with me directs me well?

[nutildah]

Welcome to the forum. First of all, don't entertain advice or offers from newbies or accounts with negative trust (a red trust number on their profile). There are tons of scammers looking to take advantage of newbies. Don't trust anybody blindly... do your own research.

So a lot of your success in purchasing Bitcoin will be dependent on where you live. Most exchanges will ask you for an ID these days so be prepared for that. One of the most popular and newbie-friendly crypto exchanges is Binance. They accept several different currencies and are relatively easy to use. I would research them and see if they are compatible for your needs.

Feel free to ask other questions here if you have them. I wouldn't respond to private messages from people as they are most likely scammers.

I'm sure other people will chime in with helpful (or semi-helpful) advice as well.



(dear readers: I'm not shilling Binance on purpose, but it is what it is)   

[AVE5]

Sorry to post this here as this is my first post and my aim of creating this post is to focused on bitcoin investment.. I have 500,000 in our local currency but I would want to take that bold step to start it with my bitcoin journey, my friends who is into bitcoin directed me here and for that I decided to make topic because he was trying not to involved himself like, so that I wouldn’t blame him for anything lose or whatever that may happened to my funds so he directed of me to create topic and follow the guidelines they would be replying here.

This post would had been better in the beginners and help section but it's okay since we're basically talking about bitcoin.
To be honest with you, that friend who initiated your ideal into bitcoin investment has done you good by referring you to this platform before you'd learn exceedingly here from most likely professional bitcoineers and enthusiast here. But if your friend can act so genuinely to you like that then you should give him benefits of reliability to an extend while you're still a beginner. Learning about bitcoin for beginners especially the skeptics like you're trying to put your investment risks as someone's responsibility.
You must also have to understand that every bitcoin investors is responsible of their own risks which I believe your friend had made it clear. So our options for you may not count and it's not right to ask you to buy bitcoin when you're not ready on your own to take the risks.
That your friend with his genuineness is best to guide your beginner level while you must play smart not to trust him with your private keys or seed phrase.

[Majestic-milf]

 I'd take the advice of Nutildah to heart because aside from their world of experience with fishing out scammers, they also have stayed on this platform for long to be able to how to point a newbie like yourself in the right direction.
Welcome to the forum and do well to have an open mind and also be consistent here because that's the only way you can learn.
 Although your friend did well by introducing you to this place, it would have been more better if they were able to give you a little heads-up on what and what to expect on your Bitcoin journey.

[Mabebe]

Welcome to the forum. First of all, don't entertain advice or offers from newbies or accounts with negative trust (a red trust number on their profile). There are tons of scammers looking to take advantage of newbies. Don't trust anybody blindly... do your own research.

So a lot of your success in purchasing Bitcoin will be dependent on where you live. Most exchanges will ask you for an ID these days so be prepared for that. One of the most popular and newbie-friendly crypto exchanges is Binance. They accept several different currencies and are relatively easy to use. I would research them and see if they are compatible for your needs.

Feel free to ask other questions here if you have them. I wouldn't respond to private messages from people as they are most likely scammers.

I'm sure other people will chime in with helpful (or semi-helpful) advice as well.



(dear readers: I'm not shilling Binance on purpose, but it is what it is)   

Thank you sir/ma
Thank you for pointing out to binance exchange and currently they do not offer services within our locality and our trading pairs has been removed so most people do not like using it to fund except for trading alone.
For about trust you mentioned I have seen some profile around that are being painted light orange or do I say red, I have been wondering about them but I am happy you pointed it out here as well couples with that of personal messages you just mentioned as well. I wouldn’t listen to any messages secretly except it being posted openly here where everyone would see what others are saying, I am also making more findings to see I how I can find exchange that are so friendly to us to fund my account.

[hd49728]

(dear readers: I'm not shilling Binance on purpose, but it is what it is)   

It's indeed what it is and Binance is a best exchange to use since 2017.

Another it is what it is is 
Reminder: do not keep your money in online accounts.

Binance has been a great exchange since 2017 but nothing guarantees that it will be a good one in the future. Storing fund and cryptocurrencies on any centralized exchange is always a terrible fund storage practice.

It's not your key, it's your coins.

[Stepstowealth]

my friends who is into bitcoin directed me here and for that I decided to make topic because he was trying not to involved himself like, so that I wouldn’t blame him for anything lose or whatever that may happened to my funds so he directed of me to create topic and follow the guidelines they would be replying here.

Some people may be quick to criticize the action of your friend, for not giving you the information you need, but rather pointing you to where you can get the information you seek and also interact with others like yourself who are investing in bitcoin. I think it is good for you, because your friend has made it so so that you do not start depending on him, and as he said blame him for whatever negative outcome of your investment. He has set you on the path of independence, which is good because on this path you get to make informed decisions.

Ignore anyone who offers you private help in your messages, and feel free to ask publicly whatever questions you have concerning bitcoins, this is how we all learned. As you have the intentions to invest, also plan towards security because that is very important.

[Marykeller]

Welcome to the forum. I guess the 500k you have in your local currency is not the only cash you have with you that you want to use to invest in Bitcoin. If that's the only cash you have with you at hand, don't invest all in Bitcoin without keeping some money for an emergency funds (emergency money is an amount set aside for uncertainties, so that you won't sell your Bitcoin at the wrong time when you are not ready to do that).

I wish you luck as you are taking the bold step to invest and hodl Bitcoin for long term. You can apply the DCA strategy whenever you have spare money to invest in Bitcoin.

[Marvelockg]

Thank you for everyone who has made this forum a very interactive place and learnable centre. Please could someone who is that open to share things with me directs me well?

First of all, you're welcome to the forum and congratulations to your friend, at least, the very fact that he doesn't want to put himself under pressure by not directly introducing you to an investment startegy is not something that's all too bad.

Bitcoin investment is for everyone regardless of your level of knowledge and that you even have an amount in place to start with makes it more easier to start at least from somewhere. Don't procrastinate buying now that you have the money or else, you risk spending the fund on something that doesn't worth it. With bitcoin, you're sure that buying won't lead you to loss so, you're right on track even if you buy with your savings.

[kriminall]

First of all, welcome to the forum. If your local currency is worth $500,000, you absolutely must get a hardware wallet. My advice to you is not to trust online wallets, even if they are the world's most secure exchanges. Large amounts of Bitcoin to be HODL, should definitely be stored in a hardware wallet like Trezor. This may be the best option for your money's security. I'm also optimistic about the halving. I hope the next halving will bring Bitcoin prices to their best.

[Cuda911]

Now you just exposed yourself having a certain amount that you want to invest in Bitcoin, you shouldn't have made mention of how much you have, I am suspecting that you will be getting PM from some scammers on here already, I am sorry to announce that scammers are also available on this forum.

A newbie like yourself are the easiest target, so avoid any PM and do your own research, create an account on Binance and trade your fita into Bitcoin using Binance peer to peer option, I suggest using blue wallet or electrum if you don't already have a hardware wallet.

About if now is a good time to start buying bitcoin is tricky because Bitcoin have grown so high in the past two years now, I wish you come asking this question in 2023 it would have been a good entry for you, now I believe it is even more unsafe to buy Bitcoin than it was two years ago.

The decision is yours to make from here on, dyor.

[Spaceman1000$]

Sorry to post this here as this is my first post and my aim of creating this post is to focused on bitcoin investment.. I have 500,000 in our local currency but I would want to take that bold step to start it with my bitcoin journey, my friends who is into bitcoin directed me here and for that I decided to make topic because he was trying not to involved himself like, so that I wouldn’t blame him for anything lose or whatever that may happened to my funds so he directed of me to create topic and follow the guidelines they would be replying here.

I know this is nothing to some of you who has been here for decades or years as the case may be, but I just want this process to be productive and rewarding because I have planned to hold bitcoin for at least 4 or 5 years based on the information I had about halving, I don’t know how true this could be but I believe that my present here would never be regretted joining this forum and I believe to meet same like mind of people who will be that willing to open up to me to give me what I need to proceed my bitcoin investment journey.

Thank you for everyone who has made this forum a very interactive place and learnable centre. Please could someone who is that open to share things with me directs me well?

Since you want to invest with 500,000 of your local currency, which would have been better if you had added the dollar equivalent so we could know how much your looking at, and from what you've said, your keen to investing that amount, I would advise you start investing gradually using The Dollar-cost Averaging (DCA) strategy, this strategy allows you to invest either every week or monthly a certain amount from the entire capital you've set out to invest in bitcoin investment, this process allows you grow your portfolio step by step and helps make the environment familiar to you based on your frequency as a newbie.

[Miles2006]

Bitcoin investment is a nice investment choice, I also learnt about bitcoin from a friend till date I’m always ready to know more about bitcoin. Holding for 4 or 5 years is considered a long run investment journey and beyond 5 years, the amount also matters and for a newbie starting with a huge amount is okay while some prefer starting with something little gradually. They’re other important things you need to know about bitcoin investing firstly security matters and privacy, many fail to under how to keep their private details a secret which might attract scammers, as a newbie you don’t have to share any information regarding your wallet secondly holding a backup fund will help sustain your investment for the long run for example emergency funds etc, there’s still more to learn about bitcoin.

[LDL]

First of all, I would like to extend my greetings and congratulations to you on behalf of the Bitcoin Forum. No one will force you to do anything about your investment because it is your personal matter whether you will invest. No one will interfere here, but if you want to invest 500k in your local currency, then I will definitely tell you to invest in the DCA method. If you want to invest, you should be careful when choosing a wallet after investing, especially since the security of your wallet depends entirely on you. If you cannot secure it, then there is a possibility that it will be compromised. Moreover, if you want to invest in Bitcoin and hold it for the long term, then you should know the various risks of investment and the various risks of storage before investing. Remember that your wealth will depend on your security.

Not your key not your coins..

[hyudien]

..

Welcome my friend. Please visit this forum often, as there's a wealth of knowledge for you to learn and broaden your horizons. However it's also important to remember that this forum isn't entirely clean; there are many scammers, so be careful. Oh and one more thing: if you're really interested in learning everything about Bitcoin, this forum is indeed at the top of the list. As the name suggests and your involvement in starting to invest, I'd greatly appreciate it. But most importantly, keep your investment in a cold wallet.

[Ucy]

First of all. you need to have a basic understanding of what Bitcoin is, before deciding whether to invest or not.
It's better to invest in something you understand and like (which is expected to be something good/right). If Bitcoin is it, it becomes difficult to shake or decieve you into making wrong choices with Bitcoin as you become convinced that using it is the right thing to do and you know how to use it.


Understanding Bitcoin:
Bitcoin is simply a peer-to-peer (or person-to person) electronic cash (or currency) system. Its currency is also called Bitcoin or BTC in short (while the System/Network it's based on is still called Bitcoin).
It was created to give users (members) full control over their money, and to enable them transact directly with each other instead of the transactions going through a third person (third-party). The idea basically is to enable members of the Bitcoin network transact directly with each other on accounts (unlike bank accounts) they fully control, without passing through a third-party. It's like a community of global users who are their own banks.
The peer-to-peer transaction helps lower transaction cost, even when a sender is sending from any country to a reciever in another country. And users having control over their bitcoins helps prevent the possibility of the funds getting lost or inaccessible if a custodial bank for example, that otherwise controls the funds ceases to operate, gets hacked or wrongly freezes owner's account..


To safely use Bitcoin in the manner described above, make sure your device is secure/clean enough, then download a Bitcoin Blockchain (recommended for advanced users with lots of data), or simply download a reputable non-custodial Bitcoin Wallet, you can search this forum for recommended safe wallets to use. Install and open the wallet, then generate your Bitcoin keys (often called seedphrase). Write down the keys on a paper or/and a solid object... preferably, create multiple copies of the object/paper with the keys written on them and store in different safe locations just incase you lose one copy, you can rely on the other..Note that the keys can also be used in many other Bitcoin compatible wallets if you decide to change your wallet to another (this is part of what makes Bitcoin really nice). Back to the Wallet, on the wallet interface, look for "Recieve Bitcoin" to obtain your Bitcoin Address where you can recieve bitcoins sent by people (or yourself) who have the address.



Another nice thing about Bitcoin are:
* you need little to zero permission to join. It doesn't ask you where you are from, or who you are,  your name, etc. Anyone can effortlessly join. It has global members. And most importantly, you fully control your fund, no one can take it away from you unless they have access to your private keys. So, make sure only you have access to the keys by storing it secretly and safely.
* It's fully decentralized, has no central office or administrator(network members are the admins), it exists and operate globally, Can be used, sent and received in any country where members exist

[Donneski]

Welcome to the forum mate. Firstly I commend your enthusiasm and willingness to learn before jumping into Bitcoin investment. Everyone here started somewhere and taking the time to understand how things work will save you a lot of stress down the line. You’re already on the right path by coming here to ask questions instead of rushing into it.

Just take things one step at a time, read through older threads so you'll have a better understanding of the forum, learn how wallets and exchanges work and don’t hesitate to ask questions when you’re unsure about something. Bitcoin is a long-term game, so patience and understanding go a long way.

Also, make sure you take note of everything nutildah said above. He’s been around here for over a decade and really understands how the forum works. Everything he mentioned about avoiding scammers and doing your own research is very solid advice so make sure to apply it as you begin your Bitcoin journey.
Good luck

[kotajikikox]

Sorry to post this here as this is my first post and my aim of creating this post is to focused on bitcoin investment.. I have 500,000 in our local currency but I would want to take that bold step to start it with my bitcoin journey, my friends who is into bitcoin directed me here and for that I decided to make topic because he was trying not to involved himself like, so that I wouldn’t blame him for anything lose or whatever that may happened to my funds so he directed of me to create topic and follow the guidelines they would be replying here.

You will learn a lot from this forum and I understand your friend for not wanting to bear the responsibility in case you end up doing something. Not to scare you or anything but since we are talking about money, it could be sensitive for most.

I know this is nothing to some of you who has been here for decades or years as the case may be, but I just want this process to be productive and rewarding because I have planned to hold bitcoin for at least 4 or 5 years based on the information I had about halving, I don’t know how true this could be but I believe that my present here would never be regretted joining this forum and I believe to meet same like mind of people who will be that willing to open up to me to give me what I need to proceed my bitcoin investment journey.

You do not need to be doubting us or your friends or whoever you may have heard about halving. It is true and you can just check previous cycles and you can observe how much the price has risen between years. What we say about bitcoin is based from the past and you can check it yourself.

[Die_empty]

Thank you for everyone who has made this forum a very interactive place and learnable centre. Please could someone who is that open to share things with me directs me well?

Before you invest, you have to take some time to learn about Bitcoin. You should learn how to use wallets so that you know how to set them up and send your coins to them. I don't know the currency you are referring to, but you can consider buying a hardware wallet if the funds are huge. You should also learn how to protect your wallet from hacks because there are many criminals out there who are looking for ways to steal from you. At this stage, just focus on buying only Bitcoin. Don't be deceived by influencers or shitcoin promoters who might want to push you to buy these worthless coins.  

Bitcoitalk is a good place to start your Bitcoin journey. Welcome to the forum.   

[ghan7300]

An old friend of mine was the one who first introduced me to Bitcoin investment.
 Back then, he never told me about BitcoinForum directly, but he used to outsource his posts and pay a small amount to get his content written.
 It’s been about 6 years since we went our separate ways, and now he runs his own account independently.