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Looking to get into bitcoin?

Looking to get into bitcoin?

JAYron
Joined: Sep 2016
Posts: 6

JAYron
Joined: Sep 2016
Posts: 6

Looking to get into bitcoin?
12/24/2017 at 2:06 PM

As we all know bitcoin has been gaining popularity these past few months. In november it caught my interest and I signed up and bought my first share of bitcoin (btc). In the past month I've watched btc jump from 10k to 25k, mind you its very volatile and is sitting around 18k today.

If youd like to get started with bitcoin I am going to give you some steps on how to buy your first share of btc.

There is 3 exchanges I use:

Coinbase- used to buy bitcoin, ether and litecoin in small amounts -$250 until your limit moves up. It has a very user friendly app for IOS and android and gives up to date market prices.

Quadriga- used to buy and sell bitcoin, ether and litecoin in greater volume, $500+ is the minimum funding for most purchases.

Binance- used to buy alt coins.

step 1: buy btc from coinbase, register your account https://www.coinbase.com/join/5a134af220f2ef00bc0ac005 and add a payment option. from there it may be instant or a small delay to see your coins in your wallet.

step 2: send your btc to quadriga to sell for CAD $. register your account https://www.quadrigacx.com . once you are registered you can then "fund" your wallet by sending your btc from coinbase to quadriga by copy and pasting the wallet address.

step 3: selling your btc for CAD, log into quadriga and click on the trades icon, then you can place a sell order for current market prices or list your own and when the price of btc rises to your listed sell price it will automatically sell. Then you can withdraw your CAD by a few options, Email money transfer which can take up to 2 days, cash delivery which is cash sent to your address via canada post or a courier, bank wire transfer, etc.

If you want to purchase Alt coins, you can register your account at https://www.binance.com there is dozens of alt coins ranging from .03 per coin to $3000 per, you send your btc or ether from coinbase or quadriga to binance and then buy your alt coins using those 2 funding methods you sent.

Ether has less fees to send from wallet to wallet then bitcoin does.

as with any investment please do your own research and homework. this is a very volatile market but there is great success if you have been watching the market.
Edited by admin, 2017-12-26 09:27:59. Reason: removed referral codes
Cruiser

Joined: Sep 2006
Posts: 539

Cruiser
Joined: Sep 2006
Posts: 539

Will watch this thread
12/24/2017 at 2:13 PM

I’ve found this to be quite interesting and thought about purchasing at some point but know very little about this or even how to go about doing this. Will follow this thread closely, thanks for the information you shared here.
JAYron
Joined: Sep 2016
Posts: 6

JAYron
Joined: Sep 2016
Posts: 6

no problem
12/24/2017 at 2:22 PM

ive had some great returns buying POE https://po.et/

the perks of "penny stock" coins is theyre very cheap and add diversity to your portfolio, most of these alt coins are in the early stages and could very well be the next big coin. this week alone POE was 0.02 per coin now its 0.04 so if you own enough of them you see the increase of value overnight.

hobbes
Joined: This month
Posts: 1622

hobbes

Joined: This month

Posts: 1622

...

12/24/2017 at 3:01 PM

JAYron said "As we all know bitcoin has been gaining popularity these past few months. In november it caught my interest and I signed up and bought my first share of bitcoin (btc). In the past month I've watched btc jump from 10k to 25k, mind you its very volatile and is sitting around 18k today.

If youd like to get started with bitcoin I am going to give you some steps on how to buy your first share of btc.

There is 3 exchanges I use:

Coinbase- used to buy bitcoin, ether and litecoin in small amounts -$250 until your limit moves up. It has a very user friendly app for IOS and android and gives up to date market prices.

Quadriga- used to buy and sell bitcoin, ether and litecoin in greater volume, $500+ is the minimum funding for most purchases.

Binance- used to buy alt coins.

step 1: buy btc from coinbase, register your account https://www.coinbase.com/join/5a134af220f2ef00bc0ac005 and add a payment option. from there it may be instant or a small delay to see your coins in your wallet.

step 2: send your btc to quadriga to sell for CAD $. register your account https://www.quadrigacx.com/?ref=ladbx5lrctwmlg6kxlg5abhr . once you are registered you can then "fund" your wallet by sending your btc from coinbase to quadriga by copy and pasting the wallet address.

step 3: selling your btc for CAD, log into quadriga and click on the trades icon, then you can place a sell order for current market prices or list your own and when the price of btc rises to your listed sell price it will automatically sell. Then you can withdraw your CAD by a few options, Email money transfer which can take up to 2 days, cash delivery which is cash sent to your address via canada post or a courier, bank wire transfer, etc.

If you want to purchase Alt coins, you can register your account at https://www.binance.com/?ref=11985788 there is dozens of alt coins ranging from .03 per coin to $3000 per, you send your btc or ether from coinbase or quadriga to binance and then buy your alt coins using those 2 funding methods you sent.

Ether has less fees to send from wallet to wallet then bitcoin does.

as with any investment please do your own research and homework. this is a very volatile market but there is great success if you have been watching the market. "

Curious...what is your kickback if someone uses one of your referral links?

don brown
Joined: Aug 2010
Posts: 4956

don brown
Joined: Aug 2010
Posts: 4956

Be carefull
12/24/2017 at 4:44 PM

If you are going to purchase Bitcoin you should realize that some of the claims made of the crypto currency has sort of been disproved in the last while, the security issue has sort of proved false with accounts being hacked and Bitcoin being lost. The idea of unregulated seems to have also fallen, on Friday the trading on the currency was stopped twice because of massive moves on the value.
What becomes interesting now is the physiology of the market, and if it follows the history of other markets that create bubbles the moves become more extreme, and with it now being traded on financial commodity markets, it will be interesting.
Calling the top of any market is impossible, but I know of one algorithm that put the Bitcoin is a sell at $16,868, not saying that algorithms are alway right but they do usually measure the phycology of a market. There are a few other things that also apply to this market, one being the expectation that the commodity will move to extreme prices, I think Allan Greenspan called it unsustainable exuberance.
Oh well, time will tell, just don't risk money you can't afford to lose.
PLightning
Joined: Mar 2012
Posts: 31

PLightning
Joined: Mar 2012
Posts: 31

Coinbase
12/25/2017 at 9:54 AM

Canadians can buy bitcoin etc on Coinbase

But Canadians cannot withdraw your money when you sell your bitcoin etc on coinbase

I suppose you can get your money out by transferring your bitcoin from Coinbase to some kind of wallet and then transfer them to another exchange, sell them there and then withdraw your money. Not really an easy straightforward process
JAYron
Joined: Sep 2016
Posts: 6

JAYron
Joined: Sep 2016
Posts: 6

Did you read step 2?
12/25/2017 at 3:23 PM

Transferring from Coinbase to QuadrigaCX takes 5 minutes to complete.

You’re not able to sell your btc on Coinbase anyways, it’s just a user friendly way to purchase small amounts if you aren’t committing to a large sum which you’d buy on QuadrigaCX.

Edited by JAYron, 2017-12-25 15:24:53
rum
Joined: Mar 2013
Posts: 188

rum
Joined: Mar 2013
Posts: 188

My thoughts
12/25/2017 at 3:42 PM

My thoughts on this is the people who got in early will make a killing. The majority of the rest will make minimum or take a loss. I think we are on the edge of of its potential money making potential. I definitely wouldn't take the risk.

But that's mine UNprofessional opinion
PumpkinKingXV
Joined: Dec 2017
Posts: 2

PumpkinKingXV
Joined: Dec 2017
Posts: 2

my 2 cents
12/25/2017 at 6:53 PM

Or sit back and enjoy them go up, if you have been mining them since 2012. With the current price they are at, I have paid for my equipment tenfold (this is including continuously upgrading equipment) I now mine Litecoin and it is looking to be a good virtual investment.

https://en.wikipedia.org/wiki/Litecoin

For one to invest in Bitcoin now, in my opinion, isn''t worth it. I''d suggest getting into the smaller virtual currencies now. With Litecoin being a good option.

(please delete this post, wasn't meaning to make a duplicate)

Edited by PumpkinKingXV, 2017-12-25 19:01:44

PumpkinKingXV
Joined: Dec 2017
Posts: 2

PumpkinKingXV

Joined: Dec 2017

Posts: 2

If one wants to try mining

12/25/2017 at 7:00 PM

PumpkinKingXV said "Or sit back and enjoy them go up, if you have been mining them since 2012. With the current price they are at, I have paid for my equipment tenfold (this is including continuously upgrading equipment) I now mine Litecoin and it is looking to be a good virtual investment.

https://en.wikipedia.org/wiki/Litecoin

For one to invest in Bitcoin now, in my opinion, isn't worth it. I'd suggest getting into the smaller virtual currencies now. With Litecoin being a good option. "

If one wants to try the "mining" part of bitcoin. Windows 10 has an app on the app store, for you to mine bitcoin and litecoin.
The bitcoin one will let you cash out at .0005, which is about $.70 . (it takes about a week of the app running to reach 5000 satoshis)

Same goes for the litecoin app.

you can adjust the hash rating in the app,between using just your CPU and GPU. Not a bad thing if you just want to have a little bitcoin or litecoin.

Edited by PumpkinKingXV, 2017-12-25 19:03:21

MichaelP
Joined: Feb 2017
Posts: 57

MichaelP
Joined: Feb 2017
Posts: 57

Do your research
12/26/2017 at 12:00 AM

First off, I would suggest anyone getting into crypto currency to first do your research and UNDERSTAND what it really is and the risks involved. The original poster forgot to mention the process of properly transferring the currency into a secure wallet/cold storage. If you do not do this your money is subject to hacking. The exchanges are pretty vulnerable to this.

I would suggest everyone to YouTube "Andreas Antonoppulos". He has hundreds of hours speaking about crypto and blockchain technology.

If anyone has questions feel free to DM me. Be happy to give new people some insight to this extremely intriguing world.
yuppers
Joined: Aug 2015
Posts: 24

yuppers
Joined: Aug 2015
Posts: 24

misinformation
12/26/2017 at 9:32 AM

Trying to tell people how " simple and easy" it is to get into cryptocurrency and to just jump in and sign up is a just horrible advice. Failed to mention anywhere that you have to be prepared to go thru the verification process on all sites, which some people will not be comfortable with doing online ( giving photo id, personal doucments, etc) . Also, that currently with the influx of people trying to get into crypto verification can take up to 2 weeks ( used to take max 24 hours). Anyone wanting to get involved in crypto, do your own homework, and dont rush in. You have already missed the bitcoin rush, and that bubble only has so much time left, but there are many other up and coming gret crypto investments. Treat them as such.. an investemnt. Do your homework, and dont just follow the first bit of instructions some guy posts on ebrandon. There are also countless other sites and exchanges for bitcoin that you can read up on, and choose the right one for you. Saying that you shoulud just use quadra, binance, coinbase, etc, is like saying everyone should just bank at RBC. There are way more than one option. Also failed that to use the sites he mentioned you have to use credit card to purchase, where as there are other sites that you can do money wires and debit payments...
Hey!
Joined: Sep 2010
Posts: 284

Hey!
Joined: Sep 2010
Posts: 284

.
12/26/2017 at 10:40 AM

It’s easier to buy but you can still mine alt coins using a high end video card.

Remember to keep a record of transactions for the CRA.
RugbyMom
Joined: Apr 2007
Posts: 42

RugbyMom
Joined: Apr 2007
Posts: 42

Be Smart
12/26/2017 at 10:46 PM

Get a hardware wallet. I went with a Nano Ledger s.