Coinbase. Buy 1 bitcoin. Send it to me. I will get a referral reward, split it with you and send you 2 bitcoins back.
pick an exchange (coinbase, cashapp, robin hood), make a weekly purchase with a set amount of $ you are comfortable with, then just hold it and watch the value skyrocket when you get more comfortable/knowledgeable with the technology, consider moving your bitcoin to a hardware wallet (equivalent of holding your own cash/gold)
I don't really know much about the crypto currencies but have been looking into lately. Maybe one of y'all can help explain to me what the difference between BTC and BTC.X is? I keep seeing various symbols for Bitcoin include the previous two as well as BTCUSD and so on when looking at different sites. Also, on my Robinhood app, it has the 1 day chart and live chart for BTC but they are vastly different in price. Is this because the swings happen multiple times a second? Thanks in advance for any help.
If you're investing for the long term, just buy bitcoin and don't touch it. Foolish to think you can trade the latest fad shitcoin knockoff and make money. Bitcoin market is 24/7, so yes the price changes in real time. But if you dollar cost average (i.e. buy $50/week for example), it evens out over time. In order to have the psychological conviction to hold something this volatile in the short-term, you need to arm yourself with knowledge
Man, I was trading a ton and at one point some of my money got held up on an exchange, it's still there but I don't think it's worth giving my ID/photo etc to get it unless it rockets. I basically made some money off garbage, got my original investment out after doubling it and was playing with house money. If I re-up in btc, I'm probably going to skip the quick gains and just put it on a wallet. The altcoin phase was insane for quick gains but unfortunately a lot of people got burned sitting there and not cashing out, or being in some altcoin and not just staying with btc. Don't get me wrong I did enjoy the insane gains from the alt fad, but I think btc is currently the only one I'd bet on gaining long term.
Right, this is pretty much what I'd recommend at this point if someone new is doing it. And don't put money in you can't afford to lose ie life savings, but I still think there's money to be made in btc.
Much appreciated. I have no interest in any other coin. I threw some money I was just going to waste elsewhere at bitcoin in the Robinhood app. I don’t even own a coin bit I have a percentage of one.. Is holding it on Robinhood a good idea or no? Can you just cash it out like a stock or is it more difficult? I have no intention of pulling it out anytime soon, I’m just putting some in there to see where it is a few years from now. I’m not opposed to tossing some extra cash at it that I otherwise would waste on games or some other **** until I get a few coins saved up. Just wondering the best way to handle it if it does have a big gain at some point. Thanks again
So Robinhood is probably fine (better than some other exchanges) and since you're at a % of a coin, but as you get a substantial amount $1k USD + Value (you might already be there), it's probably worth moving to a hardware wallet and off the exg. The only reason to have coins on an exchange is if you're actively trading in and out of a currency - so back and forth between cash/btc to get gains during ups/downs (you really have to pay attention, you dont want to to jump out and then suddenly it's up a couple grand) or when trading other coins etc... Alt coin trading doesn't seem to be fun like it used to. Anyway, on your other question, can you give me an example of BTC being labeled differently? Typically on all major exchanges, the original BTC/Bitcoin is just BTC, the ones with extra names are forks or different coins altogether. So in this case you'd want to just stick to straight btc (bitcoin), so not btg (bitcoin gold). This is just one example of a fork but there's multiple. On a side note if you do start trading pay attention to the pairing, like a coin can be losing usd, but can look like it's gaining under another pairing. So I always suggest you look at the true usd/btc value, unless you're heavily involved and moving crazy money and time it right.... It's also dangerous to not watch the actual usd value and especially the 24 hour volume traded... People will be new and get stuck with **** coins not realizing the traded value amount before they bought $1000s worth only moved like $3 in volumes for the last 24 hours but looked like it decreased/increased 1000% in value. Then when you thought you found some secret coin you can't move it because it was an artificial pump to get people that are new stuck.
https://support.kraken.com/hc/en-us/articles/360001206766-Bitcoin-currency-code-XBT-vs-BTC Bitcoin currency code: XBT vs BTC Being that Bitcoin is decentralized, there is no standard, nor governing body, to dictate what notation should be used for it. Nonetheless, "BTC" has been the generally accepted abbreviation for Bitcoin stemming from the early days of Bitcoin. "XBT" is a new abbreviation for Bitcoin that is starting to come into use, and reflects its growing legitimacy as an international currency. The abbreviation "XBT" comes from the International Standards Organization (ISO) that maintains a list of internationally recognized currencies. The standard dictates that if a currency is not associated with a particular country, it should begin with an “X”, hence "XBT". Another example of this is the abbreviation for gold, "XAU".
don't become a bitter no-coiner, get on board the rocket before the next moon shot market is ignorant of the supply shock from the bitcoin halvening event that occurs every four years (we are about to hit the next one in May 2020) I lament that there is no way to convince most people until the opportunity has passed them by
