I’ve been thinking about buying bitcoin, but it seems too complicated for me. I don’t want to mess up my credit card number or something like that. But then again, with the craze for cryptocurrency these days, do you believe in the idea and long-term potential of Bitcoin and other cryptocurrencies?
Hi and welcome to the forum,
This is a link to a very long thread, but you will gain a lot of insight as to members’ opinions by reading through this thread. And I support this thread whole heartedly. The best way to approach a new idea is SLOWLY.
BTC does not have to be complicated. My brother (in the UK) told me he just went on line, opened a coinburp account, transferred some money in there and bought bitcoin. You could go the long route and try to understand all there is to know about crypto and open a trading account three months later. Or you could take the approach that all you want is some participation then learn as you go (like most people). In that case, spend an hour looking at simple service offers and do it £10 at a time.
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I don’t think Bitcoin is worth buying at the current price, but that’s just me personally. Plenty of other coins out there, but DYOR.
I’m currently only holding one called ElonGate atm.
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Trading Bitcoin is the same as trading everything else - buy low, sell high.
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I’ve just seen the pun. I hope this one will elongate for you quickly.
You’re making the right moves! Location is very important in this case, because the rates differ strongly. But the setup is small for real. If you’re planning to mine, you don’t have sufficient capacities. The short guide would be to read a bunch of information about what you’re doing – hundreds of articles like Bitcoin Fundamental Analysis: What Traders Should Consider (I’m not exaggerating). Then move to the location with better rates, find a huge location where you can place all your mining stuff, and start gaining solid gold. The most important in any business is to know what you’re doing, then you’ll achieve success!
This response seems “totally robotic” and not a very good AI match to the subject at hand either. Please acknowledge by return response, advising “I am not a bot”
Well, I believe the main thing which you should learn about bitcoin and any other asset is that you have to determine the support and resistance levels. These things always right and if you will learn how to do it correctly, then you will be able to find the best entry points. Of course, sometimes you will be mistaken, however it’s considered to be an inevitable part of trading activity. Moreover, you can get acquainted with such simple indicators as RSI for example, it will help you to determine whether the asset is oversold or overbought. I believe it’s everything you should know about finding the best entry point.