How do I get started in bitcoin

Coinbase or Binance Jersey I would suggest.

I think that’s like asking, should I buy gold or silver, or EURUSD or GBPUSD. It all depends on a multidude of factors.

Are you trading short term? Long term? Hodling? Which do you believe in more, volumes, etc. A Bitcoin ETF is definitely on the horizon. That can’t be said of the other two. What are the implications of that happening? What’s your risk profile like?

Lots of question to ask yourself. But as recent activity has shown, it’s still the wild wild west out there, with big, double digits swings happening in minutes and hours. You better be ready to face that.

Perhaps, if you’re truly wanting to get in, get a little of all three and rebalance as you see fit. There’s a thinking that the next “it” might not be any of the 3 you mentioned, and that the 3 could operate successfully along side the others (as they’re doing now).

There’s really no easy answer here.

Only one way to get started with bitcoin, buy some.

Just be clear with the basics first. Check the information available online, scroll down YouTube videos. I made a lot of use of Coinbase when I was a newbie in bitcoin.

Good day please. Please how can I link up my binary account though fiat eur/usd to trade bitcoin on binary forex please? Please & please

Good day please. Please how can I link up my binary account though fiat eur/usd to trade bitcoin on binary forex please? Joyce from Nigeria. I need your help please.

I’m imagining this is dependent on your broker or brokers. Who is your broker currently?

Good morning Sir. Please I just join this platform two days back and I’m a
newbie sir. Please I have not gotten any Broker yet. Please, help me out
Sir. Please & please. Thanks in anticipation

A lot of people are suggesting to use Coinbase and I too think that this is one of the best options for beginners. If you start working with major exchanges like Binance and hardware wallets it’s easy to get confused.

Bitcoin is the easiet way to invest and save money rather than taking your money to the bank save and with it been invested in bitcoin …it gives you more benefit amd rating in more and more times its been spend

Well, you should probably take most of your money to the bank because Bitcoin is unstable. Or invest in something that is more “for sure” and spend what you can loose on buying BTC and some other altcoins. Then your 90% of your profit will come from 10% of your investment :slight_smile:

Are you looking to buy and hold cryptocurrencies, or actively trade them? And where does binary forex come into the situation? If you don’t currently have any brokers, surely you don’t need a binary forex broker, correct?

I actually had the interest on bitcoin but, wants you to help reviews the Best one in for daily withdrawal or that i can withdrawn for 24hrs Sir. Thanks Sir

Again, it depends on whether you are simply holding the cryptocurrencies or whether you want to actively trade your account.

You’ll be best suited to find a broker in one of the major regulated countries, so US and Canada, the UK and Europe, and East (Hong Kong, South Korea, Japan, Singapore) and South East Asia (Singapore).

Again, it depends on where you live, whether you’re willing to provide KYC (know-your-customer) information to the exchange, and whether you already have some funds stored digitally in a wallet or with an exchange.

Some exchanges only allow funding an account with existing crypto currency, like bitcoin. No fiat currencies allowed.

Where do you live?

Thank you so very much Sir. I’m from Nigeria Sir (a resident).

I would look into Binance and Luno. Binance is available in most countries (definitely not the US), and Luno actually has an office in Nigeria, if I recall correctly. They have something like 2 million customers across 40 countries.

Alright Sir, I duly appreciate your responses Sir. God bless you richly for all assistants you’ve rendering please. Thanks

Buy some………

2 Likes

As a good rule of thumb, if you are a beginner, just starting, education and demo trading are key. If you plan to put any money into cryptocurrencies, even if just to hold it there, make sure it is money you are willing to lose. We are still in wild and interesting times, with double digit price movements happening in a matter of minutes. Be aware of that.

1 Like

I understand your explanations Sir. But, how do I start with the demo as a beginner please?/Thanks a lot