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Money Talk

What is the best way to start investing in bitcoin?

Submitted by NarukamiBites, , Thread ID: 171505

Thread Closed
12-05-2020, 04:33 AM
#1
I'm new to this whole cryptocurrency stuff but it's recently caught my eye. I want to start investing and maybe even mining but I don't know how or even where to start and what's the best approach. Anyone got any tips for a newb.

RE: What is the best way to start investing in bitcoin?

#2
It's probably a bit too late to start a mining gig unless you've got fat stacks of cash ready to throw at expensive electronics (unless your willing to bet processing power and electricity on unknown worthless coins to begin). The best way to invest in Bitcoin is by buying Bitcoin.

RE: What is the best way to start investing in bitcoin?

#3
13-05-2020, 12:42 PM
Coin835575 Wrote: I Would not recommend diving straight into bitcoin. look at some more volatile smaller crypto currencies and invest in those as you are more likely to make a profit from those. They also have smaller miner fees and transaction fees. eventually then when you have made enough from the smaller currencies trade it into bitcoin and use it to store larger sums of money. just buy low sell high.

This really depends on what kind of investor you are trying to be. Investing into any crypto at all is risky in my opinion, but to recommend trading even more volatile coins for someone asking for investing (and not day-trading) advice seems ignorant imo. OP if you'd like to invest long term and bet on crypto pay attention to the top of the markets and keep up on news with your investments. Also, it'd probably be a good idea to learn how the blockchain works and why it exists.

RE: What is the best way to start investing in bitcoin?

#4
13-05-2020, 12:51 PM
Coin835575 Wrote: Either way i'd say do your research and find what tactic suits you more. i did some mining a few years ago and then lost a lot of it to the nicehash hack. and tbh since then I have not really touched most of it and withdrew what I had on coinbase and left. but who knows what is in store in the future.

I couldn't agree more. DYR is thrown around a lot in the crypto community for a reason. And yeah a few years ago even was a bit late to be in the mining game unless you were throwing mad cash at it or mining the right coins (which is always right in hindsight). Guess what you could learn from this OP is to just learn learn and keep learning.

RE: What is the best way to start investing in bitcoin?

#5
my firts council, is to you study and understand the principles of the cryptos, why they exist, its not seen only like and investiment.

the you understand why ppl created the cryptos, you'ill be able to know how much money you can "spend/alocate" on crypto.

Minning is a bit harder, if you dont have relevant amounts of money to invest, you will need bet on an specific crypto that you understand and hope for your growth

RE: What is the best way to start investing in bitcoin?

#6
13-05-2020, 01:12 PM
xFrenzy Wrote: my firts council, is to you study and understand the principles of the cryptos, why they exist, its not seen only like and investiment.

the you understand why ppl created the cryptos, you'ill be able to know how much money you can "spend/alocate" on crypto.

Minning is a bit harder, if you dont have relevant amounts of money to invest, you will need bet on an specific crypto that you understand and hope for your growth
Smile

RE: What is the best way to start investing in bitcoin?

#7
14-05-2020, 09:07 PM
hacker007 Wrote: cudominer best CPU miner for multiple OS support.............................

Antminer the best Smile

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