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Author Topic: New to bitcoin  (Read 3428 times)
helgibelgi
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« on: January 28, 2014, 07:23:28 AM »

Hi there

I wanna get started with bitcoin. I have set up a wallet (although I still need to secure it).

I'm looking for the best online platform to buy and sell bitcoins. This will be mostly for speculative reasons, at least while the price is fluctuating so rapidly.

I saw localbitcoins.com mentioned in another thread. But as it was posted more than a month ago, I'm not sure if it is still a good option. What do you guys think?

For the time being, I'm not too concerned with anonymity. Just looking for a cheap and reliable online platform to begin trading.

Also, what is your preferred payment method? Do you usually meet the guy in person or use something like paypal?

EDIT: I forgot to mention that I do not live in the USA. Just discovered that coinbase.com requires a US bank account, so I guess that's out.
EDIT: I found this page https://en.bitcoin.it/wiki/Buying_Bitcoins_(the_noob_version) and according to it, Paypal doesn't seem like the way to go except with a workaround and higher fees.
« Last Edit: January 28, 2014, 10:09:30 AM by helgibelgi » Logged
Seth King
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« Reply #1 on: January 28, 2014, 02:59:37 PM »

Check out bitstamp and btc-e.

I recommend against short term speculating. Go long on BTC and you'll be a happy camper. That's my two bitcents anyways.
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helgibelgi
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« Reply #2 on: January 29, 2014, 07:39:44 AM »

Check out bitstamp and btc-e.

I recommend against short term speculating. Go long on BTC and you'll be a happy camper. That's my two bitcents anyways.

Thanks Seth, I guess it's the same philosophy as with buying gold/silver, keep buying and stacking when the price is right?

For speculating it seems that websites like plus500 and other online trading platforms are the way to go. Seems like buying/selling bitcoins on the other sites (bitstamp, coinbase etc) take so long to actually go through (days? or have I got it wrong?).

Anyways, seems like I'll be going with Bitstamp, just need to get all the paperwork ready to get verified. Off to the bank I go.
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SinCityVoluntaryist
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« Reply #3 on: January 30, 2014, 02:20:42 PM »

Helg, for BTC purchases, I recommend Coinbase. They've become the premier merchant for Bitcoin purchases on the web. Reasons why they're good:

1) They're located in the U.S. (the companies that Seth mentioned are in foreign nations and I don't recommend hooking up your checking account with them)

2) They're very open about their business practices. They've been mentioned in Wired, Forbes, etc.

3) The interface is very easy to use and is encrypted with trustworthy technology

 And I would not recommend BTC-e. That company is located in Russia and I here their business practices are very shady.
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SinCityVoluntaryist
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« Reply #4 on: January 30, 2014, 02:28:17 PM »

OK. Ignore my last post. I just noticed your info about not being in America. In that case, go with Bitstamp. They're the 2nd most popular platform next to Coinbase.
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KaFunf
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« Reply #5 on: January 30, 2014, 11:37:23 PM »

Is Bitcoin mining still worthwhile with the price as high as it is?
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SinCityVoluntaryist
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« Reply #6 on: January 30, 2014, 11:59:19 PM »

 Unless you have a $2,000+ rig, mining isn't going to land you the anywhere near the returns that you would have gotten two years ago.
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Disengage
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« Reply #7 on: February 01, 2014, 11:59:34 AM »

Mining as a profit-seeking activity isn't for the average person any more.   Unless you're doing it as a learning experience, it isn't worth thinking about.     
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MAM
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« Reply #8 on: February 20, 2014, 08:56:42 PM »

Quote
Mining as a profit

I'm not even sure this is  possible anymore. At some point there is going to be transaction fees.

Mt. Gox is one of the shittest services.
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seanwilliam1988
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« Reply #9 on: March 03, 2014, 03:27:38 AM »

This bitcoin inforgraphic from bitcoindaily.com might help you to understand and learn more about bitcoin. It will help you answer all your queries about bitcoin.
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Bitcoin Daily - One-stop bitcoin daily news portal.
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