Question about BTC

[Deezbowz]

Although I've never used or acquired crypto currency is there a ''go to'' website that people of Scythe use for BTC? Very few people are willing to do PP cause of potential charge backs which I can understand. Any advice would be most helpful!

 

[Warface]

Hey man, I feel most people are using Coinbase at the moment. There are other popular wallets such as Electrum, Blockchain & Trezor.

Probably best to just check one out and see what is most user friendly for you. I would recommend Coinbase though. Hope this helps.

 

• Coinbase
  
• Blockchain
  
• Localbitcoins
  
• UpHold
  
• CashApp

 

[Minebreak]

Most use blockchain or coinbase. I prefer coinbase because you can send/receive via email with other people who have coinbase, and transactions that way are instantaneous.

 

[Deezbowz]

Thanks for all the replies! Seems Coinbase is the most common choice.

 

[Abe]

In short, there is always a risk to this type of market because of how fast things can go up and down.

What I would humbly suggest to you is that you only risk what you can afford possibly losing or losing a big value of whatever X amount.

 

[Obamaphobic]

I recommend coinbase

 

[jimbandz]

CoinBase and CashApp are the best two. A couple other semi good ones are Localbitcoins and Paxful if youre looking to make money flipping BTC and other coins for a %profit.

 

Realistically it depends what you plan on buying or doing.
If you plan is to setup a business I would recommend getting a self stored wallet like these hardware wallets as soon as possible:

-Ledger
-Trezor

However if its just a few transactions here and there Coinbase should suit your needs just fine.

 

For simple buying and selling of crypto Coinbase.com is your best bet with instant and free sending through emails. For holding crypto for long periods of time use cold storage hardware wallets to ensure it is 100% safe.

 

[AntwanJon]

Coinbase is what everyone uses at the moment. Paxful is great as well

 

[lcdmattylcd]

Coinbase would be your best option buddy, it instant to buy and instant to withdraw/sell (or instant withdrawals for me, think it varies bank to bank)

 

[Veni]

Anyone have Uphold experience? Have seen it on the Android store and it seems very cheap from a fee perspective.

 

[framedrsps]

Anyone have Uphold experience? Have seen it on the Android store and it seems very cheap from a fee perspective.

I've had great experience with uphold, been a great service.

 

[Veni]

I've had great experience with uphold, been a great service.

Nice, thanks I thought it looked solid. Will try it out.

 

from what I have heard dont keep balances on coinbase, generally if you send it to an address within 5 degrees of something bad (ie gambling sites etc) then they will ban you.
what I personally do is user electrum to store my btc & only take payments on coinbase to people who want to use it, then immediately cash it to my local wallet

 

[Bizarrely]

If you're looking to get into Bitcoin, now is the ideal time. If you invest into over the next 2 weeks you're almost guaranteed to make a profit thanks to the "halving".

The halving block event, according to Bitcoin Block Reward Halving Countdown

As part of Bitcoin's coin issuance, miners are rewarded a certain amount of bitcoins whenever a block is produced (approximately every 10 minutes). When Bitcoin first started, 50 Bitcoins per block were given as a reward to miners. After every 210,000 blocks are mined (approximately every 4 years), the block reward halves and will keep on halving until the block reward per block becomes 0 (approximately by year 2140). As of now, the block reward is 12.5 coins per block and will decrease to 6.25 coins per block post halving.

This means that the supply of bitcoin is halved and the demand increases.

I use coinbase, I also have a blockchain account but I've not used that in years. I don't use it to trade, I just hold onto it and sell whenever my IRL funds are low, so maybe the advice from @LordZuku about using two wallets may be useful if you spend your BTC.

 

also, one more thing I didnt mention coinbase is trash for sending to external wallets due to you not being able to set the fee at which you want the transfer to go through at

so like if im transferring money to / from a trusted friend of mine ill set the lowest fee, itl take 3-5 hours but itl cost me pennies to transfer.

coinbase only lets you use high fees which is normally between $.5-$1

 

Coinbase is the exchange of my choice. Once you get set up though it becomes easier. Now I can just exchange currencies from other Sythe members rather than pay fees to buy BTC on Coinbase.

 

coinbase and blockchain thats what i using..Coinbase would be your best choice , cause you can buy crypto directly from your bank