Wanted to invest a small amount in Bitcoin. How do I get started? 1) where can I buy? I don't see Fidelity or vanguard offer this, so how do I buy it? 2) what should in use for a wallet? Are there any trusted wallets that have good phone apps that allow monitoring of the Bitcoin?
Don’t do Coinbase ! Get robinhood ! Easier simpler and cheaper
Strongly discourage Robinhood for crypto
Robinhood to buy? And where to store?
I like coinbase pro.
Is that to buy and store both?
Yeah you can store there or transfer to your own wallet. Storing in coinbase pro is not secure. And probably you have heard this: you don't own it until you have access to your private keys which only happens if you transfer to your own wallet. But personally I keep them in coinbase pro these days in case price goes down quickly and I need to sell it. But keeping your coins in exchanges is usually not recommended
Paypal
Coinbase or hard token. F robinhood and webull for crypto.
What does F mean? the four letter word? Can't tell if you are recommending Robinhood or asking to stay away
I do not recommend rh or wb. It's like buying gold futures but waiting days to transfer the funds.
CashApp
I've been using this.
dont store on hot wallets lol
Are there any actual hot wallets left?
I store in Electrum, is that safe?
Bottom line, stay away from Bitcoin. The reason it’s so hard to buy is no reputable brokerage firm will touch it. Highly speculative, risky and tech skills required. Don’t “invest” anything you’re not ready to lose all of.
It'll be less than 1% of my total portfolio. Willing to lose it all, just want to get my feet wet and see what this all about.
As they say , bulls make money , bears make money , pig get slaughtered !!!! If we were to use your logic - one shouldn’t be driving ever ... Although I would say +1 on staying away from Bitcoin at this time , but I would recommend watching and pouncing when the $$ is right !
Late to the party. I don't where you're at but Binance is awesome! I know over 30 people who buy their BTC directly through there (including me). I also bought some from coin base before and I hear pay Pal in USA now sells them ? (I might be wrong ) In terms of wallets... A) depends on the exchange you buy from , if it's not trusted per se I'd say get a hardware wallet. B) if you're paranoid get a hardware wallet (it's black Friday too!) A decent one will set you back 100-200. C) depends how much you're buying. The amount I owe I keep on the exchange, but am looking into hardware wallets as we speak! Also you can get a binance debit card where you can spend your BTC anywhere with instant cash conversions. (Currently waiting for mine ) Hardware wallet suggestions : ledger nano or trezor. Pros and cons to both but again if you aren't storing huge amounts it won't make a difference ( unless you plan to hold shitcoins) As a word of caution please only invest what you're willing to lose (or at least 50% loss). Also whatever you invest I recommend a 5 year mindset. Meaning whatever happens keep it in there for 5 years (historically this is a 100% fool proof plan to have never lost money ). Please note ALL crypto realised transactions come under CGT(capital gains tax). The only exception is moving between your own wallets. Some examples: selling or exchanging between 2 different coin pairs are all CGT transactions. BTC 200k by 2021 eoy #hodlgang
Ha ha 200k .. Throw in fancy terms , jargon and sound like “ seems legit “ lol .: facts my friend , even if Bitcoin were to continue its trajectory for the past few years it cannot reach 200k ... Care to back up that Bull case with facts ?
Dude, out of the entire post you pick on the 1 line ... It's not my job nor can I be bothered to show you facts. Believe what you want 🙂 nothing in that post is unreasonable nor dangerous advice.
CGT?
Capital gains tax
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Coinbase.
To buy and store? Or just buy and then move the coin?
Depends on how paranoid you are or how much you're buying.