How To Get A Bitcoin Address & Why It Is Important
How To Get A Bitcoin Address & Why It Is Important
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Beginners guide to buying Bitcoin and other Cryptocurrencies
A super quick guide to getting started with bitcoin and other cryptocurrencies. 1) Coin Research There are lots of coins you can buy, trade, or mine not just Bitcoin. You can see them and start research on coins using https://coinmarketcap.com/ 2) Getting Money In You first need to get your money on the exchanges. There are a few decent options for this.
3) Sign up and get verified Pretty much any site you want to trade on or send money to is going to ask you to also get verified which means you'll need to send them a picture of government issued ID and utility bills in some cases. After you sign up for an exchange site you'll usually need to log in and go looking in the settings for how to get verified. 4) Exchange Security When you signup for any site you'll also want setup 2-factor authentication with Google Auth. You can usually find instructions in the settings section of the site you just signed up for. IMPORTANT: Make sure to save your recovery keys because you can get locked out for good and lose your money if you don't. 5) First Coin Purchase Once you have some money in play you typically purchase Bitcoin or Ethereum first. You can hold those and pray for profit or you can start trading them for other coins. 6) Second Coin Purchase Do you want to buy more than just Bitcoin and Ethereum? Most other coins you want will be on a couple of different websites
7) Sample Workflow Assuming you have your accounts setup, a general workflow would go something like this.
Send money to quadrigaCX
Use those funds to purchase Bitcoin on quadrigaCX
Login into bittrex and get your Bitcoin address from the wallet section of the site
Go back to quadrigaCX and use the withdraw option and send your funds over to the bittrex wallet address
The funds will show up in bittrex usually 30min to 2hrs
On bittrex use your bitcoin to buy other currencies
8) Wallets Intro You don't want to leave your money or coins on exchanges since they are prone to hacking. So you'll want to research wallets. 9) More on Wallets Wallets can be a pain and take some research but taking the time to keep your funds secure is vital. Some quick wallet points
There are many types of wallets.
The general idea is that wallets have a public key and a private key.
Whoever owns the private key owns the wallet.
When your money is on an exchange the exchange owns the private key which means they technically own/control the money.
If you send the money out of the exchange to your own wallet then you own the private key.
Most coins have their own wallet with specific instructions on setting it up and keeping it secure.
There are some general purpose wallets that hold many coins (see Jaxx Wallet and Exodus Wallet)
Good wallets you will want to look into are Jaxx, Exodus, myEtherWallet, metaMask, coPay
IMPORTANT. If you lose your private key to your wallet you will lose your money forever. Ask yourself. If I lost my phone do I still have my private key? Ask yourself. If I lost my laptop do I still have my private key? If my house burned down do I still have my private key? And never give anyone your private key for any reason.
IMPORTANT. There are many scammers that will try to get your private key. Never give anyone your private key under any circumstances.
10) Crypto really does require constant research
Research trading with bittrex on youtube
Research creating cryptocurrency wallets on youtube
Research ICO investing on youtube
Research myEtherWallet on youtube
Research etherDelta on youtube
Research metaMask on youtube
Research Jaxx on youtube
11) Successful trading and investing Coin prices fluctuate wildly because there is not a ton of volume. This makes it difficult if not impossible to predict price changes using any sort of technical analysis. Doing slightly longer-term investments will likely serve you better. To be successful you need to research good quality coins that are undervalued and then feel the buzz in the community and anticipate undervalued coins rising up. This requires constant research of coins and ICOs plus being on reddit/twitteyoutube multiple times a day. 12) More trading and investing tips Get in early with undervalued coins. Don't follow the masses chasing the green when a coin is on the run going up. The majority of the time you'll end up buying at a high price just to watch the coin fall back almost as quickly as it went up. You'll often hear the term pump-and-dump to describe this. Avoid it. Look for quality investments that you can hold through the ups and downs. That's sort of the quick starter guide A good link for more detailed info https://mycrypto.guide/ If you're looking to get into ICOs https://apifini.com
I was banned from /r/bitcoin for simply saying another user sounded like a bot for spamming the forum over and over with the same posts
essentially, the same user keeps posting the same post over and over in every thread. in some posts the user isn't even responding to the question OP is asking, and just posting their template. this led me to ask them "are you a bot": https://www.reddit.com/Bitcoin/comments/3qa0kp/blockchaininfo_down_for_maintenance/cwdbvzp they complained to the mods and admins who had me banned from /bitcoin. in an attempt to help clear my name and tell the mod that this person is spamming the forum and my "accusation" that they are a bot is not unfounded, I sent this message which just shows a sampling of posts from this user spamming the forum. so basically, this user is allowed to spew his spam all over the sub and i get banned because his feelings were hurt because i downvoted him and called him a bot!
Copay currently supports Bitcoin and Bitcoin Cash. There are several wallets, such as Electrum , that have all of the above seven features and more—so what makes Copay special? Previously, we could have cited Copay’s in-wallet facility for coin purchases, but this is no longer available following Visa’s withdrawal of support . Learning how to trade on crypto exchange in 2018 The developers of Bitcoin Cash offered a new address format This week, the leading developer of the Bitcoin ABC client, Amaury Schet, suggested adding the Bech32 address format to the Bitcoin Cash (BCH) network. Currently, the BCH community is discussing the modificatio For everything but Bitcoin, the search-and-replace has a single replacement address, presumably one owned by the crooks, but for Bitcoin transactions, the criminals have tried to be a bit more subtle. What does a Bitcoin address look like? Your BTC identifier is a string of 34 letters and numbers that identify your Bitcoin wallet. BTC addresses begin with either a 1 or a 3 and are case-sensitive. Bitcoin wallet address example. When you want to receive funds, this is the information that you provide to the person paying you. Your BTC address is oftentimes called your wallet or public ... A Bitcoin invoice address, or simply invoice, is an identifier of 26-35 alphanumeric characters, beginning with the number 1, 3 or bc1 that represents a possible destination for a bitcoin payment. Invoices can be generated at no cost by any user of Bitcoin. It is also possible to get a Bitcoin invoice address using an account at an exchange or online wallet service.
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