Hello all,
I'm new to this and have started learning about the characteristics of bitcoin, how to mine it and the pros and cons of it. Although I have learnt the basics of mining, I personally don't plan on doing it as simply put I do not have the resources to do so. So rather than mining, I am looking into purchasing BTC through localbitcoins then transferring it to my Electrum wallet.
My questions are: (some of these have been answered in older threads but I just want to be reassured please)
- Would you advise on purchasing BTC now before August 1st?
- Is it advisable to use Electrum to store the coins? I have encrypted it and written my seed on paper.
- Would you say, in your opinion, ETH would be a good investment?
I only plan on purchasing a small amount of BTC (3-4) to start with.
If you have any books (or articles) you'd like to share that'd be a good read, please do share!
Thanks,
Makkie
Do not buy bitcoin now because the price is still going up, if later the price goes down it is the best time to buy bitcoin. Using Electrum to store the coins is a good choice and I also do that. As long as you have private keys you will safely store your bitcoins. Do not forget to save the privat keys. ETH is a good investment, maybe that's true. Because the price of ETH is now down and there is the potential to rise again, you can also invest there.
Taking bitcoin in consideration,if segwit2x happen then price will boom ,and other altcoin price will go rapidly down.then you have a great opportunity to buy major altcoin or ethereum tokens ,tokens are much more profitable then any other altcoin as project will buy back token at ico price that remove chance of loss of your money.