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
Welcome to Bitcoin, Makkie!
Here my answers to your questions:
- Would you advise on purchasing BTC now before August 1st?
Personally, I am monitoring the market and I will buy BTC when it hit $1800 to $1900 before 1st of August.
- Is it advisable to use Electrum to store the coins? I have encrypted it and written my seed on paper.
It is better to store your BTC in paper wallet.
- Would you say, in your opinion, ETH would be a good investment?
If it is for the long term, I will say yes. But maybe you would like to consider Antshares.
Just 5 days is there, and the price is now $2700. In just 5 days the price will drop $1000 is it possible and is there any reason to fall price suddenly. I don't think again the price will go under $2000. So you already missed the right chance to buy bitcoins. You want to wait then wait only 5 days left.