Quote from: Ashutosh_Tiwari on August 29, 2017, 05:14:16 AM

i am new here wants to know how bitcoin work,if you can give me reference link or initial little amount of bitcoin to start up.
thanks.

Hi Ashutosh,

Welcome to the world of cryptocurrency and the forum. I too am new here, but I will try to share as much as I know.

1. Regarding the amount of Bitcoins to start trading with: This is something you have to decide. As everyone will suggest you to not play with more than what you can afford to loose. At any time your investment should only be an amount loosing which would not financially/emotionally hurt you much.
But at the very beginning when you are learning how to trade start with a very small amount. Perhaps 5k-10k INR.
I started with INR 5000 as my first investment, because I wanted to see how bidding and selling works
Next time, I invested 30k. When i will gain more knowledge and confidence, I will invest more.

2. You can invest in cryptocurrency in 2 ways:
a) Trading
b) Holding as a long term investment . Eg. You could buy a bitcoin and keep it for long term in the hope that its prices are only going to increase substantially over time.
Other currencies speculated to grow substantially over time are: Etherium, BitCoin Cash, Ripple, LiteCoin, DashCoin, Neo etc.

3. Trading may be long term and//or short term trading.
For either of these, one needs to learn how to read the charts. I myself am new to this, so cant comment on this much. But there are many videos on Youtube which give you an idea about this.

4. For trading, the only way (for Indians) is to buy bitcoins from an Indian Exchange like Zebpay, CoinSecure or UnoCoin.
All of these require you to provide your identification details when you register. This is required by law and is called as KYC.
These exchanges take anything from a couple of hours to a couple of days. My personal experience was ZebPay was fastest (took only 5-6 hours in my case), while CoinSecure was slowest (took about 10 days). Unocoin took 4 days in my case.
Although CoinSecure was slowest, but I have heard very good things about it, so I want to give it a try.

To know the rates at different exchanges, see this site:
http://www.bitcoinrates.in/

5. Next step is to transfer your bitcoin to an international exchange. There are a number of exchanges like Bittrex, Poloniex, Kraken, Bitstamp, CryptopiaGDax, CoinMama, Bitfinex, C-Cex, Bithumb etc. These differ in number of currency pairs (among which you can trade), fees, exchange rate and availability in different countries.
See these links for a comparison of some of the most popular exchanges:
https://blog.infinitemlmsoftware.com/top-bitcoin-exchange-list-2017/#.WaQYzT4jGpr
https://99bitcoins.com/best-bitcoin-exchanges-comparison-review/

See this link for a list of cryptocurrencies and exchanges where they are supported:
https://cryptocoincharts.info/
coinmarketcap.com/all/views/all/

I personally use Bittrex for its extremely easy intuitive interface. However, I will soon start trading on Poloniex as well because:
a. the volume there is higher than on Bittrex
b. You should keep your coins in multiple different exchanges because if one exchange gets hacked, your rest of the coins are safe
c. There are some currenciies not supported on Bittrex, but supported on Poloniex. Vice-versa is also true

6. On the other hand, If you dont plan to trade and just want to buy bitcoins for long term holding, then remove your coins from online wallet to an offline wallet asap

This is all I have learnt till now, and I have shared it here. If I get to know more, I will add later on.