How to safely invest into Bitcoin without mining

CryptoGuru Level X³

October 19, 2016, 5:33 pm

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So many people are interested in Bitcoin and other Digital currencies but don't know enough about it to be able to make the smart investment. Investing into digital assets is alot easier than you think. Its keeping your money safe thats a little more tricky. Today im going to explain a little bit of both.

How to invest into Bitcoin without having to purchase expensive mining equipment. First all you have to do is make sure you have the amount you want to invest in the bank. after you have that situated you need to find a online trading website that operates in your country. I use Coinbase here in the USA and i believe they support Canada as well. Once you link your bank account with this site you will be able to deposit or withdraw money from this site.

How to keep your money safe? Once you have your coins on the trading site of your choice, now you can move it to a hardware wallet. Hardware wallets are USB drives, computers, Etc.Bitcoin wallets are more vulnerable to hackers when they are online. Hardware wallet allow you to stay offline and free from attack. Its simple to move your coins from your trading site to your hardware wallet. This will keep your Bitcoin safe.

Avoid con artist at all cost. Having a hardware wallet is a good plan but how do you watch for con artist saying they can sell you Bitcoin? Many scams on the internet today claim they buy, sell, and exchange Crypto currency when is actuality they just take your money and hide. The best way to avoid these kinds of scams is to see what people are saying about this website. Is anyone saying that they have been scammed before? How long have they been a Crytpo company? Western Union and money Gram request are 95% of the time a scam. Avoid these at all cost.

Now that you have your wallet set up and your safe all you have to do is watch that price go up and decide when is a good time for you to cash out.

As always thank you for reading please don't forget to follow me.

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danigo

Hello, i am still confused when you say it is moveable to hardware ? .. I don't get it..may i know more about it ? Could you guide me more by inbox

10 years ago

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CryptoGuru

Well Sir its very easy if would like i could make a step by step for you for a small price. Bitcoin hardware wallets are the best way to keep your coins safe. This kind of wallet also cannot be traced back to you for any reason unless you cash out. I will teach you anything you want to know, soon i will be offering Bitcoin Trading Advice. What are your reasons for wanting to invest into Bitcoin sir? You don't have to share if its private i was just curious to know. If you want you are more than welcome to inbox me at anytime. Thank you for your interest in our blog.

10 years ago

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Lynne

Yay I have been waiting for this post!

OK great Jkeyz2 so you recommend buying Bitcoin at Coinbase, I have had a quick look at their website and it looks like I can keep money there in a wallet and in addition they say that cryptocurrency stored there is covered by insurance? But this does not cover if my account is compromised though...

So I am not sure what exactly this all means.

How do I move a Bitcoin from a virtual wallet to an offline wallet? Can I just store Bitcoin on my laptop somehow? This really is still a bit confusing for me.

10 years ago

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Lynne

Oh the frustration... Coinbase is available in 33 countries, but as usual South Africa is not supported ugh.

10 years ago

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Lynne

Jkeyz2, here is a question for you. My husband was on eToro a couple of years back and he got quite into trading. To me it just looked like something risky. Anyway I just checked out eToro and Bitcoin is there. This isn't buying Bitcoin though, it is investing in it right?

I am just wondering what you think firstly of eToro if you have any experience with them and then also if this might not be an easier way for me to go about this?

I am going to be asking my husband about it tonight and see what he says. He can guide me how to use eToro so that will help me loads.

10 years ago

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CryptoGuru

Thanks for asking Lynne this is keeping me sharp as a tack. I have no experience with eToro but i have done some research on them for you. What im finding is that they are a legitimate service that people use regularly in fact millions of people. Everything points to good things about eToro. You can buy Bitcoin the only thing i don't know is if you can send Bitcoin from eToro to another wallet. Unfortunately its not available in my country as of yet. If you can sign up and make sure that once you buy Bitcoin that you can send it off to your w?allet then yes you can use this to purchase your Bitcoin. Make sure you have a wallet seperate from this website before you purchase any coins. Hardware wallets are the best idea and it could be a 16GB USB Drive or even your computer. Just make sure whereveer it is its not always connected to the internet. I can also sell you the Bitcoin Lynne i have more than enough. Just make sure you have a wallet and its instant. I hope this helps Lynne Thanks for your interest.

10 years ago

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Lynne

Thanks Jkeyz2 How to safely invest into Bitcoin without mining

So it sounds like Bitcoin are at risk online? I thought that eToro is wasn't actually buying Bitcoin but investing in it? Like you can also invest and trade in Kruger Rands and gold How to safely invest into Bitcoin without mining

You don't actually own it.

10 years ago

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CryptoGuru

They are at risk online for sure Lynne. Thats why i always recommend a Hardware Wallet. You could buy them on eToro and then send them to your wallet.

10 years ago

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Corzhens

This is not a letdown to this discussion. I just don’t trust online investment of any kind. Maybe it is out of ignorance or whatever other reasons but putting your money on websites is a risky venture. There are so many scams around us, whether online or offline and investing your money on something that you don’t exactly know about is a big risk. Maybe you just keep your money in the bank, that is the safest.

9 years ago

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