Any Cryptocurrency Questions?

[Cryptoisthefuture]

Hello to everyone.  I'm new here and hope to be a useful member of the community.  I'm a bit of a cryptocurrency fanatic and have quite a lot of knowledge on the subject.  Hopefully I can converse with the powers that be around here and convince them to start accepting and encouraging the use of Monero (XMR) or at least other more privacy focused cryptos.  Bitcoin is no longer close to an anonymous way to conduct business and many don't realize that.  There are things one can do to help make it safer though, perhaps I'll put some tips together at some point.

I've been interested in crypto for several years now although really didn't become obsessed until the last few years.  Unfortunately when I first discovered Bitcoin it was no more than a means to an end as it allowed me to procure substances online in the silk road days.  At that point I didn't take the time to leaarn much about it or set aside a few dozen of the cheap bitcoin I was using to purchase things.  I spent millions of todays dollars worth which haunts me to this day.  I started to take a serious look into the technology and realized the amazing potential a few years ago now and have been obsessed ever since.  Unfortunately most of the profits on paper I made holding crypto evaporated in the year long bear market most of 2018 into 2019.  Fortunately the knowledge I gained in that period is still with me and will prove useful.

Anyway if there is anyway I can help anyone hit me up.  I may take a minute to get back to you, I'm fairly busy, but I will eventually.  

Peace,

Cryptoisthefuture

 

[DoomKitty]

Welcome to the forum! i have nothing to ask, just wanted to say Yay for Monero (xmr)!!  It hasn't really caught on yet but its only a matter of time as its really everything btc wanted to be and more.  I only know a few vendors who accept it, and honestly its a great way to help anonymize the bitcoins you do have (converting bitcoin to monero back to bitcoin).  Anyways, glad to see an XMR supporter here and take care!

 

[Kelakarekrew]

+1 to XMR.
I sometimes use XMR as a means to transfer funds to exchanges that do not require KYC, sell back to BTC and then out to a BTC wallet. Like the OP I spent countless BTC on drugs, PC parts, repaying friends, etc... I try not to think of it.
Wasabi wallet and it's coinjoin feature shows promise but it's hard to risk the 0.1 BTC minimum on an unknown

 

[Jean Kay]

I've heard many recommendations, but in terms of security (two factor auth please) and trust (something which won't fold overnight and steal my money), what is the best BTC wallet? Ease of use matters too.

 

[Kelakarekrew]

I've heard many recommendations, but in terms of security (two factor auth please) and trust (something which won't fold overnight and steal my money), what is the best BTC wallet? Ease of use matters too.

There's a lot of wallets. The big thing to look for is that you have the seed phrase, usually 12 words. Record them somehow, in exact order. Keep safe.Your BTC isn't in the wallet, it is recorded on the blockchain. If you have the seed phrase you can access your BTC from most wallets. If a wallet does not give you a seed you don't really have control of your btc, you run the risk of them being hacked, scamming, etc... 
Personally I use Electrum (https://electrum.org/#home) on PC and mobile (get in your app store). It's one of the older and well respected ones. Just tell it to make a new wallet and follow steps. But there are many others. Whatever you choose, google for the legit download site, do not trust referral links or other links you find. That is a good link but still make certain for yourself. 
 

 

[Jean Kay]

There's a lot of wallets. The big thing to look for is that you have the seed phrase, usually 12 words. Record them somehow, in exact order. Keep safe.Your BTC isn't in the wallet, it is recorded on the blockchain. If you have the seed phrase you can access your BTC from most wallets. If a wallet does not give you a seed you don't really have control of your btc, you run the risk of them being hacked, scamming, etc... 
Personally I use Electrum (https://electrum.org/#home) on PC and mobile (get in your app store). It's one of the older and well respected ones. Just tell it to make a new wallet and follow steps. But there are many others. Whatever you choose, google for the legit download site, do not trust referral links or other links you find. That is a good link but still make certain for yourself. 
 

Thanks. I downloaded Electrum on someone else's recommendation.

 

[Cryptoisthefuture]

Electrum is a fine choice. I use Mycellium for mobile.  For best practice use a new address for every transaction, Mycellium does this automatically so its convenient.  

Like the previous poster said be sure to save your seed phrase safe and never trust a 3rd party like an exchange to hold your crypto.  The saying is not your keys not your coins and that has proven true over the years as some of the largest and most trusted services have been hacked.

If you are going to store more than a few dollars worth over any medium to long term think about investing in a hardware wallet like a "ledger nano".  They are pretty easy to use once you get over the initial brand new period and are arguably the most secure way to hold your coins.

 

[DJR123]

hello...don't need a wallet; need a place to buy actual bitcoin. I used to use localbicoins.com but now they don't accept USA customers and I lost my old email account (and hence, access). Cash app no keeps saying my ID is not from USA (which it is but they are currently having trouble) and coinbase i just can't get to fucking work. Please help. Much appreciated. I do have a wallet at electrum

 

[seekerslayer]

Yes, what is the youngest age someone can buy crypto?

 

[DoomKitty]

@seekerslayer technically you can buy crypto at any age, but if you are getting it via an exchange or similar you will have to go thru their KYC requirements which makes it only 18 and older i believe. 

 

[sallymazie]

@Cryptoisthefuture hi I have questions. I don't understand cryptocurrency at all. I want to start purchasing stuff but 300$ doesn't even get me 1 Bitcoin? How much $$ do I need to invest in Bitcoin to start shopping? Thank you

 

[DoomKitty]

@sallymazie That particular user you tagged hasnt logged in on a couple years, but i can maybe help.  So as far as what bitcoin is worth, that is always changing a bit, but lets say you buy 300 dollars worth of bitcoin.  Currently that would be .0077btc.  Aside from the small miner fees, if you were to then immediately spend that btc it would be still be worth basically 300 dollars.  You loose a bit in the fees, but as long as you arent using an exchange that gouges you then you only should loose a few dollars.  Bitcoin ATMs will take upwards of 10%, but theyre easier for a lot of beginners, and some don't require any personal info to use.  Again, the value of bitcoin can change sometimes rapidly.  So you may buy .0077 btc and at the time you buy it, it is worth 300 dollars, but it can fluctuate rapidly and in 3 days may be worth 240 or 380 depending.  Hope this helps

 

[sallymazie]

Thank you!

 

[shody]

Where can I find. Donatiionss address for bit coiin so I can get my self up the ranking

 

[shody]

Thanks just if you can point me right ya don't literally have to typeaddress

 

[timyboy]

Hope this helps:

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