Question about Bitcoins
So I'm thinking of looking to get some but I would want a bit of knowledge before throwing money into something.
So, where is the best places to store and buy Bitcoin?
What can I actually buy with bitcoins?
Can I convert Bitcoin back into dollars or other forms currency?
>>1354924
I use coinbase
its pretty easy
but its takes a few days to transfer from btc to dollars
>>1354949
Is it able to be transferred to any bank account or is it better to have something set up separate from your main finances?
>2016
>still not owning bitcoins
>>1354970
I just set up an account and it looks like you can link it to any account you would like.
I'm more curious if mining was still worth it and if coinbase can link to it.
What wallet should I go for. I'm in the USA
>>1355037
>I use coinbase
>its pretty easy
>but its takes a few days to transfer from btc to dollars
>>1355045
I will look into thank you
>>1355015
>2016
>still owning bitcoins
>>1355481
>2016
>there are still nocoiners coping
>>1354924
>>1354970
>>1355037
Coinbase is just an exchange, it's not a proper wallet. People with BTC on Coinbase don't actually own shit, they just have an IOU from Coinbase. If Coinbase becomes insolvent or gets """hacked""" you're fucked. Do not keep BTC with other people, this lesson should've been learned in 2013 when MtGOX went under and $500mm vanished overnight.
A wallet is just a computer program which stores your BTC, your geographical location is irrelevant. Electrum (desktop) and Mycelium (android) are the best wallets. When you create a wallet on either of these programs you'll be shown a series of 12-13 words. Write these down on a physical piece of paper and put this somewhere safe. You will be able to recover all funds if your computer/phone breaks or is stolen.
Early exchanges were off-the-books but all modern exchanges today are heavily tracked and will require KYC/AML information when exceeding certain limits. Localbitcoins is a much better option, it's essentially Craigslist for Bitcoin. Check there first for local traders with high feedback. Arrange an in-person meet at Starbucks or similar location and buy your BTC on the spot with cash.
>>1355566
Thank you for the information.
