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Buying bitcoins

brendan86

Heh guys,

I've been doing a bit of research the last week into buying bitcoins.. I want to buy 1k worth, I know it's risky but I have it to spare and might just see how it goes for a year or so..

I have currently registered on mtgox.com and am awaiting approval on my Id verification.. Has anyone dealt with this site have any info for me?

If I put my money on mtgox that means I have to trust them with my bitcoins is this correct? I won't have to have a wallet on my computer?

I'm just basically asking for advice, it's what I want to do but if someone can explain the best way about it that knows more than me I would appreciate it

Thanks

Brendan

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carrotcake

Is Kraken taking longer to process SEPA deposits (compared to a month ago)? I was expecting a deposit to show up in my Kraken account a couple of hours ago, but nothing yet.

Prices keep going up, and I'm sitting here, waiting.

hogan90

Kenny Logins wrote: »

Yep. I cashed out some a couple of weeks ago and it was sent back to my Fire card in about as long as you'd expect a SEPA transfer to take (1-2 working days).

Sweet, thanks for reply!

Kenny Logins

hogan90 wrote: »

Has anybody sold coin and deposited the money into your bank account from coinbase? just wondering how easy it is to do so?

Yep. I cashed out some a couple of weeks ago and it was sent back to my Fire card in about as long as you'd expect a SEPA transfer to take (1-2 working days).

hogan90

Has anybody sold coin and deposited the money into your bank account from coinbase? just wondering how easy it is to do so?

Kenny Logins

S.M.B. wrote: »

I also use revolut as a middleman to deposit into kraken.

Yep. I use Fire.

one world order

Kenny Logins wrote: »

Your account is restricted..?

Not mine, Kraken account by AIB, I'll get around it

S.M.B.

I also use revolut as a middleman to deposit into kraken.

one world order

discombobulate wrote: »

I’ve deposited and withdrawn using revolut in last week no problems (other than the site being a crock of **** to use at the moment)

Okay sound, I'll try set up an account with revolut tomorrow and use them as an intermediary

Kenny Logins

one world order wrote: »

Tried tonight and didn't work, rang customer service and they said the account is restricted.

Your account is restricted..?

discombobulate

one world order wrote: »

AIB has restricted making payments to the Kraken bank ac based in Germany. Any one else have this issue?

I’ve deposited and withdrawn using revolut in last week no problems (other than the site being a crock of **** to use at the moment)

aligator_am

one world order wrote: »

Tried tonight and didn't work, rang customer service and they said the account is restricted.

Wonder what the angle is there? covering themselves I'd imagine, maybe afraid of a flood of cash flowing out and in to the Kraken account?

I'd be curious to see if it works both ways and if they'd reject an incoming transfer from the Kraken account worth a few million € ?

one world order

GreeBo wrote: »

Since when?
I transferred money over last week, arrived on Friday.

Tried tonight and didn't work, rang customer service and they said the account is restricted.

GreeBo

one world order wrote: »

AIB has restricted making payments to the Kraken bank ac based in Germany. Any one else have this issue?

Since when?
I transferred money over last week, arrived on Friday.

one world order

Kenny Logins wrote: »

I've had no issues with Coinbase/GDAX but Kraken made me very nervous. It took ages to even get BTC out so I can't imagine Euros would be any easier.

AIB has restricted making payments to the Kraken bank ac based in Germany. Any one else have this issue?

will56

dinneenp wrote: »

Buy.
Sell before the bubble bursts.
Retire.

You missed one step

Travel back in time to when Bitcoin was dirt cheap, buy/mine a load and HODL.

dinneenp

Shane732 wrote: »

Is there a beginners guide to Bitcoin available?

Buy.
Sell before the bubble bursts.
Retire.

cnocbui

https://www.cnbc.com/2017/12/10/tell-us-what-you-think-how-will-the-launch-of-bitcoin-futures-trading-affect-the-cryptocurrency.html

CNBC poll on Bitcoin Futures. "It's going to $100,000" is currently way ahead at 48% of the vote

Even with Jamie Dimon ordering every employee at JP Morgan to vote for the bubble is about to burst option, it still only manages 31%

blindside88

I finally pulled the trigger and bought a bit of bitcoin, lite coin and ethereum. I've downloaded a wallet "breadwallet" and transferred a small amount over. Just a quick question, do most people recommend transferring everything to the wallet (I don't plan on day trading) or keeping some on coinbase also

The One Doctor

jester77 wrote: »

I want to hear more :eek:

Volatility is relative. There are coin pairs that can jump/fall 15% in 90 minutes. One coin is worth €30, but the 15% gain is huge over 90 minutes. If you have €2000 worth of the coin, 15% is €300.

Note: this is NOT a HODLing strategy - quite the opposite.

makeorbrake

jester77 wrote: »

I want to hear more :eek:

The Bellagio in Vegas.

jester77

The One Doctor wrote: »

Thousands. But this one is reasonable.

It really depends on what you want to do with your bitcoin or altcoin. Hold onto it and let it grow? Trade it regularly? Mine it? Its a fairly complex field and you'll learn lots. Most people simply hold, some buy repeatedly at the dips, others day trade (that's me).

It can be very profitable, but it's NOTHING like traditional investments. Prices can move 20% up or down in a few hours.

Speaking personally, I just got out of Bitcoin today. I'll go back in if the price drops hard again, but I'm moving to something that has a bit more volatility. Bitcoin is brilliant but it's also stressful.

I want to hear more :eek:

The One Doctor

Shane732 wrote: »

Is there a beginners guide to Bitcoin available?

Thousands. But this one is reasonable.

It really depends on what you want to do with your bitcoin or altcoin. Hold onto it and let it grow? Trade it regularly? Mine it? Its a fairly complex field and you'll learn lots. Most people simply hold, some buy repeatedly at the dips, others day trade (that's me).

It can be very profitable, but it's NOTHING like traditional investments. Prices can move 20% up or down in a few hours.

Speaking personally, I just got out of Bitcoin today. I'll go back in if the price drops hard again, but I'm moving to something that has a bit more volatility. Bitcoin is brilliant but it's also stressful.

Shane732

Is there a beginners guide to Bitcoin available?

Tar.Aldarion

SkySter wrote: »

Totally agree that Kraken is awful, to the extent that I'm going to the trouble of getting a second photo ID so I can get on GDAX.

Considering the same, just wondering if they accept PSC or if I need to get a driving license haha.

SkySter

grindle wrote: »

It's not just that - their trading engine crumbles at the mere sight of new customers. Constant tx failures and Cloudflare splashscreens.
Took me 15mins to switch from one coin to another a few days ago!

Hopefully the updated engine will be up to the task in future.

Totally agree that Kraken is awful, to the extent that I'm going to the trouble of getting a second photo ID so I can get on GDAX.

hogan90

EagererBeaver wrote: »

Litecoin is up 40% in the last week.

Bought Litecoin today, hoping it follows the same trend as Bitcoin. Wishful thinking!!

oleras

Up >20% on the day as of now.

grindle

Shauny2010 wrote: »

I think the complaints about Kraken's speed of withdrawals are not fair on them.

It's not just that - their trading engine crumbles at the mere sight of new customers. Constant tx failures and Cloudflare splashscreens.
Took me 15mins to switch from one coin to another a few days ago!

Hopefully the updated engine will be up to the task in future.

Shauny2010

grindle wrote: »

God no. They're easy to deposit money into but every other aspect is like moonwalking up a mountain.

I think the complaints about Kraken's speed of withdrawals are not fair on them. They did ask all their users about 18 months ago now if they would prefer lower fees or faster transaction times. Lower fees was chosen by the nearly everyone so in peak times of activity on the network don`t be surprised if withdrawals can go over a day to show up in your wallet. they did warn about this and pointed it out.
From my experience though it usually appears within the hour.

EagererBeaver

It's BTC people are having problems cashing out, not LTC.

Suggestion is that a lot of the recent LTC pump driven by people trying to cash out some of their BTC and exchanging to LTC to get the money out.