Bitcoin

redout22

redout22

New member
Does anyone on this board use bitcoin?

If so how does it work?

How can you trade bitcoins for cash and vise versa?

I'm very new to this so please keep it in layman' terms.

 
What exactly would you like to do with Bitcoin? Are you looking to invest in cryptos in an attempt to hedge against traditional currencies and equities or are you looking to use it to actually purchase things? Regardless, I assume that you probably want to start small and see how you feel about it. As such, I would suggest setting up an account with Circle.com or Coinbase. Coinbase allows for greater amounts to be transferred at once (as in cash to your Coinbase account and then to BTC), but for someone just getting into it Circle is probably better due to the fact that transactions are free (Coinbase charges a nominal fee) and after 3-6 months, the amount that you are allowed to transfer is raised SIGNIFICANTLY. With either you are able to create a unique wallet identifier in order to conduct transactions in BTC.

Please feel free to respond or send me a PM if you have more specific questions.

 
C N Red said:
How would one go about turning bitcoin into cash?
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you have to sell it to someone but that shouldn't be too hard I would just start on Google looking for people interested in purchasing bitcoin. Man I'm mad I didn't buy some bitcoin last year when it was down around 200$ could have made a nice profit.
 
Necrobump. Anyone on the board currently get regular use out of bitcoin?

I just figured out how to send/receive it online using a personal wallet and Coinbase (I'm planning to cash mine out immediately) and boy it's interesting... I still feel like I know so little.

 
Danny Bateman said:
Necrobump. Anyone on the board currently get regular use out of bitcoin?

I just figured out how to send/receive it online using a personal wallet and Coinbase (I'm planning to cash mine out immediately) and boy it's interesting... I still feel like I know so little.
Click to expand...


I get paid for my cam shows in Bitcoin 

 
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