Buying your first Bit of Bitcoin - Step 3

[Rob D]

So hopefully you are now fully vallidated on Coinfloor.

 

Exciting stuff - so now you're going to pull the trigger.

 

This is just to test - £50-00.... You can afford £50...

 

• Hit EXCHANGE at the top. Now this is an inefficient way of doing things but it is fast and it will get you used to things
• Follow all the instructions given
• Set up a payment and send a bank transfer
• Make sure you get everything right!
• Now keep an eye on your dashboard - your bitcoin will come in and show on your account
• You just bought some BitCoin!

 

You should not keep Bitcoin on an exchange so tonight we will then transfer that to our BitGo wallet where it is more secure.

[Rob D]

Right so my Bit of Bitcoin is now in the exchange.

 

 

Tonight will do Step 4 sending this to BitGo wallet.

 

 

[sandspider]

Thanks for doing this Rob. Interesting, but seems quite a faff! Then again, 50% gains in a week are not to be sneezed at... (Future value may fall as well as rise!)

[Rob D]

28 minutes ago, sandspider said:

Thanks for doing this Rob. Interesting, but seems quite a faff! Then again, 50% gains in a week are not to be sneezed at... (Future value may fall as well as rise!)

 

It is a right old faff - cause if it wasn't then everyone would be doing it! I started trading on etoro while my brother was opening wallets and going on exchanges. 'What a hassle' says I.

 

'You're paying loads more for your Bitcoin than me' says he.

 

'I am' says I... and so I thought I had better educate myself...

 

Towards the end of next year it won't be a faff. It won't be so much of an unknown. But then loads more folk will be at it...

 

Come the 18th Decemeber you will be able to trade BitCoin futures on the Nasdaq. This whole crytpo world will really start to emerge next year.