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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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56447938 No.56447938 [Reply] [Original]

Dear /biz/ anons, I just got into crypto and investing on Friday, with zero knowledge of how it works. I guess I picked a perfect time to do so because bitcoin just pumped like crazy. I don't want to fuck this up cuz Im a beginner. I bought $300 worth of btc on Robinhood. Is there a better app or brokerage platform that I should use instead, ideally one thay allows instant trades and transfers? And should I hold btc or sell before it dumps?

>> No.56447946

>>56447938
Welcome to crypto, you just gain money constantly and your $300 will become millions.

>> No.56447986

>>56447938
Coinbase. Go all in now. Don't sell if/when it dips under your buy price. This is programmed to happen the moment you buy.

>> No.56448001

>>56447938
In case this is not a troll
>Use Strike
>Find a wallet you trust
>Hold into the halving, when you see an amount of money in your wallet you are scared to lose you should sell or at least pull out your initial investment

I once lost $5,000 in value in one hour while peaking on 5g of mushrooms. It will be tough, but if you're not willing to lose absolutely everything you're not gonna make it.

>> No.56448027

>>56447938
Cash out of Robinhood…yes, I know you will have some fees.
Open up an account on coinbase, then buy your Bitcoin. Get an exodus wallet, and save your key phrase in a safe place. Then send the Bitcoin to your exodus wallet from coinbase. Try 10 dollars at first to test it…then send the rest. Then start dca’ing.
Trust me on all of this, then never trust anyone on here again.
Welcome to crypto and /biz/. Once you are here, you never fuckin leave.

>> No.56448042

>>56448001
This is not bait. I guess I just got lucky. I bought btc just to see what would happen, and have zero experience with investing, and especially crypto. I just want to make sure I don't fuck up any potential earnings.

>> No.56448043

>>56447938
pretty sure they wont even let you send your bitcoin to a cold wallet on robinhood, no bueno

>> No.56448070

>>56448042
read The Bitcoin Standard to better understand the economics, avoid scams and shitcoin casinos, be careful out there but looks like the train is here, have fun and enjoy the ride. Train is leaving soon.

>> No.56448123

>>56447938
coinmetro

>> No.56448345

>>56448043
How do crypto wallets work? Is it possible to actually "own" bitcoin, as opposed to having bitcoin on a brokerage app like robinhood? Like I said, I know next to nothing about crypto, and the bare minimum about investing in general?

>> No.56448450

>>56448345
Please read mine above..get it out of RH, and get an exodus wallet

>> No.56448653
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56448653

>>56447986
>Coinbase
I prefer Kraken, only Centralized Exchange that never fucked me over.
>>56448001
>or at least pull out your initial investment
you also should never invest more than you can afford to lose.
Risk Management is very important if you want to make it.
>>56448027
this is good advice.
always remember:
>not your keys not your coins
>never test the depth of a river with both feet (Try 10 dollars at first to test it)
>>56448042
>and have zero experience with investing, and especially crypto.
there are many things you have to learn OP
>>56448345
>Is it possible to actually "own" bitcoin
Yes Self Custody is possible with Crypto.
As long as only you have the Private Key of your wallet, the content of that wallet is yours.
If someone else has the key they can take your money.

>> No.56448714
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56448714

>>56448345
not your keys, not your crypto. you need a wallet that makes you write down your keyphrase (12 words that are unique to your wallet). then if you lose access to that wallet for some reason (computer explodes), you can open it on a different device with that keyphrase. just make sure you dont lose the paper with the words on it

>> No.56448755

>>56447938
hah

>> No.56448801

>I bought BTC
You are not investing, you are gambling. Very different.

>> No.56449709
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56449709

>>56447938
> Implying you, as a noob, will know when it'll dump.

BTC is not going above 90K so you'll only be making $900 bucks, not worth the hassle.

Best strat is taking the big risk early so you can have more capital to make it big in the second half of the bullrun.

You'll need to DYOR in super early projects that will be delivering soon or are not tied to other crypto. Check Praxxis.

>> No.56449757

>>56447938
What profits? Your $50 gains?
Keep buying until you can retire anon.

>> No.56449776

>>56449709
Disgusting third worlder

>> No.56449947
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56449947

>>56449776
Saw that dump? I've already driven this bitch to the ground, stay on your fucking line; Also go back >>>/pol/

>>56448801
In this clownworld2023 Bitcoin has actually become a proper investment tool, ETF aside. Unless you think is going away or Satoshi is going to come back from the grave to dump everyone. Like, literally the safest coin there is.

But is not passing ATH as long as interest rates keep as high as they are, simple as.