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Jz

14 Sep 2021

Cryptocurrency

How to start buying Bitcoin ?

What are the risk involved and what are the precautions to take?

Discussion (9)

What are your thoughts?

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Open a Coinhako or a gemini account. You can do direct bank transfers. You can use xfer transfers as well. I prefer direct bank transfers.

1)If you are a long term hodler, Take you btc offline to a trezor or leger hardware wallet- that's the safest way to protect your asset as you own your keys.

2)If you want to earn some yield on it, use Celsius or blockfi- reliable centralized companies...again counter party risk and regulation risk.

3)There are other ways too- wrap ur BTC on other blockchains. it has its own risks. but I would say first familiarize yourself with 1 and 2.

CommonSense Investor

16 Sep 2021

Certified Professional at Biotechnology and Gene Therapy Industry

Please note that Bitcoin is not an productive asset. Fundamentally, you are hoping someone else buy it from you at a higher price.

Easiest platform is probably Gemini or coinhako

View 1 replies

Arman Mohamad

15 Sep 2021

Seedly Student Ambassador 2021/22 at Seedly

Hi JZ, you can use Coinhako!

The risks are that Bitcoin is extremely volatile but if you do proper readings of it and see what companies and countries are adopting it in place of fiat you could find out some new things which could change your conviction in BTC.

I would personally say that money you put into Crypto is money you're willing to lose. So even if you lose it you're not too affected, so you can start off with a small amount first!

Jared Lee

Edited 14 Sep 2021

Finance at Murdoch University

You can use Binance or Coinhako to acquire Crypto. In either cases you would have to onboard SGD usi...

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