New to bitcoin - should I buy now?

[gil80]

Hi all.
Which mobile app would you recommend using? Mycelium, Copay, electrum, blockchain, Coinbase?

Which one is more suitable for Australians?

What is the best way or fastest way of selling Bitcoins?

And.. should I buy now or wait? I want to buy at least 1 BTC.


Thanks.

[bitkilo]

Hi all.
Which mobile app would you recommend using? Mycelium, Copay, electrum, blockchain, Coinbase?

Which one is more suitable for Australians?

What is the best way or fastest way of selling Bitcoins?

And.. should I buy now or wait? I want to buy at least 1 BTC.


Thanks.

Hello,

I would recommend Mycelium as a mobile app and also set up a Coinjar account to buy and sell coins, don't store coins at Coinjar because they are an online wallet just use them as an exchange service.

Also check out livingroomofsatoshi.com they are a great bill paying service available to Australians.

Nobody can tell you the best time to buy, nobody knows if the price will be up or down $100 tomorrow so I would just buy as soon as possible and keep an eye on the price.

[BitcoinXio]

I'd say what Bitkilo said above is accurate. I just wanted to comment about knowing when to buy.....

[gil80]

thanks for the help everyone!

yes, asking if it's a 'good time to buy' is a bit stupid question... I was trying to fish out if there's some notion or understanding that it's probably not a good time, given some known factors / historical stuff / educated guesses...

[BitcoinXio]

thanks for the help everyone!

yes, asking if it's a 'good time to buy' is a bit stupid question... I was trying to fish out if there's some notion or understanding that it's probably not a good time, given some known factors / historical stuff / educated guesses...

Here is another old saying for you: Buy low, sell high.

Guessing when "low" is extremely difficult. But if you can get that down then it's smooth sailing.

[mjglqw]

thanks for the help everyone!

yes, asking if it's a 'good time to buy' is a bit stupid question... I was trying to fish out if there's some notion or understanding that it's probably not a good time, given some known factors / historical stuff / educated guesses...

ayy. also make sure to do enough research on how to keep your bitcoins safe. the last thing you want is to lose all your invested bitcoins.

goodluck!

[Possum577]

Must you absolutely own bitcoin? When it comes to investing the leverage is driven by the number or of shares you own...the more you own the more you gain with each $1 or $100 increment.

Buying Litecoin at it's current $30 per coin allows you to buy more coins, leverage.

You can buy Bitcoin and Litecoin easily from Coinbase or Bitstamp.

But my favorite is Ethereum, which site in the middle if the other two.

Just a thought, good luck!

[gil80]

Must you absolutely own bitcoin? When it comes to investing the leverage is driven by the number or of shares you own...the more you own the more you gain with each $1 or $100 increment.

Buying Litecoin at it's current $30 per coin allows you to buy more coins, leverage.

You can buy Bitcoin and Litecoin easily from Coinbase or Bitstamp.

But my favorite is Ethereum, which site in the middle if the other two.

Just a thought, good luck!

Thanks!

I was actually thinking of getting Ethereum. But, I'm open for suggestions.
I wish there was an app that allows the purchase of these LTC BTC and ETH in Australia.

I started using Mycelium and placed my first credit card purchase for 1 BTC and I'm waiting for transaction approval (over 6 hours now).

[Possum577]

I wish there was an app that allows the purchase of these LTC BTC and ETH in Australia.

I started using Mycelium and placed my first credit card purchase for 1 BTC and I'm waiting for transaction approval (over 6 hours now).

Friend, you can buy Bitcoin, Ethereum, and Litecoin from Australia via Coinbase!

Here's a referral link (could get you a $10 bonus): https://www.coinbase.com/join/5198634ab2e8fc9c3a000024

When you make your purchases if you wish to use a bank account it'll be cheaper and the lock in the price from the date of purchase (when you click "Buy") rather than the date of transaction settlement.

If you have any trouble using Coinbase, let me know...I or someone else here can help. Coinbase has their own help support but it takes a few days to get a response.

[gil80]

I wish there was an app that allows the purchase of these LTC BTC and ETH in Australia.

I started using Mycelium and placed my first credit card purchase for 1 BTC and I'm waiting for transaction approval (over 6 hours now).

Friend, you can buy Bitcoin, Ethereum, and Litecoin from Australia via Coinbase!

Here's a referral link (could get you a $10 bonus): https://www.coinbase.com/join/5198634ab2e8fc9c3a000024

When you make your purchases if you wish to use a bank account it'll be cheaper and the lock in the price from the date of purchase (when you click "Buy") rather than the date of transaction settlement.

If you have any trouble using Coinbase, let me know...I or someone else here can help. Coinbase has their own help support but it takes a few days to get a response.

Ok, now you got me worried there.
1. You mean the purchase I've done is not locking the price because it was a CC transaction? Then what happens if Bitcoin goes down but I paid for higher value when it gets approved? ;(

2. I can't use Coinbase because they only allow to add CC as payment detail and they refused my card because it's Visa debit card.

3. Coinbase don't have selling option in Australia according to their FAQ. So how using can help me when I want to sell?

[Cryptocoin]

Bitcoin is all-time best investment. As every user who invest in bitcoin after understanding its potential have get good returns on their investment. And still its price is increasing exponentially.

[Possum577]

Answers for you:

1. If you purchase with a CC you will also lock down the price at that moment, the reason I didn't bring it up is because CC transactions are super quick, same day, compared to to the bank transactions that take a week or so.

2. Unfortunately I can't help if you're working with a debit card, there's no way you can get approved for a credit card with a small balance?

3. Is this a trick question? Why would you wan to sell your Bitcoin or Ether?!?! I'm mostly being serious here. BUT...I have a solution for you. Google "Wirex". It's a bitcoin-based foreign transaction service, which will allow you to convert your bitcoin balance to a debit card balance, currency types are probably restricted to USD, GBP...so you'd have to deal with spending your bitcoin locally with USD or Pounds (is that going to be a pain in the ass?) It's a legit option. Here's a thread with a great Wirex demo video: post63037.html#p63037

Coinbase is growing their business quickly and given the favorability Aus has shown to Bitcoin I'm sure they'll be quick to allow a withdrawal option soon.

Good questions let us know how you make out!

I wish there was an app that allows the purchase of these LTC BTC and ETH in Australia.

I started using Mycelium and placed my first credit card purchase for 1 BTC and I'm waiting for transaction approval (over 6 hours now).

Friend, you can buy Bitcoin, Ethereum, and Litecoin from Australia via Coinbase!

Here's a referral link (could get you a $10 bonus): https://www.coinbase.com/join/5198634ab2e8fc9c3a000024

When you make your purchases if you wish to use a bank account it'll be cheaper and the lock in the price from the date of purchase (when you click "Buy") rather than the date of transaction settlement.

If you have any trouble using Coinbase, let me know...I or someone else here can help. Coinbase has their own help support but it takes a few days to get a response.

Ok, now you got me worried there.
1. You mean the purchase I've done is not locking the price because it was a CC transaction? Then what happens if Bitcoin goes down but I paid for higher value when it gets approved? ;(

2. I can't use Coinbase because they only allow to add CC as payment detail and they refused my card because it's Visa debit card.

3. Coinbase don't have selling option in Australia according to their FAQ. So how using can help me when I want to sell?

[BenRickert]

DO NOT use Simplex. They recently defrauded my Credit Card of $322.00. Took the money and never rendered the Bit Coin. Total Frauds. This site links them as a Favorite Exchange.

[gil80]

DO NOT use Simplex. They recently defrauded my Credit Card of $322.00. Took the money and never rendered the Bit Coin. Total Frauds. This site links them as a Favorite Exchange.

Oh crap! That's another reason to worry now... hmm... what do I do? If they are a fraud, then I wonder why such a popular app like Mycelium refers to them for CC payments.

[BitcoinXio]

DO NOT use Simplex. They recently defrauded my Credit Card of $322.00. Took the money and never rendered the Bit Coin. Total Frauds. This site links them as a Favorite Exchange.

Oh crap! That's another reason to worry now... hmm... what do I do? If they are a fraud, then I wonder why such a popular app like Mycelium refers to them for CC payments.

They aren't a fraud, OP is upset and rightfully so. But the site is legit. They just were not prepared for the volume that they received when the price rally started a couple of weeks ago.

[gil80]

Answers for you:

1. If you purchase with a CC you will also lock down the price at that moment, the reason I didn't bring it up is because CC transactions are super quick, same day, compared to to the bank transactions that take a week or so.

2. Unfortunately I can't help if you're working with a debit card, there's no way you can get approved for a credit card with a small balance?

3. Is this a trick question? Why would you wan to sell your Bitcoin or Ether?!?! I'm mostly being serious here. BUT...I have a solution for you. Google "Wirex". It's a bitcoin-based foreign transaction service, which will allow you to convert your bitcoin balance to a debit card balance, currency types are probably restricted to USD, GBP...so you'd have to deal with spending your bitcoin locally with USD or Pounds (is that going to be a pain in the ass?) It's a legit option. Here's a thread with a great Wirex demo video: post63037.html#p63037

Coinbase is growing their business quickly and given the favorability Aus has shown to Bitcoin I'm sure they'll be quick to allow a withdrawal option soon.

Good questions let us know how you make out!

Hi and thanks for the reply.

1. Well, it was my first transaction with Simplex, via Mycelium app. I know that 1st transactions takes time to verify. It's Monday morning now. The transaction is still not verified. I did it on Friday :/

2. I can get credit card from my bank. It's usually not worth the monthly card fee here, unless you use it a lot. The credit you get from the bank, counts towards mortgage loan.

3. Buy low, sell high? that's why. Thanks for the link. I'll look it up.

[bitkilo]

Have you looked at Coinjar yet?
https://www.coinjar.com.au/

I have been using bitcoin for a few years now and cannot fault the company, it's exactly what you need and has some of the best customer service I have experienced with an online company.

[Possum577]

Answers for you:
3. Is this a trick question? Why would you wan to sell your Bitcoin or Ether?!?! I'm mostly being serious here. BUT...I have a solution for you. Google "Wirex". It's a bitcoin-based foreign transaction service, which will allow you to convert your bitcoin balance to a debit card balance, currency types are probably restricted to USD, GBP...so you'd have to deal with spending your bitcoin locally with USD or Pounds (is that going to be a pain in the ass?) It's a legit option. Here's a thread with a great Wirex demo video: post63037.html#p63037

Hi and thanks for the reply.

3. Buy low, sell high? that's why. Thanks for the link. I'll look it up.

Ahh, of course. Well, it's tough to time the ups and downs. Most of the people floating around these forums are strong believers that Bitcoin value has a long way to go and that while this bouncing in the $2000s is fun and new and exciting, it's only the beginning. I also believe this.

I think the decision are driven by (1) how much you can invest over time, and (2) how much time you want to stay invested. How long are you willing to wait to see some decent returns?

Bitcoin's money supply (the number of bitcoins is defined and slowly growing by less and less), which means if demand just stays the same we'll see the price rise. That doesn't account for the demand generated by people completely new to bitcoin, someone like yourself. And it's this part of the demand curve that will really influence the long term price for the better.

If you prefer more certain near term gains I believe Ethereum is a better investment for that purpose. That's just my opinion though.

Are there a lot of people talking about Bitcoin in Aus?

[BenRickert]

DO NOT use Simplex. They recently defrauded my Credit Card of $322.00. Took the money and never rendered the Bit Coin. Total Frauds. This site links them as a Favorite Exchange.

Oh crap! That's another reason to worry now... hmm... what do I do? If they are a fraud, then I wonder why such a popular app like Mycelium refers to them for CC payments.

They aren't a fraud, OP is upset and rightfully so. But the site is legit. They just were not prepared for the volume that they received when the price rally started a couple of weeks ago.

[BenRickert]

I tried to give them the benefit of the doubt on the volume swell, but they have not even responded to my inquiries in 6 days. They have my money, and I don't have the product I paid for. Whether a "fraud" or "inept" the result is the same. I just don't want to see other people lose their money. People should steer clear of these cats.

[Rmcdermott927]

The Bitcoin price swings 200 in either direction multiple times per day lately. If you can buy close to $2000, that is your best bet. Bitcoin is a long term game so don't be upset if it goes down from your original purchase price as it will go back up in the coming weeks and months.

[gil80]

I tried to give them the benefit of the doubt on the volume swell, but they have not even responded to my inquiries in 6 days. They have my money, and I don't have the product I paid for. Whether a "fraud" or "inept" the result is the same. I just don't want to see other people lose their money. People should steer clear of these cats.

Hi.
I purchased from them 1 BTC which was about $3600 Australian dollars on Friday the 26th of May. Today it's the 30 of May and zero response from them.
I think I'll open a dispute with my bank on Simplex transaction.

[lokiviet]

I wish there was an app that allows the purchase of these LTC BTC and ETH in Australia.

I started using Mycelium and placed my first credit card purchase for 1 BTC and I'm waiting for transaction approval (over 6 hours now).

Friend, you can buy Bitcoin, Ethereum, and Litecoin from Australia via Coinbase!

Here's a referral link (could get you a $10 bonus): https://www.coinbase.com/join/5198634ab2e8fc9c3a000024

When you make your purchases if you wish to use a bank account it'll be cheaper and the lock in the price from the date of purchase (when you click "Buy") rather than the date of transaction settlement.

If you have any trouble using Coinbase, let me know...I or someone else here can help. Coinbase has their own help support but it takes a few days to get a response.

Hi Posum 577, Can you help me? I have Visa & Mastercad, How can i buy it?

[mjglqw]

I wish there was an app that allows the purchase of these LTC BTC and ETH in Australia.

I started using Mycelium and placed my first credit card purchase for 1 BTC and I'm waiting for transaction approval (over 6 hours now).

Friend, you can buy Bitcoin, Ethereum, and Litecoin from Australia via Coinbase!

Here's a referral link (could get you a $10 bonus): https://www.coinbase.com/join/5198634ab2e8fc9c3a000024

When you make your purchases if you wish to use a bank account it'll be cheaper and the lock in the price from the date of purchase (when you click "Buy") rather than the date of transaction settlement.

If you have any trouble using Coinbase, let me know...I or someone else here can help. Coinbase has their own help support but it takes a few days to get a response.

Hi Posum 577, Can you help me? I have Visa & Mastercad, How can i buy it?

I'm not Possum 577 but what are you having problems with specifically? I suggest creating your own thread and specify what your problems are. Hijacking old threads ain't good.

[Neoclassical]

The best time to buy bitcoin was 9 years ago.

The second best is now.

[richelle@1234]

Buying bitcoins can be extremely confusing and frustrating. This site has ample information to help make

buying bitcoins easier for you. HowToBuyCrypto-currency.com

[geoffreycelen]

This thread clears all my doubts about buying bitcoin. Thank you all of you.