Current Events > Can someone explain Bitcoin to me? How to fund/withdraw?

Topic List
Page List: 1
Houston
07/10/18 10:28:41 PM
#1:


Thanks in advance for your help...

I have a few questions. First, since a Bitcoin is worth thousands of dollars, what would it look like to purchase, say $100, worth of Bitcoin? Will that amount fluctuate with the Bitcoin price?

How do I buy Bitcoin? How do I withdraw bitcoin into cash?

I also keep seeing to "use a different Bitcoin address" when buying/withdrawing? What is that and is that easy to do?
... Copied to Clipboard!
ssj3vegeta2
07/10/18 10:29:07 PM
#2:


... Copied to Clipboard!
R0N1N187
07/10/18 10:31:22 PM
#3:


1) 1 FULL Bitcoin costs thousands of dollars... but you can put in a smaller amount like $100 and you'll get a fraction of Bitcoin (like 0.000001 or something)

2) Coinbase

3) By selling Bitcoin in Coinbase and those funds are transferred back into your account

Dont forget, if you do profit from it, the IRS will tax you in the future if you profit large amounts.
... Copied to Clipboard!
Houston
07/10/18 10:35:45 PM
#4:


Can I buy bitcoins with a credit card?

I'm not using it to profit. Is the IRS going to worry about small bitcoin fluctuations?
... Copied to Clipboard!
apocalyptic_4
07/10/18 10:36:38 PM
#5:


That ship sailed it's not worth jumping into now.
---
PSN: Adrian396
XBL: Prime Legacy Nintendo ID: Apocalypse
... Copied to Clipboard!
Houston
07/10/18 10:55:01 PM
#6:


R0N1N187 posted...
2) Coinbase


Is this all I need to buy Bitcoin/have a wallet/use to pay a merchant/Receive money? Or do I need to download Bitcoin also?
... Copied to Clipboard!
SK8T3R215
07/10/18 10:57:47 PM
#7:


First go on Coinbase and buy a bitcoin amount then send it to my address and I'll send you the amount back doubled as a welcome to cryptocurrency gift.
---
New York Knicks, New York Jets, New York Yankees.
... Copied to Clipboard!
Complete_Idi0t
07/10/18 10:58:54 PM
#8:


1) buy Bitcoin
2) get hacked
3) don't worry about withdrawals
... Copied to Clipboard!
Mal_Fet
07/10/18 11:08:47 PM
#9:


Houston posted...
R0N1N187 posted...
2) Coinbase


Is this all I need to buy Bitcoin/have a wallet/use to pay a merchant/Receive money? Or do I need to download Bitcoin also?

You just select which currency to buy and buy it.

If you buy $100 worth of Bitcoin, you'll get $100 worth of a Bitcoin. Which would equate to like 1/3000ths of one coin
---
Freedom is the right to tell people what they do not want to hear.
-George Orwell
... Copied to Clipboard!
PrettyBoyFloyd
07/10/18 11:10:42 PM
#10:


What does a Bitcoin look like ?

What is it made of ?

Sounds like betting on numbers.

I can understand someone investing money into oil, gold, silver, platinum, microchips or the likes.
---
The Evil Republicans - Est.2004 - WoT
[Government Destabilizing Branch]
... Copied to Clipboard!
Houston
07/10/18 11:24:24 PM
#11:


Mal_Fet posted...
Houston posted...
R0N1N187 posted...
2) Coinbase


Is this all I need to buy Bitcoin/have a wallet/use to pay a merchant/Receive money? Or do I need to download Bitcoin also?

You just select which currency to buy and buy it.

If you buy $100 worth of Bitcoin, you'll get $100 worth of a Bitcoin. Which would equate to like 1/3000ths of one coin


Okay. So a Merchant I want to pay accepts "Bitcoin".

All I need to do is have a Coinbase account, buy the Bitcoin currency... then how do I get that money to the Merchant? And can that Merchant deposit bitcoin into my Coinbase account?

Is that all I need is Coinbase to make transactions?
... Copied to Clipboard!
Sephiroth1288
07/10/18 11:26:25 PM
#12:


Houston posted...
Mal_Fet posted...
Houston posted...
R0N1N187 posted...
2) Coinbase


Is this all I need to buy Bitcoin/have a wallet/use to pay a merchant/Receive money? Or do I need to download Bitcoin also?

You just select which currency to buy and buy it.

If you buy $100 worth of Bitcoin, you'll get $100 worth of a Bitcoin. Which would equate to like 1/3000ths of one coin


Okay. So a Merchant I want to pay accepts "Bitcoin".

All I need to do is have a Coinbase account, buy the Bitcoin currency... then how do I get that money to the Merchant? And can that Merchant deposit bitcoin into my Coinbase account?

Is that all I need is Coinbase to make transactions?

Yes
---
The person who writes for fools is always sure of a large audience.
Friend Code: 2723-9696-7248
... Copied to Clipboard!
Topic List
Page List: 1