Bitcoin Beginner - Am I doing it Correctly?

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  • Maelzoid
    Maelzoid Posts: 16 Forumite
    regarding banks, I have contacted First Direct (my bank) about bitcoin and they have categorically said they do not have a problem with transactions with bitcoin companies "to a small appetite" which is admittedly vague, but they clarified saying personal transactions (rather than high-volume trading) are acceptable.
  • easilyparted
    easilyparted Posts: 38 Forumite
    It may be of interest that there is now an ETF ( Exchange Traded Fund) and an investment trust dealing in bitcoins-XBT Bitcoin Tracker One (BIT XBT), and Bitcoin Investment Trust(US :GBTC).
  • dividendhero
    dividendhero Posts: 2,417 Forumite
    easilyparted wrote: »
    It may be of interest that there is now an ETF ( Exchange Traded Fund) and an investment trust dealing in bitcoins-XBT Bitcoin Tracker One (BIT XBT), and Bitcoin Investment Trust(US :GBTC).

    Leaving bitcoin itself aside, i personally wouldn't go anywhere near GBTC - firstly it's traded "Over The Counter", ie not on any recognised exchange. Secondly it trades at a huge premium over the underlying bitcoins (if indeed any are actually held)
  • le_loup
    le_loup Posts: 4,047 Forumite
    Until you are the last man standing.

    Why did you post this twice if you are not ramping?
  • chucknorris
    chucknorris Posts: 10,786 Forumite
    Name Dropper First Post First Anniversary
    Zola. wrote: »
    I wish I had a time machine to go back to 2009 and buy bitcoins

    * I have no idea how it all works *

    I'd be too busy filling in lottery coupons, football and horse accumulator betting slips to be bothered with bitcoins.
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • lucyfrancinetaylor
    lucyfrancinetaylor Posts: 69 Forumite
    edited 19 October 2017 at 12:13PM
    There is a really good helpful bitcoin tutorial on CoinCorner's page: https://goo.gl/zWgphp

    Enjoy!
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