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  • FIRST POST
    • richb007
    • By richb007 7th Dec 17, 7:24 PM
    • 5Posts
    • 1Thanks
    richb007
    BitCoin
    • #1
    • 7th Dec 17, 7:24 PM
    BitCoin 7th Dec 17 at 7:24 PM
    Hi
    I bought £50 of Bitcoin in the summer in 2 lots. Today its at £192 in my Blockchain wallet which is great.
    Questions
    is it safe??
    Why is it over £200 if google its value??
    Shall i move it to a different wallet provider/are Blockchain legit??
    Can i just exchange to my Bank Acc?

    I am aware Blockchain is the name of my wallet provider and the term used to describe the process.

    Any experts or those in the know..
Page 1
    • markj113
    • By markj113 7th Dec 17, 8:12 PM
    • 125 Posts
    • 93 Thanks
    markj113
    • #2
    • 7th Dec 17, 8:12 PM
    • #2
    • 7th Dec 17, 8:12 PM
    online wallets are not the most secure.

    If you plan to hold it long term you can create a paper wallet on an offline computer that is cheap to do and secure. Just keep it somewhere safe and possibly create a backup copy.
    • planteria
    • By planteria 10th Dec 17, 8:56 PM
    • 4,865 Posts
    • 1,065 Thanks
    planteria
    • #3
    • 10th Dec 17, 8:56 PM
    • #3
    • 10th Dec 17, 8:56 PM
    what does it mean to..
    create a paper wallet on an offline computer..
    Originally posted by markj113
    please?
    • DennisTenus
    • By DennisTenus 10th Dec 17, 9:45 PM
    • 96 Posts
    • 8 Thanks
    DennisTenus
    • #4
    • 10th Dec 17, 9:45 PM
    • #4
    • 10th Dec 17, 9:45 PM
    Hi
    I bought £50 of Bitcoin in the summer in 2 lots
    Originally posted by richb007

    Where/how did you buy it?
    • jennyjj
    • By jennyjj 10th Dec 17, 10:19 PM
    • 224 Posts
    • 341 Thanks
    jennyjj
    • #5
    • 10th Dec 17, 10:19 PM
    • #5
    • 10th Dec 17, 10:19 PM
    Hi
    I bought £50 of Bitcoin in the summer in 2 lots. Today its at £192 in my Blockchain wallet which is great.
    Questions
    is it safe??
    Why is it over £200 if google its value??
    Shall i move it to a different wallet provider/are Blockchain legit??
    Can i just exchange to my Bank Acc?

    I am aware Blockchain is the name of my wallet provider and the term used to describe the process.

    Any experts or those in the know..
    Originally posted by richb007
    Congratulations on your investment success.
    Is it safe: The risks are error, fraud, or plain old bubble burst, so not really a safe store of value.
    Even the most trusted businesses on 'tinternet could be fraudulent, careless, or plain unlucky. Read the media accounts of bitconnect and nicehash issues or just google 'bitcoin stolen' or 'bitcoin fraud'. or google mtgox .So, your choice who you trust. It's a jungle out there.
    Just lately, because of volatility, prices are being reported with wide variation.
    Banks won't hold your bitcoin, but you could sell them for pounds sterling, about as easy as when you bought them.
    Something to be said for crystalising your profit.

    oh yes. and just google 'create paper wallet for bitcoin' It basically creates a printable document which is the key or password to your bitcoins. lose or have that document copied, hacked, compromised or stolen and your wealth is gone. Mess up wallet creation and you may simply lose access to those bitcoin forever.
    Last edited by jennyjj; 10-12-2017 at 10:22 PM.
    • planteria
    • By planteria 11th Dec 17, 10:00 AM
    • 4,865 Posts
    • 1,065 Thanks
    planteria
    • #6
    • 11th Dec 17, 10:00 AM
    • #6
    • 11th Dec 17, 10:00 AM
    thank you jennyjj..

    and is there a particular risk with 'messing up'? is there anything to watch out for in particular?

    is it a matter of getting Email and Password right, and ensuring that all Usernames and Passwords are noted correctly?
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