BitCoin

richb007

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..

markj113

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

what does it mean to..

markj113 wrote: »

create a paper wallet on an offline computer..

please?

DennisTenus

richb007 wrote: »

Hi
I bought £50 of Bitcoin in the summer in 2 lots

Where/how did you buy it?

jennyjj

richb007 wrote: »

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..

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.

planteria

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?