BITCOIN UPDATE

[AlwaysAway2]

Once you have bought your Bitcoins or any cryptocurrencies for that matter, you need to store them on what's called a cold storage wallet. You don't actually store the coins onto the wallet, just the keys to the coins - the coins remain on the Blockchain. I use a Ledger Nano S . .. Trezor also make a good one.
You can also get apps on your phone to store your cryptocurrencies, indeed you can even print off a paper wallet.
My Ledger Nano is very secure - even if it's stolen or destroyed I can still recover the keys to my cryptocurrencies.

Rock Flock so pleased to have someone here who knows how it really works.
I use Trezor. Have you got any Litecoin. I am certain they are very undervalued at the moment. Even at £70.
To my mind they are like £1 notes for 20p.
AJMHO

[Rock_Flock_of_Five]

Rock Flock so pleased to have someone here who knows how it really works.
I use Trezor. Have you got any Litecoin. I am certain they are very undervalued at the moment. Even at £70.
To my mind they are like £1 notes for 20p.
AJMHO

I haven't bough any Litecoin or Bitcoin - I have 5.7 of Ethereum. I remember when I first thought about buying cryptocurrencies, Litecoin was at about 19GBP and was remaining fairly flat ... just a few pence rise or fall each day, nothing to grab the attention really. At that same time, Ethereum had reached an all-time high of 320GBP. It then dipped quite dramatically and so I bought in at 180GBP; 170GBP and finally 145GBP, feeling very pleased with myself at the time (it actually went down to 97GBP on Coinbase).

My biggest regret is not being in a position to buy Bitcoin when it plummeted to 1,370GBP during the summer ... it had dropped from around 2,400GBP in the space of about 48hrs (Coinbase charts will show it only dropped to 1,450GBP but that's because their charts only use a 2hr average price, the same with the Ethereum low of 97GBP).

I did my research on Ethereum and the consensus was that it actually out performs Bitcoin when it comes to the process of completing smart contracts - it's a lot quicker and cheaper. Both the Indian and Russian governments were said to be keen on its use too. However, Bitcoin continues to rise, I think quite simplistically because when newbies look to buy cryptocurrencies it's the only thing (Bitcoin) that they're aware of, so they buy it, Bitcoin also gets advertised a hell of a lot more in the media and banner advertising on the Internet.

I would say that most people, who buy Bitcoin, do so to hold on to it as an investment and not to use in any smart contracts. The frustrating thing for someone like myself, who is holding Ethereum, is that it is heavily influenced by Bitcoin (as is Litecoin too!). Take a look at the respective charts of those three coins and you'll notice they mirror Bitcoin's movement, they rarely move independently it would seem.

I want to try my hand at buying some Initial Coin Offerings (ICO's). It can be a bit of a minefield but it's where the big profits can be made.