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Mining is a lost cause for the average Joe. The simplest way to buy for U.S. citizens is coinbase.com. Local bitcoins is pretty good too, and has somewhat of a
by dwaltrip 13y ago
Mining is a lost cause for the average Joe. The simplest way to buy for U.S. citizens is coinbase.com. Local bitcoins is pretty good too, and has somewhat of a global presence. Look up creating an offline paper wallet to securely store your invested coins (short version: disconnect internet, print out a few copies of paper wallet using offline version of bitaddress.org, and then reset computer before reconnecting the net). Practice a few times with small amounts first. For everyday use, security is not as important and you can keep small amounts in a smartphone wallet or desktop client.
- yeukhon 13y agoHow quickly can you buy/sell your coin. Say you buy in at $100 and then sell $110 the end of the day, possible? And really, only USC? What about with SS? And doesn't it defeat purpose if you need to prove you are a USC?
- dwaltrip 13y agoYou can do short term trading (as well as long term, of course) if you get an account at an exchange (bitstamp is good from what I hear, it's in the EU). I just mentioned Coinbase as it is easier than getting a trading account. Local bitcoins allows for anonymous trading, as it is peer to peer. All the large exchanges have to follow anti-money laundering laws and other regulations.