Investing in bitcoin is like investing in anything else. At the level we are currently most people believe it can go either way short term.
When I found Bitcoin it was at 28USD, I had a hard time finding a way to buy some. And bye the time I found a solution it had already risen to 57USD, should i go in or should i wait for the price to maybe drop down to 40 USD again?
My interest was long term, and in my opinion if Bitcoin was gonna catch on it was going to go way higher. For me it would have been much worse if the price continued to increased and I would continue with my mentalism of, "If it just drop 10%, i am buying in!"
A good way to limit the risk is to never go 100%. Never buy all or sell all at once.
There are already written several good guides on safety. Its key to work on a system free from spyware and key logging software. I would recommend download a linux distro and boot from it every time you handle your wallet.
And make sure you generate your wallet from a safe place.
bitaddress.org is recommended from people in the community.
Download the page on a USB stick.
Generate an address from your linux system while being offline.
Remember to STORE the prive key many places you have control over. I encrypt them using a software called TrueCrypt.
Cheers
When I found Bitcoin it was at 28USD, I had a hard time finding a way to buy some. And bye the time I found a solution it had already risen to 57USD, should i go in or should i wait for the price to maybe drop down to 40 USD again?
My interest was long term, and in my opinion if Bitcoin was gonna catch on it was going to go way higher. For me it would have been much worse if the price continued to increased and I would continue with my mentalism of, "If it just drop 10%, i am buying in!"
A good way to limit the risk is to never go 100%. Never buy all or sell all at once.
There are already written several good guides on safety. Its key to work on a system free from spyware and key logging software. I would recommend download a linux distro and boot from it every time you handle your wallet.
And make sure you generate your wallet from a safe place.
bitaddress.org is recommended from people in the community.
Download the page on a USB stick.
Generate an address from your linux system while being offline.
Remember to STORE the prive key many places you have control over. I encrypt them using a software called TrueCrypt.
Cheers