Thinking about investing in one bitcoin.

[CooperMyers]

I've been looking to invest in BTC for a while. I was thinking about purchasing one BTC and holding long term. (Up to 5 or 10 years). Can someone walk me through the process of purchase and any tips for cryptotrading. 

[Sir Asvald]

Too much work mate. You need a PC that mines you bitcoins. It's not worth it. You'd end up paying for electricity.

[TheRandomness]

2 minutes ago, Abdul201588 said:

Too much work mate. You need a PC that mines you bitcoins. It's not worth it. You'd end up paying for electricity.

You can buy a bitcoin.

[Sir Asvald]

2 minutes ago, TheRandomness said:

You can buy a bitcoin.

Oh. Fail.  I though he wanted to mine bitcoin.

 

 

[Lurick]

You sign up at a trading company, say CoinBase for example, link your information and then buy a bitcoin. You create a wallet address and you transfer that bitcoin to a wallet which you keep safe, backed up, in triplicate, and then you HOPE and PRAY for 10 years that Bitcoin stays viable and raises to somewhere in the neighborhood of 7K to 12K in the next 10 years. If it does not raise to that price in 10 years, you'd have been better off investing it in something like a retirement account with a 5% to 10% average return and sitting on it.

[Unimportant]

6 hours ago, Lurick said:

You sign up at a trading company, say CoinBase for example, link your information and then buy a bitcoin. You create a wallet address and you transfer that bitcoin to a wallet which you keep safe, backed up, in triplicate, and then you HOPE and PRAY for 10 years that Bitcoin stays viable and raises to somewhere in the neighborhood of 7K to 12K in the next 10 years. If it does not raise to that price in 10 years, you'd have been better off investing it in something like a retirement account with a 5% to 10% average return and sitting on it.

While I agree on the Caveat emptor, this seems to be somewhat unrealistic. Seeing that we live in a zero-interest rate world (negative interest rates even), where even junk bonds yield less then 5%, any investment that returns "5% to 10%" will be extremely risky aswell.

[Lurick]

7 hours ago, Unimportant said:

While I agree on the Caveat emptor, this seems to be somewhat unrealistic. Seeing that we live in a zero-interest rate world (negative interest rates even), where even junk bonds yield less then 5%, any investment that returns "5% to 10%" will be extremely risky aswell.

My 401K has averaged ~7% over the past several years and I wouldn't say I'm a risky person in that regards.

[pat_13b]

If you want to invest in a whole bitcoin, you might want to consider "dollar cost averaging" strategy to regulate some of your exposure. 

[Unimportant]

1 hour ago, Lurick said:

My 401K has averaged ~7% over the past several years and I wouldn't say I'm a risky person in that regards.

So, obviously heavily invested in stocks (which many ppl would classify as risky) - the last several years being a maturing bull market. After a bull comes a bear, let us see the total performance then.

You cannot comment on bitcoin, or any other asset, over the long term (10+ years) - and then compare to a few cherry picked years in a stock bull market.