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I am brand new to bitcoin and I only know the very basics of it. I have a few questions:
- As the title says I am looking in ebay to buy bitcoins and there are some sellers are selling 5 bitcoins at opening of auctions for only 1 USD is it a scam I mean at the current exchange rate from my understanding 1 coin alone is valued at 900 USD which is a total value of 4500 USD is this a scam or is this legit I only ask this since should I place a bet and win for only like 10 USD the seller must be mad to take a massive loss like that
- if it isn't a scam how does the seller deposit his coins into mine do I send him my wallet address
- if I have to send him my address can he hack my wallet using my address or worse send my address to other hackers
Sorry to seem like such a noob but I had just learned about bitcoin recently and like I said previously I don't know much about it basically any information I found from bitcoins's website summarizes m=the extent of my knowledge on bitcoins
1Any offer to sell Bitcoin below its market price is almost certainly a scam. "If it seems too good to be true, it is." – Nate Eldredge – 2013-12-16T06:54:05.180
thank you for your help :) though this was an open auction so there is a chance that the seller is legit knowing that bidders will go up into the thousands to win ( in fact in a mere two hours the winning bid is at 650.00 usd the coins but for now I will stay away from ebay or any auctions which kinda sucks since I cant afford to buy a bit coin – chris – 2013-12-16T07:32:17.033
2You don't have to buy "a" bitcoin; it's perfectly possible to buy a fractional amount. Many exchanges will let you trade amounts as small as 0.01 bitcoin. – Nate Eldredge – 2013-12-16T07:38:42.070
oh cool thanks didn't know that lol I feel like such a noob right now – chris – 2013-12-17T06:05:55.220