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What is Bitcoin? Bitcoin is scarce, decentralized, and global digital money that cannot be censored. Transactions once confirmed generally cannot be reversed Less than 21 million Bitcoin will exist Bitcoin is highly divisible to allow for micro-transactions (up to 13 decimal places in a payment channel) Bitcoin is an open, collaborative project that no company or government controls belonging to the people Bitcoin is more than just money, but a secure timestamping ledger, payment rail, and smart contract platform Please read the Whitepaper for an general overview of bitcoin as designed https://bitcoin.org/bitcoin.pdf Quick Advice Do not respond to strangers messaging you with investment advice or offers and read how to avoid being scammed from the posts below. Do not invest in Bitcoin until you do basic research, paid off all high interest debt, and have a emergency savings account of a stable fiat currency. If investing do not expect to get rich quickly. You should expect to wait at least 1-2 years before taking profits. Bitcoin is currently very volatile. In the interim spend and replace Bitcoin because its a useful currency. Beginners should avoid all mining and day trading until at least very familiar with Bitcoin. Mining is very professional(You cannot efficiently mine with your computer and need to buy special ASIC machines) and most people lose money day trading. More info on mining : r/bitcoinmining Never store your Bitcoins on an exchange or web wallet. Buy your bitcoins and withdraw it to your personal wallet where you actually own them instead of IOUs. Services like webull should be avoided because you cannot withdraw or use Bitcoin. Make sure you make a backup of your wallet(software holding keys to your BTC) and preferably keep it offline and physical and private. Typically 12 to 24 words you write down on paper or metal. This onetime backup will restore all your keys, addresses , and Bitcoins on a new wallet if you lose your old wallet. Beginners should avoid altcoins, tokens, and ICOs at least initially until they learn about Bitcoin. Most of these are scams and you should be familiar with the basics first. Bitcoin is referred to as BTC or XBT. Exchanges Requiring ID Verification Bitcoin = BTC or XBT on exchanges Exchange Buy fee* Withdraw BTC Notes Cash App Sliding ~0.75% to 3% 0 Same day withdraw for free, USA only Coinbase 1-7% 2-8 usd ~7Day hold on withdrawing Bitcoin for ACH deposit Coinbase Advanced trader 1.20 % taker 0.6% maker and lower 2-8 usd ~7Day hold on withdrawing Bitcoin or €0.15 EUR SEPA fee Gemini 1.49% over 200usd for web network fee Gemini Active trader 0.4% Taker 0.2% maker network fee Kraken Pro 0.25% maker 0.40% taker 0.00001 BTC or Free LN Deposit Fiat=USwire+5USD or SEPA free Swan 0.99% 0 Fees decrease based upon buying plan Bitcoin Well 1% 0 USA and Canada Coincorner 1% for over 300 network fee UK exchange, 2.5% for card/free uk bank deposit Strike 0.99%- 0.39% fees 0 Free DCA investing option Note: Exchanges all have unique market prices and spreads so fees alone will not tell you the best rates. Best way is to directly compare the rates between exchanges. Buy fees above are for normal trading volumes. Verification and hold times can vary based upon lack of history, verification level or credit. During bull markets when exchanges are extra busy it is normal to see very slow and poor customer support due to the amount of new clients and support tickets. We see many complaints due to this across all these exchanges. This is part of the reason this subreddit exists , to help answer questions for new users. More exchanges per location For a preferred way to buy Bitcoin without ID use a Decentralized Exchange (DEX) use https://bisq.network or https://learn.robosats.com/ Recommended Wallets Tip: If you cannot afford using a hardware wallet use a recommended wallet in ios or android. Windows and macOS are less secure environments. Best wallets for securing small amounts of BTC Blue wallet Android and IOS and macOS https://bluewallet.io/ https://www.youtube.com/watch?v=R9mq1a8bLbQ electrum For Windows, MacOS, Linux and Android https://electrum.org/ https://https://www.youtube.com/watch?v=NNZdbYd8PUQ Blockstream Green For Windows, macOS, Linux, IOS and Android https://blockstream.com/green/ https://www.youtube.com/watch?v=DesN85bWmGA Best wallets for securing small amounts of BTC and sending lightning transactions Breez LN wallet for Android and IOS https://breez.technology https://www.youtube.com/watch?v=t_4b-y4T8bY Or Green https://www.youtube.com/watch?v=QtMXsJxx1X0 Or ZEUS https://zeusln.com https://www.youtube.com/watch?v=oIohVX7PeAA Or Phoenix https://phoenix.acinq.co/ https://www.youtube.com/watch?v=cbtAmevYpdM Other Lightning wallets - http://lightningnetworkstores.com/wallets Lightning wallets are not intended for long term storage where you never open them for many months. They are intended for spending wallets that you regularly use. Securing Larger amounts of Bitcoin Trezor Safe 3 = ~79 USD https://trezor.io/trezor-safe-3-bitcoin-only https://www.youtube.com/watch?v=qWRI4VTHiuI Blockstream Jade = $79.99 https://store.blockstream.com/products/blockstream-jade-hardware-wallet https://www.youtube.com/watch?v=cLFmd98mKNw https://www.youtube.com/watch?v=z2VsgoFh78o Blockstream Jade Plus = $169.99 https://store.blockstream.com/products/jade-plus https://www.youtube.com/watch?v=rv_cN7F7-TM BitBox 2 = $143 https://shop.bitbox.swiss/en/products/bitbox02-bitcoin-only-4/ https://www.youtube.com/watch?v=6D4FgJo3j64 Cold Card Hardware wallet = $177.94 mk4 https://store.coinkite.com/store/coldcard https://www.youtube.com/watch?v=kocEpndQcsg https://www.youtube.com/watch?v=f8dBNrlwJ0k Seedsigner ~80-100 dollars pre-assembled https://seedsigner.com/ https://www.youtube.com/watch?v=AZqlIkJf0mA https://www.youtube.com/watch?v=1c5SR8v8l1M Best Advanced Bitcoin Wallet= Sparrow To link your hardware wallet to and run a full node. Pros= Great privacy and security Cons= UX is for more experienced users, takes ~week to sync and requires ~7GB minimum disk space if pruned. Only available in desktop so typically should be used with a hardware wallet https://sparrowwallet.com/ https://www.youtube.com/watch?v=HLi8p9aTlBQ https://www.youtube.com/watch?v=GSHyKTigNQY Further Resources https://www.lopp.net/bitcoin-information.html https://www.lopp.net/lightning-information.html https://bitcoiner.guide https://planb.network submitted by /u/bitusher [link] [comments]

I am relatively new to bitcoin. Can someone explain exactly what the concept of “proof of work” is. My understanding is that it is the computations required to mine a bitcoin which takes large amounts of energy to produce because of the computational force needed. How does this relate to its value compared to other assets, stores of money? submitted by /u/AgitatedJury9632 [link] [comments]

I'm trying to figure out the most secure and trustworthy method to generate a seed phrase for long-term self-custody. My current setup: - Keystone 3 Pro hardware wallet - Sparrow Wallet as frontend - Bitcoin Core (pruned) as backend - Planning to move to a full node setup on a Raspberry Pi + SSD soon I looked into a few seed generation methods (with some help from ChatGPT), and here’s my current thinking: Dice method (manual entropy): Sounds great for true randomness, but I don't have a fair dice—and I’m not confident in trusting a regular one. So I ruled this out for now. Libbitcoin tool: Seems like a solid option, but building it on Tails OS turned out to be too complex for me. Ian Coleman’s BIP39 tool (air-gapped): This looks doable, but I’m cautious and want to hear what others here think before proceeding. Is it safe if done entirely offline? Hardware wallet (seed generated on device): I don’t fully trust the firmware for something as critical as seed generation, so I’m hesitant to rely on this alone. Software wallet: I’m unsure about the quality of entropy—especially if it’s not using a true random number generator. So, how do you generate your seed phrases? What’s your personal threat model and preferred method? I’d appreciate any advice or best practices from people here with more experience. submitted by /u/rupsdb [link] [comments]

It seems that using a node is the way to go for security. I’ve ordered a tangem card that only works on your phone and not my Mac. But you can’t install a node on your phone. Does this mean Tangem is not as good for security? Should I instead invest in another air gapped open source cold wallet for my PC so I can use a node? Thoughts? submitted by /u/Professional-Fig8282 [link] [comments]

Has anyone used this feature on either app? Which would you trust the most? I’ve been using cash app but seen Reddit post of people claiming their account was closed and wasn’t given an explanation on why… anyone use cash app and haven’t had any issues?? submitted by /u/thehighdon [link] [comments]

submitted by /u/pickitlickitrollit [link] [comments]

Hi guys, As the title say, does anyone know if this is possible? Jade's GitHub page indicates compatibility with the T-DisplayS3, and since both (T-DisplayS3 and T-HMI) use the ESP32-S3, I think it would be possible to install Jade on this option. Could anyone give me some information? Thank you very much. submitted by /u/Anon-3721 [link] [comments]

Hey, I'm a 16-year-old guy and I'm interested in getting started with Bitcoin mining. I'm thinking about buying a used Antminer for around 2,000 NOK (roughly $190 USD). I have two main questions: Is there actually any money to be made with this kind of setup? What exactly do I need to get started? I'm totally new to mining, so any advice would help a lot! Thanks in advance :) submitted by /u/Ok-Preparation-301 [link] [comments]

Hi guys, I'm a student investing into Bitcoin with small capital and I've been trying to figure out the best way to store my BTC. Problem is, if I use the native network, during a true bullrun (like in 2021 where I heard fees were close to 100usd) the fees would be assimetricaly big to my holdings and would not be worth paying, trappping my BTC in my wallet. Also I don't plan to just hodle into infinity so with time my bag would be big enough for the fees, I want to sell during bulls and buy back during bears. My two other options are to just keep the coins on Binance (or a safer exchange) or use some sort of wrapping like the one Binance offers on their chain. I'm aware of the risks of these, that's why I'm skeptical to choose them, but if I don't, I run out of options. Lightning network also came to my mind, but as far as I know, its not capable of safe hodling for months or years, just quick payments, so I also can't use that. What would you do in my case? submitted by /u/Blacklight165 [link] [comments]

So from my understanding a private key is made from a seed created from 24 seed words and an optional passphrase or "25th word". Each seed word represents an 11 bit numbers which when put together gives you the 256 bit string to represent any number from 0 to 2^256 (-1 as its index 0). So in decimals any number from 0 to 115,792,089,237,316,195,423,570,985,008,687,907,853,269,984,665,640,564,039,457,584,007,913,129,639,935. And ultimately you end up with a private key which is a 256bit / 64 character hexadecimal. However what i dont understand is how using the passphrase or 25th word doesn't create more seeds than the range in a 256bit number? I assume your private key is different if you use a passphrase vs if you dont? So how many possible private keys are there? Or could one seed phrase with a passphrase potentially give you the same private wallet key as a completely different seed phrase with a different passphrase? submitted by /u/randousername888 [link] [comments]

So today my bf (30M) who is not in charge of our finances decided to buy 80 USD worth of Bitcoin on CashApp. He wants me to put it on the "round up" feature. I guess my misunderstanding is, is this a good idea? Does the money grow? I have CD's and I understand that and planning on opening an IRA because I understand them, I mean the outline is very I guess "easy to understand"but Bitcoin has me baffled Edit: I guess my question lies between is this a good idea or is using the round up feature for a 4% interest savings account better ? submitted by /u/Cool_Mom1 [link] [comments]

What is the incentive for a user to broadcast transactions to other nodes, or serve other nodes the blockchain if requested? What do they gain from this, and what's the incentive to do so? Is it just to help the network health? But what if you're selfish and don't care? I don't mean passively listening to another node. I mean you could still verify every transaction yourself and have your own personal copy of the blockchain, just not serve that data to anyone else, since it would cost you resources to do so. submitted by /u/mikey_60 [link] [comments]

I am fairly new to Bitcoin. About a year ago I sold my 401k and bought BTC. Unfortunately I was not educated enough on the subject, so I bought the BTC in my Fidelity account. I'm not really sure what to do with it now. I'd like to put it in a cold wallet (which I'm still learning about), but Fidelity doesn't allow the transfer. And I would really like to avoid pulling it out and paying taxes on it. Any advice on the situation is appreciated. submitted by /u/JLynn3334 [link] [comments]

submitted by /u/Harikrishnakumar [link] [comments]

If I have some NKYC, is it sufficient to store it at a separate addess or should it be stored on a completely different wallet? submitted by /u/liberatedbeing [link] [comments]

I’m new to BTC. I DCA $100 usd biweekly and may up that to $150 usd soon. I just purchased a Trezor 3 to transfer my Coinbase balance of just over .01 BTC. After reading how many have had issues with Coinbase I’ve decided to switch to Strike to auto buy from now on. After going down the rabbit hole I came across UXTO. My plan was to transfer the biweekly amount immediately to my Trezor. My question is will each transfer create a new UXTO? Would it be better to let my balance grow to .01 before transferring to my cold wallet? Lastly I came across mempool to see realtime transaction fees. Is this a good site to monitor for combining UXTOs to minimize fees down the road? I’m guessing the best time to combine is when the graph is in the green below the 1500 mark? If there’s guides for these answers I’d appreciate the help. I just want to secure my digital assets in the best way possible and avoid fees, and others ability to see my entire wallet. Thanks for any info and advice! submitted by /u/KcCap [link] [comments]

im trying to buy some, but i cant figure out where, places like hodl hodl dont work for me...i need a quick way of getting it, any idea where? submitted by /u/sadbrokeflurry [link] [comments]

I’ve manually created and signed a Bitcoin transaction in Electrum that includes a large number of small UTXOs (dust). Because of this, increasing the fee to 1.0 sat/vB would result in the fee being over 50% of the total transaction value — which I’d like to avoid. The transaction is fully signed and ready to be broadcast, but when I try to send it, I get the following error: The server returned an error when broadcasting the transaction. Consider trying to connect to a different server, or updating Electrum. min relay fee not met I’ve already tried multiple Electrum servers listed under Network → Servers, but none of them accept transactions with a fee lower than 1.0 sat/vB. Does anyone know a currently working Electrum server (ElectrumX, Electrs, or Fulcrum) that has a lower minrelaytxfee setting and will relay low-fee transactions? Alternatively, is there a known way to broadcast such a transaction from within Electrum without having to run a full node? Thanks in advance for your help. submitted by /u/Mysterious-Carob1515 [link] [comments]

I have been getting some weird emails sometimes within the past year but i always deleted them because most of the time they would pop on my spam folder. A few weeks ago I decided to open one and it was some wallet?type website I think. It said you haven't logged into your account for a year so it will be deleted in a few hours. I was relieved but also confused thinking it was nothing. I got one email today saying some stranger gifted me a bitcoin also something else that was weird i clicked the link and it said that i don't have access to Google drawing.i never made an account on any website like that and it worries me now.i always thought of them as scams so just deleted them. Also i can't find the site that i supposedly have a wallet on.i never made a wallet how could i have one? I don't have any screenshots because I forgot before deleting.i hope this makes sense.im a complete beginner who has just read a few articles on crypto.any help would be appreciated submitted by /u/Commercial_Shirt7907 [link] [comments]

I asked Meta AI a question: So if I understand correctly a BIP39 seed phrase plus “hello” like passphrase is as secure as a BIP 39 seed phrase without passphrase. Meta AI answered me this: In summary, the BIP39 seed phrase + "hello" passphrase combination is as secure as a BIP39 seed phrase without a passphrase, in terms of entropy and resistance to brute force attacks. Do you agree with this answer? Of course as long as the seed phrase is not compromised. submitted by /u/Pfdtup [link] [comments]

So looking at the last page of keys.lol it seems like every private key on that page has transactions... Why is this? https://keys.lol/bitcoin/904625697166532776746648320380374280100293470930272690489102837043110636675 submitted by /u/randousername888 [link] [comments]

Going to be putting £10 a week into bitcoin on revolut, no idea what I'm doing. Any advice would be great. Thanks in advance submitted by /u/Unique_Champion4032 [link] [comments]

Hi, I am trying to set up the same wallet on multiple Nano X s but cannot seem to do it. Device #1 is correctly setup with 24 word recovery phrase and a passphrase. It shows my wallet on Ledger Live when I connect. Device #2 I enter the same 24 word recovery phrases and then same passphare. I log out and login with the passpharse pin. But when I connect to Ledger Live it does not show the same wallet but shows an empty wallet. Device #3 I tried the same steps as #2 but still shows an empty wallet. Any ideas why I am not able to see my wallet with btc when I setup on aditional devices? submitted by /u/HelpfulReception7044 [link] [comments]

New to this sub. Know very little about Bitcoins. I am saving up for my daughter’s education, which she will need when she enters university in two years from now. My investments currently include FAANG stocks, Index Funds, some Bank and Healthcare stocks. Doing well in the overall returns, but i was thinking of diversifying further. I was thinking about Bitcoin ETFs. I’m based out of Canada. Questions: 1. Is now a good time to buy Bitcoin/ Bitcoin ETFs? 2. What should be my investment horizon given i’d need the money in next 2-4 years 3. Which are some of the good ETFs? 4. What are some of the things/risks i must keep in mind? Thanks for your time and advice submitted by /u/DarkKnightTO [link] [comments]

What would this congressional act do to how bitcoins are bought and sold as investments? submitted by /u/GiftLongjumping1959 [link] [comments]

I bought a Blockstream Jade classic, transferred a small amount of bitcoin and feel like I have a herbal idea of how it works but not enough confidence to transfer the rest of my Bitcoin. What can I do to feel confident with my hardware wallet and better understand everything? Also, separate question; what are you guys doing to ensure if something happens to you your significant other can figure out how to access your crypto? submitted by /u/tycksena [link] [comments]