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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 0.000015 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 Wallet For Windows, macOS, Linux, IOS and Android https://blockstream.com/app/ 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 Blockstream wallet 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 Trezor Safe 7 = ~249 USD https://trezor.io/trezor-safe-7 https://www.youtube.com/watch?v=EWxAc8wzfFM 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 = $149.00 to $169.99 https://store.blockstream.com/products/jade-plus https://www.youtube.com/watch?v=rv_cN7F7-TM BitBox02 Nova = $170 https://shop.bitbox.swiss/en/products/bitbox02-nova-79/?edition=bitcoin-only-edition 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=GSHyKTigNQY https://www.youtube.com/watch?v=yJpvfRl03Tw 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]

Been in Bitcoin for about a year now. Looking back, I did SO many things wrong at the start. Sharing this so new people can skip the expensive lessons I learned. MISTAKE #1: Trying to "time the market" What I did: Waited for the "perfect price" to buy, watched Bitcoin go from $45K to $52K while I waited for a dip that never came. What I should've done: Dollar-cost averaging (DCA) - buying a fixed amount regularly (like $50-100 weekly) regardless of price. This smooths out the ups and downs. How to actually do this: Some exchanges like Coinbase offer recurring buys. There are also tools like Banana Pro that automate purchases on-chain, but honestly for pure beginners, starting with exchange recurring buys is simpler. MISTAKE #2: Keeping everything on the exchange What I did: Left all my Bitcoin on Coinbase for 6 months because moving it seemed complicated. What I should've done: Learn about self-custody earlier. Started with small amount to practice - send $20 worth to a personal wallet (like BlueWallet or Electrum), make sure I understand how to receive and send before moving larger amounts. MISTAKE #3: Not writing down my seed phrase properly What I did: Took a screenshot (TERRIBLE idea - if phone gets hacked, you lose everything). What I should've done: Write it on paper, check it twice, store it somewhere safe (not with my regular documents). Some people use metal backup plates for extra security. MISTAKE #4: Trying to learn EVERYTHING at once What I did: Tried understanding Lightning Network, multisig wallets, hardware wallets, nodes, mining all at the same time. Got overwhelmed and almost quit. What I should've done: Month 1: Just learn to buy Bitcoin safely Month 2: Practice sending to personal wallet Month 3: Learn about security (seed phrases, 2FA) Month 4+: Explore advanced topics if interested MISTAKE #5: Not tracking cost basis for taxes What I did: Made random purchases at different prices, didn't write anything down. Tax time was a nightmare. What I should've done: Keep a simple spreadsheet: Date, Amount bought, Price, Total cost. Makes taxes WAY easier later. Question for other beginners: What mistakes did YOU make starting out? What do you wish someone had told you on day one? submitted by /u/Jinnapat397 [link] [comments]

Forgive me if this is a dumb question as I’m pretty new to this. Why is it whenever I buy btc, I’m always buying at a higher price than what it says currently. For instance, I just bought some at 103k, and coinbase tells me I’m buying at 105.5k + their included fee for every transaction. submitted by /u/Fickle_Geologist1006 [link] [comments]

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I use a Gemini credit card that pays "cash back" as Bitcoin, and keep some savings in an account that pays monthly interest in Bitcoin. I track all my regular purchases, but I'm unsure how to record Bitcoin that I receive rather than buy. I use CoinMarketCap to track. For example, when I received my Bitcoin interest payment on November 1st, how should I add it to my portfolio to accurately track gains and losses? Should I: Record it as if I purchased the Bitcoin at its market price when it was credited, Log it as a transfer since I didn’t technically buy it, or Enter it as Bitcoin acquired for $0? submitted by /u/edwardblilley [link] [comments]

So I just joined, and I've been reading a few posts. I want to start buying BTC, but not sure where to start. I have a Robinhood account, but I see people talking about Coinbase. I do have a CB account, but I rarely use it. I'm also seeing talk of transferring to wallets, cold wallets? And seeds? I literally have no idea what any of this means, so I need someone to explain this to me like I'm a child lol. I only have experience with regular stocks, but by the looks of things, that's not how BTC works. I want to invest regularly, I just need to know how to do this properly and safely. submitted by /u/Pomkee [link] [comments]

I was trying to pay for a $12.95 ExpressVPN subscription, but I accidentally sent the full amount of ~$934 (0.0111 BTC) instead of just the invoice amount. According to the blockchain, the payment went to ExpressVPN’s invoice address, and only a small portion was used for the subscription. The rest of the BTC was moved to another address within minutes, which still seems to belong to them. I’ve contacted support, but they claim to only see the $12.95 charge. The full amount is clearly visible on-chain, yet no refund has been made. How do these Bitcoin payment processors work? If the funds were overpaid, shouldn’t the system detect that and send the excess back automatically? Or is there any way to recover it manually if they still control that address? Would appreciate insights from anyone familiar with crypto payment gateways or similar cases. Greetings :) submitted by /u/hellyhannsen [link] [comments]

Hey all! Super random, but I looking for some help on a college essay I’m writing. It’s on if cryptocurrency should be regulated the same as traditional securities. I’m looking for some alternative sources to give me a better insight and their own opinion. These are the questions, and you if you are one of the wonderful individuals who replies that would mean a lot! And also if you reply and have a background in the field of crypto or finance in any way could you possibly let me know so we can talk more? How would you define the key differences between cryptocurrencies and traditional securities? Do you think if crypto is regulated it needs an entirely new framework instead of adapting to existing securities laws? What are the biggest risks to investors in unregulated or lightly regulated crypto markets? Any other information related to the topic that you could share Thank you so much submitted by /u/Busy-Machine3205 [link] [comments]

The Bitcoin network hashrate is near all-time highs, yet median on-chain fees have remained relatively stable over the past several weeks. This divergence suggests one of two things: either the network is experiencing a cooling of speculative activity, or it is entering a phase of higher operational efficiency, better hardware, more transactions via second-layer (Lightning) or off-chain coordination, and steadier foundational demand. In technical terms: high hashrate supports the security layer, whereas flat fees may show less congestion, which might imply either fewer transactions, or a shift in usage patterns. My question to the community: Which scenario do you think is more likely, and what additional on-chain indicators would you monitor to differentiate between a genuine efficiency-phase vs. an activity-slowdown? submitted by /u/Creative-Award-9922 [link] [comments]

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Ok so I am trying to buy funds online using Bitcoin . It says . After your transfer has received 1 confirmation click this button So I have tried sending money a couple times and I guess fuck it up each time. I pushed it I guess before it was confirmed so it wasn't able to load right. I have sent a good amount of money trying to get this right but can't seem to get it right.. Please help.. I need someone that has bought " Top -Up" bundles on the DW. Help me figure out what I am doing wrong. submitted by /u/PhilosopherHeavy1187 [link] [comments]

I am a newbie in bitcoin and started my journey very recently. I have been buying bitcoin from Coinbase (NY resident...) for now as DCA ~$100 per month. I keep everything in coinbase. When I reach to $1000 in coinbase, i plan to buy a Trezor and move $1000 to Trezor. I plan to keep this cycle coinbase to Trezor with every $1000. 1) Does this strategy make sense for a newbie? 2) I deposit cash to coinbase then buy BTC, to prevent some fees but coinbase fees are still high. However most platforms like striker does not allow NY residents. Any alternatives 3) Is keeping BTC in coinbase make sense or should I look into hot wallets until i buy Trezor? 4) Any other advice? Thanks! submitted by /u/Sombero1 [link] [comments]

Which hardware wallet supports Lightning Bitcoin? submitted by /u/athosandradelebre [link] [comments]

Im starting to believe it might be the currency of the future. I just cant wrap my head around how you will be able to use it for everyday shopping. If I buy a pizza for 0.0000020 btc would i have to pay fees for the block chain? If my employer pays me in btc would a portion get ate by fees? submitted by /u/Man_under_Bridge420 [link] [comments]

Hello everyone, Over the past few weeks, I’ve been diving deep into Bitcoin and cryptocurrencies in general. I’ve come up with a structure to secure my holdings and minimize potential risks. I’d be really interested to hear how you’ve structured your setups and what you think about my approach. I’d also like to know your opinions on Bitcoin-only vs. multi-coin wallets. Personally, I only plan to accumulate Bitcoin, so I’m leaning toward a Bitcoin-only setup. Here’s my current idea for a secure structure: I’m planning to buy a Trezor Safe 7 (Bitcoin-only edition) soon. The reason is simple: I mainly want to invest in Bitcoin and keep my long-term holdings separate from other assets. If I ever decide to build a small position in something like Ethereum, I could store that on my Trezor Safe 3. What do you think about the Bitcoin-only vs. multi-coin topic? With the new Trezor Safe 7, I’ll create two wallets — one without a passphrase and one with a passphrase. When creating the passphrase, I’ll enter it directly on the Trezor device itself to ensure it’s never typed into a computer and thus never exposed digitally. The wallet without a passphrase will be used to receive BTC from others or from exchanges. I’ll then transfer those coins to the passphrase-protected wallet, which will serve as the actual vault for my Bitcoin holdings. Structure summary: Trezor Safe 7 Standard Wallet (24 words) | Trade Account: Used for all external transactions — receiving payments, sending BTC to others, or deposits/withdrawals from exchanges. Trezor Safe 7 Passphrase Wallet (25 words) | Hold Account: Used exclusively for long-term storage of Bitcoin. No external transactions — neither receiving nor sending BTC to third parties. The only allowed transfers are between the Hold Account and the Trade Account. All incoming or outgoing funds must go through the Trade Account. When receiving BTC, I’ll forward it from the Trade Account to the Hold Account. Additionally, the Trade Account acts as a decoy wallet in case of physical coercion. Additional Security Measures: Set up a self-destruct PIN to provide a fake code in case of physical theft or coercion. Enter the passphrase directly on the Trezor Safe 7 to avoid compromise via a computer (e.g. keyloggers). General Security Rules: Never store the seed phrase digitally (no digital notes or photos — keep your key offline). Store the seed phrase on metal (likely with Trezor Keep Metal) and store the passphrase securely — but in a different location than the seed phrase. Never share your public key (XPUB) to avoid revealing your full transaction history. I’ve put a lot of thought into this structure, and I hope it might also be useful to others. I’d really appreciate it if you could review my setup and share any suggestions for improvement or point out potential security gaps. submitted by /u/FederalJob4644 [link] [comments]

For context, I buy Bitcoin on the 1st of everything month, use Ledn.io for bitcoin-backed loans to buy more digital assets (“debt isn’t a taxable event”), and have the Gemini Credit Card (rewards are in Bitcoin). Does anyone have a recommendation to not only track these transactions automatically (which is convenient but good for taxes), but also highlight to me my overall ROI automatically as well? submitted by /u/cptblondy [link] [comments]

Hi, sorry if this is a stupid question but legit looking for some advice I tried googling but the information is 2years old ish. Is PayPal a good option to Dca Bitcoin. I like how they automate it and do reoccurring buys daily with low fees. I am taking 5 bucks a day. The fees are like 2 cents per dollar . Once I get a good amount I was thinking about sending it to cold storage. Has anyone had any similar recent dealings with PayPal? Or are their cheaper options without paying for a subscription . Any info helps thanks submitted by /u/Relative-Tone-8575 [link] [comments]

Some older people want to start hodling, but not sure which setup to recommend. So far what I can figure out is Electrum with Trezor Safe 3 (Bitcoin only). Or Electrum is not necessary, could just use Trezor Suite? Though I kinda trust Electrum more compared to some JS-based "webapp as desktop app" with gazilion of dependencies, etc... submitted by /u/Talkless [link] [comments]

The other day I bought 10.000sats on exchange to see value increase/decrease easily (its a nice round number in my currency). However I noticed that the sats themselves changed amount aswell. I.e went down to 9957 or up to 10012. (Miniscule amounts im aware). I thought buying btc was buying a set amount, and the value of that would decrease/increase. As in 1kg of gold will always be 1kg regardless of its value. How I misunderstood btc as a whole or is this some exchange nonsense thingy im not aware of? submitted by /u/Kinaputtputt [link] [comments]

Hello everyone 👋 I recently purchased a Trezor Safe 3 to learn something practical before investing larger sums of money. I noticed that there are always new addresses for receiving funds. This makes sense for privacy reasons, because you can track account movements based on the address, right? But in addition to these one-time addresses, there is also a public key, which you are advised not to share because it can also be used to track all movements. However, I don't understand the difference between public keys and these receiving addresses. Thank you in advance for your help. submitted by /u/FederalJob4644 [link] [comments]

I know the safest and smartest thing to do is to get a cold wallet, like Kraken or Trezor, however I am thinking of waiting till I have a few thousand $ worth of bitcoin before I invest in one of those. Currently I am buying small amounts, around $50 a month on Coinbase exchange, then sending them to the BASE wallet bitcoin address where I keep them. Does seem like a logical way of doing it? Any thoughts? submitted by /u/audibleheat [link] [comments]

Is there any risk in leaving the bitcoin in coinbase? submitted by /u/ThrowawActual-Ad3882 [link] [comments]

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Just helped my brother get into Bitcoin, and realized how overwhelming the "beginner guides" are. They list 20 apps but don't explain what you actually need vs. what's optional. Here's my simplified stack for starting out: For buying Bitcoin (pick one): Coinbase - most beginner-friendly, higher fees but simple Kraken - lower fees, slightly more complex UI For storing Bitcoin safely: Start with exchange wallet while learning (yes, not your keys, but reduces risk of losing seed phrase as a beginner) Once comfortable, move to hardware wallet (Ledger or Trezor) For tracking your investment: CoinGecko app - simple, shows your portfolio value Or just check your exchange balance (seriously, don't overcomplicate early on) For learning strategy (optional but helpful): If you want to dollar-cost average (buying small amounts regularly instead of timing the market), some tools automate this. I use automated recurring buys on-chain. It's more advanced thing than Coinbase's auto-buy, but the setup is straightforward - connect wallet, set amount + frequency, done. Works for Bitcoin and other crypto. What I'd skip as a beginner: Day trading tools (you'll lose money) Leverage/margin (even riskier) Obscure altcoins (learn Bitcoin first) Most important: Write down your seed phrase on paper, store it safely. Don't take screenshots, don't store digitally. This is your backup if you lose access. Question: What did you wish someone told you when starting? What tools actually helped vs. just confused you more? submitted by /u/Successful-System516 [link] [comments]

I know that exchanges have a pool for all their crypto. So if me and a friend puts btc in coinbase then they all go to the same coinbase wallet. Lets say 10 btc gets stolen from the exchange, then who gets affected? Theres no way a exchange would just eat it up will they? submitted by /u/Noto987 [link] [comments]