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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. 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, and Revoult 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 0.25% maker 0.40% taker 0.00001 BTC or Free LN Deposit Fiat=USwire+5USD or SEPA free Swan Free for first 10k, thereafter 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 OSX are less secure environments. Best wallets for securing small amounts of BTC Blue wallet Android and IOS and OSX https://bluewallet.io/ https://www.youtube.com/watch?v=R9mq1a8bLbQ electrum For Windows, OSX, Linux and Android https://electrum.org/ https://www.youtube.com/watch?v=E4EhZg5QslI Blockstream Green For Windows, OSX, 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 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://blockstream.com/jade/ https://www.youtube.com/watch?v=cLFmd98mKNw https://www.youtube.com/watch?v=z2VsgoFh78o BitBox 2 = $133 https://shop.bitbox.swiss/en/products/bitbox02-bitcoin-only-4/ https://www.youtube.com/watch?v=6D4FgJo3j64 Cold Card Hardware wallet = $158 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 per-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 also have close to zero knowledge in crypto/investing and too broke at the moment and foreseeable future to put any money into this. I can try to forget about it again and continue living as if it’s not there but with its all time high recently I feel the urge to start learning/doing something with it to or work towards increasing or to just broaden my knowledge with the intent to work with it. I know I have a lot of ground to cover and not much to work with but any information help would help a lot. Much appreciations in advance! submitted by /u/QuiG0ne [link] [comments]

I know that one wallet can manage multiple UTXO addresses. But, if I make a backup of a wallet file, then continue to transact using the original, do the wallet diverge in their knowledge of UTXOs? Example: Have a wallet with 1 BTC in 1 UTXO. Back up the wallet Spend 0.1 BTC. The 0.9 BTC change ends up in a new UTXO address. Open the backup, what do I see? I ask because I opened an old copy of a wallet using the old wallet app from back then, and it's showing a zero balance and no transactions after an event like what I described above. I still have my little stash perfectly fine in my active copy of my wallet that I use through a current app. But, it makes me nervous about ensuring my backups will work properly in the future. submitted by /u/mindcandy [link] [comments]

I blinkist the Bitcoin-Standard-book and saw Bitcoin is now at a 100.000 Mark. As an Investor, does it make sense to buy Bitcoin? If i buy stocks i know it generates work and value, but what about bitcoin? It's digital Gold, i normaly don't buy gold, does it mean i should also avoid bitcoin? submitted by /u/user2017not [link] [comments]

I seek a wallet that doesn't download the entire BTC blockchain (Blockstream Green for example?) & connect to my local Regtest server. I teach an introductory hands-on class using Testnet3 BTC. Students bring their smart phones & we send each other testnet BTC (=tBTC). But I run out of tBTC because of transaction fees. If I can teach it using Regtest I could simply generate my own Regtest BTC & never worry about supply again. How to do this, esp. architecturally? Do I need to install some kind of Electrum or Electrum Personal Server? or? Also I'm having trouble finding an Android/Iphone wallet that works w/ Regtest...? Has anyone ever done this? Any advice welcome please. submitted by /u/Tiny_Assistance_3038 [link] [comments]

I put some money into BTC using CoinCorner a year ago but I hear a hard wallet is the safest option. Which one do you recommend? I am pretty tech ignorant. submitted by /u/Stock_Ad_7120 [link] [comments]

Hi guys, what's a fair fee to convert BTC in a fiat currency (basically selling it for euros).. I was trying to sell 485€ of BTC from my Trust wallet and it wanted to give me 463€.. submitted by /u/Remarkable-Gene-8661 [link] [comments]

BullBitcoin is considered one of, if not the, best bitcoin exchange in Canada. It is completely non-custodial, unlike Coinbase and others. What I don’t understand is, what is the incentive for this exchange to convert their bitcoin into fiat? As self-professed bitcoin maximalists, why would this service be offered? What am I missing here? submitted by /u/BombadilTheThrill [link] [comments]

I’m sure this has been asked before, but what is the best place to buy Bitcoin weekly/monthly automatically and limit fees? Then once bought, do you all recommend transferring to a cold wallet (Trezor) or is that not really necessary? Thanks in advance for the help submitted by /u/ShaggyDogLives [link] [comments]

Hello community. I'm trying to withdraw a fraction of bitcoin from Poloniex, around 500 dollars. And they are charging 0.00100000 BTC, about 100 dollars. Is that right??? Is there another way to play this crypto on a coldwallet? submitted by /u/Salomao747 [link] [comments]

What's up, Reddit Community? Some time ago I heard from my friend about this kind of selling crypto. He meant a person who can buy your crypto giving you cash in exchange, avoiding any banks or exchanges, where the money could be easily monitored. I couldn't find any crypto ATMs here in Germany and I really need my money to be withdrawn fast and without any complicated bank paperwork, so the general questions are: Is there any crypto ATMs in Germany where I can sell my crypto for cash? If not, is there any websites or any other places where I can find a person who can I meet personally to buy my crypto for cash? submitted by /u/Effective_Channel944 [link] [comments]

With Bitcoin continually increasing in adoption, and only a limited number of transactions allowed in a certain time frame, will people who own a fraction of a Bitcoin be priced out of selling due to high transaction fees? I'm worried I'll go to sell some years down the line to realize the transaction fees may be more than I have, or a significant percentage of the amount I have. What do you think? to be more specific I'm asking for about .05-.25BTC submitted by /u/jmonnsterrr [link] [comments]

Opinions? I have read the wiki. I just dont know which and why. I already have a blue wallet. submitted by /u/CabinetNervous9118 [link] [comments]

Let's say I have 100k and I believe in Bitcoin. Would you spend it all at once or buy a bit every month/week? submitted by /u/Background-Alarm-491 [link] [comments]

A little background, I have been using Coinbase for years. Also, I only buy bitcoin, no altcoins. For those of you who use Kraken, would you recommend it ? Also, Ideally I would use Strike, but unfortunately it is banned where I live lol. But I am liking what I see from Kraken and seriously considering switching over . Thanks ! submitted by /u/AccomplishedPain7409 [link] [comments]

I'm using zbd for my Bitcoin wallet because my games cash out there. Does anyone else use it? I've been sending my sats to cash app, should I do that or keep them in the wallet? submitted by /u/Almostfamousenough [link] [comments]

Ok, I get Bitcoin and I'm in. Learned the history, got in with good money, but all still sitting in different exchanges. I got a hard wallet and even running a full node but... I cannot get the transfer part (keys and how the hell do I take my coins to my hard wallet or even a soft wallet and not leave it with the options exchanges. I don't get how you would transfer coins to another wallet. I mix up keys (master code of 12-24 words) or another code needed. This part is fucking scary, afraid of fraud/losing it all, I read it can cost a fortune if not careful. I don't get it. I tried but the more I read the more mixed up I get. Is there some sort of super awesome video that explains this part? submitted by /u/hotDamQc [link] [comments]

I was thinking through this last night and theoretically wondering if memorizing two seed words and their index enough for security. Assuming you have a 24 word phrase in which order matters and a seed dictionary comprised of 2,048 words which I think results in the formula 2048^(# of seed words * # of combinations): Seed words memorized + index Combinations 1 word 2048*24 2 word 2048552 3 word 20484048 I feel like I'm missing something because everything I read says to either memorize the entire passphrase or write it down and secure it somewhere safely. It seems far simpler for me to save 22 words digitally and memorize the index and words of the other 2. submitted by /u/utility_throwaway123 [link] [comments]

If hodlers don't plan to use Bitcoin instead of fiat, due to fiat declining in purchasing power, is there any reason to embrace lightning? submitted by /u/Flurb789 [link] [comments]

Where can I buy crypto without during any kyc? Any help submitted by /u/Mean_Elevator_9564 [link] [comments]

Hey guys I am an absolute beginner just installed an app called binance. one of my co-worker transferred $ 6 to the wallet but now its $3.... so I don't know what should I do 😅. So could you guide me? Looking for genuine advice and suggestion. Also middle fingers for scammers submitted by /u/Competitive-Emu6844 [link] [comments]

I recently made a transfer from an exchange to my cold wallet, just to try and figure out some stuff. When the transaction was confirmed and the sats reflected in my wallet, I looked up my address to discover that my sats were a part of an output (among a few others) from a "more valuable" input. How do I interpret this piece of information? Are there any resources other than the documentation (that mempool provides) to help me understand everything on mempool better? submitted by /u/shubh03 [link] [comments]

Block 880208 was mined 66 mins ago. Then 73, 78, 85 mins ago. All less than 10 mins apart. Hasn't there been issues before where a patch had to be released to resolve a halt? submitted by /u/7oby [link] [comments]

So, in other cold wallets you've have 2 PINS - one for the decoy/dummy wallet & other to your main account. Entering type of PIN decides which wallet you log on to. Additionally , there is option of user-defined 25th word of seephrase i.e passphrase , using this one wallet can have multiple hidden wallets. My requirements are - I need to have a dummy/decoy wallet with small amount & my main wallet , but it should be hidden and depending on PIN I enter , I should be lead in one of 2. When connected to PC , in software there should be option of hiding the main wallet I don't need multiple hidden wallets , just one underneath a decoy wallet with small balance. I want to use 24 word seedphrase for this decoy wallet and 24 + passphrase for my main wallet, so that even if someone gets access to my seedphrase , they can only access the decoy wallet as I will rely on memory for the 25th word and not have any written record of it. Sorry if my question feels convoluted, I'm new to wallets in general , until now I have been using encrypted USB sticks to store my btc private keys in an excel file (I know it's stupid, but it worked till now but I need to move to a different country now); I don't need to transfer to an exchange or do p2p with my holdings for at least 2 years. submitted by /u/Indian15 [link] [comments]

Hi everyone, I’m looking to buy Bitcoin and hold it for the long term. My strategy is simple: no trading, no “shitcoins,” just buying and holding Bitcoin securely. I’m based in Europe and am seeking recommendations for the most secure and reliable platforms to purchase Bitcoin. Ideally, I’m looking for platforms that: Have strong security measures. Are beginner-friendly but suitable for long-term holders. Operate transparently and are regulated in Europe. Additionally, I’ve heard about transferring Bitcoin to a hardware wallet for extra security. If you have any recommendations for hardware wallets or tips for securely holding Bitcoin off-exchange, I’d love to hear them! Thanks in advance for your advice! submitted by /u/Long_Collection_669 [link] [comments]

I’m new to bitcoin and have been investing for a while - right now bitcoin is doing well and my question is - in Canadian dollars say - if I am at $150 profit can I sell $150 now that it’s at 155,000 - then buy $150 when it goes to $145,000? Like is this a good strategy for increasing my bitcoin investment? Sell when there’s a profit and buy back in when it goes back? Thanks ! Don’t PM me I won’t answer! 🙏 submitted by /u/SailorCitrus [link] [comments]