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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 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 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://www.youtube.com/watch?v=E4EhZg5QslI 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 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 = $135 https://shop.bitbox.swiss/en/products/bitbox02-bitcoin-only-4/ https://www.youtube.com/watch?v=6D4FgJo3j64 Cold Card Hardware wallet = $167.94 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]

So after purchasing $100 worth of btc . I noticed once in my wallet it goes up and down from $99 to $98 then back up to $99. i believe i misunderstood the term hold and didn’t realize it still apart of the market fluctuations. 😂😂 i find it funny though because i had the intention of “oh you can buy and just hold it without losing any value” but actually turns out it depends on how the market is going as well! 🤣🤣💀 still kinda chuckling at myself. 🤭 but hey! i manage to orange pill myself and happy to finally be part of this type of crypto asset history!!!! 😄✌🏽 submitted by /u/studentdasher [link] [comments]

I love bitcoin. I think that it is an idea and that its time had come. I'm ready to use bitcoin. I'm pretty poor and looking to purchase a house, so I am not really looking to invest so much. But I would like a piece of the bitcoin action. I want a slice of the pie. Now, what does HODL mean? THanks for reading submitted by /u/wildtownunited [link] [comments]

Hi everyone, I was reading about OP_CAT and it says everywhere that this will enable more complex operations and allows bitcoin script to become « turing complete » , can someone how and why ? I didn’t understand how does this incoprorate with the utxo model submitted by /u/Fabulous-Neat8157 [link] [comments]

Why isn’t there a commonly accepted / implemented hash phrase process for public addresses? Wouldn’t that make verifying a wallet / destination easier? Eg when sending to “1F1tAa…Nn4xqX” wallets show a readable format produced by another hash, such as “correct horse battery staple.” It wouldn’t replace verifying your transaction data, but would help give a bit more piece of mind when sending. submitted by /u/JophesMannhoh [link] [comments]

Question for bitcoin veterans about Cold Storage: From what I understand; when practicing cold storage You have to be thoughtful and deliberate about your next steps and protecting your seed phrase + passphrase. Let's say you currently have a hardware wallet for cold storage, you have two backups: 1) your physical seed you wrote down on paper and 2) your memory how much do you think about your backup? how often do you practice reciting your 24-word seedphrase? how often do you revisit your physical backup to make sure it is still there? how often do you transfer from exchanges to your hardware wallet? do you check your balance in your hardware wallet monthly? submitted by /u/mrcactusjack [link] [comments]

Is bitcoin really cheap right now? I have a vehicle that's fairly expensive worth 30k+ but thinking I should sell it and buy bitcoin ASAP. What y'all think? submitted by /u/FeistyAd6833 [link] [comments]

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People ask me about Bitcoin a lot, I usually send them a link to the WIM? Saylor Series podcasts (which I love) but thats 8 hours of content. What do you recommend as a beginner video or podcast?? submitted by /u/reddituser888 [link] [comments]

Woke up to the news that Spar (european grocery chain) is piloting bitcoin payment in selected outlets, don't know the details. Any European brother actually used this? Does it require a third party KYC'd app like Binance to pay or I can pay directly from my wallet (like Blue wallet)? Cannot wait for some American chain to follow suit. submitted by /u/CheetahGloomy4700 [link] [comments]

Looking to deposit $500 usd worth of bitcoin. Where is best for beginners and has the largest sign up bonus? Thanks. submitted by /u/frankincenser [link] [comments]

Purchase nonkyc sats from robosats, using cash sent to seller via strike. Receive sats as lightning with aqua wallet. Swap to on chain via boltz. Is this an ok plan? I was previously mixing using whirlpool, but of course that is no longer an option. submitted by /u/Flurb789 [link] [comments]

So, I have been trying to understand the basic functioning of lightning, but cannot connect the theory with the practice. This is what I mean. Any theoretical introduction starts by assuming two persons, Alice and Bob, want to pay each other without on-chain settlement every time. So they open a channel, put sats that move along the channel etc. Then even if Charlie and Alice want to exchange sats, they can both use existing channels to Bob without opening their own channel etc. Makes sense somewhat intuitively. But in practice, all I do is use my Aqua wallet to generate an invoice or pay into a merchant's invoice. I do not see any concept of channel or anything at a user level. So I need to bridge the gap between these two seemingly different worlds. As an example, supppose I am booking a vacation on Travala and they show me an invoice to pay 800,000 sats. So when I pay using my Aqua wallet, where are the channels and such? Any resource to learn about this? submitted by /u/CheetahGloomy4700 [link] [comments]

I've decided to run my own full node. Although I'm reasonably new to Bitcoin, I'm fairly well experienced with Linux and associated tech. I've picked up a well-specced small form factor pc and added additional fast storage. My question is: should I go with something like UmbrelOS/StartOS or just install Debian/Ubuntu and roll my own server setup? I suppose the DIY way will be an enjoyable learning process, so that's a consideration too. If I go down the pre-setup route, I'm currently leaning towards StartOS. Update After installing both StartOS and Umbrel I've decided that neither are for me. I'm going down the DIY route with a fresh Debian install. submitted by /u/DanOverlay [link] [comments]

I set up Aqua wallet on my phone, and backed up the 12 seed words. But the wallet also has a Spending account where I have some lightning/liquid bitcoins. Now, if my phone dies, then I assume I can retrieve the on-chain coins with the seed phrase? But does the seed phrase back up the lightning and liquid coins as well? Or will they be irretrievable? submitted by /u/CheetahGloomy4700 [link] [comments]

If I get a cold storage (Ledger) wallet and that wallet is damaged can I still access my funds from a new device as long as I have the keys? Have you had any problems with cold storage wallets? Any advice is appreciated thank you in advance. submitted by /u/Daveyjames77 [link] [comments]

looking for something small and quite around $150 to $200 cad tell me what i can buy yes i will be mining in a pool and i spelt cheap wrong shit submitted by /u/meowisthabest [link] [comments]

I can verify my on chain bitcoin balance by putting my address on blockchain explorer or any of the other service providers. But how to do it with lightning and liquid bitcoin? Does lightning have any such neutral platform like blockchain explorer to know my balance? Or do I have to trust my wallet software (Aqua on Android) to know my lightning balance? submitted by /u/CheetahGloomy4700 [link] [comments]

I had written yesterday about my account suspension. Yesterday evening (around 10pm UK time) I read the answer from Kraken on Reddit (I did not even know they have a Subreddit of their own), and they invited me to contact them. I answered to the message and called. I received prompt feedback from both channels, and they have a 24/7 desk where you can talk with actual humans, who even give you their names, confirm the matter is in hand and tell you very clearly what is going to happen now and what the expected waiting time is. This morning, I woke up to an email saying that the problem was solved. Could not have wished for a better service. Had I known that they were so efficient I would have phoned in the morning instead of in the evening! All in all, I have found an outstanding level of service, and I would like to inform the esteemed readership of the fact. submitted by /u/ManlyAndWise [link] [comments]

Which platform/app allows you to purchase about 0.003 BTC from a bank account or debit card and then send it to another wallet the same day or within a couple days? I tried using Coinbase and I got the bitcoin but they put a hold on sending it for 5 business days, and Binance is saying my buying limit is $0 for some unknown reason even after successful ID validation. Is this possible with Cash App or would they also place a processing hold on sending? Or is there a better recommended platform for this? Thanks 🙏 submitted by /u/lilitharcana [link] [comments]

So I’ve been really needing out on the Bitcoin network and I just have one question about what wallet would be the most secure if not all the same. Wallets that are created from: Cold storage, bitcoin nodes, bitcoin miners Which ones is the safest if any? submitted by /u/loc710 [link] [comments]

really low on cash for a while….only can put 100$ a month in(if im lucky) should i put that in all at once or try to spread it out? submitted by /u/Standing_firm_ [link] [comments]

I just need to buy a value of less than 100$ in Bitcoins to pay something else with it, do I absolutely need to provide my whole identity and adress ? submitted by /u/LoizoMokeur [link] [comments]

I should have received EUR 1200 from my brokerage account on Kraken Pro this morning. This is my third deposit, there was a first one for EUR 50 and a second one for EUR 950 before, everything was fine. This time, instead of receiving the usual confirmation from Kraken that the money has landed on my account (my brokerage account has confirmed that the payment was executed), I have received an email saying that the funding is suspended as they are conducting one of their "occasional reviews of customer accounts"; my account will be reviewed within 48 hours and I am - obviously - required to provide any information they would request. At the beginning I thought this was a phishing email, but my Kraken account does not show any money. Because the payment was made at the exact same account, I have inferred that the payment has landed and it is, in fact, suspended. My account has passed KYC before I made the first transaction, and as said everything has proceeded without issues up to now. Of course I will wait and I will provide whatever document or information is requested, if any such is requested. I wanted to know if this is a regularly occurring event, or whether they are suspecting anything more sinister? In my past life (in Italy) I turned out to have the same name and same date of birth of a guy with an extremely long rap sheet, which is why I am a tad alarmed now. Only think I can think of that they might find "strange" is that I did the "test" payment from another wallet (or form my UK checking account, I don't remember now), but these three payments all come from one of my brokerage accounts, which is located in Luxembourg. The account is mine and I am the sole owner. HMRC can "see" the account through the international tax compliance agreements. Therefore, it should be extremely easy to verify that the account is mine and I am moving some Euros from the brokerage to Kraken. Thanks to all in advance EDIT: all solved, and brilliant service (see new post), submitted by /u/ManlyAndWise [link] [comments]

Tell me if I'm seeing this wrong: If I have a Hodl-only strategy, can I use my cold wallet to generate my seed offline, make one transaction, get the xpub, and create a watch-only wallet that can receive transactions? Meanwhile, can I reset my cold wallet and reuse/import it when I need to spend? Or am I misunderstanding this strategy? Thanks! submitted by /u/nkabessa [link] [comments]

Suppose I enter all the words of my seed phrase except the last one, which I don't remember well. Is there a maximum number of times after which if I make a mistake, access to those bitcoins is "blocked"? Or can I keep trying without problems until infinity? (It is a hypothetical case, it has not happened to me) submitted by /u/Zuumo [link] [comments]