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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 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 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 BitBox 2 = $173 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 have some understanding of mining, and crypto but the source of the value eludes me. Generally value comes from effort, material, or a mixture of the two. then someone with need of that effort or material pays for it and on down the line it goes. With crypto I cant understand who is benefitting from the effort or material (computations. I have asked multiple crypto investors, and a couple miners, and they have no clue either. All of the work millions of mining rigs are doing is effort, and that effort (I assume) is benefitting someone, otherwise why would it hold any value whatsoever. Is it providing compiutational hivemind for physics, medical, etc? Without a benefit or material going to to someone, there is no reason for it to hold any value. if it's just a computational guessing game where computers are guessing numbers in a blockchain, for the sake of gussing numbers in a blockchain, then it serves nothing other than a really expensive game. Someone has to inject initial capital for mining to hold value, and the rest comes from speculative investment, but for someone to invesy initial money and create the whole framework, it has to serve some sort of function, what is the function and who benefits from its process? submitted by /u/DreadPirateGonzo [link] [comments]

Or is a cold wallet basically mandatory? Just curious if there are people who don’t use cold wallets who have never had issues. I like the simplicity of having it all in one place. However if a cold wallet is almost mandatory, I can accept that. Just really hoping to hear people have had their money in Robinhood for years and have been fine. Tl;dr- is it safe to keep earnings in Robinhood or whatever app you use? submitted by /u/OGClouds420 [link] [comments]

I ordered the Trezor Model T Wallet from Trezor.io today for cold storage, thinking it was the newest model. Then I found out that Trezor Safe 5 is newer. Should I return the model T and switch it for the Safe 5, or is the Model T safe enough? submitted by /u/Elektroprodukt [link] [comments]

I was thinking of getting some BTC. I currently have some through PayPal just because I already had an account. River seems to share info about how much debt they have and proof that they have the BTC they say they have. Strike seems recommended but the website seems to lack substantive info. I've heard good and bad about both but what do you think is the better run business. Some of what I've seen seems to just be "I like the CEO". Or a third option, I don't really care. Thanks submitted by /u/No-More-Lettuce [link] [comments]

I feel like I do a lot of research and barely take a baby step forward. I decide to buy Bitcoin from River, but then all I see is Strike is better. I had stored some BTC on ledger, then I hear all the bad stuff about it, for ex; being closed source. So I go with Trezor because it’s open source. So I buy the Trezor Safe 5. Then I read someone commented that the Safe 5 is not open source like the Safe 3. Then I keep seeing people say the Jade Wallet is better. Just getting overwhelmed with going all over the place. All I care about is a cold wallet that will hold bitcoin safely. That’s all I ever plan on using or keeping and stacking. Do I need to just relax? submitted by /u/FFshorty_19 [link] [comments]

Bitcoin Mining is like trying to find gold in a gold mine. You have to buy expensive machines (shovels and drills), pay for a lot of electricity (fuel for your machines), and compete with tons of other people doing the same thing. If you're lucky and find some gold (Bitcoin), it can be worth a lot, but you also might spend a lot of money and not find much. It's a big gamble with high costs. ​Bitcoin DCA (Dollar-Cost Averaging) is like buying a little bit of gold every week at the jewelry store, no matter the price that day. You don't worry about when the price is best. Sometimes you buy a little more gold because it's cheaper, sometimes a little less because it's expensive. Over time, this usually evens out your buying price and is much simpler and less risky than trying to dig for it yourself. You just set it and forget it. submitted by /u/Inside_Tea_1346 [link] [comments]

Very new to crypto and have just completed a test transaction to see how the process works of buying bitcoin, selling the bitcoin and converting it back to cash in my bank account. I wanted to see the whole process. I’ve now completed that with £5, but I spent £1.05 in fees. I wanted to ask how I can reduce that please. The steps I took were: I purchased the bitcoin on Strike. (0.6p fee) Sent the Bitcoin to my wallet on BlueWallet.(0.63p fee) (there was a cheaper 24 hour option but it wasn’t available for me) Sent the Bitcoin back to my Strike account. (I had a 24 hour option here which I didn’t pick so would’ve saved me a few pence I’m sure). Sold the bitcoin on Strike (0.6p fee) Withdraw my cash into my bank. There are a few other fees I couldn’t calculate Any advice for reducing these fees would be great. Thanks submitted by /u/Train_Limbo [link] [comments]

I bought bitcoin in 2012. I got the private key, btc address and seed phrase from blockchain.info. After some time, I transferred my wallet from the btc address to Safepal, it opened in observation mode. After some time, I randomly tried the blockchain seed phrase which BIP 39 had listed, my wallet came in normal mode, then again it went into observation mode, now I have the seeds in the wrong order, I have the private key also, but the problem is that I am not able to bring my wallet in normal mode, I tried every method. I tried to find the seed phrase order but could not find it through btcrecover, the infact address limit was 100, then I tried the private key but it was coming up invalid everywhere, I tried in bitaddress, electrum, safepal, bitcoin core also it was invalid or then in electrum the sweep and import button is disabled,… if anybody knows a solution then please tell me, I need help and can you give me any instruction also, my private key is also absolutely correct, of 52 characters, starting with a K. submitted by /u/Clear_Protection_173 [link] [comments]

Hey guys been DCA for the past couple months and am just wondering when BTC reaches ATH is this when selling is a good idea and then buy back at a cheaper rate or just DCA set and forget about it. I have read about cycles and phases is this more so just a different strategy or the strategy that has a better success rate. Hope that makes sense appreciate any advice submitted by /u/ElectricalArticle985 [link] [comments]

Hello, I have a question about buying Bitcoin as an expat. I am a British citizen who is living in Thailand and I’m keen to buy Bitcoin. I’ve got so far as starting the verification on Bitkub and downloading BlueWallet to store the Bitcoin. I plan to hold this for at least a few years and see it as a fairly long term investment rather than something I want to make a short term gain on. What happens when I leave Thailand (which will happen in the next year or two) and decide to sell in (let’s say) 8 years? Will I end up paying capital gains based on whichever country I’m living in at the time of sale or is it based on where I bought it? Sorry if this is a really dumb question. Thanks for your help. submitted by /u/Financial_Ad_130 [link] [comments]

Although the timing is probably not the best, I finally decided to DCA $100 weekly on Strike. Do I need a different app to potentially buy the dip in the future? I already have Robinhood. Also, when should I consider getting a cold wallet? submitted by /u/Think-Sky-523 [link] [comments]

Can anyone help me with how to redeem my wallet in a wallet other than the original one? submitted by /u/Due_Reason_4395 [link] [comments]

I read that nobody can confiscate Bitcoin. So how is it that the USA is sitting on a pile of confiscated Bitcoin that they plan to use as a base for a strategic reserve? submitted by /u/LargeMedia [link] [comments]

My partner and I are discussing saving in BTC but they want to wait until the next halving to time the dip and buy then. I am of the opinion that we can’t be sure that the next halving has the same effect on BTC prices as prior cycles - if indeed the 4-year cycle is real - and that trying to time the dip is tantamount to gambling. I would prefer to simply begin stacking sats now - any advice? submitted by /u/shortpaleugly [link] [comments]

So for getting BTC exposure in a tax friendly account would you do MSTR or a Bitcoin ETP, don’t think ETFs are available in EU submitted by /u/Lonely_Moose_3395 [link] [comments]

Hi everyone, I’m new to cold storage and looking to set up a simple, affordable air-gapped device to use only as a Bitcoin cold wallet. I won’t be using it for anything else — just signing transactions (like PSBT files) and checking public addresses when needed. Here’s what I’m hoping to find: Budget: Around $150 or less A phone or device that works completely offline (no SIM, no Wi-Fi) A decent screen and camera for QR code use, if needed Easy to set up and maintain for someone who’s still learning It doesn’t have to be a new or high-end device — I’m totally open to used or older models, as long as they’re reliable and secure enough for cold wallet use. Also, I’m based in South Korea, so any suggestions that are easy to find or order from here would be especially helpful. Thanks in advance for any advice or personal experiences you can share! submitted by /u/Key_Structure_8093 [link] [comments]

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Is there a hot wallet that is essentially a mini computer but its sole function is to execute all crypto related functions? I’m trying to avoid buying a separate laptop for this. I watched a couple YouTube’s, but it seems like the hot wallets are apps. My husband and I have company phones. submitted by /u/Tough-Aide-4154 [link] [comments]

Remove if over answered So I understand passphrases a little but I was wondering: if I were in a situation where I couldn't access a certain kind of hardware Wallet that supports passphrases how would I recover those passphrase wallets? Am I missing something obvious? Are passphrases supported on all wallets? Would I need a wallet with the same program? submitted by /u/ghostaccount1306 [link] [comments]

Hi. I'm completely new to Bitcoin and have zero experience with crypto. I’ve been hearing a lot about it and I want to understand how to get started the right way. I’m not really into trading or getting rich quick. I just want to learn what Bitcoin is, how to use it, and maybe invest a small amount to start. Here are a few questions I have: • What’s the safest wallet to use for beginners? • Where can I buy Bitcoin (I’m from Philippines 🇵🇭)? • How do I keep it safe after I buy it? • Should I use an exchange or buy from someone directly? • What should I avoid as a beginner? I’d really appreciate any beginner-friendly tips or trusted resources. I don’t want to get scammed or overwhelmed. Just trying to learn at my own pace. I truly appreciate any help you can give. Thank you in advance. submitted by /u/sourrpatchbaby [link] [comments]

Proven track record? Idk make me feel better about my situation with no luck getting into my wallet. submitted by /u/Witty_Possibility156 [link] [comments]

If the Pi Cycle Top Indicator has been correct for the past cycles then why isn’t that the main indicator people talk about when discussing price action? I understand it’s eventually (possibly) going to be incorrect but until then it has been right every cycle. Judging by this sole indicator we may touch 180,000 this cycle and that’s if cycles are still a thing of future just as in the past. Everything short term is just noise that needs to be played out. submitted by /u/CheapElephant9767 [link] [comments]

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I get why btc is useful and has some utility. When you buy stocks you bet that the companies will do well. When you buy gold you do that to hedge inflation. But what about btc? Some say it’s debasement or the distrust of the current system. Maybe the success of the technology? But has any of that proven to be true empirically? Because I read that sometimes btc behaves like a high risk tech stock. submitted by /u/ComprehensiveDesk793 [link] [comments]

Something I can put on in backround and easily listen to. Preferably a lady but I don’t care who. I have asked ai first but I also really like human opinions🙂 I really enjoy watching “bitcoin news today” is what I search every morning on TikTok. So maybe something similar to that. submitted by /u/MonkRepresentative63 [link] [comments]