New to Bitcoin trying to get some solid guidance
Hey guys, I’m a Canadian, and with the way things are going here economically, I’ve started taking Bitcoin a lot more seriously. I’ve been a skeptic for most of its existence, mostly because my family and friends have always been super critical of it. But after doing some of my own research, I’m finding it harder and harder to ignore. Bitcoin has outperformed almost every other investment over time, and now I’m genuinely interested. Right now I only have a very small amount of Bitcoin sitting on Coinbase. I bought it as a joke not too long ago, and somehow it’s already more than doubled in value, even with the high fees. That got me thinking more seriously about diving in properly. I want to buy a larger amount of Bitcoin and hold it long-term using cold storage. Ideally, I don’t want to leave it on platforms like Coinbase. I’ve been looking into it, but there’s a lot of mixed advice out there and it’s tough to know what’s actually good info. I’m hoping for some help from people who’ve been through this already. I’m trying to figure out what the best cold storage options are for a beginner. I’ve seen Ledger wallets mentioned a lot and they look solid, but I don’t really know the pros and cons or what the safest approach is. I’d also like to know the safest way to buy Bitcoin, how to transfer it into cold storage properly, how to protect it from theft or accidents, what scams I should be aware of, and how to keep fees as low as possible. I know this is probably entry-level stuff for most of you, but I really want to do it right. If I mess this up and lose money, my whole anti-Bitcoin circle is going to drag me forever. I’m actually trying to show them that it’s a smart move if you’re careful and do it right. If anyone can point me to some solid tutorials, walkthroughs, or just share your own tips and experiences, I’d really appreciate it. Thanks in advance. submitted by /u/zCanadianz [link] [comments]
Hey guys,
I’m a Canadian, and with the way things are going here economically, I’ve started taking Bitcoin a lot more seriously. I’ve been a skeptic for most of its existence, mostly because my family and friends have always been super critical of it. But after doing some of my own research, I’m finding it harder and harder to ignore. Bitcoin has outperformed almost every other investment over time, and now I’m genuinely interested.
Right now I only have a very small amount of Bitcoin sitting on Coinbase. I bought it as a joke not too long ago, and somehow it’s already more than doubled in value, even with the high fees. That got me thinking more seriously about diving in properly.
I want to buy a larger amount of Bitcoin and hold it long-term using cold storage. Ideally, I don’t want to leave it on platforms like Coinbase. I’ve been looking into it, but there’s a lot of mixed advice out there and it’s tough to know what’s actually good info.
I’m hoping for some help from people who’ve been through this already. I’m trying to figure out what the best cold storage options are for a beginner. I’ve seen Ledger wallets mentioned a lot and they look solid, but I don’t really know the pros and cons or what the safest approach is.
I’d also like to know the safest way to buy Bitcoin, how to transfer it into cold storage properly, how to protect it from theft or accidents, what scams I should be aware of, and how to keep fees as low as possible.
I know this is probably entry-level stuff for most of you, but I really want to do it right. If I mess this up and lose money, my whole anti-Bitcoin circle is going to drag me forever. I’m actually trying to show them that it’s a smart move if you’re careful and do it right.
If anyone can point me to some solid tutorials, walkthroughs, or just share your own tips and experiences, I’d really appreciate it.
Thanks in advance.
[link] [comments]
