Ask for help: How to get start in bitcoin world

[AnonBitCoiner]

Understand basics like the following:

1. Learn to back up your wallet balance
2. Learn to save your private keys and do not share them
3. Learn bitcoin balance typo errors can be made eg: 0.1 when you meant 0.01
4. Learn bitcoin is a non reversible payment
5. Learn to use reputable escrow with +1 or higher
6. Know in the bitcoin world of business anything can be gone within in instant.

Is backing your btc wallet really necessary?

I suppose, it is unnecessary if I just buy/sell. is it right?

Yes if you want to keep your bitcoins online without having a wallet on your computer, but I don't know if that is very safe.
If the site goes down or is hacked, you could lose control of the bitcoins. : /

Online shared wallet are not 100% secure. The operator have full control of your Bitcoins, try using wallets like blockchain.info and enable 2FA. Since they do not have any control over your Bitcoins, you will not lose them if they get hacked or run away. It is pretty much secure from hacker too compared to normal desktop wallets as they need 2FA code to access your account.

To be honest, nothing would be 100% secure. Whether you keep a paper wallet in a physical location or an online, or a desktop wallet, there will always be insecurities; it's a wallet, like any other wallet. But I agree with the blockchain.info; it is one of the more reliable ones.

[ranochigo]

Understand basics like the following:

1. Learn to back up your wallet balance
2. Learn to save your private keys and do not share them
3. Learn bitcoin balance typo errors can be made eg: 0.1 when you meant 0.01
4. Learn bitcoin is a non reversible payment
5. Learn to use reputable escrow with +1 or higher
6. Know in the bitcoin world of business anything can be gone within in instant.

Is backing your btc wallet really necessary?

I suppose, it is unnecessary if I just buy/sell. is it right?

Yes if you want to keep your bitcoins online without having a wallet on your computer, but I don't know if that is very safe.
If the site goes down or is hacked, you could lose control of the bitcoins. : /

Online shared wallet are not 100% secure. The operator have full control of your Bitcoins, try using wallets like blockchain.info and enable 2FA. Since they do not have any control over your Bitcoins, you will not lose them if they get hacked or run away. It is pretty much secure from hacker too compared to normal desktop wallets as they need 2FA code to access your account.

To be honest, nothing would be 100% secure. Whether you keep a paper wallet in a physical location or an online, or a desktop wallet, there will always be insecurities; it's a wallet, like any other wallet. But I agree with the blockchain.info; it is one of the more reliable ones.

The offline paper wallet pretty much eliminates much of the risk, the risk of hacker getting your private key. Risk of bad RNGs can be eliminated by using mouse movement to generate a private key. Encrypting with BIP38 eliminates the risk of a person finding your paper wallet and spending it as they need the password.

[AnonBitCoiner]

Ah, you know a lot more than me. Didn't know that you could encrypt paper wallets. Thanks for the information! I'll probably have a new paper wallet when I actually decide to invest!

[waser12]

Start by buying bitcoins!

[CoTi]

Understand basics like the following:

1. Learn to back up your wallet balance
2. Learn to save your private keys and do not share them
3. Learn bitcoin balance typo errors can be made eg: 0.1 when you meant 0.01
4. Learn bitcoin is a non reversible payment
5. Learn to use reputable escrow with +1 or higher
6. Know in the bitcoin world of business anything can be gone within in instant.

Is backing your btc wallet really necessary?

I suppose, it is unnecessary if I just buy/sell. is it right?

Yes if you want to keep your bitcoins online without having a wallet on your computer, but I don't know if that is very safe.
If the site goes down or is hacked, you could lose control of the bitcoins. : /

Online shared wallet are not 100% secure. The operator have full control of your Bitcoins, try using wallets like blockchain.info and enable 2FA. Since they do not have any control over your Bitcoins, you will not lose them if they get hacked or run away. It is pretty much secure from hacker too compared to normal desktop wallets as they need 2FA code to access your account.

so to protect my wallet well is the most important thing. Can I copy the wallet to another place then delete it after I update it?

[CoTi]

actually, I am Chinese and I found it is hard to use CNY to deposit to buy BTC


maybe you will ask why don't use Chinese exchangers or why not ask in a China forum. cause I suppose the foreign one is more reliable.

[ranochigo]

Understand basics like the following:

1. Learn to back up your wallet balance
2. Learn to save your private keys and do not share them
3. Learn bitcoin balance typo errors can be made eg: 0.1 when you meant 0.01
4. Learn bitcoin is a non reversible payment
5. Learn to use reputable escrow with +1 or higher
6. Know in the bitcoin world of business anything can be gone within in instant.

Is backing your btc wallet really necessary?

I suppose, it is unnecessary if I just buy/sell. is it right?

Yes if you want to keep your bitcoins online without having a wallet on your computer, but I don't know if that is very safe.
If the site goes down or is hacked, you could lose control of the bitcoins. : /

Online shared wallet are not 100% secure. The operator have full control of your Bitcoins, try using wallets like blockchain.info and enable 2FA. Since they do not have any control over your Bitcoins, you will not lose them if they get hacked or run away. It is pretty much secure from hacker too compared to normal desktop wallets as they need 2FA code to access your account.

so to protect my wallet well is the most important thing. Can I copy the wallet to another place then delete it after I update it?

You can but there is a risk. A hacker may seize the chance to get your wallet before you delete it if you do it offline, I suppose there is no problem.

[ranochigo]

actually, I am Chinese and I found it is hard to use CNY to deposit to buy BTC


maybe you will ask why don't use Chinese exchangers or why not ask in a China forum. cause I suppose the foreign one is more reliable.

AFAIK, there is a Bitcoin ATM which you can use to purchase Bitcoins. If there isn't, localbitcoins.com would be the best choice.

[CoTi]

actually, I am Chinese and I found it is hard to use CNY to deposit to buy BTC


maybe you will ask why don't use Chinese exchangers or why not ask in a China forum. cause I suppose the foreign one is more reliable.

AFAIK, there is a Bitcoin ATM which you can use to purchase Bitcoins. If there isn't, localbitcoins.com would be the best choice.

fine, thank you so much

[Tammy Chan]

actually, I am Chinese and I found it is hard to use CNY to deposit to buy BTC


maybe you will ask why don't use Chinese exchangers or why not ask in a China forum. cause I suppose the foreign one is more reliable.

AFAIK, there is a Bitcoin ATM which you can use to purchase Bitcoins. If there isn't, localbitcoins.com would be the best choice.

fine, thank you so much

According to http://www.coindesk.com/bitcoin-atm-map/, there are only 4 places you can find a bitcoin ATM in China, which is Beijing, Shanghai, Macau and Hong Kong.
If you don't live near those 4 cities, the best option IMO is to use localbitcoins.

[Doctor Enigma]

Is blockchain.info the best online wallet for hot wallets?

[ranochigo]

Is blockchain.info the best online wallet for hot wallets?

It is one of the best as its open sourced with features with two factor authentication, no one would able to access your coins. Compared to coinbase, which have full access of your coins, blockchain.info do not have unencrypted private keys which means a hacker who can hack into blockchain.info online wallet would possibly never get your BTC. The best online desktop would still be Bitcoin Core, you would be getting the fullest control over your private key as no one else have access to your private key regardless of whether it's encrypted. Blockchain.info still have control over your encrypted private key but it would be hard to brute force. For the best online wallet with best security, blockchain.info would be recommended.

[Dabs]

Here is the simplest. Take your time, and browse through these forums, and spend an entire week reading as much as you can. Here and the wiki.

I learned everything here. And everything you need to learn is still here. Probably buried deep in some old threads.

[Tammy Chan]

Is blockchain.info the best online wallet for hot wallets?

Is blockchain.info the best online wallet for hot wallets?

It is one of the best as its open sourced with features with two factor authentication, no one would able to access your coins. Compared to coinbase, which have full access of your coins, blockchain.info do not have unencrypted private keys which means a hacker who can hack into blockchain.info online wallet would possibly never get your BTC. The best online desktop would still be Bitcoin Core, you would be getting the fullest control over your private key as no one else have access to your private key regardless of whether it's encrypted. Blockchain.info still have control over your encrypted private key but it would be hard to brute force. For the best online wallet with best security, blockchain.info would be recommended.

Well said.
Apart from blockchain.info, there are also some mutisig online wallets now such as BitGo (https://www.bitgo.com/) and GreenAddress (https://greenaddress.it/), which allows you to control your bitcoin.

[keackh]

Learn good about this currency before starting in this world.