Exchanges, Wallets and Keeping My $$ Safe

[regularsteve]

I am a Canadian who is new to this.  Saw all the hoopla about bitcoin going up, and want to jump in.  I am in the process of wiring CAD $$ to QuadrigaCX.  I am prepared to lose $$ making poor investments, but certainly want to avoid having whatever I buy get stolen or somehow losing it.

Is it that dangerous just leaving whatever I buy on QuadrigaCX?  For it to be at risk, QuadrigaCX would have to get hacked or do something nefarious, right?

Using wallets or something of that nature seems more risky to me, because I have no idea how to do it!  What if I mess up, and think I am protected but am not, or make some error and don't even realize it?

In short, what is the best way for a newbie to keep his crypto investment safe, without a steep learning curve?

Thanks!

Steve

[keefryan]

Very simple.     Buy a trezor.  You will sleep well.   Kr

[BitcoinHodler]

Is it that dangerous just leaving whatever I buy on QuadrigaCX?  For it to be at risk, QuadrigaCX would have to get hacked or do something nefarious, right?

yes it certainly is dangerous and it had already happened with so many different exchanges that you should consider it a real possibility!

Using wallets or something of that nature seems more risky to me, because I have no idea how to do it!  What if I mess up, and think I am protected but am not, or make some error and don't even realize it?

In short, what is the best way for a newbie to keep his crypto investment safe, without a steep learning curve?
Thanks!
Steve

learn it!
it is not that hard. the hardware wallet that the brand new account above suggested is a good option. there are a couple of them created which you can choose one and buy it.

and to reduce your nervousness you can just use the wallet with a small amount of bitcoin and test things out to learn how they work. then move millions into it

if you want a simple wallet i suggest Electrum. go to their website electrum.org and read their wiki. it is easy to use and easy to learn.
you can also read these two links:
https://bitcoin.org/en/getting-started
https://bitcointalk.org/index.php?topic=1631151.0

[ImHash]

First of all I have no idea what is Quadriga whatever but nice try though you sneaky little noob safest way to store your coins is by generating addresses via bitaddress.org in offline mode, meaning after you opened that site just disconnect your internet and generate a few addresses and save them with their private keys and deposit your coins in them and go to sleep knowing their completely safe. unless you are looking for excuses to bash the security of bitcoin then I'd suggest to check directory.io to have a look at all the bitcoin addresses and their private keys

[Ozsayuri]

I am a Canadian who is new to this.  Saw all the hoopla about bitcoin going up, and want to jump in.  I am in the process of wiring CAD $$ to QuadrigaCX.  I am prepared to lose $$ making poor investments, but certainly want to avoid having whatever I buy get stolen or somehow losing it.

Is it that dangerous just leaving whatever I buy on QuadrigaCX?  For it to be at risk, QuadrigaCX would have to get hacked or do something nefarious, right?

Using wallets or something of that nature seems more risky to me, because I have no idea how to do it!  What if I mess up, and think I am protected but am not, or make some error and don't even realize it?

In short, what is the best way for a newbie to keep his crypto investment safe, without a steep learning curve?

Thanks!

Steve

[regularsteve]

yes it certainly is dangerous and it had already happened with so many different exchanges that you should consider it a real possibility!

Yikes!  As a newcomer, the fact that a Vet like you tells me this indicates a serious flaw in this economic model.  Can't help but think this does not bode well for cryptocurrency.

if you want a simple wallet i suggest Electrum. go to their website electrum.org and read their wiki. it is easy to use and easy to learn.
you can also read these two links:
https://bitcoin.org/en/getting-started
https://bitcointalk.org/index.php?topic=1631151.0

Thanks for the reply and the links.  I was excited to get 4 replies, but yours is the most helpful of the lot.

Hopefully I can find what I need in the links and not become another sad Bitcoin story.