investment advice?

[erep]

Obviously, you do not know the difference between a custodial and noncustodial wallet and what is the safest between the two, I don't recommend you put or hold your Bitcoin in Binance or any exchange, the risk is just too high, go to a wallet where you control the key, and about the possibility of hacking it depends on how well you know about computer security, I always say that once you invest in Bitcoin or Cryptocurrency you are your own bank and so much depends on your knowledge of security.

Although the top exchange, but we do not recommend that someone holds it in any exchange because our assets can be taken over at any time for any reason, we are frustrated from the FTX case because I also lose funds because of the exchange scam, so we have to put assets on non-custodial wallet to be able to control the crypto assets that we have, you must also be able to protect the safety of non-custodial wallets so that no one knows, because anyone who has access to the personal key is the owner of the wallet so be careful when storing the file and is highly recommended to storing assets in the hardware wallet.

[Cryptomiles1]

I believe there are lot of resourceful material that will definitely leads you on how to start with your bitcoin journey. All you need to is seat and read gradually around the forum this question made me flashed back a says that always said "for one to hide something from those that don't like reading him or she should put it in a written form" at this point you've hide something valuable from them. That's why those who truly reads ask less questions from the forum.

[Stable090]

If you are investing in cryptocurrency, make sure you don’t leave your coin on exchange, make sure you transfer any coin you buy from your exchange wallet to your non custodial wallet, that’s the proper way to store your coin. If you leave your coin on a exchange, any day that anything happens to the exchange then you don’t have money again Also and anything can happen to the exchange at any time, the exchange can also decide to freeze your account incase if you slightly go against there rules. To have full access to your coin then store your coin on a non custodial wallet address.

[CryptopreneurBrainboss]

Take a break from investing for now because it’s most likely you would make the wrong choice, I don’t know how you learnt about Binance or trust wallet, I would guess because they are popular and you probably think it’s your best option.

How is it a wrong choice when you're investing in Bitcoin and not all the other shit coins that are been hyped by paid influencers floating all around social media especially twitter with their click bait of the next 10x to invest in. Binance is one of the most popular word and platform in cryptocurrency after Bitcoin. CZ has made it that the whole world is talking about their exchange and they're trying to buy the whole industry thereby attacking any other exchange that posses a threat to them even though they're all engage in the same shitty business.

Trust wallet was acquired by Binance so they're also benefiting from Binance dominance of the space. The OP shoudn't take a break from investing in Bitcoin but he should definitely research more and read about the currency so he doesn't fall victim to FUD when it starts spreading around. Bitcoin is at one of its lowest price that even though it was to dump further, it shouldn't bother you as the chances of you profiting more when the price reaches and surpassed it's previous all time high is huge and worth investing today.

[capedbaldy]

If you are investing in cryptocurrency, make sure you don’t leave your coin on exchange, make sure you transfer any coin you buy from your exchange wallet to your non custodial wallet, that’s the proper way to store your coin. If you leave your coin on a exchange, any day that anything happens to the exchange then you don’t have money again Also and anything can happen to the exchange at any time, the exchange can also decide to freeze your account incase if you slightly go against there rules. To have full access to your coin then store your coin on a non custodial wallet address.

Whatever coins we have must be stored in a non-custodial wallet to avoid losing assets if stored in an exchange, there is a high risk of storing assets on an exchange because exchanges do not have the potential to operate for the long term and regulations can change whenever they wish, immediately transfer your coins have a non-custodial wallet address to keep your assets safe at any time. Your assets must be managed by your own hands.

[Rigon]

I am a new member of bitcoin forum. Investing in Bitcoin can either be profitable or a loss. I will invest in Bitcoin. I don't know where to invest. Should I put it in Trust Wallet or Binance? Hoping for advice from everyone on where it should be placed? There will be no possibility of hacking. please help and advice?

Before preparing yourself to invest I think the most important thing is to have a secure wallet. If you can't create a safe space then your investment will be at risk. The two wallets you mentioned here are the two wallets I think are risky. The safest would be if you could buy a hardware wallet. If it becomes too difficult for you to buy then you can use software wallets like: Electrum Wallet, Non Custodial Wallet, etc. But the seed phrase must be kept safe so that no one can hack it.

[dansus021]

If you keep your wallet on a centralized exchange there is a possible account got hacked or a centralized exchange default/bankruptcy like what happened recently in FTX case. If you want to HODL for a long period of time use Bitcoin Wallet like Bitcoin Core or Electrum. Or you can buy a cold wallet its way more secure and its like Token Key Internet Banking.

Most people here don't recommend Trust Wallet since is a closed source and maybe backed by Binance too. But I personally use TrustWallet as my Hot Wallet right now. But like always Do Your Own Research first.

welcome, an enjoy the crypto world. 

[Arenga pinnata]

I am a new member of bitcoin forum. Investing in Bitcoin can either be profitable or a loss. I will invest in Bitcoin. I don't know where to invest. Should I put it in Trust Wallet or Binance? Hoping for advice from everyone on where it should be placed? There will be no possibility of hacking. please help and advice?

if you want to invest in the long term, for example once every 4 years you sell.
I suggest you keep it in a trust wallet if you don't have a hardware wallet yet.
but if you want to invest in the short term, for example every day or every week, saving on binance is also not a problem, because so far binance is very safe.
it all depends on your interests, want long term or short term.
adjust seja according to your ability and comfort.

[Asuspawer09]

I am a new member of bitcoin forum. Investing in Bitcoin can either be profitable or a loss. I will invest in Bitcoin. I don't know where to invest. Should I put it in Trust Wallet or Binance? Hoping for advice from everyone on where it should be placed? There will be no possibility of hacking. please help and advice?

For starters you could use something like Electrum to store your bitcoin, You could start by buying bitcoin in Binance or you could somehow trade on that platform which is I think the best platform compared to other exchanges. Most people do not recommend exchanges because there is a significant risk when you hold your funds on exchanges so make sure always to put it on your Electrum after you buy your bitcoin, Binance is already a big/number 1 exchange in cryptocurrency so you can say that it will not end up like FTX that easily you could probably store your funds there in a few weeks.

Also, you could just buy a small chunk of bitcoin every week since the market price is so volatile it is a great strategy that most investors do so that when the bull run comes, it always ends up as a profit.

[daweller1]

I am a new member of bitcoin forum. Investing in Bitcoin can either be profitable or a loss. I will invest in Bitcoin. I don't know where to invest. Should I put it in Trust Wallet or Binance? Hoping for advice from everyone on where it should be placed? There will be no possibility of hacking. please help and advice?

I think what people are saying is... don't put anything on Binance you are not willing to lose.
Not just because Binance can get hacked , or pull a Mt.Gox / FTX...
but ( in regards to using leverage ) using any leverage over 5x can quickly get you liquidated.

Getting a hardware wallet, buying some Bitcoin, and leaving it on that wallet is a good idea ( hodl )
also, engrave your seed word on a piece of steel and hide it

Personally, I love the idea of a passphrase, but it seems like others are leary of it because if you forget it, your Bitcoin is irretrievable.

[Emitdama]

When it comes to choosing a platform, there are a few factors to consider, including security, fees, ease of use, and reputation.

Both Trust Wallet and Binance are reputable platforms for investing in Bitcoin, and each has its own advantages and disadvantages, but none of them should be used to keep your assets for the long term.

Trust Wallet is a mobile wallet that allows you to store, send, and receive Bitcoin and other cryptocurrencies on your smartphone. It's known for its user-friendly interface and strong security features, including two-factor authentication and support for biometric authentication. However, you should know that as a mobile wallet, Trust Wallet is more vulnerable to hacking than a hardware wallet.

Binance, on the other hand, is a cryptocurrency exchange that allows you to buy, sell, and trade Bitcoin and other cryptocurrencies. It offers a wider range of features than Trust Wallet, including margin trading, staking, and lending. But, as an exchange, Binance charges fees for transactions, and there is always a risk of hacking or security breaches.

So, what I would suggest you is to use Binance to purchase Bitcoin, and then use a wallet to store them. If you can afford a hardware wallet, that's much better, but if you can't, Electrum should do. Electrum is also available on mobile.

[omgitsmehehe]

When it comes to choosing a platform, there are a few factors to consider, including security, fees, ease of use, and reputation.

Both Trust Wallet and Binance are reputable platforms for investing in Bitcoin, and each has its own advantages and disadvantages, but none of them should be used to keep your assets for the long term.

Trust Wallet is a mobile wallet that allows you to store, send, and receive Bitcoin and other cryptocurrencies on your smartphone. It's known for its user-friendly interface and strong security features, including two-factor authentication and support for biometric authentication. However, you should know that as a mobile wallet, Trust Wallet is more vulnerable to hacking than a hardware wallet.

Binance, on the other hand, is a cryptocurrency exchange that allows you to buy, sell, and trade Bitcoin and other cryptocurrencies. It offers a wider range of features than Trust Wallet, including margin trading, staking, and lending. But, as an exchange, Binance charges fees for transactions, and there is always a risk of hacking or security breaches.

So, what I would suggest you is to use Binance to purchase Bitcoin, and then use a wallet to store them. If you can afford a hardware wallet, that's much better, but if you can't, Electrum should do. Electrum is also available on mobile.

Investing in bitcoin is a solid alternatives in the space with probably profitable returns when it's been triggered bull in the market. Doing complex research on the entries spot usually take time but when targeted, there's absolutely hope for a better gains. I've encountered most traders in the past that uses both trust wallets and binance exchange to store their crypto assets with full confidence that's absolutely safe and secured. Moreover their firewall is not easy to get cracked by scammers, we should be able to sketch our what we need instead of following or imitating any one's ideas of choice.

[Patrol69]

I am a new member of bitcoin forum. Investing in Bitcoin can either be profitable or a loss. I will invest in Bitcoin. I don't know where to invest.

Since you are new in the investment line and you decide to invest, I suggest you to invest in Bitcoin. Because one of the most reliable coins in crypto currency is Bitcoin. While investing in other coins carries a higher risk, investing in Bitcoin is relatively less risky. And before investing, you must have a good idea about investment and then invest, so your chances of getting profit will increase a lot.

Should I put it in Trust Wallet or Binance?

No exchange wallet is safe to keep your funds safe. The only secure wallet is a hardware wallet. Many trusted exchanges have seen exchanges become scams in no time. Ftx was a very popular exchange where people deposited large amounts of money with trust but we have seen that Ftx exchange is a scam. So hardware wallet is definitely better to keep your assets safe.

[Jawhead999]

if you want to invest in the long term, for example once every 4 years you sell.
I suggest you keep it in a trust wallet if you don't have a hardware wallet yet.
but if you want to invest in the short term, for example every day or every week, saving on binance is also not a problem, because so far binance is very safe.
it all depends on your interests, want long term or short term.
adjust seja according to your ability and comfort.

There are a lot choice of good wallets, so there's no need to use Trust wallet as your hot wallet. Electrum, Blue wallet, Samourai are the best option because they're non custodial, open source and easy for beginners to use it.

Invest in the short term for every day or every week? you should move your coins after a month to your non custodial wallet because Binance is only used to buy and sell your coin, not hold for long term.

[Smack That Ace]

I am a new member of bitcoin forum. Investing in Bitcoin can either be profitable or a loss. I will invest in Bitcoin. I don't know where to invest. Should I put it in Trust Wallet or Binance? Hoping for advice from everyone on where it should be placed? There will be no possibility of hacking. please help and advice?

It's great to know you are passionate about bitcoin and want to invest in it. But even between a non-custodial wallet and a custodial wallet for storing bitcoin, you can't tell the difference, it seems you were too hasty to invest without any knowledge. I recommend that you have basic knowledge before investing, I find this basic knowledge a lot on the internet, you can find it on forums or youtube. Knowledge is what you need, not investing in bitcoin because if you don't have the knowledge, owning bitcoin can't guarantee you can hold it for long.

[Daniel91]

if you want to invest in the long term, for example once every 4 years you sell.
I suggest you keep it in a trust wallet if you don't have a hardware wallet yet.
but if you want to invest in the short term, for example every day or every week, saving on binance is also not a problem, because so far binance is very safe.
it all depends on your interests, want long term or short term.
adjust seja according to your ability and comfort.

There are a lot choice of good wallets, so there's no need to use Trust wallet as your hot wallet. Electrum, Blue wallet, Samourai are the best option because they're non custodial, open source and easy for beginners to use it.

Invest in the short term for every day or every week? you should move your coins after a month to your non custodial wallet because Binance is only used to buy and sell your coin, not hold for long term.

Honestly, if someone wants to invest serious money in bitcoin and wait for the increase in value to sell at a profit, then, in my opinion, it is best to keep those bitcoins in a ledger, an external device that is not connected to the Internet.
If you are investing on the principle that you will invest money and after that you will not do anything with that bitcoin but just wait until the bitcoin reaches the desired price, then ledger is a much better choice in terms of online security than any online wallet.
If you will be buying or selling your cryptocurrencies frequently then I suggest Electrum as an online wallet.
Just as you study online wallets, you should also study cryptocurrencies themselves, and make investment decisions based on concrete facts and analysis, not based on what you hear in the media or read on the Internet.
It's important to have a concrete investment plan and a clear exit strategy.

[cydrix]

I am a new member of bitcoin forum. Investing in Bitcoin can either be profitable or a loss.

You already got the idea what to invest. You are right, investing might be a loss or a profit but that’s why we should be ready with the risk that will happen. Investing in Bitcoin is the best idea for me as a long time crypto user. Bitcoin has the highest potential above all coins.
Long term is a good plan.
Do your own research if you already picked where to store your bitcoins for the safety of your funds. Wishing you luck on your journey!!

[Cantsay]

I am a new member of bitcoin forum. Investing in Bitcoin can either be profitable or a loss. I will invest in Bitcoin. I don't know where to invest. Should I put it in Trust Wallet or Binance? Hoping for advice from everyone on where it should be placed? There will be no possibility of hacking. please help and advice?

if you want to invest in the long term, for example once every 4 years you sell.
I suggest you keep it in a trust wallet if you don't have a hardware wallet yet.
but if you want to invest in the short term, for example every day or every week, saving on binance is also not a problem, because so far binance is very safe.
it all depends on your interests, want long term or short term.
adjust seja according to your ability and comfort.

If Op does not have enough funds to purchase a hardware wallet then he should go for a reputable open source wallet and we have Electrum as an example.
Not only is the wallet open sourced and secure but it also offers some functionality that you won't get from trust wallet for example with Electrum you can sign and verifying messages and you can even increase the security by opening a multisig wallet.

While for Binance, I won't even consider putting my coins there when I know I'm not using it for trading, no matter how small the coin may be once I'm done trading I withdraw all of them front the exchange ^{If it's up to the minimum withdrawal though} so keeping your coin there is out of the question. Or have you forgotten? Not Your Key Not Your Coin.

[WillyAp]

In investment you should more control over the infested funds.
Difficult to achieve in Central Exchanges, Banks, Stock exchanges.

Investment in products has more value.

You need to elaborate a plan of action and make sure your funds are well invested.

[kamvreto]

~snip~While for Binance, I won't even consider putting my coins there when I know I'm not using it for trading, no matter how small the coin may be once I'm done trading I withdraw all of them front the exchange ^{If it's up to the minimum withdrawal though} so keeping your coin there is out of the question. Or have you forgotten? Not Your Key Not Your Coin.

It's the right decision when you don't leave your coins on Binance or any other centralized Exchange. It would be very risky if we leave our coins in a third party Wallet that we have no control over. Learn from the FTX incident that cost everyone big money or some other Exchange hacking incident. As you do, I only deposit coins to Binance or other exchanges just to trade, when the trade is over from a certain time frame I will withdraw the coins back to my personal wallet which is safer and more controlled.