Which is better, Self-Custody or Non-custodial? Please help me.

[Nothingtodo]

Choosing a wallet is very important when it comes to cryptocurrency holding or storage especially whether you choose a self custodial wallet or a non-self custodial wallet depends entirely on a personal matter. However, Self Custodial Wallet is completely safe for a user as it is not controlled by any third party but its control system is completely on the user due to which the chances of hacking are very less. On the other hand, in case of non-self custodial wallets, the security measures are entirely on the third party due to which the user cannot do anything without their permission, which makes the chances of hacking very high.

[ChocolateBitcoinK]

(Edit)

Brother, thank you very much for explaining the subject of Self-Custody, Non-custodial and DCA so beautifully. Honestly I didn't understand Self-Custody and Non-custodial like brother @TatsuyaJemi, but now it's very easy for me. thanks you.

[Dunamisx]

1) When should I invest in Bitcoin?

When you think you've got all it takes to embrace the risk on making an investment, but before then, you will have to learn about bitcoin, have the understanding of the network and know the kind of investment youre going for, once all these have been settled, you will have a proper and convenient starting ground for your investment.

And how can you get the most out of investing?

Through the deep insight of knowledge you have in bitcoin.

I got some ideas about DCA, but don't know anything about DCA, so please tell me how to invest in Bitcoin to get the most profit and is DCA method really good?

DCA is one of the best ways through which you can invest in bitcoi and safe yourself the cost on having huge loss whenever the market dips, you can read more on what DCA is from here.

DCA Bitcoin
https://dcabtc.com/

2) How do I save my investing? What would be the safest way to store my assets? Self-Custody or Non-custodial?

None custodial wallet is best for your recommendation because you can recover your asset back if anything happened as long as you're with your keys.

[perfect999]

Too many people are missing the point, we are talking about preserving bitcoin after we buy, and the reality is that there is no wrong or right answer when we talk about this because it all depends on the person and the tool they use.

If you go with self-custody and pick something wrong or you are not someone who understands it well then you will lose it, if you know it very well and can protect it very well then it would be great, if you do non-custodial but connect to all and never understand security then you will be able to lose it all, so you will not be doing that fine, but if we are talking about something different then we are going to end up with someone who understands it and careful and that's when they are going to do fine. These are all important parts.

[Lucius]

1.This forum thread is in the wrong forum. Move it somewhere else.
~snip~

I guess you wanted to say that this topic is in the wrong board - but if you don't report it to the moderator, then it will stay here forever.


Regarding the question asked by the OP, I have to admit that @Ricardo11 gave an "impressive" answer in only about 20 minutes after the OP asked the question, it seems that the man types and thinks really fast

[milewilda]

Hello, I am a new member in this forum. I need some help from you guys, basically I want to start investing in bitcoin, I just started researching cryptocurrency and bitcoin for 4 months, I researched the pros and cons of bitcoin. And after doing a lot of research on bitcoin holdings, I found out that long term holdings can yield huge profits from bitcoins. I read the history of Bitcoin, and learned about the potential of Bitcoin.

After all I know enough about Bitcoin I decide to invest in Bitcoin.

But I have two questions for you, which I would really appreciate and be grateful if you could know:

1) When should I invest in Bitcoin? And how can you get the most out of investing? I got some ideas about DCA, but don't know anything about DCA, so please tell me how to invest in Bitcoin to get the most profit and is DCA method really good?

2) How do I save my investing? What would be the safest way to store my assets? Self-Custody or Non-custodial?

1. Investing would really be that depending on you whether you would be making yourself going for long term or you would really be going for short term.
Lets speak about long term, then you wont really be that mattering much about DCA because every entry or buy would really be consider to be good since you would really be that
still aiming for long term but of course it cant really be denied that having that low entry would really be ideal on which profits could really be that able to maximize.
If you are really just that still new to crypto space and its investing then the ideal thing that should really be done is via holding. It would really be up to you whether you would really be
trying out to make those upgrades and making up some short term trades.

2. Non-custodial.. Always consider out on storing your coins on a wallet on which you do possess or own the keys on which simply means that you do have that full
control of your funds on which it is really that totally opposite when storing up your coins on an exchange. No matter how reputable they would but still making use of
exchange wallets for long term holds would really be just that suicide.

[Saint-loup]

Hello, I am a new member in this forum. I need some help from you guys, basically I want to start investing in bitcoin, I just started researching cryptocurrency and bitcoin for 4 months, I researched the pros and cons of bitcoin. And after doing a lot of research on bitcoin holdings, I found out that long term holdings can yield huge profits from bitcoins. I read the history of Bitcoin, and learned about the potential of Bitcoin.

After all I know enough about Bitcoin I decide to invest in Bitcoin.

But I have two questions for you, which I would really appreciate and be grateful if you could know:

1) When should I invest in Bitcoin? And how can you get the most out of investing? I got some ideas about DCA, but don't know anything about DCA, so please tell me how to invest in Bitcoin to get the most profit and is DCA method really good?

2) How do I save my investing? What would be the safest way to store my assets? Self-Custody or Non-custodial?

LOL bro where have you seen that "that long term holdings can yield huge profits from bitcoins" ? It uses to do it for early adopters, when the market was very small or inexistant, now this are different. Nobody can guarantee you will make any profit by holding BTC, and you won't lose money instead. DCA won't help you for that, you will maybe lose less money, if Bitcoin crash but you will win also less money if a new bull run happens.

[doomloop]

1. Investing would really be that depending on you whether you would be making yourself going for long term or you would really be going for short term.
Lets speak about long term, then you wont really be that mattering much about DCA because every entry or buy would really be consider to be good since you would really be that
still aiming for long term but of course it cant really be denied that having that low entry would really be ideal on which profits could really be that able to maximize.
If you are really just that still new to crypto space and its investing then the ideal thing that should really be done is via holding. It would really be up to you whether you would really be
trying out to make those upgrades and making up some short term trades.

2. Non-custodial.. Always consider out on storing your coins on a wallet on which you do possess or own the keys on which simply means that you do have that full
control of your funds on which it is really that totally opposite when storing up your coins on an exchange. No matter how reputable they would but still making use of
exchange wallets for long term holds would really be just that suicide.

Having something like this is quite important to understand your own personal preferences. I get that it is not going to be that easy, because figuring out who you are in the trading and investing world takes time and not everyone can do it easily, a lot of people take time and fail to do a proper research on it and have failure after failure in many cases.

However, when you finally figure out who you are , then you are going to end up getting better results for every question because you will know who you are and what you are looking for, which is the best thing you can do about this. I believe that it is going to be fine, but it is not going to be that easy to handle if you do not know yourself. If you could do that, then when you ask yourself anything, you have the answer already. I prefer non-custodial, but that doesn't mean that it's the right choice, could be wrong, I also keep my money in exchanges, which everyone dislikes so do not look at me for example.

[Sim_card]

1) When should I invest in Bitcoin? And how can you get the most out of investing? I got some ideas about DCA, but don't know anything about DCA, so please tell me how to invest in Bitcoin to get the most profit and is DCA method really good?

You can invest in bitcoin the moment you have the money to do so, and make sure that you are using part of your discretionary income to invest in bitcoin so that it will not affect you financially.
DCA is one of the best method for beginners to start their bitcoin investment journey because you will be buying every week or month regularly so that you can build and grow your bitcoin portfolio overtime.

2) How do I save my investing? What would be the safest way to store my assets? Self-Custody or Non-custodial?

Self custody is the same with noncustodial. When using a self custody wallet, it gives you the right to control your coins by yourself because only you have the private keys. Stay away form centralized or custodian wallets because they will be in full control of your coins.