Looking for advice from a very newbie

[Samuel0610]

Hi everyone, I'm pretty new to cryptocurrency in general, and I'm trying to figure out the best way to buy and store it.

I’ve heard a lot about Bitcoin, but I’m a bit confused about how to get started. What’s the safest way to purchase Bitcoin?
Are there specific wallets I should be using? Should I keep my Bitcoin in an exchange wallet, or is it better to use something like a hardware wallet?

Really appreciate all your advice guys!

[EstherBtc]

Hi everyone, I'm pretty new to cryptocurrency in general, and I'm trying to figure out the best way to buy and store it.

I’ve heard a lot about Bitcoin, but I’m a bit confused about how to get started. What’s the safest way to purchase Bitcoin?
Are there specific wallets I should be using? Should I keep my Bitcoin in an exchange wallet, or is it better to use something like a hardware wallet?

you can just use a cex in the beginning with a small amounth of purchase. and keep them there. after a while when you adapt to ecosystem you can choose the way yourself.

I agree with you 100% also if you are in a country where bitcoin trading is prohibited i advice you use peer to peer to buy your coins. If you do not trust your exchange wallet you can use an independent wallet or hardware.

[Patikno]

As newcomer to crypto safest way to buy Bitcoin is through reliable exchange like Coinbase or Kraken or Binance. For storage you have two main options soft wallets which is easy to use but riskier because it is online or hardware wallet like Ledger or Trezor which is physical device that stores your Bitcoin offline and is much safer for larger amounts. It is best to start by buying small amount and keeping it on exchange then moving it to hardware wallet as your investment grows for better security.

What you said is true. If OP or anyone (especially newbie) want to buy cryptocurrency or Bitcoin, you can use several well-known exchanges, preferably top the top fives cex. However, if you want to store it safely, it iss best to do so in a personal wallet (non-custodial wallet). You should also be aware that storing it in a custodial wallet carries internal and external risks, while a non-custodial wallet only carries one risk, that is a personal error (internal). And, if you want to use a hardware wallet, you can choose one that is open source, so it can be audited.

Additionally, Ledger might be an option, but it seems to have an issue with its open source code, even so, the party has the answer regarding this, (CMIIW). Trezor is also an option, and as far as I know, it is fully open source.

For reference, please see the following:

- Ledger is 95% OpenSource, why not 100%?
- Trezor fundamentals

[Peanutswar]

Hi everyone, I'm pretty new to cryptocurrency in general, and I'm trying to figure out the best way to buy and store it.

I’ve heard a lot about Bitcoin, but I’m a bit confused about how to get started. What’s the safest way to purchase Bitcoin?
Are there specific wallets I should be using? Should I keep my Bitcoin in an exchange wallet, or is it better to use something like a hardware wallet?

Most of the exchange offering to buy and sell of your Bitcoin now if you are into your privacy you can use the DEX if not still recommend to use a CEX because they are beginner friendly at all, for storing your funds its ideal to you have your own wallet here in crypto we have the concept of Not your keys, Not your coins so ideal to hold your coins at your own avoid storing into these exchange because if anything happen to their platform or even with your account you cannot make your funds safe at all. You can use a trezor or a ledger hardware wallet.

[2Pizza410000BTC]

Hi everyone, I'm pretty new to cryptocurrency in general, and I'm trying to figure out the best way to buy and store it.

I’ve heard a lot about Bitcoin, but I’m a bit confused about how to get started. What’s the safest way to purchase Bitcoin?
Are there specific wallets I should be using? Should I keep my Bitcoin in an exchange wallet, or is it better to use something like a hardware wallet?

Welcome to the Bitcoin Forum. If you have heard a lot about Bitcoin, then it is very good and it will be much easier for you to learn about Bitcoin and buy it. However, you can use exchanges to buy your Bitcoin, but which exchange you use depends on you, but to buy from exchanges safely, you can use Binance, Kucoin, Bybit, Gate.io etc. exchanges.

Whether you use a specific wallet to hold your Bitcoin is entirely up to you. You can also use an exchange account or use an exchange wallet, it is also entirely up to you. Also, if you have enough money, I can suggest you buy a hardware wallet and keep your Bitcoin there, which will be the safest for you.

[Awaklara]

Whether you use a specific wallet to hold your Bitcoin is entirely up to you. You can also use an exchange account or use an exchange wallet, it is also entirely up to you.

You should not advise beginners to keep their assets on exchanges. If you advise someone to buy Bitcoin, you should also tell them the safest way to store it.
You certainly know that exchanges are not a place to store assets. You can leave your assets there, but you certainly know the risks. If you are sure to buy Bitcoin for investment, then study some recommended wallets and own one of them.

[Zanab247]

Hi everyone, I'm pretty new to cryptocurrency in general, and I'm trying to figure out the best way to buy and store it.

Welcome to Bitcointalk community, I believe you have go through the rules that governed this community. I don't know how financial buoyant you are to buy crypto, reason why I ask you is  to no the best time for you to buy crypto to be among the enthusiasts that is hodling crypto. If you don't have the wisdom of crypto don't buy until you have the wisdom before you can buy what you can afford to lose, because you will not hodl anybody liable if you loss you capital in crypto investment.

I’ve heard a lot about Bitcoin, but I’m a bit confused about how to get started. What’s the safest way to purchase Bitcoin?

Since you have interest on BTC, first of all, make sure you download electrum wallet before going to the market to buy BTC, because you will use secure wallet to hodl the BTC for short period or long period of time and nothing will happen to your BTC in your wallet. The safest way to buy BTC is when you have the money to buy BTC as you want and hodl, because any price you buy BTC when surly pump above that price in five years time.

[AYOBA]

Hi everyone, I'm pretty new to cryptocurrency in general, and I'm trying to figure out the best way to buy and store it.

I’ve heard a lot about Bitcoin, but I’m a bit confused about how to get started. What’s the safest way to purchase Bitcoin?
Are there specific wallets I should be using? Should I keep my Bitcoin in an exchange wallet, or is it better to use something like a hardware wallet?

When it comes to cryptocurrency, having knowledge about it is the best key to success. Because there are some of the new members that will have interest in Bitcoin, but they won’t seek knowledge on how it works, what the best way for the market to be profitable is, what the market value is to be able to sell, and how it functions; and that’s why most of the people fail whenever they buy and store it.

Yes, of course, there’s some specific wallet that you can first download in order to get what you want, like Electrum, but still there are some of the members that prefer to use an exchange wallet just to make their journey easier and faster, and that’s why they don’t need to use the Electrum wallet.

[CryptopreneurBrainboss]

Are there specific wallets I should be using? Should I keep my Bitcoin in an exchange wallet, or is it better to use something like a hardware wallet?

There are lots of quality and safe wallets to use but not any of the centralized wallets as they're becoming a norm that they even get suggested to newbies. Hardware wallet are the ideal wallet but as a newbie I won't recommend you start with that to avoid making some mistakes that causes you, your coins in the future. We have few wallets like electrum that are good software wallets to use. Exchange should only be for trading and not hodling of your investments. Before investing, invest your time on researching to know more about the industry to avoid regrets because there's no refunding or recovery of stolen coins in the industry.

[reagansimms]

I’ve heard a lot about Bitcoin, but I’m a bit confused about how to get started. What’s the safest way to purchase Bitcoin?
Are there specific wallets I should be using? Should I keep my Bitcoin in an exchange wallet, or is it better to use something like a hardware wallet?

As a beginner in the field of Bitcoin investment, of course you are still confused about how to buy and store Bitcoin safely. The first step is to choose a trusted and reputable exchange. I recommend Binance. If you have other options, you can try them as long as they have a good reputation.
Then use a secure wallet that can control the private key. As a first step, you can try Electrum. Then, make regular wallet backups to avoid data loss. Lastly, do not store Bitcoin and any other assets in an exchange wallet as exchanges are at risk of being hacked, unless you are willing to risk an amount.

[abaeze]

Since you are new, you will have to spend time in the forum first and read a lot. By reading, you will gradually learn everything step by step and be able to solve it, so I have given some links below. Go to these links and read a little carefully, then you will learn something good. The real learning about Bitcoin is here. This is a forum for learning.

Unofficial list of (official) Bitcointalk.org rules, guidelines, FAQ --

https://bitcointalk.org/index.php?topic=703657.0

posting etiquettes
https://bitcointalk.org/index.php?topic=5184741.0#post_altgiveaway

bitcoin job list
https://bitcoinerjobs.com/

bitcoin history
https://bitcointalk.org/index.php?topic=5438353.0

bitcoin education
https://bitcointalk.org/index.php?topic=5467597.0

[Justbillywitt]

I’ve heard a lot about Bitcoin, but I’m a bit confused about how to get started. What’s the safest way to purchase Bitcoin?

There's no safest way to purchase bitcoin, it's either you purchase bitcoin from a centralised exchange (cex) or Decentralised exchange (Dex). Both of the exchanges are Safe for someone to purchase bitcoin. It all depends on individual preferences. But I will suggest you use centralised exchange, it will be easier for you to understand. As a newbie that haven't purchased bitcoin for the first time,  you might find Dex a bit challenging to understand.

[KiaKia]

Hi everyone, I'm pretty new to cryptocurrency in general, and I'm trying to figure out the best way to buy and store it.

I’ve heard a lot about Bitcoin, but I’m a bit confused about how to get started. What’s the safest way to purchase Bitcoin?
Are there specific wallets I should be using? Should I keep my Bitcoin in an exchange wallet, or is it better to use something like a hardware wallet?

You've done your diggings already so there isn't much left for you to know, if you already know what a hardware wallet is all about you don't need to ask anything else, the best crypto wallet is hardware wallet.

There are two types of hardware wallet though, one is closed source and other is open source, I will advise you to buy a open source hardware wallet, open source means transparency of their source code and its public.

Wallets like Ledger is a closed source, and they have stupid issues here and there, I would avoid them at all cost, Trezor or Tangem are good example of open source hardware wallet, they are very reliable.

And if you want something that has extra security go with OneKey or Keystone, as beginner it's not a must to buy hardware wallet for starter but it will safe you a lot if you can get one.

[AmaGold70]

Hi everyone, I'm pretty new to cryptocurrency in general, and I'm trying to figure out the best way to buy and store it.

I’ve heard a lot about Bitcoin, but I’m a bit confused about how to get started. What’s the safest way to purchase Bitcoin?
Are there specific wallets I should be using? Should I keep my Bitcoin in an exchange wallet, or is it better to use something like a hardware wallet?

Welcome to the world of cryptocurrency and bitcointalk buddy, as a beginner that is just getting started it can be overwhelming for you at first but you are at the right place seeking for help. The forum has all the information you need to equip you, so basically you will need reputable exchanges to buy and store your Bitcoin and I don't recommend you buying from anyone because you might get scammed,  not even your family member is to be trusted with things like this. There are reputable exchange wallets like binance or coinbase that you can store your Bitcoin but for extra security measures you should use hardware wallet that stores your private key offline and it is way more safer than exchange wallets and if you are using an exchange wallet don't ever store a large amount of Bitcoin in it.

[Distinctin]

You still have a lot of things to learn before you consider buying bitcoin. Invest in yourself first by acquiring right amount of information and valid concepts and ideas that will help you throughout your bitcoin journey. The forum is a perfect avenue for that. And when you’ve gained them already, go DCA with bitcoin by buying a small portion of it regularly. And always prefer a non-custodial wallet so that the full control is in you, not on the exchange or the other party involved.

[Darker45]

Just take note of certain keywords. When it comes to wallets, cold is preferred over hot. Open-source is preferred over closed-source, not partially open-source but fully open-source. Non-custodial is highly preferred over custodial.

When it comes to purchases, peer-to-peer is preferred over buying with intermediaries. Non-KYC is also preferred over KYC platforms. Exchanges giving importance to privacy is much preferred over those who implements shotgun KYC.

[Lembo69]

It is better to focus on learning before buying Bitcoin. Because if you want to climb a tree, you first have to learn how to climb a tree so that it is not difficult to get down. Stay regular in this forum, I hope you will learn a lot. Try to read the posts of the legends more and more. And buy and invest according to the season. However, if you have money, you can buy Bitcoin and start investing right now. Invest through the DCA strategy in a new situation. Because the DCA strategy will make your money a risk-free investment.

Choose a safe wallet as a wallet. Use a hot wallet through which you can check your mobile wallet and try to know more about this. However, learn first and invest later because it is better not to take risks in a new situation.

[The Cryptovator]

Great to see you are interested to learn about Bitcoin; for that you need to be active on the forum. You can buy Bitcoin in various ways, like from an exchange or P2P. Even you can buy from the forum currency exchange section as well. But always try to use an escrow service, though it's quite hard to find escrow if you are dealing with fiat. Or from the exchange, you can buy using a card or P2P, then move funds to your noncustodial wallet to secure it. Don't leave your funds in a centralised exchange unless you are day traders; they could freeze your funds.

Regarding wallets, it's always better to use an open-source hardware wallet to secure your funds. In case you are unable to buy a hardware wallet, then it is better to use a noncustodial wallet like Electrum. Whatever wallet you choose must secure your wallet seed in secure places. Not only in a single place, write it on multiple pieces of paper and save it in different safe places. Never store your wallet credentials in any online storage.

[POPOLUV]

Hi everyone, I'm pretty new to cryptocurrency in general, and I'm trying to figure out the best way to buy and store it.

I’ve heard a lot about Bitcoin, but I’m a bit confused about how to get started. What’s the safest way to purchase Bitcoin?
Are there specific wallets I should be using? Should I keep my Bitcoin in an exchange wallet, or is it better to use something like a hardware wallet?

You done marvelous by being able to express yourself on the areas you still finding it difficult to understand when it comes to the kind of wallets you should be using to accumulating your Bitcoin portfolio and to my best of my knowledge as i have gone through so many posts that the different members has already contributed here so far, i know that it will surely go a long way in building up Bitcoin portfolio and i will advise that you shouldn't only rely on the informations you can get from here, you should do more research to learn more and to be updated in any areas of cryptocurrency.

[CryptSafe]

Why do you rush to invest? For quick profits? I bet you don’t even know well your investment so never rush on it, it’s never an emergency that requires immediate action. For now, educate yourself first and know all the basics prior to investing, and as always, listen from the experts, I mean the old investors in the forum as they will guide you throughout the process.

Mayɓe the fear of missing out is what prompted the rush investment without knowledge of the investment. This are some silly mistakes newbies do make. When they hear something, what is expected of them to do is to get a clear understanding of the process involved and also to know the pros and cons of the investment if they can be able to withstand it for the time being because not all investment yields profits that quickly. OP should just take time to learn and acquire more knowledge about the investment before jumping into it.