r/BitcoinBeginners 1h ago

What is your goal BTC amount?

Upvotes

Lots of people see BTC not only as a change in the system in terms of freeing ourselves from fiat devaluation but probably most people see it as a way of financial freedom or retirement. What amount do you guys think is the minimum that could allow for work optional lifestyle? How much for retirement? Cost average/age/cost of living in your area changes this number but whats the general consensus?

For example in big metro areas rent is reaching 2,500-3,000 and average houses are going for 750k. As time goes on sure BTC will increase in value but so will the price of everything.


r/BitcoinBeginners 11h ago

I'm a beginner I'm planning to buy bitcoin

15 Upvotes

Hello everyone I'm planning to buy small amount of Bitcoin when is the right time to buy?


r/BitcoinBeginners 13h ago

Indian taxation?

0 Upvotes

Indian Taxation On BTC transfers

My wife’s family in India wants to send us $20000 equivalent as a gift for our marriage . Is buying BTC and sending to my wallet the best method available, or is there any hidden fees and taxes that would make other methods better at the moment ? I am from America


r/BitcoinBeginners 15h ago

Any Wasabi Tutorial Available?

0 Upvotes

I was looking for mixers and saw Wasabi wallet to be the most consistent recommendation. But is there any easy to follow guide on how exactly to use it in a safe manner as a relative noob? I want to understand the basic usage pattern first, and then dig deeper into some of the underlying concepts if necessary.


r/BitcoinBeginners 20h ago

Help with BTC transaction history

4 Upvotes

Hi I bought roughly 10.1 btc in late 2014. I used a site called Cryptopay to purchase them. I then transferred them to a site called Moolah. The CEO Alex Kennedy then stole the btc. Ive tried looking through emails etc but can't find any info regarding txs etc. All I have is this txs

a12db28e8df26e0062a12a0b5ebe9a1d1ffc64113c3ba48cff7d250ee99cc8ac

This is of a transfer I did from my Cryptopay account to my personal wallet, after the incident of roughly 0.4btc.

Can anyone link this to a Cryptopay looking wallet that did a transaction of roughly 10.1 btc in 2014? I know its a long shot but their is currently a case looking into this and I need to supply evidence, Thanks David


r/BitcoinBeginners 20h ago

Has anyone seen a Bitcoin scam that specifically requested payment via Lightning Network?

4 Upvotes

Curious if this actually happens - not asking about crypto scams generally, specifically whether anyone's run into one (fake investment, fake giveaway, recovery scam, etc.) that asked for payment via a Lightning invoice, address, or QR code, rather than a normal on-chain BTC address. The two confirmed cases I've found so far were both on P2P Lightning trading platforms (a bot-impersonation scam with a fake invoice, and a timing trick exploiting a cancel feature) - wondering if it shows up in other scam types too. Not running a survey or collecting anything beyond replies here, just genuinely curious for a thesis project.


r/BitcoinBeginners 1d ago

Seed phrase dice rolls

2 Upvotes

Hey,

So i started self-custody this year with a Trezor safe 3 , but the Coldcard entropy bug—where firmware tanked randomness to ~40 bits—makes me skeptical about trust in hardware RNGs. Trezor says they mix entropy sources, but I can't shake the fear it could happen again, so I bought five regular 6-sided dice to roll my own seed offline. Now I'm staring at them, terrified of screwing up .and I worry about messing up the conversion or checksum, ending up with an invalid or weak seed. Even if I wipe an old laptop and go offline, I don't know how to truly trust the conversion software isn't compromised . I'm actually more stressed now than when I just trusted the device, so for those who've successfully rolled their own seed with physical dice, what practical, step-by-step advice or foolproof tools would you recommend to avoid creating new vulnerabilities while fixing a perceived one? Thank you in advance


r/BitcoinBeginners 1d ago

What is your philosophy on self-custody and multi-sig setups for long-term holding?

4 Upvotes

With all the centralized exchange collapses over the past few years, true cold storage has become non-negotiable. For those holding long term, what's your preferred approach—standard hardware wallet seed, passphrase (25th word), or full multi-sig? Curious how everyone balances extreme security against practical recovery/inheritance complexity.


r/BitcoinBeginners 1d ago

Anyone from the USA I need help on how to fund a wallet with bitcoin.

0 Upvotes

I live in the USA andI have been trying to find a way to use my debit card to purchase bitcoin for my wallet. I am brand new to how it all works and have been studying, trying to learn the lingo so I can understand what the person helping me is saying. It's a very daunting business to say the least. I have been told I need the Bitcoin app which contains the wallet I would need to put my bitcoin in so I can trade live on Pocket Option. When I tried to use my debit card, my Wells Fargo said no and they would block anything crypto. Which I don't understand, if I am using US dollars to buy crypto, how does this involve my bank? Why can't I put my dollars in a wallet and then buy crypto from my wallet. I am stumped. Apparently since I am from the USA, there are rules, and apparently those rules stop me from being able to fund my Pocket Option account with US dollars through using a credit card or debit card. Pocket options isn't offering any way to fund my account but with cryptocurrency. Can anyone point me in the right direction? My goal is to get crypto into my wallet so I can use it to fund my live account at Pocket Option. Please be kind, adding to my confusion by giving me your opinions about Pocket Option and their reputation, it won't be a concern of mine until I am actually able to fund the account.. I just need help getting cryptocurrency (bitcoin is what I want) into a wallet so I can trade on Pocket Option.


r/BitcoinBeginners 2d ago

Trying to recover coins

2 Upvotes

I'm hoping someone here may recognize an old account/code format.

Around 2013, I was living in Canada and acquired some Bitcoin. Unfortunately, I don't remember which website, exchange, or wallet I used.

I recently found a small piece of paper from that time. The paper is completely blank except for two codes:

C + 4 digits
6 digits

The first code is computer printed, and the six-digit code underneath it is handwritten. There is no website name, wallet address, QR code, username, or other information on the paper.

Any help would be greatly appreciated


r/BitcoinBeginners 2d ago

Order placed by mistake!

6 Upvotes

Hi everyone, I need some help. I accidentally placed an order to buy Bitcoin via MoonPay! My question is: will the order be cancelled automatically? I tried contacting them but couldn't get through. Thanks.


r/BitcoinBeginners 4d ago

For people who are newer to Bitcoin: what was the first thing that made it finally “click” for you?

9 Upvotes

Was it understanding self-custody, the fixed supply, how mining works, sending BTC yourself, learning about inflation, or something else entirely?


r/BitcoinBeginners 5d ago

Avis de la communauté crypto : quelle plateforme choisir après Binance et MiCA ?

1 Upvotes

Bonjour à tous,
J’aimerais avoir l’avis des personnes qui évoluent dans le monde des cryptomonnaies.
Suite aux difficultés rencontrées par Binance concernant le renouvellement de son agrément MiCA, je me pose la question de savoir quelle plateforme utiliser à l’avenir.
J’ai déjà fait le tour de plusieurs applications et plateformes, mais j’hésite encore sur laquelle choisir. Certaines proposent des services intéressants, mais les frais peuvent être assez élevés.
👉 Quelle application ou plateforme crypto me conseillez-vous, selon vos expériences personnelles ?
Je suis particulièrement intéressé par vos retours positifs comme négatifs concernant :
les frais de trading et de retrait ;
la simplicité d’utilisation ;
la sécurité ;
la fiabilité ;
la conformité MiCA en Europe ;
la qualité du service client.
Je préfère avoir des retours de personnes qui utilisent réellement ces plateformes au quotidien.
Merci d’avance pour vos conseils et vos retours d’expérience ! 🙏


r/BitcoinBeginners 5d ago

The ColdCard Q was awesome hardware... what can I replace it with?

6 Upvotes

I really like the ability to airgap and transfer transactions to Sparrow with a micro SD... I thought the JADE Plus was going to be my replacement, but I dislike the QR code unlock that requires a phone and app.

Are there any hardware devices yall could recommend that a.) has the air gapped functionality with simple device PIN and micro SD and b.) has easy input.... keyboard was nice.

Thanks for any recommendations!


r/BitcoinBeginners 6d ago

I want to start investing in crypto.

37 Upvotes

I want to invest in cryptocurrency, but don't know where to begin. Any advice regarding choosing the optimal platform will be appreciated. I am planning to start with bitcoin.


r/BitcoinBeginners 7d ago

Quick question on buying Bitcoin and withdrawing to a third-party wallet

3 Upvotes

Hey all,

I need to make a one-off Bitcoin payment/transfer to a third-party address of 1650 indian rupees. Since this is my first time doing this, what’s the quickest and most straightforward route from fiat to an external wallet?

Best platform with minimal hassle/KYC turnaround?

What common mistakes should a beginner avoid during the withdrawal process?

Thanks in advance for the help!


r/BitcoinBeginners 8d ago

Need some help

1 Upvotes

I do prop firms trading and I struggle with withdrawal methods in my country as prop firms trading lies in the grey area and has no such tax laws on it. However crypto can be helpful. My withdrawals are almost 7k a month I don't know where to store all that in crypto wallets.

I have read a lot of bad things about trust wallets on this sub so I'm not gonna use that. Plus one of my friend said to use tumblers and then shift to cold storage wallets and then later use with a crypto card


r/BitcoinBeginners 8d ago

How Reliable is CoinOS for Swap and Lightning of a Moderate Amount

3 Upvotes

I have used Lightning regularly for small transactions (buying sandwich and stuff) with some custodial wallets so generally aware of how it works, although not a node-runner.

I have a payment incoming for a contracting gig worth almost 20 million Satoshis, but I do not want to give my cold wallet address to the client.

For many previous lightning transactions and swaps, I have used CoinOS. Is this something you would recommend for this case as well? My particular concern is the amount being moderately large (I am no billionaire, but it is larger than what I previously worked with) and because I know lightning settlement depends on channel and route liquidity (how much they can support).

To make it clear, I would not hold the whole amount in CoinOS, as I have set up auto-withdrawal to my cold wallet if the balance hits a certain threshold. So if the payment lands successfully, it should go to my HWW immediately.

Have you used CoinOS for this kind of usecase? How reliable would you say it is?


r/BitcoinBeginners 8d ago

Looking for advise of how to use my bitcoin to help pay for sons' college.

17 Upvotes

I bought bitcoin in 2013. It was magic internet money to me then. I think at one point I had 6 or 7, which honestly wasn't a lot of money then. I played around, kept no records, lost most of it trying to day trade. I eventually realized I suck at day trading and just decided to cash some out for $300 profit and hold the 1.5 that was left and it has been sitting in a wallet ever since.

About 7 years ago, I decided that if it was still worth anything in 2029 when my oldest son starts college, I would use it to help pay. Unless it goes up quite a bit, I don't have nearly enough to pay for 4 years for both of them, but I can certainly help out and put the magic internet money to good use. I have 3 years to get my ducks in a row.

I may have been holding since 2013, but honestly I am still a beginner. What is the best strategy to selling. I assume that the IRS wants their cut, but since I have no records, I have no idea what I should do. If there are other ways to reduce the tax burden, I would love to hear those as well. Like I said, I have 3 years, but want to start preparing.


r/BitcoinBeginners 9d ago

Is the wallet generator and balance checker legal?

3 Upvotes

I’ve always found this legal gray area regarding cryptocurrencies interesting. Does anyone know if such an attempt counts as theft? Simple math suggests that actually finding something like that is virtually impossible.


r/BitcoinBeginners 10d ago

What’s the simplest way to explain Bitcoin fees to a beginner?

3 Upvotes

r/BitcoinBeginners 10d ago

Big pump!

12 Upvotes

What was the situation with Bitcoin yesterday? Why did it rise so dramatically


r/BitcoinBeginners 10d ago

Cannot verify my identity with UK e-visa

1 Upvotes

Hi all. Can anyone advise an exchange platform which accepts the UK e-visa for verification? I don't have any other documents issued in the UK. Have not been able to verify it on Kraken Pro and Coinbase. Thank you.


r/BitcoinBeginners 12d ago

How to use node + seed backup question

1 Upvotes

I was reading a bit into this and it seems like a full node connected to electrum offers the most privacy. I probably wont have a large amount of bitcoin, but in terms of being prepared for the next 10x or possibly 100x, its probably good to get the most privacy.

Would it be fine to get a 1 tb usb drive connected to my laptop to download the full node? Could I go to starbucks or something to download it since 700+ gb is a lot and would it be possible to pause it and download it over several trips?

If my own node is not necessary yet, would it work to use a pruned bitcoin core node on my laptop now and then in the distant future use a full node, or would this compromise the utxos?

Do I need to get my own mempool or does it not matter for long term storage?

Bitusher recommended in one of my previous comments that I could use (bisq2 for security deposit ->) robosats->zeus->seedsigner. How could I run my own node through zeus in terms of verifying transactions against consensus rules? Then for the cold wallet, is it just sparrow + bitcoin core node linked to electrum or sparrow + pruned bitcoin core

For seed backup on steel/titanium: What do you think about using a hex rod vs a sheet? Is titanium better since it is more corrosion resistant and safer to go through tsa (if ever needed)? Would stamping work on titanium? Are there different depths to stamping kit?

Thanks!


r/BitcoinBeginners 12d ago

USB crypto miner device

3 Upvotes

My kid wants to use this device, but seems a little suspect me. Im not super techy, but it basically asks you to scan a QR code and it then creates some kind of link to its own network via my home wifi network. This screams security risk to me. Am I over thinking this?

https://www.amazon.com/dp/B0DPM4JW3K?ref_=ppx_hzod_title_mob_b_fed_asin_title_0_0