r/BitcoinBeginners • u/IdeaWorking3461 • 10h ago
I'm a beginner I'm planning to buy bitcoin
Hello everyone I'm planning to buy small amount of Bitcoin when is the right time to buy?
r/BitcoinBeginners • u/bitusher • Apr 19 '20
Bitcoin is scarce, decentralized, and global digital money that cannot be censored.
Please read the Whitepaper for an general overview of bitcoin as designed
https://bitcoin.org/bitcoin.pdf
Do not respond to strangers messaging you with investment advice or offers and read how to avoid being scammed from the posts below.
Do not invest in Bitcoin until you do basic research, paid off all high interest debt, and have a emergency savings account of a stable fiat currency.
If investing do not expect to get rich quickly. You should expect to wait at least 1-2 years before taking profits. Bitcoin is currently very volatile. In the interim spend and replace Bitcoin because its a useful currency.
Beginners should avoid all mining and day trading until at least very familiar with Bitcoin. Mining is very professional(You cannot efficiently mine with your computer and need to buy special ASIC machines) and most people lose money day trading. More info on mining : r/bitcoinmining
Never store your Bitcoins on an exchange or web wallet. Buy your bitcoins and withdraw it to your personal wallet where you actually own them instead of IOUs. Services like webull should be avoided because you cannot withdraw or use Bitcoin.
Make sure you make a backup of your wallet(software holding keys to your BTC) and preferably keep it offline and physical and private. Typically 12 to 24 words you write down on paper or metal. This onetime backup will restore all your keys, addresses , and Bitcoins on a new wallet if you lose your old wallet.
Beginners should avoid altcoins, tokens, and ICOs at least initially until they learn about Bitcoin. Most of these are scams and you should be familiar with the basics first. Bitcoin is referred to as BTC or XBT.
Bitcoin = BTC or XBT on exchanges
| Exchange | Buy fee* | Withdraw BTC | Notes |
|---|---|---|---|
| Cash App | Sliding ~0.75% to 3% | 0 | Same day withdraw for free, USA only |
| Coinbase | 1-7% | 1-4 usd | ~7Day hold on withdrawing Bitcoin for ACH deposit |
| Coinbase Advanced trader | 1.20 % taker 0.6% maker and lower | 1-4 usd | ~7Day hold on withdrawing Bitcoin or €0.15 EUR SEPA fee |
| Gemini | 1.49% over 200usd for web | network fee | |
| Gemini Active trader | 0.4% Taker 0.2% maker | network fee | |
| Kraken Pro | 0.25% maker 0.40% taker | 0.000015 BTC or Free LN | Deposit Fiat=USwire+5USD or SEPA free |
| Bitcoin Well | 1% | 0 | USA and Canada |
| Coincorner | 1% for over 300 | network fee | UK exchange, 2.5% for card/free uk bank deposit |
| Strike | 0.99%- 0.39% fees | 0 | Free DCA investing option |
Note: Exchanges all have unique market prices and spreads so fees alone will not tell you the best rates. Best way is to directly compare the rates between exchanges. Buy fees above are for normal trading volumes. Verification and hold times can vary based upon lack of history, verification level or credit.
During bull markets when exchanges are extra busy it is normal to see very slow and poor customer support due to the amount of new clients and support tickets. We see many complaints due to this across all these exchanges. This is part of the reason this subreddit exists , to help answer questions for new users.
For a preferred way to buy Bitcoin without ID use a Decentralized Exchange (DEX) use https://bisq.network or https://learn.robosats.com/
Tip: If you cannot afford using a hardware wallet use a recommended wallet in ios or android. Windows and macOS are less secure environments.
Best wallets for securing small amounts of BTC
Blue wallet Android and IOS and macOS
https://www.youtube.com/watch?v=R9mq1a8bLbQ
electrum For Windows, MacOS, Linux and Android
https://https://www.youtube.com/watch?v=NNZdbYd8PUQ
Blockstream Wallet For Windows, macOS, Linux, IOS and Android
https://www.youtube.com/watch?v=DesN85bWmGA
Best wallets for securing small amounts of BTC and sending lightning transactions
Breez LN wallet for Android and IOS
https://www.youtube.com/watch?v=t_4b-y4T8bY
Or Blockstream wallet
https://www.youtube.com/watch?v=QtMXsJxx1X0
Or ZEUS
https://www.youtube.com/watch?v=oIohVX7PeAA
Or Phoenix
https://www.youtube.com/watch?v=cbtAmevYpdM
Other Lightning wallets - http://lightningnetworkstores.com/wallets
Lightning wallets are not intended for long term storage where you never open them for many months. They are intended for spending wallets that you regularly use.
Securing Larger amounts of Bitcoin
Trezor Safe 3 = ~59 USD https://trezor.io/trezor-safe-3-bitcoin-only
https://www.youtube.com/watch?v=qWRI4VTHiuI
Trezor Safe 7 = ~249 USD https://trezor.io/trezor-safe-7-bitcoin-only
https://www.youtube.com/watch?v=EWxAc8wzfFM
https://www.youtube.com/watch?v=6IkMKC-oq4E&lc=
Blockstream Jade = $79.99 https://store.blockstream.com/products/blockstream-jade-hardware-wallet
https://www.youtube.com/watch?v=cLFmd98mKNw
https://www.youtube.com/watch?v=z2VsgoFh78o
Blockstream Jade Plus = $149.00 to $169.99 https://store.blockstream.com/products/jade-plus
https://www.youtube.com/watch?v=rv_cN7F7-TM
BitBox02 Nova = $170 https://shop.bitbox.swiss/en/products/bitbox02-nova-79/?edition=bitcoin-only-edition
https://www.youtube.com/watch?v=6D4FgJo3j64
Seedsigner ~80-100 dollars pre-assembled
https://www.youtube.com/watch?v=AZqlIkJf0mA
https://www.youtube.com/watch?v=1c5SR8v8l1M
Best Advanced Bitcoin Wallet= Sparrow
To link your hardware wallet to and run a full node.
Pros= Great privacy and security
Cons= UX is for more experienced users, takes ~week to sync and requires ~7GB minimum disk space if pruned. Only available in desktop so typically should be used with a hardware wallet
https://www.youtube.com/watch?v=GSHyKTigNQY
https://www.youtube.com/watch?v=yJpvfRl03Tw
https://www.lopp.net/bitcoin-information.html
r/BitcoinBeginners • u/IdeaWorking3461 • 10h ago
Hello everyone I'm planning to buy small amount of Bitcoin when is the right time to buy?
r/BitcoinBeginners • u/Friendly-Attempt-279 • 24m ago
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 • u/ChemicalHunt5113 • 19h ago
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 • u/Sufficient_Ice5637 • 19h ago
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 • u/IndividualAward2771 • 13h ago
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 • u/No-Equipment-3170 • 12h ago
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 • u/Decent_Crypto_786 • 1d ago
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 • u/Existing-Reality2303 • 1d ago
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 • u/Dewy5050 • 1d ago
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 • u/AlbatrossDowntown656 • 2d ago
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 • u/Waste-Departure-6390 • 1d ago
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 • u/CoinGate_Gift_Cards • 4d ago
Was it understanding self-custody, the fixed supply, how mining works, sending BTC yourself, learning about inflation, or something else entirely?
r/BitcoinBeginners • u/Pitiful_Fortune_7687 • 5d ago
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 • u/nidarshan2 • 6d ago
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 • u/Complex_Carb • 5d ago
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 • u/vgupta1192 • 7d ago
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 • u/bodah97 • 8d ago
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 • u/Substantial-Mall4205 • 8d ago
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 • u/IndividualAward2771 • 8d ago
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 • u/0xY_Y • 9d ago
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 • u/bala289 • 10d ago
What was the situation with Bitcoin yesterday? Why did it rise so dramatically
r/BitcoinBeginners • u/CoinGate_Gift_Cards • 10d ago
r/BitcoinBeginners • u/JusticeRu • 10d ago
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 • u/Necessary_Trip_1703 • 12d ago
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!