So, what is everyone’s choice for a #bitcoin wallet?
Let me rephrase that, which is the most trusted wallet? I’m trying to get on board with this whole bitcoin thing and I fear if I chose the wrong wallet and something happened to my funds, that would be that and I would probably turn my back on it for good.
I’m an old dog but I believe I can still learn some new tricks and bitcoin as at the front of the line.
Thank you very much. #BTC
Hi Kevin,
Self custody of your Bitcoin is a marathon not a sprint. There is a lot to learn. The first step is to get off the exchange and into cold storage. Trezor is a good, user friendly, first step. Buy direct from Trezor.io do not buy from a reseller, do not buy 2nd hand.
If possible, I’d recommend connecting with a trusted friend who’s got more experience in this space or, your local Bitcoin community and asking some of those that have been around for a while for some guidance.
If that is not an option, that first step into Trezor is totally manageable on your own. Just remember to do a small ‘test’ transfer into your cold storage wallet before transferring the bulk of your BTC. When you do both your transfers it is a great idea to copy and past your transaction id (provided by your exchange once they start the process of your transfer) and copy it into mempool.io and watching your transaction as it is processed in real time and recorded into the Bitcoin blockchain.
There are a few of we old dogs, learning lots of new tricks in this space. Stick with it, it gets easier and more 2nd nature each time.
Hope this helps.
Right on, I appreciate the info. Bookmarked for reference. 🤜🏻🤛🏻
I saw a post that resonated with me… you don’t need a fancy wallet, just a means of safely and securely storing 24 words, a fancy USB device is unnecessary.
As someone doxxed by Ledger and with a broken Coldcard in the drawer it was certainly food for thought.
Ok, so the wallet isn’t as important as my cold storage? Another user told me to set one of those up. He recommended one but it had low ratings on the AppStore.
I honestly wish I knew people that were into this, but to be honest, I have only recently come around to embracing it myself. I am on a fixed budget, so I am hoping I can use this as a form of investment for the future.
Hopefully, once I get it sorted, someone can send me a couple sats, just so I understand the process. I won’t be able to add anything until the third, so that gives me time to learn as much as I can. Admittedly, this is a bit steeper of a learning curve than I originally anticipated.
The funny thing, one of my last electrical jobs was setting up a mining farm. I understood the power aspect of it and how much a miner uses (a LOT), but didn’t know a damn thing about what the hardware did that I was hooking up. 🤦🏻♂️🤷🏻♂️😂
Thank you for your response.
Oh wow, the mining side is a whole another level!
I forgot which user said about no wallet at all but I have a steel plate to handle the storage now. I still have and use a Coldcard along with Sparrow on the computer, it seems a fairly solid choice from what I heard from podcasts etc. but I must admit, the build quality of these devices bothers me.
The hardware wallet is really just a signing device to authorise transactions. The key thing really is protecting the seed phrase above all else.
So, the steel plate is an actual, physical object? I thought it was like a figure of speech, LMAO.
Someone needs to make a Nostr compendium for noobs, lol.
At the very least, a quick use dictionary for crypto nomenclature. 😅
