Is it good idea to help friends/family take sats off exchanges with a self-custodial hot wallet like Bluewallet before they get a hardware device?
I personally think it’s far better than holding paper bitcoin. Just need to be careful and make sure they aren’t completely retarded about their phone security and whatnot, and make it clear that this is a stepping stone to cold storage as opposed to a long-term solution
I'm almost there with my sister.. at least she converted all her shitcoins to btc.. now is the moving part I'm working on lol..
Oh man my sister probably still has shitcoins too. Last I heard she had a bunch of MANA (decentraland stuff?) and was down bad. This was long before FTX 😳
It’s so frustrating “orange pilling” close ones. You’ll be like bitcoin only, never sell, learn as much as you can, take it all off the exchange!! And they go ahead and shitcoin, don’t learn shit, leave it all on exchanges. Luckily none of mine haven’t sold (or haven’t admitted to it at least)
Why not Muun? Seems to be easy and you hold the keys! It’s submarine swap and on chain! 🐶🐾🫡
I prefer bluewallet. Muun is cool for certain uses but its recovery system is weird af and tbh i am not sure i’d even do it right if i had to. Seed phrases are simple and with BW you can create your own entropy. I also fear Muun disincentivizes learning about how Bitcoin works bc it’s so easy with both “lightning” and on-chain but under the hood it’s much more complicated than normal (with no UTXO control)
Good point. If the purpose is to learn then BlueWallet is a really good option. 🐶🐾🫡
I love Muun and it’s ease of use…
definitely better than paper bitcoin, but also worse than cold storage. I 2nd #[2] in thinking of muun as a solid option
Maybe if they have an older phone laying around, they can even make a cold storage easily with BlueWallet!
How about that?
Here is a video how to make it happen:
Hell yeah
12 words > paper bitcoin
The problem I’ve run into is they want BTC from sats and getting them off lightening back to layer 1 is such a bitch I won’t lie. I haven’t found the proper solution for this as I’m new to lightening L2. Sure sat buying is cheaper but wondering if it’s better to DCA on BTC once a month as opposed sat stacking just for convenience later on with the newbie conversion problems.
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