Row 27646

Row ID: 27646 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 27646 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

>When should I but btc?

Only you can answer this question. We don't know your circumstances.

>Is anyone planning on buying some soon?

Most of this sub does. Pretty often.

>I’m pretty new to this.

We all have been where you're, read my guide and make sure to learn along you go.

Congrats on the move, it's never too late. ONLY INVEST MONEY YOU CAN AFFORD TO LOSE.

Invest in your knowledge, learn about Bitcoin as much as you can. The Bitcoin Standard book is a must read. So is Broken Money book.

Also, **don't reply any DMs**, emails, private messages on other social media, promising to buy Bitcoin from them or get rich quick and read this short guide, please:

**Price wise, nobody knows what the price will be tomorrow, next week or at the end of the year.**

**Try "Bitcoin ONLY" strategy for at least the first 210,000 block cycle**, you'll sleep much better. Newcomers lose so much money, holding garbage tokens just because someone on YT told them to. If you don't like losing money in [failed coins](https://www.coingecko.com/research/publications/how-many-cryptocurrencies-failed), avoid.

Going DCA is probably the best approach, IMHO. Bitcoin to me, is a savings account. If I have some spare cash, I exchange it for sats. Once a week works best for me, but I'm getting paid weekly. If there's a 10% drop in the price since my last buy, I usually double my buy. This [DCA calculator](https://dca.bitnob.com/) might help to decide what will work best for you. In a few years, even $10 dollars a month can make a massive difference. This [DCA blog](https://er-bybitcoin.com/) is pretty interesting.

Now, don't buy a fake Bitcoin at a spot ETF place or similar, **get the real thing** that you can withdraw anytime you want. Register at a proper exchange and buy real Bitcoin. Any of these will do [https://bitcoin-only.com/get-bitcoin](https://bitcoin-only.com/get-bitcoin)

Install (or buy - in case you're getting Bitcoin in Thousands of $) one or more of these wallets.

A few good wallet choices:

[https://blockstream.com/green/](https://blockstream.com/green/) \- Top Security Features, Open Source and Non-Custodial

[https://bluewallet.io](https://bluewallet.io/) \- excellent, easy to use wallet, Open Source and Non-Custodial

[https://www.sparrowwallet.com](https://www.sparrowwallet.com) - top desktop wallet

[https://electrum.org](https://electrum.org/) \- Solid choice, Open Source and Non-Custodial, one of the oldest and most trusted Bitcoin Wallets. I prefer the desktop version but it works on mobile too.

Lightning wallets to consider (cheaper and faster transactions, great for small amounts):

[https://phoenix.acinq.co/](https://phoenix.acinq.co/) \- Phoenix - very good wallet, uses Tor for extra privacy, easy for anyone new

[https://blixtwallet.github.io/](https://blixtwallet.github.io/) \- Blixt - great UI, fast and clean

[https://breez.technology](https://breez.technology/) \- Breez - excellent POS for small business owners as well as integrated Bitrefill or LN Pizza

Hardware Wallets (to store larger amounts):

[Trezor](https://trezor.io/) \- Easy to use, no matter how new in Bitcoin you're. Use the Bitcoin only firmware as it's safer than a multi coin software.

[ColdCard](https://coldcardwallet.com/) - air gapped, Bitcoin only, less new user friendly but there are great tutorials to help with setting it up.

[BitBox02](https://bitbox.swiss/bitbox02/bitcoin-only/) - another great little device, opt for the more secure Bitcoin ONLY version (less coins = less code = less chance for a hidden bug or a backdoor)

[Jade](https://blockstream.com/jade) - air gapped, fully open source, Bitcoin only, great features. You can even [build it on your own](https://github.com/Blockstream/jade/), if you feel adventurous.

[Seedsigner](https://github.com/SeedSigner/seedsigner) - another DIY, fully open source, air gapped, Bitcoin only hardware wallet, not for you if you're just starting up but something to consider later.

[Krux wallet](https://selfcustody.github.io/krux/) - one more DIY hardware device. Similar to Seedsigner, it's fully open source, air gapped, Bitcoin only hardware wallet, that is not for you right now if you're just starting up, but something to consider at a later stage and up your security up.

There's also Ledger, but I wouldn't recommend it as it's not fully open source, keep and already leaked customers' details, recently said they're capable of sending customers' keys out just with a firmware update, etc. **Stay away**, save yourself a headache in the future.

Whatever wallet you'll decide to buy, purchase DIRECTLY from the manufacturer, no eBay, no Amazon.

Make sure the device is NOT preset, and you will generate your own seed words. Write them down on any piece of paper as well as the receiving address. Now wipe the wallet and generate a new wallet. If the seed words are different from the first set, you're safe to use it.

Find an option to set a passphrase and use it. This will boost the security to another level. Never store the seed words and passphrase together. Use a different medium if possible. If somebody finds both, they'll be able to steal your coin.

This little device will hold the keys to your money, that's the reason why you have to be a bit more careful. Also, no worries, if it breaks, you can replace it - as long as you keep your seed words and passphrase(s) safe.

Welcome to the rabbit hole and don't hesitate to ask if you have any questions anytime during your Bitcoin journey.

Also, [check the sidebar](https://www.reddit.com/r/Bitcoin/about) that's filled with lots of great info and if you have any questions, visit r/BitcoinBeginners and look for the answers.

FieldValue
text >When should I but btc? Only you can answer this question. We don't know your circumstances. >Is anyone planning on buying some soon? Most of this sub does. Pretty often. >I’m pretty new to this. We all have been where you're, read my guide and make sure to learn along you go. Congrats on the move, it's never too late. ONLY INVEST MONEY YOU CAN AFFORD TO LOSE. Invest in your knowledge, learn about Bitcoin as much as you can. The Bitcoin Standard book is a must read. So is Broken Mo…
label r/bitcoin
dataType comment
communityName r/Bitcoin
datetime 2024-05-21
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Raw Record

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Newcomers lose so much money, holding garbage tokens just because someone on YT told them to. If you don't like losing money in [failed coins](https://www.coingecko.com/research/publications/how-many-cryptocurrencies-failed), avoid. \n\nGoing DCA is probably the best approach, IMHO. \nBitcoin to me, is a savings account. If I have some spare cash, I exchange it for sats. Once a week works best for me, but I'm getting paid weekly. If there's a 10% drop in the price since my last buy, I usually double my buy. This [DCA calculator](https://dca.bitnob.com/) might help to decide what will work best for you. In a few years, even $10 dollars a month can make a massive difference. This [DCA blog](https://er-bybitcoin.com/) is pretty interesting. \n\nNow, don't buy a fake Bitcoin at a spot ETF place or similar, **get the real thing** that you can withdraw anytime you want. Register at a proper exchange and buy real Bitcoin. Any of these will do [https://bitcoin-only.com/get-bitcoin](https://bitcoin-only.com/get-bitcoin) \n\nInstall (or buy - in case you're getting Bitcoin in Thousands of $) one or more of these wallets.\n\nA few good wallet choices:\n\n[https://blockstream.com/green/](https://blockstream.com/green/) \\- Top Security Features, Open Source and Non-Custodial\n\n[https://bluewallet.io](https://bluewallet.io/) \\- excellent, easy to use wallet, Open Source and Non-Custodial \n\n[https://www.sparrowwallet.com](https://www.sparrowwallet.com) - top desktop wallet \n\n[https://electrum.org](https://electrum.org/) \\- Solid choice, Open Source and Non-Custodial, one of the oldest and most trusted Bitcoin Wallets. I prefer the desktop version but it works on mobile too.\n\nLightning wallets to consider (cheaper and faster transactions, great for small amounts):\n\n[https://phoenix.acinq.co/](https://phoenix.acinq.co/) \\- Phoenix - very good wallet, uses Tor for extra privacy, easy for anyone new \n\n[https://blixtwallet.github.io/](https://blixtwallet.github.io/) \\- Blixt - great UI, fast and clean \n\n[https://breez.technology](https://breez.technology/) \\- Breez - excellent POS for small business owners as well as integrated Bitrefill or LN Pizza\n\n\nHardware Wallets (to store larger amounts):\n\n[Trezor](https://trezor.io/) \\- Easy to use, no matter how new in Bitcoin you're. Use the Bitcoin only firmware as it's safer than a multi coin software. \n\n[ColdCard](https://coldcardwallet.com/) - air gapped, Bitcoin only, less new user friendly but there are great tutorials to help with setting it up.\n\n[BitBox02](https://bitbox.swiss/bitbox02/bitcoin-only/) - another great little device, opt for the more secure Bitcoin ONLY version (less coins = less code = less chance for a hidden bug or a backdoor) \n\n[Jade](https://blockstream.com/jade) - air gapped, fully open source, Bitcoin only, great features. You can even [build it on your own](https://github.com/Blockstream/jade/), if you feel adventurous. \n\n[Seedsigner](https://github.com/SeedSigner/seedsigner) - another DIY, fully open source, air gapped, Bitcoin only hardware wallet, not for you if you're just starting up but something to consider later.\n\n[Krux wallet](https://selfcustody.github.io/krux/) - one more DIY hardware device. Similar to Seedsigner, it's fully open source, air gapped, Bitcoin only hardware wallet, that is not for you right now if you're just starting up, but something to consider at a later stage and up your security up. \n\n\nThere's also Ledger, but I wouldn't recommend it as it's not fully open source, keep and already leaked customers' details, recently said they're capable of sending customers' keys out just with a firmware update, etc. **Stay away**, save yourself a headache in the future. \n\nWhatever wallet you'll decide to buy, purchase DIRECTLY from the manufacturer, no eBay, no Amazon. \n\nMake sure the device is NOT preset, and you will generate your own seed words. Write them down on any piece of paper as well as the receiving address. Now wipe the wallet and generate a new wallet. If the seed words are different from the first set, you're safe to use it. \n\nFind an option to set a passphrase and use it. This will boost the security to another level. Never store the seed words and passphrase together. Use a different medium if possible. If somebody finds both, they'll be able to steal your coin. \n\nThis little device will hold the keys to your money, that's the reason why you have to be a bit more careful. Also, no worries, if it breaks, you can replace it - as long as you keep your seed words and passphrase(s) safe.\n\nWelcome to the rabbit hole and don't hesitate to ask if you have any questions anytime during your Bitcoin journey.\n\nAlso, [check the sidebar](https://www.reddit.com/r/Bitcoin/about) that's filled with lots of great info and if you have any questions, visit r/BitcoinBeginners and look for the answers.",
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