Post
Topic
Board Beginners & Help
Merits 2 from 1 user
Re: Bitcoin for beginners: Five tips you should know as a beginner
by
mocacinno
on 30/11/2022, 07:47:09 UTC
⭐ Merited by Pmalek (2)
--snip--
I recommended online wallets for those just starting crypto currency. Cold wallets are  really expensive. An external storage source costs almost 300-350 dollars as of now.
I also mentioned that's if you actually read the post that overall cold wallets are better but " for a beginner it's advisable you start with online wallets, later on if you wish to diversify your assets you could purchase a cold wallet"

Now from your second reply I can see you're against the Altcoin idea. Yes it's a risk but isn't that all crypto is all about "sometimes you win, sometimes you lose".
You are right though, anyone venturing into Altcoins should start up with a small amount just incase.

If you're giving advice to newbies who hold a limited amount of BTC (i'm not going into ALT's right now), i'd advice an open source, peer reviewed, SPV HD desktop wallet over an online wallet any day of the week. We're still recovering from the previous "not your keys, not your coins" disaster (FTX?) so i wonder why anybody would still think it's a good idear to promote online wallets while there are perfectly fine free open source desktop wallets available.

Oh, and 300-350 dollars seems a bit steep... A trezor model one costs $70...