Quote from: Obab on Today at 03:21:50 PM

Whether it's too late to buy Bitcoin depends entirely on your investment and your attitude towards risk. For some investors, it may be too late, but for others, it's a possibility and a long-term leap in value, God willing.

For anyone who either is a low coiner or a no coiner, then you are not sufficiently or adequately prepared for UP. The only way to prepare for up is to have some bitcoin and/or to have enough bitcoin. Sure there are some folks who do not have enough income to buy enough bitcoin to prepare for UP, and surely each of us can ONLY buy as many bitcoin as is in our discretionary income. So the punchline is that you better get started investing into bitcoin if you don't have any bitcoin or you don't have enough, which means that the ONLY ones who should not invest in bitcoin are those who already have enough bitcoin.

The question about being too late or not is dumb, because the ONLY question that should effect your decision of whether to get bitcoin or not is about whether you have enough bitcoin or not. If you do not then you have to get started getting bitcoin ASAP or just continue buying in the event that you already have some bitcoin but you still do not have enough.

It can take years, perhaps 4-10 years or longer for normies to stack enough bitcoin - and sure some folks are able to front-load their bitcoin investment, and that is good for them, as long as they act upon their ability to front load their bitcoin investment by getting some.

Quote from: justinlamode on Today at 05:14:18 PM

Quote from: JayJuanGee on Today at 02:37:34 PM

So learning about bitcoin wallets is not a prerequisite to getting started in bitcoin, even though learning about wallets is an important and powerful thing.. .At the same time, some people might be challenged in their abilities to learn about bitcoin wallets and to put their learning into practice without screwing up.

You are right Sir, I still remember when I started my journey in Bitcoin, everything was done in exchanges include storing the little Bitcoin I had then. I never knew the risk though because I felt the greatest task was protecting my login details to the exchange. It was after reading through things in this forum and also when my money increased I saw the need to adopt self custody. The news about hacks of exchanges were actually good motivation for seeking alternative means of protecting my Bitcoin. So then I started with Trustwallet and later learnt about the risk and the need to go for open source wallets. That was how I kept adapting and I can tell you that the entire thing was a learning process and the good thing is that I was already invested in Bitcoin while learning and this made me take the learning seriously because without financial commitment, you might not really have first hand experience.

Even if someone learn about the various wallets without starting with the least amount as investment, such knowledge is not considered effective. Start buying Bitcoin and the learn various ways of improving the process like choosing better storage systems and ways of buying to maximize the amount you can acquire.

For sure the more bitcoin that anyone starts to accumulate, then the more risks they face to keep that money with third party custodians (such as exchanges or any other wallets that are closed source, such as the trust wallet that you mentioned). We know not your keys, then not your coins, so the more that you accumulate, then the more motivation that you should have to figure out some ways to store your coins privately and also in a secure kind of a way.

This website lists various hardware and software wallets, including features on the wallets (without rating them)

https://thebitcoinhole.com/hardware-wallets

This website rates hardware wallets

https://www.athena-alpha.com/crypto-wallets/compare/#

This website checks open-source-ness of wallets and if the code is verified.

https://walletscrutiny.com/?platform=allPlatforms&page=0&query-string=

Of course, there is likely other places to look and learn about wallets and how to secure your bitcoin, including threads on this forum..

Quote from: MusaPk on Today at 05:42:04 PM

Quote from: JayJuanGee on Today at 02:37:34 PM

So learning about bitcoin wallets is not a prerequisite to getting started in bitcoin, even though learning about wallets is an important and powerful thing.. .At the same time, some people might be challenged in their abilities to learn about bitcoin wallets and to put their learning into practice without screwing up.

Bitcoin has lot much stuff to learn not just the wallet. See the "Development & Technical Discussion" section and one can find there is lot much to learn in bitcoin like ECDLP, secp256k1, digital signatures and more. If one is interested in learning the underlying technologies then he is welcome to do that along with investing in Bitcoin. Since it will be fun to see how your money is stored and secured on Bitcoin Blockchain.

Agree that there can be a lot of interesting things that people can learn about in relation to bitcoin, and some of them relate to technogology and there are a lot of other areas too, in order to become more and more familiar with bitcoin as we invest into it. Of course, people are busy with other things in life too, including their work, family, hobbies, and so they might not always have time to fit in learning more about bitcoin, which surely can help them feel more comfortable with it.

Quote from: rachael9385 on Today at 06:06:41 PM

Quote from: AprilioMP on Today at 09:47:37 AM

Quote from: Jewan420 on February 04, 2025, 11:51:04 AM

Quote from: AprilioMP on February 04, 2025, 09:11:26 AM

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You mentioned basic knowledge of investment. Having basic knowledge is one of the basic foundations to start investing. If you ignore this issue or try to ignore it, you may be putting your valuable assets at risk. It is important to have the ability to buy, how to store or choose a reliable wallet. Even knowing how to use your chosen wallet correctly is part of basic knowledge. If you make mistakes in acquiring basic knowledge, then you are leaving a shaky foundation for investment, the results of which will not be positive at all. Even acquiring deep knowledge after starting investment is important.

Knowledge about wallet security is better placed as the most important thing, even more than basic knowledge because knowledge about wallets is the foundation for long-term investment sustainability.
I think JayJuanGee's post can be read below on your answer to my post above.

What's there to learn when you don't even have any Bitcoin?

However, a beginner to Bitcoin investment doesn't need to have any wallet knowledge before starting to invest in Bitcoin either. The most important thing is buying Bitcoin ASAP when you have the money. And long term investment has nothing to do with wallet knowledge because, as an investor, you just need to make sure you are DCAing on a regular basis with a decent amount you can afford without caving at the end.

Quote

Placing expensive and valuable assets like Bitcoin must be serious because it is not the same as gambling which is easy to lose or get big money. Bitcoin investment is not just an investment but has a clear goal during the investment period.

If you are talking about a wallet, the only important thing you should do is keep your seed phrase in a safe place where it can be saved, even after 4 to 10 years it will still be there.

Just like the electrum wallet, you just need to create it and store your seed phrase in a good area inside your apartment (if it's safe for you). As a newbie to Bitcoin investment, you should know how to send Bitcoin because this is another thing you need to learn, but before learning this you must also buy Bitcoin first. Because after buying Bitcoin from any exchange of your choice, you can use it to practice how to send it from the exchange to your electrum wallet.

Actually, Bitcoin investment is not a gamble. That's why you must invest for the long term before you make profits, even though profits are not guaranteed. But by gambling, you might be lucky to win big or lose

If your apartment burns down, you are fucked if your primary and your back up is in the same place. Another thing, you are fucked if anyone untrustworthy sees your private keys, so surely we have to know not to save them in the cloud unless we have very strong confidence that our key information is some how encrypted or secured... there are quite a few folks who lost their bitcoin when they stored their private keys online or on their computer or in password managers... so people don't always know that they put their keys at risk and even if they erase the data on line, it still might be there.. depending on where they had stored it. Some people took fotos of their private keys which also potentially puts their private keys at risk, and they don't realize their mistakes, even someone seeing their private keys (or back up keys) could take a picture of them, and then wait 5 years before stealing the funds...

so sometimes we might think that it our storage of our keys is easier than ends up being the case.. and the level of vulnerability of the keys if they are identified to be keys...with the passage of time, there are more and more people who are motivated to find private keys (back up seed words) of others and to take their bitcoin even though 10 years ago, many folks had no clue about what a private key (backup seed words) even looked like. There are some potentially easy aspects, but there are also some challenges too that come from having no one to bail us out if we fuck up. There is no button to recover for "forgot password," and there might not be any tech support to call up if a person makes mistakes that involve matters in their complete control, for example setting up complicated pass phrases or other ways of complicating their passwords that they even forget how to do it themselves, and surely an heir might not be able to figure out the puzzle if the information was left for the heir to figure out...and you might not want the heir to have access to the information prior to your death or mental incapacitation...but then by then, you won't be able to help them to resolve identifying what the three pieces of the puzzle were and how they need to be put together in order to accomplish the recovery of the various passwords and/or backups and/or seed words.