Hi everyone, I'm pretty new to cryptocurrency in general, and I'm trying to figure out the best way to buy and store it.
I’ve heard a lot about Bitcoin, but I’m a bit confused about how to get started. What’s the safest way to purchase Bitcoin?
Are there specific wallets I should be using? Should I keep my Bitcoin in an exchange wallet, or is it better to use something like a hardware wallet?
Do not store your wallet on an exchange wallet, since that is not your wallet. That is the exchange's wallet, that they let you use, but have complete control over. So if something goes wrong like a hack or the exchange decides to freeze your account for whatever reason, then you will not be able to do anything to get your money back except hope they give it back to you.
A lot of people will say hardware wallets are the best option. But the best software wallet for Bitcoin, in my personal opinion, is Electrum. When deciding on a wallet what you want is open source and non custodial. Meaning the community can read and vet the code for the wallet as well as no one other than you has control over it.