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?
Personally, I would suggest purchasing it from Binance where you can purchase BTC from other people through a secured p2p transaction. Just make sure to read and watch beginner guides on Youtube or google to learn the basics of such.
If you live in a country that endorses a local exchange, I would also recommend this method for ease of use and convenience from moving your coins from one platform to another. Be reminded that purchasing BTC may require you to submit your respective KYC (know-your-customer) documents for verification and identification.
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?
As a general rule, you should never store your BTCs or cryptocurrencies inside an exchange due to the risk of that platform being hacked. Even reputable and established exchanges (e.g. Binance, etc.) have been hacked in the past which is the reason on why almost everyone recommends purchasing a hardware wallet.