Hi everyone, I’m new to Bitcoin and decided starting fresh from 2025. I’ve made a promise to stack as much Bitcoin as I can throughout my life, but right now, I’m at zero. Thanks to this user [@siggy47] he paid my comment enough to post here and now I can comment and pay others too. Now I’m focused on learning the basics like private keys, wallets, and the Lightning Network. It’s a long journey ahead, but I’m excited. Grateful to be part of this community!
Please help me get the answers to some general questions before I start, so I don't end up in any problems. I took these questions from Reddit and Forums because I am still confused. I feel like you could help.
👉What are some common mistakes people make with private keys and how can I avoid them?
👉How do multisig wallets work, and should I consider using one?
👉What’s the easiest non kyc way to start buying Bitcoin securely?
👉What are the best Bitcoin wallets for beginners to start with? (For both PC and Smart phone)
👉Are hardware wallets worth the investment for someone just starting out?
👉How will I securely back up my wallet’s seed phrase?
👉What are the best beginner-friendly Lightning wallets?
👉Are there any risks specific to using the Lightning Network compared to on-chain transactions?
👉What are the most common Bitcoin scams, and how can I spot them?
👉How will I protect my Bitcoin holdings from being lost due to hardware failures or accidents?
👉Should I be worried about phishing attacks, and how can I protect myself?
👉How will I ensure that a Bitcoin transaction is legitimate before sending funds?
👉What are the best practices for generating and storing private keys securely?
👉Why is a hardware wallet considered more secure than a software wallet?
👉If someone loses their seed phrase, is there any feasible way to recover their Bitcoin?
👉How does the Lightning Network really works? and ensure privacy when making payments?
👉What are nodes? How can someone run their own Lightning node? Are there any special devices required?
👉How do I decide between a custodial and a non-custodial wallet?
👉How does the user experience differ between custodial and non-custodial Lightning wallets?
👉What wallet features should beginners prioritize when choosing their first Bitcoin wallet?
👉How do you explain Bitcoin's value proposition to someone completely new to it?
👉How does Bitcoin derive its value when it’s not backed by a government or physical asset?
I have asked a lot I have more. I just want to start with the basics. Really appreciate your help! 🙏
wow a lot of questions from the start, can you take it slower? And are quite mixed questions. You should categorize them a bit.
Here I will try to answer some of them and redirect you if is necessary to some material to read.
No. Simply no. Learn how to manage your own cold wallets.
No. LN is Bitcoin. Pure and simple.
Read more here:
HW to be more secure is a myth to sell you more toys. If you learn properly how to manage your wallets keys, you literally do not need any fancy HW.
Make multiple backups. And use the 3 levels stash method
No, is impossible. Forget it.
Read more here:
Use the 3 levels stash method and use multiple wallets, by stages, as I explained here:
Read here:
https://fee.org/articles/what-gave-bitcoin-its-value/
More questions and answers that maybe you will ask here:
As you can see I wrote several guides (over 60). I suggest you to read THEM ALL.
Darth, this was the post you were born to reply to.
Alk these many years in bitcoinlandia I saw so many times these same questions that in the end I decided to write all these guides as an answer and use them when is needed instead of repeating over and over the same answer.
Yet are many other questions to be asked, specific ones, but I am always watching and take notes, building the next guides.
How often do people start out by putting a list of questions together like this?
I'm more of a one-step-at-a-time guy.
To be honest, I was short on Sats, so I thought I should ask all of them in one go. This sub costs 75 sats for one post. But I will never repeat like this.
that's ok, is understandable, you spend your sats wisely.
Here are 100 sats for you next post.
Thanks a ton! Your help means a lot! 🙏 And your guides are too much helpful everything is covered nicely and I don't think I would need to ask questions anytime soon, but if I need help I will tell you here.
There's nothing wrong with doing the heavy lifting on the front-end.
Oh my god, thank you very much. I've already started looking into your guides. 🙏 I had hopes I will get what I need here. And I will try to categorize them from next time.
Coinos is a beginner friendly web wallet that supports on chain and lightning
@adam_coinos_io
@coinoswallet
Yes! I've attached Coinos wallet to my SN wallet for sending and receiving sats. It's really good for newbies like me. Thanks.
Each of the questions should probably be its own thread. Actually, if you read other posts you'll find answers to most of them, if not all of them.
Okay, I'll look into old posts.Thanks
i'd probably just download strike or cash app, buy a bitkey, Start9, and bitaxe, buy a little bit at a time (DCA) while listening to bitcoin podcasts on fountain, engaging with the community on SN and Nostr while reading a few bitcoin books like the price of tomorrow and bitcoin standard.
Its the best money on the planet earth.
Scarcity.
Shitcoins.
CoinOS.
Yes.
Thanks. You answered very simply, which is how I'm looking for.
Strike is a very easy and reliable lightning wallet
Will look into it. Thanks for your suggestion. 🙏
You're welcome and if you do decide you'd like to try Strike I can give a referral link to sign up with so you can purchase some Bitcoin fee free for your first few hundred bucks.
Sure. When I get started, I'll let you know. Thank you.
An easy method to backup your seed phrases and log ins for beginners is to keep them in a notebook that's in a safe place but also take pics of all your credentials and back those pics up to a USB drive. It's small, easy to keep on you at all times or lock up in a safe etc. easy to access even on an offline device and more durable than paper of course.
Thank u. I will keep this in mind.
If you're interested in a HWW's (HD-wallet's) technical side, read: #539202
Thank you🙏
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Thank u. I'll check this out 🙏