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54311601 No.54311601 [Reply] [Original]

Hi I'm new to crypto. Can you guys tell me how to hold my own? Do I need a digital wallet or something? Links and other spoon feeding is appreciated.

Thanks.

>> No.54311671

You need to acquire through crypto through an exchange with a fiat onramp or through a person-to-person transaction first. Then you should hold that crypto in a personal digital wallet like Metamask or Exodus. Make sure to write down your keys and keep them in a safe place (NOT stored digitally), since they're your only backup for that wallet if you somehow lose the password for it.

>> No.54311726

>>54311671
So if I just want to buy some bitcoin. Do I need a wallet first and then I go to an exchange a buy it with fiat? What exchange do you guys use?

>> No.54311819

>>54311726
A lot of exchanges may be entering turmoil in the coming months due to regulations. Even major ones like Coinbase and Binance are getting heat. If I were you, I'd use one of those two, unless you're concerned with KYC laws, then maybe try Kucoin?
You can set it up either way, but I'd start with the personal wallet first. Download a wallet app, get it set up, learn what your wallet address is, that kind of thing. Then after that, set up an account on an exchange and buy with fiat (this might take a few days due to interacting with your bank account).
Then, to transfer to your personal wallet, you'd input your personal wallet address and send it. This is the part you should always doublecheck, is that your send address matches your wallet address.
Do a test transaction first, just so you understand what's going on. Even try multiple transactions just in case.
If it's a lot of money (more than 4 figs), consider buying a hardware wallet later on to add another layer of security.

>> No.54311830

>>54311726
>So if I just want to buy some bitcoin. Do I need a wallet first and then I go to an exchange a buy it with fiat?

Yes. If you're an amerimutt, you can usually link your debut card or bank account to crypto exchanges like Coinbase, Kraken or Binance US then buy whatever crypto you want once you deposit some fiat money on the exchange (keep in mind you will probably have to go through some KYC like providing some for of government issued ID to trade on some exchanges) Never keep any crypto on exchanges (Not your keys, not your crypto). I would use Exodus as a wallet; exodus acts as your own personal wallet for bitcoin, ethereum and other cryptos (make sure to right down your password and seed phrases/words that will help you recover your exodus wallet). If you want to have a physical crypto hardware wallet. Trezor and Ledger are popular brands people buy and use. If you're a real crypto noob, I'd watch intro to crypto videos by Coin Bureau on YouTube. Pretty good for anyone looking to get the basics and get an introduction to crypto as a whole.

>> No.54311847

>>54311726
>>54311819
Also good advice for you anon

>> No.54311851

>>54311671
This guy is giving you the right advice.

I'll give some more.

When the time comes, and everyone is talking about it DO NOT buy Bingus token.

>> No.54311868

>>54311830
Write down*

>> No.54311901

>>54311601
holy shit do not get in to cypto right now, don't dump cash into bitcoin or another shitcoin. They move so erratically that buy buying any crypto you are taking an asymmetrically negative risk. For the love of god just buy index funds when the market bottoms.

>> No.54311902

>>54311601
You can never go wrong buying bitcoin. Ethereum is good too if you aren't worried about the current US regulation FUD. Also don't buy shitcoins like doggie coins or whatever. That's a road that leaves to despair, agony and depression

>> No.54311906

>>54311601
Just get a Ledger usb wallet. They have their own exchange and KYC

>> No.54311957

>>54311601
If you're going to be keeping alot of money in crypto it's probably best you buy a storage such as a Nano ledger or Trezor.
If not
Mrtamask will do you fine.
You'll have to write down your private key
Which is 12 words unique to your account and needed to recover it if you lose/break our device or forget the password for your Metamask.

>> No.54312017

>>54311601
If you need help buying, seeing as your new it's probably best if you go wit am exchange.
Coinbase,Kraken and Binance are good picks especially for beginners, the fees are high on Coinbase but it is quite a good exchange and intuitive.
You can buy straight from your card and sen it straight to your wallet of choice for safe keeping.

Sending coins requires you to pay a fee to the network you are using, this fee will change dependent on the network you're using. Remember to keep some spare crypto to pay those fees.

If that sounds confusing.
Imagine you Buy 1 ETH and send it from exchange to your wallet, you will pay a little bit of that ETH to pay the network operators to complete your transaction (this is called a gas fee).
This coins for sending back to the exchange

>> No.54312068

I wanted to mention that Metamask is a wallet for Ethereum and Ethereum-affiliated tokens, you can't store Bitcoin on it. Electrum is a software wallet for Bitcoin, and Trezor is a hardware wallet

>> No.54312211
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54312211

Not spoon feeding you faggot, only if you buy my bags.

>> No.54312212

>>54311601
Get DOGE, you are set.