Topic: Bitcoin Beginner Question / PLEASE HELP (Read 339 times)

Hi

The most important thing i´d say is essential for a good bitcoin investment is to have enough capital and spread the risk throughout multiple bitcoins. Spreading the risk increases the outcome in the end, and lowers you risk at losing money.

Kind regards,
Arthur
https://www.xn--ln-yia.dk/

After taking a brief on the comments, you got the detailed information but being a newbie it is highly essential to understand to safeguard yourself when you are using these wallets, store the wallet keys securely and when you are making these transactions do not open them in open browsing centers. Be aware of threats. All the efforts you kept may lead to profits if mishandled in terms of security protocol. 

It is good to own the right wallet which can keep your btc secure. To create a bitcoin wallet first you have to choose the wallets like hardware wallet, paper wallet, online wallet and desktop wallet. So it is always good to store your coin in hardware wallets like ledger nano which is secure and through this you can run multiple apps.Also there is no risk of private keys exposed.

There is a good thread on Custodial vs. Non Custodial Wallets - "Not your keys, not your coin" Explained.

It is good to use hardware wallet where you hold control of your private keys. Later you can exchange cryptos on any Non-custodial exchanges and receive your funds in your wallet.

It's always advisable to use offline wallets which gives you control of your private key but Coinbase is also a good wallet if you decide to go for an online wallet.

Coinbase is a popular crypto exchange website, paxful supports lots of wallets but be very careful while using it, as it has been observed to have plenty of scammers

where you go to purchase bitcoin is mostly opinion based, some people don't "like" coinbase, some others like it. it is up to you to decide whether their services and ToS is something you could live with or not. for example in my opinion Coinbase is an excellent way for beginners to start using bitcoin because it simplifies a lot of things for them.
as for storage, as it was mentioned a wallet that you control the keys should be your choice. also look into cold storage: https://en.bitcoin.it/wiki/Cold_storage

Thank you EVERYONE for all your time & help - I really appreciate it ! I've read thru all of your suggestions & will actually go to each t see which is easiest & the least complicated.

I'll be back if I need more help, as this IS DEFINITELY THE PLACE TO GO ! I'm so glad I found all of you ! I sure hope I can get this done quickly & painlessly.

Thanks again !

There various suggestion has been given by other members, you might follow them. My personal suggestion is, use electrum or bitcoin core wallet for store your bitcoin. So you will have full control of your funds. And for buy bitcoin you might choose this forum and I think it will be best choice. You can make thread that board as suggested above or you might make post on your local board. But don't forget to use escrow if seller is not trusted enough. I think this would be best solution for beginner like you

Electrum wallet - Update safely and avoid phishing wallets?
Newbies - Read before using exchanges or investing
In case you decide to choose Electrum wallet, you should verify GPG signatures after installing your wallet as well as anytime you download newest version to update your wallet.
It is always the best to remember the address of Electrum site (or whatever site of wallets/ exchanges you use to store your huge funds). Each time when you want to check wallet versions or download newest version to upgrade, you must get it on official site, that you should manually type in browser address bar. BTW, using exchanges to store your crypto funds is always bad ideas, because most of exchanges or platforms don't give your seeds of your wallets. In case they give you seeds, it is still risky because there are at least you and those platforms have your seeds, and you have to trust them to protect your seeds and your funds. If those platforms do scam exits or there are abuse by their staffs (that you are unable to control) on customer data, your funds will be lost.

Bookmark is good, but there is still tampering risks on bookmark in case your computer already compromised.
In any case, verify GPG signatures will help you to know that the wallet version you download is a real Electrum wallet or fake one, and will help you to avoid fund losses.

As you can see, there are many warning threads on threats that target Electrum wallet.
⚠⚠️⚠~Beware on active phishing Electrum websites~⚠⚠️⚠ (Collection list updated)
Warning: There is an ongoing phishing attack against Electrum users
If you care about security for your funds, you should spend a few time to pratice those phishing quizzies.
[LEARN] Phishing Quizzes - Beginners & Experts

Next time, whenever you make a threat, you should name your thread (topic) title better. If you care about more help from others for the thread, you also should rename its title too. This board is for Beginners & help, so the current title is unnecessary. Additionally, no one knows what you want to ask if they simply look at the title.
Please read more guide on topic title
Topic title style guide
Make your topic title, posts more attractive

Blockchain is another web wallet but I don't recommend it to use.

If you want a wallet which is easy to handle you can install mycelium or electrum on the phone just go to play store and use those terms to find them.
Just make sure to save your seed phrase if you are planning to use the wallet in the future.


You can buy bitcoins here P2P you can find the section from here https://bitcointalk.org/index.php?board=53.0 (Already suggested above)

Make your own thread there and make sure to don't deal with low-rank accounts higher Sr.member above are more trusted than lower accounts. You should use Escrow you can find trusted escrow from this list https://bitcointalksearch.org/topic/list-bitcointalks-escrow-providers-ranking-blacklist-avoid-scam-276897

If you don't know what is escrow the short term it is "a middle man" and it's always used here on the forum to avoid scammers.

the site is https://www.blockchain.com/wallet, you can create a bitcoin wallet there
and check Currency exchange subforum to buy bitcoin from other members (risk involved)
each method has certain risks and advantages, some has been explained above
if you just want to do this once, why not try some bitcoin payment service

*** ATTN: AYIRANOREA ****
I just tried to send you a pm but you don't accept msgs from newbies. I was just trying to find out about your "uncomplicated" advice: where would I go to set up a "block chain wallet" & how do I buy Bitcoin from this forum ?
That sounds easy & just what I need for now. Thank you !!!

I just read Ayrianorea's post & am wondering how to buy Bitcoin through your forum ? I'm looking for as uncomplicated as possible.
A "block chain wallet", is there a specific place to go for that also ?

*** ATTN: AYRIANOREA OR OTHER EXPERTS THAT REPLIED TO ME ***

I just tried to PM Ayrianorea but doesn't allow msgs from newbies, can anyone help with those "uncomplicated" suggestions: where to go for a "block chain wallet" & how to purchase Bitcoin from this forum ??

I'd APPRECIATE ANY HELP with the above, thanks again !!!

THANK YOU EVERYONE SO MUCH !!!
I'm going to use all of your suggestions. All of you agree that getting an Electrum Wallet is best, so I'll use that.
Do all of you agree that Coinbase is where I should make the purchase ? Or do any of you recommend another site, maybe an easier, more simple one ?

I was also "advised" NOT to use Coinbase since I'm a 1st timer & only need to make a one time transaction. I was told Coinbase isn't a good place for a beginner or a one time user.
If any of you great people think I should another site besides Coinbase, please advise. I'm looking for the easiest, but safe (as you all noted) as well.
I'm obviously not looking to become an "expert" & if I decide to use Bitcoin more, down the road I'll be certain to come back here for your advice !

Again thank you ALL, so very much - all the reading, research & opinions I've received elsewhere has had my brain exploding. I SURE wish I came here 1st, all of you are very well versed & have made me MUCH LESS CONFUSED !

Dollygirl5531 needs to complete one BTC transaction, but some experts suggested incredibly difficult ways to do this, and they also recommended using a fraudulent Paxful exchange. I'm shocked. Will scammers ever stop mocking people?

Don't just complicate, create a blockchain wallet and go for a buying of bitcoin through our forum. This is the best choice, because you are not planned for long term usage as well the transaction amount is less than $50. Maybe once after making a transaction you'll get a better idea about the wallet and the possibilities of buying bitcoin through other ways.

Both experts are giving you accurate advice for your needs, and in accordance to their preferences.  I don't use Paxful, but I reckon it's decent place to buy crypto, but like BitMaxz said it can be risky.  

You're likely to get a better exchange rate from Coinbase, and much less risk.  They are highly reputed exchange, and the one I use most.

As for the "wallets," both Paxful and Coinbase offer what are called "web wallets."  The wallet is part of their web services, and although you can send from, and receive currency to web wallets, they do not give you access to the private keys on which your funds are stored.  For a one-time transaction this shouldn't be a concern.

Electrum is a "desk-top wallet" software that runs on your personal computer.  It's one of (if not the) most popular of all desk-top wallet applications because it's very safe, robust, and gives the user ultimate control of their funds and private keys.  If you are going to start using bitcoin on a regular basis it's worth taking the time to learn to use Electrum safely. 

There are many reasons why I don't recommend you to use Paxful even it is just a small amount.

Check these posts below:

- SCAM!!! PAXFUL.COM Horrible Scams Site!!
- Paxful scamming with fake fees
- Do not use PAXFUL it is a Scammer site.

And many posts here on the forum that there are many scammers on Paxful so I don't recommend it to use.

Coinbase is fine you can use that for a small amount.
What payment option you are planning to use to buy BTC? Debit/credit card or bank account? If you are planning to use this they require to verify your account first with ID and selfie before you can buy with card or bank account.

If you are buying in Coinbase that should be enough, you get a wallet there as well and can send funds from there directly to another bitcoin wallet. Same thing for other exchanges.

Make your own wallet if you plan to receive and send bitcoins in the future, for that Electrum is good, but you need to inform yourself first on Do's and don't s when handling your very own bitcoin wallet.

Your first expert has given you the best advice and its better to follow his guideline as a bitcoin beginner. Electrum is the most secure wallet and on the other hand you can use Coinbase as a trusted exchange. Both of them are best on their service which you will understand after starting to use them.

You can use below links to open your Electrum wallet and Coinbase account;

1. https://electrum.org
2. https://www.coinbase.com

I went the Paxful site & it states they provide a wallet, is their wallet different than Electrum 's wallet ? I'm only in need of $30-$40 in Bitcoin & am looking for the easiest way possible to do this one time transaction.

For a one time, single transaction - what do you suggest ? Thanks so much for your time & help !

Paxful is not a wallet its a P2P exchange and Coinbase is an exchange site.

I heard that Paxful is not safe to use there are many scammers out there. If you want to buy bitcoin you can buy directly to Coinbase.

Electrum is one of the recommended wallets because you have full control of your private keys, unlike Coinbase. If you want to store your Bitcoin safety choose Electrum wallet.
The right URL for Electrum wallet is this one https://electrum.org
Beware on fake electrum website make sure to use the URL above.

I was advised to download a wallet (Electrum), then to open an account with an "exchange" (Coinbase) but then another "expert" advised me to use Paxful for BOTH. He said I can purchase Bitcoin on Paxful AND use the wallet Paxful automatically provides. Can anyone confirm this for me please, thx !