investment advice? - page 3. | Bitcointalksearch.org

Cedie

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Quote from: BIT-BENDER on March 02, 2023, 02:59:40 PM

Take a break from investing for now because it’s most likely you would make the wrong choice, I don’t know how you learnt about Binance or trust wallet, I would guess because they are popular and you probably think it’s your best option.

I won’t be saving my bitcoin on Binance exchange nor any other exchanges because you won’t be in total control of your Bitcoin, what’s the essence of being in cryptocurrency when you don’t have total control.

Yeah. You have a point. I often ask myself why I feel like I'm a late bloomer when it comes to cryptocurrencies and I just realized it now that years ago, I didn't have enough knowledge where I can have full control over my assets. I think taking your time to learn and to invest to yourself is what's more important.

Pandu Geddon

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Quote from: Adams0001 on March 13, 2023, 05:53:13 AM

I believe that you should conduct research before making any investment, whether in Bitcoin or another cryptocurrency, to avoid losing your coins.

in relation to trust wallet and Binance There is no distinction between them; once you have done your research, you will know where to invest your Bitcoin.

OP has made the right choice by investing in Bitcoin. Trust wallets are widely used by people, but they are not safe from hacking. likewise, to put it on Binance, it's not a good solution for long term investment. when you put your Bitcoin on Binance, it's like you don't own Bitcoin. it becomes the ownership of Binance which is indeed your Bitcoin.

the best solution is to use a hardware wallet. I think there have been a lot of suggestions in this thread regarding hardware wallets. you can also read it.

Luzin

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Quote from: G_Besar on March 13, 2023, 07:09:10 AM

Trust wallet and Binance are two very different places mate, because Binance is an exchange, whereas trust wallet is a software wallet with some support inside. So don't equate the two in this regard because both are very different, both in terms of usage and fundamentally in the crypto space.

So far I understand that hard wallets are the most secure devices. Although I admit that all wallets actually have their own weaknesses. But saving in exchange does not become a recommendation. Indeed I keep some in exchange, it is only for trading activities.
The good thing is that if you finish trading store the asset in your personal wallet. Granted it will take time, but at least it will reduce the risk of assets being lost in the exchange.

G_Besar

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Quote from: Adams0001 on March 13, 2023, 05:53:13 AM

I believe that you should conduct research before making any investment, whether in Bitcoin or another cryptocurrency, to avoid losing your coins.

Avoiding losing coins is the same as avoiding losing money and that really needs to be examined before placing your coins or money somewhere and until now I am still more confident about placing coins or money in my personal wallet which I can fully manage without third parties such as exchanges.

Quote

in relation to trust wallet and Binance There is no distinction between them; once you have done your research, you will know where to invest your Bitcoin.

Trust wallet and Binance are two very different places mate, because Binance is an exchange, whereas trust wallet is a software wallet with some support inside. So don't equate the two in this regard because both are very different, both in terms of usage and fundamentally in the crypto space.

Nheer

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Quote from: acroman08 on March 03, 2023, 03:51:48 AM

might be better if you don't invest at the moment, it seems like you need to do more research on what you are trying to invest in. for example, as other members have mentioned, Trust Wallet or Binance? should be the last place where you keep your BTC, especially if you are going to hold.

It's true that you don't need to invest right away because it appears that you lack sufficient understanding about where to put your funds, and the worst thing you would want to happen is to lose your wealth or run the danger of being scammed. Go ahead and conduct extra research, some members have provided links to make it easier for you. All we can do is suggest which option is ideal for you, but ultimately, only you will know which is best.

Quote from: Mr.corol on March 02, 2023, 11:24:39 AM

Should I put it in Trust Wallet or Binance? Hoping for advice from everyone on where it should be placed? There will be no possibility of hacking.

Regarding trust wallet, it is not ideal to store your bitcoin there, its not secure and is easily a target for scammers. I would not advice you keep your asset there because my friend was once a victim of trust wallet scam.
Binance is an exchange where you can purchase your bitcoin just like every other exchange and should not dare store your bitcoin there because you don't have full control over your keys. Once you purchase your bitcoin don't waste any time to move your funds to a secure wallet. We have seen some exchange scam their customers and some are targeted by scammers.

Research more and make sure you have proper understanding before investing in Bitcoin.
You can check:
github.com/bitcoinbook
learnmeabitcoin

Cantsay

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Quote from: Adams0001 on March 13, 2023, 05:53:13 AM

in relation to trust wallet and Binance There is no distinction between them; once you have done your research, you will know where to invest your Bitcoin.

Sorry to say, but there is a distinction between Trust wallet and Binance. The former is a non-custodial wallet meaning you have control over the private key and if you should ever loss it or forget then that will be the end of that wallet, they have no support team that can help you recover your secret phrases because according secret phrases are not stored in the servers, Although Trust Wallet is a closed sourced wallet. While for the latter, it's an exchange not a wallet, and in addition you have no control over your coin in an exchange, the team could decide to lock your account and kick you out of their system and also just as in the case of FTX they could be an unexpected event that could lead to you losing all your investment.

If you have been treating Binance and the other exchanges as a wallet, it's high time you stopped and look for a reputable open source wallet and move your coins into your wallet. Btw remember; Not Your Key Not Your Coin.

Adams0001

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I believe that you should conduct research before making any investment, whether in Bitcoin or another cryptocurrency, to avoid losing your coins.

in relation to trust wallet and Binance There is no distinction between them; once you have done your research, you will know where to invest your Bitcoin.

jrrsparkles

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Quote from: Mr.corol on March 02, 2023, 11:24:39 AM

I am a new member of bitcoin forum. Investing in Bitcoin can either be profitable or a loss. I will invest in Bitcoin. I don't know where to invest. Should I put it in Trust Wallet or Binance? Hoping for advice from everyone on where it should be placed? There will be no possibility of hacking. please help and advice?

Just buy Bitcoin and don't lose your Bitcoins to any ponzi scams! Just buying and keeping it in the wallet is enough.

Binance isn't really a wallet, it's an exchange so it's never advisable to keep your assets there for holding purpose, trust wallet can be useful to store shitcoins but if you're looking for a wallet only for Bitcoin then use Electrum.

Which is light weight, open sourced, non custodial so you are holding your own coins but make sure you download the wallet from official website and don't forget to verify their signature before depositing your Bitcoin.

NicNacCoin

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Quote from: Mr.corol on March 02, 2023, 11:24:39 AM

I am a new member of bitcoin forum. Investing in Bitcoin can either be profitable or a loss. I will invest in Bitcoin. I don't know where to invest. Should I put it in Trust Wallet or Binance? Hoping for advice from everyone on where it should be placed? There will be no possibility of hacking. please help and advice?

Since you are a newbie I can't recommend you to store cryptocurrency in Binance Exchange wallet, if you know or heard about the bankruptcy of Centralized Exchange FTX like Binance then you never want to store your Cryptocurrency in Binance Exchange. The correct advice for you is that if you live in a country where Bitcoin is legal, it makes more sense for you to use a hardware wallet. Moreover, if you want, you can bring the hardware wallet from other countries by commercial shipment. You can use trust wallet to temporarily hold cryptocurrency but be careful to store 12 phase worlds very carefully. If these security systems are lost, your Trust wallet will be lost forever.

suzanne5223

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You can buy Bitcoin on Binance or if you have USDT you can buy Bitcoin anonymously on Crypton Exchange which is a no-KYC cryptocurrency trading with no daily limit or restriction worldwide.
Having said that, it's not advisable to keep your Bitcoin on Trust Wallet or Binance exchange no matter if the exchange is reputable. I will advise you to get a hardware wallet and try to improve yourself on how to use a crypto wallet securely.

Bitcoin_people

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Quote from: Mr.corol on March 02, 2023, 11:24:39 AM

I am a new member of bitcoin forum. Investing in Bitcoin can either be profitable or a loss. I will invest in Bitcoin. I don't know where to invest. Should I put it in Trust Wallet or Binance? Hoping for advice from everyone on where it should be placed? There will be no possibility of hacking. please help and advice?

If you are completely new to investing then I would suggest you to first understand the market. and learn about trending well-resourced. And then you start investing your little money. Keep increasing your money little by little. And you must invest in bitcoins and not waste your profits by investing in unnecessary coins. Or if you invest in unnecessary coins, there is a possibility of losing your money. But if you invest in Bitcoin you will be risk free and you won't have to fear losing money but you can make a profit by investing.

SosSpagetti

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Quote from: Hyphen(-) on March 05, 2023, 01:49:58 PM

Quote from: Mr.corol on March 02, 2023, 11:24:39 AM

I am a new member of bitcoin forum. Investing in Bitcoin can either be profitable or a loss. I will invest in Bitcoin. I don't know where to invest. Should I put it in Trust Wallet or Binance? Hoping for advice from everyone on where it should be placed? There will be no possibility of hacking. please help and advice?

First of all, I will advise you to do your own research before placing any investment in Bitcoin.
Try as much as you can to learn about those places you mentioned because the two of them are two different things; Furthermore, I will advise you to learn about the key and address Here to know the exact meaning of public keys and private keys, and you will also gain more guidance on how to keep your Bitcoin safe.

I totally agree with your opinion. I would always suggest to DYOR. You can go through this forum to search for investment knowledge. But I also suggest you search on Google, or if you are new to investing, read some related books to the topic.
Another good thing is the diversification of your money - don't forget about it.

Hyphen(-)

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Quote from: Mr.corol on March 02, 2023, 11:24:39 AM

I am a new member of bitcoin forum. Investing in Bitcoin can either be profitable or a loss. I will invest in Bitcoin. I don't know where to invest. Should I put it in Trust Wallet or Binance? Hoping for advice from everyone on where it should be placed? There will be no possibility of hacking. please help and advice?

First of all, I will advise you to do your own research before placing any investment in Bitcoin.
Try as much as you can to learn about those places you mentioned because the two of them are two different things; Furthermore, I will advise you to learn about the key and address Here to know the exact meaning of public keys and private keys, and you will also gain more guidance on how to keep your Bitcoin safe.

lizarder

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Quote from: Mr.corol on March 02, 2023, 11:24:39 AM

I am a new member of bitcoin forum. Investing in Bitcoin can either be profitable or a loss. I will invest in Bitcoin.

Don't invest when you don't understand bitcoin well, because it will be quite risky and you should study it first before making a decision to start, the volatile nature of bitcoin can put you in a state of panic at times and that's why you need to learn about it.

Quote from: Mr.corol on March 02, 2023, 11:24:39 AM

I don't know where to invest. Should I put it in Trust Wallet or Binance? Hoping for advice from everyone on where it should be placed? There will be no possibility of hacking. please help and advice?

Read the post made by theymos HERE, he has explained in great detail the decision to keep your bitcoins. While Trust Wallet and Binance are not so safe for you to store bitcoin.

I usually use Trust Wallet and Binance for short term trading, while Bluewallet dan Electrum are better suited for holding bitcoins long term.

alik111

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You can secure your Bitcoin by using Trust Wallet and I won't recommend to use Binance Exchange wallet. I think it's the right time to invest in. Because now every coins are very cheap to buy. So it's a great opportunity to invest.

kamvreto

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MAaaN...!! CUT THAT STUPID SHIT

Quote from: Cantsay on March 05, 2023, 09:29:48 AM

~snip~While for Binance, I won't even consider putting my coins there when I know I'm not using it for trading, no matter how small the coin may be once I'm done trading I withdraw all of them front the exchange ^{If it's up to the minimum withdrawal though} so keeping your coin there is out of the question. Or have you forgotten? Not Your Key Not Your Coin.

It's the right decision when you don't leave your coins on Binance or any other centralized Exchange. It would be very risky if we leave our coins in a third party Wallet that we have no control over. Learn from the FTX incident that cost everyone big money or some other Exchange hacking incident. As you do, I only deposit coins to Binance or other exchanges just to trade, when the trade is over from a certain time frame I will withdraw the coins back to my personal wallet which is safer and more controlled.

WillyAp

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In investment you should more control over the infested funds.
Difficult to achieve in Central Exchanges, Banks, Stock exchanges.

Investment in products has more value.

You need to elaborate a plan of action and make sure your funds are well invested.

Cantsay

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Quote from: Arenga pinnata on March 03, 2023, 10:15:58 PM

Quote from: Mr.corol on March 02, 2023, 11:24:39 AM

I am a new member of bitcoin forum. Investing in Bitcoin can either be profitable or a loss. I will invest in Bitcoin. I don't know where to invest. Should I put it in Trust Wallet or Binance? Hoping for advice from everyone on where it should be placed? There will be no possibility of hacking. please help and advice?

if you want to invest in the long term, for example once every 4 years you sell.
I suggest you keep it in a trust wallet if you don't have a hardware wallet yet.
but if you want to invest in the short term, for example every day or every week, saving on binance is also not a problem, because so far binance is very safe.
it all depends on your interests, want long term or short term.
adjust seja according to your ability and comfort.

If Op does not have enough funds to purchase a hardware wallet then he should go for a reputable open source wallet and we have Electrum as an example.
Not only is the wallet open sourced and secure but it also offers some functionality that you won't get from trust wallet for example with Electrum you can sign and verifying messages and you can even increase the security by opening a multisig wallet.

While for Binance, I won't even consider putting my coins there when I know I'm not using it for trading, no matter how small the coin may be once I'm done trading I withdraw all of them front the exchange ^{If it's up to the minimum withdrawal though} so keeping your coin there is out of the question. Or have you forgotten? Not Your Key Not Your Coin.

cydrix

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Quote from: Mr.corol on March 02, 2023, 11:24:39 AM

I am a new member of bitcoin forum. Investing in Bitcoin can either be profitable or a loss.

You already got the idea what to invest. You are right, investing might be a loss or a profit but that’s why we should be ready with the risk that will happen. Investing in Bitcoin is the best idea for me as a long time crypto user. Bitcoin has the highest potential above all coins.
Long term is a good plan.
Do your own research if you already picked where to store your bitcoins for the safety of your funds. Wishing you luck on your journey!!

Daniel91

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Quote from: Jawhead999 on March 05, 2023, 12:45:29 AM

Quote from: Arenga pinnata on March 03, 2023, 10:15:58 PM

if you want to invest in the long term, for example once every 4 years you sell.
I suggest you keep it in a trust wallet if you don't have a hardware wallet yet.
but if you want to invest in the short term, for example every day or every week, saving on binance is also not a problem, because so far binance is very safe.
it all depends on your interests, want long term or short term.
adjust seja according to your ability and comfort.

There are a lot choice of good wallets, so there's no need to use Trust wallet as your hot wallet. Electrum, Blue wallet, Samourai are the best option because they're non custodial, open source and easy for beginners to use it.

Invest in the short term for every day or every week? you should move your coins after a month to your non custodial wallet because Binance is only used to buy and sell your coin, not hold for long term.

Honestly, if someone wants to invest serious money in bitcoin and wait for the increase in value to sell at a profit, then, in my opinion, it is best to keep those bitcoins in a ledger, an external device that is not connected to the Internet.
If you are investing on the principle that you will invest money and after that you will not do anything with that bitcoin but just wait until the bitcoin reaches the desired price, then ledger is a much better choice in terms of online security than any online wallet.
If you will be buying or selling your cryptocurrencies frequently then I suggest Electrum as an online wallet.
Just as you study online wallets, you should also study cryptocurrencies themselves, and make investment decisions based on concrete facts and analysis, not based on what you hear in the media or read on the Internet.
It's important to have a concrete investment plan and a clear exit strategy.

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