investment advice? - page 5. | Bitcointalksearch.org

G_Besar

hero member

Activity: 1120

Merit: 504

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 a new person in this forum and are also just trying to invest in Bitcoin with the expectation of profit and security in putting Bitcoin in the wallet. You can use a hardware wallet if you have the extra money to buy it, but if you prefer a free wallet that is secure and doesn't have to spend extra money to create one.

You can use an Electrum, Bluewallet, or trustwallet wallet if you are familiar with these wallets. Because all those wallets are much better as an option for you to use than you put them on the exchange even though the exchange is Binance. Here's a little advice from me to you, I hope you get enlightened on this and have fun investing in Bitcoin.

acroman08

legendary

Activity: 2520

Merit: 1113

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.

dzungmobile

sr. member

Activity: 854

Merit: 424

I stand with Ukraine!

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

I will invest in Bitcoin. I don't know where to invest.

It is not a question. Invest in Bitcoin. No where to invest. If you ask what coin to invest in, it is Bitcoin, you wrote it.

Quote

Should I put it in Trust Wallet or Binance?

Your question is where to store your bitcoins, not where to invest.

As they mantra in Bitcoin, it is not your keys, it is not your coins.

Binance is a centralized exchange and they did not give customers including you, keys of your bitcoin.

Trust wallet is self custody, you have keys but fhe wallet is close source, not open source.

What wallets are better?
Four main criteria: open source, self custody, support Tor, support Segwit and Lightning Network

Electrum, Bitcoin Core, Sparrow and hardware wallet like Trezor, Ledger.

Saisher

full member

Activity: 2324

Merit: 175

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?

Obviously, you do not know the difference between a custodial and noncustodial wallet and what is the safest between the two, I don't recommend you put or hold your Bitcoin in Binance or any exchange, the risk is just too high, go to a wallet where you control the key, and about the possibility of hacking it depends on how well you know about computer security, I always say that once you invest in Bitcoin or Cryptocurrency you are your own bank and so much depends on your knowledge of security.

un_rank

hero member

Activity: 644

Merit: 661

- Jay -

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

Investing in Bitcoin can either be profitable or a loss.

Investing means "put (money) into financial schemes, shares, property, or a commercial venture with the expectation of achieving a profit." Investing in anything at all is like a gamble and can result in a profit or loss.

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.

Neither, keep your bitcoins in a non custodian wallet that is open source.
As suggested by mk4, do your reading and learn how it works, then you decide how to hold it.

- Jay -

passwordnow

hero member

Activity: 3136

Merit: 591

Leading Crypto Sports Betting & Casino Platform

Get some idea of where you should keep it through this stickied thread about wallets: [General] Bitcoin Wallets - Which, what, why?
It's never an advisable thing to keep your bitcoins in the exchange if the sole purpose is just to save them there. Because you don't hold the keys so you don't anything yet there if it's in there. Once you place your order from the exchange and your bitcoin is already there, you have to withdraw it and move it to your chosen wallet of yours like Electrum.

Husires

legendary

Activity: 1596

Merit: 1288

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?

There is no difference between them, and on the contrary, you put it in a place where it can be hacked.
Any open source wallet is a good option, in the forums electrum is often recommended for your desktop and Samurai Wallet for your Android phone.
Then, make sure that the operating system is clean and does not contain viruses, do not randomly click on links or randomly download files, especially from torrents (paid applications for free or cracked.)

As for investment, do not invest in something you do not understand, learn about bitcoin and invest in the long term.
The best investment strategy is to buy fixed amounts of bitcoin every period, for example, a week, and keep it for several years.

BIT-BENDER

hero member

Activity: 1666

Merit: 709

Playbet.io - Crypto Casino and Sportsbook

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.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Honestly, do your own reading and decide for yourself.

Also, do research before asking. There's literally a pinned thread on this section about this topic.

https://cryptosec.info/wallets
https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151

CryptopreneurBrainboss

legendary

Activity: 2450

Merit: 4295

eXch.cx - Automatic crypto Swap Exchange.

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?

Irrespective of where you keep your Bitcoin, there's a possibility of it been hacked and stolen from you immediately you become careless with your private keys. It doesn't matter if you're using a paper wallet, Electrum or any of the hardware wallets, provided you have exposed your private keys by storing them online, your wallet is as good as been hacked. Both Trust wallet and Binance are central service providers and not the best place to store your Bitcoin especially as you'll be investing for long term.

I make use of electrum, you can download the mobile version (for everyday transactions) or that of the PC and make use of it for storing your coins for longer term without any complications. You just have to update the wallet to the latest version whenever you see the notification and make sure the devices you're using to access your wallet isn't been used for other online activities as malware could infect your PC from so doing..

bitmover

legendary

Activity: 2352

Merit: 6089

bitcoindata.science

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

There will be no possibility of hacking. please help and advice?

You are looking for a hardware wallet , as Rikafip suggested.

Your binance account can be hacked, binance itself can be hacked , and they also may decide to frozen your funds and request more documents to prove you really own them.

Don't use trust wallet, not a good choice.

the best hardware wallets for newbies are trezor and ledger.

sujonali1819

legendary

Activity: 2436

Merit: 1189

Need Campaign Manager?PM on telegram @sujonali1819

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?

Wait, What did you mean by Invest? Is it something like staking? Or Just buying some bitcoin and hold till profit? I am still in confusion.

Btw what is previously said that always a hardware wallet is better to store your crypto. If you use any software wallet you must keep the secret key securely in offline. Never store it in online to keep yourself secure.

And about investment, if people in the world thing about investing in crypto they first think about Bitcoin. If you give me a list where BTC is involved and ask me to.choose a crypto for investment, I will say it’s Bitcoin.

But if you don't have any knowledge of investment, you must gather some knowledge first before depositing in crypto either it’s Bitcoin or other crypto.

KingsDen

legendary

Activity: 1288

Merit: 1081

Goodnight, o_e_l_e_o 🌹

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?

Your caption is somewhat misleading. No one gives investment advice in this forum. Even when such advice and/or information is given you free, you would still be asked to do your own research. That particular phrase with the acronym DYOR is a disclaimer by the advisor and/or informant stating that they are not responsible for any losses you may encounter as a result of their advice and/or information.

About your question. It all depends how much bitcoin you want to buy and how long you will allow your bitcoin before withdrawal.
If you are buying anything less than $50, there is no need spending more than $30 to get a hardware wallet.
Then if you are buying bitcoin to withdraw when their is a 2 to 5% increase in the price you bought, you may also consider to use exchange for easy monitoring.
Otherwise follow what Rikafip advised above.

Rikafip

legendary

Activity: 1722

Merit: 5937

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

Should I put it in Trust Wallet or Binance?

Those two are some of the last places where you should keep your bitcoin because former is a closed source wallet under Binance control, while latter is exchange where you don't even have control over your own bitcoin. Not your keys, not your coins.

By far the best place to store your bitcoin is your own non-custodial wallet, preferably hardware wallet (Ledger, Trezor) if you can afford it. If not, software wallets like Electrum will be fine, just make sure to store your seed at a safe place.

Mr.corol

member

Activity: 168

Merit: 58

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?

Topic: investment advice? - page 5. (Read 783 times)