The term "Bitcoin Jumpstart" in this thread refers to a collection of essential Bitcoin tools and resources for beginners to understand and engage with Bitcoin easily. This thread provides hints and resources for Bitcoin enthusiasts who may find it overwhelming to navigate through various threads to grasp the concept of Bitcoin. With "Bitcoin Jumpstart," beginners can have summarized starter packs to kickstart their journey into Bitcoin.
The kits vary based on how the developers and founders implement them. Some are open source, while others are not. However, I will focus on including the most reputable and reliable ones that are trusted by the Bitcoin community and are suited for decentralization. The kits are itemized as follows:
Wallet: As a beginner that is using Bitcoin for the first time, you will at some point require a bitcoin wallet in order to receive and transfer bitcoin. There are various types of Bitcoin wallets in hardware and software options, but it is advisable to opt for an open-source wallet. These wallets have their codes publicly available for the Bitcoin community to review, evaluate, and ensure their authenticity for everyone. Additionally, open-source wallets are regularly checked for bugs to ensure that users' keys are safe and secure. some examples of open-source wallets are:
The following hardware wallets are open source and their code is available on GitHub and reliable in alphabetical order: Bitbox, BitHD, Bitlox, Cypherock X1, Hito, HyperMate, Jade, Keepkey, OneKey, OneKey Mini, Passport, Prokey, Satochip, Secalot, Trezor
Software wallets are simple to use and available for devices and can be installed on both computers and mobile devices. However, they are only suitable for small amounts of Bitcoin intended for daily use or spending. For secure storage of larger amounts, a hardware wallet is highly recommended. For those who prefer open-source mobile wallets, they are denoted in italic format among the available options: Bitcoin core,
Electrum,
Bluewallet, Wasabi,
Samurai, and Sparrow wallet.
Bitcoin explorers: Bitcoin explorers serve a purpose in allowing users to monitor the movement of Bitcoin from one wallet address to another, track input and output, and view wallet address balances. However, with the abundance of such explorers available, the ones I have chosen stand out due to their ability to scan the latest types of wallet addresses, such as P2TR, which are supported by these explorers and are listed in alphabetical order for ease of use:
Bitaps.com,
BitInfoCharts,
BitcoinExplorer,
BitcoinWho'sWho,
Bitquery,
Blockchair.com,
BTC.com,
Chainflyer.bitflyer.jp,
Mempool.space,
OKLink,
TokenView, and
Trezor Bitcoin Explorer.
Decentralized Bitcoin Exchanges: As a new person to Bitcoin and looking to buy it for the first time, you'll need to use a Bitcoin exchange. While there are many types of Bitcoin exchanges available, the majority of them are centralized, meaning they're controlled by the people who created them, and the cons of using centralized exchanges outweigh the pros in the long run. That's why it's recommended to use a decentralized exchange to buy your Bitcoin and always ensure that you transfer your funds to your hardware wallets. Some popular and easy-to-use decentralized exchanges include:
Changely,
Bisq, and
Hodl Hodl. When there is a need to swap from other tokens to Bitcoin, use centralized exchanges that don't compulsory KYC like Kucoin (allows upto 1BTC/day without KYC), Houbi (allows upto 5BTC/day without KYC), and MXC (allows upto 20BTC/day without KYC).
Bitcoin Mixing: Bitcoin is commonly associated with KYCs and taints, which can lead to profiling and linking individuals to their Bitcoin transactions or any criminal activity. To prevent this, mixing is a viable solution. When you receive Bitcoin from an unknown source, it is impossible to determine its origin. However, if you receive it from an exchange when selling tokens for Bitcoin, there may be a connection. Mixing breaks this link, making it one of the best ways to increase your privacy. There are various programs available that break the input-output connection and ensure anonymity, although they come at a cost. However, these charges are reasonable and usually quite affordable. Some renowned mixing services include:
/]CryptoMixer,
/]Anonymixer,
/]Coinomize,
Blindmixer,
/]UniJoin,
Whirlwind.money,
/][banned mixer],
Sinbad, and
many more................Bitcoin Accelerators: These services work but the genuine ones are rare, accelerators fasten transactions that are stuck in the mempool due to exorbitant rises in transaction fees. Without their intervention, it could take days for your transaction to be confirmed. They collect your transaction ID and ensure that it is confirmed promptly. Some of the services that offer this include ViaBTC and BTC.com. In reality, an accelerator is not necessary if you use a wallet with Replace By Fee (RBF) functionality, as it enables you to increase the fee and bump your transaction when it is stuck and refused to confirm.
Cointracker and Market Overview: Market overviews and coin trackers are very important as they allow you to monitor all the available coins in the market. These platforms provide you with information on Bitcoin's trading volume, the exchanges where it is traded, it's market capitalization, as well as a comparison with other coins in the market. Additionally, on platforms like Coingecko and Coinmarketcap, you can create your own portfolio and add it to your watchlist.
Bitcoin Tax: In some countries, Bitcoin is considered a taxable asset, whether you are buying or selling it, using it to purchase items, receiving it as a gift from a friend, or receiving it as a reward for mining or through an airdrop. It's important to note that avoiding Bitcoin tax can lead to legal consequences in some jurisdictions. To prevent such issues, it's important to pay your taxes on time if you use Bitcoin, the following tools such as
Bitcoin.tax,
Blox,
Cointracking,
Cointracker,
Cryptotrader,
Koinly,
TokenTax, and
Zenledger, all can help you calculate capital gains, profits and losses, and other important analyses.
Bitcoin Books: Knowledge can transform everyone's life they say depending on how you use it, the material above is more in-depth than you could have imagined, it was sourced from other professionals and developers that made it accessible to beginners and those that are passionate about Bitcoin. There is a tonne of books produced by many authors with diverse content, yet they all express the same ideas. The ones that are easy for me to understand and are familiar to me are:
Mastering Bitcoin,
The Internet of Money,
Mastering Bitcoin for Dummies,
Digital Cash and
many more...............
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