Topic: We need to understand bitcoin and wallets before investing (Read 479 times)

This is one of the reasons why money isn't everything, if someone introduce you to crypto you need to learn from them in time, but people this days, once they hear that its possible to make money out of something they will dive into it straightaway without any questions and concerns first, crypto is a no-nonsense land, it gives no face for anyone who are not ready to put their money somewhere first and give their whole self into learning about crypto, they will always get burned if they are not ready to learn.

Crypto is unforgiven for everyone who aren't ready to learn, because there are more than dozens of places where you will surely make mistakes or fall victim to scams, it's inevitable for people who don't want to learn, and that's why we see some people calling Bitcoin names, instead of taking the blame on themselves.

I was so ready to make all the mistakes but my main focus is practicing everything myself, and I did end up with some losses but later I started to realize that it is better to devote your time and energy on learning first, until you are sure to handle things yourself.

Understanding Bitcoin and the use of wallets is indeed crucial before investing in cryptocurrencies. Bitcoin can be a valuable asset, but it's essential to educate oneself and others properly.

Teaching older generations about Bitcoin can be beneficial, but it's important to consider their individual circumstances. Bitcoin investments are often seen as long-term assets, making them more suitable for younger individuals. However, older individuals can also invest in Bitcoin, provided they have a clear understanding of the technology and its potential benefits.

It's vital to provide comprehensive information about the positive and negative aspects of Bitcoin investment. This ensures that potential investors are aware of the risks and rewards associated with cryptocurrency.

Proper research is essential for anyone considering Bitcoin investments. Learning about concepts like seed phrases and secure storage is crucial to safeguarding your assets. Misplacing Bitcoin can be costly, so it's important to take precautions and stay informed.

https://coinremitter.com/?utm_source=com&utm_medium=bitcointalks , a crypto payment gateway, can help facilitate secure and convenient cryptocurrency transactions. Coinremitter's services can be a valuable resource for those looking to handle cryptocurrency payments.

The sequence will probably be the same as most users assume, but I think before you decide to invest in bitcoin, you need to prepare yourself in advance for a few things like the following:

• Find out as much information as possible about the asset you want to invest in.
• Learn how to get them and how to spend them
• Get the best wallet to store it safely
• Build mentality, psychology and improve your skills in risk management.
• Meanwhile, you also need to prepare yourself to have an emergency budget instead of investing all your budget in bitcoin.
• Diversify, not necessarily about owning more different assets but also by not keeping your bitcoins in one wallet.

Above 70? Nah? Let them live their remaining life peacefully and choose everything as per their own needs. I think if they already hit the last phase of their lives then they have definitely it’s gonna be hard for them to understand what we are talking? I think we should not even try it because it would take them on the road that they never imagined.

On the other hand I would also suggest not to teach anyone of any age group as long as they are not willing to do that themselves.

It is fine to add everything in the educational system and let the new generation understand what it is and if they are willing to chose that side then they will go with it. That’s how it should be, natural way!

Zero knowledge means zero profit finding yourself in that environment alone you have to be smart in making decisions and one wrong decision can cost you, even with having proper knowledge you can still lose money compared to not even having knowledge at all too risky to think, experience helps will trading and we should not forget that every business have there own risk and bitcoin is not excepted so let us be guarded, not disputing the fact of making a profit



That's what answered Bitcoin is complicated to think you can invest and start earning, about bitcoin then I don't believe in luck when the time is right everything will fall in place, and even while making a profit some strategies have to be adopted, to always take profit. and once the understanding is there things are easy and security should be taken seriously also, the aspect of investing more money more profit true but lets invest what we can afford before you start hearing taking of loan to invest in bitcoin. you can always, its better to always buy when it is convenient for you.

Knowledge is like your weapon when you step into the battlefield, winning or losing depends on how you use it, not entirely on it. Even if you have the most advanced weapon on hand, if you can't maximize its power and lose, it's your fault, not the weapon's fault. Knowledge is money, many people have no money in hand, no inheritance...but they have knowledge and they use that knowledge to create money for themselves. If you have knowledge about the market, earning bitcoin is not too difficult.

They can be taught to not save bitcoin on exchanges, in custodial wallets, in online accounts. It's hard to convince newbies to be careful but as lecturers, mentors, it's the only way to help newbies who are responsible for what they do after listening to free lecture, conversation or meeting.

Reminder: do not keep your money in online accounts

It is a good beginning but not enough. Newbies must backup their wallets (private keys, mnenomic seeds, wallet passwords) for recovery in future.

The paranoid user's security guide for using Electrum safely.
How to Safely Download and Verify Electrum

Be careful when using mobile devices to store bitcoin.
WARNING when using mobile device wallets (Android, iOS)

Sorry about your loss. And after reading all your posts above, I got a point in what you want to introduce. Yes, in Bitcoin, if newbies want to save the investment for sure, they must learn first how to save Bitcoin on their own wallets. Sometimes, they think this is not important because is very wash time to learn it. Because they not as tech-savvy make they think also if create the own wallet with own key is difficult, however, if they learn it properly, they can easy to create with only 1 hour.

Having knowledge about Bitcoin does not guarantee you of earning at all. There are people that have so much understanding about the Bitcoin network and still yet they are not earning from it. For you to earn from Bitcoin, you must invest what you have and the more money you invested the high chances of you making some good profits from the market.

 The rich people are the ones that have the capacity to earn big from the market because they have the funds to invest has much as they want into the market buying large holdings of Bitcoin that could be very difficult for an average person to buy.

It seems you have done some research but you are still lacking knowledge. Trustwallet can be used to store bitcoin which is correct but the question is, does trustwallet secured enough to use?. Many forum members here won't even recommend using trustwallet instead they recommend other wallet such as electrum for example which is much safer to use than trustwallet. I would also recommend you to use other wallet provider. I have been using trustwallet before but I experienced some issues (not losing funds or got hacked).

Many people who started a long time ago in this industry are still learning everyday, cause even if you have gain knowledge and study it for months or years, if you don't know how to implement it there's no way that knowledge would be useful. And those charts, trends, candlestick thing literally have something to do it's price its like a manipulation. It's a fact that Bitcoin were based on supply and demand but some group and institution are using a huge capital to manipulate the market where people could take advantage from it. Some of them have a telegram group (which is not advisable since there's a lot of scammers roaming in TG) so they would give people a heads up that they would do something that can affect the current market. But yeah BS cause for how many years in this industry, doubling and tripling your money is not easy as it they say.

The problem of cryptoindustry is the lack of everyday use of cryptocoins. Nearly none of the business projects accept BTC directly without crypto to fiat transfers. Because of it, wallets are not widely used too, people simply have no need to use wallet apps (unlike digital banking apps, which are widely use worldwide). So at the moment wallets have only one main problem: app stability and good interface.

You've got a good point, however, trends, candlesticks, and anything that indicates a possible price direction can somehow help you to decide or give you an idea when to buy and when to sell your bitcoin. Of course, the price always depend on the demand.
Well, I agree about the guy you've quoted were obviously BS, because I can seldom hear someone even those who have been here for quite some time already that they have doubled or tripled their money "easily".

The OP described the whole thing as if the information about bitcoin is gotten from a very difficult place. With a few days reading in this forum and around the internet, you will get the basics information of bitcoin that will allow you start earning from bitcoin. The difficult things and that one's that will be giving much is  mayb;

• Minning
• Trading
• Running a full node 

Etc.
As bitcoin wallets it is nice you have a waller that you have the seed and open source code.

Jumping into an investment just because you heard positive things about Bitcoin was a foolish thing to do. Why haven't you done your own research? If a guy tells you that salt tastes like meat, would you eat it straight away? Most people will check first before doing so. Because they know the basics. But those who dive into it straight away are fools. Don't take it personally but it is the truth.
And there's nothing wrong with old people learning about Bitcoin. If they are able to understand the concept, then why not? Bitcoin is for everyone. There is no limitation on who can use it and who can't. Bitcoin has helped many people to turn their life back. Those who are successful with it make money.

And the thing about wallet security. Why haven't you backed up your key? Just because someone skipped that part does not mean you should look for it. If you had done some research on your own, you could've saved your Bitcoins. But that's in your past. People make mistakes and learn from them. So take it as a lesson and move forward. Stop blaming others when you are the one who made the mistake.

Why do you even have to look at it as an investment?  It bothers me that such a large percentage of people on this forum could care less about the actual technological advancements that bitcoin bring with it's decentralized nature as well as it's digital payment system/ non-double spending aspect.

I would first understand what bitcoin is, and why it's such a big deal (why it's such a technological breakthrough), then perhaps look in to "investing". 

Just don't forget that bitcoin is inherently NOT an investment.

That's a good point that we must tell both sides of stories to new comers. Telling only the positive aspect of Bitcoin may attract people to join the market but in the long run they need to know what are cons of Bitcoin. Bitcoin is not complicated it just require you to spend time to understand its core principles. Once you are familiar with basics of Bitcoin the remaining tech parts are easy to understand.

I expect much of the wallet recommendations from OP and what implications are there in using any of these wallets, then more proper information as well on bitcoin and how we could decide on which type of wallet to use and why, though you have spoken well from your experience but don't you think that people needs more of what they could hold on to than mere explanations, the areas that should be focused on with this topic should be on custodial and non custodial wallet, siting examples and explaining why, i believe you could do better the more you go, but you have done well with your little own way.

When teaching any individual about bitcoin, we should make sure we tell them everything they have to know about the market so we don't regret introducing them to the industry in the future. There's no referral bonus of introducing any individual to bitcoin so I don't see any reason why we don't tell them the good and the bad part of the market. If you keep the sad part of the market away from them, they'll hold you responsible in the future when the market crash and they lose.

Some individual investing in Bitcoin still don't know the difference between self custodial wallets, centralized wallets and also they don't know the difference between open source wallets and wallets that aren't open source, we should always teach them everything we know.

This is completely bullshit, you can learn as much as you can since there are many websites that teach about Bitcoin, just spend like 30 minutes everyday. I'm pretty sure even you're completely understand about Bitcoin, you will not able to double or triple your money easily since Bitcoin price is determined by supply and demand. Not through chart, trend, candlestick or something secret.

To invest the piece of information is necessary for my view, as what is the asset in which I am going to invest and what can be the potential outcome, and how I can keep my investment safe / risk-free. Risk free investment is completely different term from the safe as in safety we actually mean by the funds security and privacy on the same time riskt free refers to the strategy who you are going t take entry in the market. If you are investing a good reasonable amount as gaming to buy 2BTC or 3 BTC its can be called a very reasonable amount (I am not getting particular just an idea of the capital what you think is a lot to invest).

So the information about the security and asset is required in addition there is need to be awareness how to enter.

You should not go and buy the amount you have to device a strategy for the long term buying because we never know in which zone we are standing it is exit , entry, accumulation or distribution we can just speculate and results can be always 50 /50 ecept for the particular times.

It should have been more of a basic understanding of bitcoin than understanding the whole of bitcoin; understanding bitcoin never ends because it's a continuous process that has to align with society and as such, there will always be changes and upgrades. However, the security details should be expressed to newcomers at maximum speed, that is the basic background of bitcoin and when it breaks, there will not be bitcoin in the first place and no one can hold the bitcoin in their wallet.

Speaking about a wallet, there are hardware wallet and software wallet; the hardware wallet is the recommended type of wallet every bitcoiner needs in the first place, It is a type of wallet that don't get connected to the internet, and any attempt of online is free from the wallet but again, you have to make sure that it is properly backup and well save in a tight secure area where nobody will see except you. The software wallets are useful but only for daily spending and also signed transactions, they are not suitable for holding wallets as they are prone to hacking and your bitcoin will always be prone to dangers.

Most of the elders are not enlightened with Bitcoin of course they focus to their self and how to survive in their time and only they know investment is with the use of the business, work and etc. I guess the best explanation is even if they know Bitcoin they will buy to hold it without having an assurance for the long term to make it more profitable today?, if they know of course they immediately make an investment but they choose to have a business and work for survival on their daily basis. You cant make a decision not until you are on the same shoes.

The lifespan and return horizon of someone aged 70 or 80 may be limited, but consider that the value of knowledge transcends generations. It is not the purpose of teaching Bitcoin to grandparents to make them rich or poor, but rather to equip them with contemporary financial literacy. The query is not only how long they will continue to benefit from Bitcoin, but also how their knowledge could enrich conversations with younger generations. However, age is not a barrier to financial autonomy. Bitcoin may seem ideal for the lengthier investment horizons of the young, but its never too late for anyone to embrace innovation.

Absolutely, If I have 0% information about Bitcoin and I invest in it so of course, I can't earn any profit. But if I have proper Information about it and I invest in Bitcoin so every time I can earn double or triple my profit easily. So, we should collect information first and then invest in it.

Yes, it is very important for people to do research on everything ....before they invest in it... not just Bitcoin. Let's take a simple example :

There are currently Ponzi schemes doing the rounds, where Bitcoin are used as a payment option. People invest in these Ponzi schemes ..thinking that they are invested in Bitcoin... and when these Ponzi schemes collapse, then they blame Bitcoin.  

The same thing happens when people sell their bitcoins too early.... they make small profits or a loss.... and they blame Bitcoin for their poor decisions, based on very little market research.  

There are two coinbase wallets. One is custodial and has full control over your fund and due to obvious reasons, it's not recommended. Coinbase non-custodial wallet is close-source and that should be avoided too.
Trustwallet and blockchain.com are also close-source and shouldn't be used.
Metamask (not metamusk) doesn't support bitcoin.

Please don't suggest something you don't have correct information about.

Everyone should understand and know properly about Bitcoin and wallet before invest. Without proper knowledge we will lose our valuable fund. We should consider some point to invest. Like,

* Know about Bitcoin : Anywhere to invest we should know about that. So when we invest on bitcoin, then we have to know and understand about Bitcoin. We have to know Bitcoin's History because it will be helpful invest on bitcoin.

* Wallet and Exchanger : To invest on Bitcoin wallet is an important things. So we can use Different wallet like,
Coinbase,  Trust wallet,  Metamusk, blockchain.com etc.

Beside this wallet we can use different exchanger. Here we buy bitcoin easily and hold it. We can also trade here.  Buy, Sell and hold all we can do in exchanger. But for more secure we need completed KYC.

And should understand how to earn from Bitcoin investment. Also we think about investment period and profit margin. Overall everyone should understand about It's basic things and also risk. If we understand properly about Bitcoins and It's circumstantial things then we can invest on Bitcoin. Otherwise that investment will not gives us good return.

Understanding of bitcoin is like moving forward in researching of bitcoin of bitcoin and it's obvious that before you invest in bitcoin you most passed the process of understanding the basics things of bitcoin, like you will start for the protective wallets that can protect bitcoin, and secondly also know when to buy bitcoin and when to sell bitcoin  depends on your duration you have in bitcoin. So I believe that bitcoin have it's ways of understanding the basics things of bitcoin.

We should invest besides the factor of age, as the ones who are old or young have needs too, but you are preferring long-term investment here, and if that's the case, then I think you are right, as the old ones might not be there to see the results of their holdings, but that money could be of big use to that old person, like his children or grandchildren could use that money, or if he does not have any, he could use that money for donation purposes. There could be a lot of ways to use the money, but we should not keep age in mind; in fact, we should think about why we are investing in BTC or what we will gain for how much time.

You have suggested some good points, but I think the OP was trying to convey another message: this knowledge is also necessary to remain scam-free and competent in the market. Learning from BTC is the main goal here, but many people just take it as an investment opportunity and blindly invest in it in the hope of making a lot of money.

I have seen a lot of people with this mindset who invest a small amount and then hope for the best. But if we keep the factors the OP mentioned and a few of the ones you mentioned, then we will be able to get some good returns on our investment.

I did not really quite understand what you are implying here, as there is no age limit to invest in BTC or in any other type of investment, and no one is stooping to make an investment in BTC, whether they are young or old. If one is old or young and trying to make some investment in BTC, then he or she must have some aim to achieve as well as some expectations from those investments. Let's say even if a person is investing at the end of their age, he could give that asset to his or her heir in inheritance. But still, the time of death is not known to anyone. So stay positive and grow for yourself and your loved ones.
Agreed, as knowledge is the main factor before investing in BTC, as without knowledge, no one could really make expectations from their investment that are suitable. Like one without any knowledge, after investing $100 in BTC, he began to think that he would be financially free one day. But that's not going to happen, and we know that. Why? Because we have at least some sense of the market and how investment works.

Point 1.
Old people over 70 years are rarely willing to learn about investing. They would prefer to listen to old songs while opening photo albums of their memories when they were young. They will visit relatives or friends who are still alive while telling stories about the past. They don't want to get involved with investment issues, profit, blah blah blah.

They just want to live quietly in their old age while enjoying it because they didn't have time to enjoy it before.

Point 2.
Wait a moment. What did that person tell you that kept you from getting the right information about bitcoin? Haven't you searched for more information about bitcoin and just followed what was suggested to you? If so, that is the biggest mistake. But I admit many people still do things like that, just follow what other people suggest without looking for more detailed information. That's what makes them feel they don't get the right information about bitcoin, which is a reality that happens to people. And that's also what makes people finally feel cheated to invest in bitcoin.

Point 3.
From your story, it seems it was your fault that you misplaced your phone. Wait a minute, what do you mean by misplacing your phone? Did you leave your phone in the open public area and you lost your phone? How could that be?

It is most safe and secured to properly have knowledge on what you are having thoughts of investing your funds into. I have come to notice that most of the complaints about bitcoin scams and possible hacks are from newbies and as a result of their I don't care to know approach. You do not just wake up one morning and start investing your funds in what you do not have knowledge about irrespective of the fact that a family member or friend did tell you about it. It is good you are told about the bitcoin and the investment aspect of it but it is better you gain more knowledge on it by doing your own research so as to be well equipped with knowledge before investing your funds.

When you are too hasty to invest without acquiring the right information, you definitely will hit a brick wall in the cause of your sojourn into what you have no idea about and that would be very  disastrous.That is how people get scammed and they cry foul and call bitcoin a scam because they fail to do the right thing.

Looking at the other way round with respect to getting knowledge about credible and reliable wallets, one can do a search via google to see for themselves as there is nothing hidden online. There are lots of wallets which one would need to make choice from on which to adopt. Most of the wallets have been mentioned here by members for which anyone who cares  to see for themselves should do.

Lastly, it is not advisable to hold your assets or keep your assets under the watch of a third party such exchanges as it invariably means that you are not the owner of that assets as you have no keys to the wallet holding that assets.

Remember "not your keys, not your assets"

Before my discussion with you, firstly your English is broken and you must improve it as well as organize your idea and sentence structure better.

---

Point 1. Just say, invest what you can afford to lose it. Young or old, it is a must prerequisite before investing. If you are old, you can still invest in bitcoin and you can get profit or someone inherits bitcoin from you will get profit.

Point 2. You don't have to be a role model or a case study. You should not tell anyone that you got rich, became a millionaire by bitcoin. It's risky for your privacy and safety, don't do this. If you need some case studies, show them cases of serious loss by exchange scam, hacks, data breaches or wallet hacks by using a weak password. ^[1]

Point 3. Not your keys, not your bitcoins. Don't use close source wallets as they can have your private keys. Don't ask any person to create a wallet for you as he will have your private key. Don't use exchange account/ wallet as they have your private key.

Generally, when you use a Bitcoin wallet, back up its mnemonic seed or private key.

^[1] [GUIDE] How to Create a Strong/Secure Password.

IMO, you got it wrong on that part. Many of the people here have just heard Bitcoin and wasn't introduced by anybody at least for that person whom they've heard bitcoin from.

But I do understand the part that these people who have told Bitcoin to the others and don't tell them the negative side of it. Actually, the negative side of it is that it is highly volatile. But with that, you can think of it as an opportunity if you're able to understand what Bitcoin really is.

The price fall has always been the discouragement of many newbies and that's not a problem on them. Because whoever sees the price falling has always negative thoughts of it and that's pretty normal.

More like, you need to use it, and then understand if it really suits your needs and expectations. I do believe people need to understand wallets and self custody but it might not necessarily be a requirement for them to use Bitcoin.

In fact, as a pre speculator, one might argue one doesn't even need to be in contact with Bitcoin wallets

People in general need to educate themselfes better before doing with anything related to bitcoin or crypto. All the time I see questions of new users that at supposed to receive 1000s of $ in crypto and they have no clue how to use a wallet or even check a transaction.

Even google would help them with the slightest effort of checking but they find this forum to ask.

It is very risky to handle so much money without having any clue, this opens the door for a lot of scam attempts on these people, which is very concerning.
You don't play poker for real money if you don't know the rules of the game, so why "gamble" your money in crypto if you have 0 clue what you are doing. 

Isn't that a basic step and actually not only bitcoin but almost in all investment instruments we have to know what to do about what we do before actually investing.
Bitcoin is one of the objects that can be used as an investment but that does not mean we are directly in bitcoin without knowing more about what bitcoin is because we have to know the ins and outs that exist in bitcoin itself so that we can be absolutely sure about what we are doing that it is right.

On the other hand in this case point 3 is actually quite disturbing to me, even though trust wallets can be used as one of the wallets for storing bitcoin but that does not mean they are a safe place and I don't think you have implemented what you described in your title because we all know that trust wallets are not one of the wallets that are comfortable for long-term storage even though it can be done.
Just because the name "trust" is there doesn't mean you should be completely confident in that wallet because there are many wallets that are much better than trust wallets.

Actually when you want to start to invest in Bitcoin, you must understand about exchange because it's a way to buy or sell Bitcoin, wallet is used as a place after you bought your coins. If you want to use hardware wallet you can use Trezor or Bitbox, if you want to use non custodial wallet you can use Electrum or Bluewallet.

You can use centralized exchange to buy Bitcoin, but it's not advisable since there's no privacy, you can use No KYC P2P e.g. Agoradesk or DEX e.g. Bisq.

I would like to ask Riginac is the difference between a young person and an old person who does not understand bitcoin? It is just age of course because the both persons are ignorance in bitcoin. What I'm trying to say here is that age does not really matter or limit one from knowing bitcoin or accepting bitcoin.

Bitcoin can be useful to anybody irrespective of the age, what should be concerned when using bitcoin no matter the age you fall into is, why do you need bitcoin and what do you need bitcoin to do fall you( understanding the main purpose of bitcoin ).

 If one can answer this questions about the reason for Bitcoin then the person is free to use Bitcoin no matter the age the person falls into. I don't think Bitcoin is only for young people,  I can agree with the rate at which young people are into Bitcoin is high and the rate of old people is low, but having a conclusion bitcoin is not for the old people is wrong.

They don't have be the only ones profiting from their investment directly. Instead, they can pass it on to their children after they die. Let take it from another perspective Why can't people over 70 invest in Bitcoin? It's likely less stressful than someone of the same age running for the Post of a president. My point is, as long as these older people can still read or are physically capable and are willing to understand the technology and risks involved, they can take part in the cryptocurrency market. There's no age limit for using Bitcoin.




before investing in anything it is always adviced to DYOR (do your own research). carrying out research helps you understand further in details about
1. what you are putting your funds into.
2. how long such investment has existed.
3. what you will benefit from such investment.
4.precautions to take before and after investing.



At this point, I'm having trouble understanding what you're saying. I thought since you know about Bitcoin since 2014, you'd know that if you lose your phone, your Bitcoin isn't gone
As long as your seed phrase were written down and kept just as you said, you can always recover or have access to your funds.
 Bitcoin or cryptocurrency are not stored in your wallet, but are recorded on the block chain. the wallet serves as device which connect you to the Blockchain and displays the total amount of funds related to your wallet address.  I think you and your instructor still needs to learn a lot about Bitcoin because from what you said it shows clearly that he is still a newbie into the crypto space and he is misleading you mate.

I fully understand what you have written here. My question to you is, how would you convince a generation that practically lived on cash & plastic card in their entire lifetime. They are in living on the verge of death & life now. They all have retired from their work and want to live their life in peace with thier medical issues. You cannot ask them to go ahead and invest in a new technology, which by the way is just a decade old. In my country old people don't think about investing in anything new, they do encourage in investing the old ways like gold and property. In suc a scenario it is hard for the young generation to invest in Bitcoin.

We should know about bitcoin wallet because after buying bitcoins we need to store those bitcoins in a safe place. Before you know about bitcoin wallets we need to know some more things before investing in bitcoins like.

1 What is Custodial & Non Custodial
2 From where we should buy bitcoin? and how.
3 When we should buy bitcoin
4 How long we should Hold Bitcoin
Etc.....

In your example, you have shown that you have gaps in your understanding of how bitcoin works, but you suggest that the older generation may have some problems with this. It's funny. If you spend more time on this forum, you will be surprised to learn that your grandparents' peers are some of the most active and understanding of things.

The problems that may arise are more related not to age, but to the level of preparation for studying the topic. If a person has a sufficiently rich life experience and technical savvy, he will be able to understand on his own whether he should be actively involved in bitcoin at 70, and at 80, and at 90, and over 100, and older.

On my mobile device, I have just searched for it. This is is what I saw while using Google search:



Coinbase is a custodial wallet ❌
Blockchain.com is a web wallet and close source ❌
Ledger Nano secure element is close source and also having ways your seed phrase would be given to third parties and also careless about customers data and privacy ❌
Exodus is a close source wallet ❌
Electrum ✅ Excellent.
Trezor Model T. With Wasabi coinjoin ❌. A good wallet but without Wasabi coinjoin ✅
Ledger, the same company that manufactured Ledger Nano S ❌
Trustwallet is a close source wallet and not a good bitcoin wallet ❌
Metamask is not a bitcoin wallet

I was unable to see Passport, one of the recommended bitcoin hardware wallet.

Other recommended bitcoin wallets:

• Sparrow
• Bluewallet
• Specter
• Samourai for coinjoin

What I am trying to imply is that it is good to research for good bitcoin wallet from the right source, like asking on a forum like this forum because search engines are full of misleading information.

Some people can be lucky, but there are some misleading ways like pay-to-click, solving captcha, faucets and some other ways that are only waste of time. Airdrops and pay-to-click can lead to phishing, wallet hack and scam.[/list][/list]

You did not read carefully, because if you do you would have understand what I said. This is one of the challenges we have in reading articles, at least we are supposed to read twice to understand before responding to some questions. What I asked is that " is it necessary to teach someone that's above 70 years bitcoin, that questions does not have to do agree or disagree, its a question that you will make your own suggestion, because I did not say its good to teach 70 years old person bitcoin

I don’t agree with you that bitcoin is meant for only the younger. Yes it is a technical thing that requires knowledge. But bitcoin is first of all a payment gateway and everyone certainly needs to buy things not just the young ones. Also bitcoin has been used by many has an investment asset, and we all know that it is the older generations that are looking for investment asset just to leave off some funds for their children and grandchildren and with bitcoin they have the perfect asset to last for a long time with ROI advantages and also without the fear of devaluations that comes with fiat currency.

The wrongest decision one could make is to dabble into something they do not know, this is why many would call Bitcoin names while they are actually the guilty ones here.

Many things are expected to be learned about it but four aspects of Bitcoin have to be learned majorly, the rest are left to the person. The aspects are;

1. How Bitcoin come into play and Why.
2. How to buy and sell Bitcoin.
3. Best wallets for Bitcoin
4. How to earn through Bitcoin.

You said that people should do proper research before investing in bitcoin. I doubt you have done so yourself. Otherwise, you would know that trustwallet is not a good choice.
Take note that trustwallet is close source and there is no way to know how the keys are generated.


What?
Someone wrote down the  seed phrase for you and after two months you lost your phone. Am I getting you correctly?
If you have access to your seed phrase (assuming that person hasn't stolen your bitcoin), you should be able to recover your wallet.

Anytime that you buy bitcoin, it is never too late for anyone that does have children and wife. If your children inherit your bitcoin, it is better than fiat.

I saw this on Twitter:



Most old people will prefer to have their money in saving fiat but which are devaluing assets. If an old person understand about bitcoin, he can have some of his savings in bitcoin which is possible that his children will benefit from it than fiat.

Point 1
When I think of bitcoin I see Bitcoin like treasure and their is desperation in me that bitcoin can not disappoint people who embrace bitcoin, but I'm not having the instinct that bitcoin will make us rich or bitcoin will make us poor because of the information I obtain from people investing in bitcoin. But I want to ask people who do emphasise on teaching their grandparents bitcoin what are their instinct of teaching their grandparents and their parents bitcoin, is it necessary to teach people that is above 70 years bitcoin and if they invest in bitcoin how long will they benefit in bitcoin before they die. I do see bitcoin investment like an asset and investments plans that is meant for young youths until they get to old age and its not something that is not something thats meant for old people that is above 70 years to 80 years.

Point 2
It's good to give a proper information to whom you want to introduce to bitcoin investment because I use myself as case studies because I was not properly informed of bitcoin investment because someone who introduce me in bitcoin did not give me the proper ethics of bitcoin marketcap scenario, when bringing people to bitcoin investment some people doesn't not teach the negative part of investing in bitcoin they only concentrate on the positive side and that is one of the things that discouraged some people not to invest  in bitcoin.

Point 3
What bitcoin investors needs is a proper research by the person concerned so that the person will get the full gist of bitcoin before investing its funds, I know what's bitcoin since 2014 and I knew that during creation of what I have to write down my seed phrase and document it, so after opening a trust wallet and I purchased bitcoin through luno platform with the directions of the person that introduce me to bitcoin and everything concerning the wallet was written by him and after two months I misplaced my mobile phone and that is how misplaced my bitcoin, when I asked my instructor of way forwards of retrieving my bitcoin he said since I have lost my phone its the end of my bitcoin