What do I need to know? | Bitcointalksearch.org

UchihaSarada

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Quote from: rachael9385 on February 12, 2023, 10:59:11 PM

Which crypto currency wallet can I use to invest on Bitcoin?

[General] Bitcoin Wallets - Which, what, why?
Electrum wallet.
Bitcoin Core.
[GUIDE] How to Safely Download and Verify Electrum

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Can I use luno wallet to invest in Bitcoin?
https://www.luno.com/

It is safe to not touch them because you have many older wallets that are safer with years of operations and good feedback from community and users.

Luno introduces interest paying Bitcoin wallet.

I watched their Youtube videos: https://www.youtube.com/watch?v=Mm-0fkx9eBE&list=PLvmGHZnqNO9TeR-tGZmxBGaNT2gAX6I6c
and they require users to KYC that is not what I like to do. I don't use this wallet. With KYC, I feel like they are custodial wallet and don't give users private keys or mnemonic seeds.

Using Luno wallet is like using a bank account.
Risky Reminder: do not keep your money in online accounts

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I can learn more about Bitcoin investment.

Invest by dollar cost averaging.
https://dcabtc.com/

CageMabok

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Quote from: rachael9385 on February 12, 2023, 10:59:11 PM

Which crypto currency wallet can I use to invest on Bitcoin?
Can I use luno wallet to invest in Bitcoin?
https://www.luno.com/
Based on the way I am very despirate about crypto trading I have been scammed many times. I don't really know how I joined this forum but the way am seeing things, here this is were I can learn more about Bitcoin investment.

Luno looks like an exchange and if you want to make an investment by holding more Bitcoins try to choose a good wallet as suggested by @_act_ in his post instead of keeping it on any exchange because you can't have full control over the wallet that is on any exchange like you manage a wallet that you make yourself personally. So try not to keep more Bitcoins on the exchange if you are not trading them on a daily basis.

suzanne5223

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Quote from: rachael9385 on February 12, 2023, 10:59:11 PM

Which crypto currency wallet can I use to invest on Bitcoin?
Can I use luno wallet to invest in Bitcoin?
https://www.luno.com/

Luno is a CEX exchange and it's never a cryptocurrency wallet, I also make use of it at some point due to the exchange offering the cheapest tx (withdrawal) and trading fee.

Quote from: rachael9385 on February 12, 2023, 10:59:11 PM

Based on the way I am very despirate about crypto trading I have been scammed many times. I don't really know how I joined this forum but the way am seeing things, here this is were I can learn more about Bitcoin investment.

You can learn more about the Bitcoin investment but you need to set aside your desperation, learn from your previous mistake and focus on the future because every one of us is once in the same situation you're in before we learn about the basic knowledge of Bitcoin which prevent us from making a wrong decision.

drwhobox

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If you want to buy crypto currency, you can use coinbase or binance to buy them. After your purchase you can send them to your electrum wallet if you don't have that big flashy amount of bitcoins. But if you have a decent amount of bitcoin and you want to keep them for long time,go for a hardware wallet. It is more safe and more secure for long-term holding.
I don't see any chance of getting scammed if you try to trade bitcoin. I am not sure which scam trading website you used to buy bitcoin. Next time go for any reputable exchange.

martyns

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Quote from: Razmirraz on February 13, 2023, 03:29:10 AM

Let your experience be the most valuable lesson, being a victim of a scam is not something that Crypto asset traders want. You need to learn more about wallets that are worth using to store Bitcoin. I think you should stop here more often to learn more to find out which Wallet you should use.

Some person's are scammed and scammed again but they never learnt any lesson,and they will continue to remain a victim of circumstances because they don't want to learn.Scammers are out there learning different strategies everyday,developing new skills on how to scam people.
I have been scammed ones,and I don't think I will ever fall a prey to scammers again.Thesame way they are developing tactics on how to scam people,so am I devising a means to know scammers.It us good to always be watchful and always learn from experiences in order not be a victim twice.

aysg76

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Quote from: rachael9385 on February 12, 2023, 10:59:11 PM

Which crypto currency wallet can I use to invest on Bitcoin?

You can invest in bitcoin through some exchanges or with P2P ways like localbitcoins.com and then safely secure your coins in non custidial wallets like Electrum with your seed phrase safely.

Quote from: rachael9385 on February 12, 2023, 10:59:11 PM

Can I use luno wallet to invest in Bitcoin?
https://www.luno.com/

It's not wallet but say a platform that let you buy/sell ETH and BTC but still have the risk of central authority with control of your keys but if you want more information about it read it here

Quote from: rachael9385 on February 12, 2023, 10:59:11 PM

Based on the way I am very despirate about crypto trading I have been scammed many times. I don't really know how I joined this forum but the way am seeing things, here this is were I can learn more about Bitcoin investment.

This market has chances to earn good profits but also invite the number of scammers to find different ways to make you fool as this is whole digital money into your wallets and exchange so it's more prone to risks.But the first thumb rule states that invest once you understand the market and in your case you have been already scammed of your funds and don't have knowledge for it so best is not to invest at this time.But if you want then best is to invest only in bitcoin with the amount you are willing to loose and keep it safe for long term in your wallets.Also learn about bitcoin which will help you to understand a lot about it and how to manage your funds safely.

PrivacyG

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Quote from: rachael9385 on February 12, 2023, 10:59:11 PM

Based on the way I am very despirate about crypto trading I have been scammed many times.

Maybe it is time to stop being so desperate about trading and start being realistic? If being desperate only caused losses, why do you keep behaving like this.

Greed and despair only brings you negative change. Relax, chances to become rich quickly are extremely low. You will gain so much more through education and self control.

This is what you need to know first. Practice self control and be realistic.

-
Regards,
PrivacyG

Razmirraz

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Let your experience be the most valuable lesson, being a victim of a scam is not something that Crypto asset traders want. You need to learn more about wallets that are worth using to store Bitcoin. I think you should stop here more often to learn more to find out which Wallet you should use.

roksana.hee

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Luno is not a crypto wallet, it's one kind of buying & selling cryptocurrency place. If you use any type of crypto wallet then you must the trustworthy of that, like someone familiar with that wallet, or someone use that wallet before, obviously your nearest one. If you got the proof record or any transaction report. For that you can use that wallet, or if you don't get any type of proof from someone. You surely avoid that type of wallet.

After all, it's your own decision to use any wallet.

Outhue

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I was one of the first users of the Luno platform years ago before Binance later introduce Peer 2 Peer payment on its exchange, the fact is Luno wallet is a custodial wallet, you only need to log into the platform to access your crypto funds and assets. This is a bad practice for any crypto adopters in 2023, no doubt, a bad practice it is.

Wallets like Luno and Freewallet are missing users Private keys or recovery seeds, this mean that the team are the one keeping the keys for you, and this means that they have access to your funds, I believe this is not what you want OP.

If you want a good Bitcoin wallet for your phone, download Electrum @
https://electrum.org/#download

When you make enough money make sure you order for a hardware wallet, they are the most secured.

cryptoaddictchie

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Quote from: Accardo on February 13, 2023, 02:02:34 AM

But, first, like you said Op needs to cool off and watch how the market works, he sounds hurried, like he wants a quick turn up from his investment. I hope he won't get in the hands of cheater again, if he sticks to the forum he would learn how to do it himself.

Thats obvious to some people. But learning the process is the best way not to inevitably loss on a particular trades. Usually those newbies thinks that it was so easy, but the truth hurts that it more lossing side than gaining. We all knew how risky it is and the golden rule of invest you can afford to lose must be implemented as always.

Accardo

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Quote from: cryptoaddictchie on February 13, 2023, 01:06:24 AM

Quote from: rachael9385 on February 12, 2023, 10:59:11 PM

Based on the way I am very despirate about crypto trading I have been scammed many times. I don't really know how I joined this forum but the way am seeing things, here this is were I can learn more about Bitcoin investment.

You just did joined. Thats the problem with such hurry, sometimes we are overwhelm by potential gains that we are seeing on other people. We dont know if thats true or just copied from other people or worse they are just shilling for their own bags. We cant really predict what will happen on those projects being shilled. So yes, better decision to focus on major coin like bitcoin at least theres no shilling needed since its proven for how many years its legit.

OP's desperation must have left him with no option than to choose BTC, which is a good take. I think from his motives he wants a starting point to begin his trading journey. Binance would be a good place for OP, as they offer trading tutorials for beginners and he could as well start with small funds. They're nice wallets recommended for him already, but some like electrum seem technical for a newbie like OP. What matters now is for him to try hot Android wallets for now then move on to open source wallet like electrum.

But, first, like you said Op needs to cool off and watch how the market works, he sounds hurried, like he wants a quick turn up from his investment. I hope he won't get in the hands of cheater again, if he sticks to the forum he would learn how to do it himself.

_act_

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Lightning network is good with small amount of BTC

Luno is not a wallet, it is an exchange. Even if you regard it as a wallet, it is centralized. You can use Luno to buy bitcoin, but send it from there to a wallet like hardware wallet or if not plenty you can use wallet like electrum.

Read more about bitcoin: General] Bitcoin Wallets - Which, what, why?

Use cold storage if you want to invest big.

cryptoaddictchie

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Quote from: rachael9385 on February 12, 2023, 10:59:11 PM

Based on the way I am very despirate about crypto trading I have been scammed many times. I don't really know how I joined this forum but the way am seeing things, here this is were I can learn more about Bitcoin investment.

You just did joined. Thats the problem with such hurry, sometimes we are overwhelm by potential gains that we are seeing on other people. We dont know if thats true or just copied from other people or worse they are just shilling for their own bags. We cant really predict what will happen on those projects being shilled. So yes, better decision to focus on major coin like bitcoin at least theres no shilling needed since its proven for how many years its legit.

mk4

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One of the worst things you can do in this industry is to immediately jump into the trading/investing part of things. That's pretty much like a recipe for disaster.

* If you like reading articles: https://coindesk.com/learn
* If you like reading books: https://theinternetofmoney.info/
* If you like watching videos: https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj

Security related:
* https://cryptosec.info
* https://www.lopp.net/bitcoin-information/security.html

If you want to get more technical
* https://github.com/bitcoinbook/bitcoinbook#chapters

Plaguedeath

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I think the @OP got tricked because when I check the site, they do differentiate between wallet and exchange. But when you click the wallet, it doesn't contain anything beside the various coin and price graph, it doesn't mention if the wallet is secure, open source, non custodial etc.

@OP a good wallet is always non custodial where you're the one who have the seed phrase or private key and better to choose open source than closed source in order to make sure your wallet is 100% secure from scam developers. You can use either Electrum or Bluewallet, it's a friendly choice for beginner.

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Quote from: rachael9385 on February 12, 2023, 10:59:11 PM

Which crypto currency wallet can I use to invest on Bitcoin?
Can I use luno wallet to invest in Bitcoin?
https://www.luno.com/

I won't advice you to use luno wallet instead why not down electrum. It has both desktop and android version. Or perhaps if you want to check out more wallets then check out this thread, it has so many open source wallets that you can use as a beginner and it also teaches you how to go about wallet selection. [General] Bitcoin Wallets - Which, what, why?

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Based on the way I am very despirate about crypto trading I have been scammed many times. I don't really know how I joined this forum but the way am seeing things, here this is were I can learn more about Bitcoin investment.

Having this kind of behaviour means that the probability of you getting scammed the second time is high. Trading is not something you just dive into without proper training if eventually you go into trading blindly in less than no time you'll fold up and be back to square one. So just take your time to learn and during the process you can start applying all that you have learnt and I'm sure you will see positive results.

Z x

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Quote from: rachael9385 on February 12, 2023, 10:59:11 PM

Which crypto currency wallet can I use to invest on Bitcoin?
Can I use luno wallet to invest in Bitcoin?
https://www.luno.com/
Based on the way I am very despirate about crypto trading I have been scammed many times. I don't really know how I joined this forum but the way am seeing things, here this is were I can learn more about Bitcoin investment.

Luno is not a crypto wallet. Luno is a place for buying and selling cryptocurrency.
A wallet and an exchange are different things.
Storing assets within an exchange is not a fully good thing.
Conduct trading on the exchange and then store it in a wallet.
Wallets can take many forms, so you need to find out about crypto wallets, here are some references: https://bitcoin.org/en/choose-your-wallet
Storing assets in an exchange opens up the risk of loss, as in the recent case of FTX.

rachael9385

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Which crypto currency wallet can I use to invest on Bitcoin?
Can I use luno wallet to invest in Bitcoin?
https://www.luno.com/
Based on the way I am very despirate about crypto trading I have been scammed many times. I don't really know how I joined this forum but the way am seeing things, here this is were I can learn more about Bitcoin investment.

Topic: What do I need to know? (Read 189 times)