Topic: Which is better, Self-Custody or Non-custodial? Please help me. (Read 382 times)

You can invest in bitcoin the moment you have the money to do so, and make sure that you are using part of your discretionary income to invest in bitcoin so that it will not affect you financially.
DCA is one of the best method for beginners to start their bitcoin investment journey because you will be buying every week or month regularly so that you can build and grow your bitcoin portfolio overtime.

Self custody is the same with noncustodial. When using a self custody wallet, it gives you the right to control your coins by yourself because only you have the private keys. Stay away form centralized or custodian wallets because they will be in full control of your coins.

Having something like this is quite important to understand your own personal preferences. I get that it is not going to be that easy, because figuring out who you are in the trading and investing world takes time and not everyone can do it easily, a lot of people take time and fail to do a proper research on it and have failure after failure in many cases.

However, when you finally figure out who you are , then you are going to end up getting better results for every question because you will know who you are and what you are looking for, which is the best thing you can do about this. I believe that it is going to be fine, but it is not going to be that easy to handle if you do not know yourself. If you could do that, then when you ask yourself anything, you have the answer already. I prefer non-custodial, but that doesn't mean that it's the right choice, could be wrong, I also keep my money in exchanges, which everyone dislikes so do not look at me for example.

LOL bro where have you seen that "that long term holdings can yield huge profits from bitcoins" ? It uses to do it for early adopters, when the market was very small or inexistant, now this are different. Nobody can guarantee you will make any profit by holding BTC, and you won't lose money instead. DCA won't help you for that, you will maybe lose less money, if Bitcoin crash but you will win also less money if a new bull run happens.

1. Investing would really be that depending on you whether you would be making yourself going for long term or you would really be going for short term.
Lets speak about long term, then you wont really be that mattering much about DCA because every entry or buy would really be consider to be good since you would really be that
still aiming for long term but of course it cant really be denied that having that low entry would really be ideal on which profits could really be that able to maximize.
If you are really just that still new to crypto space and its investing then the ideal thing that should really be done is via holding. It would really be up to you whether you would really be
trying out to make those upgrades and making up some short term trades.

2. Non-custodial.. Always consider out on storing your coins on a wallet on which you do possess or own the keys on which simply means that you do have that full
control of your funds on which it is really that totally opposite when storing up your coins on an exchange. No matter how reputable they would but still making use of
exchange wallets for long term holds would really be just that suicide.

I guess you wanted to say that this topic is in the wrong board - but if you don't report it to the moderator, then it will stay here forever.

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Regarding the question asked by the OP, I have to admit that @Ricardo11 gave an "impressive" answer in only about 20 minutes after the OP asked the question, it seems that the man types and thinks really fast

Too many people are missing the point, we are talking about preserving bitcoin after we buy, and the reality is that there is no wrong or right answer when we talk about this because it all depends on the person and the tool they use.

If you go with self-custody and pick something wrong or you are not someone who understands it well then you will lose it, if you know it very well and can protect it very well then it would be great, if you do non-custodial but connect to all and never understand security then you will be able to lose it all, so you will not be doing that fine, but if we are talking about something different then we are going to end up with someone who understands it and careful and that's when they are going to do fine. These are all important parts.

When you think you've got all it takes to embrace the risk on making an investment, but before then, you will have to learn about bitcoin, have the understanding of the network and know the kind of investment youre going for, once all these have been settled, you will have a proper and convenient starting ground for your investment.


Through the deep insight of knowledge you have in bitcoin.


DCA is one of the best ways through which you can invest in bitcoi and safe yourself the cost on having huge loss whenever the market dips, you can read more on what DCA is from here.

DCA Bitcoin
https://dcabtc.com/


None custodial wallet is best for your recommendation because you can recover your asset back if anything happened as long as you're with your keys.

Brother, thank you very much for explaining the subject of Self-Custody, Non-custodial and DCA so beautifully. Honestly I didn't understand Self-Custody and Non-custodial like brother @TatsuyaJemi, but now it's very easy for me. thanks you.

Choosing a wallet is very important when it comes to cryptocurrency holding or storage especially whether you choose a self custodial wallet or a non-self custodial wallet depends entirely on a personal matter. However, Self Custodial Wallet is completely safe for a user as it is not controlled by any third party but its control system is completely on the user due to which the chances of hacking are very less. On the other hand, in case of non-self custodial wallets, the security measures are entirely on the third party due to which the user cannot do anything without their permission, which makes the chances of hacking very high.

1.This forum thread is in the wrong forum. Move it somewhere else.

2.Just install Electrum wallet and write down your 12-word seed phrase on a piece of paper. Start buying small amounts of BTC and keep them in your Electrum wallet.
Don't pay attention to the current Bitcoin price. Don't panic, when you see a 15-20% price drop(or more). Never have unrealistic expectations about making 5x, 10x or 20x profits. Don't expect the BTC price to hit 200K, 500K or 1M USD. Only invest money that you can afford to lose.
Never trust anyone in the crypto space and always be cautious about potential scams. Install a decent anti-virus and try to maintain a safe browsing experience. This is all you need to know.

It's very simple what to do is that at first you need to create an exchange account, you could use Binance if they operate in your jurisdiction, after which get yourself verified, and go to p2p to fund your account after which buy bitcoin.

Next to do, you can download electrum wallet install in your personal computer or smartphone. Please note that it's important to have it downloaded on computer for easier experience and operations, after create your wallet and copy down your seed phrase in paper. Copy your address and withdraw your bitcoin to it.

DCA is known to be dollars cost average, it's another cool method to gradually accumulates bitcoin without the need to buy in bulk while the market declined, sometimes it makes you regret of buy huge, so it important to buy little by little if you are watching the market. If the market dropped a bit you can buy and if look again and it drops you keep buying till the market tends to bounce back very high.

You're eligible to invest on bitcoin anytime you're ready as long as you've the money to invest on but it's more advisable to invest at when you've built your emotions ready Incase there's a turn around of an exciting expectation.
Getting to the best investment scheme in the bitcoin market is to schedule on long term goal in other to have enough time to recover Incase of diminishing of your assets after huge accumulations and also you could have chances to reach your goal.
DCAs is a step by step processes of buying more values of bitcoin and why holding, you stand a huge chance of accumulating bigger values of bitcoins to increase your profitablities.



Saving your funds in the decentralized wallets where you're self custody of your bitcoin has been the best move and later on considering keeping your private keys securely on private mode where it's reachable to you only.
Also, keep your holding anonymous within the society so that you don't have yourself exposed to threats to thefts.

Don't delay better now if you are ready.
Getting the maximum depends on your target, the longer you hold it, the greater your maximum opportunity in bitcoin investment.
The method in DCA investment is very simple, you make regular purchases regardless of the price, be it weekly, fortnightly or monthly, whichever you are able to do.

Never store assets on the exchange as a third party it is always risky and just avoid it.

If you have been doing research for the last four months, you should be able to do some more research to find out what time is best for you to buy Bitcoin. For me, now isn't a bad time to get in even if the price is a bit high, I believe we are going to see something happen soon.

About the DCA, it's a method where you buy Bitcoin or any asset with a fixed percentage of your total capital and have a fixed price interval in mind and make a purchase again when the price falls to that point. For example, you buy Bitcoin at $60k with 10% of your capital, you decide you will buy after every $3k it drops, so you buy again with 10% when it drops to $57k, etc.

Self-custody and non-custodial are basically the same thing because in both of these, you are the only one having access to the assets and all the security phrases and stuff. What you wouldn't want to use is custodial wallets where a third-party will also have access to your funds because they will have access to your private keys and not you.

If you feel you have enough basic knowledge about bitcoin and are confident to invest in it. I think you should buy yourself some bitcoin right away to experience buying and selling as well as the feeling of owning bitcoin. Then, spend more time continuing to improve and add to your knowledge with your small experimental investment. I don't think it's a good thing for a newbie to rush to find and crave the best way to make a profit. If you want to make fast and high profits without much knowledge and experience, you will easily fall into the traps of scammers.

There is a huge gap between knowledge and reality, so it's better to slowly experience it yourself, instead of thinking that just having everyone's knowledge and advice is enough. 

I will only answer the first question. The number question is very obvious, we all know the answer.

The number 1 question is also very common, so I can answer it safely.
DCA will not guarantee you 100% profits, as it has a lot of bases first you need to be patience, you need to be in the market for the long term and since you are beginning, that is your challenge.
There's nothing bad about using DCA as a strategy, a lot of people have already proven it and made good profits, even me. You just need to sacrifice some amount of your money and time of waiting.

This is your own decision to make, nobody is going to tell you when to invest in Bitcoin, you are the only one who can analyze your real life situation and decide for yourself when it is good to buy bitcoin. That being said, we can talk about the strategy to use, and DCA is a very good strategy to implement, particularly for newbies, so you should consider it when you decide to buy bitcoin.
They both mean the same thing, it is safe to keep your coins in your non-custodial wallet, what is unsafe is custodial wallets, for example, exchange wallets.

DCA is pretty simple, just buy Bitcoin at a set amount (not in terms of Bitcoin, in your local currency instead) and just wait. At a minimum I'd suggest waiting a year but if you invested at a really bad time you'd sometimes have to wait for more than 2-3 years before actualy profiting. It's good, definitely a lot easier and comfortable to manage compared to shorting.

Here's a really informative thread that I still read every now and then. Long read though.
 
As for saving, I reckon it depends on how much you trust CEXs? I personally just use Electrum and save it on my spare laptop, which I don't use.

Self-custody and non-custodial are used interchangeably. What you want to avoid is custodial wallets where you do not control the private keys. Some people prefer to use exchanges as a custodial wallet. This is only fine for a short amount, once you have enough funds to withdraw to a personal wallet you should do so. If you are planning on saving a decent amount, having full control over your funds will minimize the risk of suffering losses

@OP actually self custody and non custodial are same, self custody means you're the one who control your own the wallet, while non custodial means it's not controlled by third party. Third party wallet can be said as a custodial wallet.

It's completely depend on how much you buy, if it's small amount, you better use the custodial ones since the exchange fee is quite high. You can move your coins to non custodial wallet if you can afford the fees.

If you have treasures, which is the case under discussion, would you want to be in charge of it and have full control of how it is managed or you will prefer someone else keep it for you even when it is possible it can be stolen from the person or by the person and all your treasures will be gone? This is the case with self-custodial or non-custodial wallets and custodial wallets. In essence, self-custodial wallets mean the same thing as non-custodial wallet which is the type of wallet that gives you full control of your assets example of which is Electrum (software wallet) and Trezor (Hardware wallet). In choosing wallet, never go for custodial wallets because it is risky as you are not in control of your assets.

Now, not later!

Here is a thread from  Wind_FURY  in the forum dedicated to mainly about bitcoin DCAing discussions, check in there, it's with multiple pages but am certain your time spent there   will be worth it and helpful. Buy the DIP, and HODL!

Self-custodial is the way to go mate... Which Bitcoin wallet to use

Best regards and welcome to the Bitcoin Forum.  Since you want to know the type of wallet to store your bitcoins in, I suggest you use a self-custodial wallet. Because access to this wallet will depend solely on you, it is not controlled by any third party.  You can enhance your security system. But never hold your bitcoins in an exchange wallet because exchange wallets are controlled by third parties and in this case if the exchange gets hacked then no one can provide security for your stored bitcoins.

Welcome to bitcointalk, Tatsuya!

You know that we've got different timelines and the very indicator of when you should invest in Bitcoin is when you are ready. And if your mindset is telling you to max out profit as much as you can, I am afraid that you'll not hit on that. Even we, old-time holders, don't hit that at most times to take the most profit during every cycle but one thing that I can guarantee you, is the longer you hold, the better state of the value your money is having because it appreciates despite its volatility.

Don't keep it on an exchange please, start with Electrum or Bitcoin Core. Always remember, "not your keys, not your coins". Exchanges don't give you that.

I think that this thread should be on the Beginners & Help and not on Speculation.

There is no specific time to invest into bitcoin, the actual is when you have extra funds to spare then you should simply just go and buy bitcoin. When you feel bitcoin is at a high Price and say your intended amount to invest is $1k you can actually buy with Maybe 70% of the money at a first buy and then keep the rest and later invest the rest when there is a dip, this will actually give you more coins to hold than buying at one go. But the risk is why waiting for a dip you would probably not witness any as the time goes on, but still you can buy at any price amd not necessarily a dip because bitcoin is assume to keep growing over the years and any price now is simply a dip.

As for the choice of custodianship it depends on you, do you want someone to hold your coins for you and if by any chance the exchange collapse your coins go down with it, or self custodianship that you are the one controlling the funds which it’s risk is when you don’t take care or store the keys to the wallet properly you can still simply lose it

It's up to you. It's always you who has to decide.
I can tell that in theory we should be in the first half of a bull run. I can tell that DCA is always a good idea. And I can tell to never invest more than you afford to lose.
Don't go for "max profit". Learn patience. Then, in many years from now, it should not matter you bought 100$ cheaper or not.


By the book, self custody is the best.
In reality there are far too many people who cannot take care of their money.

However, if you keep your money in others' custody, those others may get hacked (honeypot) or go bankrupt. Then you may lose. Even more, my experience has shown me that for example buying stuff for bitcoin tends to go better from your own wallet (than from an exchange, for example).
But for self custody you need to learn this or that. You may need to buy a hardware wallet. You may need to understand how to keep your wallet seed safely. You may face the reality that withdrawals from exchanges to your own wallet are rather expensive and tricky (some may try to make you withdraw wrapped Bitcoin or other altcoins with bitcoin in their name).

You do need to learning this or that.

Good luck!

The best time to invest in bitcoin is now, because tomorrow may be too late, even as the prices of bitcoin is at a discount rate right now, and if you want to get the best and fast profiting results from bitcoin, you have to buy it when the price is low and right now the price is low, so investing in this time sounds ok for me most especially, now that your plan is to hold your bitcoin for long term.

Dollar's cost averaging, is a system of buying bitcoin that could look less technical but to a newbie, I will advise you just concentrate on buying bitcoin at regular intervals depending on your cash flows.

well, Yes you have chosen the right thing, DCA is the best way to invest in Bitcoin as a new investor. The rule of DCA is that regardless of the market value, you have to invest a certain amount of money regularly in the weekly or monthly scholarship. And you must invest money that you can keep for a long time.

 In other words, you cannot rely on that invested money for any urgent need. And for this you should be prepared in advance, keep some cash fund with yourself for your emergency needs like health protection during emergency, family emergency, or any emergency situation. So that you don't have to rely on your invested money at that time.

Because of the volatility of Bitcoin it can go up or down at any time, so if you rely on holding Bitcoin in your emergency and if the value of Bitcoin is low at that time, you will lose a lot. So the money you may need at any time, that money is risky to invest in Bitcoin. So first you need to make sure that you can hold the money you are investing for at least 6 to 10 years without any problem, and that is the money you need to continue investing in Bitcoin DCA on a weekly or monthly basis.

DCA strategy avoids the ups and downs of the market and gives the best return on average in the long run. You have to invest whatever the market price is, ie if the current price of bitcoin is 30k then invest even if the current price of bitcoin is 70k. (just for understanding) Investing small amount regularly through DCA method will give you more profit than investing big amount at once. You should try to invest the same amount regularly, and buy as much as you can when the market price is too high. Because if we can buy at a lower price at the time of purchase then we will get more profit after the pump.

But right now your aim should not be to take profit but your aim should be to buy bitcoin regularly. Convert Bitcoin investment into a normal investment, consider it a part of your life, a part of your way out of darkness, and thus continue your investment for a long time, never look at the price of Bitcoin, if the price drops too much, you will get it. Buy more and think of it as another opportunity to grow your investment portfolio because Bitcoin is always recovering, no matter how much it dumps it. Only from the middle you increase your portfolio more and more by buying more and more, you get more returns after the pump.

So keep investing in DCA, DCA strategy always gives good results in long term, because it builds value over time of investment. DCA is a disciplined investment method, which helps investors to develop regular savings and investment habits and it provides high returns over a long period of time. But you should plan to hold for at least 6 to 10 years.
First of all I want to say that between Self-custody and non-custodial, Self-custody will always be ahead. Self-Custody is full control of security with no compromises. In self-custody you have full control of your bitcoin assets, with no third-party intervention, and no risk of any kind.

Non-custodial wallets offer automatic backup and recovery options, which does not protect you from the risk of being forgotten or lost. This type of management requires you to rely on the wallet provider, which can be a major risk to the security of your assets. Essentially, non-custodial wallets are risky, as your assets will not be under your complete control.

Best of all, Self-custody ensures maximum control and security over your assets, and the private key of this wallet is only under your control, so you never have to rely on third parties in any way. Moreover, the experts always choose and suggest Self-Custody.

So you choose Self-custody for maximum security of your assets.

Self-Custody is always right. Just say yes to Self-Custody and Say no to Non-custodial.


And yes, never share about your keys with others, keep your keys as private as possible, so you and your assets are always safe, and never tell anyone about your holdings. The more secret they are, the safer they are.

Hello, I am a new member in this forum. I need some help from you guys, basically I want to start investing in bitcoin, I just started researching cryptocurrency and bitcoin for 4 months, I researched the pros and cons of bitcoin. And after doing a lot of research on bitcoin holdings, I found out that long term holdings can yield huge profits from bitcoins. I read the history of Bitcoin, and learned about the potential of Bitcoin.

After all I know enough about Bitcoin I decide to invest in Bitcoin.

But I have two questions for you, which I would really appreciate and be grateful if you could know:

1) When should I invest in Bitcoin? And how can you get the most out of investing? I got some ideas about DCA, but don't know anything about DCA, so please tell me how to invest in Bitcoin to get the most profit and is DCA method really good?

2) How do I save my investing? What would be the safest way to store my assets? Self-Custody or Non-custodial?