/r/BitcoinBeginners

Photograph via snooOG

Bitcoin Beginners is a subreddit for new users to ask Bitcoin related questions.

Do not respond to strangers direct messaging you, as over 99% of these people are Scammers.

Bitcoin for Beginners is a subreddit for new users to ask Bitcoin related questions. Do not respond to strangers direct messaging you, as over 99% of these people are Scammers.

This subreddit allows open discussion where peer review occurs.

/r/BitcoinBeginners is not for posting new websites, memes, faucets, affiliate links, news, concern trolling, blog articles, or promoting altcoins and ICOs. Bitcoin related Questions only. Altcoin questions and discussion are not allowed.

Only specific/technical questions and answers that are relevant to beginners, no debating and opinions

IF YOU SEE SPAM, USE REPORT LINK INSTEAD OF JUST DOWNVOTING

No url shorteners (auto spam)

Frequent Questions



For discussing other cryptocurrencies :

/r/crypto_currency/


Misc:

/r/bitcoinpodcast

/r/bitcointrading

/r/LivingOnBitcoin

/r/Jobs4Bitcoins

/r/BitMarket

/r/token

/r/bitcoinbetting

/r/HowToBuyBitcoin

/r/bitcoinhardware

/r/bitcoinguide

/r/bitcointutorial



Begging:

/r/bitcoinbums



Exchanges:

/r/bitstamp

/r/kraken2

/r/CoinBase2



trading:

/r/bitcointrading

/r/BitcoinBeginners

1,157,463 Subscribers

2

My journey begins

Finally, after hearing bullshit from friends telling me I should not risk my money and after reading alot of books and this sub I’m taking the step. I would like some advice tho; Ive chosen Kraken as my exchange and my plan is DCA 5€ a day, keeping it like 4 of 5 years. Buying more when is low. Do u think is a good strategy or should I do a larger initial investment? Bitcoin will be like 20% of my portfolio , I have the rest on index founds. Thank you guys for all the información and help on this sub. 🚀

3 Comments
2025/02/01
07:01 UTC

2

Does Lightning or L-BTC Have Something Like a Seed Phrase?

Using Aqua wallet on my phone to transact in and store some sats in Lightning, L-BTC for cheap off chain transaction. I want know what happens if I

* lose my phone

* aqua goes bankrupt

Is there any way to recover those coins in Lightning or L-BTC? Or is it an acceptable risk I have to take?

4 Comments
2025/02/01
05:44 UTC

0

What I ma missing out using Trezor on iOS?

Not sure if this is right subreddit but I'm deep into Apple ecosystem. What are disadvantage of using Trezor on iOS? and should I return it to buy Jade? - which seems more ios friendly

4 Comments
2025/02/01
05:17 UTC

18

What are the top cold wallets?

Based on a variety of factors. Considering ease of use, portability, and security.

What is the best cold wallet? Are any of these compatible with a phone?

I have assets that I want to eventually transfer to a cold wallet.

What is the most cost effective way (least fees) to transfer?

41 Comments
2025/02/01
03:41 UTC

2

Best YouTube bitcoin info ?

9 Comments
2025/02/01
03:19 UTC

1

How mainstream is liquid bitcoin?

As the title says. Is there a large user pool, like a few percent of total crypto users? Are there transactions happening on the network? Ny place where I can see the activities like mempool for on chain transactions?

6 Comments
2025/02/01
02:40 UTC

6

Is NDAX a trustworthy platform?

Let's say I want to buy $5000 worth of BTC. Can I trust NDAX with my money?

3 Comments
2025/02/01
01:51 UTC

2

Is there risk of Wesley backup files for HW wallet?

If you use an HW, and make a wallet of it in Sparrow (connecting to HW device, not generating seed in Sparrow), then if you make a wallet backup file or export, what do those contain? Just the xpub?

Can you please confirm the seeds are still safe on HW and no risk of them being in those backup/export files of the wallet.

3 Comments
2025/01/31
23:27 UTC

1

Dca in canada

I want to start putting some savings in bitcoin so i thought doing dca. i'm not claiming to be rich, ill be depositing 100-400 cad monthly. I'm wondering if you guys know of platforms with better fees available in canada.

3 Comments
2025/01/31
22:16 UTC

1

Transfer BTC from Coinbase exchange to CB wallet

So I’ve called CB but don’t sound like they have a clue!

I’m trying to move BTC from exchange to wallet.

Wallet is connected to my exchange account but when I click to send, it asks which network to send on. BTC is greyed out and won’t let me select it.

I went on my wallet app to see if I could see anything and went to settings to try add network, which it won’t let me find BTC!

I did a small amount test by sending from exchange to wallet but by putting the wallet address in instead and it sent no problem. I can now see that small amount in my wallet.

Anybody know why I can’t simply transfer to my wallet by clicking on my wallet within the exchange, when it’s connected?

2 Comments
2025/01/31
21:49 UTC

1

Self-sending on Tangem

I know Tangem isn't considered the best cold wallet, but it's what I have gone for as a beginner. I understand UTXO management isn't straightforward as you cannot generate multiple receiving addresses.

However, can I send my BTC balance FROM my Tangem wallet TO the same Tangem wallet (i.e., set the receive address as the same as the one I am sending from), i.e., sending it to myself? Will this work, and if so will this consolidate all UTXOs into a single one?

1 Comment
2025/01/31
20:03 UTC

2

Exchange vs Hot Wallet (Lightning)

I know cold storage is best and I have that, but for using the Lightning chain does it really matter whether it’s a hot wallet or an exchange? What hot wallets are recommended? Any experience using Strike for Lightning?

2 Comments
2025/01/31
15:02 UTC

10

Does it actually matter if I lose my cold wallet?

Does it matter if I lose my cold wallet, if I still have those 12 words, shouldn't I be able to connect that wallet to the lost one?

13 Comments
2025/01/31
11:17 UTC

0

ETF

Can someone explain me what's Bitcoin ETF in simple way ?

5 Comments
2025/01/31
08:13 UTC

30

Getting to know about Crypto mining

I have an empty shack and enough money for setting up a fully functional rig of 5 x Antminer s19 (90Th/s)

I have no electricity costs because of solar and can add more rigs if required. Should I go for it? Is it worth it to mine crypto in 2025?

Thanks in advance!!

13 Comments
2025/01/31
07:46 UTC

1

Invalid BTC Address

Is there any way to find a correct BTC address? like a Google to find the correct BTC address- I'm probably off by 1 number or letter. When I try to make a transfer to the BTC wallet starting with bc1q, it's telling me that it's invalid.

Here's my situation: I can't copy and paste a BTC address due to unique circumstance!! The only way I can transfer the BTC address is to visually memorize 7 numbers/letters at time. In spite of checking many times my eyes must be deceiving me.

Im sure the first 8 digits and last 8 digits are correct though....

7 Comments
2025/01/31
03:14 UTC

1

Amount of Bitcoin on exchanges?

Where can we find a timeline chart of the amount of Bitcoin left on exchanges? Either by individual exchanges or totals.

6 Comments
2025/01/30
21:01 UTC

2

I have a strange wallet backup files from 2017

Hi all! I think I have found an old wallet backup I made back in 2017.

It is a file that looks like this. The mbhd part leads me to think that it might be a Multi Bit HD wallet, but that seems to be legacy right now.

mbhd-aaxxxxxx-xxxxxxxx-xxxxxxx-xxxxxx-xxxxx-20170601154037.zip.aes

Could I even recover this wallet with only this file? Or do I also need a password / seed phrase (which I've probably lost). Thanks!

3 Comments
2025/01/30
19:53 UTC

20

Cheapest way to transfer crypto from Kraken to cold wallet

Hello! I am new to the whole crypto world and I need some guidance. Educate me please on what would be the cheapest way to transfer my crypto from Kraken (Kraken Pro) to a cold wallet? I am getting conflicting information from YouTube and other sources so any clarification is appreciated. Thanks!

28 Comments
2025/01/30
19:48 UTC

6

New to investing. Help!

Hi! I’m a 35 F. We don’t have any debt besides our mortgage. 4 children. Both cars are paid off. And about 10k in emergency savings.

We would like to start investing. We have an IRA and a 401k but honestly I don’t even know how it all works. My brother is a financial planner and is going to help us with some stocks.

I would like to buy about $1000 of bitcoin and just sit on it. Is that silly? I’m just in the beginning stages of learning and researching about it. Is there a certain app/place you recommend? I’m reading things about having a “cold wallet” or something and transferring it there. Can someone explain it to me like I’m 5. 😅 Also platforms that don’t charge a lot of fees?

I’m smart and know a lot about a lot of things and am a quick learner but know nothing about investing and I hate that feeling. I feel behind and like I’m late to the game and we should have been doing more in our 20’s. If anyone has any links to good resources to learn that would be great to.

22 Comments
2025/01/30
19:25 UTC

0

Btc crypto

How do u know what the price is to invest in usd to trade for what the market of btc is going now

36 Comments
2025/01/30
18:57 UTC

50

Help with Initial Investment

I want to invest $10,000 in bitcoin. I have opened a Coinbase account and have learned that the advanced trade tab is the way to go to avoid higher fees. Pardon my ignorance, but beyond that, I’m clueless. What does the advanced mode do, and why are the trading prices different than on non advanced? Any suggestions appreciated.

26 Comments
2025/01/30
17:50 UTC

0

Which exchange is the best for low fees?

I'm looking to buy a bunch of BTC and looking for low fees. I'm located in Canada and my default exchange is Shakepay, but I want to explore if other exchanges have better fees. Here's my setup:

  • I rarely buy large amounts of BTC, and I hodl (never sell). I'm not a high-activity or high-volume trader (my trades are in the thousands of CAD, not a lot for BTC trades, maybe once a year).

  • I have a wallet app I use for personal custody (Nunchuk), so I don't leave my coins on the exchange.

  • I don't want to "play the market", I just want to buy and hold.

Which exchange is the best one for me, in terms of minimizing how much it will cost to buy BTC and to transfer it to my custody wallet?

10 Comments
2025/01/30
16:36 UTC

0

Destructive Quantum mining

Here's a highly hypothetical challenge to bitcoin mining, that the more tech savvy part of this community may be able to answer

Imagine that some vile opponent of bitcoin would get hold of a very, very powerful Asic mining rig, as in a million times faster than the entire mining network today.

Without hacking or attacking the algorithm, but merely mining all the blocks for one session very fast, and then ceasing to mine any further, after the difficulty is adjusted to extremely difficult.

With this new setting of difficulty, the ordinary, existing minerpools will take forever to find the next block and therefore the transactions would cease to be conducted, right?

What would the solution to said (very theoretical, I know) problem be?

15 Comments
2025/01/30
13:05 UTC

2

Where to buy Bitcoin without too much BS!

Hello, I'm from an African country and recently PayPal as been having many problems with your money being frozen or your account being limited, so an alternative I found to make online purchases is through crypto. I have bought Bitcoin before on an exchange called Volet.com, but I've tried doing so recently and they asked me for a document I've never even heard of in my country. Tried other exchanges such as binance and coinbase and found the same problem.

Can someone recommend me a way of buying crypto without so much policies or just an exchange that only requires face and name verification?

37 Comments
2025/01/30
10:54 UTC

2

Blockstream Jade's SeedQR: Will anybody with access to the QR code have access to my funds?

Not sure I am understanding this 100%, but if I am using the Jade in airgapped mode and am basically just handling QR codes, does that mean that anybody getting access to the QR code will then have access to my funds, as the QR code is basically my full 24 word seed phrase?

Or am I getting something not right and there is some other security mechanism in place here?

14 Comments
2025/01/30
10:45 UTC

1

Is there a step by step image guide to transfer Crypto.com BTC to Strike? I’m afraid I might be using the wrong address

Just looking to confirm where i get the wallet address in strike and how that is copied to crypto.com external wallet

1 Comment
2025/01/30
07:34 UTC

3

Is storing BTC on lightning network as safe as any other hotwallet?

Or is it less safe?

18 Comments
2025/01/30
03:02 UTC

6

Unable to sign in Sparrow on Mac

Hey everyone! Hoping for a little help with my setup

I have a single sig Coldcard Mk4 wallet that I have been using with Sparrow on Windows 11. I recently got a Macbook and I wanted to have access to my funds on the go. I downloaded Sparrow wallet on the Mac and exported my wallet (as a Sparrow wallet export) from Sparrow running on the windows machine. I imported the wallet onto the mac and all my UTXOs/Transactions are showing. Good so far...

When I go to send out a transaction on the Macbook, everything seems to be working fine at first. I save the transaction to my SD card. Remove and insert into the CC. Sign the transaction on the CC. Remove the SD and insert it back into my Mac. And here is the problem...

When I go to load the transaction on the Mac to sign, there is no signed psbt. It does show the final.txn file and original psbt file but there is no signed pbst. Any idea why this could be happening and how to fix?

Everything works fine using the same SD using my original Windows 11 Sparrow Wallet.

I have uninstalled and reinstalled Sparrow multiple times and nothing seems to work. Please help! Thank you so much!

4 Comments
2025/01/30
02:46 UTC

34

Looking to invest in a cold wallet

I'm looking at getting a trezor.. was going to get the latest model but it seems from my research it may be a waste, still uncertain. If idca weekly and plan to HODL long term. Would the 3 suffice? Or are there better wallets available that would better suit my needs? I only need it for Bitcoin. User friendly would be ideal😝 but safety is number one, ideally... If there's better options I will just need to spend the time to learn how to use them Thanks for any tips and suggestions :)

33 Comments
2025/01/30
00:41 UTC

Back To Top