Quick History:
I dismissed crypto currencies as a scam for nearly 10 years.
Then about 2 years ago I decided to buy a small amount, which I new would force me to get interested and learn more.
Since then I've watched loads of youtube videos, read online articles, but once I read the book "The Bitcoin Standard" I was absolutely convinced that bitcoin and ONLY bitcoin would and should be a bigger part of my portfolio.
I am absolutely a believer in using bitcoin as a hedge against inflation / currency debasement by money printing politicians.
Purchases:
I have been slowing buying more bitcoin via my Coinbase and Kraken accounts. My intention is to hold long-term 3-10 years, maybe longer.
Protection?
I now realize that one of the risks in all of this is the fact that my bitcoin resides in these marketplaces which could get compromised by many sources (governments, hackers, etc.)
Cold Storage:
To protect my investment it is now very clear that I need to move my bitcoin into one of these self custody wallets.
(forgive me if I get some of the terms wrong)
This is where I don't fully trust the information I read/watch online. Because the space is littered with affiliate marketers I don't fully trust anybody's recommendation. How could I?
Storage Advice?
I dismissed crypto currencies as a scam for nearly 10 years.
Then about 2 years ago I decided to buy a small amount, which I new would force me to get interested and learn more.
Since then I've watched loads of youtube videos, read online articles, but once I read the book "The Bitcoin Standard" I was absolutely convinced that bitcoin and ONLY bitcoin would and should be a bigger part of my portfolio.
I am absolutely a believer in using bitcoin as a hedge against inflation / currency debasement by money printing politicians.
Purchases:
I have been slowing buying more bitcoin via my Coinbase and Kraken accounts. My intention is to hold long-term 3-10 years, maybe longer.
Protection?
I now realize that one of the risks in all of this is the fact that my bitcoin resides in these marketplaces which could get compromised by many sources (governments, hackers, etc.)
Cold Storage:
To protect my investment it is now very clear that I need to move my bitcoin into one of these self custody wallets.
(forgive me if I get some of the terms wrong)
This is where I don't fully trust the information I read/watch online. Because the space is littered with affiliate marketers I don't fully trust anybody's recommendation. How could I?
Storage Advice?
- What are you long-term holders of bitcoin doing to safely hold on to your investment?
- What wallets do you use and recommend?
- Do I still have to buy through an exchange even if I have a wallet?
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