My N°1 advice for beginners is to have a plan to follow.
[New video - 3 min] 🎥
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Why? Everyone is different and will enter into bitcoin differently ! Thread ⬇️
2/ I strongly believe a plan can help new bitcoiner enter safely the space. It will help them have a path to follow based on their personality, skills and objectives. Everyone will use different services, wallets and investment strategies.
In the video we ask 3 questions:
3/ “Why are you in bitcoin?”
- Long-term saving
- Get rich quick
- Be anonymous online
- Escape authoritarian regimes
- Exit a fiat currency
- Test a new tech
- etc ...
See it’s not that easy, and based on this answer, you will buy and store your bitcoin differently.
4/ How will you buy it ?
All in or DCA ?
We’ve seen DCA in previous video () @SwanBitcoin
it works great for people with a low income, few savings and risk averse but what if you have a lot of money or your local currency is being destroyed ? 🤔
5/ Where will you buy it ?
KYC Exchanges, ATM, local bitcoin, DCA services, mobile app ?
Lots of options with various trades off on fees, privacy, UX, security and accessibility.
noKYConly.com -> @BitcoinQ_A
6/ Where will you store them ?
- Mobile wallet
- Cold storage
- Cold + Passphrase
- Multi sig
Newcomers need to learn about those complex security schemes. It may sound simple for us. But explain that to your non-tech family member. You will lose them at passphrase or seed ...
7/ People have been learning about bitcoin for decades and that will continue. After all, bitcoin is a black hole so no one can escape it.
But for those who are on the verge of falling down the #bitcoins hole, taking 5 min to sit down and plan can avoid lots of damage 💩🪙
8/ Anyway, it was just a quick short video while I’m editing the big boy: what lvl of security do we need. Stay tuned. I’m making a lot of progress on the editing / production aspect of the project, so that’s good. Hope you enjoy the light and quality of this one :)
9/ our mission is to teach and inform the next generation about the importance of privacy, sound money and sovereignty. We focus on bitcoin and bitcoin only. If you believe in our vision then please follow us here and help us spread our content.
Thanks for your time. Rogzy / End
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