Gutch220
Posts: 1
Joined: Tue Feb 09, 2021 2:50 am

New to cryptocurrency. So many questions. Need Help

Tue Feb 09, 2021 3:30 am

So I've been looking into investing into Bitcoin and it seems like the more I look into it, the more I find out about things I either do not know, or have questions on top of questions about.

First, I knew there was some kind of wallet I would need to hold Bitcoin. I wanted a wallet on my desktop PD (Windows 10) as well as on my phone as an app. Can I have the same wallet on two different devices like this? I didn't see a desktop version of the wallet on this website, only a previous version for desktops but I'm not sure if this is up-to-date & safe enough since it's an older version. Then I read about cold storage wallets (like a Trezor). These are probably safer, but are they practical and user-friendly in terms of using along side the online wallet. Is the Trezor a separate wallet or is it made to work with other wallets like the app? If it is only to be used by itself, what website/app should I use as an interface?
Then I was hearing people talk about a wallet address and seeds. I'm guessing these would be two different things. Where/when do I use each? Do I create the seed? Not sure where this comes into play. Can I make the wallet address the same on all devices, or is the address meant to change periodically for security? Then I read about keys AND backing up a wallet. So I'm juggling seeds addresses, keys, and backing things up. :shock:

I am mainly interested in investing in BTC, and not so much using it for everyday spending. It's a lot of money so I want to make sure I have knowledge. The last thing I'd want is to screw something up with permanent consequences. Perhaps a step-by-step guide or something similar would help insure I don't miss anything, or place currency into something I cannot retrieve.

I appreciate others helping me out and I'm sure I'll have more questions pop-up as I think of them. If you can post link to recommended apps/sites/hardware, etc this would help
Note- I don't know ANYBODY who does this so I can't ask questions or get guidance. I'm researching everything on my own, and it's very confusing at time because I don't want to make a mistake that costs me thousands of dollars, or accidentally transfer coins to some village in China running a scam.
Any and all help is appreciated.

Thanks

User avatar
CryptoManiaks
Posts: 6
Joined: Tue Mar 30, 2021 5:56 pm

Re: New to cryptocurrency. So many questions. Need Help

Sat Jul 31, 2021 9:29 pm

Hello,

As I see there are a lot of questions that need answers so the best way to get easier and clear some questions (hopefully) is for you to visit our crypto educational platform - Cryptomaniaks - and check the "Education" section. Of course, if you are interested in investing, gambling or general info feel free to check the rest of the platform as well.

Wish you good luck and invest smartly :!:
We are a Cryptocurrency learning platform & private community for investors of all experience levels. The knowledge you need to earn the rewards you want! We educate through simplicity & entertainment.

Return to “Beginners & Help”

Who is online

Users browsing this forum: No registered users and 7 guests