Bitcoin for Common Consumers with CryptoFinally

Buying Bitcoin & Best Crypto Wallets: BTC for Beginners

By CryptoFinally | CryptoFinally | 23 Aug 2020


If you want to keep your digital currency safe, you need a wallet that allows you to hold your own private keys.

Bitcoin in more ways than one provide use case and utility against fiat currencies. *Cough* Limited supply *Cough* The use of Bitcoin has shown a lot of people an opportunity to invest, though with any financial investment comes risk.

Make sure you know your risk tolerance and what you are willing to lose before investing in any digital currency.

As a beginner, you might not know which wallet would work properly for you. We show you some of the best & simplest bitcoin wallets that would work well for beginners in the crypto space.

Watch our full Bitcoin For Beginners Livestream Here: Buying Bitcoin & Best Crypto Wallets: Bitcoin for Beginners - CryptoFinally Group Chat

https://www.youtube.com/watch?v=_n9AMYtxLHE

What is Coinbase?

You can use Coinbase to sell, buy, and store your cryptocurrencies. You could easily connect to an account in any of the U.S. banks and transfer dollars out and in from your wallet. You can also make use of your money to purchase cryptocurrencies and bitcoin too.

This works very well, especially for beginners. This is because it is easy to use. It is simplified & with Coinbase, you can store more than twenty cryptocurrencies and add stable coins that accrue interest.

While making use of Coinbase, keep your eyes out for costs and fees. Apart from the flat transaction fees, there is a charge Coinbase has when you convert between more than one currency. These fees could accumulate with haste. Coinbase, being a custodial wallet has also experienced issues in the past that prevented its users from selling and buying. - More advanced Bitcoiners should be looking for wallets that allow them to store their own private keys / seed phrase (Trust Wallet & Atomic Wallet are good options)

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How can I select a Bitcoin Wallet?

The best wallet you should use is one that works well and one you are comfortable with.Β 

Advanced users: Hardware wallets have the best form of security taking your coins offline entirely while still providing an easy to use interface. Ledger and Trezor are good choices for people like these.

Beginners: If you are in this group, you should get an easy to use wallet that has very low transaction fees. Custodial wallets like Coinbase & CashApp simplify the process for brand new beginners,

Crypto enthusiasts: If you're looking for a mobile or desktop wallet check out non custodial options like Trust Wallet, Edge Wallet, Atomic Wallet or Exodus.

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