Bitcoin is an experiment! We never tried something like this before.
And if anyone say to you that there is no chance that it goes to zero, they are lying to you.
There is some simple rules and steps, on bitcoin that most people don't realize:
- Don't spend more money that you can afford to loose.
- Buy every time you can with the previous condition in mind. You should use a method like daily costing average (DCA) to hedge the price.
- Put every bitcoin in cold storage. Use a TREZOR wallet for safety.
There is also cold storage wallets solutions in software like Armory wallet but this one needs two different computers. One for transaction generation and broadcasting (online machine) and a signer (a offline machine)
Electrum Wallet also allow this.
And if fact you don't really need two different machines. You can use the same machine and two different USB sticks. One as signer and other as tx generator/broadcaster.
Of course this gives you less security than a true air-gaped machine.
If you don't know what you are doing just use a hardware wallet like TREZOR.
But learning about cold storage and create a few machines and setups just for testing small amounts are a cool way to learn about bitcoin.
Follow this rules
1. Ignore the FUD.
2. HODL on every correction and buy more on corrections/or dips.
3. Use DCA to hedge the price.
4. Learn about bitcoin and why is different from any cryptocurrency.
And you most likely will reach the top of the S curve:
More on wallets and security
https://en.bitcoin.it/wiki/Category:Security
https://en.bitcoin.it/wiki/Securing_your_wallet
https://en.bitcoin.it/wiki/Cold_storage
https://en.bitcoin.it/wiki/Private_key
https://en.bitcoin.it/wiki/Deterministic_wallet
Note: If you loose your private key or your seed key, you can't sign any transactions and your bitcoins are lost forever. Managing private keys in bitcoin is a problem because some people loose them. And there is only 21M bitcoins available, you can't afford to loose something so scarce.
More about bitcoin
Andreas M. Antonopoulos Youtube
Follow Andreas on Twitter: https://twitter.com/aantonop
Follow Andreas on Facebook: https://facebook.com/AndreasMAntonopoulos
Mastering Bitcoin The definitive technical guide to Bitcoin and Open Blockchains: https://BitcoinBook.info
The Internet of Money Vol 1 & 2, A collection of Andreas' talks explaining why bitcoin and open blockchains matter, for a general audience: https://TheInternetOfMoney.info
And please run the software!
If you don't run the software you will never understand the purpose of bitcoin.
Run a bitcoin full node a lightning full node NOW!!!
