Oddbean new post about login | logout If someone non-technical asked you how to buy bitcoin and self-custody it, what resources and devices would you point them to first? -What guides? -Where to buy? -How to store it?
Saylor intro interview. Buy on river or cash app. Withdrawal to hww (foundation/trezor/jade). If big money then unchained.
https://www.ministryofnodes.com.au/sparrow-wallet-101-self-custody-your-bitcoin https://image.nostr.build/35ae1aa9aa71cd174c71140292be357dd7a339ae323444d99059096be56ea9e0.jpg
" What about my shitcoins? Dump them. " great advice
@BTCsessions how to self custody a step by step guide
Swan.
works outside USA🇺🇸🤔?
I'd recommend Strike or River, send them to @BTCsessions sooner rather than later, and recommend Coldcard/Sparrow to a cold wallet storage/interface. If you can start understanding UTXO management early you will be way ahead of the game.
Why would you recommend KYC?
I used to explain to people (very patiently) how to set up and use their ledger wallets, but considering their new recovery service, I don't recommend them anymore. Now I tell them to use cash app until they figure out how to use a cold card or something like that.
cash App works outside USA🇺🇸🤔?
I dont think they do
Bitcoin University https://youtu.be/IQHLpdWvyK4?si=A1FwZDJJpVdWboLQ
maybe buy #bitcoin, rodent
Mr. @BTCsessions and chill.
I think Cashapp is a great gateway for normies to start as far as buying, with perhaps the @Foundation for self custody. @BTCsessions for guides 🤙🏻
cash app works outside USA🇺🇸🤔?
Hmmm my guess is probably not…
-What guides? I'd try to be more of a guide to them than any link I can givs them, but I'd mainly want to give them some resources to help them learn about the concept of "open source" -Where to buy? Through me or others who have it, avoiding any governmental KYC shit -How to store it? I might buy them a trezor, recommend them to buy a trezor, or recommend them to use another cold storage solution with an airgapped Linux computer or something. Sinfully, in most cases, I actually recommend the least sus-looking open-source wallets for their phone, because that's what works in most cases, at least temporarily
Had a typo in there 🤷♂️
Andreas Antonopoulos’ YouTube channel.
Get a lightning address so i can zap you
Kay Why See Free? Some options Derek listed awhile back nostr:note1kshfzqlcvwdwmt3k92vr9cahmh29dmuq7fncax2zdckfz65576eqtte0l6
Search Up @BitcoinUniversity and Bitcoin University on YouTube
Azteco to buy, K4tan You Tube to set up a node, Coldcard website for hardware signer, Sparrow Wallet website for setting up a desktop wallet.
I would just point them to @BitBox They got it all! The best HW wallet, guides. The simplest HW wallet I ever used. They also gonna add non-custodial Lightning support. You can buy BTC directly in their BitBox App. No brainer.
As for the backup - https://tinyseed.io Oh and Tangem HW cards can be used without the mnemonic seed at all. Looks like the easiest for the newbies! https://tangem.com/en/
1. Bitcoin Standard book 2. Bitkipi app or Ralai 3. It could store it on the app's wallet.. then they will have to learn differences of every wallet and choosing which is for them
Simple im in America Buy = cashapp (hodlhodl .com non kyc) Self custody = bluewallet Self custody hardware = jade, bitbox All of Andreas Antonopoulos videos to learn the significance of bitcoin Btc Session for HOW to use btc wallets and hardware
Ohh and i could be the guide as well
ATM deposited on Munn while they learn and understand the tradeoffs of doxxing yourself and stack to the gov. (KYC) If the are ok with KYC -> Strike, but instead of buying sats on the platform, I would have them pay a LN invoice to themselves using Munn or Phoenix and then sending it to cold storage in Sparrow or Nunchuk If they want to avoid KYC then either continue with ATMs that only require phone number (use text verified for burner number) or use Strike + Robosats for a light KYC option but greater plausible deniability. Coldcards and Tapsigners are great BTC sessions for the hand holding if needed
Study Bitcoin: Andreas Antonopoulos Buy Bitcoin: @Swan Store Bitcoin: @Foundation
1. Me. I will be the guide 2. River or Swan 3. Hard/cold storage like Trezor or Coldcard
Trezor T was hacked by Unciphered 4 months ago. Source: https://youtu.be/50eiA-75NMY?feature=shared ColdCard isn't FOSS and I don't like what happened there: 1. Coldcard was FOSS and bootstrapped - nvk and peter denied interested VC investors. 2. Foundation cloned code, announced slightly different hardware, raised money from those same VCs pre-product. 3. Coldcard changed software license to allow everything but that. No longer FOSS. Source: https://twitter.com/ODELL/status/1651220101721358336 in FOSS, the "Free" here refers to the freedom to run, study, redistribute, and modify the software.
Assuming you know this person personally What guides? For a non-technology person, I would personally show them the ropes. This allows for Q&A, best practices, etc. I lean toward learn by doing, so I taught myself the basics. But I understand not everyone likes that risk when it comes to money. Where to buy? Dependent on what jurisdiction this person lives, but I found using an app like strike or cash app to be most familiar and easy to use How to store? I would recommend to start with something like exodus, or similar non-custodial wallet. Once this person experiments with a few transactions, dive in to cold storage through hardware wallets. Having used several, tezor to me is the best due to cast and ease of use. Knowing the distinction between hot and cold wallets is crucial imo Can’t wait to hear what others say!
@BTCsessions Coldcard + sparrow guide. For non-technical cash app is probably easiest. Looking forward to what Bitkey offers https://bitcoin-intro.com
Funny I just answered this on another post for someone... I also include how I onboard lightning self custody towards the end.. nostr:nevent1qqs9y08ft0f8kcth8j407x82t5q4n3j7jc07ts6f99jup53uaqyqqxqpyfmhxw309acx7upddaejuarpd9krve3cvsejuarn9ehx2ap6xsurgwp0qgs9qp8arq7vj822u5hqvayd5twdr7vjnvxej2j8z6w3en8tcwzw0kgrqsqqqqqp3tm8tj
Note, for lightning orange pilling I have a 70% success rate on lightsats.com
Eager to see what professional guide you find. My gist steps are DCA on River.com, use a Trezor with seed phrase securely stored in two offline locations, and set up auto withdrawals. Use Wallet of Satoshi for less than $300 of assets.
I definitely point them to @BTCsessions and all of his videos. I also wrote my own guide to this but I’ll probably need to update it for the new bull cycle. But having a guide in a FAQ form that is ready to go makes this much easier.
In Canada we just tell them to sign up for Bull Bitcoin and get to the post office.
Unchained
https://bitcoin-intro.com/ + @BTCsessions = Gold I mean #bitcoin
I'm from czech republic, so probably guides: https://www.bitperia.cz has some guid for beginers, also bitcoinovej kanal on youtube where to buy: Probably Vexl app, or bitcoinmat or geco (czech network of newstands. They accept cash for one bitcoin exchange. No KYC. Store: Dont know how much they want buy for small amount some sw wallet, for anything else trezor.
Download Bitcoin Core, generate a receive address with label, scan QR to send from CashApp/Strike. There are additional best practices that should be implemented in time but this is the foundation of first class bitcoin citizenry. No need to introduce unneeded software or steps for their first small utxo.
Cashapp and then the easiest hardware wallet option depending on the use case. The number 1 issue bitcoin has is the inability to initiate a clawback if needed. Maybe bitcoiners can go and copy another feature from Chia to help alleviate those concerns.
Hodlhodl.com Use samourai wallet or muun wallet Check your financial privilege
Just have them download Samurai and then gift them sats Done
This is not a easy answer As ON-ramping with FIAT is country specific now nobody will document all local solutions here for privacy reasons. https://bitcoin-intro.com/ - looks fair Key is to use basic mainnet wallet only as first time self-custody user - Bluewallet on android + IOS best to start. GetAbly LN-Wallet and Sideswap LQ-Wallet. Green-Wallet with JADE next to learn
-What guides? BTCSession Youtube -Where to buy? Big local exchanges -How to store it? Trezor 3 at the start and move to more complicated devices.
I would tell them to buy a Ledger and buy it direct from them or set up an account on Coinbase and transfer the coin to their ledger. The guide would be following the instructions ledger provides.
Coldcard or don't bother. Legdger is the same as leaving it on a platform.
Andreas videos on YouTube. He has amazing educational content https://youtube.com/@aantonop?si=GpiPchIIGDAMuxjW
Zeus wallet connected with lndhub to my node + https://lnp2pbot.com/
I send them here. 😎🤙 https://thebullishbitcoiner.com/stacksats/
Buy @CashApp up to $100 send to Breez Lightning (first taste of self-custody) up to $500 send to Blue Wallet (first taste of self-custody layer 1) up to 1k send to Cold Storage of their choice, hopefully they do some good reading/studying along the way 🥰
Michael Saylor Alex Fridman podcast. Then I’d sell them my #btc so I could buy more
I’d point them to River and Ledger. Doesn’t get much easier than that.
non-technical? Means they don't know how to use a computer or install and configure software. That is a tough one.
-What guides?
I'd say find a friend or family member who you trust and knows about bitcoin and their way around a computer.
Find a trusted tutor to teach you the ins and outs of Bitcoin.
-Where to buy?
Always without exception no-kyc.
Bisq.Network - complicated P2P trading not for beginners.
Robosats.com - very simple P2P trading using lightning and Tor Browser
Need a dedicated bank account for fiat/BTC transactions only. Bank will freeze your account if they discover what you are doing. Tell them transactions are for services rendered.
-How to store it?
I prefer my own cold storage solution but worst case buy one of the devices online. Be aware these companies that you buy your device from will sell you out to the government if it every comes to that. Here is a guide I put together several years ago. I wouldn't say it is for a non-technical user though. But one with the capacity to learn should be able to follow along. https://cadayton.onrender.com/modules/Moolah/Moolah.html
-What guides? Anita Posch website or book -Where to buy? Highly dependent on jurisdiction. -How to store it? Start with Muun or equivalent. Follow up with single sig (+ passphrase) HW wallet. A lot of the answers to this poll are North America centric. Having experience trying to do this for family members living in a different country and language presents a lot of challenges/frictions that I took for granted in my local jurisdiction.
- Bisq peer to peer (see wiki page) -Store with Sparrow Wallet on desktop or (if mobile then Samurai if android or Blue Wallet if Apple user) - Follow @BTCsessions for tutorials - Move stack to cold storage using Coldcard + Sparrow once they’ve stacked significantly Only recommend non-KYC P2P decentralized solutions whenever possible
What guides? = BTCsessions Where to buy? = Hodl Hodl How to store? = sparrow desktop and a jade hww 🐘🐘🐘
Call me
I'd tell them - Buy daily from an exchange, and I'd recommend some exchanges. - When it feels like too much to lose, get a hard ware wallet, and I'd recommend some. - Don't sell if you can avoid it, but please spend the bitcoins if you can - and buy them back directly. HODL & SPEDN if you like wrods. Then I'd point them to these resources: - https://dergigi.com/bitcoin/ for philosophy, explanations and thoughts about Bitcoin in text format ( @Gigi ) - https://www.youtube.com/@IoniAppelberg for philosophy, explanations and thoughts about Bitcoin in video format (only birdapp) - https://github.com/kallerosenbaum/grokkingbitcoin for a fantastic explanation of how bitcoin works (not sure where to find him, I think he's on birdapp) Then invite them to a local community where they can ask all the questions. There's no good complete guide out there, and no good guide which fits all people. Too much too fast. I think asking questions when they arise is the way to go.
Andreas aantonopoulous has some great older videos. I think this would be a great starting point. Also his book the internet of money is great. Personally, I would say use well known exchange operating in your country. Get well known brand hardware wallet. Dont invent your own stuff and use hardware wallet as adviced by manufacturer. Obviously depends on how much money you want to secure.
My good friend @melissa put a bitcoin basics course together.
If they had very limited resources I'd refer them to @ODELL 's website. He has a pretty comprehensive list of btc resources.
The Bitbox02 @BitBox does it all actually ! You can buy through the hardware wallet with @pocketbitcoin incl. light kyc. Newbies learn all they need through the installation process. It‘s a hardware wallet first approach which is a total game changer imo. 1. buy hardware wallet 2. buy sats 3. learning on the way
In spanish: @estudiobitcoin (www.estudiobitcoin.com)
I would tell them to install the Trust Wallet App on a iPhone they than keep offline, and I would advise them to keep small amounts of BTC there util they comprehend why they do what they do, and feel comfortable in all aspects of.
BTC Sessions with Ben
As an European , I will suggest them to use nostr:npub1sqzr42dj8vx32yd5jcvvl3ytux45kl0etgf6y2ymjvmd7lqmuwmqk9vk7vand/or @pocketbitcoin There is enough resources from these platforms to start and learn from.
The ressources given would depend on the amount this person is looking to buy medium-term, and their technical level. Along with the ressources, a good wallet is primordial. -Play money/discovering Bitcoin : Wallet of Satoshi -Some money/Diving into the rabbit hole about bitcoin : Green Wallet from Blockstream (nontechnical), or a Coldcard if they want to play with a hardware wallet. -Serious money/Life Savings : If they're technical, a multisig setup with coldcards/tapsigners/etc. is great. If nontechnical, nunchuk is also great, or casa as a last resort.
Peer-to-peer. Invite them over to your house, pour them a drink and talk. If you don’t sit down with them, they won’t get it. It’s gonna take hours, but that’s literally the use case for good wine.
I really like BTC Sessions content. I think video is best actually showing how something works. The process. Also the why.
The Bitcoin Standard. If they are able to read and understand that book then they will be able to help themselves to answer these questions. After all, bitcoin is for anyone, not everyone. If they are buying and self-custodying Bitcoin without understanding Bitcoin then they're just gambling for a pump and will get rekt. To study bitcoin is the only sound advice that can be given.
I would refer them to my consultancy practice.
How to buy: River.com How to store: Unchained.com Then emphasis on education through quality materials produced by you, Parker Lewis, etc.. https://www.youtube.com/watch?v=Z6qzEYxBYcQ&t=1147s
Well I will be very much oblige to explain one or two things to that person about #bitcoin. First I will start by telling him or her where to buy #bitcoin on some exchanges with small withdrawal fees. I will also tell the person not to keep the bought #bitcoin on that exchange. Lastly, I will explain the difference between the types of wallets we used in storing Bitcoin and the reason why he or she should go for self-custody ones.
Introduce them to a local meet up and buy in person
In Japan, almost no on-ramp payment via apps available, all you can do is buy one at the Exchanges certified by the government, and transfer it into your self-custody wallet. So the answers are: - Guides: Follow the instructions of Exchanges certified by the government - Where to buy: same as above - How to store: - If hot one: Blockstream Green, Sparrow, Electrum - if cold one: Jade or COLDCARD
I'd say there's no one-size-fits-all answer to this question. Number one goal here would be get them to take the first steps without overwhelming them. None of us leveled up to where we are now in a single leap. My default onboarding wallet right now is Phoenix. Works with on chain and lightning, regular 12 word backup. Getting sats obviously varies on jurisdiction. Non KYC is ideal but can be daunting as a first experience. In Canada I point to Bull Bitcoin, internationally I point to Hodlhodl (but will concede to an easy KYC exchange if this is too much of a challenge out the gate. Cold storage can depend again on the user. Timid: tapsigner on Nunchuk mobile Willing to learn: Coldcard/Sparrow plugged in (much easier than many would assume if you don't get distracted by the bells and whistles) Eager: CC/Sparrow air gapped Many non technical people I've worked with over time have leveled up over time to: -Phoenix hot wallet -No KYC sats -Coinjoin -Coldcard air gapped -Running a node Not everyone needs to get here, but a lot get curious and excited once they fall down the rabbit hole. Holy crap this is a long reply. Sorry.
To add: Even the most basic first step with a non-ideal setup is fine. It's not important where one starts, but where they end up with knowledge and time. We should all learn to teach newcomers using a virtue we all preach: low time preference.
Buy on exchange. Just do back-up physical an stored in an "important" setting. IE. Not papper in a desk drawr. Start with app and then move to hw.
I judge their personality and then do it the whole way with the ones making the right noises. Start to end. Its not about quantity its quality. I mentor about 5 people at their own pace an in different styles in context of their background and personality. There's no weblink for a common, fundamental character flaw. For the unwashed masses - there's coinbase and their chase account. No time for the mass man. Orange pill the right one, and they'll do it for 5 more. No rekt losers a year later. No arguments. And when they 'get it' they self-update and bring you back signal. Far more satisfying. Honest answer.
I tell them to buy with @Azteco Id guide them with either @ZEUS for lightening azteco voucher purchases or samourai for on chain vouchers. Id send them this link on a way to buy online easily: https://twitter.com/exitcalmly/status/1624359295566454784? and I wouldn't treat them like dirt and expect them to submit ID and bank statements clearly explaining that that is rent seeking abusive behavior. Later should they wish I would send them to guides by @BTCsessions and @k3tan for further growing into node use etc.
Buy on Cash App for now until they understand non-KYC. Electrum for storage. Setup Blue Wallet watch-only to funnel funds into and keep track without fear of potentially losing phone and funds. Lightning would be a conversation for the 2nd date.
BTC Sessions Strike DCA to blue wallet while you learn about multisig. Im not saying this is the best or only way. As an in the last 2 year orange pill taker this was smooth ish. Finding my own way.
For the past year, riding on the "you get into Bitcoin at the price you deserve" wave, I have been telling all my family and friends I will help them get into Bitcoin. The entire process, start to finish, buying the hardware wallet, but with one catch: It will cost them, by a factor of how little they supported me, some more than others. The less support the more it costs. I am thinking from $200 - $500. (Most people -- I know -- will be $400, strangers will be less.) I will make this a side hustle for sure to help strangers. There is a market, some people don't want to be experts on their Refrigerators, toilets, HVAC, plumbing, AV, computers, phones etc. Geek Squad has made billions. The Bitcoin Brigade will collect billions of sats and there is a worldwide peaceful army of us. Bitcoin for the people. I have spent almost 2000 hours to learn everything 'Ledger to Date.' You don't expect a surgeon to do an appendectomy pro bono.
I would say start with Strike. Simple UI, similar to Venmo, it'll get them to the next step of " alright, what's next? how do I cold storage?" guides- btc sessions obviously buy on strike or robosats(RS would be later on) store on strike, but eventually multisig cold card or node running stuffy
Open a Swan account. Buy bitcoin. Put it into a muun wallet or Phoenix or edge wallet.
Brah you are always dropping NUKES, when I grow up I’m going to be just like you!
You think I’m dropping nukes? I’m bout to start calling you Zappenheimer
Normies “get” edge wallets quickly. Have them download edge and send them sats. Then have them buy their own sats from swan and send them to their edge.
Guides - Probably the Basics series that @TheGuySwann has. It's such a complex topic I think it's too tough of an ask for someone to sit down and read a massive article that covers everything, it's easier to hand them half a dozen podcast episodes that they can pick up and put down whenever it's convenient. Where to buy - I believe there's an episode of that same Basics series that dropped about a week ago that covers this. @River, @Swan, & @strike were specifically recommended while CashApp, and even Venmo and Paypal were included as options. How to store it - Three stages: 1. Start with a non-custodial Lightning wallet that can also handle on chain transactions. Phoenix wallet would be my go-to at the moment. 2. Once they've gotten enough value on that wallet, point them to a Coldcard and some kind of metal seed backup. Help them as much as you can without compromising their seed phrase or Coldcard PIN. 3. Optional step - If they've acquired a larger stack, consider recommending that they move to a multisig setup from Unchained or a similar company. Lean on their onboarding team who's set up lots of low-technical knowledge people. Note: If the person you're onboarding is a whale who's going to allocate significant capital up front, it's probably worth jumping straight to step 3.
If they're Canadian I would send them to this video. Everyone else probably I'd send to BTC Sessions on YouTube. https://youtu.be/KMKU9BQqL14?si=IM93dd-scUSIrR1U
When are you gonna start zapping us? For providing value, we all provided value to your question. And you didn't even zap us.
Here for some of Lyn’s rare sats 🤚
@Deleted account makes a good point though. https://image.nostr.build/eea458d39d0bc25f4263ca2667718718651ed1984ad6bb6bcc18528dfcc5988d.jpg
Um to zap is your choice, zap where you see value
There is value in receiving answers to the questions you ask. I’m not here to tell anyone what to do, but it would be great if our bitcoin A-listers engaged more with #V4V.
I would suggest they read the Bitcoin Standard. Then I would suggest they study the habits of long term Hodlrs. Lastly I would suggest a popular and safe exchange to purchase it and then immediately move it into cold storage via hardware wallet.
For the non-technical? Unfortunately, still don't think we are there yet, so would either help them directly or refer them to another person who could. Possibly answering questions about tutorials they have attempted or read and struggled with, or more general questions about Bitcoins hard money policy or tech (such a user should understand in full before buying or interacting with). Leaving them to wrestle with guides and tutorials related to keys, wallets, etc would just put them off (and could be dangerous) - at least based on the resources I have seen. Its definitely getting better but the "average" non-technical adopters I think would still struggle with resources alone. If you insisted on a more direct answer, I would be tempted to say Reddit or other "friendly" communities that might offer guidance and answer questions, however I would think twice about this and avoid such an answer as the issue of trust comes into play (and would for guides/resources too). Without knowing who you are speaking to and their incentives, it would be easy for such a new user to get misled or given a biased view (by a maximalist) or worse, robbed/screwed over by rogue agent offering malicious advice or posts. So the short answer would be higher level background content - such as some of your own posts - that give a detailed, objective, well-balanced view of all pro's and cons - followed by more personal support once they are considering taking the orange pill.
Find good YouTube videos via duckduckgo video tab, to avoid the annoying ads that override the volume, just etch in DDG
Reading retention rates especially "post dopamine casino 2023", are very low. but if you follow a video with two different windows open via duckduckgos video tab played inside DDG, you can follow a step by step tutorial. The few times I find written answers practically relevant is with Linux troubleshooting
