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Baby Steps

bitcoinbinge.substack.com

Baby Steps

How to Set up a Bitcoin Wallet

Dec 16, 2022
5
Share this post

Baby Steps

bitcoinbinge.substack.com

I want to give you $10 of bitcoin.

You heard me right…

Baby Steps

The best way to learn about bitcoin is to actually own some. And I don’t mean on an exchange or via an ETF. I mean self-custody bitcoin.

Bitcoin held on an exchange is just a credit. You don’t own it and are trusting the exchange to keep it safe and let you access it.

What’s self-custody?

I go in depth here:

Holding Bitcoin Off Exchanges

In short, it’s…

THE most secure way to hold bitcoin.

Self-custody is what it sounds like.

Self—you.

Custody—possession.

When you use self-custody, you have complete ownership over your funds. Read the post about holding bitcoin off exchanges for more about what private keys are and how they’re the reason that you and you alone own that real bitcoin.

For now, let me help you get started using bitcoin.

If you don’t own any bitcoin, you probably don’t have a bitcoin wallet. If you do own some but don’t know what a self-custody wallet is, you need one.

Holding bitcoin via self-custody isn’t complicated. In fact, it’s often easier than setting up an account with a cryptocurrency exchange.

How to Set up a Bitcoin Wallet

I’ll walk you through an easy mobile wallet setup. Once you’re up and running with a mobile self-custody wallet, you can read my post about holding bitcoin off exchanges to explore even safer ways to store larger amounts of bitcoin.

Treat your mobile wallet like you would a traditional wallet. Just as you wouldn’t walk around with $10,000 cash in your wallet, you wouldn’t want to walk around with that much bitcoin on your phone.

Similar to how you interact with traditional money, all best practice financial habits like this also apply to bitcoin.

After you get comfortable using your mobile wallet and if you buy or receive larger amounts of bitcoin, you can learn more about other wallets.

So…

I want to give you some bitcoin.

Take these 5 easy steps to set up a bitcoin self-custody wallet and I’ll send you your first $10 of BTC!

With the current annual promo for paid subscribers, $10 equals ~3 and a half months worth of Bitcoin Binge.

I’ll give it right back to you…

In bitcoin!

More importantly, you can start learning about bitcoin by actually using it in a smart and secure way.

I’ll be here to help the entire time.

Let’s get started.

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