How to Buy and Store Bitcoin (The Right Way)
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- Опубликовано: 20 авг 2024
- How to buy Bitcoin anonymously:
www.trader.uni...
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Be sure to use the secret discount code YT99
In this video, I discuss how to buy Bitcoin using the Strike app, and then how to withdraw it and hold it safely on a Trezor hardware wallet.
"Not your keys, not your coins!"
Never leave your Bitcoin where you bought it, whether that was Coinbase, Kraken, Gemini, PayPal, CashApp, Strike, etc.
Rather buy your Bitcoin and then withdraw it and send it to a hardware wallet that you control. A hardware wallet is a safe place to hold your Bitcoin private keys and hodl for the long term.
Not investment advice! Consult a financial advisor.
My favorite place to buy Bitcoin:
strike.me/en/
My favorite Bitcoin hardware wallet:
blockstream.co...
Another good hardware wallet:
trezor.io/
Trezor recovery seed:
blog.trezor.io...
Robinhood still does not let you withdraw your Bitcoin:
cointelegraph....
My favorite Bitcoin dashboard:
bitcoin.clarkm...
The problems with KYC Bitcoin:
• How KYC Can Ruin Your ...
KYC (Know Your Customer):
en.wikipedia.o...
Check out my Amazon best-seller, "A Beginner's Guide to the Stock Market":
www.amazon.com...
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#Bitcoin
#Trezor
#HardwareWallets
Disclaimer
Neither Trader University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading.
WARNING: There are a number of scammers who are using my image and
channel name to try to connect with my viewers on WhatsApp and other
platforms to scam them. Just so you know, I will never refer you to
"my personal trader" or try to connect with you personally to sell you
something. I am trying to ban these scammers as quickly as they pop up. You can
always recognize a scammer by clicking on the image and seeing how
many videos he has. All of these guys have zero videos, while I have
hundreds. I also now have a checkmark next to my name, so that you can distinguish the real Trader University from the imposters.
It took me much much longer to absorb the bitcoin model you sent me. I’m talking like 5 hours a day easy. Model is good, makes sense. Your long term target is justified.
TREZOR IS FUNDAMENTALLY FLAWED. Please do not use Trezors -- ruclips.net/video/6pKuHYwrGkU/видео.html
You may also point out that in general the name of the true owner of a YT channel appears highlighted in reverse B&W. Scammers cannot do that, they can only copy the name.
US government can destroy bitcoin forever and it's gonna cost only $200 billion which is a third of military budget.
Why the hell would anyone buy a damn thing on Robinhood. Robinhood is owned by the same billionaires that were caught up in that GameStop hustle vs Reddit. The billionaires own the actual platform that you trade on. This is why they can put a stop to trading whenever they want, that benefits them. It's funny how people are not very educated on these things. We also really need to stop calling Bitcoin decentralized, because it NO LONGER IS!
Thank you Matthew. I’m a seasoned crypto in investor (using a Trezor) sine 2015, and I learned this discipline a long time ago, but this is an excellent primer for newbies on the importance of securing your private key(s).
Looking forward to seeing your Blockstream Jade guide. Also, viewers might like an analysis of the Liquid network.
Ditto. I would love a liquid network video
Honestly Blockstream/liquid is an exploitative network. Sucking nodes into liquid to profit off them later. Prefer staying on Lightning.
Totally agree
@@user-on7bw7js1x interesting point. Hope he would talk about that.
Oh great! So i have no excuse to procrastinate anymore now....
Thanks!
Matthew, You are no-nonsene one of the best teacher on YT. A lot of hype and noise on YT. I am learning tons everyday from you. I would love to learn and take your university courses hopefully down the road.
Such a helpful video! I am so glad you recorded the procedure, Matt. EVERYBODY keeps asking me how to buy and store BTC properly. Now I can send them to this video. Thanks!
Where do you store your seed phrase? Safety deposit box? What if something happens to you? How do you make sure your family gets your coins?
Steel tablet or steel capsule
1:28 - Regarding taxes, if you hold off selling your Bitcoin for one year, tax will be way less.
Thank you for sharing your invaluable knowledge.
Thanks Matt
In fairness if you are not a trader and want to keep long time, the very safest way to store bitcoin is in your head, with the 12 pass words backed up on paper, or an electronic signature or written into a book.
No technology is 100% because of design errors, bugs, hacks, theives and hardware degradation.
How to remember 12 words?
Create a story in your mind with each word attributed to an image.
gong rabit sun sofa hurt major...etc.
imagine a giant gong being struck by an inflatable rabbit which hurtles off out to the sun which spits out a lime coloured sofa crying because of a rip in the seat cushion which hurts. A major sits on the sofa while... etc.
The more profound the story, the mire outrageous the images, the easier it is to remember. Recalling the story reinforces the memory.
Worth the effort.
I am going to buy my first wallet, and would like to see your comparison between the Blockstream Jade and a Trezor, any idea on timing ?
Hi Matthew, what about the downsides of buying from an exchange where KYC is mandatory?
I guess I need to get my bitcoin off of coinbase. I had no idea of the problems leaving it there and your video is very helpful. Question: How do I fund the Strike app? By wiring dollars from my bank account? Thanks for all your information.
Thank you for this video. I took your advice and the Trezor worked well and easily. Grateful for your advice.
Hey Matthew, you had mentioned that you prefer Trezor Suite Web version over the desktop version. I'm curious, but wouldn't it be better to use the desktop version and eliminate another third party. Since Trezor suite is open source, and the Chrome browser is NOT, wouldn't you think that eliminating Chrome if possible would be beneficial?
Thank you again - your channel is much needed🏆
Hey Matt, really good video per usual. Could you go more in-depth for Blockstream in a future video? Looking into hardware wallets soon so I’m curious on how it matches up vs Trezor, etc.
Yes, definitely.
I'm very curious too. Specifically on the security chip vs open source aspect.
@@Bitcoin_University I'm curious about this as well. My copied comment on yesterday's video -
Not so sure about the Jade wallet after finding out how they work around the 'secure element' issue. Seems like sensitive info is sent to their central server upon initialization of the device? And then possiblyreaccessed for transactions? A lot of it is over my head but I don't like the sound of it. Review link in my reply to this comment.
@@SailingIndependence Yep, I also have an issue with the Jade as well. Same with my info possibly being leaked during the Ledger customer info hack a while back. Dropped the Ledger and bought a fancy Trezor.
@@CorwinRUclips If your info got leaked in the ledger hack, you'd know - trust me..
Great vid. Wish I saw this when I was figuring it all out the old school way. Made me think about reconsidering my choice in Ledger but it has served me well over the last few years.
Matt, a modern day prophet. Good morning.
Satoshi was the real prophet.
@@Bitcoin_University His great sacrifice for man seems analogous to maybe someone greater than a prophet.
@@Bitcoin_University Satoshi is the deep state - Trojan horse - we're all building the 'gold standard' of the crypto ecosystem, imagining we're being independent pioneers. We're not. We're being duped.
Majority of BTC is owned by "Satoshi" aka deep state.
They who own the majority of BTC will control the world as we move to a digital currency global ecosystem.
This is no accident.
@@beefquiche Satoshi owns a lot, but not the majority. The “deep state” owns the money machine now, and the rules can change at any time. Bitcoin follows laws of nature, in a way. The will of one person can not change it. Bitcoin is a Trojan horse, but it delivers equality and freedom of opportunity.
@@Jdwagner17 that's the sales pitch.
Look, it's a deflationary asset class dropped into a bucket of inflationary fiat currencies. It's gonna absorb them all. Inevitable.
This is all by design. Early adopters will of course we rewarded.
But deluding ourselves that this was all some happy accidental financial model that was created by one benevolent man is ludicrous.
We are being gamed. BTC is simply the "gold backed" aspect of the new Crypto ecosystem.
And "Satoshi" does indeed own the lion's share of BTC. which means the power brokers who started this whole thing own the lion's share of the backbone of the new global crypto monetary system.
Shit like this is no accident.
this right here is the best video yet. thank you.
here's a question...
would you consider discussing strategies for storing / hiding our 24 words??
If you can recover everything through a seed phrase with a NEW hardware wallet then your data(Private Keys) Must be saved, presumably encrypted, on the internet somewhere. Where are they saved? Who's server gets that privilege. Thanks for a great video.
Edward, a wallet's key is created based on the random 12/24 words; it is a crypto hash of those words. If you know those words, in the correct order, a new wallet will always re-create the same private key because it is a mathematic formula. It is impossible to reverse-engineer and find the 12/24 words by seeing the public key. So the key is not stored on any server, it is simply created by the wallet based on the secret words using the same SHA256 hash formula. Hence, if you lose your wallet, simply create a new one by supplying the 12/24 words and the wallet will apply the SHA256 formula and the same private key will be created in the new wallet.
Matt. Thank you again for your information. I commented on yesterday’s video - can you cover multi-sig storage?
Very important topic ☝️
AWESOME INFO!!.. THANKS BROTHER.😎👍🌴🌴
Glad that you found it helpful, Johnny.
Somewhat of a sidebar Matt but I believe germane to the overall discussion ... people I have spoken to in depth about Strike have told me that the number 1 problem with the platform is the limits on deposits in order to purchase. This despite the non-stop communicating with their support dept back and forth to get limits raised. BTC will be at valued at 1M before you could even get to 1 BTC purchased. Just so your audience is aware that this may cause some level of frustration.
Awesome!! This is exactly what I needed! Great info. Thanks man!
You should consider the Coldcard hardware wallet.
Subscribed. This is exactly what I was looking for! The explanations are being conveyed in a calm and thoughtful way, very good! Thank you for this!
INVESTING MAKES UP THE TOP-NOTCH HEMISPHERE OF WEALTH, THAT IS MORE REASON ONE SHOULD SAVE AND INVEST TO SECURE MORE PROFIT AND ENSURE SUCCESS...
Have bookmarked this, will re-watch it and make notes. Initially my expectation was low. I thought I will probably have to watch multiple streams and make notes but this one seems to cover it all in sufficient detail...
Could you do a follow up on the Blockstream Jade?
I moved bitcoin from Robinhood to a Nunchuk wallet with little difficulty. I couldn’t send over $5k value per day.
The few friends i have convinced to buy bitcoin are too lazy to take the next step and store their BTC in a cold wallet. But heck they are all fired up to buy Shiba. Lol.
I don’t understand it, it’s literally your money you’re playing with!!
So depressing. This is one reason I'm increasingly worried about this:
ruclips.net/video/fqBrYjm9I0w/видео.html&ab_channel=TraderUniversity
Well for one governments are allowing it as currency … so how is this not tracked by the government .. it is. It’s time to stop lying to yourself
You don’t do a test send with a low amount first!? Yikes you’re brave!
Hi Matt. Blockstream, besides offering the Jade Wallet also offers Multi-Sig storage. It is a bit different than most I have seen. Do you have an opinion on it? Thanks
Excellent video. Thank you.
Hello what's the best way to get started with trade cos I've been making my personal research for a while now
first thing to do is to stop all form of trade and seek the help of an expert to guide you through. allot of people shy away from this thinking they could do it alone and end up blowing up their account.
the success behind my profit earning in bitcoin Investment is not solely on my skills but by help of Investing with an expert.
I have been Investing and trading and still yet to earn my first profit. what strategy did you use pls
I've lost nearly 4000 in my demo account, used allot of strategy I saw on youtube and read online, what advice do you have for me, which strategy should I focus on?
I'd advice not to use all strategy you watch or read online. different traders, different strategy. trying to put all together will only lead to you making more loss.
This is very helpful, thank you for sharing so much with us.
Thank you! Can you continue the safety protocol by recommending a way of safely storing your keys? If not here, perhaps another video?
Exactly what I wanted to ask. Had a discussion with my family about this, ways to store the seed phrase. Not that easy. Would like to know Matt's view.
Some great advice there, I always store my BTC on a hardware wallet. Instacoins has been one of the best places I have found to buy BTC. It's safe and easy to use and doesn't have the high fees the other exchanges have.
Matt, What do you think of Arculus as a cold wallet? Could you do a podcast on pros and cons of different cold wallets including Arculus?
@@pinnedside6666 how to steal your money is what I would like to show you.
intended to respond to the fake account not the real one.
@@pinnedside6666 nice try
I love this video!! So helpful!! Unfortunately Strike does not allow access in New York. Is there another app or broker that you would recommend with low premiums like Strike? Thanks!!
Thanks
Recently came to know about cryptocurrency and this is my understanding so far from watching a few of your videos.
So Bitcoin is like a piece of land on the moon, which anyone can see and which you can own but can't touch or move. The only thing you can do is transfer your rights on that piece of land.
Basically
Matt, how serious is your assumption about ledger security and possibility of coins to be compromised in the future
I think it's low probability. But why take any risk that you don't have to?
@@Bitcoin_University thank you so much for all you do.
@@se6586 There are certain court orders that have a 'gag order' attached to it meaning that they aren't allowed to tell anyone what the court/LE has forced them to do. I don't think it matters whether its a public or private company because both have to comply with court orders.
Just bought my bitcoin on Robinhood and sent it to my Trezor
How often do you add to your premium content? I'll be getting a subscription in a month or 2.
Thanks a lot for this awesome video. Quick question. Can you still do staking with the hardware wallet? Or you will give up the chance to do staking to get "dividend" in order to get a better security? Thanks in advance.
Not your network, not your coin. In addition to requiring keys, you must have access to the SINGLE bitcoin network. If this SINGLE network decides to refuse access to certain individuals, even if those individuals retain their keys, they will not be able to transact. This is equivalent to a bank freezing your account although they tell you the money is still in there. What good is money you can't spend? The miners ARE the "banks" of bitcoin. They are the only entities with permission to modify the ledger. Even if you retain your keys, you do not have permission to write your transactions to the ledger. Miners must ALWAYS be willing to select your transactions to include in THEIR blocks. Permissionless is a lie! Miners are a nearly perfect analogy to traditional payment processors/banks.
Would you talk about how to handle it if you suddenly die or become incapacitated?
More Bitcoins that will never be sold.
NEVER buy a hardware wallet off of amazon, ebay, etc. You never know if they haven't been tampered with. Please. buy directly from the manufacturer
I'm not saying that I disagree but I'm just saying that if you buy from the distributor they do keep records and Ledger had got their records hacked and personal information got dumped all over the darknet.
@@butmunchass you're absolutely right. There's always a risk but having your passphrase stolen can be worse than having your name or address stolen and leaked to the internet
Thoughts on a cold card wallet?
Good one Mathew
This is a great basic guide but I was hoping you were going to share your multi sig setup. My current concerns are: what if my passphrase is forgotten, how to handle inheritance of BTC, how to keep recovery seed secure? I think multi sig can help with some of this but it quickly gets complicated.
Should you only store 1 crypto type per hard wallet?
Also once the Bitcoin is moved to the wallet can you check the value/amount, assuming the quantity stays the same but the value still goes up or down.
Yes, I sent a couple hundred to my Tangem wallet and even after the fees, because BTC went up, I had more than I sent. 😊
Great video. Thanks. So a trezor and ledger are the same? The thumb drive is your vault. Your phone is a wallet.
if hyperbitcoinization occurs then should we worry about continuously stacking sats? I mean if that occurrs then 1 BTC is worth SO MUCH that just having $5000 in BTC today would make you immeasurably rich...
Thank you for this work. Cheers !
Had to do the course thing, gotta scope up them Bitcoin.
Hi Matthew. Thanks once again for the excellent videos you make! Q: how to "reset" my old trezor to a btc only firmware wallet, without losing my btc? I am a newbie and a hodler and I am afraid to make any changes to my trezor. I even consider byuing a new Jade and make a new wallet just for not messing up my old trezor and lose everything. Thank you for your work, I wish you the best!
I use coin base Pro and a Trezor. I will attempt to make the switch.
Why are the fees so high?
On fiat money nobody would ever pay these transaction fees.....
Conditioning. .. this is all about condition for the social credit system which Bitcoin or ETH will bring upon us. You will be the warden of your own prison. Bitcoin is not decentralized anymore and these guys don't wanna fest up and say, "we recommended you a mistake". So instead they are taking you down a deeper rabbit hole.
The idea would be that you actually move BTC when the fees are nothing compared to the amount you hold. Besides that, many LEND BTC and the interests crush the fees.
I appreciate this, thank you.
Great video! Thank you!!!!
Well presented! Question, how safe is it to transfer crypto from a well know exchange into a cold hardware wallet where All your crypto is stored? Seems like not a good idea to potentially expose losing it all. Is there another way to send it for example to a device first where No crypto is stored then transfer it from that device to where all or most crypto is at? Thank you
Did you do a Blockstream Jade video? Thanks Matt.
Thanks for another great guide. What's your view on using Electrum on a USB stick running Tails OS, kept offline as a cold wallet?
Would you also recommend a yubikey ?
it would be a personal choice as the trezor mod. t also can do u2f if needed for sites and such.
I have one and would recommend it.
Thank you 😊
I currently only have a work issued laptop at my disposal. Should I buy a cheap and basic laptop to execute these methods or is it practical to do this at a library? Just worried about my company monitoring my activity on their laptop
another important video thanks
Do you still use Strike to purchase bitcoin? This video is over 2 years old. Thank you.
Couldnt you move it a couple times though and therefore alleviate the presumption that BTC that came from strike is still yours?
Matthew, did you ever make a blockstream Jade review video? Couldn’t find one anywhere.
Wait so should we or shouldn’t we make a back up?
What’s the difference between the 12 word pass phrase and the private key?
If you move your BTC from the normal trezor into a secure trezor password wallet....do you pay fees to move it over?
I’m located in New York, is there any other service you recommend being that strike isn’t available in NY.
Strike is not available in NY. Working towards approval I hope.
You should block out most of the transaction amount as well - in this case I know some of your public address(s) which could reveal your stash during consolidation. I would suggest selling back to strike and re-purchase.
Yes, very good point. Thank you.
@@Bitcoin_University What about blacklisting of "bad people's" BTC addresses? Yeah, you mention that if you're a 'bad person' then the gov. can grab your crypto by serving the exchange with a court order if you've left it there. But BTC isn't a privacy coin and isn't really considered fungible. That is if the gov. tells the exchange that you're a 'bad person' then the exchange will turn over your BTC addresses you've withdrawn to. They can't steal your crypto but they can serve blacklists of 'bad peoples' BTC addresses to exchanges which is what I think they already do. Would you have to use a mixer to randomize your BTC to a new address or try to sell using a DEX if you think that the DEX might not use the blacklist?
Is bitcoin wallet a Big No No too? Despite my holding keys is it still unsafe? Can I purchase through coinbase and hold elsewhere? Such as the trezor?
$61k, those were fun days
Thanks Matt
Does Trezor have a QR code to transfer your BTC?
Now. How do you Buy BTC without having to use the Centralized Government/Banking system? It is decentralized right? The one answer I have been searching for doesn't seem to exist. How do you get anything out of your BTC after getting BTC that you got by using a government created, controlled, and centralized currency? Let me guess. KYC?
You can use Robosats, Hodl Hodl, Peach Bitcoin, Bisq to buy non-KYC Bitcoin. You can also earn it and spend it, and thus avoid centralized exchanges. BTC works best peer to peer
your premium is un available in my country, im interested in the videos explaining anonymity while purchasing coin is there any other method i could use to gain access. thanks a bunch for all the informative videos so far btw !
But the problem is you cannot trade quickly if you have to constantly send crypto back and forth to exchanges from your wallets.
PayPal does not offer transferring bitcoin, strike offers a withdraw function, it looks like cash to bank account though
@@pinnedside6666 I dont use WhatsApp gimme a few to open an acct
Does strike offer instant sends or will I have to wait for my ACH transfer to finish each time?
Should i return my ledger nano x if i haven't opened it yet?
Also what do you think about UnBanked/Ternio?
What would you suggest for those that want to earn yield on their crypto?
Dude are you getting paid by the “Trezor” ?!
So what's the best way to do it?
can you buy bitcoin directly without an exchange or you always have to use an exchange then transfer to your hardware wallet?
You usually need to buy from an exchange. You could also buy from a Bitcoiner in real life at a Bitcoin meetup
It Looks like The Jade wallet only works on an iPhone and on there website io there is no mention of android , Confused.
An airgapped Coldcard is far more secure than Trezor
Matthew, can you do an update. Is this vid still valid today (Havent watched it yet, just about to, just noticed the date is 2 years old)?
Hello, great video and channel, love it. Is it ok to purchase a blockstream Jade from one of the blockstream's distributors in Europe? thanks