BTC purchase questions, Online, Hardware, Paper wallets..

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I’ve been procrastinating purchasing BTC since November (originally learned about it when it was around $400 USD a few years ago * facepalm *). I overthink everything and have specific questions. The main thing holding me back is where to store bitcoins securely. My intention is to make an investment as opposed to use as a currency, but have a feeling many people will be using an electronic currency by the time I need a walker have bionic legs.

I opened a coin base account and started a transaction, I finally have >0 BTC. My research shows r/bitcoin is not a huge fan between account closings and lack of customer support, but their website is as reassuring as other “real” banks. I intend on transferring this once the transaction finalizes. I’ve read a few articles on hardware/app wallets and really like what I read about Trezor, ledger, bread wallet, and mycelium.

Sooo

  • Is coinbase the best way to purchase? (fastest, least expensive, secure) before transferring to a different wallet?
  • Is the coinbase vault (with you managing a key) the same as a paper wallet?
  • If I use a paper wallet through a generator, can I add this key to the bread wallet or other app to make payments? (Once the BTC are in a paper wallet, how do I get it out or check how much I have?)
  • What is a quality paper wallet generator? If a generator creates a paper wallet, what keeps it from generating the same keys twice?
  • If a trezor or other hardware wallet is damaged by (like being put in a washing machine) are your funds lost forever?
  • What other hardware wallets should I consider for these uses and why?

I just want to be a part of this revolution before we talk in mBTC. List of helpful research and things I’ve read for those who come across this later:

submitted by /u/Elderman
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1 Bitcoins

Bitcoin News and Search

1 News - 247 News - 247 Bitcoin - 1 Search


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