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.
- 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: