Very well, I was explaining this argument that you still need to protect the exchange account which is same as protecting private key for a while. Happy to see people with larger audience explaining it too!

If I was new which I’m not, that would have went right over my head.

AHHH,.. I WAS JUST WATCHING YOU WITH NATALIE BRUNELL.WHEN THIS POPPED UP.😃👍🔥🚀

what about staking and earning interest on the bitcoin?

What would your advice be for the really technically incompetent old people that want bitcoin exposure. I've noticed after around 70, its literally impossible for these people to navigate through basic software.

@AndrewBigwood101

2 жыл бұрын

I think you raise a very interesting point Noah, I'm 60 and just weeks ago invested in bitcoin for the first time. I'd been intrigued for a decade, and it was Saifedean's talk with Jordan Peterson that turned the key for me. Id prefer to let Saifedean advise you on the best exchange to use.

@AndrewBigwood101

2 жыл бұрын

I'm in the UK and use SwissBorg exchange. I bought a Ledger Nano S hardware wallet which had good reviews for my purposes. Whilst I followed all the setup correctly, what I didn't realise was the time frame it can take for currency to transfer from exchange to wallet. Whether this is Internet connection based or something else, I'm not sure. I just thought it was a point worth raising. Thanks for your work Saifedean, you've given me fresh life.

Any thoughts on the importance or significance of adding the optional BIP39 passphrase?

2 жыл бұрын

If you add it you increase the likelihood of losing coins due to human error but decrease the likelihood of other person successfully stealing from you. If you're smart about it you can even set it up to resist torture. A good way of mitigating the risk of error is writing down the passphrase and storing at a different location, possibly twice.

@TheBitcoinRevolution

2 жыл бұрын

The jury is divided on this. Consider multi-sig.

My god just generate a pair of key, print it 4 times and hide it various place of your house. It's not that much complicated you do not need fancy ledger thing or so 😊

Is buying a ledger from Best Buy safe?

@subseb3896

2 жыл бұрын

Yes best buy is authorized by ledger

Ballet crypto wallets are great gifts for new coiners

Never ever use a generated private key, always create your own key. Using a pre generated key is the single best way to have your bitcoin stolen. Ask me how I know !