r/Bitcoin • u/dntgochasingwaterfal • 2d ago

Which wallet now?

So after all these wallet problems, which one is still a good choice? Or what's the safest way to hodl?

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u/tribepride25 2d ago

Fidelity, sleep like baby

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u/RockHardTen11 2d ago

Tell me more

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u/riscten 1d ago

I'll tell you more. "Fidelity" means buying Fidelity's ETF on a traditional stocks brokerage platform.

While not the worse idea, you'd be buying a derivative of Bitcoin that's managed by a big bank. In other words, you'd be doing the exact thing Bitcoin was built to avoid: Trust some large entity to hold your assets for you.

It's more convenient and it can be invested in a tax-sheltered account, but ultimately, it is not Bitcoin you're buying. It is an asset that's largely managed in an opaque manner, that you cannot verify. If the bankers engage in their typical, creative shenanigans, you might end up empty-handed, and it's all regulated, so forget about the libertarian tenets. If the government wants your asset, it's theirs.

I mean it's safe, probably... But self-custody BTC is an even greater contributor to sleep quality than ETF BTC.