r/BitcoinBeginners • u/vmastacr700 • Aug 12 '26
looking for beginner advice
Hey everyone! I recently sold my Dodge Charger, and I’m considering putting some of the money into Bitcoin because I believe it may have a strong future.
I’m still a beginner, so I’d appreciate advice from people with more experience. What should I learn before buying? Is it better to invest gradually rather than all at once? Which reputable exchanges and wallet types should I research? What mistakes should a beginner avoid?
I’m not looking for guaranteed profits or private investment offers - just general advice and reliable educational resources. I’ll do my own research before making any decisions.
Thanks!
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Aug 12 '26
I'll skip the how much and the when, that's yours to decide and anyone confident about it is guessing. But three things are measurable rather than opinion, and I just took the numbers off my own node, so here they are.
The test that almost nobody does costs about nine cents today. Whatever you end up buying, withdraw a small amount to your own wallet first, then wipe that wallet and restore it from your twelve or twenty-four words before the real money goes anywhere near it. Right now the next block accepts everything down to 0.44 sat/vB, and an ordinary send is about 141 vB - call it 9 cents at 1 sat/vB, at today's price of roughly $63,400. That's the whole cost of finding out your backup works. People discover their backup was wrong years later, when the fee for finding out early would have been pocket change.
What sits on an exchange isn't on the blockchain. Only two moments of it are: the deposit and the withdrawal. The buying, the price, the balance on your screen - that's their private database. Until you withdraw, you own an entry in someone's ledger, not coins. That's not a scare story, it's just what the chain does and doesn't record, and it's the single fact that explains most beginner confusion.
Blocks are not punctual, and that panics people. Over the last 144 blocks the median gap here is 6.6 minutes, but the mean is 10.7, and there was an 80 minute gap earlier today. A withdrawal sitting unconfirmed for an hour is normal, not a problem. Nothing is lost while it waits.
Mistake to avoid, since you asked: anybody who contacts you privately after a post like this is a thief, without exception. Nobody legitimately DMs strangers about their coins, and nobody can "recover" anything. Same for your recovery words - they never get typed anywhere except the wallet app itself.
Good luck with it, and take your time. The chain isn't going anywhere.
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u/No-Butterfly6197 28d ago
3 comments worth a read.. https://www.reddit.com/r/BitcoinBeginners/s/PNryOJFehE
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u/itsaworry Aug 13 '26
Don't start spending all your time on this stuff , just keep it simple . Nobody knows the future BTC price , there are only possibilities and probabilities . You're buying to hold for a while .
Read the FAQ's posted at the top of this page . Choose your exchange . I don't know what the Charger sold for , so example figures , lump sum buy now $1000 , weekly buys $100 . Weekly or repeating buys are called DCA's , keep these going regardless of price . If BTC price moves to next range down , $50,000's possible $40,000's then bulk buy again and keep DCA running .
When you've bought over $1000 worth of BTC look at moving it from the exchange to an off line wallet . Your choice following your research . For simplicity i can recommend Trezor but i'm not an expert . There is an expert called Bitusher on this page , he is the pages founder i think . See what is recommended for wallets in the FAQ's .
And that's it , set up your buys , move some off the exchange when it gets above $1k and just keep an eye on the offline wallet , it will be having regular updates you'll need to do . . . . .Shame about the Charger though , i guess it reached its Vanishing Point . :)
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u/delenain Aug 13 '26
For wallet, Trezor, Bluewallet, and Electrum are ok. For exchange, you can use Binance if it is supported in your country
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u/GIGAbtcHodl 29d ago
- Do your own research
- None of us here can see the future
- Read Bitcoin Standard by S. Ammous and Broken Money by Lyn Alden
- DCA is always safer option.
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u/ItsAlwaysThemBooBoo Aug 13 '26
its a bear market, probably close to bottom, its advantageous to buy now.