KEYS

This-Location3034

Don’t look at it for a decade. Work as little as possible during that time. Log in and cash out during the bull run in your 40s. DON’T FORGET YOUR PRIVATE KEYS 🤣

radiocrime

Again, for the billionth time people: NOT YOUR KEYS, NOT YOUR COINS! The Bitcoin in an ETF does NOT belong to the people that park their money there! When you invest in an ETF, you are NOT buying spot Bitcoin. ETF’s actually go against the agile idea that BTC was created for in the first place; financial freedom, financial sovereignty, an off-ramp to leave a broken fiat system and opt out of a system that will eventually collapse on itself. ETF’s are simply an extension of the broken fiat system that uses Bitcoin as a way to drive profit, and goes against the ethos of BTC and what it was intended for as an alternative money by Satoshi Nakamoto. I’ll take purchasing spot Bitcoin and taking custody of my own coins, thank you very much… So there’s your answer. And that’s why you don’t “just buy a bitcoin ETF”…

ClearSnakewood

Bitch, repeat after me: 👏NOT👏YOUR 👏KEYS 👏NOT👏YOUR 👏COIN!!! Have fun choking on Jack’s D, lol

TTRO

Wow, let's see, these were your mistakes: - pressuring someone to invest their money in an asset. Any bad outcome will always be blamed on you. - not coming up with an exit plan for your cousin - not explaining to the cousin how bitcoin should only be a 5 year minimum investment, and that has historically been very volatile Now your cousin's mistakes were far more serious: - letting her cousin, who by his own admission has a drinking problem, convince her of where to invest her money - giving said cousin the KEYS to the asset, giving total and utter control of the investment/money. The bitcoin isn't in practice owned by your cousin, it's owned by you. Each time you refuse to have her the keys so she can sell, she'll be more convinced you stole it. It's like watching a car crash

crimeo

How would they seize your crypto? Take it off exchanges and don't carry the keys around with you in your pocket on a USB drive that says "MY CRYPTO KEYS" maybe, ffs.

Tropicthunder07

Made my 1st 3 purchases first week of Feb. 3 very small transactions all from same bank account matching my ID and personal info. Bought a Trezor cold wallet and tried to move my BTC offline and there it is... Coinbase placed a HOLD on my account for SEVEN WEEKS. Direct ACH transfer from my bank, withdrawals shown posted; yet i have to wait 7 WEEKS to move "MY" BTC?!?! NOT YOUR KEYS, NOT YOUR WALLET.

HowToSayNiche

Ayyyy another one bites the dust NOT YOUR KEYS, NOT YOUR CRYPTO

Zombie4141

The classic case of not your keys, not your bitcoin. OP like many others left their money on a new exchange, and unbeknownst to them the CEO (Sam Bankmanfried) of this exchange where selling people’s bitcoin for his own made up crypto. Along with buying politicians, athletes, actors and air time to promote his business. But people started selling bitcoin and taking it off the exchange to hold it in their own wallet and Bankmanfried didn’t have the Bitcoin to give them, so he liquidated his made up shitcoin and still couldn’t cover people’s request. The more word spread about FTX struggling to fill its customers orders, the more people panicked and tried to pull out. Bankmanfried tried to get investors to bail him out, but nobody would, so he fled the country. People lost billions. And he got nabbed and sent to prison. This is a hard lesson to learn, but OP gets it. Unfortunately there are many many many other exchanges just like this and people are still okay with letting others keep ahold of their keys. I mean people still trust fucking Robinhood for fucks sake. That even worse what they did. Only they got a pat on the wrist and were allowed to keep their business. Because the difference was Robinhood fucked over the poor so the rich could keep their money. But FTX fucked over the rich and the poor. NOT YOUR KEYS. NOT YOUR BITCOIN.

ExtremeGreenProf

only ONE of the 3 KEYS ... and you need 2 to access BTC

opera678

Brother buy a trezor or research some other hardware wallets. Send a test amount and make sure it goes through. If you are really that scared of sending it over or sending too much money in one transaction split it into 10-20 transactions if you need. The hardware wallet comes with a small paper to write your seed phrase down. Store it in a safe or safety deposit box. NEVER take a picture or store the seed phrase online. NOT YOUR KEYS, NOT YOUR COINS! One of the most important things in crypto fr

SeannieG123

Literally my story ^^^ same amount same anxiety. But. NOT YOUR KEYS/NOT YOUR CHEESE. I've just bought a trezor 5 and a 20 word phrase metal seed box. It'll be given to a very well known solicitor friend of mine (documented) Do it. Move it. Exchanges collapse

ASIFOTI

“Life has been getting cheaper for me.. I live in a deflationary world that runs on The Bitcoin Standard.” It’s a tool to hedge against fiat debasement.. or money debasement Everyone buys bitcoin at the price they deserve. Bitcoin is a protocol, the accounting on the ledger is done in satoshis It’s being adopted by local, state, federal gov, countries, endowments, companies are putting it on their balance sheet and within sovereign wealth funds, ETFs, and buy the smartest people in the world are buying; Lary Fink of blackrock (they manage trillions of dollars) recommending 2-3% allocation.. and the odds of that allocation increasing are pretty high in the future. Banks are now allowed to accept bitcoin by law, they’re starting to setup their infrastructure to accept it and do business with it, borrow against it and more. Most importantly, with a cold wallet, you get to be your own bank. “NOT YOUR KEYS, NOT YOUR CRYPTO!” — Ledger and Trezor cold wallets are fine. Bitcoin is the only asset that has a 30% yoy expected change for the next 20 years.. last year it returned roughly 150% Don’t focus on buying bitcoin, focus on stacking sats. Worry not about the dollar value of the sats you have but the quantity. Of course the goal is 100,000,000 sats but that will get much more difficult than it already is.. even 10,000,000 sats will change your life in a big way or .1 Bitcoin. The Bitcoin Standard is a life style. When you understand it, nothing else is worth keeping, not gold, bonds, stocks, investment real estate.. Bitcoin is by far the best investment. Step one buy Bitcoin Step two spend 100 hours learning about it Step three direct deposit bitcoin because you know cash is trash. Step four DCA in/out takes the volatility out of the coin. Hopefully this helps

twitch-switch

OP if you have a list of 12 or 24 words (might also include one more word which is a passphrase). THESE ARE THE KEYS TO THE WALLET DO NOT ENTER IT INTO ANYTHING DIGITAL UNLESS YOU HAVE TO. If you've taken a photo of the words or saved them into your phone, it becomes vulnerable. All it takes is one dishonest guy at Google or Apple to find the phrase on some sort of cloud save and they could swipe the whole wallet and you won't ever be able to retrieve it.

StatisticalMan

I said IMPORT THE SEED/KEYS into a new wallet. Not wait for this transfer. This transfer will never complete. You cheaped out on fees and are using a piece of shit wallet which doesn't support RBF so the tx will never be confirmed.

InvoluntaryEraser

*screenshots your Trezor* NOT YOUR KEYS NOT YOUR COINS SUCKER

StatisticalMan

Some people will act like you need to move every $8.32 worth of Bitcoins off the exchange within millisecond of buying otherwise you are financially ruined. NOT YOUR KEYS NOT YOUR COINS. Honestly I see nothing wrong with having a small amount on the exchanges. If 90% of your funds are in cold storage and 10% on an exchange you can sell up to 10% without moving anyting. Likewise if you are buying $50 a day you don't need to move it to cold storag every day just move it once a month ($1,500 worth). You know ... common sense.

ConferencePatient508

Don't think he/she thinks it means what it means. *from the rooftop* NOT YOUR KEYS, NOT YOUR COINS!! *getting down from the rooftop. It's scary up there*

MagnificentMarvin

NOT YORU KEYS NOT YOR COINS!!!! /s I only buy through the ETFs so i don't have to worry about shit like this, or figuring out how to hide and find 12/24 words. The people on this sub shitting down the necks of ETF crowd can fuck right off -- some people like to go on a boat every once in a while without the risk of their personal bank sinking forever.

Astral_Diamondhands

We are all sorry for your loss. Thank you for sharing this with us. You learned and you start to rebuild. All together now! "NOT YOUR KEYS NOT YOUR COINS" 🙏

supremezionsky

NOT YOUR KEYS NOT YOUR BITCOIN!!!! Dunno how many more FTX's there needs to be when the very nature of WHY bitcoin was made is realised. ETF is worse than than holding money in a bank in many ways 🤣

SemperBavaria

If people contact you offering help, they just want your seed phrases! DO NOT GIVE STRANGERS YOUR WALLET KEYS!

pet2pet1982

Solana is irrelevant . Seriously? Ethereum game is over. It is a highly centralised and censored scam. Their “smart” contracts are now indistinguishable from embedded SQL database procedures due to total surveillance and censorship. Just replication added by a blockchain. Nearly 80% of coins are concentrated in the hands of Vitalik friends. The same situation has been formed around Bitcoin, but it is further worse: nearly 75% of Bitcoins are CUSTODIAL so NOT YOUR KEYS NOT YOUR MONEY. I am in crypto since 2009, and observe how you guys are being degraded irreversibly, blinded by race for virtual money that you never reach. Nowadays classic true Bitcoin is only Monero. And recent Tornado Cash win on its subpoena leads you to right way. Remember, despite tiny tail emission, total coin supply of Monero remain less than total coin supply of Bitcoin till year 2040.

pet2pet1982

Let’s focus on the problem not on persons. NEVER I’ve receive rational or logical arguments. Always “crazy” or “clown” icons. Seriously? Ethereum game is over. It is a highly centralised and censored scam. Their “smart” contracts are now indistinguishable from embedded SQL database procedures due to total surveillance and censorship. Just replication added by a blockchain. Nearly 80% of coins are concentrated in the hands of Vitalik friends. The same situation has been formed around Bitcoin, but it is further worse: nearly 75% of Bitcoins are CUSTODIAL so NOT YOUR KEYS NOT YOUR MONEY. I am in crypto since 2009, and observe how you guys are being degraded irreversibly, blinded by race for virtual money that you never reach. Nowadays classic true Bitcoin is only Monero. And recent Tornado Cash win on its subpoena leads you to right way. Remember, despite tiny tail emission, total coin supply of Monero remain less than total coin supply of Bitcoin till year 2040.

pet2pet1982

Seriously? Ethereum game is over. It is a highly centralised and censored scam. Their “smart” contracts are now indistinguishable from embedded SQL database procedures due to total surveillance and censorship. Just replication added by a blockchain. Nearly 80% of coins are concentrated in the hands of Vitalik friends. The same situation has been formed around Bitcoin, but it is further worse: nearly 75% of Bitcoins are CUSTODIAL so NOT YOUR KEYS NOT YOUR MONEY. I am in crypto since 2009, and observe how you guys are being degraded irreversibly, blinded by race for virtual money that you never reach. Nowadays classic true Bitcoin is only Monero. And recent Tornado Cash win on its subpoena leads you to right way. Remember, despite tiny tail emission, total coin supply of Monero remain less than total coin supply of Bitcoin till year 2040.

cryptovigilant3

Definitely get it off the exchange, NOT YOUR KEYS NOT YOUR COINS! I recommend finding the easiest hardware wallet and on-boarding them to that. In my opinion the foundation passport is the easiest if for BTC only. If there’s a possibility of shitcoins then ledger.

Gale_DribbleIRL

Read the bitcoin standard. Look at the Bitcoin chart-zoomed out from the beginning until now. Listen to Michael Saylor. DO NOT KEEP YOUR COINS ON EXCHANGES. NOT YOUR KEYS-NOT YOUR COINS.

el_rico_pavo_real

Literally rule #1 is - NEVER ENTER/STORE YOUR KEYS ONLINE, OR SHARE YOUR KEYS

comp21

Just remember: if the US gov considers something a "strategic asset" then they can CONFISCATE it. now, more than ever, the advice of "DON'T STORE ON EXCHANGES/NOT YOUR KEYS, NOT YOUR COINS" is important to remember.

Professional-Fox-850

If you think the extra 0.28% is worth someone else controlling your BTC then go for it. But just search this sub about lending your coins out and you will see many horror stories of the ones that came b4 you. NOT YOU KEYS NOT YOUR COINS!!!

Soggy-Welder2265

NOT YOUR KEYS NOT YOUR COINS…………… Now I would not drop this and this looks like a automation reply so keep trying

AbjectFee5982

Did you not read what I wrote? Here let me remove a lot of it. RISK? What RISK. WHY THE F would there be risk. Why did you trust FTX with 1000s of dollar... I thought we told everyone/ crypto maxi Something something, remember mt. Gox, not your keys not your crypto. Never leave em on an exchange... Something something if you leave it on an exchange they can... Naked short it, gamble and lose, it's technically an IOU and if shit hits the fan like a bank wellll. But I guess everyone wanted Earn up to 8% APY on all your fiat and crypto. Bitcoin? 8%. Ethereum? 8%. Dollars? 8% Solana? 8% Dogecoin? 8%.... However because you let FTX/exchange hold your funds for whatever reason. You introduced that risk because that CRYPTO IS NOT YOURS WITHOUT YOUR KEYS And just like a bank FTX can gamble it. Make ponzi crypto. Etc etc. The moment you left it on the exchanges it was never yours. It was FTX OR or the bank.

bitcointwitter

coinbase = point72 highest hedgefund private controller = gamestonks naked shorted and lied to congress and changed their bankruptcy clauses in 2021. You get what you deserve. NOT YOU KEYS NO YOUR COINS.

speacon

binance sounds like a loser... why do they involve politics into cryptocurrency? and the obligatory: NOT YOUR KEYS? NOT YOUR BITCOIN.

castorfromtheva

Huh? If people weren't so stupid as to store their funds on exchanges, they would also benefit from bitcoin's censorship-resistance. But since they obviously don't understand this NOT YOUR KEYS NOT YOUR COINS thing....they have to have an expensive lesson... to finally understand.

rumi1000

DO NOT STORE YOUR KEYS IN A PASSWORD MANAGER  jfc it's 2024 and people still give this advice You can store instructions in a password manager and maybe a passphrase, but your seed should be stored offline at all times. Never enter it anywhere except in a trusted hardware wallet. Look into collaborative multisig with inheritance planning if you don't think yout heirs can handle the complexity.

coinreservewatch

I think there's a saying for this... It goes something like... NOT YOUR KEYS, NOT YOUR COINS Some people will learn the hard way.

Jaimehrubiks

It's funny when people say "not your keys not your Bitcoin", but then when they discuss about a fund or company, it doesn't apply? ITS THEIR KEYS, ITS THEIR BITCOIN Clients owe a portion of the underlying wealth, but not the Bitcoin.

chipsservant

Great summary intro for beginners. Only thing I’d add that is very common for beginners to get confused is that your hardware wallet doesn’t actually store your crypto. What is important is your SEED PHRASE, which your hardware wallet helps generate randomly. As long as you have this, you can restore your wallet on a different physical device even if your original one is lost/stolen/destroyed/etc. Anything stored on exchanges (aka purchased on an exchange like Coinbase and then not transferred to your own hot/cold wallet) is not in your custody and is not really yours (this is what people mean when they say NOT YOUR KEYS NOT YOUR COINS). It’s only truly yours when moved to cold storage. A lot of people learned this the hard way with the FTX fiasco. Welcome, good luck, DCA, and above all else - HODL!!!!!!!!

Pasukaru0

> So you are telling me that the 25th seed phrase wouldn't add an extra protection to a cold wallet I have not said anything like this. Again, I have not talked about hardware wallets at all. You did. But to be clear: Entirely depends on the hw wallet. Ledger for example stores the seed (essentially the mnemonic + passphrase) behind the pin. If a hacker breaks into that device then yes, passphrase did not offer any additional protection. Most other hardware does not storw the seed and requires the passphrase to be input manually after unlocking. In this case it dies offer additional protection. BUT AGAIN: A brute force attack against PRIVATE KEYS can be carried out regardless of what wallet you are using. Hardware, Software, hot, cold, doesn't matter in the slightest. The brute force attack would try to find a PRIVATE KEY, which can be used directly to spend UTXOs under its control. This key is a couple of steps down the road, mnemonic ans passphrase do nit matter at this stage. At all.

mrpotatonutz

Might want to air tag your keys if they’re your KEYS

SendMeDistractions

There was always one single piece of advice that everybody shared when I joined the community (10 years ago). NOT YOUR KEYS, NOT YOUR COINS Always use a self custody wallet. If your funds are on an exchange, they’re not yours and could vanish any time (hacks, bankruptcies, scams, etc…). It’s really sad to see all of the comments here just saying to hold and get rich. Bitcoin is supposed to be about decentralised financial liberty, not profits.

dave_your_wife

not your keys, not your coins. Keep your private keys stupidly safe OFF YOUR COMPUTER!!! I recently got my pc hacked and stupidly had my passphrase stored on my PC in in a text file.. - Yep they wiped out my life savings and I deserved it. I will repeat this for clarity - DO NOT KEEP YOUR PRIVATE KEYS ON YOUR COMPUTER!

Read-it_Lurker

Download Tails OS. Run it from your labtop. It has electrum built in. SAVE YOUR KEYS. boom you have a cold wallet that can go hot anytime. you can use presistance mode and keep the wallet on there. but if you dont save your keys your fucked... always... always save your keys

dontblamemeivotedfor

You don't really need a hardware wallet. Just get a cheap laptop or RasPi that you never connect to the internet, and run Electrum on it. The offline computer has your private keys and can sign transactions. You can then use any other computer with a "watch-only wallet" to view balances, create transactions, and transmit transactions. Just create a new wallet and import the public addresses (NOT THE KEYS) to that online computer so you can view the balances/UTXOs on those addresses.

JimboDTF

I wish Coinbase wasn't absurdly greedy by rehypothecating user funds. If they actually had the best interest of their customers in mind, they would go out of their way to make sure people know how to self custody their BTC. Its fucked, cuz if you have $250,000 stolen from your bank account, FDIC replaces it. But there isn't a goddamn thing insurance can do about stolen BTC. If you know how to properly store 12 words, then NO ONE can steal your BTC. Theres SIGNIFICANTLY more 12-word seed phrases than atoms in the Milky Way Galaxy. On the other hand, there's only a small handful of steps to hack into someone's crypto exchange account. Given those are a difficult handful of steps, compared to the 5,148,978,970,000,000,000,000,000,000,000,000,000,000 possible 12-word seed phrases, I think self custody might be the safer route, but im not a mathematician, so yeah... "NOT YOUR KEYS. NOT YOUR COINS." Sorry for your friends loss.

Realistic-Jelly8133

If you are choosing a multisig setup, you probably have a significant amount of Bitcoin that would be catastrophic to lose. If that's the case, invest in your security and just order the 3rd hardware wallet. You are complicating your setup and risking a lot by wiping one of the private keys to rely on the seed phrase alone. If you do decide to do a multisig setup, you absolutely must know what you are doing since there are some extra steps that could result in loss of Bitcoin. The most important one is: YOU MUST SAVE THE XPUBS OF ALL THE KEYS AND STORE THEM IN MULTIPLE LOCATIONS. Having a quorum of private keys is not enough to sign a valid Bitcoin transaction. You need the xpubs of ALL the keys. Sparrow or electrum does this under the hood for you, but if you need to restore the wallet, you will need ALL the xpubs to restore it

ProgrammerNo4662

ALWAYS REMEMBER, NOT YOUR KEYS, NOT YOUR COINS! NO ONE EXCHANGE OR ETF IS COMPLETELY SAFE, DO YOUR OWN CUSTODY IN COLD STORAGE SOLUTIONS! WITHDRAWAL YOUR COINS FROM DEX/CEX's

anonymous_sentinelae

That's only the absolutely most important very first thing you MUST do when creating a wallet:  GET. THE. FREAKING. KEYS.  > > > NO KEYS, NO COINS! < < < That's not something you ask for in a later point in life when you have no access to your coins anymore. The only answer to your question is: Refer to your keys backup.

Fickle_Discipline846

Hide the KEYS! 🤣🤪

JoeYo743

No. NOT YOUR KEYS NOT YOUR CRYPTO

JoeYo743

NOT YOUR KEYS NOT YOUR COINS. I would rather shove a cold wallet up my dog's ass and have him hold it than leave my precious coins in the hands of Coinbase

EndSmugnorance

NOT YOUR KEYS, NOT YOUR COINS! Feels like 2017 again!

DwightKSchnute

All these NOT YOUR KEYS NOT YOUR COINS comments and yet people are getting hacked left and right with Metamask🧐it’s a goddamn miracle if anyone is able to cash out with their gains this bullrun

Arnolds_Left_Bicep

1. Take your time, don’t stress too much, this is how you might make mistakes. 2. Don’t trust anyone whatsoever, do your own research, understand how this works more thoroughly. It doesn’t matter if you eventually get the access you need today or in 3 days or in 2 weeks. Result is the same. Best be safe and calm. 3. Try to find a verified, trusted expert preferably from an established and trusted source/company/organization. Offer them a specific payment if they can help you out, not 12BTC that’s insane, more like 0.5 BTC or something max which is still an absurd amount. I would personally just offer a nice dollar amount instead like $5000 or something to incentivize. DO NOT GIVE THEN ACCESS OR SHARE ANY KEYS. You want someone who will help you remotely and just instruct you what to do, not do it for you. Don’t meet up or share your personal information or location. 4. You’ve already made backups which is great. Double check them and just make sure you feel very secure in the integrity of your backups just in case anything goes wrong. Lastly I think it doesn’t have to be said again but I’ll say it anyway- do not trust anyone here on Reddit or elsewhere and for gods sake don’t even read a single DM.

SadGuru-

**WHAT IS BITCOIN -** https://youtu.be/IQHLpdWvyK4?si=TlPHlAR69AaJ9qDB In simple terms - https://youtu.be/41JCpzvnn_0?si=xf6OKidct1gx47iU **BITCOIN MINING -** https://youtu.be/BODyqM-V71E?si=pICeVFnLQ8NB1FDS **BITCOIN HALVING -** https://youtu.be/Ye9ckbN_lqc?si=T1V3w0FjdD_XbAox https://youtu.be/rT3szqSykVU?si=KYRvRAmiOw29YOsu https://youtu.be/OVCIhBEqgNE?si=BM3KXb425vZcnOAl **WHY BITCOIN AND WHY NOT ALTCOINS -** https://youtu.be/dO486Gfw9ds?si=CnMO6QVMHukuyGZV **NOT YOUR KEYS, NOT YOUR SATS -** https://youtu.be/opCOevmJAko?si=639clpoZ5EZTpPtf **HOW TO SELF CUSTODY -** https://youtu.be/z3n1uZrNvXo?si=_hJnOWFwQMuOu89K **STORE AND USE BITCOIN -** https://youtube.com/playlist?list=PLPQwGV1aLnTtAmzmz6uVE0kTKXtaGX1zY&si=J4hbumJ1uWWwkNwQ **BITCOIN TRANSACTION FEES -** https://youtu.be/GN6PmCqFikw?si=DQomg4JmDvPBt6Xw **CAN BITCOIN BE HACKED/BANNED -** https://youtu.be/AdqGXeCmit4?si=7P3e6xxN7SvLAPim **51% ATTACK -** https://youtu.be/ncPyMUfNyVM?si=cYz22NYhmh5JykY5 **OTHER RESOURCES -** https://youtu.be/5JDrK7sP3gA?si=yZ6OU5hhK4yf7Fer https://youtu.be/MMPxSdT013M?si=7DXQA5T2Cy0dbJ6p https://youtu.be/_0NOJhTy4MQ?si=s5sfLQUuCo7b9Ghe https://youtu.be/Vfq7LNDCdNQ?si=aq5Vn7Gu0zoD-qk6 https://cointelegraph.com/news/bitcoin-only-buy-and-hold-investment-strategy-outperforms-altcoins-over-the-long-term-analysis-shows https://blockworks.co/news/can-blockchains-beat-bitcoin-security https://bitcoin.org/bitcoin.pdf The Bitcoin Standard: The Decentralized Alternative to Central Banking (Book)

Timely-Opportunity-5

What were we saying? NOT YOUR KEYS - NOT YOUR COINS

fverdeja

A great reminder to not trade and HOLD YOUR FUCKING KEYS!

TheCryptoAccountant1

Stay humble, stack sats, NOT YOUR KEYS !!!

veganbitcoiner420

no bitcoin maximalist will ever say holding your keys with anyone is smart because every true bitcoin maximalist knows: NOT YOUR KEYS NOT YOUR COINS if you give your bitcoin to swan there is no proof they have it. if swan collapses your bitcoin is gone. withdraw your bitcoin to a self custody wallet.

joemamma2

The issue is not who is a whole coiner but more, how many "think" their stacking SATs and are whole coiners when they leave it on an exchange. NOT YOUR KEYS, NOT YOUR COINS! You will never be a real owner unless you have a private key which actually validates your SATs. You'll never be able to do that unless you self custody

JoeYo743

NOT YOUR KEYS NOT YOUR CRYPTO. What you own is shares in the United States public stock market in a company that represents holding Bitcoin. Each are unique functions, definitely not the same as holding and owning Bitcoin. Sending it from one wallet to the other. Paying for services with it. Using it for smart contracts. Etc...

Old-Cardiologist-545

You should DCA (dollar cost average) your money into bitcoin. I would recommend to buy as much as you can as soon as possible because it’s like a gold mine right now but as soon as the halving comes I. April it’s gonna go nuts and you would’ve wished you’d bought more. If I was you I’d probably invest every week/fortnight. Just make sure to take custody… NOT YOUR KEYS NOT YOUR COINS (don’t use exchanges… remember FTX for instance). Stay safe out there and good luck on your journey to financial freedom.

KindlyPlatypus1717

I don't know why I'm getting downvoted... oh wait, I do, its the globalists cronies doing it and/or the brainwashed sheep defending the mainstream. To give some value, I'm telling you to OWN YOUR KEYS AND PUT YOUR SHIT IN OFFLINE WALLETS. Thank me later or keep living in denial.

Base-Salty

You say you’re afraid of self-custody, but did you see on the prospectus that they do not have to return your funds if there are any changes in laws or regulation? Not a non-zero chance, and definitely something I wouldn’t be comfortable with if I threw in 100% of my savings. NOT YOUR KEYS, NOT YOUR COINS.

YoAmoAlAmerica

You have “some exposure” to the asset. But NOT YOUR KEYS = NOT YOUR COINS 🤦🏻🤷🏻‍♂️ 🤣🫵🏼 nocoiner

bullett007

Check out Atomic.Finance, you control your KEYS and your RISK. They use DLCs to buy Options, should your position exceed strike price at expiry you yield sats. If it doesn’t, you lose sats. There’s more to it than that’s but that’s the basic gist of it.

Admiral_Narcissus

No, you need to keep it on pad of legal paper labeled BITCOIN KEYS in a mouse infested house on a particle board book shelf next to your high school bowling trophies.

RiceDogo

He wrecked just like the turds who refuse to purchase a cold wallet or find it difficult to just keep the phrases. NOT YOUR KEYS, NOT YOUR COINS

clue5tick

Looks like Coinbase or their assigns will HOLD THE KEYS. We'll have to wait until governmental approval to find out.

Shamgar65

I moved everything off exchanges and I feel so stress free about all this news. NOT YOUR KEYS NOT YOUR COINS!

SkyJebus

This is a shit take, if that's the case, did you plugin your hardware wallet to set it up? HOT WALLET = KEYS ON PC = STOLEN CRYPTO ... USER STUPUD!

DrySeaweed4897

REPEAT REPEAT REPEAT: “NOT YOUR KEYS NOT YOUR COINS” learn from other people’s and our own mistakes!

USBANKLESS

For the people in the back. NOT YOUR KEYS NOT YOUR BITCOIN

ClearSnakewood

Oversimplification blablabla… NOT YOUR KEYS, NOT YOUR BITCOIN! Burn it in your brain or get REKT. MANY have gotten their rectum ripped apart by disobeying this rule … You’re just next in line.

BraidRuner

[KEYS.LOL](www.Keys.lol) did it first and did it best.

NYKNYb

Unchained KYCs newbies and sets them up with a multisig wallet. When they go out of business, I hope the poor sods know how to operate this complicated setup by themselves. By the way, multisig is unsafe and absolutely not suited to newbies. If you lose the XPUB and only have 2 of 3 you are SCREWED. You need ALL THE KEYS that were used to create the wallet to recreate the XPUB. It really cracks me up that Odell and other "OJs" shill this KYCed service 🤡🤡

JustinPooDough

God people on here are naïve as hell. Yes, you can easily prevent the government from taking your bitcoin from you. That being said, the U.S government can just lock you in a cell where you'll have years to bang your head on the wall, repeatedly yelling "MY KEYS MY COINS! MY KEYS MY COIIIIIIINNSSS!!!". Here is a relevant story: [https://www.cbsnews.com/news/treasure-hunter-tommy-thompson-jail-6-years-gold-coins-hearing-ingot-auctioned/#:\~:text=U.S.%20marshals%20tracked%20him%20down,the%20gold%20coins%20is%20resolved](https://www.cbsnews.com/news/treasure-hunter-tommy-thompson-jail-6-years-gold-coins-hearing-ingot-auctioned/#:~:text=U.S.%20marshals%20tracked%20him%20down,the%20gold%20coins%20is%20resolved). So yes, you can keep your Bitcoin... as long as you are Ok with shacking up in a cell with Bubba the Butt Blaster™. Until FrankenBiden gets what he wants.

Bruno_Alejandro

You have never experienced the fear of not been able to take your coins out of the exchange, don't you? You can say whatever you want but exchanges denied coins to customers all the time, specially if the rules/laws change or they get hacked (happens alot) , they can easily take everything from you... You are not a target for hackers, exchanges are... maybe a scamer but that would be on you if you get fool. Follow the community guidelines on how to keep your private keys save and remember NOT YOUR KEYS, NOT YOUR CRYPTO!!!

Jon1323

Not your KEYS, not your CRYPTO.. Nough said!!!

Amber_Sam

Are you happy to give your bitcoin to someone else? I can promise 20% or 30% if 20% isn't enough. How about 50% per year? Sounds great? Send me all your sats. **NOT YOUR KEYS, NOT YOUR CHEESE**.

ROBINHOODEATADIK

I also feel bad for those who trusted FTX with their funds ( tho there’s that mantra we all should remember … NOT YOUR KEYS NOT YOUR COINS ) but let’s not forget how many others lost money due to the ‘contagion’ that spread after the FTX debacle ..!!! The FUD … the sell offs … the fact it gives Gensler more leverage to attack the sphere …. SBF FKD many more than just the clients at FTX and I hope that fat prick Roy’s in prison with the lonely cell mate giving him the same treatment he gave the entire crypto sphere

necroscope0

You don't though. If you did have the keys you would not need Binance to LET you move YOUR Bitcoin. I will say it slow since you are not getting what everyone is saying. YOU DON'T HAVE ALL YOUR KEYS IF YOU CAN NOT MOVE THAT SHIT BY YOURSELF

Main_Departure_5841

Dude what are you talking about I HAVE LITTERLY ALL THE KEYS PASSWORDS AND 2fa and still they dont let me withrawal !!! I am out of hope

SetoXlll

Once again in all caps! NOT YOUR KEYS NOT YOUR CHEESE! Wake the fuck up people!

HornetsnHomebrew

Say it with me: NOT YOUR KEYS. . .

emyfsh201

I just read that PayPal can FREEZE your account and can also wipe assets. This is a very dangerous precedent and is against everything that crypto stands for. Imagine having your funds wiped out because someone at the admin felt so. NOT YOUR KEYS, NOT YOUR COIN.

SetoXlll

So many noobs don’t understand, NOT YOUR KEYS NOT YOUR CRYPTO!

samzi87

You are not shouting it loud enough: NOT YOUR KEYS, NOT YOUR CRYPTO! Seriously tho, it baffles me when I read from people here that are into crypto for years and finally just now bought a hardware wallet. FTX should have delivered the message pretty clearly, take your crypto off exchanges, you never know if your stuff is even backed by real funds behind it as long as you leave it there.

100not_Satoshi

Someone say the phrase: **NOT YOUR KEYS...**

loksfox

I would advise you to buy a trezor, there was an update to ledger where it introduced the ability to decrypt your seed, THEY HAVE YOUR KEYS. I don't think management at Ledger fully grasp what they've done. They've destroyed their credibility. The entire point of a hardware wallet is that the device locks keys in it, with no way for anyone on the outside to extract them.

jaydub1376

Always makes me chuckle as someone who in real life CAN NEVER FIND MY DAMN KEYS!!!!

Backwood20

Nothing.. what is lost is lost. SAVE YOUR PRIVATE KEYS!

EveliaAvila

>Were they using their FTX account as a wallet instead of something like metamask? Because many people still think their money is safe and they own their coins when they leave it at an exchange, which couldnt be more wrong. These are the people that lose their money and learn the HARD way, NOT YOUR KEYS NOT YOUR COINS.

poor_doc_pure

If you can afford it a cold wallet is the way to go. You can write down on paper your private key the words of your wallet and just keep them in a safe place that you only know about not your wife not your kids not anyone else only you The most well known wallet for BITCOIN ONLY is electrum it's free and open source. https://electrum.org/ As long as the coins remain on the exchange they are never truly yours, it's kind of an IOU, as long as things don't get turbulent and you have provided kyc for your account The exchange will be able to give you your money but as long as your coins remain on the exchange they are never truly yours. Check out this video to find out why self custody is important. NOT YOUR KEYS NOT YOUR COINS https://youtu.be/AcrEEnDLm58?si=sVudxU68HLf1F3ky

UhhhmWut

Friend… that word “Trust” is what got us here. To forego Bitcoin’s properties for a paper receipt for BTC price exposure (at a fee, no less) is to miss the point entirely. HOLD YOUR OWN KEYS.

Kelinya

As always, with custodial wallets: "NOT YOUR KEYS, NOT YOUR COINS!"

LatinumGirlOnRisa

if it's true, if he's not a scammer himself who's been playing the long game [because, he might have fans/a following/defenders but how was it confirmed he really lost 50k worth of crypto?? because that is a COMMON scam as well because grifters know there's always a segment of the community who will believevthem..ALWAYS.. and many grifters are *very* convincing over the long term & they also know how to create convincing files to make it LOOK like funds went out so their defenders can have 'proof.' some of them have also done this repeatedly, even without changing their public name..but definitely there are name changers, too but who don't actually always change their appearance! and that guy, he's supposed to be an *experienced* crypto influencer?? and no doubt he DOES have defenders, believers who will donate to his cause which scammers count on. because there are always such people who are not careful, are susceptible to the cult mentality and they will always *lose their minds* whenever there are even reasonable concerns about their favorite coin or influencer.😐 but otherwise?? that kind of cautionary tale is EXACTLY WHY the SECURITY STANDARD IS to NEVER STORE YOUR SEEDS, PRIVATE KEYS in DIGITAL/ELECTRONIC FORM ever!!🙄 but this guy did exactly that?

mad_king_soup

It’s also easier for the ETF to collapse and take your money with it. NOT YOUR KEYS

EdgeLord19941

Meanwhile those people: WHERE THE HELL ARE THE KEYS

IForgetHowToRead

Oh definitely! I suppose BRICKs are ahead of the game there. Perhaps Team Fortress 2 could have $KEYS for example, based around their own terminology.