Ask (and reply!) away! Listed here are the overall guidelines:
* If you would like to be taught one thing, ask.
* If you would like to share data, reply.
* Any query about Bitcoin is truthful sport.
And do not forget to take a look at /r/BitcoinBeginners
You possibly can type by new to see the newest questions that might not be answered but.
13 thoughts on “Mentor Monday, November 14, 2022: Ask all of your bitcoin questions!”
What is the best way to buy Bitcoin, take custody, and store it securely?
Is there any degree of opsec risk to entering one’s recovery seed in a software wallet (Blue wallet) to test said recovery? I alway use a VPN but it felt taboo to enter the secret words on my device. Just curious if this is at all a known risk / attack vector.
Female First time buyer – uk based
I’ve shortlisted these platforms: revolut / PayPal / eto eo and coinbase (I have created a wallet).
Any advice for my specific situation
I’m just getting started in P2P buying. I read on a thread here that in moving from buying on a KYC exchange to P2P, it’s not a good idea to mix KYC purchased sats with non-KYC purchased ones on the same receiving address. I would like to use one wallet for everything – would doing a coinjoin / mixer / whirlpool on all assets ostensibly “obscure” the KYC-purchased assets?
Large amount of collateral on BlockFi – seeking guidance
I made the ultimate mistake of not holding my own BTC and it looks like I’ve paid the price by collateralizing a loan through BlockFi using bitcoin. That being said, I have the ability to liquidate a portion of current collateral to pay off the loan in entirety, but I am unsure if they are even returning remaining collateral.
I am seeking guidance from those more educated in this space. If I liquidate, what happens to my remaining collateral? If I don’t liquidate and BlockFi files for bankruptcy, what happens to my debt and my total collateral? Is there any hope of its return through litigation in the long run?
Any guidance is greatly appreciated – and take this as a lesson for those more fortunate: not your keys, not your coins. It’s just not worth it.
Looking up my wallet address on blockchain .com and a transaction from 6 hours ago is still listed as unconfirmed. Why would a posted transaction take so long to confirm?
Is there anything that backs bitcoin?
Safe cold storage-? Is ledger compromised? Cold card best? Tia
Posted this on daily thread, but probably belonged here. Any insight would be appreciated.
Question on whirlpool. Is there any guidance on how many times it is recommended to mix before going to cold storage? Sparrow defaults at 3, but wasn’t sure if there is reasoning behind doing it X amount of times for better privacy. (Looking for a bit more guidance than “the more the better”.)
I use a ledger. I keep seeing the words “multi-sig wallet”. What is that?
I need to convert a fair amount of DAI to BTC. It looks like KuCoin can do those kinds of transactions, so I was thinking about using KuCoin, but I wanted to get opinions on other options.
Given the current events within the crypto space, is KuCoin a good choice for converting DAI to BTC, then moving the BTC to an external wallet, or would another exchange be preferable?
Also, at KuCoin it looks like a non-KYC account can do up to 1 BTC per day in withdrawals. Since I want to minimize the time my funds are on an exchange, if I do this process every day over several days, would I be able to do that without any issues?
I emailed KuCoin support, but I don’t know how much help that’s going to be.
Will BTC gonna make a comeback after all this stuff?