Due to the number of questions I've been receiving about Bitcoin from friends and family, I decided to build a page to compile all I've learned.
I am not a financial advisor, and this is not financial advice. No one endorses me. Any product I recommend is because I've used the product.
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A Bitcoin wallet address is a digital address, made up of letters and numbers, that you use for sending and receiving Bitcoin transactions. In just the same way that an email address is used to send and receive emails, a Bitcoin wallet address is the digital address from which you send and receive BTC.
There are hundreds of options of Bitcoin wallets on the market. To help narrow down your choices, these are the wallets I've used and recommend.
BlueWallet supports various Bitcoin wallet implementations, BIPs and different integrations with external services. You can easily import any wallet with our wallet recovery and import feature.
Coldcard is an easy to use, ultra-secure, open-source and affordable hardware wallet that is easy to back up via an encrypted microSD card. Your private key is stored in a dedicated security chip. MicroPython software design allows you to make changes.
One Bitcoin is equal to 100,000,000 Sats (Satoshis), and it's possible to accumulate Bitcoin as little as a single Satoshi. Many reward programs use Sats as the rewards mechanism. Below are my favorites.
The Fold App is one of my favorite things about Bitcoin. It's an early indicator of the great software that is currently running on the blockchain. The Fold App is a fun way to earn Bitcoin with everyday purchases. You get a percentage of sats (sats = Satoshis, Bitcoin is equal to 100 million Satoshis) on every purchase. You have a chance to with a Bitcoin with a spin of the wheel on purchases. The app also has a daily bonus wheel that keeps me coming back. I use this now as my primary debit card.
Lolli gives you free bitcoin or cash when you shop at over 1,000 top stores. Lolli partners with top stores that pay us when you shop. Once you make a purchase, merchants pay us, and then we pay you, sending you free bitcoin or cash to your Lolli wallet.
Like gold, bitcoin cannot simply be created arbitrarily; it requires work to "extract". While gold must be extracted from the physical earth, bitcoin must be "mined" via computational means.
Bitcoin also has a stipulation—set forth in its source code—that it must have a limited and finite supply. For this reason, there will only ever be 21 million bitcoins ever produced. On average, these bitcoins are introduced to the bitcoin supply at a fixed rate of one block every ten minutes. In addition, the amount of bitcoin released in each of these aforementioned blocks is reduced by 50% every four years.
Bitcoin Fundamentals is a collection of episodes hosted by Preston Pysh on We Study Billionaires, the flagship podcast of The Investor’s Podcast Network with more than 40 million downloads.
Robert Breedlove talks about all the common misconceptions that new investors to Bitcoin face. This is a great discussion for anyone skeptical of Bitcoin to listen to.
If you've found this page useful and you'd like to send me a tip, I hope you learned how to send Bitcoin! Thank you for taking the time to thank me!