4 things to do to begin accumulating bitcoin

by | May 13, 2023 | Homestead Trees & Bushes

4 things to do to begin to safely accumulate bitcoin

  1. Basics – this can be controversal but these are the basics I am going off of
    • Bitcoin is for getting out of fiat money and into hard strong money
    • Bitcoin is the best, gold is probably next best
    • Bitcoin is the best money ever invented
    • Bitcoin is not private, the chain is public
    • Bitcoin is secure, just don’t keep it on an exchange very long
    • You have to be your own bitcoin banker, you must manage your own keys/codes, if you loose them you will loose all your money, there is no one that can “reset” your “wallet keys”
    • Exchanges & platforms – when your bitcoin is on an exchange or platform, they can help you with with their exchange or provider password reset but cannot protect your bitcoin on their exchange or provider from company collapse or government lockout, this why the underlined comment below comes from
  2. Use this link as a reference guide https://thebitcoinbreakout.com/bitcoin-tools/
  3. Listen to the Basic episodes of Guy Swann on Bitcoin Audible podcast – especially #1 & #7
  4. Get a wallet
    1. If you get more than $2000 in bitcoin, you will need a hardware wallet but you may want to learn how to use wallets with free software wallets
    2. If using a soft wallet – I recommend Exodus – https://www.exodus.com/ – do not let any bitcoin over $50 stay on an exchange or provider longer than a week or two
  5. Store your key words on paper and even metal rings in a safe – do not save your key words in google or computer file
  6. If you want to earn small amounts (0.5% to 1.0%) of bitcoin from your regular debit card spending – Sign up for a FOLD card – see details below – https://use.foldapp.com/r/FCXHAKEK

 

 

  1. Fold – more details
    • before you sign up you need to understand a few things
      • this app will connect your bank account to the FILD debit card
      • this app will ask for your bank login and password … so if you have lots of money in the bank I don’t recommend using that account, you can ask your bank if you can have a checking account that uses a separate login & password or you can use a different bank account that has less money in it.
      • remember that you will need an easy way to put money into the bank account to cover your FOLD debit charges
    • use the FOLD debit card for purchases
    • use this link to sign up https://use.foldapp.com/r/FCXHAKEK