Getting Off Zero

The most important aspect to bitcoin is self sovereignty. When you take custody of your keys, nothing can stop your ability to transact or travel with your wealth. You can literally travel the world with your funds by remembering a string of words.

Steps to Purchasing Bitcoin

1

Choose a Wallet

1

Choose a Wallet

Wallet Details

A wallet contains your private keys which create public addresses to send/receive and your private keys allow you to sign a transaction before submitting to the ledger.

Your keys are represented by a 12- 24 word mnemonic string. Your keys can be held in a software app thats connected to the internet or a hardware wallet that has a gap between your keys and the internet.

Wallet Options

MUUN WalletRepresents the next generation in bitcoin wallets providing  integration of lightning & on chain transactions and very simple security/ backup methods. Use this for small amounts/daily spending

Blue WalletA very intuitive and straightforward bitcoin soft wallet for the phone or desktop that also provides separate lightning wallets and connects to your home node.

Ledger Nano XA bluetooth enabled hardware wallet for securing your bitcoin. Use this to secure large amounts of bitcoin that rarely need to be accessed. 

2

Convert Dollars to Bitcoin

2

Convert Dollars to Bitcoin

Exchange Process

Bitcoin exchanges are places to buy bitcoin in exchange for other currencies. Typically the most convenient way to acquire bitcoin, these centralized services require identity verification and are funded through your bank.

Decentralized or Peer to Peer services allow bitcoin acquisition without identity verification and can be done in person or online.

Usually 3-5 days hold are required before you can remove your bitcoin due to processing and chargeback limits.

The bitcoin market runs in nearly every major currency and 24/7 x 365 days a year. Bitcoin never sleeps.

Exchange Options

Cash AppDigital checking account and bitcoin wallet. Its a custodian but you can withdraw your bitcoin in small increments. This is a very convenient option for getting started with small amounts.

Coinbase – or – Coinbase PROthe largest exchange for cryptocurrencies. Easy to set up and use but the fees are important to consider. The PRO version saves considerable on fees but requires a greater understanding of limit & market orders.

Swan BitcoinA bitcoin only exchange that focuses on DCA (dollar cost averaging). Its impossible to time the market perfectly so SWAN allows you to set daily, weekly or monthly purchases that average out the volatility. Their service will automatically purchase and automatically transfer to your hardware wallet.

Crypto.Com Another custodian that allows withdrawals but also serves many banking features such as debit cards, cash back rewards and interest bearing accounts.

3

Take Custody

3

Take Custody

How to Take Custody

Bitcoin allows you to custody, transfer and travel with your funds at purely your discretion. There is no central authority that may restrict or reverse your transactions. Once you have your 12/24 word keys securely saved for your wallet, you need to generate a bitcoin address, similar to an email address. A bitcoin address is 25-35 alpha numeric characters that begin with bc1 or the numbers 1 or 3. Now use this address to send your bitcoin from the exchange that you purchased from.

It is important to remember that bitcoin is a digital ledger with thousands of copies worldwide. When making this transfer and taking custody, you are simply assigning this portion of the bitcoin ledger to your personal keys vs the custodian that you purchased from. 

Keeping your coins on an exchange or with a custodian poses counter-party risk with little to no recourse should something go wrong. We encourage everyone to TAKE CUSTODY!