BaconPDX on Nostr: Depends on your interests in and with bitcoin. Coinbase and other exchange wallets ...
Depends on your interests in and with bitcoin.
Coinbase and other exchange wallets are custodial. Custodians hold the keys, you don’t. Most of us believe: Not your Keys, Not your bitcoin.
Self custody is when you move your bitcoin off an exchange and you start to interact with the Bitcoin Network.
Various software wallets are available depending on your location, platform(s), and commitment to bitcoin. Many (most) software wallets operate in conjunction with public nodes, some with private nodes, the best operate in conjunction with a node you run.
Hardcore bitcoiners run a node and are not dependent upon another’s node. They also use “hardware wallets” for offline cold storage separating their private keys from the internet which adds complexity and also increases security.
Have a look at Jameson Lopp (npub17u5…t4tp) ‘s website to help guide you.
https://www.lopp.net/
Coinbase and other exchange wallets are custodial. Custodians hold the keys, you don’t. Most of us believe: Not your Keys, Not your bitcoin.
Self custody is when you move your bitcoin off an exchange and you start to interact with the Bitcoin Network.
Various software wallets are available depending on your location, platform(s), and commitment to bitcoin. Many (most) software wallets operate in conjunction with public nodes, some with private nodes, the best operate in conjunction with a node you run.
Hardcore bitcoiners run a node and are not dependent upon another’s node. They also use “hardware wallets” for offline cold storage separating their private keys from the internet which adds complexity and also increases security.
Have a look at Jameson Lopp (npub17u5…t4tp) ‘s website to help guide you.
https://www.lopp.net/