Getting Started With Bitcoin

Why Bitcoin?

The value of money comes from its scarcity. When the supply is increased, its value declines.

Bitcoin is inflation-proof money for the digital age. It’s global, 24/7 and open to everyone.

1. Get A Wallet And Load It With Bitcoin

Mobile/Desktop Wallet: Blue Wallet (bluewallet.io)

1. Download the app and create a new bitcoin wallet
2. Purchase bitcoin within the app via MoonPay

Hardware Wallets: Trezor and Cold Card

1. Buy a Trezor via the Bitcoin Magazine store
2. Go to trezor.io/start to onboard
3. Purchase bitcoin directly within the interface
4. Alternatively, buy a Cold Card and onboard via coldcardwallet.com/docs/quick

• Other hardware wallet options from our store include the CoolWallet S and the Ledger Nano X.
•  There are other ways to purchase bitcoin, including through a bitcoin ATM — you can check out this map to find the closest ATM where all you need is cash, an ID and a phone with a mobile wallet app.
• The methods for acquiring bitcoin differ in important ways and you should always consider what personal information you’re disclosing.

2. Protect Your Seed

Your seed phrase is the key to recover your funds on-chain if something happens to your hardware. Use a notebook or a metal Billfodl to keep your private keys safe.

1. Make two physical copies of your seed phrase using a pencil and paper
2. Stamp your seed phrase into a steel plate to protect against fire, water or other damage (you can get the necessary equipment at bitcoinseedbackup.com)

• Remember, if you lose your seed phrase, you’ll lose the ability to access your funds if something happens to your bitcoin wallet. Reveal the key to someone else and they’ll also be able to gain access. You should have a clear seed recovery plan and regularly test your process.

3. Buy/Save Bitcoin

Purchasing bitcoin on a recurring basis (also known as dollar-cost averaging) is a way to reduce short-term price volatility. Saving in bitcoin versus in cash is a long-term strategy to protect your wealth from debasement.

Here are some portals to help you dollar-cost average into bitcoin:

U.S.: Cash App (cash.app), Swan (swanbitcoin.com),

Canada: Bull Bitcoin (bullbitcoin.com), Shakepay (shakepay.com)

EU: Relai (relai.ch)

U.K.: Coinfloor (coinfloor.co.uk)

Australia: Amber (amber.app)

• Always use a wallet that generates a fresh receiving address for each payment, otherwise the sender will be able to see your balance.
• Don’t have any extra capital for buying bitcoin? No problem! Some free apps you can use for earning bitcoin include Carrot, Lolli and Fold.

4. Get a Full Node

This is an optional step, but it is widely considered the best way to use Bitcoin. Full nodes maintain a complete copy of the Bitcoin blockchain, while enforcing the network’s rules. They can independently validate, broadcast and relay transactions, without trusting any third party.

Full Node: Umbrel

• Buy node hardware here or via getumbrel.com
• Follow setup guide and download Umbrel OS
• Sync your node to the Bitcoin blockchain

5. Avoid Scams

Make sure to avoid scams. Don’t fall victim to phishing scams (via email) or giveaway scams (via Twitter, Discord, etc.). Never type your seed phrase into a web browser or in an email. Never send bitcoin to someone promising you a return, not even Elon Musk. For more information, check out our selection of educational books. 

Enjoy your new bitcoin set up!