How to Buy and Store Bitcoin (The Right Way)

[@Bitcoin_University]

WARNING: There are a number of scammers who are using my image and channel name to try to connect with my viewers on WhatsApp and other platforms to scam them. Just so you know, I will never refer you to "my personal trader" or try to connect with you personally to sell you something. I am trying to ban these scammers as quickly as they pop up. You can always recognize a scammer by clicking on the image and seeing how many videos he has. All of these guys have zero videos, while I have hundreds. I also now have a checkmark next to my name, so that you can distinguish the real Trader University from the imposters.

[@HRH-pn2qe]

It took me much much longer to absorb the bitcoin model you sent me. I’m talking like 5 hours a day easy. Model is good, makes sense. Your long term target is justified.

[@Dr.refocus]

TREZOR IS FUNDAMENTALLY FLAWED. Please do not use Trezors -- kzbin.info/www/bejne/bKGupnuPrNd6obc

[@JanPBtest]

You may also point out that in general the name of the true owner of a YT channel appears highlighted in reverse B&W. Scammers cannot do that, they can only copy the name.

[@morteza1024]

US government can destroy bitcoin forever and it's gonna cost only $200 billion which is a third of military budget.

[@SrChalice]

Why the hell would anyone buy a damn thing on Robinhood. Robinhood is owned by the same billionaires that were caught up in that GameStop hustle vs Reddit. The billionaires own the actual platform that you trade on. This is why they can put a stop to trading whenever they want, that benefits them. It's funny how people are not very educated on these things. We also really need to stop calling Bitcoin decentralized, because it NO LONGER IS!

[@ttocselbag5054]

Thank you Matthew. I’m a seasoned crypto in investor (using a Trezor) sine 2015, and I learned this discipline a long time ago, but this is an excellent primer for newbies on the importance of securing your private key(s).

[@fusion9619]

Looking forward to seeing your Blockstream Jade guide. Also, viewers might like an analysis of the Liquid network.

[@davisboyd6644]

Ditto. I would love a liquid network video

[@이경-f8y]

Honestly Blockstream/liquid is an exploitative network. Sucking nodes into liquid to profit off them later. Prefer staying on Lightning.

[@ikust007]

Totally agree

[@ikust007]

@@이경-f8y interesting point. Hope he would talk about that.

[@kims144]

Matthew, You are no-nonsene one of the best teacher on YT. A lot of hype and noise on YT. I am learning tons everyday from you. I would love to learn and take your university courses hopefully down the road.

[@anaestereo810]

Oh great! So i have no excuse to procrastinate anymore now.... Thanks!

[@kidu3537]

Such a helpful video! I am so glad you recorded the procedure, Matt. EVERYBODY keeps asking me how to buy and store BTC properly. Now I can send them to this video. Thanks!

[@YM-wj2dr]

1:28 - Regarding taxes, if you hold off selling your Bitcoin for one year, tax will be way less.

[@Jdwagner17]

Matt, a modern day prophet. Good morning.

[@Bitcoin_University]

Satoshi was the real prophet.

[@Jdwagner17]

@@Bitcoin_University His great sacrifice for man seems analogous to maybe someone greater than a prophet.

[@Jdwagner17]

@@beefquiche Satoshi owns a lot, but not the majority. The “deep state” owns the money machine now, and the rules can change at any time. Bitcoin follows laws of nature, in a way. The will of one person can not change it. Bitcoin is a Trojan horse, but it delivers equality and freedom of opportunity.

[@Bitcoin_University]

@@beefquiche Not true. Satoshi was clearly an enemy of the deep state. The deep state's surveillance is what all of the cypherpunks were fighting. Bitcoin is our only hope to fight central banks and CBDC's.

[@richg657]

@@beefquiche can you elaborate on how it's a deflationary asset?

[@DeRothschild]

Thank you for sharing your invaluable knowledge.

[@Lexuskia]

I am going to buy my first wallet, and would like to see your comparison between the Blockstream Jade and a Trezor, any idea on timing ?

[@my2sats260]

Thank you again - your channel is much needed🏆

[@valeriocafiero]

This video motivated me to invest in my first cryptocurrency!

[@alabhyajindal]

Hi Matthew, what about the downsides of buying from an exchange where KYC is mandatory?

[@charlesvincett84]

Thank you for this video. I took your advice and the Trezor worked well and easily. Grateful for your advice.

[@CryptoCircuitStudio]

Brilliant video, you nailed every detail. I’ve been trying to follow this format for my own channel.

[@handystoic]

Where do you store your seed phrase? Safety deposit box? What if something happens to you? How do you make sure your family gets your coins?

[@Music-my7kx]

Steel tablet or steel capsule

[@Retro932]

this right here is the best video yet. thank you.

[@johnnymidas5879]

AWESOME INFO!!.. THANKS BROTHER.😎👍🌴🌴

[@Bitcoin_University]

Glad that you found it helpful, Johnny.

[@minionkevin6623]

Awesome!! This is exactly what I needed! Great info. Thanks man!

[@ebroebro1]

Great vid. Wish I saw this when I was figuring it all out the old school way. Made me think about reconsidering my choice in Ledger but it has served me well over the last few years.

[@creeptokid6733]

Very important topic ☝️

[@WeeRockToyCo]

Matt. Thank you again for your information. I commented on yesterday’s video - can you cover multi-sig storage?

[@Casey_Smith80]

Could you do a follow up on the Blockstream Jade?

[@petejames4672]

Would you also recommend a yubikey ?

[@alltheruss]

it would be a personal choice as the trezor mod. t also can do u2f if needed for sites and such.

[@butmunchass]

I have one and would recommend it.

[@namelastname2449]

Thanks Matt

[@geronimo3736]

Hey Matt, really good video per usual. Could you go more in-depth for Blockstream in a future video? Looking into hardware wallets soon so I’m curious on how it matches up vs Trezor, etc.

[@Bitcoin_University]

Yes, definitely.

[@SailingIndependence]

I'm very curious too. Specifically on the security chip vs open source aspect.

[@SailingIndependence]

@@Bitcoin_University I'm curious about this as well. My copied comment on yesterday's video - Not so sure about the Jade wallet after finding out how they work around the 'secure element' issue. Seems like sensitive info is sent to their central server upon initialization of the device? And then possiblyreaccessed for transactions? A lot of it is over my head but I don't like the sound of it. Review link in my reply to this comment.

[@CorwinYoutube]

@@SailingIndependence Yep, I also have an issue with the Jade as well. Same with my info possibly being leaked during the Ledger customer info hack a while back. Dropped the Ledger and bought a fancy Trezor.

[@SailingIndependence]

@@CorwinKZbin If your info got leaked in the ledger hack, you'd know - trust me..

[@sergiootero5904]

Thoughts on a cold card wallet?

[@Savannah-ed4rv]

I guess I need to get my bitcoin off of coinbase. I had no idea of the problems leaving it there and your video is very helpful. Question: How do I fund the Strike app? By wiring dollars from my bank account? Thanks for all your information.

[@TravelingMissD]

This is very helpful, thank you for sharing so much with us.

[@nothinghere1996]

In fairness if you are not a trader and want to keep long time, the very safest way to store bitcoin is in your head, with the 12 pass words backed up on paper, or an electronic signature or written into a book. No technology is 100% because of design errors, bugs, hacks, theives and hardware degradation. How to remember 12 words? Create a story in your mind with each word attributed to an image. gong rabit sun sofa hurt major...etc. imagine a giant gong being struck by an inflatable rabbit which hurtles off out to the sun which spits out a lime coloured sofa crying because of a rip in the seat cushion which hurts. A major sits on the sofa while... etc. The more profound the story, the mire outrageous the images, the easier it is to remember. Recalling the story reinforces the memory. Worth the effort.

[@EnkhturDamdinjav]

Subscribed. This is exactly what I was looking for! The explanations are being conveyed in a calm and thoughtful way, very good! Thank you for this!

[@larsvongraff5794]

Somewhat of a sidebar Matt but I believe germane to the overall discussion ... people I have spoken to in depth about Strike have told me that the number 1 problem with the platform is the limits on deposits in order to purchase. This despite the non-stop communicating with their support dept back and forth to get limits raised. BTC will be at valued at 1M before you could even get to 1 BTC purchased. Just so your audience is aware that this may cause some level of frustration.

[@only_visiting]

Hey Matthew, you had mentioned that you prefer Trezor Suite Web version over the desktop version. I'm curious, but wouldn't it be better to use the desktop version and eliminate another third party. Since Trezor suite is open source, and the Chrome browser is NOT, wouldn't you think that eliminating Chrome if possible would be beneficial?

[@SDsc0rch]

here's a question... would you consider discussing strategies for storing / hiding our 24 words??

[@jamesthompson3099]

Hi Matt. Blockstream, besides offering the Jade Wallet also offers Multi-Sig storage. It is a bit different than most I have seen. Do you have an opinion on it? Thanks

[@denissego8554]

Matt, how serious is your assumption about ledger security and possibility of coins to be compromised in the future

[@Bitcoin_University]

I think it's low probability. But why take any risk that you don't have to?

[@denissego8554]

@@Bitcoin_University thank you so much for all you do.

[@butmunchass]

@@se6586 There are certain court orders that have a 'gag order' attached to it meaning that they aren't allowed to tell anyone what the court/LE has forced them to do. I don't think it matters whether its a public or private company because both have to comply with court orders.

[@bbroncs]

Should you only store 1 crypto type per hard wallet?

[@rogerm3854]

Matt, What do you think of Arculus as a cold wallet? Could you do a podcast on pros and cons of different cold wallets including Arculus?

[@butmunchass]

@@pinnedside6666 how to steal your money is what I would like to show you.

[@butmunchass]

intended to respond to the fake account not the real one.

[@rogerm3854]

@@pinnedside6666 nice try

[@holdmybeer3039]

Thank you! Can you continue the safety protocol by recommending a way of safely storing your keys? If not here, perhaps another video?

[@f.flinstone252]

Exactly what I wanted to ask. Had a discussion with my family about this, ways to store the seed phrase. Not that easy. Would like to know Matt's view.

[@BURSAMAN]

The few friends i have convinced to buy bitcoin are too lazy to take the next step and store their BTC in a cold wallet. But heck they are all fired up to buy Shiba. Lol.

[@dripz167]

I don’t understand it, it’s literally your money you’re playing with!!

[@Bitcoin_University]

So depressing. This is one reason I'm increasingly worried about this: kzbin.info/www/bejne/nKKlo4ygop58Ztk&ab_channel=TraderUniversity

[@XantinwoX]

Well for one governments are allowing it as currency … so how is this not tracked by the government .. it is. It’s time to stop lying to yourself

[@edwardj456]

If you can recover everything through a seed phrase with a NEW hardware wallet then your data(Private Keys) Must be saved, presumably encrypted, on the internet somewhere. Where are they saved? Who's server gets that privilege. Thanks for a great video.

[@gavinp4280]

Edward, a wallet's key is created based on the random 12/24 words; it is a crypto hash of those words. If you know those words, in the correct order, a new wallet will always re-create the same private key because it is a mathematic formula. It is impossible to reverse-engineer and find the 12/24 words by seeing the public key. So the key is not stored on any server, it is simply created by the wallet based on the secret words using the same SHA256 hash formula. Hence, if you lose your wallet, simply create a new one by supplying the 12/24 words and the wallet will apply the SHA256 formula and the same private key will be created in the new wallet.

[@hogue3666]

Great video. Thanks. So a trezor and ledger are the same? The thumb drive is your vault. Your phone is a wallet.

[@HoldFastTheTruth]

I love this video!! So helpful!! Unfortunately Strike does not allow access in New York. Is there another app or broker that you would recommend with low premiums like Strike? Thanks!!

[@andrewrae6755]

It Looks like The Jade wallet only works on an iPhone and on there website io there is no mention of android , Confused.

[@D348-p1y]

How often do you add to your premium content? I'll be getting a subscription in a month or 2.

[@brandonholm5812]

You should consider the Coldcard hardware wallet.

[@helennoble3098]

Some great advice there, I always store my BTC on a hardware wallet. Instacoins has been one of the best places I have found to buy BTC. It's safe and easy to use and doesn't have the high fees the other exchanges have.

[@luciano9220]

Could this be done from a phone instead of computer and still be safe?

[@EnkhturDamdinjav]

Have bookmarked this, will re-watch it and make notes. Initially my expectation was low. I thought I will probably have to watch multiple streams and make notes but this one seems to cover it all in sufficient detail...

[@dianemckenzie9669]

Also once the Bitcoin is moved to the wallet can you check the value/amount, assuming the quantity stays the same but the value still goes up or down.

[@OMGWUNSIU]

Yes, I sent a couple hundred to my Tangem wallet and even after the fees, because BTC went up, I had more than I sent. 😊

[@luciano9220]

When Will you do a similar video with blockstream jade

[@ferniefernie8903]

Excellent video. Thank you.

[@graycjustin4982]

INVESTING MAKES UP THE TOP-NOTCH HEMISPHERE OF WEALTH, THAT IS MORE REASON ONE SHOULD SAVE AND INVEST TO SECURE MORE PROFIT AND ENSURE SUCCESS...

[@liaoweien]

Thanks a lot for this awesome video. Quick question. Can you still do staking with the hardware wallet? Or you will give up the chance to do staking to get "dividend" in order to get a better security? Thanks in advance.

[@obbe7066]

Is strike available in Europe now?

[@alexfinn7989]

Did you do a Blockstream Jade video? Thanks Matt.

[@dek2000utube]

Would you talk about how to handle it if you suddenly die or become incapacitated?

[@EMan-cu5zo]

More Bitcoins that will never be sold.

[@Welch_Marketing]

Wait so should we or shouldn’t we make a back up?

[@THOMPSON8787]

Just bought my bitcoin on Robinhood and sent it to my Trezor

[@stuartsloan]

You don’t do a test send with a low amount first!? Yikes you’re brave!

[@shashidharreddy2959]

Recently came to know about cryptocurrency and this is my understanding so far from watching a few of your videos. So Bitcoin is like a piece of land on the moon, which anyone can see and which you can own but can't touch or move. The only thing you can do is transfer your rights on that piece of land.

[@yungrel1916]

Basically

[@CaliburPANDAs]

Should i return my ledger nano x if i haven't opened it yet?

[@mortynator]

Why can I not buy your course in Bitcoin

[@kyleadcock7991]

What tazor or hardward wallet, do you suggest outside USA?

[@Bitcoin_University]

Coldcard or Blockstream Jade

[@0x7eb5]

Does strike offer instant sends or will I have to wait for my ACH transfer to finish each time?

[@jussef2057]

Is there a good alternative to Strike? It isn’t available in my country

[@ikust007]

Thank you for this work. Cheers !

[@Captnsouthpaw]

I’m located in New York, is there any other service you recommend being that strike isn’t available in NY.

[@FarfettilLejl]

NEVER buy a hardware wallet off of amazon, ebay, etc. You never know if they haven't been tampered with. Please. buy directly from the manufacturer

[@butmunchass]

I'm not saying that I disagree but I'm just saying that if you buy from the distributor they do keep records and Ledger had got their records hacked and personal information got dumped all over the darknet.

[@FarfettilLejl]

@@butmunchass you're absolutely right. There's always a risk but having your passphrase stolen can be worse than having your name or address stolen and leaked to the internet

[@carlknepfler8976]

Couldnt you move it a couple times though and therefore alleviate the presumption that BTC that came from strike is still yours?

[@brocwavra8813]

Can you move bitcoin like this from Gemini?

[@Bitcoin_University]

Yes

[@craigwarner3409]

Strike is not available in NY. Working towards approval I hope.

[@gw6056]

If you move your BTC from the normal trezor into a secure trezor password wallet....do you pay fees to move it over?

[@eoinmolloy3017]

Strike isn’t available in my country. What should I do?

[@spock949]

What’s the difference between the 12 word pass phrase and the private key?

[@mrbarrington-smythe9033]

Thanks for another great guide. What's your view on using Electrum on a USB stick running Tails OS, kept offline as a cold wallet?

[@CollegevilleJohnnie]

Thank you 😊

[@dagee234]

I've heard that exchanges screen coins for those associated with criminal activity and may have access to blacklists for that purpose. If we buy p2p, do we need to worry about innocently buying coins of questionable origin? Legally speaking, What constitutes sufficient due diligence? If exchanges have blacklists, are there publicly available blacklists so that we can try not to buy anything questionable? thnx

[@Caring.for.Couples]

can you buy bitcoin directly without an exchange or you always have to use an exchange then transfer to your hardware wallet?

[@Bitcoin_University]

You usually need to buy from an exchange. You could also buy from a Bitcoiner in real life at a Bitcoin meetup

[@martnava1661]

what happens if the trezor website goes down is your btc stuck on the hardware wallet?

[@ashleymcintosh1604]

Good one Mathew

[@tarik_diamane]

I appreciate this, thank you.

[@TxGlenn]

Then what do you do with the wallet? I safe-deposit box?

[@butmunchass]

If you're worried about gov confiscation of your crypto, the minute they have a court order to get it they will order the bank to open your safe-deposit box also.

[@GalaxiePictures]

PayPal does not offer transferring bitcoin, strike offers a withdraw function, it looks like cash to bank account though

[@GalaxiePictures]

@@pinnedside6666 I dont use WhatsApp gimme a few to open an acct

[@mdel310]

Can trezor/jade wallets only hold BTC or are we able to send it other coins as well?

[@이경-f8y]

A simple google search will give you this information + more.

[@af6727]

Had to do the course thing, gotta scope up them Bitcoin.

[@GenerationX-GenX]

Hey Matt, Did you ever pick up a Block Stream Jade? If so do you like it?

[@Bitcoin_University]

Yes, I like it, but I like ColdCard more.

[@GenerationX-GenX]

@@Bitcoin_University Excellent. Thank you so much!

[@Travelingforlife]

Well presented! Question, how safe is it to transfer crypto from a well know exchange into a cold hardware wallet where All your crypto is stored? Seems like not a good idea to potentially expose losing it all. Is there another way to send it for example to a device first where No crypto is stored then transfer it from that device to where all or most crypto is at? Thank you

[@richardvillanueva559]

Did you figure this out yet if so elaboration would be much appreciated

[@Travelingforlife]

@richardvillanueva559 no but I feel it's better to have more than one storage, especially for bitcoin.

[@garyprater8139]

Also what do you think about UnBanked/Ternio?

[@marty590]

Hi Matt..can you secure your private keys on a Trezor for btc inside an ira at itrust capital?

[@marty590]

Bitcoin IRA says no.

[@butmunchass]

No they handle custody of your keys. If they gov want your keys, they will confiscate them.

[@digitaldimensions9756]

what about coinbase wallet ?

[@Kuessemir]

Is bitcoin wallet a Big No No too? Despite my holding keys is it still unsafe? Can I purchase through coinbase and hold elsewhere? Such as the trezor?

[@privateuploads-geo2625]

I don’t see the link to get your BC buying suggestions. Please provide here

[@joshuahunt1210]

Do you still use Strike to purchase bitcoin? This video is over 2 years old. Thank you.

[@Hboogie182]

He still uses Strike.

[@vblanche1]

Hello, great video and channel, love it. Is it ok to purchase a blockstream Jade from one of the blockstream's distributors in Europe? thanks

[@petejames4672]

No strike app in the UK yet.. :(

[@cma2380]

What are the limits for new accounts ?

[@realtoreal321]

Strike Not available in NY WOW

[@Lakeland38]

Hello Matt! Today is DCA day for me.

[@brandon_gentile]

Matthew, did you ever make a blockstream Jade review video? Couldn’t find one anywhere.