submitted by /u/subjugated_sickness [link] [comments] |
source https://www.reddit.com/r/btc/comments/lc7x0b/rwallstreetbets_is_getting_rbitcoind/
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Hey guys I'm relatively new to the crypto / stocks word. Been doing crypto for a few months... and stocks for a few weeks. Sooo not complete noob status.
I am looking for reliable resources whether they are youtubers or people on twitter or whatever. Obviously there's a lot of influencers that are all hype and Im looking for some people yall count on for reliable information.
Any resources you can share with me would be appreciated.
We're in this together!
I downloaded Electrum software today after a tip to move my bitcoin to a wallet. I found it very easy to do. My initial purchase of Bitcoin was 2.5 or 3.5 years ago, and it has gone up quite a lot in value of USD. So I wanted to protect it. I guess I was lucky that what I had left in coinbase was still there.
Anyway my main question is I read that I should backup my wallet. How do you do that? I don't have a clue where Electrum stores the wallet. I had trouble finding how to even open electrum after initially installing it.
Another question I have is at what amount of money do you think it reasonable to store using electrum... when is it worth spending money to store my bitcoin.
One other topic: I bought a very small amount of ethereum and dogecoin this week ($25 and $20). I have to get wallets for that too? I used the Voyager app to buy these but I don't think I want all these different wallets. Should I just convert these to BTC?
Sorry for all these questions but I bought bitcoin a few years back and paid no attention to it. Now I am trying to be more serious about it and am having a lot of trouble getting my head around it all.
What is the easiest most efficient (for taxes) way to do this? Or is it just as simple as sell everything, transferring the money to my bank account, then transfer it to an exchange?