Safest way to buy bitcoin?

Questions
1

Good morning,

This is something I’ve been wanting to do for an eternity.

This has been on my “To do list” but I’ve always had too much anxiety because I know setting up a crypto account is like setting a new bank account.

I read some threads on PrivacyGuides but those threads all had advanced questions, which were out of my league!

I’d appreciate any help.

Thank you for reading my question!

2

Why BitCoin? Is there a specific reason or do you just want to start using more private payment methods? If you just want to start using more private payment methods, use monero instead Comparison of Payment Methods . if you scroll down at that link there‘s also a guide „how to buy and use monero“ which works ig same with BitCoin

3

I appreciate your reply!

Sorry I meant crypto currency in general when I said “bitcoin”. This has been something I’ve wanted to setup for so long but I was worried about making the wrong steps and getting off to a terrible start… :cry::cry::cry:

4

I can think of several reasons one person might want to buy bitcoin other than privacy reasons.

  1. As speculative asset for better potential return
  2. Bitcoin being the most liquid and widely used alternative payment method which is mostly censorship resistent
  3. To reduce exposure to fiat currency while doesnt want to hold physical commodities such as gold and silver.
  4. Bitcoin being the only crypto being adopted in Proton wallet, and the person is more comfort using it to hold cryto than other hot / cold wallets.
5

I appreciate your reply!

I’m only interested in crypto for privacy reasons.

I just don’t know where to start… :cry:

EDIT:
I know this is a real noobie question but crypto has just been something that I’ve been meaning to get into but I just kept avoiding over and over.

So I’m sorry for noobiness! :cry::cry::cry:

6

You are all good, and TBH I treat crypto solely as a financial instrument, I have no use case for crypto. Therefore, my exposure to crypto is limited to ETNs in stock market.:dotted_line_face:

I dont have much non-essential spending (I usually allow around 1-2% of my monthly income as discretionary spending, and I would accumulate the busget and spend them in a 2,3 occations annually), and basically none of the essential spending accepts crypto.

7

I appreciate your reply!

Is Proton’s wallet app the best way to go to buy cryptocurrency?

How does it differ from the mainstream crypto companies like crypto.com??

8

Proton wallet basically obfuscates? Your identity. Bitcoin by its nature is super public. But it’s the most trusted given its status as primogenitor. Proton wallet basically hides your bitcoin from the public. People can’t look at your proton wallet from the public and see that the wallet was used to buy hentai of Trump blowing Clinton

I’m probably completely incorrect. I’m not a crypto expert.

And for now it only does Bitcoin. The proton CEO only believes in the value of Bitcoin, and thinks all other coins are shitcoins.

9

https://getmonero.org

I recommend Cakewallet. If you are a newbie I reccomend doing KYC and getting Monero from Kraken if you are in USA. Make sure to withdraw it from Kraken to Cakewallet.

Once you have withdrawn the Monero to cakewallet, the only thing anyone can know is that you own Monero. Similar to how a bank knows you have cash when you take it out from an ATM. Although, Monero is more private than Cash because it does not have serial numbers.

I am happy to answer any questions about Monero.

If you wan’t to learn how Monero works in a conceptual way I reccomend Mastering Monero. It is a little old, but a good explainer of Crypto and Monero.

10

Define a threat model so we can understand what is considered safe, then we can provide recommendations/suggestions based on that need.

11

I appreciate your reply!

That book seems great but what worries me is that it’s from 2018… :cry::cry::cry:

EDIT:
Are there any other more recent books you can recommend? I really need help with this… :cry::cry::cry:

12

Monero can’t be bought in many countries where Bitcoin is still available.

Plus Bitcoin is the most established cryptocurrency so that you actually can find stuff to buy with it.

13

This appears to be false. As far as I can tell Proton Wallet provides no significant privacy gains over any other wallet using single-use addresses (the standard for over a decade) as they are its only real “privacy” feature. Single use addresses may prevent certain transactions you make from being tied to others by an attacker whose only information is what’s on the blockchain, but do nothing to break traceability of funds you receive to where they are sent.

14

Interesting Topic, i just registered her because of this topic.
thanks. any help for Someone Living in FAKE Democratic Country in Asia.

15

We have search engines, wikipedia, youtube, reddit, simplex. Mastering Monero is another more technical book i doubt it will be helpful. Monero.eco, monerica.com, kycnot.me for services. Also watching monerotopia could be good. LLMs can be good explainers as well.

One thing i forgot to mention was the easiest way to obtain Monero if a CEX (centralized exchange) does not list it in your jurisdiction.

1. Obtain any cryptocurrency on CEX. Withdraw to self-custody wallet.

2. Swap that cryptocurrency on an instant swap service for Monero to go to your self-custody wallet. I recommend Trocador.app.

16

How is Proton wallrt different from other wallets?

It would be nice if they host a Cashu mint

17

I appreciate your reply!

Does anyone have an answer for this??