Just upgraded my bitcoins to multisig with Coinkite!
After watching the Epicenter Bitcoin episode it gave me the itch. I had never used multisig before but Coinkite made it very easy. The site has lot's of options, including memorable images to deal with phishing. I feel a much better sense of security with my savings in a 3 of 5 wallet with most keys created offline. I feel like thanks is in order for making this free. Long time lurker, now I have an account and hope to participate in this community. Edit: the video link https://www.youtube.com/watch?v=5P5PofChyo8
Bitcoin is scarce, decentralized, and global digital money that cannot be censored.
Transactions generally cannot be reversed
Less than 21 million Bitcoin will exist
Bitcoin is highly divisible to allow for micro-transactions (up to 13 decimal places in a payment channel)
Bitcoin is an open, collaborative project that no company or government controls belonging to the people
Bitcoin is more than just money, but a secure timestamping ledger, payment rail, and smart contract platform
Do not respond to strangers messaging you with investment advice or offers and read how to avoid being scammed from the posts below.
Do not invest in Bitcoin until you do basic research, paid off all high interest debt, and have a emergency savings account of a stable fiat currency.
If investing do not expect to get rich quickly. You should expect to wait at least 1-2 years before taking profits. Bitcoin is currently very volatile. In the interim spend and replace Bitcoin because its a useful currency.
Beginners should avoid all mining and day trading until at least very familiar with Bitcoin. Mining is very professional(You cannot efficiently mine with your computer and need to buy special ASIC machines) and most people lose money day trading.
Never store your Bitcoins on an exchange or web wallet. Buy your bitcoins and withdraw it to your personal wallet where you actually own them instead of IOUs. Services like Robinhood and Revoult should be avoided because you cannot withdraw or use Bitcoin.
Make sure you make a backup of your wallet(software holding keys to your BTC) and preferably keep it offline and physical and private. Typically 12 to 24 words you write down on paper or metal. This onetime backup will restore all your keys, addresses , and Bitcoins on a new wallet if you lose your old wallet.
Beginners should avoid altcoins, tokens, and ICOs at least initially until they learn about Bitcoin. Most of these are scams and you should be familiar with the basics first. Bitcoin is referred to as BTC or XBT.
Note: Exchanges all have unique market prices and spreads so fees alone will not tell you the best rates. Best way is to directly compare the rates between exchanges. Buy fees above are for normal trading volumes. Verification and hold times can vary based upon lack of history, verification level or credit. More exchanges per location For a secure Decentralized Exchange (DEX) use https://bisq.network
Coinkite offers a number of useful bitcoin services, including wallet and a hardware payment network. Main features . Powerful, easy to use web wallet. Receive and send bitcoin amounts from a web interface. Two factor authentication, memorable image (to resist phishing attempts) and many other security features are in place. Users are free of the burden of securing their own computer. Multi ... Coinkite is the leading bitcoin security expert and hardware manufacturer Go ... Bitcoin Security Hardware Don't Trust. Verify. OPENDIME ® World's 1st and only Real Physical Bitcoin. Opendime is a small USB stick that allows you to spend Bitcoin like a dollar bill. Pass it along multiple times. Connect to any USB to check balance. Unseal anytime to spend online. Trust no one. Buy Now SHIPPING ... Coinkite sells a hardware device, complete with QR scanner and receipt printer that can be used to perform bitcoin transactions without a computer and in a retail setting. "Debit" Card. Coinkite offers all it's members a plastic card which can be used at the payment terminals, but is also useful anywhere as it has a bitcoin address on the back. First we need to create a multi-signature wallet on Coinkite. Select “Multisig vault” on the Coinkite wallet page. Enter an account name and select “Bitcoin Testnet” as currency. Choose 2-of-3 (the default value). Now it’s time to configure each cosigner. For the first cosigner, select “Simple”. This cosigner will be controlled by ... Description . Multisignature (multisig) refers to requiring more than one key to authorize a Bitcoin transaction.It is generally used to divide up responsibility for possession of bitcoins. Standard transactions on the Bitcoin network could be called “single-signature transactions,” because transfers require only one signature — from the owner of the private key associated with the ...
In this video you will learn how to sign your Bitcoin 2-of-3 Multisig transaction created on video #10 (https://youtu.be/OMpZ5heLsRg) using PSBT with COLDCARD and ... What’s the simplest way to use multi-sig? There are a number of wallets and services that facilitate a multi-sig setup, which ones are recommended? Is multi-sig a good solution for the ... In this guide you will learn how to setup a Bitcoin Air-Gap 2-of-3 Multisig Wallet and import into Electrum. The next video #11 (https://youtu.be/De6FDsf-UvA... He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters. What is the Coinkite Coldcard? It's a Bitcoin hardware wallet, so it signs transactions and can be used offline. BIP39 based, which means you can backup the secret words onto paper, and have lots ...