Around 2 years back, I learnt about Bitcoin first in life and decided to slowly save money and purchased over 1000$ of BTC on a platform (exchange) called VAULD. My main aim is to keep BTC on HODL, but soon after the bear market, crypto exchange got bankrupt, stopped its operations, locked our crypto and currently filed moratorium in Singapore court, lost all my money. I learnt a lesson of having self-custodial or non-custodial wallets the hard way. Now they are holding reverse dutch auctions (RDA) and all.
I come from a not-so-rich Asian country and it was a good chunk of my savings. But now after 2 years of distrust on crypto, I am planning to again try Bitcoin, but SAFELY.
Is there anyone here who can help me get started with safe practices, specially on which wallets to use. Although I have heard of hardware wallets, I cannot purchase hardware wallets since it is too expensive to start with. I may think of them in future. I want some of these features:
- BTC should be in my hands, not in my government/ exchange hands
- I don't have latest and greatest PC/ mobile, so there should be some sort of backup/ recovery so that I don't get locked out/ loose my own wallet
- I can save my keys safely with KeePass password manager and even offline
I did not followed all the stuff in last two years out of frustration of loosing funds. Starting on fresh, I want to really know safest way to purchase crypto in smaller amounts (maybe in like 200-300 USD) chunks, with less transaction fee and transfer it safely to my wallet. (MY WALLET, not an exchange).
Plsss help
Here is the link for the news:
The Economic Times
A look at what went wrong with Vauld
“This is due to a combination of circumstances such as the volatile market conditions, the financial difficulties of our key business partner...
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