In our latest Learn 101 livestream session, we gathered an esteemed panel of crypto experts to share insights on whether BTC will soar to $100K by 2024.

The extreme volatility of Bitcoin and periods of strong growth throughout its history have created substantial wealth for many investors. Bitcoin breached $70,000 earlier in 2024, and many investors are eagerly awaiting price movement to $100,000.

, we ask, “Will Bitcoin Soar to $100K by 2024?”

, provides a recap of our Learn 101 livestreams, offering you comprehensive expertise and insights from leading figures in the crypto industry in case you miss the livestream.

Joining the livestream on Sep 11, 2024 were four distinguished guests:

Under the moderation of Sabrina Chua, Crypto Evangelist and SEO Editor at Bybit, this episode explores if Bitcoin’s price will reach $100K by 2024.

Bitcoin's Journey — Looking Back to Look Forward

At the start of the livestream, Michael Ionita created an automated trading order to demonstrate how easy it is. It remained running in the background until the end of the stream, when our guests reviewed the order.

Throughout the years, Bitcoin’s price has been influenced by the Jackson Hole Economic Symposium, government policy, ETF applications and other factors. Henrique Centieiro stated that short-term macroeconomics are impacted by the Federal Reserve. The economy is currently relatively shaky, and he anticipates more money will be printed. When this last took place, the stock market shot up, and Bitcoin’s price increased substantially. Centieiro attributes this to the level of increased money in circulation.

Referring to a chart that shows a correlation between lowered U.S. interest rates and Bitcoin’s price, Ionita demonstrated that increased money supply has boosted Bitcoin’s prices.

Jerry Li is bullish over the next six months. He reminded us that inflation weakens both the U.S. dollar and purchasing power, and as interest rates drop, he sees a correction in the crypto market that will positively affect Bitcoin’s price.

Centieiro stated that some people will take profits during the rate adjustment. He believes that the next month may be bearish, but there will then be a bull rush.

Ionita said that the market has been impacted by Russia’s new Bitcoin policy, asserting that this is bringing more funds into Bitcoin. However, many people in Russia are holding Bitcoin on a short-term basis because they’re making purchases with it. This makes Russia’s policy impact both bullish and bearish: Ionita maintains that other countries may act on this by prohibiting or limiting Bitcoin because of world events.

Meanwhile, Centieiro stated that the amount of money being kept on exchanges is at an all-time low, which means people are holding for a longer period of time. Bitcoin miners continue to invest in mining equipment. In addition, Michael Saylor has stated that Bitcoin’s price will reach 

Li drew attention to the fact that recently, hash power has increased dramatically, which is attributable to the entrance of more people and countries into the crypto market.

Ionita described the Bitcoin Spot ETF rally of 100%, attributing it to massive public interest. He believes BTC’s price is being heavily restricted because of this huge interest, and expects its price to rise by the end of October, based on the interest in Bitcoin Spot ETFs.

Centieiro said that there’s a lag as money managers decide whether to invest or not. Adding Bitcoin to a fund, even in small amounts, increases diversity and lower risks. He believes this is a win-win situation for money managers.

Li reminded us that Bitcoin will definitely reach $100,000 at some point, but nobody knows when. The upcoming U.S. election may drive its price up, but it could also bring greater volatility. Other catalysts may drive the price up as well.

Ionita referred to his screen again, saying that it’s hard to predict a price for something with multiple variables. However, he referred to the Fibonacci cycle for the current market, which reveals a Bitcoin price prediction between $200,000 to $300,000, adding that it’s impossible to predict the time frame. The average cycle time, however, is 1,069 days, which would extrapolate to the end of October 2025, but this time frame is fuzzy. He believes $200,000 is realistic for the cycle.

Centieiro described some price movement obstacles that have prevented Bitcoin’s price increase or slowed the time frame for BTC hitting $100,000 — the uncertainty of the U.S. election, for one. He also referred to a chart showing a lower flow in market-based mining activity. This indicates a type of magnet for the price. Centieiro also introduced a power log that shows BItcoin’s price should currently be around $90,000. He believes the current price is a pressure cooker, and the price will therefore greatly increase.

Zitane said the main risks that could stymie BTC price growth are regulatory uncertainty, economic instability and military conflicts, among others, directly affecting BTC’s price.

Ionita added that investors should get out of any risky asset in a downturn in order to prevent loss. He stressed the importance of understanding that both BTC and the U.S. dollar are preferred as investments in different situations, and showed a graph indicating that dollar-cost averaging (DCA) isn’t a wise approach for risky assets.

Li, however, stated that he uses DCA. He believes it’s a healthy strategy over a long period of time, due to his confidence that Bitcoin’s price will eventually go back up after a dip.

Centieiro agreed with Ionita that it’s not advisable to use DCA for an asset that’s going to zero. However, he doesn’t believe that Bitcoin will ever go to zero. Centieiro believes in DCA as a solid, long-term strategy to smooth out BTC market volatility.

Zitane has a simple strategy: he only uses DCA. He makes a purchase, and then buys again if the price goes down. He pays attention to the news, keeps buying when the price goes down and continues to reduce his average price.

Ionita reminded us that you can make more money with manual trading if you know what you’re doing. Most people aren’t professional traders, though, and can get wrecked in a bear market if they don’t stay on top of things. He recommends that these traders use an automated algorithm.

Smart Trading — Entering and Exiting with Confidence

Centieiro explained how he enters a trade: he buys BTC and holds it for at least a few years, looking for a relatively cheaper price as compared to previous prices. This is determined by a look at the 200-day moving average. He also looks at the Crypto Fear & Greed Index. Centieiro explained that investors must decide how long they plan to hold BTC 

 buying it. He invests a portion of his investment amount at one time, and spreads the rest of his investment out over several weeks.

Ionita, however, holds his BTC over several months. He looks at Fibonacci and other charts to invest funds in BTC and several other assets, based on risk. He maintains a specific allocation, with more allocation to the least risky assets.

This session of the Learn 101 livestream highlighted “Will Bitcoin Soar to $100K by 2024?”

As part of the livestream, Bybit is holding an 

 that offers you a chance to participate in our pop quiz and win a share of 300 USDT in airdrops. The event period is through September 18, 2024, 11:59PM UTC.

Stay tuned for more discussions on the dynamic world of cryptocurrencies!

Intermediate

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Learn Live ICYMI: Will Bitcoin Soar to $100K by 2024?

Self Chain (SLF) is a Layer 1 network that provides a cross-chain keyless wallet solution, along with modular intent-based transaction execution capabilities.

 can be tedious and frustrating, especially for beginners. At the same time, careful private key management is crucial if the user wants to avoid security breaches or the loss of access to their wallet. 

Wouldn't it be great if you could transact securely on blockchains using your social media logins while also enjoying the cryptographic protection features provided by crypto wallets? And without the need for private key or 

This is exactly what Self Chain (SLF), an innovative 

 blockchain project, offers to the crypto user community.

multi-party computation — threshold signature scheme

 (MPC-TSS), Self Chain offers keyless wallet services that let you transact across multiple chains and applications. Additionally, its solution comes with a large language model (LLM) intent-based chat assistant to find you the best deals and transaction options in the cryptocurrency world.

 (SLF) is a decentralized platform that describes itself as the first modular intent-centric access Layer 1 blockchain. 

It provides two key services: an AI-driven chat assistant that helps users carry out intent-based transactions, and a keyless wallet solution that facilitates multichain logins and transactions without the need for private key or seed phrase management. Self Chain’s Layer 1 network is based on the popular Cosmos SDK blockchain development framework. 

 (ATOM) ecosystem, Self Chain uses the delegated proof of stake (DPoS) block processing method, with validator nodes securing the network.

The project was initially called Frontier (FRONT). It began its network operations with the launch of an incentivized testnet in April 2021. In mid-2024, Frontier was rebranded to Self Chain and launched its mainnet.

Self Chain's AI chat assistant accepts voice and textual inputs from the user, and searches multiple blockchain platforms and 

 (DApps) to find the best possible deals. This service can be used in various areas, including 

 (DeFi). For instance, crypto gamers can use Self Chain’s intent-based search for the best deals on gaming 

 assets, while DeFi traders can instruct the assistant to find the best rates for specific coin swaps.

The platform's keyless wallet infrastructure service allows users to securely use email- and social media–based 

 logins to blockchain apps and platforms. This is enabled by splitting the wallet's seed phase into three parts, each stored separately — one encrypted on the user's device, the second encrypted and stored on the Self Chain network in a decentralized manner and the third reserved for wallet recovery purposes..

The platform's chat assistant is based on an LLM model that transforms user inputs into signed automated intent instructions. These instructions are passed to Intent Searchers, entities that scout the blockchain ecosystem for the best deals and most efficient paths for the intended transaction. Once the optimal source is found, Intent Searchers pass the request to intent solvers, whose job is to execute the transaction.

Blockchain DApps that aspire to become Searchers and solvers within the Self Chain ecosystem can use the Intent DSL SDK, a development framework offered by the platform. Using the SDK, DApps can integrate into the platform's architecture and translate user intent commands into executable searches and transactions.

The Self Chain keyless wallet service is powered by MPC-TSS technology, which permits splitting the user's private key, seed phrase or other secret identifier into multiple fractions, each stored independently to avoid a single point of failure. As a security technology, MPC-TSS predates blockchain, and can be applied in a chain-agnostic manner.

In Self Chain's implementation of MPC-TSS, there are three seed phrase fractions, with the two main ones — the Personal Share and the Remote Share — held on the user's device and the blockchain, respectively. When an operation is carried out, the Personal Share is matched against the Remote Share to facilitate the transaction. A network of MPC nodes encrypts the Remote Share in a distributed fashion to further enhance the security of operations.

The third fraction — the Recovery Share — is used solely to restore access to the user's device or add a new device.

Thanks to this chain-agnostic keyless system, users can retain the self-custody of their wallets, enjoy the security of the blockchain's cryptographic protection and use keyless logins on a myriad of platforms.

Self Chain lets users enjoy multichain account abstraction (AA), whereby wallets can carry out complex operations without you needing to worry about the specifics of underlying technology. For example, Self Chain–based wallets can execute bundled transactions, carry out cross-chain operations and optimize gas fees, all without user intervention.

What Is the Self Chain Crypto Token (SLF)?

During the project's mid-2024 rebranding from Frontier to Self Chain, its native cryptocurrency was migrated from the FRONT token on the 

 (BNB) to the SLF coin, native to the Self Chain's Layer 1 network. The migration was announced in late August 2024, and as of the time of this writing (Sep 16, 2024), FRONT holders can still migrate their tokens, with no specific conversion deadline provided by the project team.

SLF is used for a wide variety of functions on the Self Chain platform, including the following:

SLF has a total and maximum supply of 360 million. The coin's supply allocation shares are per the chart below:

The SLF coin is available on Bybit as a Perpetual contract with USDT (

). Under this contract, you can trade SLF with up to 12.5x leverage.

Self Chain's innovative system simplifies keyless multichain web3 access, while the versatile LLM assistant helps efficiently interpret user intent to conduct diverse transactions across networks. This is a functional set that few other projects in the industry can provide. In particular, the keyless wallet solution is something that truly sets Self Chain apart. 

While there are a few crypto projects that utilize an intent-focused approach and AI-based chat assistants, Self Chain’s keyless functionality is a rare feature that will undoubtedly attract interest from a variety of users. Navigating myriad DApps and networks and transacting on them without the need for meticulous private key management has just gotten a lot easier — all thanks to Self Chain and its implementation of MPC-TSS.

Advanced

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Self Chain (SLF): The Future of Secure Private Key Recovery

Stacks is integrating with the Aptos Network to bring Bitcoin's utility to decentralized applications through sBTC, a 1:1 Bitcoin-backed token.

The SPX index was up by 0.03%, with key sectors underperforming, including healthcare, consumer staples, and real estate, while energy, consumer discretionary, and industrial stocks outperformed. Coindesk Indices, an index measuring broader cryptocurrency market performance, was up by 2.95%, with Bitcoin and Ether rising by 3.62% and 3.16%, respectively, in the past 24 hours.

Today's top performer is SAGA, which surged 27.3% following its announcement of a new economic model focused on sharing in project success rather than charging gas fees.

Saga (SAGA), founded in 2021, is a Layer 1 blockchain protocol that allows developers to create customized chains for their applications, providing shared security and scaling solutions. 

 focuses on sharing in the success of projects built on its platform, rather than charging gas fees. Projects can launch cheaply on Saga's chainlets, and Saga takes a small cut of token activity once bridged through its infrastructure. As projects grow and their tokens become valuable, Saga can hold, use, or sell these tokens to fund ecosystem growth and buy back $SAGA tokens. This creates a network effect where success drives further success, positioning Saga as a key platform for value generation in web3.

Check Out the Latest Prices, Charts, and Data of 

 to bring Bitcoin's utility to decentralized applications through sBTC, a 1:1 Bitcoin-backed token. This integration allows Bitcoin to be used beyond a store of value, enabling participation in DeFi, gaming, AI, and social platforms on Aptos. The integration follows the resolution of an SEC investigation into Stacks, clearing the path for further Bitcoin scaling advancements. Stacks' recent Nakamoto upgrade has improved its transaction speeds and block production, facilitating this new cross-chain capability.

Yesterday, The total flow for BTC Spot ETFs was $186.8 million, with $0 from GBTC and $186.8 million from non-GBTC sources.

 on Optimism’s OP Mainnet, with 185 million WCT tokens being airdropped to users. The airdrop registration opens on September 24, targeting users who engage with WalletConnect or contribute to open-source projects. WCT tokens will drive WalletConnect's governance and economic structure, initially non-transferable until 2025. The newly formed WalletConnect Foundation will oversee the protocol's transition to a permissionless structure. WalletConnect aims to decentralize further and has seen 240% growth in the past year.

Beginner

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Stacks Integrates with Aptos, Expanding Bitcoin’s Utility to dApps and DeFi

Explore our article to find out what’s the Cipher Code for today’s Hamster Kombat’s Daily Cipher Code.

, where managing your crypto exchange meets the intellectual challenge of daily Morse code puzzles. Released each day at 7PM UTC, these puzzles do more than just test your mental agility; they offer significant rewards that can enhance your strategic influence in the game.

, challenging you to decipher a Morse code each day. Successfully solving these puzzles not only boosts your coin reserves, but also sharpens your critical thinking skills, enhancing both your gameplay and strategic planning.

Today’s Hamster Kombat Daily Cipher: Sep 18, 2024

 Daily Cipher for Sep 18, 2024, is as follows:

 —•••   ••   —•   •—   —•   —•—•   • 

Ensure each Morse code sequence is entered with precision and slight pauses between letters to confirm correct execution and secure your reward.

Gain an early advantage by trading HMSTR tokens through Bybit’s Pre-Market Trading. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the 

Today's Daily Cipher and the interactive gaming activities available within 

 provide ample opportunities to boost your coin balance and deepen your engagement with the game. Each puzzle you solve not only contributes to your financial growth, but also refines your analytical skills, making every gaming session both rewarding and intellectually stimulating.

Stay tuned for daily updates and expert strategies to maintain your competitive edge in the thrilling world of 

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A Guide to Hamster Kombat's Daily Cipher Code (Sep 18, 2024)

Crypto

Bitcoin

There are seven main ways to purchase Bitcoin: Crypto exchanges, P2P trading, Bitcoin ATMs, trusts or ETFs, brokers, cash payment apps and trading apps.

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 (BTC) was the first cryptocurrency to be created. It remains the king of crypto today, with a 

 of $1.15 trillion (as of Aug 12, 2024). When it comes to buying crypto, investors often select Bitcoin above all the available alternatives, thanks to its popularity.

However, those who are making their first steps in the world of cryptocurrencies may initially find it difficult to buy Bitcoin since the process of purchasing crypto may be an alien concept to them. Fear not, as this guide will provide a comprehensive explanation of different methods for buying Bitcoin.

There are many valid methods of buying Bitcoin available to any potential purchaser. The two most popular are through crypto exchanges and P2P platforms. Other ways to buy Bitcoin include Bitcoin ATMs, trusts or exchange-traded funds (ETFs), brokers and various apps. Let’s view each of them in detail. 

There are two types of cryptocurrency exchanges: centralized and decentralized. 

 (CEXs) are typically deemed the best choice for beginners for their security, convenience and user-friendly platforms. Many offer various options of payment. For instance, investors can choose to buy bitcoins either with fiat currency or with other cryptos. The possibility of buying crypto for fiat is especially handy for newbies, as it facilitates the onboarding process.

Fiat-to-crypto CEXs offer a chance to buy crypto using various traditional payment methods, such as bank and wire transfers or a debit/credit card. You can make your initial purchase on such reputable platforms as Bybit.

Each CEX provides different anti-money laundering (AML) policies and requires different levels of 

 (KYC). What they have in common is a user-friendly interface and a simple onboarding process for newbies.

Let’s review the basic steps you need to take in order to buy Bitcoin, using the Bybit exchange as an example. On Bybit, users can buy Bitcoin (as well as Ether and USDT) with major fiat currencies (40+) via its fiat gateway. Basically, the process is as follows:

As you can see, the process is really simple and doesn’t require any technical skills. From this perspective, Bybit offers a service that perfectly fits newbies as well as seasoned traders and investors. Bybit even offers investors bullish on Bitcoin the option to buy Bitcoin regularly via its 

Meanwhile, crypto natives typically prefer using 

, to purchase Bitcoin and other crypto through 

. This inclination often stems from the desire to maintain anonymity, as DEXs lack the KYC procedures mandatory in CEXs. Additionally, users have complete control of their funds in DEXs, unlike in CEXs, where they have to relinquish control to the CEX. Since there’s no third party in the management of funds and transactions, users can make Bitcoin transactions at a lower cost.

However, the complexities of using a DEX and the absence of customer support make this choice unsuitable for most beginners looking to buy Bitcoin.

Generally, crypto newcomers start their journey with a traditional centralized exchange that acts as a middleman. However, it’s also possible to buy Bitcoin directly from other Bitcoin owners on various platforms such as Paxful and Remitano. Bybit also offers

 at zero fees, with hundreds of payment methods and support for multiple fiat currencies. The key difference here is that you buy cryptocurrency not from a platform, but from another person, and the platforms mentioned above serve to connect buyers and senders.

The first step on P2P platforms is the same as on centralized crypto exchanges, as it involves creating and verifying your account. Users then need to browse different offers and find a trading partner who provides the best price and most convenient payment method available. If a suitable option is found, you can simply open a trade with the selected Bitcoin seller. 

Once the trade is initiated, the seller sends Bitcoin to the escrow account and a buyer sends the relevant sum of fiat money. After that, the Bitcoin is unlocked and sent to the buyer. If, however, there’s no appropriate offer on the platform, you can always publish a request yourself.

There is no middleman in such sales, and both parties have to deal only with a program that transfers assets from the seller’s deposit to the buyer’s wallet. Such a method has some advantages:

Nevertheless, some risks are associated with this method, especially if you conduct your own P2P selling. The seller may ask for additional information from the buyer, or for additional commission. If you’re selling Bitcoin, fraudulent buyers may ask you to release the coins straightaway before the payment is completed, or insist they’ve made the transaction when they haven’t. 

That’s why it’s always best, if participating in this method, to do so only on legitimate platforms like the ones mentioned above. For the most part, they have escrow in place, as well as security measures such as identity checks.

Another way to obtain Bitcoin is provided by special ATMs called 

. Such machines look like ordinary ATMs but allow you to physically purchase Bitcoin for fiat money. Some Bitcoin ATMs possess bidirectional functionality, allowing you to both buy and sell Bitcoin for cash. This method is especially useful for those who find it difficult to adapt to technological innovations and prefer more traditional methods of payment. Another advantage of ATMs is their quick transaction speed. They eliminate the risk of fraud because no third parties are involved in the deal.

There are about 30 such types of such machines available. Specific algorithms of actions may vary, but the basic principle remains the same. Here’s a general step-by-step guide for how to buy BTC via ATMs:

If you want to find the closest Bitcoin ATM near you, make use of the 

 service, which can help you locate Bitcoin ATM machines in your home area.

 (ETFs) let you gain exposure to Bitcoin without actually owning it. While they aim to reflect Bitcoin price fluctuations, their value may not necessarily be a true reflection of Bitcoin’s price, due to other holdings in their portfolios. There are 

Previously, you could only purchase Bitcoin futures ETFs such as ProShares Bitcoin Strategy ETF (BITO), which invests in Bitcoin futures. This allows you to track Bitcoin’s market performance without owning the coin itself. 

The U.S. Securities and Exchange Commission's (SEC’s)

on Jan 10, 2024 has made Bitcoin even easier to purchase for mainstream traders and investors. Bitcoin Spot ETFs such as Franklin Bitcoin ETF give you more direct exposure to Bitcoin, as they hold actual bitcoins as their underlying asset and track the current price of Bitcoin.

You can also buy Bitcoin via trusts such as the 

. However, unlike Spot Bitcoin ETFs, which allow you to redeem shares, you won’t be able to redeem a trust’s shares for the underlying Bitcoin, which can cause a trust’s price to deviate even further from Bitcoin’s actual value.

As crypto exchanges are largely unregulated, they pose financial instability risks for users entrusting their funds to these platforms. Unlike traditional stock brokerages, which are covered by the Securities Investor Protection Corporation (SIPC), investments in Bitcoin and other cryptocurrencies on these exchanges lack such protection. This absence of SIPC coverage means that in the event of an exchange's insolvency (as witnessed with 

), customers may face losses without the guarantee of asset recovery. 

This contrasts with the safety net that SIPC provides for traditional stock brokerage customers, making brokers a more secure choice for risk-averse investors interested in cryptocurrency exposure. Examples of brokers who offer Bitcoin and other major cryptos for investment are Interactive Brokers® and Fidelity Investments. Stockbrokers allow you to purchase Bitcoin and other crypto through direct trading or ETFs.

Cash transfer apps such as PayPal and Venmo not only let you send and receive fiat money, but also support cryptocurrency transfers. These financial apps allow you to buy and sell Bitcoin and other supported cryptocurrencies. You can also transfer crypto between PayPal and Venmo, as well as between supported exchanges and wallets. 

Note that, just as with CEXs, these apps require you to undergo KYC verification. Moreover, their fees can be exorbitant as compared to those of cryptocurrency exchanges. And at the end of the day, despite all that hassle and cost, you don’t actually own any crypto that you’re investing in on these apps.

Stock trading apps like Robinhood and eToro offer advanced trading features not typically found at traditional stock brokerages. These include fractional price trading, which enables you to invest in amounts as low as a dollar. While a few brokers, such as the abovementioned, offer direct access to crypto, most traditional brokers do not. 

Meanwhile, trading apps generally allow direct buying and selling of Bitcoin and other cryptocurrencies. Additionally, trading apps often deliver a more streamlined user experience than the apps offered by brokerages. The sheer simplicity of using a trading app may make it a superior option for newbie traders, compared to traditional brokers.

Once your bitcoins reside in your wallet, make a decision about what you’re going to do with them. Traders may make use of BTC immediately and return to exchanges to switch their bitcoins to different 

. However, if you prefer to store your Bitcoin long-term to make profits later when its price increases, then consider withdrawing it to your own wallet.

A cryptocurrency wallet is a program intended for storing public and private keys that enable access to your funds, allow you to send and receive cryptocurrencies, track your balances and interact with various blockchains. Bitcoin is the most popular cryptocurrency, and is supported by almost all popular wallets. That’s why finding a suitable option shouldn’t be a problem.

 hot and cold. Both types have their own advantages and disadvantages, and can be used for different purposes.

A cold wallet is a physical, electronic device that isn’t connected to the internet and allows you to store assets offline. Hardware wallets and 

Hardware wallets typically are USB drive devices designed for storing private keys in the offline environment. You can receive bitcoins to your hardware wallet at any time, but when it comes to spending them, the device must be connected to a PC or a laptop. 

Such wallets are invulnerable to online hacking and unaffected by computer viruses. The only way to hack them is to physically steal the device. But even in this case, the perpetrator won’t receive access to your coins, as they can be protected with a PIN. 

The average price of such a device varies between $60 and $200. Popular hardware wallets, including 

, have proved their worth from a technical safety point of view and gained a good reputation among crypto users.

Another secure option for storing crypto long-term is to send it to a 

. There are numerous online services designed to generate such wallets. All you need to do is print the results they provide on paper. However, since this isn’t a durable material, don’t forget to take additional precautions. Make several copies, laminate some of them and put the others in a metal box, or give them to your friends for safekeeping.

A crucial feature of hot wallets that distinguishes them from their cold alternatives is that they need to be connected to the internet. In other words, these are online wallets. Any exchange will provide its users with a free hot wallet that automatically stores their traded BTC.

The risk associated with storing crypto on such wallets derives from the fact that, in most cases, they’re custodial. This means that their owners don’t hold the private keys to the cryptocurrency in their wallets. In contrast, fully non-custodial wallets are much safer, so in most cases, assets that aren’t traded are transferred to a wallet from a provider other than an exchange. Other types of hot wallets include web, desktop, and browser wallets. 

Regardless of the type of hot wallet you select, it will be connected to the internet, which makes your funds vulnerable to hacks. In order to protect your cryptocurrency and reduce this risk, follow these best practices:

Hot wallet providers, for their part, constantly develop and enhance security measures to protect their users.

If you’re a newbie to the crypto world, you may wonder which type of wallet will suit you best, hot or cold. To find the correct answer for you, first decide what you’re going to do with the bitcoins you’ve purchased.

Hot wallets are preferable if you frequently trade Bitcoin. They provide easier access to your funds, and are more convenient (as well as free) to operate. But it’s not a good idea to keep large amounts of Bitcoin in them for extended periods, as their main disadvantage is lack of security.

Cold wallets are safer, and are perfect for long-term storage of significant amounts of BTC. At the same time, they can be challenging for newcomers to understand — and they’re not free to use. 

Learning how to buy bitcoins and finding a secure place to store them may be tricky unless you know where to start. The options described in this article should provide you with insight into which is better suited for you, depending upon your risk appetite and knowledge of cryptocurrency. Additionally, being aware of the associated costs of buying Bitcoin on these various platforms is crucial, as some may charge exorbitant fees that could impact your overall profits. 

How to Buy Bitcoin: 7 Ways to Diversify Your Investment Portfolio

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