Members have been asking me for a very basic, ‘Bitcoin 101’ style explanation for getting started owning actual Bitcoin and then taking control directly through self-custody. Given the events here in Canada over the last week, it has never been more important to hold Bitcoin and keep it off the exchanges. Even though the Trudeau Regime had to back down and rescind the Emergency Act even unfreezing the bank accounts in under a week, the precedent has been set:Your bank accounts are now fair game and if out of control governments think they can get away with it, they’ll seize your money simply for disagreeing with them or supporting legitimate political protest. This was a game changer, so it’s now more important than ever to start moving some of your wealth into Bitcoin, then gradually accumulating more on an ongoing basis. Buying Bitcoin: People are asking me which exchanges are legit, here is the short list: USA and International
- Coinbase (which we own in our portfolio) *
- Swan Bitcoin (for easy-to-setup dollar-cost-averaging program) *
- Kraken
- Blockchain.com
Canada:
- BitBuy (which we own via WonderFi) *
- MyBTC.ca
- Coinsquare
(links with * have our referral code in them) You will have to undergo KYC (Know Your Client), which means uploading photo ID and then fund your account via bank payment, wire transfer, or e-transfer. Once you have your Bitcoin: You immediately withdraw it out to your own custody wallet. A reader sent us this video by Crypto Casey which we think is the best explanation for the beginner on how to select, set up and transfer your Bitcoin to your own wallet:
