Bitcoin Requires a New Set of Skills

Using and securing Bitcoin is often a daunting task for new Bitcoiners.

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There is new jargon, new hardware, new software, and new skills to acquire and apply. It’s complicated, or at least seems to be from the outside looking in.

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However, there was a time when typewriters were brand new and… nobody knew how to type.

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And when the PC revolution came about, “double clicking” and “copying and pasting” were completely foreign concepts.

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In the 1990s, the Internet came to prominence and its users had to figure out how to navigate a web browser, conduct searches online, and upload and download content.

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We take these skills for granted today, but at the time, typing, keyboard shortcuts, and web browsing were a new challenge for the average person to overcome.

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Bitcoin is the same.

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While Bitcoin is a scarce, decentralized, and beautiful form of money, it is also a technology.

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And with new technology arises the need for new skills.

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You’ll have to learn how to protect your seed phrase (the ultimate backup of your Bitcoin wallet).

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You’ll have to learn to operate a hardware wallet and some software to help send and receive Bitcoin.

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You’ll have to learn to run your own node to maintain privacy, contribute to network decentralization, and to BYOB - “Be your own bank.”

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The good news, is that there are innumerable resource on YouTube, in books, and on podcasts to help simplify these concepts. But… I wouldn’t recommend going it alone when it comes to setting up your Bitcoin self-custody solution.

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If it took you a while to learn to operate a typewriter or you made a million typos or you accidentally “cut” when you meant to “copy,” the ramifications were minimal.

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With Bitcoin, the same is not true. You may only get one shot at properly and securely custodying your Bitcoin.

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My encouragement would be to find a trusted partner that does this all day, ever day with clients ranging from tech-savvy 20-somethings to grandparents looking to secure wealth for the next generation.

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This is exactly what we do at The Bitcoin Way.

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You are positively capable of managing your own wealth, and I’d strongly encourage you to remove all counterparties from your setup. But it takes new skills and, perhaps, a strong partner that can hold your hand through the process.

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