Getting Started with Bitcoin: A Beginner's Guide

Posted on March 03, 2025

Mobile-Only Alternative (Desktop version to follow)

Here are separate instructions if you want to use your phone only and not your computer. Not recommended for larger amounts over $10k.

If you just want to get started with a smaller amount of bitcoin to try it out, you can simply:

  1. Download either Phoenix Wallet or Blue Wallet on your phone
  2. Purchase Bitcoin through an exchange app like Coinbase or Bitcoin Well
  3. Transfer your purchased Bitcoin directly to your Phoenix Wallet or Blue wallet

Remember that mobile wallets are convenient but generally less secure than desktop wallets like Sparrow for storing larger amounts. Always back up your recovery phrase securely.

This video provides instructions for obtaining your first bitcoin.

Why Bitcoin Matters

Taking control of your labor and money with Bitcoin can take time and energy. If you're thinking of investing any significant portion of your wealth in bitcoin, you need to be prepared to study and learn. This guide is designed for those who want to begin their Bitcoin journey.

This guide is for people who want to keep accumulating Bitcoin over the years and store it safely and securely—not for those who just want to buy a small amount and forget about it.

Step 1: Get a Password Manager

Before you start buying Bitcoin, set up a password manager like Bitwarden. In the cybersecurity space, it's considered essential to use a password manager for sensitive information like your various Bitcoin account passwords. With multiple complex passwords to manage, a password manager is indispensable.

Skip this step at your own risk. You have been warned.

Step 2: Set Up Sparrow Wallet

Sparrow wallet will be your main interface for interacting with your Bitcoin. From here you can receive, send, view history, and mix your Bitcoin.

You should set up your wallet before buying bitcoin because you'll need a place to store your bitcoin securely. Once you get Sparrow wallet running, immediately save your recovery phrase in your password manager.

Step 3: Buying Your First Bitcoin

You have several options depending on your location:

  • In the USA: Bitcoin Well or Coinbase
  • In Canada: NDAX.io or Newton.co

As soon as you buy your Bitcoin, move the coins into Sparrow wallet. Do not leave your coins on any exchange! Exchanges are frequently hacked and are not safe for long-term storage.

Important Safety Tips

  1. Securely store your recovery phrase to your Sparrow wallet. Whoever has this phrase has access to your money, and you won't ever get it back.
  2. Never share this recovery phrase with anyone for any reason. Legitimate tech support will never ask for this. Anyone trying to get your phrase is attempting to scam you.
  3. Do not add any extensions related to Bitcoin to your browsers. Many are designed to steal your recovery phrase and funds.
  4. For beginners, it's recommended to stick with Bitcoin rather than experimenting with other cryptocurrencies.

Using Bitcoin for Purchases

Unless you're visiting Bitcoin-friendly locations like El Salvador or Costa Rica, you won't have many places to spend your Bitcoin immediately. That's okay—just continue to accumulate and hold.

If you want to learn how to use Bitcoin for daily transactions, consider using Phoenix Wallet: