How do you Buy Bitcoin?

A Guide to Bitcoin: Self-Custody vs. Custodial Services

Bitcoin offers a powerful way to take control of your finances, reflecting the stewardship and independence we’re called to in faith. You can store and manage Bitcoin in two primary ways: self-custody, where you hold your own keys, or custodial services, where a trusted platform manages them for you. This guide walks you through both approaches, sharing their benefits and challenges. We’ll recommend trusted tools to help you use Bitcoin confidently in 2025, whether you’re a beginner or a seasoned believer seeking financial freedom for God’s work.

Understanding Self-Custody

Self-custody means you personally hold the keys to your Bitcoin, giving you direct ownership without relying on others. It’s like keeping your savings in a secure, personal safe, reflecting the principle “not your keys, not your Bitcoin.” This approach aligns with Bitcoin’s vision of financial independence and responsibility.

Pros of Self-Custody

  • Full Ownership and Freedom: You have complete control, ensuring no one can restrict or take your Bitcoin without your permission.

  • Strong Security for Long-Term Holding: By storing keys offline, you protect your Bitcoin from online risks, like exchange failures, much like safeguarding a treasure.

  • Privacy for Your Journey: Your transactions remain private, honoring your desire for discretion in stewardship.

  • Direct Access to Bitcoin’s Network: You can engage with Bitcoin’s features, like fast payments or peer-to-peer giving, without barriers.

Challenges of Self-Custody

  • Weight of Responsibility: If you lose your keys or seed phrase, your Bitcoin cannot be recovered—it’s a solemn duty to keep them safe.

  • Learning Curve: Setting up a wallet may feel complex at first, like learning a new skill for ministry.

  • No Safety Net: There’s no “forgot password” option; errors can be permanent.

  • Need for Care: Phishing or careless habits can risk your funds, requiring vigilance.

Tutorial: How to Self-Custody Bitcoin Step by Step

Self-custody is a rewarding practice with the right tools. We recommend wallets like Muun, Aqua, Phoenix, or Manna, and non-custodial exchanges like PeachBitcoin.com or HodlHodl.com for direct, faithful trading. Let’s walk through the steps together.

  1. Find Your Wallet and Exchange:

    • Wallets: Pick a self-custodial wallet like Muun (simple and welcoming), Aqua (versatile for giving), Phoenix (swift for global outreach), or Manna (private for discreet stewardship).

    • Exchanges: Use PeachBitcoin.com or HodlHodl.com for peer-to-peer trading, sending Bitcoin straight to your wallet.

    • Download from trusted sources: muun.com, aqua.net, phoenix.acinq.co, mannabitcoin.com, peachbitcoin.com, or hodlhodl.com.

  2. Set Up with Care:

    • Install the wallet app on your phone or computer, or access the exchange’s website. Always verify you’re using the official source to avoid deception.

  3. Secure Your Keys:

    • Create a new wallet or account, which generates a 12-24 word seed phrase—your master key.

    • Write it down on paper or engrave it on metal, storing it in a safe place, like a locked box, never online.

  4. Test with a Small Step:

    • Trade or buy a small amount of Bitcoin (e.g., $10) through PeachBitcoin, HodlHodl, or another source, sending it to your wallet.

    • Check the transaction using a blockchain explorer like blockchain.com, like confirming a letter arrived.

  5. Move Your Bitcoin:

    • For exchanges: Trade directly to your wallet address via PeachBitcoin or HodlHodl.

    • For wallets: Send Bitcoin from another source to your wallet address, carefully verifying the address.

  6. Protect and Maintain:

    • Add a PIN, biometric lock, or two-factor authentication for extra peace of mind.

    • Keep your wallet updated and stay alert for threats, much like tending a garden. For added security, explore multisig options.

Start with small amounts to build confidence. Muun and Aqua are gentle for beginners, while Phoenix and Manna shine for fast transactions and privacy.

Understanding Custodial Services

Custodial services, like Strike, River, or Unchained, hold your Bitcoin keys for you, much like a bank holds your savings. They’re approachable for those starting out, but they require trust in the provider, like entrusting a friend with your belongings.

If you live in America and/or are just looking for an investment, this may be the best option for you!

Pros of Custodial Services

  • Simple and Welcoming: Easy apps make buying, sending, and storing Bitcoin straightforward, like using a familiar tool.

  • Help When Needed: If you forget your password, support teams can assist with recovery.

  • Built-in Features: Enjoy tools for trading, payments, or even multisig (e.g., Unchained) within one platform.

  • Trusted Oversight: Many services follow regulations and offer insurance, providing comfort for new users.

Challenges of Custodial Services

  • Shared Responsibility: If the platform fails or is compromised, your Bitcoin could be at risk—trust is a weighty choice.

  • Online Vulnerabilities: Funds stored online face higher risks than offline wallets.

  • Less Privacy: Platforms may collect your information for compliance, like a bank requiring records.

  • Limited Freedom: You rely on the platform for access, which may involve fees or delays.

Tutorial: How to Use a Custodial Bitcoin Service Step by Step

Custodial services are a gentle entry point. We recommend Strike, River, and Unchained for their reliability and heart for Bitcoin users.

  1. Choose a Trusted Service:

    • Strike: Perfect for buying and sending Bitcoin with free withdrawals to your own wallet.

    • River: Focused solely on Bitcoin, with full reserves and easy transfers.

    • Unchained: Offers collaborative custody with multisig for shared security.

    • Visit strike.me, river.com, or unchained.com.

  2. Create Your Account:

    • Sign up with your email and a strong password.

    • Complete identity verification with an ID, as required for safety.

  3. Add Funds:

    • Link a bank account or card.

    • Deposit dollars or another currency to prepare for buying Bitcoin.

  4. Purchase Bitcoin:

    • Go to the “Buy” section, select Bitcoin, and complete your purchase. Your Bitcoin will be held in the platform’s wallet.

  5. Manage with Care:

    • Enable two-factor authentication and use a password manager for security.

    • Monitor your balance and send Bitcoin as needed, like sharing resources with your community.

  6. Move to Self-Custody:

    • When ready, withdraw Bitcoin to a self-custody wallet (e.g., Muun) for greater control.

Keep only what you need for daily use on custodial platforms, as wise stewards suggest.

Conclusion: Which Path is Yours?

Self-custody, with wallets like Muun, Aqua, Phoenix, or Manna, or exchanges like PeachBitcoin.com and HodlHodl.com, is a blessing for those seeking security and privacy in their Bitcoin journey. Custodial services like Strike, River, or Unchained offer a warm starting point for beginners, though they come with risks. A balanced approach—using custodial services for small amounts and self-custody for the rest—can serve you well. Start small, pray for wisdom, and seek guidance as you steward your resources.

Disclaimer: This guide is for educational purposes. Bitcoin involves risks; please research and consult professionals.