Bitcoin

Expand your crypto research beyond Bitcoin Cash, Cardano, and Stellar; consider looking into Bitcoin (the first and most widely recognized cryptocurrency), Ethereum (ETH) for its smart contract ecosystem, and Solana (SOL) for speed and low costs.

Crypto news is complex for you, so instead of news, focus on understanding the technology and use cases of each project.

Remember that the crypto world is very volatile. Many cryptocurrencies rise quickly and fall just as fast. If you prefer a lower-risk approach, consider sticking with well-established projects with strong use cases.

For Electrum, the crypto wallet requires a generated seed phrase to secure wallet creation; you can't use a custom list. Using a self-made list significantly increases the risk of losing funds, as it does not adhere to the BIP-39 entropy standards, which govern the generation of seed phrases.

Border wallets are not inherently safer for this. Prioritize Electrum's generated seed, store it securely, and avoid custom lists.

Version 0.12.0 is a very outdated version and incompatible with new Bitcoin networks. Direct transfer is risky.

I would suggest trying to export your private keys from your old wallet and then importing them into your new wallet.

According to USA policies regarding crypto trading, the age restrictions are there before investing in Bitcoin. So minors can't invest in Bitcoin. But there are some ways minors can trade work.:

Parents or guardians can open custodial accounts or purchase Bitcoin on the minor's behalf. Parents or guardians buy the bitcoin and transfer it to the minor's wallets.

For crypto, spot trading is generally safest for beginners. Futures are high-risk, high-reward. Copy trading can be risky if you don't vet the trader. Merging methods is possible but complex. Risk management is paramount in all crypto trading.

I prefer spot trading with strong risk controls. But remember, no single "best" exists; it depends on your risk tolerance and goals.

Bitcoin's blockchain is highly secured because of its decentralized nature (no single person or group can easily manipulate or shut down the network) and cryptographic algorithms (creating unique, complex codes), which are nearly impossible to hack.

Certain exchanges, including personal wallets, pose vulnerabilities. For long-term holdings, don't store your assets on exchanges. So for larger holdings, it's advisable to use hardware wallets. Always use strong passwords and enable two-factor authentication.

Coinbase Pro, or Kraken, can be used for bitcoin purchases. Binance.US is also a cost-effective option. Avoid credit card purchases, as they have high fees, and use a dollar-cost averaging (DCA) strategy for investment. Explore on-chain options like Swan Bitcoin for recurring buys.

In the US, it's still not clear how Bitcoin is regulated. The CFTC calls it a commodity, and the IRS calls it taxable property. However, the IRS does not recognize it as currency. The lack of a single definition makes it harder for normal financial integration to happen because regulators aren't sure what to do.

Bitcoin's price is affected by many things, such as how investors act, changes in rules and regulations, the economy, and the mood of the market as a whole.

Short-term price changes are unavoidable, but long-term buyers tend to focus on bigger trends like adoption and progress in technology.

The first thing you need to understand is that the cryptocurrency market is large and risky due to its volatility. So you have to be very careful before investing. Then you need to learn how bitcoin works (blockchain) and its decentralized nature.

Then, types of wallets, which one is the best to store your bitcoins (https://fincuss.xyz/topic/126/how-can-i-secure-my-bitcoins/2), private keys, and all the tax implications (https://fincuss.xyz/topic/72/how-does-taxation-work-with-cryptocurrencies/2).

For investing, which are the best trading platforms available, like Coinbase, Cash App, or Kraken? And out of all, which is the best user-friendly platform?

Start investing with small amounts because of the risk factor. Dollar-cost averaging (DCA) would be the best option for you, where you start investing with $1 on a weekly or monthly basis as well.

So before investing, stay updated and do your own research and beware of any scams or traps.

Yes, you can start investing in Bitcoin for only $15. There are many platforms, like Coinbase and Cash App, that allow users to purchase bitcoin even with $1.

AIP is a fantastic strategy for small and regular investments, and there are some platforms that can help you, like Coinbase and Binance. These platforms offer you the opportunity to invest in small amounts at set intervals (weekly, monthly). This reduces the chance of instability.

In the end, just keep one thing in your mind: the crypto world is very volatile, and risks are always there, but AIP (automated investment plans) or DCA (dollar-cost averaging) help you to even out the average buying price over time.

The US government regulates the crypto exchanges in the country. Investing in cryptocurrency largely depends on your risk tolerance capacity, investment goals, and stability.

For long-term investments, Bitcoin and Ethereum are the best and most trusted options. It's actually good for beginners, too.

For stability and a low risk factor, invest in Stablecoins. USDT and USD coins provide you with stability.

Dogecoin and Solana are other good options where you can invest.

There are many things you need to consider before investing in cryptocurrency to avoid the risks.

Prices of cryptocurrency fluctuate very quickly, so invest mindfully. You could lose money if someone hacks the wallets where you store your bitcoins. The world of cryptocurrency is still evolving, creating uncertainty, and changes in regulations could potentially impact the market. Unlike other traditional investments, the government does not provide consumer protection for cryptocurrencies. Crypto transactions are irreversible, meaning once money is sent, you can't get it back.

There are 2 main types of wallets available to secure your Bitcoin. Hot Wallets and Cold Wallets.

Hot Wallets: These wallets are connected to the internet for frequent transactions which makes them more vulnerable to hacking.

Web Wallets: These are online wallets, hosted by 3rd parties like Coinbase or Blockchain.com. You need to trust these 3rd parties with your private keys.

Software Wallets: These are digital wallets installed on your mobile, desktop or tablet. Examples are Trust Wallet, Bitcoin Core.

Cold Wallets: These wallets are not connected to the internet, which makes them a more secure option to store your bitcoins.

Hardware Wallets: These are physical devices that store your private keys offline, which makes them the most secure option to store your bitcoin. Trezor, KeepKey are some examples.

Paper Wallets: These are physical pieces of paper with keys stored physically on paper, and because of this they are vulnerable to damage and theft.

If you want to trade frequently, then Software Wallets are good option, but if you want to store your bitcoin for a long duration, then Hardware Wallets are the best option for you. 
But selecting which types of wallets totally depends on your requirements and your risk tolerance capacity.

Cryptocurrency is a digital currency that employs cryptography techniques to safeguard transactions. This method directly converts information into a code format, which only an authorized party can decode.

Cryptocurrency operates on decentralized networks; that means there is no central authority controlling their creation or distribution.

There are many factors that differentiate the cryptocurrency from any other traditional currencies, like decentralization, cryptography, transparency, and volatility.

Bitcoin, Ethereum, Tether, and Solana are some common examples of cryptocurrency.

Hardware Wallets (Ledger,Trezor) are the safest option for storing your Bitcoin, since they hide your keys offline and shield you from hacks.
Set up two-factor authentication , Use strong passwords and avoid sharing your private keys.

In the States, cryptocurrencies are considered taxed property. This means you must pay taxes on any profits you make from selling or trading bitcoin. There is no tax on just moving money from an exchange to your bank account; taxes apply to any earnings from trading or selling. You must maintain a record of your transactions for your tax returns, allowing you to track any gains or losses.

Thanks for your advice. But I am planning to invest around $150-$200 in bitcoin. I want to know if investing this much in bitcoin would be worthwhile for around 20 years. Does it make sense?

For buying and selling bitcoin in USA there are some user friendly platforms:

Coinbase: most trusted place to buy, sell and manage bitcoin. It’s quick, easy and user-friendly crypto tool, making it ideal for beginners.

Kraken: known for its security measures, have diverse range of cryptocurrencies and gives advanced trading options.

Binance: offers a wide range of digital currencies, advanced trading features, which makes it good for beginners.

In the US, there is no federal regulation of bitcoin, but still many agencies manage distinct aspects of it.

Securities and Exchange Commission (SEC): It regulates some bitcoin-related investments and derivatives.

Commodities Futures Trading Commission (CFTC): It permits the trading of crypto assets on public derivatives markets by regulating them as commodities.

U.S. Financial Crimes Enforcement Network (FinCEN) : FinCEN requires to maintain the record of cryptocurrency exchanges that verifies the identity of users.

IRS: users must report their income, gain, or loss from all taxable transactions involving virtual currency on their federal income tax return for the taxable year of the transaction.