Bitcoin for beginners: where to start

What is Bitcoin?

Bitcoin is digital money that runs on a public network with no bank or company in charge. It launched in 2009 after a whitepaper by the pseudonymous Satoshi Nakamoto. There will only ever be 21 million bitcoin. Each bitcoin splits into 100 million units called sats, so you can own a small amount.

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New to self-custody? Grab Blocky's Self-Custody Starter Kit, free: it walks you through choosing, setting up and backing up a wallet, step by step.

Every transaction is recorded on a public ledger called the blockchain. A new block is added roughly every 10 minutes by miners, who use computing power to secure the network and earn new bitcoin plus fees.

Buying safely in the UK

Use a platform registered with the FCA for crypto. You can check the firm on the FCA Register before signing up.
Know that crypto is mostly unregulated and you are unlikely to get FSCS or Financial Ombudsman protection if things go wrong.
Turn on two-factor authentication with an app, not SMS where you can.
Start small and send a test withdrawal to your own wallet.
Keep records. Gains on crypto can be subject to Capital Gains Tax in the UK.

Avoiding scams

Nobody genuine will ever ask for your seed phrase. Anyone who does is a scammer.
Guaranteed returns, "doubling" offers and giveaways are scams.
Be wary of people you meet online who steer you to an investment app.
Fake support accounts reply on X and Telegram. Real support will not DM you first.
If you are scammed, report it to Report Fraud (formerly Action Fraud).

Read the source: the Bitcoin whitepaper, then pick up one of the best Bitcoin books.

Got a question? Try the Bitcoin FAQ.

Learn by watching

Watch: Bitcoin explained

But how does bitcoin actually work?

3Blue1Brown

The clearest visual walk-through of signatures, the ledger and proof of work.

Introduction to Bitcoin: what is bitcoin and why does it matter?

aantonop

Andreas Antonopoulos on why Bitcoin matters, in plain language.

How does a blockchain work

Simply Explained

A short animation that makes blocks and hashes look almost friendly.

How Cryptocurrencies Actually Work: Bitcoin Explained

SciShow

A neutral science-channel overview of mining and transactions.

What is Bitcoin? (v2)

WeUseCoins

A classic two-minute animated intro for total beginners.

Are Hardware Wallets Secure Enough?

aantonop

How to pick a self-custody setup that matches your skill level.

Why is Seed Splitting a Bad Idea?

aantonop

Why DIY seed tricks lose more coins than hackers do.

Next: learn to hold your own keys, or browse the glossary.

You'll need: a wallet you control. For savings, a hardware wallet bought direct from the maker (see which hardware wallet?), for example BitBox02 (affiliate link)⁠*, Jade (affiliate link)⁠* or Ledger (affiliate link)⁠*. Plus a steel backup for your recovery words, for example Billfodl on Amazon UK (affiliate link)⁠* (see paper or metal?). New to all this? Grab Blocky's Self-Custody Starter Kit, free. It walks you through it step by step.

As an Amazon Associate SHATOSHI earns from qualifying purchases.

Not financial advice. This page is general education only. Bitcoin prices can swing hard. Never put in more than you can afford to lose, and do your own research.