1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:

[BucciMane]

Brehs I`m a Sped, school me on this Wallet stuff. How often do you move coins from the exchanges to your wallet

I only keep my coins on an exchange if I plan on selling or want to trade. Don't keep more on an exchange than you're willing to lose.

 

[Apollo Creed]

I only keep my coins on an exchange if I plan on selling or want to trade. Don't keep more on an exchange than you're willing to lose.

im more so saying i hear dudes say they keep their stuff on wallets dude to the fact the exchanges (coinable) can debo your stuff to cover their debts.

 

[BucciMane]

im more so saying i hear dudes say they keep their stuff on wallets dude to the fact the exchanges (coinable) can debo your stuff to cover their debts.

Correct. They are talking about "cold storage" wallets, which only you gave access too. An example of one is a ledger wallet.

If an exchange shuts down, they have your coins. If you keep them on a ledger wallet, then the exchange can't touch it.


Edit: I'm on my phone or I'd give a more detailed response.

 

[Apollo Creed]

Correct. They are talking about "cold storage" wallets, which only you gave access too. An example of one is a ledger wallet.

If an exchange shuts down, they have your coins. If you keep them on a ledger wallet, then the exchange can't touch it.


Edit: I'm on my phone or I'd give a more detailed response.

so you personally dont use cold storage? isn't there risk of the cold storage failing? when i googled that looked like flash drives

 

[ORDER_66]

so you personally dont use cold storage? isn't there risk of the cold storage failing? when i googled that looked like flash drives

Cold storage is devices that is made to last... or you could use digital wallet / apps on your phone if you want it to be easier... just remember to remember your seed phrase

 

[BucciMane]

so you personally dont use cold storage? isn't there risk of the cold storage failing? when i googled that looked like flash drives

You also get a "back up phrase" that will grant you access to you funds. I have a 24 word phrase that needs to be typed in order if I need to access my cold storage wallet if I lose the device.

 

[null]

Brehs I`m a Sped, school me on this Wallet stuff. How often do you move coins from the exchanges to your wallet

 

[FaTaL]

im more so saying i hear dudes say they keep their stuff on wallets dude to the fact the exchanges (coinable) can debo your stuff to cover their debts.

Ledger Nano X

Make sure your crypto assets are safe anywhere you go with our most advanced hardware wallet yet. The Ledger Nano X is a bluetooth enabled secure device that offers an extensive capacity and an easy-to-use experience for crypto owners.

shop.ledger.com

yea u need this

 

[JJ Lions]

so you personally dont use cold storage? isn't there risk of the cold storage failing? when i googled that looked like flash drives

This goes thru it quickly. You lose it, it breaks, it's ok as long as you have the phrase. You can get a new one and restore it. Just make sure nobody else can get it.

 

[FaTaL]

This goes thru it quickly. You lose it, it breaks, it's ok as long as you have the phrase. You can get a new one and restore it. Just make sure nobody else can get it.

yea dont even take a picture, even though you'll be tempted. write it down and lock it up

 

[Roid Jones]

stop with the FUD.

you do not lose anything until you sell.

buy the dip

diamond mitts

Get this guy the fukk outta here

 

[null]

Get this guy the fukk outta here

talk to yourself brehs

 

[Apollo Creed]

@JJ Lions @FaTaL @BucciMane

good looks on the info. Do you all have a method for how frequently you move stuff into cold storage?

For context, I do weekly crypto buys that are automatically taken from a checking account i designate for this kind of stuff. So essentially I set it and forget it and maybe check my portfolio once a quarter/if some big news happen/i transfer BTC to do sports betting.

I assume there isn't a concept of auto transfers from exchange to cold storage?

 

[BucciMane]

@JJ Lions @FaTaL @BucciMane

good looks on the info. Do you all have a method for how frequently you move stuff into cold storage?

For context, I do weekly crypto buys that are automatically taken from a checking account i designate for this kind of stuff. So essentially I set it and forget it and maybe check my portfolio once a quarter/if some big news happen/i transfer BTC to do sports betting.

I assume there isn't a concept of auto transfers from exchange to cold storage?

I keep most of mine in a cold storage wallet. All I keep on the exchange are my staking rewards. I'd say I keep 90% in cold storage as I'm not a trader.

 

[FaTaL]

I keep most of mine in a cold storage wallet. All I keep on the exchange are my staking rewards. I'd say I keep 90% in cold storage as I'm not a trader.

what brokerages are safe for staking? i assume coinbase and crypto.com?