There will be plenty of space for 10 of each asset class to flourish globally no problems. r/CryptoTechnology Cryptosteel or similar stored in a safe place would be my strategy. If you're holding onto a significant amount of crypto, you might want to consider alternatives like splitting your seed phrase into 3 separate overlapping pieces and storing them in separate locations. Syntactical words like "the" and "and" tend to come up a lot. [–]BlackSparkk4 - 5 years account age. Supporting a big number of tokens, a wallet has the capacity to swap any crypto … If you safeguard the private key, there's really nothing to worry about. Example: Words 1-8 in Location 1. the crypto space is very fast-moving and extremely volatile because the whole thing is so new. What does everyone use to buy and sell though? CoinMarketCap (Cryptocurrency market cap info), 10k.pizza (Portfolio tracking. There’s no perfect solution sadly. You don't really get passive income in most cryptos while they are in your own wallet (staking ADA and a couple others being the exception). STEP 1: Transfer MOONs from the Reddit Vault (Reddit’s in-app wallet for MOON tokens) to your MetaMask wallet. Side note on the ledger data hack: it is my understanding that while commerce info (address, phone number) the crypto was safe because ledger does not know the user's seed phrases. It is also the most secure way to store your cryptocurrencies. One question though.. if you transfer to a wallet, how can you determine current value of your owned crypto, [–]ncoelho8 - 9 years account age. That's why they suggest overlapping the words on each piece. Also In crypto, I'm a lot less certain that coinbase won't have gone out of business in 20 years......and if they did, I'm not going to be checking crypto news every day for 20 years, there's a decent chance I just might straight-up miss news about it, and not do whatever I needed to do take ownership of my assets. Does coin base have fees for transferring in and out? I store mine in a password manager behind a strong password and its own multi-factor authentication. And that wouldn't even guarantee a payout, as you'd likely need some solid proof of what was in your box. A drawback to a hosted wallet is you can’t access everything crypto has to offer. As far as I know, major exchanges all have insurances and consider security their no.1 priority. [–]Xavierian07 17 points18 points19 points 3 months ago (1 child). It’s called hosted because a third party keeps your crypto for you, similar to how a bank keeps your money in a checking or savings account. Words 5-12 in Location 2. As of now, it is probably the most popular desktop wallet. Then there are also some that are technically feeless. [–]a5s_s7r6 - 7 years account age. Let’s say I have 0.5 ETH in my Coinbase account and decide it’s about time to transfer that to my hardware wallet. [–]LUHG_HANIGold | QC: CC 48, BTC 15 | r/WallStreetBets 11 2 points3 points4 points 3 months ago (0 children). The asset is the asset, regardless of where it is. If you’re looking to learn how to live completely off of cryptocurrency, you’ve come to the right place. Currently on Coinbase and Robinhood but am hearing gripes on both... any suggestions for a noob on best exchanges to start with until they are ready to graduate to a wallet? Thoughts on both of these, and do I need two? Crypto curious? Ideally, you can pick the one that fits your crypto habits the most. Exodus - a very user-friendly and easy to understand, reliable wallet. You're supposed to use an old laptop or purchase a cheap laptop. I've been into crypto for a long time, let me explain how this sub and the wider crypto world really works. If you want to stash crypto away for 5+ years and never look at it, I would not keep this on ANY exchange. [–]pseudoHappyHippyGold | QC: CC 50 | r/Politics 97 39 points40 points41 points 3 months ago (1 child). Trezor delete information after 3 months I believe. I know they say it's a bad idea because of hacks or the company going under, but I've left my little amount on coinbase because I'm lazy and I can see the value dip and grow with the market. r/XMRtrader Many people who were phished were asked to install an updated Ledger client in order to fix a security breach. Coinbase is likely the safest exchange to keep your crypto on, but that doesn't mean it's prudent to do so. Then I'd place Never take a picture, share, or lose your seed! Awesome, thanks! [–]tyler611 4 points5 points6 points 3 months ago (0 children). Beautiful write up. Thanks! Some wallets allow you to swap cryptos depending on regulations of where you live. Those projects shouldn't even be aiming to compete with ETH, but have their shit together ready to supplement it. [–]DDelphinus 79 points80 points81 points 3 months ago (58 children). There are a few steps you need to undergo in order to use crypto as a payment preference. [–]mmmarc 7 points8 points9 points 3 months ago (2 children). Getting into the cryptocurrency playing field can be a handful. If you want more details about choosing a wallet, a while back I wrote a thorough exploration of what wallet types are recommended for storing what value of cryptocurrency. Visit HERE. There are thousands of … 75 - 150 comment karma. The private key is what you need to keep 100% secret. Wherever you store it has its own security and it would be a good idea to do a bit of research into to find what works for you. How often should you transfer coins from the exchange platform to your wallet? I've been using the Exodus multicurrency wallet for years now, simple and easy to use. 150 - 300 comment karma. This is true; that's why you don't rely on a single form of contingency. I don't have it fully set up yet, but I just installed MetaMask on my phone in order to use uniswap. Generally, "not your keys, not your crypto" still applies here, but to get started you don't necessarily need a wallet right away. I have some more research to do. I purchased a lil extra BTC today and left it on Binance, as all the fees transferring it to my wallet (and back again if I wanted) start to add up. Cool. And if use an exchange even if It has insurance you can still lose it all. Good luck, and have fun! 113 - 225 comment karma. 200 - 400 comment karma. If you want to learn more about this, make sure to look up Mt. The 12 or 24 seed word list is your wallet and they would combine. 5 - 6 years account age. -15 - 35 comment karma. [–]TriangleMan 6 points7 points8 points 3 months ago (1 child). If you need somewhere to store your crypto, you may be looking for a crypto wallet. r/BitcoinMarkets Tell anyone how much you’re holding. If you're going to buy from the manufacturer's website, customers should ship to a PO box (post offices have this, sometimes for free), use a dummy e-mail account, use a dummy SMS service, and if you can use something like Private.com to mask your credit card information. You might've heard the names Ledger or Trezor, these are the 2 biggest brands at the moment. Select “Recover Wallet… [–]jaxonstevieRedditor for 3 months. Just like there are no dollars inside a credit card, it just authorizes transfers from account to account. r/LitecoinMining Depends on your risk tolerance. [Bundle] Ledger Nano S + Billfodl Hardware Wallet for Seed Words Backup | The Best Crypto Wallet + Cold Wallet for Crypto Compatible with BIP39 Wallets. The most popular and easy-to-set-up crypto wallet is a hosted wallet. The most important key aspect of ANY wallet out there is: [–]VyrynTin 3 points4 points5 points 3 months ago (0 children). Everyone tells you to go non-custodial but then no one explains how to buy/store/move cryptos around with non-custodials without wasting lots of money. I have a small amount of crypto now (on coinbase pro) and don't want to pay a bunch in transfer fees while I figure out where to store it. This seems to be the safer. I've been thinking about this. Would you recommend a beginner such as me to get used to crypto on exchanges such as coinbase first and then switch to using a wallet? Where do I start with this pathway? My biggest gripe with these exchanges are high fees and convenient server crashes that mean you sometimes get locked out of trading during high volume periods. So you have to weigh your risks and keep your wits around you. [–]daynthelife 2 points3 points4 points 3 months ago (0 children). Don't set Stop Loss sells because a flash crash will wipe you out. ...which suffered a data breach, leaking everyone's private information out to hackers. [–]HotBoxGrandmasCar 2 points3 points4 points 3 months ago (0 children), i prefer to go this route as well but this thread doesn't seem to have much info in it. Additionally, they're not insured or regulated by the government (at least in Canada and the US), and banks themselves often either don't insure the contents or will only cover up to a pretty small sum (we're talking <$1000). Then, six months later, I’ve made a few more monthly purchases and have another 0.5 ETH and want to transfer to my hardware wallet. In this guide, you will … It's really hard to work out what the most efficient method to swap between something like ADA and DOT or for example to buy any crypto with fiat currency (credit card / banking). 350 - 700 comment karma. Thanks for clarifying! [–]bmurphy1976Tin | r/Programming 29 2 points3 points4 points 3 months ago (0 children). 13 points14 points15 points 3 months ago (0 children), Brand new to crypto and this helped tremendously. [–]Y0uY0u 32 points33 points34 points 3 months ago (12 children). This kind of token wallet app functions only … Coinbase, Binance, Uphold, Kraken, Gemini are some of the most common, big name exchanges that have been safe, reliable, and mostly ethically sound for years. Generally, "not your keys, not your crypto" still applies here, but to get started you don't necessarily need a wallet right away. You will pay transaction fees to the network of whatever coin you are trying to transfer. As long as you have the seed, you can recover your wallet to anywhere, [–]Throwaway298596 43 points44 points45 points 3 months ago (24 children), Wow I had no clue it worked like that! Some might disagree with me simply due to the security factor, but if you do decide to withdraw your coins off an exchange into your own wallet… [–]HirasharaBronze 697 points698 points699 points 3 months ago (64 children). [–]Argentino_Feliz 27 points28 points29 points 3 months ago (0 children), Im new to crypto. Stuff like fires, losing the seed or the hardware being hacked. What is a Bitcoin & Cryptocurrency Wallet? [–]ExtraSmooth 3 points4 points5 points 3 months ago (0 children), [–]lumberjack233 29 points30 points31 points 3 months ago (3 children). Exodus Exodus is a multi-currency wallet. Similar to a 1oz bar of gold it’s value is the same whether you’re hiding it in your closet versus a safety deposit box at your bank. To everyone going through a tough time, here’s some bubble wrap to relieve some stress: Megathread: Cryptocurrency market falls significantly in 24 hours. Crypto.com DeFi Wallet is the best crypto wallet to store, grow, and earn rewards for your crypto assets, where you have full control of your private keys. One option is to keep it on paper somewhere only you have access to it, another is to get a steel pass phrase backup. [–]Roadsterrrrr 2 points3 points4 points 3 months ago (1 child), [–]Mox_Fox 6 points7 points8 points 3 months ago (0 children). [–]landocommando18 7 points8 points9 points 3 months ago (1 child). Even short term at these exchanges comes with significant risk. Exodus or Atomic mobile apps are recommended if you decide to create a mobile wallet. Your crypto can be considered safe for short-to-medium -term. Ultimately, the exchanges are going to be biggest targets for attack. [–]Yprox5Bronze 10 points11 points12 points 3 months ago* (0 children). Very new here so apologies for a dumb question. The ledger supports over 1200 cryptocurrencies, while Trezor supports over a thousand. (If someone were to find your seed phrase they would have access to your wallet), [–]Throwaway298596 3 points4 points5 points 3 months ago (11 children). Short term, use with caution but long term pull it out. If you get some profit and want to keep it (not reinvest) then move that to the wallet. Strongly considering purchasing a Ledger Nano. Is there anything that makes crypto wallets especially vulnerable? A huge variety of crypto wallets doesn’t allow to make the right choice. It's a really safe way to store your cryptos because your keys are not connected to any servers. It's arguably more dangerous than a password because there is no recovery method. 450 - 900 comment karma. Its best to just get used to a wallet in the first place. Google different types of storage for crypto - pros and cons. I have some crypto on my Coinbase Wallet but I'd prefer to switch on Atomic. [–]benicapoBronze 5 points6 points7 points 3 months ago (0 children), [–]benicapoBronze 2 points3 points4 points 3 months ago (0 children), You need to transfer to binance then trade o a bull market you can always leave smaller amounts to get onto a quick money chance quickly but keep most of ur assets in ur cold wallet, [–]moogleslam 5 points6 points7 points 3 months ago (2 children). Douse the laptop with lighter fluid and light it up. Electrum has been around since 2011 and … i out 10k into bitcoin recently with gemini. Really appreciate the insight and answers thank you, [–]DayBelle 10 points11 points12 points 3 months ago (5 children). 400 - 800 comment karma. just a bunch of keys that let you access the blockchain, where your bitcoin actually is recorded. tia! It can be used to send and receive money easily and help to possess full control over crypto … 1 - 2 years account age. [–]Milchreis23 12 points13 points14 points 3 months ago (0 children). [–]cheeseisakindof 11 points12 points13 points 3 months ago (2 children). Get a wallet. How's Electrum compare against the software ones recommended by Op? "If they get hacked, they can close shop" basically describes how they work, and that's with regulated financial instutitions. [–]Terryloooovesyoghurt 8 points9 points10 points 3 months ago (3 children). This is a very, very bad idea. This way I always have access to it but if my password manager is ever compromised I still have an extra layer of protection. 450 - 900 comment karma. I think as long as the two wallets use the same kind of seed phrase it should work. Available on Windows, Mac and Linux as well. Buy or transfer crypto. How crazy are you trying to get with securing those 12 words? https://vyryn.medium.com/bitcoin-keys-and-how-to-store-them-1238a1d9ba0a, [–]Hunchmine 3 points4 points5 points 3 months ago (0 children). Platinum | QC: CC 132 | r/WallStreetBets 173. A Ledger Nano S only cost me $80 including shipping, so it's a pretty good investment for long term storage. It basically serves as the password of your account. 25 points26 points27 points 3 months ago (9 children). I haven't used any to store coins yet, so do your research before you try them. This is false. I just sold all of my crypto to pay lawyers and paperwork to get my italian citizenship. SECURITYA Beginner's Guide to Cryptocurrency Wallets (self.CryptoCurrency), submitted 3 months ago by Weaver96Platinum | QC: CC 26826338224163633& 261 more. However, not a single coin was stolen as hackers didn't gain access to private keys. Get the latest iOS version for free on Apple’s AppStore. Step 3: Managing Your Crypto Assets in a Secure Wallet As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There is absolutely a fee, every crypto has some sort of fee to move things on their network (moving from exchange to wallet is an kn blockchain transaction). For example, I hold my coins in Shakepay/coinzoom. In most cases, it's much better to allow a portion to build up over time, and then transfer it once, if someone is DCAing small amounts. [–]arex333 2 points3 points4 points 3 months ago (0 children). [–]sachizm8 - 9 years account age. Not sure about atomic. ", [–]robendbouaBronze 3 points4 points5 points 3 months ago (0 children). But the good news is price charts are actually easier to read than you may think. Or is it just not cost effective in those quantities? 3) Not critical but if possible, try to have the order shipped to a public address such as a business, dormitory, hotel, large residential building, etc. No problems for me and I'm talking 3 years of using the wallet. [–]Weaver96Platinum | QC: CC 268[S] 30 points31 points32 points 3 months ago (10 children). I am still a bit confused on the difference between exchange platforms like coinbase and wallets. I have been trying to search but all I have found are lists like this giving precedence to the most secure methods of holding coins with vague explanations as to the "why" they are more secure. experiment with smallest denomination of coin possible. … On the subject of the Ledger leak, I would advise that if you order a Ledger wallet or any other hardware wallet from any other provider to use the following precautions when placing the order. Also your private key contains your address, so never share your private key. use the following search parameters to narrow your results: Join Discord Since the desktop wallets you mentioned here are also available on mobile. Depends on the person. The seed phrase is only for recovering the funds if the wallet is lost or damaged. Available on Windows, Mac and Linux. The fee might also depend on how busy the network is. The Nano X also has Bluetooth 5.0 support. 2 points3 points4 points 3 months ago (4 children). Rather, the best crypto wallet for you depends on what you intend to do with your crypto. But once you get a grasp on the whole concept of virtual money the rest is easy. 3 - 4 years account age. EDIT: it feels like this is an important part of getting started in crypto. If you lose your physical hardware wallet, you can never get your crypto - is that right? 1) Use an alias. [–]Chasty- 5 points6 points7 points 3 months ago (1 child). As for core wallets, I love ARK's wallet a lot. The % fees on exodus' exchange seem higher than custodial wallets / central exchanges but then there are transaction fees if I want to move crypto to a central exchange like binance and do the exchange there. If they get hacked, they can close shop. And public keys are okay to share, correct? So if I store my crypto onto a cold wallet, how easy is it to move the crypto from the cold wallet to an exchange and vice versa? NOT your keys NOT your wallet! I’m a crypto… The Trezor One is the cheaper alternative ($59), while the Model T is more expensive but comes with extended functionality and additionally supports cryptocurrencies such as ADA, XMR, XTZ, etc. It's a trade off between security and being able to cash out or trade immediately. Note: Desktop wallets tend to be more advanced than mobile wallets, and usually come with more technically complicated features that can increase privacy or allow for more flexibility when it comes to signing transactions. I’ve been looking to move to my first wallet how is the passive income on a desktop wallet versus Celsius or Nexo? Like what makes this phrase more dangerous than a simple password? You can consider a hot wallet like a traditional wallet – a place to store a portion of crypto to make fast and easy purchases. If you decide to go with a mobile wallet (instead of a paper, hardware, or a desktop wallet), Exodus or Atomic are both available on iOS and Android. It’s saying … Just so you know, that might not actually be advisable, especially if you are talking about something like BTC. [–]P_Jamez 8 points9 points10 points 3 months ago (0 children). Even with their extensive resources dedicated to security, they are more prone to attack than a mobile wallet or hardware wallet stored safely at home simply because attackers know that there's hundreds of millions of dollars involved. You're probably fine, especially if it's not a huge amount. Oh my god!!! Is there something here I'm missing? You are also able to move it to another wallet. -15 - 35 comment karma. Fucking EVER. [–]Ctrl_Fr34k 2 points3 points4 points 3 months ago* (0 children). Crypto⦠1 point2 points3 points 3 months ago (0 children), [–]pholuck2 - 3 years account age.
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