Am I doing anything wrong by holding bitcoin?⁰ - page 3.

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

Quote from: CaCO3 on December 31, 2020, 11:12:32 AM

I put all my bitcoins in the coinbase(KYC). Is it safe or dangerous for me?

How good are you at staying virus free and keeping your devices secure? If you're fairly good at not clicking random links or downloading random stuff and you're the only person with access to your computer then you can safely use a software wallet or you can buy a trezor or ledger (from official sites only - not amazon or another reseller).

If not you should be fairly safe with coinbase but exchanges are hard to trust, coinbase seems to have randomly lost a bunch of users kyc info also recently so (but they probably prioritise funds over other data with security methods anyway) ...

CaCO3

member

Activity: 120

Merit: 12

Quote from: jackg on December 31, 2020, 11:04:25 AM

As long as it isn't funds you despirately needed then you're fine holding them in bitcoin.

It's your choice whether you hold funds in an exchange or in a wallet and you haven't specified which but if you're wanting to use a wallet like electrum or bitcoin core I'd suggest sending a few transactions to and from the wallet and exchange with small amounts so you get used to sending funds. I'd also suggest, whenever you send funds to an address, check the first and last 5 characters match between Windows/screens and optionally check a random string in the middle of the address is there too (just a few characters or try to make out a word).

Sir, I put all my bitcoins in the coinbase(KYC). Is it safe or dangerous for me?

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

As long as it isn't funds you despirately needed then you're fine holding them in bitcoin.

It's your choice whether you hold funds in an exchange or in a wallet and you haven't specified which but if you're wanting to use a wallet like electrum or bitcoin core I'd suggest sending a few transactions to and from the wallet and exchange with small amounts so you get used to sending funds. I'd also suggest, whenever you send funds to an address, check the first and last 5 characters match between Windows/screens and optionally check a random string in the middle of the address is there too (just a few characters or try to make out a word).

CaCO3

member

Activity: 120

Merit: 12

Yesterday I bought some bitcoin. I have invested $12,000 in Bitcoin. And in the next two days I will buy some more bitcoins. I wish I could hold these bitcoins. I believe that in 2021 these held bitcoins of mine will make me much happier. Certainly I'm not doing anything wrong by holding bitcoin. As a newbie, I'm not very experienced. So I look forward to the advice of experts.
May the new year bring endless peace in everyone's life.
Happy New Year in advance.

Topic: Am I doing anything wrong by holding bitcoin?⁰ - page 3. (Read 787 times)