Best Trading Platform - page 2. | Bitcointalksearch.org

rs1971

newbie

Activity: 5

Merit: 2

Quote from: TheBeardedBaby on August 27, 2022, 07:38:44 PM

Are you planning to trade with the BTCs or just holding?

Just holding

Quote from: TheBeardedBaby on August 27, 2022, 07:38:44 PM

If you just want to HODL then you should move your money from the exchange as soon as you make the purchase. Do you have a plan where you will be keeping those coins?

If you don't, then you should sit and read a bit about securing your funds. The crypto currency is nothing like the monetary system we all know. You can lose your funds forever by doing some small mistakes and there is no coming back. I don't want to scare you, I just want you to know that you have to make a plan how to keep your funds safe. A hardware wallet seems to be the best option.

Yes, I have a Ledger hardware wallet that I've been moving my coins / keys to. My plan is just to keep everything (I'd only buy BITC) on that same wallet. Would there be any reason to split them up and put them on more than one wallet?

As an aside, what's with the hodl spelling? I guess that it was just a meme that cuaght on at some point?

Anyway, thanks for the response!

jackg

copper member

Activity: 2856

Merit: 3071

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

I don't know where your limit comes from, have you don't kyc (submitted ID documents and completed all that)?

Did you send your funds on the last occasions to the same place? If you want to wire a large amount and you can send to the same place and your bank account accepts it, I'd send a small amount, a larger amount and then the rest of the amount and do it that way.

I'd be careful about trying to do this though if you're wanting your funds to be fully secure you should get a hardware or airgapped wallet and experiment with a few $ hundred in bitcoin before doing such a large move just to be sure you've done everything as correctly as possible (and not make yourself worry if you get a scam email or something too).

sheenshane

legendary

Activity: 2366

Merit: 1206

Coinsbase.pro is good for a newbie like you because it has a simple interface that is easy to understand.
I've been Googling it but it seems Coinbase.pro has a 0% fee upon buying Bitcoin when you reside in the US or EU which I think you're on the right track.

You can try alternatively the signature I wore below.
You can calculate also the possible fees that you're going to pay.

Just a tip, don't store Bitcoin on an exchange, make sure you have full control over your Bitcoin, and transfer it to an external wallet like a hardware wallet.

TheBeardedBaby

legendary

Activity: 2198

Merit: 3146

₿uy / $ell

Hello and welcome 😊
It's always good to ask, no worries.
Same as for your other question regarding the taxes, it depends on where you are located.
With that sum you'll need to go through KYC to be able to withdraw the bitcoin.

Are you planning to trade with the BTCs or just holding?

If you just want to HODL then you should move your money from the exchange as soon as you make the purchase. Do you have a plan where you will be keeping those coins?

If you don't, then you should sit and read a bit about securing your funds. The crypto currency is nothing like the monetary system we all know. You can lose your funds forever by doing some small mistakes and there is no coming back. I don't want to scare you, I just want you to know that you have to make a plan how to keep your funds safe. A hardware wallet seems to be the best option.

rs1971

newbie

Activity: 5

Merit: 2

Hi,

Apologies for such a basic question, but I am new to bitcoin and it can all be a bit overwhelming. So far I've just dipped my toe in the water and I've made all of my trades (9x$1000) on coinbase pro. The money is free to ack into the account ($2000 / day limit) and each trade is $6.95. I'm toying with the idea of making a larger purchase ~$200k and I'm not sure how to do it. The most straight forward option would be to wire the money into my coinbase account and make the trade just like I've made the others. Is this a reasonable way to do the transaction or is there a cheaper and or safer and or better way to do this?

Thanks!

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