Topic: Best way to hold coins? - page 2. (Read 887 times)
Holding on your computer is the best way. It is not very hard to download and learn how to use a pc wallet. You just need to know how to read and some knowledge about computer
Exodus works really well, and supports a bunch of different coins (ETH, BTC, OMG, LTC, etc..)
Hey guys,
I've read around a bit, googled, but I know many are active traders - so I'll ask here:
Background: I have about 6 coins currently (not much) and 1 ICO (in it's own wallet, of course). Some of these are active trades, some for hold. Currently I have 1 in a Cryptopia Wallet (unsure if this will be hold or active yet) and 5 in Bittrex Wallets. I also have Exodus and mine ETH and DCR to those wallets.
What is the preference?
Thanks. Just trying to figure this all out
If you hold the currencies short-term then bittrex is quite all right. If all the currencies are for long-term holding then I would advice myetherwallet for eth, blockchain.info for ethereum and in general just choose the most recommended wallet for each currency. Yet of course the safest way to keep currencies is an so-called paper wallet with none of your access keys on your computer. Surely thus you risk to lose the damn piece of paper and coins along with it. I've read around a bit, googled, but I know many are active traders - so I'll ask here:
Background: I have about 6 coins currently (not much) and 1 ICO (in it's own wallet, of course). Some of these are active trades, some for hold. Currently I have 1 in a Cryptopia Wallet (unsure if this will be hold or active yet) and 5 in Bittrex Wallets. I also have Exodus and mine ETH and DCR to those wallets.
What is the preference?
- Have my own PC-based wallet and back it up?
- Use a hard-wallet? (thinking like Trezor)
- Other?
Thanks. Just trying to figure this all out
You should store your coins in a cold wallet like Trezor or something. You shouldnt use online wallets, because you dont know who is the owner of the server. Maybe he is going to scam you one day..
The best way to hold your coin is when it reach your expected price then get ready to release it. Just to avoid certain regrets if you sell it in a low price.
If you intend to hold your coins for long term, a hardware wallet is a good choice.
Don’t hold your coins in exchanges for long term, you don’t have control over your coins and anything can happen.
Don’t hold your coins in exchanges for long term, you don’t have control over your coins and anything can happen.
ok. Looking into hard wallets. I already got the long-holds off Bittrex. It's a step in the right direction, it seems.
Best way to hold coins? Use hard wallets. No matter how small the amount you have, never leave it in an exchange for a day or even hours. None of them is going to help you when they get hacked - which happens more often than you'd think - and lose funds.
Think you should go with hardware wallets. They are the most secure and you are in control of your private keys the whole time! Compare that to an exchange where they own your keys. This iis bad for several reasons
mainly being they own your tokens or coins. Lest we forget to mention an exchange gets hacked, also bad. Lastly if any coin or token is airdropped on those coins in an exchange you are not eligible for those neither. Too
many reasons to get hardware wallet, I suggest you get one ASAP if serious about cryptocurrencies.
mainly being they own your tokens or coins. Lest we forget to mention an exchange gets hacked, also bad. Lastly if any coin or token is airdropped on those coins in an exchange you are not eligible for those neither. Too
many reasons to get hardware wallet, I suggest you get one ASAP if serious about cryptocurrencies.
You hold your coin by only you hold Private key! Other, the same you can not hold your coin
Long term holds - have your own wallet
Short term stuff - exchanges
For small amounts, I don't think it's worth the hassle to download loads and loads of wallets, so this can be kept on exchanges.
Everyone has their own preference though
Short term stuff - exchanges
For small amounts, I don't think it's worth the hassle to download loads and loads of wallets, so this can be kept on exchanges.
Everyone has their own preference though
I would like to run this through you guys for some feedback
Lenovo X200 with hdd and wifi card removed
Tails with persistent volume long complex password enabled
Install all the wallets that you like and generate five to twenty addresses on each one depending upon investment size in respective coin.
Also create a file on persistent volume with all your passwords and secret keys for every trading site that you use.
Also create a set of instructions for your loved ones to use in the event that you die.
Clone the drive and send it to three different locations, one location (location 2) which is not far from home location one
Give the Tails persistent volume password to those who you trust.
Rather than sign transactions offline, just burn the many addresses for each coin, as and when you like.
Continue to alter the wallets or add new the wallets in tails location one and add additional wallets and keep back up clone in nearby location two.
Whenever the investment addresses are significantly different, then send a clone to location three and four.
Lenovo X200 with hdd and wifi card removed
Tails with persistent volume long complex password enabled
Install all the wallets that you like and generate five to twenty addresses on each one depending upon investment size in respective coin.
Also create a file on persistent volume with all your passwords and secret keys for every trading site that you use.
Also create a set of instructions for your loved ones to use in the event that you die.
Clone the drive and send it to three different locations, one location (location 2) which is not far from home location one
Give the Tails persistent volume password to those who you trust.
Rather than sign transactions offline, just burn the many addresses for each coin, as and when you like.
Continue to alter the wallets or add new the wallets in tails location one and add additional wallets and keep back up clone in nearby location two.
Whenever the investment addresses are significantly different, then send a clone to location three and four.
I think the best way to persuade yourself to lock your coin is to forge, there are many coins supporting forge, such as XAS, Lisk, Oxy, DCT and so on. This not only help you hold you coins, but also increase the quantity of you coin. Coins support forging are usually promising ones that will boom in the future.
Find your favorite wallet, then use it as much as possible.
ETH is more convincing than any altcoin available. As well as in my opinion, more profitable and promising in the future. And it's worth for our investment.
I think that the best way to hold your free tokens on your own wallets not on the markets, because it's not safely.
I think it is best to use original wallets in your isolated computer. This could be clean linux distribution if they allow etc. You can only download chain and store coins in it. And no other operations, no java flash no malware bringing applications..
If your portfolio is worth more then $ is worth more then $2k then you should think about buying a hardware wallet... because if you hold only $100 then it doesn't make sense to buy a hardware wallet cos it costs ~$100. There are 6 hardware wallets out there I think atm, you can find reviews for each of them here: https://besthardwarewallets.com/. Also depends which coins you hold because these hardware wallets don't support that many, just the bigger ones.
Just making sure I understand here... because it is all way over-confusing to start:
AltCoins - I can only store these (long-term) in their own wallets, correct?
Electrum seems to be only a bitcoin wallet, so this would be after a trade if I wanted to not trade anymore and store the BTC?
I do use Exodus, so I have some others stored there, but it's not like there are a ton of altcoin options there either.
So that leaves...
Altcoins - Longterm - Store in their own wallet, then?
Altcoins - Short Term - store in exchange with limit order?
BTC - remove the amount from the exchanges that I'm not actively trading with?
Safety - use paper wallet or Ledger/Trezor.
Trying to cover all my bases here. I think I'm understanding some of this.
One more, you need to know that token which use ethereum smart contract also exist, will simply require you MyEtherWallet compatible for hardware wallet just like trezor and you can store all those token in just one wallet securely.AltCoins - I can only store these (long-term) in their own wallets, correct?
Electrum seems to be only a bitcoin wallet, so this would be after a trade if I wanted to not trade anymore and store the BTC?
I do use Exodus, so I have some others stored there, but it's not like there are a ton of altcoin options there either.
So that leaves...
Altcoins - Longterm - Store in their own wallet, then?
Altcoins - Short Term - store in exchange with limit order?
BTC - remove the amount from the exchanges that I'm not actively trading with?
Safety - use paper wallet or Ledger/Trezor.
Trying to cover all my bases here. I think I'm understanding some of this.
Frankly, these tokens are now dominating the market.
For holding a coin, it'll worth than keeping those altcoins which have their own wallet with low safety.
Hey guys,
I've read around a bit, googled, but I know many are active traders - so I'll ask here:
Background: I have about 6 coins currently (not much) and 1 ICO (in it's own wallet, of course). Some of these are active trades, some for hold. Currently I have 1 in a Cryptopia Wallet (unsure if this will be hold or active yet) and 5 in Bittrex Wallets. I also have Exodus and mine ETH and DCR to those wallets.
What is the preference?
Thanks. Just trying to figure this all out
It largely depends on how much funds you have. If you have a small to medium amount, a pc-based wallet should probably be fine. If you have large amounts, definitely better to have a hard-wallet. Also, for any funds on exchanges, make sure you have 2fa enabled. I've read around a bit, googled, but I know many are active traders - so I'll ask here:
Background: I have about 6 coins currently (not much) and 1 ICO (in it's own wallet, of course). Some of these are active trades, some for hold. Currently I have 1 in a Cryptopia Wallet (unsure if this will be hold or active yet) and 5 in Bittrex Wallets. I also have Exodus and mine ETH and DCR to those wallets.
What is the preference?
- Have my own PC-based wallet and back it up?
- Use a hard-wallet? (thinking like Trezor)
- Other?
Thanks. Just trying to figure this all out
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