Hello.
I am fairly new, i have purchased some btc on localbitcoin which i used to buy some digital goods, but there is a small remainder there.
I am looking to make some btc now thru selling some services myself, Do i ask my buyers to send the bitcoin to that wallet, or should i move the bitcoin from my localbitcoin wallet to a different one? I notice there are small fees which apply.
What are the benefits / pros / cons of using localbitcoin as my general wallet? If i do move my btc out of localbitcoin, will i get charged a fee?
Can you suggest which wallet to use?
Thanks for the help in advanced!
I am fairly new, i have purchased some btc on localbitcoin which i used to buy some digital goods, but there is a small remainder there.
I am looking to make some btc now thru selling some services myself, Do i ask my buyers to send the bitcoin to that wallet, or should i move the bitcoin from my localbitcoin wallet to a different one? I notice there are small fees which apply.
What are the benefits / pros / cons of using localbitcoin as my general wallet? If i do move my btc out of localbitcoin, will i get charged a fee?
Can you suggest which wallet to use?
Thanks for the help in advanced!
technically, you probably could use localbitcoins as your "wallet". However, you'll be missing a lot of functions, like signing messages, coin controll features,... AND most importantly, it would be an online wallet, meaning you're not the only one controlling your private keys, so you're not the only one controlling your funds.
Since you're rather new, i'd suggest a HD desktop wallet, i personally prefer electrum, but multibit HD might be even more newbie-friendly.
Once you're past your newbie-months, you might consider running bitcoin core, or storing the bulk of your funds on hardware wallets or paper wallets
I am a BTC newbie but generally tech-savy. I like the idea of a offline wallet. Why should i wait a couple of months before trying bitcoin core?
I like the idea of storing the BTC on a small thumbdrive. If i were to make a backup / copy of this thumbdrive, then use some the funds....how does the other backup know the btc is no longer in my possession?
