Topic: Does transferring coins from coinbase to hardware wallet "remove" them from CB? (Read 7089 times)
August 06, 2017, 07:57:59 AM
The balance you see in your coinbase account is the balance you have with that company. The balance represents coins THEY hold for you, on private keys THEY own. It's basically an IOY for bitcoins instead of the bitcoins themselves. If you withdraw them from coinbase, to your own wallet, then you get the actual bitcoins, until that point you don't own any bitcoins.
June 06, 2017, 01:18:45 PM
Here to do some good and then he thanks someone else 
If you could understand what I meant then it wouldn't be as dumb, I told him to send to an address which he holds the key for it, so then I said no need for hardware wallet, it was about after transferring the coins out of coinbase, and any address as a watch only still shows the balance in a web wallet like blockchain.info. and since I've never used coinbase I suggested the other web wallet which even gives access to the private keys.
There is no need for hardware wallet because bitcoin will be stored on a private key no matter what
Well that's one of the dumbest things I've ever read. When you put your Bitcoin in Coinbase you're not holding the funds, they're holding them for you. And the point of a hardware wallet is to keep your private keys safe - they stop your coins being taken by viruses or hacked accounts. June 06, 2017, 11:20:06 AM
There is no need for hardware wallet because bitcoin will be stored on a private key no matter what
Well that's one of the dumbest things I've ever read. When you put your Bitcoin in Coinbase you're not holding the funds, they're holding them for you. And the point of a hardware wallet is to keep your private keys safe - they stop your coins being taken by viruses or hacked accounts.OP, when you're seeing your Coinbase dashboard you're seeing the coins that you're holding in the Coinbase web wallet (or let's say, the coins that they're holding for you).
When you transfer them out of your Coinbase wallet, they're to an external address. Coinbase doesn't know that it was sent to another wallet that you own, it just knows that you sent it to another address, so yes the number would be gone from your Coinbase account.
I don't see how that would be a problem though, you can just see the balance in your hardware wallet and check the price if that's what you're hoping to do.
Thanks so much for the quick answer!
June 06, 2017, 10:27:14 AM
There is no need for hardware wallet because bitcoin will be stored on a private key no matter what
Well that's one of the dumbest things I've ever read. When you put your Bitcoin in Coinbase you're not holding the funds, they're holding them for you. And the point of a hardware wallet is to keep your private keys safe - they stop your coins being taken by viruses or hacked accounts.OP, when you're seeing your Coinbase dashboard you're seeing the coins that you're holding in the Coinbase web wallet (or let's say, the coins that they're holding for you).
When you transfer them out of your Coinbase wallet, they're to an external address. Coinbase doesn't know that it was sent to another wallet that you own, it just knows that you sent it to another address, so yes the number would be gone from your Coinbase account.
I don't see how that would be a problem though, you can just see the balance in your hardware wallet and check the price if that's what you're hoping to do.
June 06, 2017, 10:06:50 AM
Of course it will sync magically they even will send a girl for a lap dance for your convenience There is no need for hardware wallet because bitcoin will be stored on a private key no matter what, just generate an address in bitaddress.org and save it with the private keys and send your coins there but not ETH because that requires it's own wallet/address format.
Myetherwallet.com provides the ability to see the market value while you are in side the wallet/address and that's a very convenient web wallet for ETH. or you know you could import your addy into coinbase or blockchain.info as a watch only address to see the current value whenever you are logged in to your coinbase or blockchain wallet.
There is no need for hardware wallet because bitcoin will be stored on a private key no matter what, just generate an address in bitaddress.org and save it with the private keys and send your coins there but not ETH because that requires it's own wallet/address format.Myetherwallet.com provides the ability to see the market value while you are in side the wallet/address and that's a very convenient web wallet for ETH. or you know you could import your addy into coinbase or blockchain.info as a watch only address to see the current value whenever you are logged in to your coinbase or blockchain wallet.
June 06, 2017, 09:58:20 AM
Super newbie question, sorry.. And I'm researching and learning every day..
So I've bought a little BTC and ETH on Coinbase and have them in my Coinbase wallet and so in my dashboard "portfolio" I can see my total current balance which is nice.
And I've also read that one should buy a hardware wallet like 'Ledger nano S' for secure coin storage.
However if I "transfer/move(?)" the coins to the hardware wallet will they "disappear" from my coinbase? -- so the overview of my total balance *on Coinbase* is gone?
Cuz it's convenient to see my current, total balance in any given moment..
Does the technology somehow "sync" coinbase to the wallet so the total balance is still seen in the coinbase dashboard, even though I have moved some of the coins to the hardware wallet..
It's easy to read from this that I'm still learning about bitcoins and cryptocurrency in general haha, but I was hoping someone could help me understand this. ^^
Thanks!
So I've bought a little BTC and ETH on Coinbase and have them in my Coinbase wallet and so in my dashboard "portfolio" I can see my total current balance which is nice.
And I've also read that one should buy a hardware wallet like 'Ledger nano S' for secure coin storage.
However if I "transfer/move(?)" the coins to the hardware wallet will they "disappear" from my coinbase? -- so the overview of my total balance *on Coinbase* is gone?
Cuz it's convenient to see my current, total balance in any given moment..
Does the technology somehow "sync" coinbase to the wallet so the total balance is still seen in the coinbase dashboard, even though I have moved some of the coins to the hardware wallet..
It's easy to read from this that I'm still learning about bitcoins and cryptocurrency in general haha, but I was hoping someone could help me understand this. ^^
Thanks!
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