Topic: Get in my shoes for a minute (Read 351 times)
Imagine spending over a hundred dollars on hardware wallet to store shit coins, I am better off with an Electrum wallet, if you can store your private keys in a safe location you won't have any issue or what so ever.
Now that the bear market is here I have only 300$ to spare, looking into buying some altcoins for long term hold, I've successfully acquired some Bitcoin though but I want to get a ledger nano x wallet, what should I do in this case? Nano x is 150$ I guess, does it make sense to buy Nano x now or buy altcoins now and Nano x later.
That $150 you will spend in securing a hardware wallet is the best idea to follow than risking your assets on shitcoins investment that are feebles as the chase of of an air, the risk in alts is far greater than the benefits to take from it, the nano x wallet will serve you a long time purpose with maximum security on your investment assets than shitcoins investment, the only investment that make peace with the investor is on bitcoin, alts were just a showcase of waste of time because they appears as feeble things that cease from existence within a shortest period of time.
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Obvious choices are the two most popular ones: Trezor Model One for ~$85 and Ledger Nano S Plus for ~$80. If I am OP. I would buy one of these two and use the difference to buy more bitcoin.Yes, quite alright Bitcoin stands as the surest crypto that won't die or vanish into thin air but you've to also realize that there are people who don't like hodling it for anything. They don't have Bitcoin in their portfolio. I've a friend like that. He feels Bitcoin is slow on ROI unlike alts. To a great extend, I think he's right. Perhaps, OP is one of such people too.
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There is also KeepKey which isn't a bad hardware wallet either and it costs only $49.
If you have a limited budget, slike in OP's case, I don't think spending money on a hw wallet is a good idea. Just use a reliable software wallet which you can get for free.
For some reason user Bhig Daddy bumped this three months old thread, so not sure if OP is still interested in new suggestions, anyway.
There is also KeepKey which isn't a bad hardware wallet either and it costs only $49.
If you have a limited budget, slike in OP's case, I don't think spending money on a hw wallet is a good idea. Just use a reliable software wallet which you can get for free.
For some reason user Bhig Daddy bumped this three months old thread, so not sure if OP is still interested in new suggestions, anyway.
That suggestion would've been more beneficial to both OP and the rest of us if you mentioned any of the cheaper and reliable alternatives. It's so to enable interested parties know what names to look out for.
Obvious choices are the two most popular ones: Trezor Model One for ~$85 and Ledger Nano S Plus for ~$80. If I am OP. I would buy one of these two and use the difference to buy more bitcoin.@OP no need to spend ~$150 on a hardware wallet, there are cheaper and reliable alternatives.
That suggestion would've been more beneficial to both OP and the rest of us if you mentioned any of the cheaper and reliable alternatives. It's so to enable interested parties know what names to look out for.As for OP, if all you've now is mere $300 I don't think it will be a nice idea to split it to buy a wallet. I suggest you ploy all into buying alts at the moment.
If you only have $300 on hand, it's not a good idea to purchase a hardware wallet at this time. The phrase "be greedy when others are afraid" refers to the current state of the market. Instead of purchasing a hardware wallet, you should use that money to profit from the current situation or, more likely, wait until you have $1,000 that is entirely yours.
Spare the Nano first and buy bitcoin.
Take this moment to have that advantage of buying bitcoin. It's now $26k and we don't know if it's already the dip or if there will be a lower price but as looking at it, very good time to buy.
You can use electrum, wasabi or samourai, or bitcoin core as of the moment and then just follow it up by buying your nano soon. That's what I think is a good thing to do for now.
Take this moment to have that advantage of buying bitcoin. It's now $26k and we don't know if it's already the dip or if there will be a lower price but as looking at it, very good time to buy.
You can use electrum, wasabi or samourai, or bitcoin core as of the moment and then just follow it up by buying your nano soon. That's what I think is a good thing to do for now.
Now that the bear market is here I have only 300$ to spare, looking into buying some altcoins for long term hold, I've successfully acquired some Bitcoin though but I want to get a ledger nano x wallet, what should I do in this case? Nano x is 150$ I guess, does it make sense to buy Nano x now or buy altcoins now and Nano x later.
Going for the ledger nano x wallet will be the best decision. If you cannot secure your previous investment because you don't make use of a secure wallet there's nothing guarantee that you won't lose the new altcoin you buy with the money since your plan is to save the coin for the long term.
Now that the bear market is here I have only 300$ to spare, looking into buying some altcoins for long term hold, I've successfully acquired some Bitcoin though but I want to get a ledger nano x wallet, what should I do in this case? Nano x is 150$ I guess, does it make sense to buy Nano x now or buy altcoins now and Nano x later.
If you have a plan to buy more Bitcoin and will hold long-term, then it was a good idea indeed. But if you don't, you will just use an electrum wallet or other legit online wallets, not an exchange wallet. Procuring a hardware wallet is somewhat like an investment as well, it is expensive, yet it was secured but that was not ideal if we just put a small amount on it. Rather than thinking of buying nano X, better to give priority to buying more coins while prices are cheap.
Just use Electrum wallet. There are guides in this forum and on the internet about what you want with your wallet either you make it into cold wallet or not. If you want to own a hardware wallet no matter how much btc you have either a hefty sum or not then you should buy it and invest when you have $300. If not then you can buy the hardware wallet later on but you can only use cheaper ones or free alternative wallets like electrum for now and sell some of your bitcoin once you earn a profit from your investment.
I wouldn’t buy a hardware wallet unless the amount of your bitcoin investment is hefty, say a few thousand dollars and up.
I don't think that someone has to have thousands of dollars worth of crypto to buy hardware wallet, if he plans to stay in crypto for the longer period of time. Back in 2017 I was hacked and I lost 90%+ of my portfolio, leaving me with only few hundreds of dollars worth of crypto. Since I knew that I plan to keep buying bitcoin on the regular basis and that I am into it for the long run I bought hardware wallet anyway, just to be safe.@OP no need to spend ~$150 on a hardware wallet, there are cheaper and reliable alternatives.
I wouldn’t buy a hardware wallet unless the amount of your bitcoin investment is hefty, say a few thousand dollars and up. Though I would never advise for any investor to not have an offline wallet.
Regarding your investment in altcoins, make your own decision. Personally, I am a true believer in bitcoin, altcoins are just distractions from my main target. I think some altcoins are just useful, but in no way being a substitute to the largest crypto currency in the world.
Regarding your investment in altcoins, make your own decision. Personally, I am a true believer in bitcoin, altcoins are just distractions from my main target. I think some altcoins are just useful, but in no way being a substitute to the largest crypto currency in the world.
If I were in your shoes, I don’t want to buy a hardware wallet for now. Better opt for a cold storage that is either free or very cheap that would secure your Bitcoin and other cryptocurrency assets. And of course, just beware of any malware, scammy emails and messages, etc., that would possibly drain your wallets. Never ever give out your private keys or seed phrases to anyone.
But I don’t know about you tough. Since $300 is something you can afford to spare, but if you earn enough money every month, I suggest you do DCA (dollar-cost averaging) on BTC monthly to build wealth overtime. You wanna Google about dollar-cost strategy and understand what I mean.
But I don’t know about you tough. Since $300 is something you can afford to spare, but if you earn enough money every month, I suggest you do DCA (dollar-cost averaging) on BTC monthly to build wealth overtime. You wanna Google about dollar-cost strategy and understand what I mean.
Now that the bear market is here I have only 300$ to spare, looking into buying some altcoins for long term hold, I've successfully acquired some Bitcoin though but I want to get a ledger nano x wallet, what should I do in this case? Nano x is 150$ I guess, does it make sense to buy Nano x now or buy altcoins now and Nano x later.
I would not waste any money purchasing this garbage device, but you should not trust me and do your own research in ledger reddit or you can find some information in this forum.There are a bunch of issues with battery, firmware with other stuff on model X and everything is closed source coming from China, bu buying shitcoins is even worse than buying ledger X.
Good hardware wallets for storing multiple currencies should be open source like Keystone, Bitbox or Trezor.
Now that the bear market is here I have only 300$ to spare, looking into buying some altcoins for long term hold, I've successfully acquired some Bitcoin though but I want to get a ledger nano x wallet, what should I do in this case? Nano x is 150$ I guess, does it make sense to buy Nano x now or buy altcoins now and Nano x later.
Youll left with another 150. But if you are a good trader that 300 could be grow in trading and youll have excess for purchasing the nano x ledger. Of course that depends on your risk apetite. Ut to be safe just buy the nano now and use the remaining 150 instead atleast you already have the hardwallet. 
I'd be curious to know why you chose Ledger Nano X as the storage device for your crypto? What was your choice based on?
I would also like to know the reason, although if I had to guess I would say that maybe the main reason is the look of the device. I have had it personally since 2019 and I can say that the design is very good and that it really looks like a premium device compared to the S model.
I wouldn't buy it today because I think it's too expensive (I paid about $90), it still has battery issues, and Ledger is no longer a company I trust. However, everyone should make a decision for themselves when buying such things, although it is logical to put security and trust before the physical appearance of such a device, which we will certainly not wear as a fashion accessory.
Since the goal is clearly defined which is a long term investment goal and you have stocked up some Bitcoin already waiting for the next bullrun then it's best you split the remainder on an even proportion ratio to fit into both the altcoin and Nano x. Its just best not to lose at on any opportunity so having both can be ideal investment
Now that the bear market is here I have only 300$ to spare, looking into buying some altcoins for long term hold, I've successfully acquired some Bitcoin though but I want to get a ledger nano x wallet, what should I do in this case? Nano x is 150$ I guess, does it make sense to buy Nano x now or buy altcoins now and Nano x later.
Traditionally voiced similar words "invest only the money that you are willing to lose." This applies to altcoins to a greater extent than to bitcoin. Therefore, I would rather buy another bitcoin if I were you, but I don't impose my opinion and it is up to you to decide how best to proceed.I'd be curious to know why you chose Ledger Nano X as the storage device for your crypto? What was your choice based on? There are many devices on the hardware wallets market - [BIG LIST] Hardware wallets (80+) and to be honest, Ledger devices on this forum don't have the best reputation despite the fame and advertising of the brand.
And that's why:
Ledger Live Liars Data Collection
Ledger Nano X Battery Pandemic
Why I wouldn't buy Ledger Nano S ever again?
Ledger Nano S Plus
Ledger Nano S Plus + Shifted Screen
Whether you buy altcoins first and then a Nano next, it will depend on you. But if I'm you, I'll buy the Nano first so whenever you want to buy altcoins that will be added to your portfolio, you'll just redirect and add it to your hardware wallet.
Anyway, it's still you to decide and there are other ways to keep those altcoins while waiting for your nano to arrive. And when you're done with both, go back to your first step of buying more bitcoins.
Anyway, it's still you to decide and there are other ways to keep those altcoins while waiting for your nano to arrive. And when you're done with both, go back to your first step of buying more bitcoins.
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