I'd recommend using coinbase Pro (Pro.coinbase.com) as I'm pretty sure it's still got lower fees and allows you to set limit orders (orders where you can pick a price you want to buy at so you're not suffering slippage).
1. I stopped using coinbase because they were selling verification information, so...
3. If you store your funds on an exchange you're at risk to security methods you can't control. If you're good at security, I'd store them yourself. If you're bad at security (eg fell for a phishing scam, downloaded and ran an execution from a random source or are very easy to manipulate - at least over the past 6 years) I'd recommend storing it with an exchange like coinbase.
Topic: I have a few beginner questions regarding crypto trading - page 5. (Read 777 times)
After falling down the rabbit hole of learning how to mine, and learning how to build a mining rig, learning how that stuff works, I learned what I needed to learn and decided that I cannot afford to start mining right now.
So as an attempt to better comprehend and explore the world of cryptocurrency(which I've only been aware of for a few years), I decided to invest in a few types of crypto.
I have just a few beginner questions regarding crypto trade:
1. I'm currently using coinbase as my main crypto exchange. But I keep hearing from a lot of people who have been trading/mining crypto for years say that they don't use coinbase anymore. Why is that? Also what exchange is the most popular to use right now? Is it still Coinbase?
2. Is it normal to make several purchases on coinbase (using your checking account) as in purchasing portions of several different types of crypto, for those transactions to be pending for a little while before your available balance reflects the amount that you actually purchased? How long does the pending phase usually take on coinbase, if your checking account is in the United States?
3. I've heard mentions in forums and youtube that people who trade prefer to store their crypto in wallets outside of an exchange for security reasons. If I'm understanding that right, that instead of storing their crypto in wallets that you can make on your coinbase account, they store it in a paper wallet or something. Am I understanding that right? And if so, what security risk am I taking by storying the crypto that I've invested in, in wallets that I created in my coinbase account?
So as an attempt to better comprehend and explore the world of cryptocurrency(which I've only been aware of for a few years), I decided to invest in a few types of crypto.
I have just a few beginner questions regarding crypto trade:
1. I'm currently using coinbase as my main crypto exchange. But I keep hearing from a lot of people who have been trading/mining crypto for years say that they don't use coinbase anymore. Why is that? Also what exchange is the most popular to use right now? Is it still Coinbase?
2. Is it normal to make several purchases on coinbase (using your checking account) as in purchasing portions of several different types of crypto, for those transactions to be pending for a little while before your available balance reflects the amount that you actually purchased? How long does the pending phase usually take on coinbase, if your checking account is in the United States?
3. I've heard mentions in forums and youtube that people who trade prefer to store their crypto in wallets outside of an exchange for security reasons. If I'm understanding that right, that instead of storing their crypto in wallets that you can make on your coinbase account, they store it in a paper wallet or something. Am I understanding that right? And if so, what security risk am I taking by storying the crypto that I've invested in, in wallets that I created in my coinbase account?
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