Topic: I went big into Bitcoin and Ethereum... (Read 760 times)
Get it off the exchange and anonymize it ASAP
that's right, I've never heard of any theft at coinbase. I think it's completely safe. Storing them in a cold wallet is the best option. Don't forget to keep the key on paper or otherwise so that it is not easily lost and stolen.
Coinbase is one of the biggest exchange in crypto and is very secured, it's hasn't had any hack incidents ever since it came in existence. Like people say prevention is better than cure, holding a coin in an exchange for a long period of time could be risky because no one knows hackers are getting stronger and building thier knowledge which stands as a threat to most exchanges. 2FA only secures your funds from someone else getting rid of it without ur information , if eventually an exchange is hacked 2FA is useless it can't stop hackers from moving funds, so it's better to save you coins in a cold or hard wallet where your seed and private keys protect your asset.
Hello Gang,
New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.
I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.
Thanks for any info!
New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.
I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.
Thanks for any info!
I would say that security is a relative concept. Of course, Coinbase probably has good protection, but as far as I've heard, it's best to have your own cold wallet and the fact that you ordered yourself Trezor speaks about it. It's best to keep your crypto in the safest place, and remember that there are other ways to lose your crypto. For example, the loss of data to enter the wallet, or the loss of a Trezor device. There is also a chance of getting a virus, but this can only depend on your actions. The most important thing is that you yourself understand the importance of storing your crypto and do everything for its safety.
Quote
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.
Coinbase wallet is very secure, when you follow the rules that guide the wallet day and night. It is well secure when you keep your personal details concerning the wallet to your self. It is good for short term investment, if you want to achieve something reliable from your transaction. I've read that their site is actually very secure.
I agree with some seniors that this is not the right place to Express your wallet as a beginner. At initial, you can gather more information and knowledge and practice then you want to know something you need but indirectly means not your way. I hope for your bright future in crypto but be cognizant and be suspicious.
Update Everyone,
I received my Trezor in the mail today.
I took my time and got it all set up correctly.
Not going to lie.. I was nervous about that even, hahaha
Then I sent over from my Coinbase account some small amounts of ETH and BTC
just to make sure everything was working right and I was doing it right.
I was even more nervous about that!
Soon after, I got the confirmations that these couple small transactions went smoothly and were in my Trezor wallet.
I then transferred everything from Coinbase to the Trezor wallet.
I am looking at my wallet and everything is there!
This is a big sigh of relief.
Thank you all for replying to my topic and the words of encouragement.
Now I just sit and hold what I have and keep investing into more crypto!
I received my Trezor in the mail today.
I took my time and got it all set up correctly.
Not going to lie.. I was nervous about that even, hahaha
Then I sent over from my Coinbase account some small amounts of ETH and BTC
just to make sure everything was working right and I was doing it right.
I was even more nervous about that!
Soon after, I got the confirmations that these couple small transactions went smoothly and were in my Trezor wallet.
I then transferred everything from Coinbase to the Trezor wallet.
I am looking at my wallet and everything is there!
This is a big sigh of relief.
Thank you all for replying to my topic and the words of encouragement.
Now I just sit and hold what I have and keep investing into more crypto!
Congratulations mate. Now you have peace of mind and feeling secured. Big asset should be stored in the safe storage which what you did. Priority first, save the instant loss while you can anticipate.
Always my dream, that one day I will have even one Ethereum and even just 0.03Bitcoin. I will continue to pursue my dream to have it in the future.
Hello Gang,
New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.
I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.
Thanks for any info!
You should not posted this here and instead wait for your trezor wallet to arrive and Safely transfer your funds for Keeping long.New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.
I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.
Thanks for any info!
Because as you have posted here , now you are one of the target of scammers and hackers here in crypto.
But week had passed , meaning your Hardware wallet is already there? update us please for what is you rtatus now.
Hello Gang,
New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.
I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.
Thanks for any info!
There is nothing safe in wallets, except hardware wallets, they are the most reliable, everything else can be hacked, even two-step authentication, although it will be difficult, but it is possible, read on sites on the Internet there are already cases where you have lost your money. New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.
I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.
Thanks for any info!
~
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.
Thanks for any info!
The right choice, when you decide to invest a lot of money, you are choosing a hardware wallet that is secure enough to withstand various attacks on the internet.How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.
Thanks for any info!
Well, as many other members have explained, storing a lot of assets in the long term in a wallet exchange is very risky. Even though Coinbase has performed well so far, we also have to be careful. Look at some of these hack cases, even large and well-known safe exchanges have been hacked.
https://t.me/ico_analytic/1385
I thought his question is whether it was a good decision to buy BTC and ETH right this moment while the price had already gone up. Well it's still good. The stock market is about to fall down and then people from Wallstreet seem to be looking for alternatives and cryptocurrency trading is where they are going.
But then your question is whether coinbase is a safe place to store your coins. Its not. Most if not all, will always keep in mind that anything that can happen in crypto and exchange could one day be hacked.
But then your question is whether coinbase is a safe place to store your coins. Its not. Most if not all, will always keep in mind that anything that can happen in crypto and exchange could one day be hacked.
Actually, hacking incident to the exchange is really rarely happen. And event, if something bad happen in case to coinbase your fund is not necessarily lost in your wallet. Like me, I use binance exchange and this exchange was hacked a few years ago and some user funds were lost but my funds are still intact in my wallet.
It means, you don't need to worry if your fund are on an exchange. As long as you keep some securities that can access to your wallet you will be fine. Because, the exchange hacked is not about hacker hacking to the exchange system but there are some possibilities that hacker watch your movements and look for the carelessness you made.
It means, you don't need to worry if your fund are on an exchange. As long as you keep some securities that can access to your wallet you will be fine. Because, the exchange hacked is not about hacker hacking to the exchange system but there are some possibilities that hacker watch your movements and look for the carelessness you made.
Hello Gang,
New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.
I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.
Thanks for any info
No exchange is hack-proof and thus secure. New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.
I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.
Thanks for any info
Coinbase is a respectable exchange with good security for their wallets but that's not to say that these wallets have not been hacked before. You're not safe unless you're the only one that holds the private key, so a cold storage wallet is highly recommended specially if you're going to hold your BTC and ETH.
Thanks again everyone!
I did buy my Trezor from the manufacturer.
I transferred everything over the day I got it.
I'm keeping some money in Coinbase ( I'm on auto purchase of BTC and ETH ) but nothing more than $1000
I am a long time holder.. no day trading.
I've got my Trezor and seed safe and sound.
One thing I noticed though.. I have to plug the Trezor into my computer and go to the Trezor site to see my investments.
I only do this and don't go to any other sites.
Do you feel that this is safe to do?
Thanks again for all the advice and suggestions!
I did buy my Trezor from the manufacturer.
I transferred everything over the day I got it.
I'm keeping some money in Coinbase ( I'm on auto purchase of BTC and ETH ) but nothing more than $1000
I am a long time holder.. no day trading.
I've got my Trezor and seed safe and sound.
One thing I noticed though.. I have to plug the Trezor into my computer and go to the Trezor site to see my investments.
I only do this and don't go to any other sites.
Do you feel that this is safe to do?
Thanks again for all the advice and suggestions!
for starters you shouldn't announce how much bitcoin you own publicly.
Part of me agrees with you, but I'm pretty sure OP is safe as long as he doesn't give out his address or do something stupid like that. There are members here who must have tons of bitcoin, and I've never heard any stories of any of them being targeted in real life. It's something that sounds like it could happen but hasn't....yet.Anyway, moving your purchases off of Coinbase and onto your Trezor is a smart move, OP. Just make sure you keep the seed phrase safe, and there are many different ways you can do that--keep reading threads here and you'll pick up a lot of good stuff. It's definitely better than keeping coins on an exchange, even one as reputable as Coinbase.
Remember;
"Not your keys Not your coins"
This is a mantra here, and for good reason. Lots of exchanges have either been hacked out of existence or have run away with their customers' coins. You'll never have to worry about that if you're the only one who has access to your private keys. And best of luck with your investment. "Not your keys Not your coins"
Coinbase provides good service for people to hold their coin and holders can even sell their coin for other cryptocurrency/fiat. However, some people say that coinase has the worst customer services because they tend to ignore customers' issues if they live outside of the USA
It gonna be natural, can't stop issues and complaints like that. Well, not all traders are in comfort using Coinbase, so they talk negative about them.Quote
But I suggest you should transfer all of your money to your newly-ordered Trezos. Hardware wallet gives you full control of your money and therefore, you are not centralized by any third party. Coinbase, on the other hands, control your money and somehow, your information can be sold or leaked. And if coinbase get hacked, your money might be infiltrated. Thus, Trezos give you the ability to shut down the internet and disconnect your bitcoin from the server so that no one can steal your coin with phising attack or computer hacking.
We are prone to any hacking attacks and for that huge amount, fund security is a must. Since OP had it already, maybe he could worry no more. Now, the challenge for him is to test how firm he is about holding and how to control his emotions. If that he can still hold no matter what will happen to the prices in the next days or got be in a panic when seeing huge price corrections.
Coinbase provides good service for people to hold their coin and holders can even sell their coin for other cryptocurrency/fiat. However, some people say that coinase has the worst customer services because they tend to ignore customers' issues if they live outside of the USA
But I suggest you should transfer all of your money to your newly-ordered Trezos. Hardware wallet gives you full control of your money and therefore, you are not centralized by any third party. Coinbase, on the other hands, control your money and somehow, your information can be sold or leaked. And if coinbase get hacked, your money might be infiltrated. Thus, Trezos give you the ability to shut down the internet and disconnect your bitcoin from the server so that no one can steal your coin with phising attack or computer hacking.
But I suggest you should transfer all of your money to your newly-ordered Trezos. Hardware wallet gives you full control of your money and therefore, you are not centralized by any third party. Coinbase, on the other hands, control your money and somehow, your information can be sold or leaked. And if coinbase get hacked, your money might be infiltrated. Thus, Trezos give you the ability to shut down the internet and disconnect your bitcoin from the server so that no one can steal your coin with phising attack or computer hacking.
Hello Gang,
New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.
I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.
Thanks for any info!
If you do go for long term then Trezor would be the best option you could take.New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.
I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.
Thanks for any info!
Remember;
"Not your keys Not your coins"
Never ever consider on storing up your coins on a centralized platform or simply those custodial wallets because no matter how
reputable or known they are, you wouldnt know on when they would be hacked or experienced problems which would
cause some locked up funds.
Coinbase has been here for a long time now but make sure you don't hold large amount in it for a long time.
Exchanges are a bad place to hold large amount of cryptocurrencies. It's good that you order a hardware wallet but makesure you keep it safe.
Transfer all your coins to the hardware wallet as soon as you get it and take the necessary precautions in it securing it.
Also, do not tell anybody about it as you get more prone to getting hacked or robbed when you tell people about your holdings.
Exchanges are a bad place to hold large amount of cryptocurrencies. It's good that you order a hardware wallet but makesure you keep it safe.
Transfer all your coins to the hardware wallet as soon as you get it and take the necessary precautions in it securing it.
Also, do not tell anybody about it as you get more prone to getting hacked or robbed when you tell people about your holdings.
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Update Everyone,
I received my Trezor in the mail today.
I took my time and got it all set up correctly.
Not going to lie.. I was nervous about that even, hahaha
Then I sent over from my Coinbase account some small amounts of ETH and BTC
just to make sure everything was working right and I was doing it right.
I was even more nervous about that!
Soon after, I got the confirmations that these couple small transactions went smoothly and were in my Trezor wallet.
I then transferred everything from Coinbase to the Trezor wallet.
I am looking at my wallet and everything is there!
This is a big sigh of relief.
Thank you all for replying to my topic and the words of encouragement.
Now I just sit and hold what I have and keep investing into more crypto!
It good to that you went big into Bitcoin and Ethereum investment though all altcoin are consider to be shitcoin but the problem is not you invested so big on this coins, the problem is I received my Trezor in the mail today.
I took my time and got it all set up correctly.
Not going to lie.. I was nervous about that even, hahaha
Then I sent over from my Coinbase account some small amounts of ETH and BTC
just to make sure everything was working right and I was doing it right.
I was even more nervous about that!
Soon after, I got the confirmations that these couple small transactions went smoothly and were in my Trezor wallet.
I then transferred everything from Coinbase to the Trezor wallet.
I am looking at my wallet and everything is there!
This is a big sigh of relief.
Thank you all for replying to my topic and the words of encouragement.
Now I just sit and hold what I have and keep investing into more crypto!
1) Did you bought your trezor wallet from the genuine store or retailer store?
2) Have you developed knowledge in using the hardware wallet or other desktop wallet safely?
3) Have developed the knowledge to invest in crypto profitably?
Cause if you don't have all this knowledge you can easily lose your investment just like that.
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