I went big into Bitcoin and Ethereum... - page 2.

Silberman

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Quote from: Dr.Ona on April 03, 2021, 03:24:52 PM

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!

Nice to know, it is understandable that you were nervous but you have done the right thing, exchanges get hacked all the time, or they could disappear overnight, I know this may seem difficult to believe but it has happened in the past, your hardware wallet is going to keep working even if the developers of the Trezor hardware wallet stopped supporting it so you do not have anything to worry about, just make sure that you know how to use your hardware wallet as you can still lose your money if you are not careful.

Kittygalore

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Quote from: ?? on ??

Tho we can say that Coinbase is secured, but just like any other online wallet, it can still be hacked. I don't feel secured keeping my money online especially if it is huge. A good decision that you have bought a hardware wallet. Once you have it, make sure you keep a hard copy of the seed phrase for back up.

You're right, it may be secure but attacks can happen, good thing that OP has already bought a hardware wallet because online wallet as a long-term storage is not a viable option, there is a reason why veteran users of this forum are advocating the phrase "Not your keys, not your bitcoin", not to mention that with you yourself being responsible for your own bitcoins makes you the only one responsible if ever it was stolen.

MCobian

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Quote from: Dr.Ona on April 03, 2021, 03:24:52 PM

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 is natural for you to be nervous because for the first time using Trezor, I was also nervous when I first used a hardware wallet. There is nothing
wrong with that, because it is perfectly normal for anyone. It's a good idea to try to send a small amount of BTC and ETH first, just to make sure
things go well. Also, when I first used a hardware wallet, I didn't send all my coins on exchanges at once. I did it gradually, it turns out that we have
the same thoughts. Because everything you do I've done. But I am sure that as long as you do it right, there should be no problem with
the transfer process from Coinbase to the Trezor wallet.

BaeSuzy

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I think it's depend, if you want to keep your asset for the short term i think coinbase is good for you. But if you want to invested for a very very long term maybe your own wallet is safer than exchange.

777Jolami

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Quote from: Dr.Ona on March 29, 2021, 07:49:04 AM

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!

Well, during the 2 years of crypto exposure of me, coinbase had a huge reputation and was favored for using a soft wallet that stores bitcoin, Ethereum. Also, for 2-3 years period I haven't heard any news about coinbase being hacked. Even today's favorite exchange, Binance, was hacked by hackers in May 2019. And to protect your accounts and assets securely and carefully, use a hardware wallet. That is my advice. because no one knows whether coinbase will continue to ensure future safety or not.

best123

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https://blockmembers.io/

The site (exchange) is secure but if you want to hold it for a long time, I prefer you withdraw it out of exchange. I only keep assets that I don't want to keep for a long period.
When your order arrive, withdraw it to there. Thank is my take on this.

Dr.Ona

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Activity: 58

Merit: 13

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!

Renampun

sr. member

Activity: 2338

Merit: 365

Quote from: Dr.Ona on March 30, 2021, 09:53:11 PM

Thank you all again for great info!
Just waiting for the Trezor to show up to do the transfer.

From the information I got, Trezor is pretty safe...

Quote from: AniviaBtc on April 02, 2021, 01:41:11 AM

Quote from: Botnake on March 29, 2021, 08:19:02 AM

so if you don't want any problem, put it in hard wallet, secure it different location..

Just like a cliche saying, "Don't put all your eggs in one basket", that says it all.

agree with you, storing everything in one wallet is very dangerous, we don't know what will happen to the surrounding, maybe bad luck befalls us. splitting these assets across multiple wallets will be much more convenient.

AniviaBtc

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Quote from: Botnake on March 29, 2021, 08:19:02 AM

In general, holding for long term in an exchange is not safe, you should put it in hard wallet.

We all know that most of the exchanges do have a history of getting hacked, and even if they troubleshoot or fixed it, their reputation about security will not be the same. I know that some of us are only relying on what is already there. It is not that hard to buy a hardware wallet if you really want to achieve the maximum security of your bitcoins that you want.

Quote from: Botnake on March 29, 2021, 08:19:02 AM

so if you don't want any problem, put it in hard wallet, secure it different location..

Just like a cliche saying, "Don't put all your eggs in one basket", that says it all.

Silberman

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Quote from: mezzaluna on March 30, 2021, 04:41:14 AM

Quote from: Dr.Ona on March 29, 2021, 07:49:04 AM

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!

Having a Trezor is very secure and knowing that you already got a big chunk of Cryptocurrencies, you should always keep your passwords and any other way of getting your Crypto secured in a place in which you can only access. The reviews speak for Trezor because it has not failed anyone unless that someone has forgotten every security detail Trezor provided. Although having Cryptocurrencies online is also another way to make them grow since we can always find ways to invest it.

Just remember that having a Trezor is not an automatic perfect defense against scammers, you still need to know how to use it to avoid losing your coins, one scam that we see a lot with hardware wallets is that if you get one that has been used before you will get a Trezor with the 24 seed words already filled, then people use that same wallet only for their coins to be stolen as the scammer still has access to those seed words and steals your money in that way.

StartupAnalyst

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Quote from: Dr.Ona on March 29, 2021, 07:49:04 AM

I just ordered a Trezor 1 cold wallet.

Whatever you heard about safety of exchange market wallets it’s better not to use them for long holding of your cryptocoins. There have been precedents when hackers hacked in Coinbase user account and stole all assets. Here you can read more how even scammer hacked in Coinbase user account: https://www.reddit.com/r/CoinBase/comments/gdcgd9/coinbase_account_hacked/ . You’ve made a good choice with Trezor 1 hardware wallet. That is one of the most trusted cold storage. So it’s better to move your coins there as soon as you’ll get your Trezor wallet.

sapnu

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Quote from: Dr.Ona on March 29, 2021, 07:49:04 AM

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!

Going in bitcoin and ethereum right now is not really ideal considering how the prices of both at the moment. I would suggest that you buy bitcoin and eth during its pump wherein it is a smart move to buy during those times. You'll see as time passes by that the amount of btc and eth you bought goes up as they experience bull run or sudden pump. The wallet you've mention was said to be well secured but still do not be too confident cause hackers are getting more and more better these days. I hope the amount you bought would still grow regardless of the timing since btc and eth are both great coins that are leading the game.

int03h

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The amount of $ 50k is quite large. Buying Bitcoin and ETH is risky now as they have risen close to the nearest ATH.
Buy low and sell high to increase the amount of your Bitcoin and ETH.
I recommend monitoring Bitcoin and ETH's value change signals regularly so that you can change your strategy to suit the market.

bitterguy28

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I Use coinbase for Years now and i even let sit my bitcoins there for long time as i am waiting for good coins to buy but so far with my 2fa I felt safer with them.
Though That amount of yours is really High and maybe some Hackers likes targeting you.
better that next time Buy Trezor or Ledger nano S before purchasing Bitcoin or crypto to Hold.

kotajikikox

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Quote from: Dr.Ona on March 29, 2021, 07:49:04 AM

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!

Secure in sense of Their exchange security but hackers is always on the track of potential victims and 2fa at some point did not Assured our safeties because there are several cases that even that they had 2fa yet becomes a victim I don't know how the hackers get into them but that happens .

But since you already purchased the coins and has no other option to store your coins ,then lets Hope and pray that no issue will come your way until the trezor comes.

Quote from: Ewox on March 30, 2021, 11:39:27 AM

I think it would be best for you to hold your coins in a hard wallet though instead of letting it sit on Coinbase, although I do feel secure using it. It’s just that it’s a lot of money if someone might get a hold of it, it’s better that you yourself can only access it using a hard wallet. Oh and just make sure pud 2FA on the site/app too while it’s sitting there.

he has only some days to wait before the ordered trezor comes so i think that's enough time to keep safe His coins.

Lorence.xD

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Quote from: yohananaomi on March 31, 2021, 04:16:38 AM

Quote from: Lorence.xD on March 31, 2021, 03:49:13 AM

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All the mistakes that occur with theft are mostly self-made mistakes, and I agree with you friends. computers that we use even though we have protected them with original anti-virus, the possibility of being careless can happen because of our behavior which is quite often doing violations. the possibility of hackers entering into our computers due to a seemingly simple error is clicking on any link that we are not familiar with.

as long as we behave fairly and always maintain good care and are not reckless we can be sure we will be safe from naughty hackers. if the wallet is certain to be very good and very reliable for protection, but once again carelessness can also cause us to have it in the wallet to change hands.

Well, most attacks aren't targeting individuals so I think that more or less, everyone is safe but if it is a specific target, they still have to bypass the individual either via opening a suspicious link or social engineering them. But that still doesn't ignore the fact that we have to take measures like putting our bitcoin in a cold wallet.

yohananaomi

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Quote from: Lorence.xD on March 31, 2021, 03:49:13 AM

What can OP do though, I mean the cold wallet isn't delivered to OP yet so I think OP just has to hope that there isn't anything funny that is going to happen to Coinbase. The computer security is debatable, if you are a type of person who clicks any suspicious links then you are likely to get your credentials stolen but if not then there isn't anything to worry about.

All the mistakes that occur with theft are mostly self-made mistakes, and I agree with you friends. computers that we use even though we have protected them with original anti-virus, the possibility of being careless can happen because of our behavior which is quite often doing violations. the possibility of hackers entering into our computers due to a seemingly simple error is clicking on any link that we are not familiar with.

as long as we behave fairly and always maintain good care and are not reckless we can be sure we will be safe from naughty hackers. if the wallet is certain to be very good and very reliable for protection, but once again carelessness can also cause us to have it in the wallet to change hands.

Lorence.xD

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Quote from: seoincorporation on March 30, 2021, 10:59:30 PM

Hold your coins on an exchange is a terrible idea because there are multiple ways to lose your coins. Maybe the site is secure, but your computer is not and if someone gets access to your credentials then you can lose your money. If you don't have your private keys then they are not your coins. Simple as that.

A ledger is a good option, but it had some vulnerabilities in the past, so, there is no a 100% secure way to hold your coins. but some ways are more secure than others.

What can OP do though, I mean the cold wallet isn't delivered to OP yet so I think OP just has to hope that there isn't anything funny that is going to happen to Coinbase. The computer security is debatable, if you are a type of person who clicks any suspicious links then you are likely to get your credentials stolen but if not then there isn't anything to worry about.

isaac_clarke22

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Quote from: Dr.Ona on March 29, 2021, 07:49:04 AM

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Hello, OP.
That's quite a huge buy, huh.
I am not even halfway from that amount from my earnings.

In regards to your question since you bought Trezor, you might need to consider moving your funds to it now.
Regardless of how reputated, secured, or even rated an exchange is, don't hold your coins there.

It takes just someone spending all day finding vulnerability to a site before he/she/they get/s access to your account and once that happens, the obvious would happen.

Strufmbae

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Bitcoin really is into bullrun rightnow but $50k is a good investment. Just keep your account up to date nothing to worry.
The only disadvantage that I am sure of is it's not 100 % secured if you are into trading your crypto on coinbase is good to go. But if you want to HODL better transfer crypto to a Ledger. And Guess what if $50k is not for newbies 😅😅😅

Topic: I went big into Bitcoin and Ethereum... - page 2. (Read 831 times)