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.
Topic: I went big into Bitcoin and Ethereum... - page 3. (Read 831 times)
Thank you all again for great info!
Just waiting for the Trezor to show up to do the transfer.
Just waiting for the Trezor to show up to do the transfer.
Coinbase is okay for holding some coins temporarily, though I would not entrust them of my money for extended periods of time. As soon as you receive your Trezor, go on and withdraw all your funds immediately and be done with it. It's better to stay vigilant and keeping one's eyes peeled in these situations wherein a huge amount of money is involved than entrusting it on a third-party that may or may not screw you over in the process. Also, hacks are still a thing in 2021, so might as well be safe with everything.
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.
Better suggestions, as the money that you have should be taking care of yourself, it's not that Coinbase might collapse or something happened along the way, but it's always good to have the full control of your assets. Providing more deeper securities and additional
care in case attempts of hacking happened.
Hardware wallet will keep you more safer as you have everything and guarding your assets is far better as you are holding it in full control.
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.
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!
Hello, I think Coinbase are safe enough about the time you will keep your coins in their wallet. In any case, Trezor wallet is a much more secure and good option, but I think that in a few days you will not have any problems with the security of your coins.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.
Where did you heard it?? I've read that their site is actually very secure.
From themselves?? Nobody will ever say negative things to their own product you know that
From other people?? They might be not a long term holder of Bitcoin and ETH.
Overall, it isn't that safe even though there is a 2FA on their site/app. Not your keys, not your coins so in short they are the ones holding your coins so you don't own your coins like literally. Buying a hardware wallet like Trezor like you mentioned would be the best choice especially if you are a long term holder of it. Maybe you can keep it on Coinbase only if you are planning to trade it after few days or weeks.
One thing more, don't ever ever state any amount of Bitcoin you bought especially you are a newbie (base on rank) because scammers might target you and they will try to scam you.
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!
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.
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!
They are safe and secured but most of us wants to have our own wallet which we have full control that's why we chose hardware wallet.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 want to hold for a long term it is better to do it on hardware wallet and if I am not mistaken coinbase have a limit on cash in and cash out so it is better to hold your crypto on your own wallet if it is a huge amount.
In general, holding for long term in an exchange is not safe, you should put it in hard wallet.
Always aim for the best security especially that if there's a money or investment involved.
Never settle only on an exchange when you want to store your coins or to hold it for a long period of time, it is always much better if you have a hardware wallet like a ledger nano or a Trezor one. Safety and security of your assets are always important because it is not that easy to earn it and when you have it, secure it.
Don't put all your coins in a single wallet, look for other safe options like hardware wallet to become confident and comfortable with your coins.
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!
First of all it is not a good idea to tell everyone how much bitcoin and ethereum you bought a few weeks ago, remember there are many ways to protect your coins and one of the easiest is to not tell people you do not know that you hold so many coins to begin with, now about the cold wallet, with that mount of money it makes sense that you acquired one, so as long as you do not plan to leave your coins in Coinbase for long then your coins should be relatively secure until you learn how to use your hardware wallet. 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!
As soon as my Trezor gets here, I'm going to get all all up and running.
Then I'll transfer like $5 dollars just to make sure I'm doing this right.
Maybe wait a day or so and then do most of it but like you say, keep some in Coinbase.
Thanks again everyone!
What I wanted you to do is to spend time visiting the forum just to have some additional knowledge about crypto and to get familiar with the community.
Well, if you don't mind, I would like to ask you what are you gonna do with your asset? Will you just hold it or have a plan to trade? Anyway, holding is better since you are new to the crypto world and you have the right choice of Bitcoin.
Definitely reading more and more on here to learn from everyone.
I'm a holder for sure. No trading for me.
Coinbase is secured even of a lot of exchanges and wallets for example Binance has been breached. Coinbase remains unscathed with their tight security up until these day they never been hacked. Although there are some issues with withdrawal being unavailable for some unknown technical difficulties. Its still one of the best wallets to keep your BTC.
I wouldnt put that much on an exchange if I were you, and just like other said. Electrum is safer if you are waiting for your trezor to arrive. Anyway, you shoulf atleast secure your account first, if needed some requirements for security, comply with them. But anyhow, Coinbase is a good exchange just do not go against their TOS as they are freezing accounts if you do so.
Personally i don't like coinbase. I don't recommend anyone using coinbase. Because there are so many victim i saw that they hold Bitcoin and other coin in coinbase and after that they can't transfer their coin. I don't know why that happened. I also don't know that if the coinbase team fix this problem or not. As soon as possible transfer your coin, this will be better for you.
I used coinbase for a bit but their frequent changes to TOS, inquires about my source of funds and problems with accounts that other users reported made me change my mind about them.
There are one of the most popular and most secure exchanges out there but don't expect any privacy if you trade there.
I don't think that OP is at any risk if he's holding coins there for a week or so waiting for the hardware wallet to arrive but as soon as it does he should move everything there.
You have chosen the 2 most secure projects in the crypto space as of today which is a good move for any beginners. As others have said, you should desist from announcing your worth of investment so that you will not be a target for scammer. If anybody sends a private message to you as regards coinbase or Trezor, just ignore or block, that is how they will get started before they get you.
Yes, that is true. As the amount is not small, you will be potential target of scammers or hackers. Don't entertain users that will offer you help in securing your online account. Because he will just screw your funds. Don't divulge how much you have, better keep your details to yourself. With so many scammers these days, they will find a way how to deceive users. As a beginner, your choice of putting your money to bitcoin and eth is a smart move. You can't go wrong with these 2.
You have chosen the 2 most secure projects in the crypto space as of today which is a good move for any beginners. As others have said, you should desist from announcing your worth of investment so that you will not be a target for scammer. If anybody sends a private message to you as regards coinbase or Trezor, just ignore or block, that is how they will get started before they get you.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.
It may not be really a strength of security, but at least, 2FA becomes the first security system to protect your account to be accessed by others. But it may be different if the hackers do it. However, better to use 2FA than no more security system again. $50,000 of Bitcoin and Ethereum thru Coinbase.
Really good point for this. I saw so many new people are coming into cryptocurrency and they a :(re investing in a new project that is hype and also FOMO. BUt you choose BTC and ETH, I think this is the right option. 
I am quite amazed by the opening post, dare to invest in large amounts even though he still a newbie. Because the $ 50k capital for me is huge,
I remember the first time I bought Bitcoin for only about $ 30. Regarding Coinbase, it is an exchange that does have a good security system,
but all exchanges are actually very vulnerable to being hacked. Therefore what you do by buying a hardware wallet is very precise, hopefully
it will arrive soon to the hardware wallet you have purchased. And all Bitcoin and Ethereum that you have on Coinbase can be immediately
transferred to your hardware wallet. You can leave Bitcoin or Ethereum on Coinbase, maybe around 10% only if you want to trade.
If you do not intend to trade, you can store everything in a hardware wallet.
I remember the first time I bought Bitcoin for only about $ 30. Regarding Coinbase, it is an exchange that does have a good security system,
but all exchanges are actually very vulnerable to being hacked. Therefore what you do by buying a hardware wallet is very precise, hopefully
it will arrive soon to the hardware wallet you have purchased. And all Bitcoin and Ethereum that you have on Coinbase can be immediately
transferred to your hardware wallet. You can leave Bitcoin or Ethereum on Coinbase, maybe around 10% only if you want to trade.
If you do not intend to trade, you can store everything in a hardware wallet.
You did the right decision in purchasing cold wallet, take it out your funds right away from coinbase it is safe for now but centralised exchanges shouldn’t be trusted. Welcome to crypto and in Bitcointalk, you’ll learn a lot from this platform.
Jump to: