Just bought some crypto - page 4. | Bitcointalksearch.org

Moiyah

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Quote from: Bitinity on May 04, 2019, 02:48:34 PM

Just like what is being suggested previously by most members here, store your coins in wallet that you have a full control of your coins only. Dont forget to set up 2FA on the wallet and do some backup just in case something happen with your wallet.

It is necessary that OP should download Google authenticator app to prevent some hacking issues. I remembered those times when I didn't download a 2fa and there are so many emails entering my mailbox that someone is trying to hack my wallet. Binance is a good choice but it is not really safe to kept your coins there.
Anyway, I bet you have a huge profits now. Considering you bought btc and other coins way back 2009. Start to browse here in the forum to help you with your concerns. There are some guides here how to set up a wallet in nano ledger.

vatt55

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It is very important, even if binance is a secure exchange, it is better to keep your cryptocurrencies in an offline wallet, for example a ledger. Exchanges can suffer various types of attacks, and you could lose your cryptocurrencies forever.

aad140386

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simply getting the job done

If you have a lot of coins, you can transfer them to a cold wallet. Of course, it will be much safer. Although, if you are quite cautious and have a good attitude to security, you can easily keep money on your hard drive. It is important that your keys are on a separate media and you protect yourself from phishing sites. The danger of a hard disk can still be that it can fail at any time for various reasons. Therefore, I would reinsure your place and buy a cold wallet.

Ailmand

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Welcome back, you have a lot of thigs to catch-up in crypto. Going back to the topic, it is important for you to store your bitcoin in a hardware wallet than putting it online, especially exchange which is targeted by hackers.

mirakal

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Welcome back again, it's not too late for you to enter in crypt, in fact we are still in the early stage, so more opportunity is coming for us.

Quote

Here’s my question, my coins are currently on binance. How important is it to put them on the ledger?

Exchanges are vulnerable to hacking, putting it in a hard wallet will minimize the risk, you'll be more secured.
I presume that you invest by holding it long term, then hard wallet is the best idea.

naveenjunior

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Quote from: TryNinja on May 04, 2019, 01:37:41 PM

Quote from: Snowie810 on May 04, 2019, 01:26:14 PM

Here’s my question, my coins are currently on binance. How important is it to put them on the ledger?

VERY IMPORTANT, that's for sure. Unless you make sure they are stored in a secure wallet that ONLY you control, they will always be at some risk.

What happens if Binance gets hacked? Or runs away with everyone's coins? Or if the government shutdowns them? Answer: you lose your coins.

But that's not the only thing. You should always do your research to make sure you are doing everything fine. Which wallet to use, what measures to take to ensure that you'll be able to recover your coins regardless of what happens with your PC/device, etc... Bitcoin is still kinda hard and you need to know what you're doing.

If you are serious about Bitcoin and want to play around with some big money, I suggest you start by buying a hardware wallet. The best ones are:

1. https://www.ledger.com/
2. https://trezor.io/

pinoyden

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Storing cryptos on an exchange is risky but the chance of getting hacked is fairly slim since crypto exchanges have a good security . you should be fine , dont worry too much . storing your coins on an exchange is more easier if you are an active trader . you can save alot of fees compare to when you store your coins on a hardware wallet and constantly sending them on an exchange .

ranman09

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Better divide your bitcoin. Keep some tradable Bitcoins to Binance and keep some in your own Ledger device. Like most everyone here says, if you don't own the private keys that is not your bitcoin! Even if Binance is now at the top of exchanges, you can't lose the fact that technology is fast changing and Binance might collapse in the process. Better be secure.

Aldrinx00

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It's good to know that there are females who are also interested in cryptocurrency, I'm sorry for your part ways with your ex husband but shifting your interests in crypto is a wise decision. However storing coins on exchanges is not safe because you don't have full control, better buy a hardware wallet because you will have full control of your coins and which you have your own private key.

Astvile

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Quote from: Snowie810 on May 04, 2019, 01:26:14 PM

Hello Everyone,
I’m a female in my 30’s and when I first heard about bitcoin from Max Keiser on RT in 2009 instead of trying to figure out how to mine the bitcoin, I listened to his advice about gold and bought some coins.
Biggest mistake ever lol!
For the next 9 years I focused on my career and got married. Now I’m divorced and started picking up interests that I had before I was with my awful ex husband. Which include bitcoin. It’s come a long way since 2009.

I feel like this community will give me something bigger to be a part of and I sure hope that cryptocurrency will be around for a long time and I can prove warren buffet wrong!

Here’s my question, my coins are currently on binance. How important is it to put them on the ledger?

It is indeed important specially if you have a big extra amount that you are not using to trade on binance,but storing them in binance is also secure for me binance is a trusted website just turn on 2fa for more secured storing of bitcoins there

Kelvinid

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win lambo...

As everyone suggested to withdraw our coins in any exchange where we bought something, but if we are already used to trade directly then there is no need to withdraw it until it done. Even though we that control of our coins inside our wallet but we can't be 100% secured from hacking. All of us were subject into that and we are just lucky if we are not one their victims.

naufals4

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Quote from: Snowie810 on May 04, 2019, 01:26:14 PM

Hello Everyone,
I’m a female in my 30’s and when I first heard about bitcoin from Max Keiser on RT in 2009 instead of trying to figure out how to mine the bitcoin, I listened to his advice about gold and bought some coins.
Biggest mistake ever lol!
For the next 9 years I focused on my career and got married. Now I’m divorced and started picking up interests that I had before I was with my awful ex husband. Which include bitcoin. It’s come a long way since 2009.

I feel like this community will give me something bigger to be a part of and I sure hope that cryptocurrency will be around for a long time and I can prove warren buffet wrong!

Here’s my question, my coins are currently on binance. How important is it to put them on the ledger?

for your question i think ledger or in binance have their respective advantages, for binance we may find it easier to trade or cash into FIAT for bitcoin that we have but the disadvantages may be that binance will become a SCAM site so our bitcoin is taken or there are hackers who steal bincoin bitcoin. for ledger i think it's a safe place to save bitcoin for a long time

Ressurection

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@OP it's good you have started to invest into cryptocurrencies but i would advise you to withdraw your cryptocurrencies from binance exchange though it's among one of the cryptocurrencies exchanges in the crypto industry. Remember this "if you are holding some funds on a wallet which you don't have the private keys to it then keep it in mind it's not totally yours because anything can happen in this volatile space.

Fredomago

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Very important to place it where you have the full control of your wallet, binance even a good exchange still have lots of possibilities to messed with your bitcoin, like what some post here mentioned, the exchange can be hacked and there's no way for you to recover your bitcoin once that tragic happened,
is always best to have your own secure wallets with private keys you fully controlled.

carlfebz2

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Quote from: Snowie810 on May 04, 2019, 01:26:14 PM

Hello Everyone,
I’m a female in my 30’s and when I first heard about bitcoin from Max Keiser on RT in 2009 instead of trying to figure out how to mine the bitcoin, I listened to his advice about gold and bought some coins.
Biggest mistake ever lol!
For the next 9 years I focused on my career and got married. Now I’m divorced and started picking up interests that I had before I was with my awful ex husband. Which include bitcoin. It’s come a long way since 2009.

I feel like this community will give me something bigger to be a part of and I sure hope that cryptocurrency will be around for a long time and I can prove warren buffet wrong!

Here’s my question, my coins are currently on binance. How important is it to put them on the ledger?

Welcome to this Forum and Welcome to this Crypto World! We cant really avoid mistakes and missing out those golden opportunities to make some huge profits or money when btc is still just on early phase yet
we do have priorities in life which would be the reason on neglecting on some things which can potentially changed our lives.
About your question, it is really important to store up your coins on wallets which you do have access into its keys and never ever store up your coins on an exchange even though Binance
is good but theres no assurance that it cant be hacked so it would be a wise choice on storingg it on a ledger.

BossMacko

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Activity: 1134

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Welcome aboard youll get used in Bitcoin here. There are lots of guides or information that you need. Just look for the right section here and dont hesitate to ask high rank people and high positive trust users here. Enjoy and have fun trading.

thankyoulord

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Dont keep your coins in any exchange no matter how much the exchange claim to have tight security, rather save it in a wallet address only you can access. Saving coins in exchanges can be a risky thing to do, what if they got hacked or a good hacker hacks into your account and transfer your coins. so just be careful

MakeMoneyBtc

full member

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It is extremely important to move your coins out of your exchange account especially because you said that you want to hold them for a longer period of time. There is not point in holding your coins in your Binance account if you don't plan to use them in the next coming months or years. Binance is a trusted site but we've seen before big exchanges being hacked or disappearing with all of clients money and history can repeat anytime so just to be sure move your coins in a safe place.

teejayrichard2

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first of all welcome to the bitcoin community. You made a wise choice investing in bitcoin but then i will advice you keep your coins in a wallet only you have the key to. I have kept some coins in an exchange before and then woke up one morning to see everything gone. So store your coins in a wallet only you have the private keys or seeds to.

YuginKadoya

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Quote from: Snowie810 on May 04, 2019, 01:26:14 PM

I feel like this community will give me something bigger to be a part of and I sure hope that cryptocurrency will be around for a long time and I can prove warren buffet wrong!

I really think that Warren Buffet is a no brainer when it comes to cryptocurrency that is why he is a critique when it comes to this kind of Decentralize idea and he didn't merely need the attention when his giving comments about Bitcoin and other Cryptocurrencies, And that's right we will show him now that we are in a bull run state patient is the key to success,

And when it comes to Hodling your bitcoin and other cryptocurrency choosing the right wallet is the only advice I can give you for now and that is right don't let your coins sit on an exchange you will need to put in in your wallet of choice that is secure and had the convenient for your daily needs.

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