Topic: Onwards and Forwards! (Hello crypto land :D) (Read 762 times)

Electrum is a good desktop wallet for keeping your coins. You should not keep all your coins in an exchange, even a safe one like coinbase.

Here's some info on how Gatehub wallets work; https://steemit.com/gatehub/@cmbartley/gatehub-brief-overview-of-ripple-vs-hosted-wallets

I wouldn't recommend Coinbase (or any web wallet for that matter). Others have had issues in the past with Coinbase, particularly with Coinbase just closing accounts based upon your transaction history and where you are sending and receiving your Bitcoin from.

Desktop wallets aren't that "high tech". All of them are just plug-and-play; install the software and run. Most will have detailed instructions and wizard stuff to guide you through the setup process. You can also use a wallet like Electrum which does not require you to download the entire blockchain.

Install both ETH and ETC wallets. Then just withdraw one of the cons. Check to see if you receive both ETH and ETC even though you only withdrew one coin. If you did, that's a problem. If not, that's great. Then withdraw the other coin and check again. If you do not receive both ETH and ETC for the withdrawal of one of the coins, then you are safe. Otherwise, you will need to be very careful when spending in order to not accidentally spend both coins when you only meant to spend one.

Of course, if you do happen to receive both ETH and ETC on one withdraw, you could try to make a profit off of that by selling the other coin, but you could run into some issues.

So I decided to go with Coinbase. It seems to have the biggest following. Seems like a pretty legit company. I uhh, feel more safe with my coins here then in my exchange. There software is very user friendly, and even I figured it out on my own. The desktop wallets requiring me to  downloading the entire blockchain, is a little too high tech for me. Not to mention, they have live chat which was very useful.

Now on to the ETC mess..... not sure exactly how to move that into a safe wallet.

Any suggestions?

With the markets today, I'm actually following the trend and dumping ETH and buying ETC.. hopefully I won't get hammered too hard.
I'm also diversifying some what and buying some dash and xrp with a % of my ETH.

I guess this means learning more about altcoin wallets and exchanges/gateways.

Can anyone recommend some userfriendly/safe wallets for Dash or XRP? I finally got my some volume over on Poloniex so I'll be doing all sorts of buying/selling in the upcoming future, I'm going to need some wallets to HODL!

There is an issue with the fork where moving one coin, say ETH, could also move the other fork, ETC. So if you do withdraw your ETH and ETC, you have to be careful to not accidentally send both ETH and ETC to someone. I don't know how the exchange will handle that though. They could be sending you post fork coins or pre-fork coins. If it is pre-fork coins, then you will have to be aware that this issue will probably affect you.

Yes, you should definitely move your coins off of the exchange. Exchanges are not really meant to be wallets. You should also use a desktop wallets. Desktop wallets do not have any sort of 2 factor authentication, but they also mean that you do not have to trust any other service with your money. Desktop wallets put you in control of your own money, so you must be careful and attentive if you have a desktop wallets. They cannot be hacked; the only way you can get any of your coins stolen is by somehow getting malware on your computer. You should have a modern and up to date antivirus, making sure that your computer is always clean.

I don't know much about Ripple, so I can't help you there.

To hodl is to hold your coins without ever spending them in the hopes that the price increases substantially. Basically hoarding.

Fear Uncertainty, and Doubt. It usually means misinformation, and lies spread by people in order to push a certain agenda. You will see a lot of this in the block size debates.

It has nothing to do with transactions and everything to do with an exchange. Exchanges usually have to follow Anti-Money Laundering (AML) and Know Your Customer (KYC) laws. This means that they will have to collect your personal information in order to verify your identity and make sure that you are not money laundering or doing anything shady.

Hello & welcome to crypto land!
Your wallet is the safest place you can store your bitcoins! on your desktop or hardware wallet, (if its gonna be your desktop use an external hard drive to save your wallet .dat file)

FUD stands for - fear uncertainty doubt movie
thats correct for HOLD

Well, if you are scared of withdrawing because you are afraid of not getting the funds, than you also don't have access to them when you leave them on there.

The only thing you know for sure is that you will know if they pay out when you try to withdraw. So there should be no harm in moving the funds.

As far as running your own wallet: It is not very difficult, but security is very very important. If you have an infected pc there is a big risk of losing your coins. Make sure you have good security and preferably run a clean install on the machine where you store large amounts of coins.

HODLer is indeed someone that holds his coins in hopes of rising in the long term. Does not care about short term fluctuations like traders do.
FUD is Fear uncertainty and doubt. It is a tool to try to manipulate the price by spreading rumors about a coin. Mostly it is quite clear.
KYC I think is know your customer and has to do with ID verifictation by exchanges.

Hello forum, I've read and read, and studied and learned.. for about 2 weeks... but now I gotta ask a few very beginner questions Hello bitcointalk!

My story, I have some BTC / ETH and ETC on QuadrigaCX (Vancouver based, Canadian exchange)
It was a great option for a crypto noob, to lose my crypto virginity. After some study, I had finally been convinced I want some of the action. I got in about a week or two before the Ethereum HardFork, and actually didn't even know it was coming. I got confused trying to figure out what exactly happened/what the dao was, and in fact am still kinda a lil confused about it all, but I have read enough articles to somewhat have a basic understanding of the current situation. Luckily for me, QuadCX provided us with ETC's, as I heard some exchanges didn't handout any ETC to people who had ETH. Without getting to side tracked, let me get to some ?'s.

Now, I'm considering taking my coins off QuadCX and moving them into a wallet. I read about some horror stories/scams on here, of exchanges going down or never paying out when people ask for withdraws. It this a smart move? I'm concerned, if I move my crypto into a wallet can that software get hacked as well? I'd like to move to 2sV (2 step verification) wallet, as I think that'd have better security.

If this is dumb, and I should just leave my coins on the exchange, pls let me know.

Another reason I wanna get familiar with crypto wallets is I wanna purchase Ripple. I'm thinking either with fiat, or ETC. TBH, if I knew how to move my ETC to Poloniex, I'd already have spent 25% of my ETC on buying XRP, then sent the XRP to a XRP wallet... but I'm not that crypto savy yet. As far as I know, this wouldn't affect my current ETH in anyway. True?

Learning about Ripple, I learned a little bit about the outdated Ripple Trade, then about GateHub, and how Ripple Trade accounts, were moved to GateHub.. So GateHub is a wallet+exchange? Also, I read this.. http://blog.gatehub.net/post/147641039422/gatehub-fifth-handling-of-the-ethereum-hard-fork
Which really questions my desire to do business with them at all.  ( Did they choose a "winning chain" yet? Has this resolved yet? Isn't this scammy?)

Terminoligy ?'s
HODLer = someone who never sells, like a crypto hoarder?
FUD = ? No clue.
KYC = something to do with a transaction, that has ID built into it?