Topic: Question from Newbie - page 3. (Read 460 times)
Aside what has been mentioned already, I will need you to read and learn more about how to keep the crypto coins that you will eventually buy and your wallet safe. You need to understand the importance of a recovery phrase, and also thee need to have 2FA enabled on online accounts as extra security measure.
If you have money to spare you can buy ledger nano s to store your Bitcoins but if you prefer online storage, you can go with Blockchian.info. managing your coins is easy since you mentioned that you are into trading so most likely your coins are stored in a trading platform like Poloniex or Bittrex. Storing coins there is not advisable if you have no plans yet of buying trading pairs but if you already have, I would worry more on how to earn more BTC than managing it. Selecting the right trading pair is more worrisome than managing it.
there are a lot of way for you, to buy and store your money, for trading as well. For buyng the simpliest way is from coinbase but you have to pass through the KYC so it means at the end you will pay taxes, if you want to advoid it you can use localbitcoin and chose the "in person" solution, you will meet personally with the seller to close the transaction. To store your money the better and safest way is a ledger nano, then if you want to trade, my advice is Binance, is the best choise right now
you are welcome
my advise read more before do any thing
my advise read more before do any thing
Exactly, my biggest fear is to have money stolen
If you want to exchange choose a trading platform: polo, bittrex, yobit .. you can keep eth and bitcoin on the exchange but you have to secure your account to avoid losing. Or you can use online wallet like coinbase or blockchain.
you are welcome
my advise read more before do any thing
my advise read more before do any thing
Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?
Create an account in some trusted/old exchange sites, such like poloniex and bittrex would be a best idea for altcoin and bitcoin trading. Before deposit your money, make sure you have verified your account first or you can't withdraw your money due to failed their KYC process.I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?
Many thanks for your advice!
If you’re looking for a hardware wallet for cold storage, google Ledger Nano S, Trezor, Digital Bit box or keepkey. These are some of the popular hardware wallets you can purchase.
Great!
Thanks!
Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?
Create an account in some trusted/old exchange sites, such like poloniex and bittrex would be a best idea for altcoin and bitcoin trading. Before deposit your money, make sure you have verified your account first or you can't withdraw your money due to failed their KYC process. I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?
If you mean manage is to do trading. You should do something that provides a high security system such as vip (must do the account verification) every your transaction will be able to get information before thru text. Beside BTC or ETH, try altcoin occasionally.
You have already started trading, but yo do not know where to store your bitcoins and eth's.
Security is the first thing that you need to think about before trading, and let me tell you that if you are going to put all your money on trading, or if you are going to be the whole day trading, the best thing that you can do is just move all your funds to your exchange.
Maybe it is not the best thing that you can do, but you will not spend more than five bucks everytime that you want to move your $ from there.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Security is the first thing that you need to think about before trading, and let me tell you that if you are going to put all your money on trading, or if you are going to be the whole day trading, the best thing that you can do is just move all your funds to your exchange.
Maybe it is not the best thing that you can do, but you will not spend more than five bucks everytime that you want to move your $ from there.
Thank you for this info!
Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?
I think the best way to use your funds in order to buy bitcoin, is to go to coinbase and make a purchase there. Their fees are a bit high, but it allows you to directly buy crypto with fiat, and you don't need to first buy tether for example. If you can verify you account on Gdax, that is also owned by coinbase, so by creating an account on coinbase, you already have an account at Gdax, you can avoid fees altogether, both for purchasing crypto, or for trading it.
If you want to just trade, you can stay there, or move some of your funds to bittrex, since it offers a lot of altcoins to trade. If you want to store crypto, then after you bough it, you should at least install a desktop wallet like electrum, and move your coins there. If you really want to keep your coins secure, then a hardware wallet like trezor or ledger is the best option.
If you’re looking for a hardware wallet for cold storage, google Ledger Nano S, Trezor, Digital Bit box or keepkey. These are some of the popular hardware wallets you can purchase.
Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?
this is a popular question to others btw if u want to buy btc or eth much preffered to u poloniex because this is a cold wallet much preffered ur account has been verrified and put the 2fa for more securities.. why u put the exchanger than paper wallet .. because if u put funds in exchanger anytime u can pull out ur funds in one transaction or u can gain any time btc or eth if u put ur funds in paper wallet this is advisable cause you hold the private key do not explore ur privatekey for more secured ur funds.... if longterm put ur funds in paperwallet..
Quote
Hello, thanks for your reply! what is a cold storage, btw?
A cold storage is way to store bitcoins offline.It can be a paper wallet or a hardware wallet.
If you want to start trading cryptocurrencies the first option is Coinbase.It`s the most user friendly online wallet and exchange platform,but you have to upload and verify your ID.
I don`t mind keeping more than 1000 USD in an online wallet,but the newbies should be more careful.
Thanks for your reply! Very informative!
Quote
Hello, thanks for your reply! what is a cold storage, btw?
A cold storage is way to store bitcoins offline.It can be a paper wallet or a hardware wallet.
If you want to start trading cryptocurrencies the first option is Coinbase.It`s the most user friendly online wallet and exchange platform,but you have to upload and verify your ID.
I don`t mind keeping more than 1000 USD in an online wallet,but the newbies should be more careful.
If you have amounts over 1k $ , i suggest you to spend 50$ for a cold storage. If you have less, you could trust online wallet as blockchain.info , using 2FA and SMS aut for stay safe.
About manage,i don't understend what do you mean, but first of all never send your coin to other ppl\ company that promise you unrealizable profit. Then , if you are interested, you could follow my signature and read more about my services.
About manage,i don't understend what do you mean, but first of all never send your coin to other ppl\ company that promise you unrealizable profit. Then , if you are interested, you could follow my signature and read more about my services.
Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?
Hello, thanks for your reply! what is a cold storage, btw?
If you have amounts over 1k $ , i suggest you to spend 50$ for a cold storage. If you have less, you could trust online wallet as blockchain.info , using 2FA and SMS aut for stay safe.
About manage,i don't understend what do you mean, but first of all never send your coin to other ppl\ company that promise you unrealizable profit. Then , if you are interested, you could follow my signature and read more about my services.
About manage,i don't understend what do you mean, but first of all never send your coin to other ppl\ company that promise you unrealizable profit. Then , if you are interested, you could follow my signature and read more about my services.
Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?
Hello, everyone!
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?
I need some piece of advice from the experienced people.
I dared to start trading , I have enough funds to purchase BTC or ETH, but I don't know, where to create wallets and how to manage them (I mean safety issues)?
Can anyone share their experience about that?
Jump to: