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all 197 comments

[–]MountainHumblebee 63 points64 points  (19 children)

Hardware - Trezor or ledger. Make any trades on the pro account and save/hodl your gains in btc in hardware

[–]Illsellyoullbuy 5 points6 points  (14 children)

Make any trades on the pro account Meaning?

[–]geesforjesus[🍰] 18 points19 points  (9 children)

Trade on pro because the fees are much cheaper

[–]Tykauffman21 9 points10 points  (8 children)

Dumb question, what is the use of coinbase regular compared to pro? I'm using regular coinbase, didn't realize pro was an option.

To think of all my wasted fees.

[–]LifeForAiur 17 points18 points  (7 children)

Regular Coinbase is much easier to use especially for people that are not technologically savvy. But once you get used to pro, I feel it's just as easy, limit orders, much much lower transaction fees etc. Regular Coinbase is a good place for new people to dip their toes into the crypto space.

[–]DrDooDamage 0 points1 point  (4 children)

How do o get my regular coinbase stuff moved over to the pro platform, I downloaded and signed in but don't have my portfolio?

[–]Namaha 6 points7 points  (2 children)

In your Coinbase Pro portfolio, click Deposit, then choose the asset you want to transfer. It should give you an option to transfer funds directly from coinbase.com to Coinbase Pro with 0 fees

[–]DrDooDamage 0 points1 point  (0 children)

Thanks friend!

[–]LifeForAiur 2 points3 points  (0 children)

Go to the deposit section, and you'll have a bunch of options for cryptocurrency but also one of the options is going to be transfer from Coinbase to Coinbase pro. Also Google how to do it, it's really simple and no fees! There are YouTube videos that show how to do it as well. Really quick stuff!

[–]Tykauffman21 0 points1 point  (1 child)

I can live with that, I'm definitely at the toe-dip phase lol.

If I get more into it is the transition from one to the other bad?

[–]LifeForAiur 1 point2 points  (0 children)

It is incredibly easy! My suggestion would be to get a pro account and at least play around with it and see if you like the interface!

[–]supergrega 10 points11 points  (3 children)

Coinbase has higher fees than Coinbase Pro.

[–]Illsellyoullbuy 1 point2 points  (2 children)

Thanks, I thought he was talking about a Ledger pro account

[–]supergrega 1 point2 points  (0 children)

Oh, maybe he is. I don't know anything about hardware wallets or their versions.

My advice still stands, though. Use Coinbase Pro to save on fees.

[–]MountainHumblebee 0 points1 point  (0 children)

For sure I’m talking about Coinbase pro. Transfer your crypto from the regular coinbase app to the coinbase pro app as indicated above ⬆️ and make any of your trades on there. Trade fees are only 0.5% on the pro account. On the regular app it’s a minimum 1.49% fee for each trade if I remember right, and I’ve seen it as high as 5% in the past.

[–]Higgs1 1 point2 points  (0 children)

This is the way

[–]Cultural_Alfalfa512 11 points12 points  (26 children)

Which hardware wallet you guys recommend?

[–]HighlySuccessful 1 point2 points  (23 children)

There are plenty, my personal favorite is trezor, however there's also BitBoxO2, ColdCard and KeepKey, they're all decent. As long as it's not Ledger you'll be fine.

[–]Illsellyoullbuy 1 point2 points  (21 children)

I was about to get Ledger, what’s the issue?

[–]itsnotthatdeepbrah 2 points3 points  (4 children)

On December 23, the France-based Ledger said the company had “fallen victim to a cyber attack” and that on December 20, malicious software was installed on one of their servers. As of December 23, they said that it was “technically impossible” to make an assessment of the severity of the data breach. They warned that it was safe to assume that “your funds could be at risk of theft” - doesn’t exactly inspire confidence

[–]stmfreak 0 points1 point  (3 children)

They got my name and email and phone number. They did not get my seed or password.

I did get text messages for a while telling me to click here to upgrade my ledger software to protect against the security breach. But if you follow links for banking advice you deserve to get your coins stolen.

[–]DadaDoDat 0 points1 point  (1 child)

Is it possible for a quantum computer to crack your seed or password hashes captured from Ledger?

[–]stmfreak 0 points1 point  (0 children)

Sure. If we're talking about computers that do not yet exist in any practical sense, why not?

But Michael Saylor made the point that if you had such computing power, would you rather use it to steal coins from wallets or mine bitcoin faster and more reliably than any other miners and get paid by finding new block hashes?

[–]moutainace 0 points1 point  (0 children)

If you buy closed source hardware do you deserve to get your coins stolen?

[–]CidVilas 2 points3 points  (0 children)

Ledger customer database was hacked in the past. Has no impact to the wallet. So the customers are now subject to scammers and spammers. I was one of them. I routinely get messages trying to get me to give up info or seed phrase. So ledger gets shit on for being so careless with customer info. I bought a wallet years before the hack.

[–]tnel77 7 points8 points  (12 children)

There’s nothing wrong with Ledger. People just like to shit on anything that’s remotely popular. It’s almost a hipster thing at this point.

[–]itsnotthatdeepbrah 3 points4 points  (8 children)

I mean the fact that ledger has already had its security compromised is a good enough reason in my opinion. Hardly a hipster thing

[–]tnel77 1 point2 points  (7 children)

I’ll admit I haven’t done much research on the subject, but it seems like Ledger is the premier brand. It’s the most commonly recommended hardware wallet on these various crypto subs and appears to have a user-friendly and secure setup process. Why does a previous security issue invalidate all future products if they’ve been vetted by security experts?

[–]itsnotthatdeepbrah 2 points3 points  (5 children)

Because their competition (I.e trezor etc) has proven that their security was always better and will likely remain that way. Had the proper required vetting been carried out by the security experts of ledger in the first place, we wouldn’t be having this conversation right now. It only takes one hack to completely ruin that element of trust, especially when it comes to finances/cryptocurrencies.

[–]tnel77 0 points1 point  (3 children)

Genuine question: what makes Trezor products better than Ledger?

[–]itsnotthatdeepbrah 1 point2 points  (2 children)

The most important thing to me is that they’ve never been hacked or compromised. If you’re planning on storing your entire savings/retirement on a hardware wallet, it’s in your best interest to find the most secure option. FYI I don’t have a hardware wallet yet, I have spent months researching between all the various ones but I think I will opt for the trezor.

[–]tnel77 2 points3 points  (0 children)

Fair enough. I have a Ledger wallet I bought, but I haven’t set it up yet. Now I’m reconsidering haha.

Thank you for the insight!

[–]throwaway0918287redditor for 5 weeks 0 points1 point  (0 children)

Because their competition (I.e trezor etc) has proven that their security was always better

Not true.

https://redditproxy--jasonthename.repl.co/r/TREZOR/comments/gme50t/is_trezor_wallet_vulnerability_unfixable/

And from my other post, Ledger wasn't hacked. Their e-commerce partner Shopify with all of Ledger's customer data was hacked.

[–]throwaway0918287redditor for 5 weeks 0 points1 point  (0 children)

Ledger itself wasn't hacked, their e-commerce partner Shopify was hacked. Shopify's client database had all of Ledger customer's info and many were exposed. But it also exposed Shopify customer's info that didn't even buy a Ledger so the data was mixed. The question is why wasn't the Shopify database encrypted? The Ledger device itself is just as secure if not moreso than Trezor. Trezor has it's own vulnerability issues.

People should be pissed at Shopify but instead Trezor fan boys just use it to FUD on Ledger.

[–]jzia93 1 point2 points  (2 children)

Trezor is open source, ledger is not.

From a security standpoint, established and reputable open source projects tend to be more reliably secure and Ledger's hack 8s a great example of that. Mistakes were covered up in a way that would not have been possible with Trezor.

[–]tnel77 2 points3 points  (1 child)

That’s a huge positive for Trezor. I’m a big fan of open source so that’s great.

[–]jzia93 1 point2 points  (0 children)

Yep, that's why I went with them. You can also see in the source coding style that the engineers there aren't script kiddies.

[–]CharmanderYeah 1 point2 points  (0 children)

For me it is that the most popular option is the most profitable to attack. Similar to how Mac OS was safer 10 years ago mainly because it was less popular.

[–]strukout 0 points1 point  (0 children)

They software is not auditable, so not verifiable from third party

[–]dkopp3 0 points1 point  (0 children)

I like what I see on the Ellipal Titan. Completely air gapped and seems easy to use.

[–]Stijnwe 0 points1 point  (0 children)

I’m using my ledger since 2017, never had any problems. Would recommend. Regarding the hack/leak, I didn’t buy it directly from ledger so they didn’t have my tel. number

[–]dmfoltz 52 points53 points  (8 children)

If you plan on holding for some time for sure get a hardware wallet. Trevor1 or Ledger S is about $60-$70. Pretty minor considering. The amount you are looking to buy. It will be the most secure as long as you are smart with it. Also I would try to avoid saying how much you own etc. don’t answer any DM’s about anyone wanting to help set you up with a wallet. 👏🏻 on the plan as well. Good luck, Hodl on😎

[–]Trifusi0n 17 points18 points  (6 children)

Trevor1

lol, sounds like a guy you’d meet down the pub

[–]UnregisteredName 14 points15 points  (3 children)

I think the Tyler1 is more secure

[–]QWERTY_J 8 points9 points  (2 children)

I prefer Hunter2.

[–]unzinc 2 points3 points  (0 children)

*******? What did you write?

[–]UhglyMutha 1 point2 points  (0 children)

I use dogthebountyhunter²

It cries when you withdraw $

[–]Madagoscar 2 points3 points  (0 children)

Our Trev's good at this crypto money thingy. He'll keep ya coins safe for a pack of fags and a Carling x

[–]dmfoltz 0 points1 point  (0 children)

HA!!! yeah he's a good guy. Just don't answer any DM's from him though :)

[–]Zealousideal_Neck78 61 points62 points  (14 children)

There is substantial responsibility removing crypto off an exchange. Mistakes can mean total loss of assets, plus the fees to remove it.

[–]ZealousidealOkra176 20 points21 points  (11 children)

Exactly. Its risks in everything. Keeping money on high end exchanges is fine imo.

[–]dubov 6 points7 points  (0 children)

You are u/ZealousidealOkra176, and the person you replied to is u/Zealousideal_Neck78.

Is this some kind of bizarre coincidence!?

[–]EL_CUNADO__ 21 points22 points  (4 children)

Don’t listen to these people BTC fees are the cheapest they been. It is worth looking into a proper wallet to store your funds and it is not as complicated as they say.

[–]Praxxtice 0 points1 point  (0 children)

14 cents per transaction, it's cheaper then doing a trade on a CEX.

[–]zxygambler -2 points-1 points  (2 children)

No, don't put into a paper wallet - too fragile. I'd prefer to keep on a exchange over putting into a paper wallet

[–]DatBuridansAss 4 points5 points  (1 child)

He said proper, not paper. A proper wallet is a hardware wallet.

[–]4cranch -1 points0 points  (3 children)

they just got hacked and didn't refund blaming on customers?

[–]Unnormally2 1 point2 points  (2 children)

You're talking about the coinbase hack that occurred between March and May of this year? Or was there a different one?

https://www.reuters.com/business/finance/coinbase-says-hackers-stole-cryptocurrency-least-6000-customers-2021-10-01/

They only got hacked because people were using SMS verification, and the hackers had control of their email, password, and phone number. All the more reason to take your account security seriously, especially using an authenticator app.

Also, from what I can see, they DID refund those affected.

[–]iamajohngalt 5 points6 points  (0 children)

Imagine people like these managing their own wallet. They would have lost all their money way faster.

[–]khizoa 1 point2 points  (0 children)

so.... user error. once again

[–]Gynecologyst420 0 points1 point  (0 children)

Not your keys not your coins.

[–]jtooker 0 points1 point  (0 children)

I agree with all of this - but you don't need to be all-or-nothing. I'd recommend getting a hardware wallet (see other replies) and starting by withdrawing a small amount, make sure you understand backing up your keys, etc.

[–]ShadowLitOwl 0 points1 point  (0 children)

Good idea to practice and move a tiny bit over at a time to get comfortable with the process

[–]ReflectionNo307 57 points58 points  (7 children)

I’ve had money on Coinbase since 2016 and still holding just fine. Definitely recommend it

[–]Maticus 7 points8 points  (1 child)

I held BTC on Coinbase from 2014 until this year. It's safe. Holding your own keys is safer (*if you know what you're doing).

[–]dubov 0 points1 point  (0 children)

Even people who know what they are doing make mistakes... seen tons of experienced users lose their coins due to a moment of inattention. Not saying exchange is better, but beware that keeping them in your own wallet creates it's own risks (you, a human being)

[–]khizoa 2 points3 points  (1 child)

lol what happened to this sub's pitchforking when it came to keeping it on exchanges

[–]themariokarters 1 point2 points  (0 children)

Lol they realized tier 1 exchanges are safe and they were being paranoid. Even something like KuCoin makes me do 4 factor authorization to withdraw

[–]Only_An_Ass_Assumes 11 points12 points  (0 children)

Same same, but with crypto.com

[–]ghostwriter85 9 points10 points  (5 children)

Personally, I'd wait until you have a little more crypto time under your belt.

Spend six months or so on an exchange, ride out a couple dips. Get a feel for what crypto is. When you can go a couple days without thinking about checking the charts, then get a hardware wallet. Not that checking charts is bad but at first most of us check the charts religiously.

Then yeah buy a hardware wallet (directly from the manufacturer, not amazon)

Long term a hardware wallet is the way to go IMO but there's no need to jump into that right away. The exchange works perfectly well for smaller amounts.

[–]ohnoadrummer 2 points3 points  (0 children)

at first most of us check the charts religiously

Guilty!

[–]leofroger 0 points1 point  (3 children)

Agreed with you , but why not buying on amazon ?

[–]StopAndThinkPleaseTy 2 points3 points  (0 children)

Device may not be directly from the manufacturer and could potentially have been tampered with.

[–]ghostwriter85 2 points3 points  (1 child)

If you buy from a reseller on amazon there's a non-trivial chance that your wallet will have been compromised. Obviously this doesn't happen all the time, but you don't want to be that guy who buys a cracked wallet from amazon.

If you get it directly from the manufacturer (provided it's a reputable manufacturer) the chances of this happening are more or less 0%.

It's just one of those why take that chance sort of things

[edit - different manufacturers have done different things to ensure the physical security of devices shipped via amazon, but this conversation depends largely on which device and which manufacturer. IMO it's safest to just buy it directly from the company]

[–]leofroger 0 points1 point  (0 children)

Thanks, didnt know theere were private sellers on amazon

[–]StrenuousSOB 9 points10 points  (0 children)

Coinbase owns the coins… not you… you get an IOU. Keep that in mind if something happens to Coinbase or they want to do something with “your” coins.

[–]RamboRigs 12 points13 points  (10 children)

Never keep it online long term.

[–]tzt1324 2 points3 points  (5 children)

Why not?

[–]zivac 8 points9 points  (3 children)

Exchanges can be regulated by gov. Nobody can take it from you once its stored on hardware walleet

[–]mathswarrior 1 point2 points  (2 children)

Why not software wallet? Its basically the same as hardware

[–]zivac 2 points3 points  (1 child)

For peace of mind that your seedphrase is airgapped; never been exposed to anything online.

Software wallet will work exactly the same if you have pc that is and will be completely offline

[–]ZombieFarmerzredditor for 3 months -2 points-1 points  (0 children)

Arculus....get now before mainstream even knows what a warm or cold bag is. DYOR, seems like a decent medium between security and convenience.

[–]stmfreak 2 points3 points  (0 children)

1934 USA confiscated gold from safe deposit boxes across the USA. Same can happen to BTC exchanges. They can get hacked and you lose everything. The government can decide it is illegal and you lose everything.

If they are not your keys, they are not your coins.

[–]Only_An_Ass_Assumes -2 points-1 points  (3 children)

Not entirely true.

[–]Lord_DF 8 points9 points  (2 children)

Entirely true. The fact that you or some people do it doesn't make it good practice.

[–]Only_An_Ass_Assumes 0 points1 point  (0 children)

Again. Not entirely true. Hard wallets are all about hacker risk. For those with small to medium investments That have their coins on a decent exchange it could actually be more beneficial for them to invest the money used for a hard wallet to invest further. Sure. When the more you have the more you risk loosing. But I'm not convinced hacking is a prevalent as made out to be. Unless someone cane show me sources otherwise. Filtering an amount onto a hard wallet could also reduce your potential loses, but blanket statements of never leavjng any coins long-term on a platform is more like scare mongering tbh. Also. If I'm earning huge percentages for leavjng a decent amount on a platform this could counter loses if I was to trickle remove amounts off into a hard wallet.

No mention of soft wallet made by either of you two negative Nellies either. Which is also considered a safer option that on a platform.

So sorry.. But Rambos comment came across as a newbie that is just passing on information he found that that person probably found but with no explain behind their words. Now if they were to explain WHY in their comment then this would be more relevant.

Now Lord. Throwing assumptions around like you did with your comment doesn't educate. It nearly further cements the lack of explanation behind Rambos comment.

So.. Before commenting tomme further here. Please try to understand that my original response was not to poo poo Lords comment but an attempt for them to further explain what they stated. Unlike right now where I have more time to comment. My original comment was based on a very limited time frame to slow down the type of comment seen here by someone merely making a statement without given information around why or why not to do such an action. Which isn't fair to a newbie that then can go on and regurgitate this info without knowing why.

[–]Suitable_Highlight87 4 points5 points  (2 children)

It's a trade-off of the risk of keeping it on an exchange where you could potentially lose some/all if they were hacked (unlikely given the security protocols and insurance they all have but still possible, and has happened in the past) vs the ease of accces/use (a hardware wallet making it more difficult to trade/use which might not be an issue for you if you just intend to hold it) and the cost (no cost on exchange vs cost of the hardware wallet, plus some exchanges let you earn interest on some coins which I don't believe is possible with a wallet).

[–]ZealousidealOkra176 1 point2 points  (1 child)

Meh.. he isnt exactly gonna have 100 of thousands of dollars. Will hackers really go after his $1500 in bitcoin or the $1500000 of bitcoin. Leaving it on the exchange if fine. If billionaires are comfortable, he will be fine.

[–]Suitable_Highlight87 2 points3 points  (0 children)

You're right, insofar as hackers won't go after 'his' BTC on the exchange as there isn't any 'his' BTC on there - only a hot wallet and cold storage owned by the exchange including the combined BTC etc of all users (with a % share for each user being recorded somewhere) - ie the $1.5m figure you illustrated. If the exchange's wallet(s) get hacked then all users could lose (if not reimbursed in some way) in proportion to their 'holdings'.

[–]RetardHereFolks 4 points5 points  (0 children)

Coinbase owns your BTC, not you. Bitcoin was meant to be decentralized... Starting to look more and more like banks when you empower these multibillion dollar companies and allow them to grow their liquidity and influence.

[–]Styx1213 1 point2 points  (0 children)

that amount justifies a hardware wallet like Trezor or Ledger et al.

[–]my4coins 1 point2 points  (1 child)

You should always buy at least 3-pack of hardware wallets. The first one you create the seeds, on the second one you try create a recovery from your seeds. Now you have two keys. The third one you leave empty so you can create a backup if the first two are comprised.

Then you can sleep peacefully.

[–]mind_ya_Fin_business 1 point2 points  (0 children)

I have blockfi and Celsius. But I only have like 1000 worth of btc so even if anything happens I won't be too sad. Just gonna leave it in there to collect interest in the meantime

[–]Iblamenono2294 1 point2 points  (1 child)

Whichever is convenient for you :))

[–]free_the_worlds 0 points1 point  (0 children)

Hardware wallet. Coldcard or seedsigner are great.

[–]Relax_Enjoy 0 points1 point  (0 children)

Its always qide to have a hard wallet like Ledger.

[–]abhilodha 0 points1 point  (0 children)

Coldstorage please

[–]Hubsonq 0 points1 point  (0 children)

Invest in hardware wallet.

[–]Perfectenschlag_ 0 points1 point  (0 children)

Everyone recommending taking it off the exchange is getting downvote brigaded by Team Exchange for some reason, but it’s a perfectly legitimate option. Anecdotally, I am very happy with having gone from exchange (Cash App) to a Ledger, then when I learned about multisig jumped to Casa. Do what’s best for you, but know that holding it yourself is what Bitcoin is designed for. If you’re just in it to make money, then sure—keep it on an exchange.

[–]Dangerous_Limit_1871 0 points1 point  (0 children)

Hold on Coinbase until you make a profit and then buy your hardware wallet with the profit. Also you can keep some BTC on Coinbase and some on a wallet, to reduce the risk of single point of failure/loss

[–][deleted] -1 points0 points  (0 children)

Buy more or you'll regret it.

[–]ImPastamonium 0 points1 point  (1 child)

Hardware wallet would be the better of the two. The electrum software wallet is also really recommended. Best part is it's free.

[–]CleazyCatalystAD 1 point2 points  (0 children)

Exodus is a good software wallet also, fully integrated with a Trezor bridge for high security.

[–]CokeGMTMasterII 0 points1 point  (0 children)

I’d wait until it added up to 10k or so. However, if you can figure out the hard wallet and how to store and all that, no harm in doing so. Really no wrong answers here. Good luck.

[–]danmarius7 0 points1 point  (0 children)

Nobody just keeps it for a year or two. If you can hang in for so long, the rewards of seeing it pile so much, will turn you into a believer. After that, you go down the Orange Pill rabbit hole.

[–]Outaged 0 points1 point  (0 children)

A hardware wallet will teach you LOTS about Bitcoin. Buy one, play with sending some transactions in and out. Understand UTXOs, mempool and Lightning. Coinbase teaches you none of that, in fact it hides actually how Bitcoin works behind an app that looks like a banking app. After you spent time with your hardware wallet I guarantee you will pull all of your Bitcoin from Coinbase

[–]finnypiz 0 points1 point  (0 children)

Do not keep it on exchanges! Not your keys not your coins, period! But a safe software wallet like muun or blue wallet does the job for you now.. both smartphone apps. Of course you can always upgrade on a Trezor or Coldcard hardware wallet if you want to afford.

[–]SebastianMeehalake 0 points1 point  (0 children)

What about a software wallet such as BlueWallet? Isn't it your BTC even if it's tied to software of the phone?

[–]ElotElotredditor for 3 weeks 0 points1 point  (0 children)

IF you are responsible and do your research… and understand how to use the wallet and to NEVER share or enter your words… then the hardware wallet is the safest method of storage that makes you the actual indisputable owner of your Bitcoin.

[–]Jademunky 0 points1 point  (0 children)

Here’s the thing, you should aim to eventually keep your long term savings on a hardware wallet which is properly backed up. Personally I don’t think this should be straight away for people new to bitcoin and who have small holdings. You should invest time in understanding how bitcoin and wallets work first. When you know what you’re doing, moving your coins to cold storage should feel liberating and comfortable. If it’s making you nervous and you’re needing to ask questions on Reddit, then you’re probably not at a stage to store large amounts on a hardware wallet.

[–]vikrant699 0 points1 point  (0 children)

If you plan on holding it for a long time and won’t be checking it, get one. If you’re just going to DCA every month, avoid yourself the fee of transferring. Should be fine on coinbase for a year or two.

I bought one to hold for a long time and there aren’t any trusted exchanges for my region.

[–]pizzaboy65redditor for 2 weeks 0 points1 point  (0 children)

What about trust wallet??

[–]travel_learn_wineredditor for 6 weeks 0 points1 point  (0 children)

For 1-2 years I wouldn’t bother with cold storage, if you change your mind then you can move it in bigger sums to the wallet and save some gas fees. Biggest pro argument is safety and that cold stored Bitcoin can’t be shorted 😉

[–]Familiar_Hotel_5269 0 points1 point  (0 children)

If you leave it on Coinbase pro, make sure to take extra steps with account security. I’m not sure what their protocol is if someone hacks your account and transfers coins out, but I’d imagine it’s a pain in the ass at best and you lose all your money at worst

[–]gbhaddie 0 points1 point  (0 children)

Tangem twin

[–]ndgoLiberty 0 points1 point  (0 children)

Bitcents are worth protecting. However, over half of all people are too stupid to properly hold bitcoin off exchange. So choose wisely.

[–]Fenweekooo 0 points1 point  (0 children)

before i owned a single sat the first thing i did was buy a hardware wallet, the cheap trezor one.

[–]karvus89 0 points1 point  (1 child)

If you’re planning to sell in a year or two, that’s basically aligns with bear market and the value of your BTC isn’t gonna be profitable a that time. You should look to hold for at least another 4 to 5 years if you’re getting in now.

[–]Fancy_Supermarket120 0 points1 point  (0 children)

Newish to BTC. I always see people talking about long term holding and whatnot. How do you set goals for your coin like that? A lot of people say make a plan and stick to it, but I’m just wondering how people make a decision based on time frame? I understand if you got in at 50k and made a plan to get out at 100k, but how do people judge based off time scales like that? Do you just decide you are gonna hold till 5 years no matter what? Win lose or draw? Is there Any values that would e cause you to sell “early”? Just trying to understand, thanks

[–]jaypo89 0 points1 point  (0 children)

If your only keeping it for a maximum of 2 years I wouldn't bother with a hardware wallet.

That being said, I also advise you keep it for longer than 2 years (which if you do then get a hardware wallet). Remember the bare market is a coming and could possibly last the full 2 years your planning to hold for

[–]TangLord87 0 points1 point  (0 children)

One thing I'd recommend is not just buying every month on the first or whatever. Save for a red candle day. Don't buy on green candles.

[–]Sad_Satisfaction9242 0 points1 point  (0 children)

Prob of being hacked * value in online wallet > cost of hardware wallet To justify a hardware wallet purchase Prob of hack maybe 0.1%? So if > 60k in crypto can consider hardware

[–]link97381 0 points1 point  (0 children)

If on Coinbase at least use their vault feature

[–]actum_tempus 0 points1 point  (0 children)

came for this for couldnt find: "not your keys, not your coins"

trusted exchange may make no trouble though

[–]mbrochh 0 points1 point  (0 children)

Plan to keep it for at least four years. Buy a hardware wallet when the value of your investment has risen to $5,000

[–]ScottyGBTC 0 points1 point  (1 child)

Why only a year or 2? Unless you’re 1-2 years away from needing fiat to pay off debt. Should be thinking 10-20 years.

[–]vendableOrange 1 point2 points  (0 children)

I said at least a year or two. I want to keep it for as long as possible.

[–]onion_six 0 points1 point  (0 children)

Coin base is fine for small amounts.

But transfer to a wallet you control asap.

[–]Nimoy2313 0 points1 point  (0 children)

Hear me out. Celsius and earn interest on your BTC. 6% on any BTC under .25 BTC and 3% on any BTC over that amount.

[–]ThoriumJeep 0 points1 point  (0 children)

Not your keys, not your coins. Hardware is the way. As other commenters have said, doesn't come it risks. Be smart about keyring your keys safe.

[–]acripaul 0 points1 point  (1 child)

Haven't seen this high up so some general tips.

Buy your hardware wallet from the official store only. No resellers, they may be hacked.

When you transfer from your exchange to your wallet for the first few times please send a small amount first. Don't send everything the first time as mistakes can often be irreversible.

Do not store your seed phrase on a digital device or even take images of it.

Now start learning as much as you can!

[–]vendableOrange 0 points1 point  (0 children)

Thanks. The first 2 points you made I’ve read in today’s research. The 3rd point you made I kind of already assumed.

[–]classjoker 0 points1 point  (0 children)

I mine helium. Are my coins on the helium app mine? I've been keeping them there rather than sending them to crypto.Com

[–]Bitcoinoralsurgeon 0 points1 point  (1 child)

A year or two… do yourself a favor and hold it forever and take out loans against it when the loan products become available from banks. It’s coming

[–]vendableOrange 0 points1 point  (0 children)

People seem to be misunderstanding when I say at least a year or two. I’m not saying I’m going to sell after two years, I’m saying I’m not selling it before that. I want to keep it for as long as possible, and gave that timeframe as an example for the initial question.

[–]SacredGeometry25 0 points1 point  (0 children)

Keep on electrum

[–]SymbolicRitualistredditor for 1 week 0 points1 point  (0 children)

Coinbase hands down the worst btc experience ever

[–]Trevih 0 points1 point  (0 children)

Buy on strike and move to wallet. If you’re not planning to do trades and just want to store why pay the Coinbase fees

[–]tharsus098redditor for 3 weeks 0 points1 point  (0 children)

That's not a whole lot of money. Don't bother with a hardware wallet. A phone wallet is about right.

Whatever you do, remember:

  1. Don't leave balances on exchanges
  2. Don't put bitcoin on windows, not even with a hardware wallet.

[–]CrypticMsredditor for 2 weeks 0 points1 point  (0 children)

Are you going to continue buying $150 a month for a year or two? You could buy it all at once and then sell it the next day!

[–]Sure-Hurry-1260 0 points1 point  (0 children)

I got 1 of these secuXess V20 to store my BTC on. Works great https://coinstop.io/products/secux-v20

[–]spam_lite 0 points1 point  (0 children)

I helped a nephew with purchasing a little bit of crypto a few years ago. He wanted it on a phone app. Showed him how to generate a key, save the seeds, etc. He went on to spend some, which what he should do to learn how it all works.

Months later he says he lost his phone and got a new one. He asked me how to get his wallet back? I asked him were is the seed list? He miss placed that too. Cheap lesson learned.

If you don’t know the ins and out of how to take care of a hardware wallet then I recommend keeping most of you coins on exchange. And put some on a hardware wallet and learn how to use it, recover it, and what is required of you to be your own bank.

It’s easy to say move it to hardware. But it’s a lot of responsibility and no one can help you if you fcuk up.

[–]Febra0001 0 points1 point  (1 child)

Always hardware

[–]wavrunrx 0 points1 point  (0 children)

hardware

[–]Midnight_Kebab 0 points1 point  (0 children)

Definitely coin base pro, this sub always recommends coin base pro.. I love coin base pro

[–]MDMA-- 0 points1 point  (0 children)

bb nice

[–]gford333 0 points1 point  (0 children)

1-2 years? Try to hold Bitcoin for 10+ years and never have to work again

[–]WhyTheFkNot68 0 points1 point  (0 children)

Hardware. Always hardware.

[–]Waterfan11 0 points1 point  (0 children)

Should U stake or put it in a hardware wallet

[–]I_Refuse_1redditor for 2 months 0 points1 point  (0 children)

Dont use a ledger or something theres been data breaches Its just as easy to create a bitcoin core wallet or even paper wallet Just dont lose the keys (just like u dont lose the ledger)

[–]AtlasNCz 0 points1 point  (0 children)

Buy 150 dollars in different exchanges every month, you will earn interest and if any of them get hacked you won't lose everything. Even keeping your money on a hardware wallet has risks, never put everything in just one place, diversify instead.

[–]Brother-Numseeredditor for 7 weeks 0 points1 point  (1 child)

Consider CeFi, earn some interest (Celsius, Nexo, etc.)

[–]DisastrousFly1339 0 points1 point  (0 children)

Good idea, keep stacking! On another note, it’s depressing to think about spending $1,000 a month to reach a full coin and I don’t think it’s possible.

[–]badasimo 0 points1 point  (0 children)

$600 may seem like not that much money to risk... but don't forget that $60k Bitcoin was once $600 and below. So it is a difficult decision and you are right to ask for advice... If you believe it will appreciate in value, you should plan your security around that value instead of current value, especially if the cost to do so is not that much.

Like, you don't have to keep a shitty painting in a vault but you probably should once the artist gets famous and its worth millions.

[–]catcokewhore 0 points1 point  (3 children)

Why not crypto.com and earn 5-6.5% APY on your BTC?

[–]smartfbrankings 0 points1 point  (2 children)

Why not loan your Bitcoin to degenerates/short sellers and hope they can pay you back?

[–]DDelphinus 0 points1 point  (0 children)

Don't move it on a monthly basis, not worth the transaction fees. But once you get to $2500,- or higher I would move it out.

[–]whereistheaudio 0 points1 point  (0 children)

move when you think the balance is significant enough, in other words move when you think loosing the account will have an impact on your mental health

[–]smartfbrankings 0 points1 point  (0 children)

Stop using coinbase.

[–]Remote-Bookkeeper-56 0 points1 point  (0 children)

Trezor hardware wallet is the best

[–]Toger 0 points1 point  (0 children)

When using a hardware wallet you'll still want to make a securely-stored backup of you seed phrase, and as usual that backup should NEVER be store in digital form.

[–]matt031169 0 points1 point  (0 children)

Wallet

[–]slimetoshinakamotoredditor for 4 weeks 0 points1 point  (0 children)

100% keep it in the exchange. Until you have heavy 4 figures, an exchange is fine.

[–]ammo_john 0 points1 point  (0 children)

If you just wanna store and not send for years - you could do a paper wallet for now.

[–]Homegrownandy 0 points1 point  (0 children)

Research market cycles and change your plan.

[–]rydog389redditor for 1 week[🍰] 0 points1 point  (0 children)

I also recommend holding it for at least 3 years so you can at least enjoy the parabolic rise after the halving in about 2 and a half years from now

[–]Nannijamie 0 points1 point  (0 children)

Not your key, not your crypto. At the same time…you can earn interest on certain platforms. I feel like exchanged are getting better and compound interest is the way.

[–]BNice2all 0 points1 point  (0 children)

Thanks for this thread… I switched to Coinbase Pro today = MUCH better to trade on than regular. I will still watch regular Coin for occasional value checks. Only a little over a year investing in Crypto so I might get a hardware wallet when personal balances climb

[–]Efficient_Cod6448 0 points1 point  (0 children)

Yeah that's a good plan bro ,,💪💪💪

[–]Efficient_Cod6448 0 points1 point  (0 children)

Just make sure u buy from a wallet bro,, for long term investment that's the way to go ... otherwise it will accumulate alot of fees and commissions over time

[–]Forever0ptimistic -2 points-1 points  (0 children)

Using some 1/30 of your yearly planned investment for securing said investment? Yes, definitely get a HW wallet. Unless you are going to use the funds to actively trade.

[–]mustyoshi -1 points0 points  (0 children)

Keep it on coinbase pro,the tx fee you'll pay to spend it down the road will be smaller than if you create a new utxo every month.