((ReFleXioN)) EteRNaL
RIP MR. SMOKE
oh alright i'm trippin. i'm thinking if you transfer it to a wallet, it's in cash. so ok...yea now I get it.
1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:
- Thread starter JordanWearinThe45
- Start date
YamakaSmacker
Banned
Contemplating pulling out 25% of my xrp but I think ima leave it. It has treated me very well the past 2 days while iota has been heartwrenching. Holding my big 3; i don't even pay attention to those anymore accept dips. And keep an eye on omg
((ReFleXioN)) EteRNaL
RIP MR. SMOKE
yea the shyt just clicked for me. I get it now. good looks
Entropy Fan
Superstar
If you put 1 bitcoin in your wall for example its value is based on whatever the market price is. It gains or loses in your wallet same as it would in coinbase.comI thought if you put in a wallet, it's no longer gaining. like the currency is completely off the exchange just like if you were to transfer it to your bank. i'm really trying to understand this fully. cause it's scary to me thinking that all my shyt could be stolen as long as it's on the coinbase servers. I'd be constantly trying to sell my shyt and missing out on even better growth. or maybe i'm getting this wrong.
MewTwo
Freeing Pokemon From Their Masters Since 1996
The fees are bad apparently:
The Radiant One
Superstar
It depends the trezor and ledger wallet that's true but there are many ways to store bitcoin and some people don't want to hand over cash for a good wallet. Please brehs buy a good hardware wallet or if it is in an exchange at least have it be somewhat safe (coinbase vault) we can't have black wealth "just disappear".
If i'm understanding this tho..
...if you put 1000 in lite coin in coinbase but you decide to transfer that 1000 of litecoin to a secure wallet... the value is still the same/growing. It's just in a different spot. The only thing that changes is they are no longer available to you in coinbase... if i'm understanding this correctly? Bc the BTC i transferred from coinbase to Binance still grows in Binance.
That is correct. Its like owning a collector's item. If the value for it goes up. When you're ready to sell it its worth whatever the market value is at the time.
So these wallets have to be purchased? Are there free wallets (or free wallets that are 'secure', i should say) or is it pretty much 'you get what you pay for' type thing? And is coinbase vault pretty much coinbase (i.e. the app)? Or is that an add on/separate thing from it?
Malik1time
What you looking at?
Its crazy how people really getting money off this
if only i knew earlier
if only i knew earlier
Its crazy how people really getting money off this
It's earlier breh, the market is "only" $500 billion, compare it to the global fiat exchanges if you want to see where it could end up ($70 trillion).
Cake up while everyone is waiting for the bubble to burst.
Entropy Fan
Superstar
The Radiant One
Superstar
For info on types of wallets
How to store your bitcoins - bitcoin wallets - CoinDesk
Also since this is a digital currency you don't have to pay anything to store your bitcoins you can simply have a "paper" wallet
How to Make a Paper Bitcoin Wallet
But for some of these losing your key means your bitcoins are lost forever and that happens more than people who have gotten hacked. There are pros and cons for all types of wallets ..
Here is a little summary about coinbase wallet.
Coinbase Vault makes it highly unlikely for your coins to ever be hacked and if they are it takes 48 hours for them to move which means that it is highly likely the transaction will be stopped before it goes into the hackers wallet.
Coinbase Review - Security, Exchange, Vault, Wallet, Fees and More
Coinbase Security
In the world of cryptocurrency, security is paramount. Coinbase is extremely well-financed, and as such is able to invest a significant amount into the development and maintenance of robust security systems. Coinbase is backed by trusted investors and is one of the only cryptocurrency trading platforms that is backed by venture capital from well-known investment banks and other financial institutions.
High level financial backing means high level financial security, and for this reason Coinbase has become one of the most well-trusted cryptocurrency trading platforms online. In the United States, Coinbase is covered by FDIC insurance that provides up to $250,000 USD. This insurance applies only to the funds in USD-based Coinbase wallets, and is only available to residents of the United States.
Coinbase is currently licensed in 38 States in the USA, and holds a “Money Transmitter” license in states where it is required. Coinbase is also supported by continuous audits of their overall financial operations, reserve management practices, and comprehensive background checks on all management staff members. By working closely with regulatory bodies, Coinbase has made itself the most trustworthy cryptocurrency platforms online.
When it comes to security, there are no other platforms that are as safe as the Coinbase exchange. Coinbase protects their users from hacking attacks with insurance, backup management, and offline private key storage. Even if hackers were able to access funds held by Coinbase, the platform would easily be able to compensate users.
While Coinbase security is extremely high, it’s important to remember that users lose part of their freedom in return for protection. Coinbase is able to disable or freeze user accounts at any point in time, completely blocking user access to funds. As the original purpose of cryptocurrency is to provide users with complete control over their own funds, it’s important to use Coinbase only as a trading platform, and manage the storage of your own cryptocurrency locally.
The reason why IRS is able to go after coinbase and not other exchanges is because they insure their money which means a risk of coinbase is that the IRS will tax you like I said evaulate the pros and cons and see which is best for you.
I'll be ordering mine today.
Thieves are licking their chops. If you have large amounts you don't plan on trading. Safeguard your shyt.
I've never done this but I assume you can email your address to yourself, print it out and delete the email. Store that print out in a safe place, and you would be good.
Anyone ever done this