Official CryptoCurrency Thread (Bitcoin, Litecoin, Ethereum & More)

[paperbag]

I'm interested in IOTA. Been researching for a few days. How can we purchase if you're the US though?

Binance, but bitcoin deposits are shutdown for 24 hours, you'd need to exchange ETH

 

[heisenburrr]

@heisenburrr fam... when do I move my coins from the exchange? I buy often (3 or 4 times a month) and don't want my coins going every which way. Is the wallet just for storing when I plan to buy something with the coins? Can I just leave the coins in the exchange and watch the amounts go up? Need some help dunny

Always move out of exchange every single time you purchase unless you plan to trade or something. The wallet is to secure your coins which can be compromised if they are left on exchanges

 

[Crispy]

well your boy did it !

i done copped .067 bitcoin

after weeks of watching that sh!t go up

while waiting for my bank transfer to hit my coinbase

i finally copped some

then i watched that sh!t drop from 5,800 to 5,550 in no time

I'm trying to build up a long position in bitcoin

so its no big deal

it is funny as sh!t tho

i got another $100 i'm going to play around with bittrex

i came in to rep yall for sharing the game

but that sh!t seems to be broken

i'll hit ya when it comes back

 

[MalikReloaded]

Always move out of exchange every single time you purchase unless you plan to trade or something. The wallet is to secure your coins which can be compromised if they are left on exchanges

You fukking with the Trezor or Ledger Nano?

 

[mamba]

You fukking with the Trezor or Ledger Nano?

I have the Ledger Nano

 

[Swirv]

Can't get safer than a paper wallet

 

[heisenburrr]

You fukking with the Trezor or Ledger Nano?

I would recommend the Nano at the moment but I own a Trezor and it's still a good product

 

[heisenburrr]

Can't get safer than a paper wallet

It's a little more complex than this but assuming proper steps were taken to generate seed/entropy then yes they are as safe as can be

 

[paperbag]

Can someone link me to a walk through on how to get a wallet? I'm still kind of confused as to how it works.

Also I read that Ethereum has bugs in the code that can lock people out of their coins? This happen to any of you? Crypto looks like a good flip but I'm very bearish on anything jumping this high so fast. Bitcoin went up 1k in like 4 days.

What is a Bitcoin wallet and Bitcoin address - Bitcoin Whiteboard Tuesday #3

Basically go to the app store on your phone, install coinomi (hot wallets-connected to the internet). WRITE DOWN YOUR SEED PHRASE. make a strong password (25 characters minimum). the wallet will generate a unique address that you can send bitcoin or other coins you buy or trade for from an exchange like coinbase or bittrex. you may want to do a small test transfer of litecoin(lower fee) just to make sure you understand the process. you can only send litecoin to a litecoin address or bitcoin to a bitcoin address ect. Allways copy and paste addresses, dont try to manually copy it down, 1 letter or number wrong and its gone forever.

if your going to be accumulating bitcoin and holding large amounts youll want to buy a hardware wallet like trezor or ledger(cold wallet- not connected to the internet), the run from $70-100.

 

[Willie]

Always move out of exchange every single time you purchase unless you plan to trade or something. The wallet is to secure your coins which can be compromised if they are left on exchanges

Bet. Good look bro

 

[MalikReloaded]

I have the Ledger Nano

I would recommend the Nano at the moment but I own a Trezor and it's still a good product

Alright. Those were the two that were recommended. But what happens if the device malfunctions in anyway

Binance, but bitcoin deposits are shutdown for 24 hours, you'd need to exchange ETH

Appreciate it. I researched it too. I should've knew people had figured out ways to buy. I'm copping IOTA on Friday

 

[Jammer22]

Get greedy and wait last minute to buy sia, hoping it hits the floor, breh.

Don't bother to check out the sia website, breh.

Learn u got to sync it your cause your mobile's cpu can't run the wallet.

Find out you can't sync to your pc because it ain't 64 bit, breh.

Hope Bittrex off-line storage and 2FA will save ur greedy-butt, breh.

 

[mamba]

Alright. Those were the two that were recommended. But what happens if the device malfunctions in anyway

For Nano, you can just get a new one and use your recovery code list to setup the new device.

All of your info will be safe.

 

[heisenburrr]

Alright. Those were the two that were recommended. But what happens if the device malfunctions in anyway



Appreciate it. I researched it too. I should've knew people had figured out ways to buy. I'm copping IOTA on Friday

You have a backup that contains your seed (a list of words randomly generated). I would strongly advise to use additional password security which they ask when you create the wallet. That way someone who gets their hand on the paper containing your seed cannot steal your funds

 

[MalikReloaded]

Appreciate all the info brehs @heisenburrr @mamba