Bitcoin

[MountainTracker]

What is everyone using to buy? I originally(like a month ago lol) bought some on pay pal but then bought some through crypto.com. Is there a better place to buy?

I only have lime $150 into bitcoin, i try to buy a little each pay but have earned on that money


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CoinBase, Kracken, SwanBitcoin. Get a cold wallet and pull your btc off once allowed. I would suggest Robinhood, but it’s a massive pain to withdrawal btc from their exchange.

DCA


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[adamm88]

CoinBase, Kracken, SwanBitcoin. Get a cold wallet and pull your btc off once allowed. I would suggest Robinhood, but it’s a massive pain to withdrawal btc from their exchange.

DCA


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Crypto.com charges a fee for a withdraw. Do the ones you mentioned charge fees? is that normal? Again im very new to this....

 

[CorbLand]

Crypto.com charges a fee for a withdraw. Do the ones you mentioned charge fees? is that normal? Again im very new to this....

Coinbase charges a fee to buy, not sure about withdrawing.

 

[WiscoHoundsman]

I like the strike app on my phone for buying small amounts and then transferring it to cold storage. There is a small buying fee. I’m sure most places have some sort of fee

 

[fmyth]

Coinbase charges a fee to buy, not sure about withdrawing.

CB charges a fee to buy and to sell. No fee to move your crypto off of CB.

 

[MountainTracker]

I like the strike app on my phone for buying small amounts and then transferring it to cold storage. There is a small buying fee. I’m sure most places have some sort of fee

I forgot strike, I know some people that use that and like it.

Yes there are always some kind of fees or slippage in price.


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[william schmaltz]

withdraw?

 

[MountainTracker]

withdraw?

Put on a cold wallet off of exchanges.


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[william schmaltz]

Put on a cold wallet off of exchanges.

I just bought my 3rd ledger on Monday.

Their sale goes until the end of the day for anyone without a wallet: https://shop.ledger.com/pages/black-friday

 

[Mighty Mouse]

Crypto.com charges a fee for a withdraw. Do the ones you mentioned charge fees? is that normal? Again im very new to this....

Every exchange that I know of charges some sort of fee to buy or sell crypto. Exchanges themselves often don’t charge a fee to transfer crypto from the exchange to a wallet (or to another exchange), but making such a transfer does incur a network fee (paid to the miners that operate the blockchain).

Coinbase, Gemini, Kraken, and Strike are all reputable crypto exchanges that I’ve used. I haven’t compared fees amongst them lately, but I would guess those platforms are all very similar fee-wise.

 

[william schmaltz]

I’ve put a good chunk into SUI the last few months. It bumped over $4 today. It’s at $12B market cap. Reason to believe it goes $100B+ market cap like similar layer 1 projects with legit utility did last bull run. Just an FYI. This project currently has more room to run than ETH, XRP, or SOL.

MooDeng was added to Coinbase yesterday. It’s at $500M market cap. I bought a few SOL worth a couple months ago just under $100K market cap. I think there is potential for this thing to do a SHIB, PEPE, DOGE type meme run. Same as the others, there is no utility to the coin and a pure speculation and gamble.

 

[Historybuff]

I don't know what's "best". I have just used coinbase and never had a problem

 

[Historybuff]

If your investing and saving hard earned money for the future and you cant afford to lose it. Buy and STUDY bitcoin only. Please. This is not financial advice.

 

[CorbLand]

I just bought my 3rd ledger on Monday.

Their sale goes until the end of the day for anyone without a wallet: https://shop.ledger.com/pages/black-friday

Are you talking about the Nanos?

Is there a major advantage to say a Nano vs just keeping it on Coinbase for the average person?

 

[MountainTracker]

Are you talking about the Nanos?

Is there a major advantage to say a Nano vs just keeping it on Coinbase for the average person?

I would personally caution guys from keeping anything long term on an exchange. Long term being more than a month, or a set amount of dollar value. What that value is, is up to the individual investor.


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[Crowmangler]

I would personally caution guys from keeping anything long term on an exchange. Long term being more than a month, or a set amount of dollar value. What that value is, is up to the individual investor.

This 100%.
Remember: "NOT YOR KEYS, NOT YOUR COINS"
Anything could happen & these exchanges could be shut down, hacked, there could be laws passed in your state that forbid you to use them (ex: Binance.US in NC)
Same philosophy as buying gold. Why wouldn't you want it in your possession?

 

[Mighty Mouse]

Is there a major advantage to say a Nano vs just keeping it on Coinbase for the average person?

Advantages (and disadvantages) of keeping crypto in a hardware wallet vs. on an exchange are similar to keeping cash at your house vs. in an account at the bank. If the exchange goes bankrupt (unlikely but not unprecedented), has technical difficulties, or confiscators come knocking, the crypto they’re holding on your behalf could be at risk. Crypto held in a cold wallet cannot be moved without the password used to secure the wallet. If you keep your password secret, no one can take your crypto out of your wallet. On the flip side, if the physical wallet gets lost/stolen/destroyed or you forget the password, the crypto held therein is irretrievable.

Exchanges are more subject to systemic risk; wallets are more subject to individual risk. How much crypto to keep where is an individual choice based on your risk assessment/tolerance and how you value security vs. convenience of access.

 

[CorbLand]

I would personally caution guys from keeping anything long term on an exchange. Long term being more than a month, or a set amount of dollar value. What that value is, is up to the individual investor.


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This 100%.
Remember: "NOT YOR KEYS, NOT YOUR COINS"
Anything could happen & these exchanges could be shut down, hacked, there could be laws passed in your state that forbid you to use them (ex: Binance.US in NC)
Same philosophy as buying gold. Why wouldn't you want it in your possession?

Advantages (and disadvantages) of keeping crypto in a hardware wallet vs. on an exchange are similar to keeping cash at your house vs. in an account at the bank. If the exchange goes bankrupt (unlikely but not unprecedented), has technical difficulties, or confiscators come knocking, the crypto they’re holding on your behalf could be at risk. Crypto held in a cold wallet cannot be moved without the password used to secure the wallet. If you keep your password secret, no one can take your crypto out of your wallet. On the flip side, if the physical wallet gets lost/stolen/destroyed or you forget the password, the crypto held therein is irretrievable.

Exchanges are more subject to systemic risk; wallets are more subject to individual risk. How much crypto to keep where is an individual choice based on your risk assessment/tolerance and how you value security vs. convenience of access.

So in this case, I should buy one of the Nanos from the link William posted and move my stuff there? That is all I would need to do, correct?

 

[bober90]

So in this case, I should buy one of the Nanos from the link William posted and move my stuff there? That is all I would need to do, correct?

That is one of the easier methods to move to cold storage, yes. I would try sending just a small amount your first time just test, if it’s your first time.


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[eddielasvegas]

If you can't hold it, you don't own it.


Eddie