[kbell]

I just started investing in bitcoins, litecoins and etherium on coinbase. I've read its not the safest place to store the currencies for some reason on the exchanges.

There are also hardware based usb drives (Rezner or Trezner don't remember the name) that do something for storage in terms of not being hackable, but than use can lose them since they are small. And their is an interesting online one called a GreenBit which have some sort of relationship with a validating node to make it harder to hack.

How do you guys store your currencies?

[Biz]

Ledger Nano S is the best hardware wallet, Trezor ranking number two. If you have certain Alt coins just google said coin and wallet and there's tons of wallets you can download for specific coins, especially ones that you can stake and have to store them in the specific staking wallet.

Coinbase is likely the safest to store, it's US based and have to face the strictest laws.

Something like Ether Delta on the other hand is on the opposite spectrum.

If you're just holding it's best to keep on the hardware wallets, if you're an active trader then in makes sense to keep (some) on the exchange's

It all comes down to security!

Some tips include:
- 2FA enabled for all exchanges and emails
- separate email accounts for each exchange (protonmail is good)
- dedicated computer for trading, never use public wifi and only use smartphone in emergency situations
- separate you crypto world from your public world
- use maximum character passwords, write them down on a piece of paper if you can't remember them and HIDE it -- never store online
- bookmark exchanges and make sure it's https:// -- tons of people get phished by googling the exchange sites and they're fake

That's a basic starting point, takes awhile to get everything set up, especially if you're on a few different exchanges but better safe than REKT!

[Turnus]

Is Exodus.io any good?

I don't have a significant amount at stake now so not looking for a hardware wallet yet.

[MikeS]

I'm using the Exodus wallet for now. Nice user interface, support for a number of cryptos (I'm only using it for BTC and ETH so far, but there's a selection of altcoins as well, although from my still limited knowledge the selection seems a little... random, and missing most of the most popular ones), and also built in coin exchange using the decentralized Shapeshift.io (too expensive for regular trading but handy if speed and convenience is the most important for a few exchanges here and there).

At the moment though - still with small investments - most of my crypto is on exchanges for day trading (I've given up on altcoins for the time being so I'm mostly trading BTC/EUR on GDAX, the Coinbase exchange), and next year I'll get one of the hardware wallets.

[SamuelBRoberts]

Exodus is cancer.
Stay the fuck away from it.

It has a VERY nasty habit of failing to send out coins, and letting them sit in limbo for ages.

I've had this conversation several times.

Sam: "Exodus is cancer. Stay away from it."
Guy: "What are you talking about? It's always worked fine for me."

Later...

Guy: "God damn it Exodus isn't transferring my goddamn money! The price of bitcoin/ether/litecoin is crashing and my money's been stuck for 3 hours!"

[Turnus]

(11-04-2017 07:00 PM)SamuelBRoberts Wrote:  

Exodus is cancer.
Stay the fuck away from it.

It has a VERY nasty habit of failing to send out coins, and letting them sit in limbo for ages.

I've had this conversation several times.

Sam: "Exodus is cancer. Stay away from it."
Guy: "What are you talking about? It's always worked fine for me."

Later...

Guy: "God damn it Exodus isn't transferring my goddamn money! The price of bitcoin/ether/litecoin is crashing and my money's been stuck for 3 hours!"

Thanks for the feedback. Any suggestions for an alternative?

[MikeS]

(11-04-2017 07:00 PM)SamuelBRoberts Wrote:  

Exodus is cancer.
Stay the fuck away from it.

It has a VERY nasty habit of failing to send out coins, and letting them sit in limbo for ages.

I've had this conversation several times.

Sam: "Exodus is cancer. Stay away from it."
Guy: "What are you talking about? It's always worked fine for me."

Later...

Guy: "God damn it Exodus isn't transferring my goddamn money! The price of bitcoin/ether/litecoin is crashing and my money's been stuck for 3 hours!"

What are you talking about? It's always worked fine for me.

Of course for me it's only been a little over a month since I bought my first cryptos and I've made less than ten transfers from or to Exodus.

What are good desktop alternatives? I always see Electrum mentioned for Bitcoin, so I guess it's good? What about for Ether? I've read that some of them require downloading the entire Ethereum blockchain, which I really don't want to have to do on my space limited SSD disk.

[SamuelBRoberts]

MEW and Metamask seem to be the standards for ETH.

[ElJefe1]

I use a combination of online wallets, and will be purchasing a hardware wallet like a trezor or ledger this week. Whatever you do take it off of the exchanges m

[h3ltrsk3ltr]

Udemy has some awesome crash courses on cryto.

I just use coinbase right now but I'm trying to figure out how stuff like Armory and hardware wallets work

[MikeS]

(11-05-2017 11:15 AM)ElJefe1 Wrote:  

I use a combination of online wallets, and will be purchasing a hardware wallet like a trezor or ledger this week. Whatever you do take it off of the exchanges m

Every HODLer says that. But obviously taking it off the exchanges is only for people who - or the part of your crypto that you want to hold and not trade (or at least not on a daily basis).
Lots of traders clearly have a lot of money on the exchanges. But yes, definitely transfer out the portion you're not going to trade with, there's obviously no point in taking additional risks for no reason at all.

[bojangles]

Mew, neon, trezor and holdings on exchanges such as bittrex and bitfinex for trading

[ElJefe1]

(11-05-2017 01:47 PM)MikeS Wrote:  

(11-05-2017 11:15 AM)ElJefe1 Wrote:  

I use a combination of online wallets, and will be purchasing a hardware wallet like a trezor or ledger this week. Whatever you do take it off of the exchanges m

Every HODLer says that. But obviously taking it off the exchanges is only for people who - or the part of your crypto that you want to hold and not trade (or at least not on a daily basis).
Lots of traders clearly have a lot of money on the exchanges. But yes, definitely transfer out the portion you're not going to trade with, there's obviously no point in taking additional risks for no reason at all.

Yeah I HODL, and plan on HODLing certain coins for a long term basis, with that being said I trade on a very regular basis almost daily. In order to do so you don't have to leave them on an exchange and I'd highly urge everyone to not leave their coins on any exchange. It takes no time and cost very little in fees really to transfer from your MEW, or NEO, or whatever wallet you use for whatever particular coins. It boggles the mind that you'd not only leave a lot of your coins in an exchange and that you'd actually advocate for it saying you should if you trade on a regular basis and I genuinely hope no one here follows such flawed advice.

[MikeS]

(11-06-2017 08:11 AM)ElJefe1 Wrote:  

(11-05-2017 01:47 PM)MikeS Wrote:  

(11-05-2017 11:15 AM)ElJefe1 Wrote:  

I use a combination of online wallets, and will be purchasing a hardware wallet like a trezor or ledger this week. Whatever you do take it off of the exchanges m

Every HODLer says that. But obviously taking it off the exchanges is only for people who - or the part of your crypto that you want to hold and not trade (or at least not on a daily basis).
Lots of traders clearly have a lot of money on the exchanges. But yes, definitely transfer out the portion you're not going to trade with, there's obviously no point in taking additional risks for no reason at all.

Yeah I HODL, and plan on HODLing certain coins for a long term basis, with that being said I trade on a very regular basis almost daily. In order to do so you don't have to leave them on an exchange and I'd highly urge everyone to not leave their coins on any exchange. It takes no time and cost very little in fees really to transfer from your MEW, or NEO, or whatever wallet you use for whatever particular coins. It boggles the mind that you'd not only leave a lot of your coins in an exchange and that you'd actually advocate for it saying you should if you trade on a regular basis and I genuinely hope no one here follows such flawed advice.

I'm starting with a small account - still less than €500. Bitcoin transfers are so expensive that they can eat an entire days trading profit or more if I were to transfer in and out almost every day. Not to mention that I frequently leave limit trades overnight, so far primarily to great benefit.
Are you actually telling me that most traders transfer in in the morning and out at the end of the work day, completely ignoring the remaining hours of the day and night as profit opportunities?

For now - at least until a little while after the Bitcoin fork - I'm staying out of altcoin trades.
So far - and with five weeks since I first heard the word cryptocurrency (only heard of Bitcoin before then) I'm obviously still the lowest level of amateur (hence my advice was not advice but observations and conclusions) - I can't see much of a pattern to them other than hard to predict pumps and dumps and fluctuating in direct correlation with Bitcoin.
Right now I'm doing BTC/EUR trades on GDAX.

[redbeard]

(11-04-2017 08:04 PM)SamuelBRoberts Wrote:  

MEW and Metamask seem to be the standards for ETH.

You can store ETH and all ETH-based alts on Ledger using MEW offline storage:

https://ledger.groovehq.com/knowledge_ba...ith-ledger

[ElJefe1]

(11-06-2017 01:38 PM)MikeS Wrote:  

(11-06-2017 08:11 AM)ElJefe1 Wrote:  

(11-05-2017 01:47 PM)MikeS Wrote:  

(11-05-2017 11:15 AM)ElJefe1 Wrote:  

I use a combination of online wallets, and will be purchasing a hardware wallet like a trezor or ledger this week. Whatever you do take it off of the exchanges m

Every HODLer says that. But obviously taking it off the exchanges is only for people who - or the part of your crypto that you want to hold and not trade (or at least not on a daily basis).
Lots of traders clearly have a lot of money on the exchanges. But yes, definitely transfer out the portion you're not going to trade with, there's obviously no point in taking additional risks for no reason at all.

Yeah I HODL, and plan on HODLing certain coins for a long term basis, with that being said I trade on a very regular basis almost daily. In order to do so you don't have to leave them on an exchange and I'd highly urge everyone to not leave their coins on any exchange. It takes no time and cost very little in fees really to transfer from your MEW, or NEO, or whatever wallet you use for whatever particular coins. It boggles the mind that you'd not only leave a lot of your coins in an exchange and that you'd actually advocate for it saying you should if you trade on a regular basis and I genuinely hope no one here follows such flawed advice.

I'm starting with a small account - still less than €500. Bitcoin transfers are so expensive that they can eat an entire days trading profit or more if I were to transfer in and out almost every day. Not to mention that I frequently leave limit trades overnight, so far primarily to great benefit.
Are you actually telling me that most traders transfer in in the morning and out at the end of the work day, completely ignoring the remaining hours of the day and night as profit opportunities?

For now - at least until a little while after the Bitcoin fork - I'm staying out of altcoin trades.
So far - and with five weeks since I first heard the word cryptocurrency (only heard of Bitcoin before then) I'm obviously still the lowest level of amateur (hence my advice was not advice but observations and conclusions) - I can't see much of a pattern to them other than hard to predict pumps and dumps and fluctuating in direct correlation with Bitcoin.
Right now I'm doing BTC/EUR trades on GDAX.

Tried it can get annoying paying those fees even more annoying if someone hacks your account or the exchange closes down and you loose everything... but I'm not saying what you should or shouldn't do based on the kind of trading you do it makes sense to leave on an exchange what I am saying is anything can happen... good tonseenyoubgetting in and joining this crazy ride we are all on, good luck bro I hope you make a fucking killing.

[Kid Twist]

Does anyone recommend trying to make deals for coins that aren't registered or tracked sites? I figured that defeats the purpose of having coins in the 1st place. But the catch seems to be at the end, when if you want go "get out" or switch back to fiat, it becomes an issue if you sell it on an exchange ...

[TheFinalEpic]

Currently have a copay account, looking at getting a solid wallet USB style perhaps in the next while.

[musashi]

Copay is one of the better wallets I use. I have a nano s ledger on the way. I bought it of crypto asylum for the best price in Canada that I could find

[UnW]

I use Jaxx

[kuros]

(11-07-2017 09:06 PM)Kid Twist Wrote:  

Does anyone recommend trying to make deals for coins that aren't registered or tracked sites? I figured that defeats the purpose of having coins in the 1st place. But the catch seems to be at the end, when if you want go "get out" or switch back to fiat, it becomes an issue if you sell it on an exchange ...

I also noticed the hard way that while all exchanges accept you depositing dollars to them,
when it comes withdrawal time, too many exchanges will never actually let you withdraw

[Rossi]

Does anyone have Ledger Nano S? How is it?

Do most people keep their cyrpto currencies on exchange? What are pro's and con's? I know, websites can be hacked and everything might be stolen but did anyone ever do it successfully?

[Que enspastic]

Nano Ledger

[Rossi]

(12-16-2017 07:11 AM)Que enspastic Wrote:  

Nano Ledger

Is it easy to use? I just checked it, it's €70. Thinking to buy one.

Plus, can you store as many as you have or does it have any limit?

[Maciano]

I can't speak for others, but this is what I did.

Under $500 -> Exchange
$500-$20K -> Hardware wallet: Trezor, Ledger Nano, KeepKey
Above $20K -> Full node* or disconnected PC with Bitcoin Core/QT wallet or Armory

*See Glacier protocol
https://glacierprotocol.org/

- Don't save your bitcoins on your phone
- Don't use your phone for 2FA
- Don't use shitty webwallets like Blockchain.info