- Jul 15, 2014
- 28,444
- 47,238
Crypto currency
- Thread starter Gator By Marriage
- Start date
- Jul 29, 2014
- 22,153
- 23,375
- Jul 29, 2014
- 22,153
- 23,375
Get it will it's hot guys..... I'm fixing to off load my gold miners stock and park it there(Grayscale)as soon as it goes back to 45....
I think I've found more gold in my sock drawer than those useless Canadian miners have since I bought that stock...
I think I've found more gold in my sock drawer than those useless Canadian miners have since I bought that stock...
- Nov 12, 2017
- 1,602
- 3,947
Your hardware wallet holds your 24 phrase combination without allowing it to contact the outside world, and authorizes transactions. To activate the wallet you only need to put in your pin number. You also have to have your 24 phrase combination also written somewhere else. You can write it down on a card, but there are metal cards that are made specifically to store your passphrases, which you can store inside your fire resistant safe. Or you can store those passphrases offsite in a bank box if you like.
As long as you have access to either your passphrases OR your hardware wallet, you can recover all your crypto accounts.
And yes if you find this too complicated, then just park your funds on Blockfi or Gemini, and earn interest. Just be advised that crypto is not FDIC insured obviously, and if BlockFi or Gemini gets hacked, or they go under for whatever reason, they owe you nothing.
- Sep 7, 2014
- 2,737
- 5,881
So what do I do, buy bitcoin with coinbase pro app, then transfer it to this wallet? Then I actually am holding the actual bitcoin? I'm still a dummy with this stuff.
How is this online wallet different from having it with coinbase? Again, I just don't know.
- Jun 2, 2016
- 6,805
- 8,002
My understanding is with Coinbase, you don't control your private keys. You also run a risk of the site going down, like it did a couple weeks ago.
Here's a good breakdown of the Edge mobile wallet.
Edge Wallet Review (2021): How Safe Is Edge Wallet?
While it's not as hardened as a true cold storage wallet, the security-minded crypto folks I listen to say it's incredibly secure. And it's a heck of a lot easier to use.
- Jul 15, 2014
- 28,444
- 47,238
- Sep 7, 2014
- 2,737
- 5,881
Yeah I dont like the idea of borrowing against crypto. Way too volatile. Im pretty sure if the asset tanked there woukd be a “margin call” of sorts
- Jul 29, 2014
- 22,153
- 23,375
- Sep 8, 2014
- 25,420
- 59,317
I'm not sure. I've only bought and sold MARA for quick gains. I'm 100% out of MARA right now, but got back in w/ MFH (only 153 shares, just over $1000).
- Jul 15, 2014
- 28,444
- 47,238
- Jul 29, 2014
- 22,153
- 23,375
Anyone else starting to notice a down point of resistance in the mid 40's for Bitcoin or is it too soon to assume that? It seems to have bounced upward off 43-45 a couple of times now. I'm really hoping for this anyway as it would make a nice entry for those who haven't bought or an adding point for chicken sh!t MFer's like myself who never throw more than a few grand a time at something new...I'd like to add more from my gold miners fund which is doing squat for the last 6-8 weeks...
- Sep 8, 2014
- 25,420
- 59,317
I'm right there with you. I've been too scared to get fully into bitcoin...but now that these legit companies are investing heavily in it, I'm throwing a small amount. I like @UFHealthGator strategy to dollar cost average into it.
My MFH stock is up 18+% since I got into it after the recent BTC sell off. I only bought $1000 worth, but I'll take $180+ after a few days! The problem w/ MFH & MARA is....when do you sell?
