re: Official CryptoTalk Thread

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So coin base isn’t a private wallet? Do I need a separate “wallet” to get setup on coinbase?

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Your coins are on a shared wallet on coinbase. You dont need a separate wallet unless you plant to keep your keys yourself.

Make sure you do the proper research before you do this. While it doesnt sound hard, you can easily brick your keys if you dont follow the proper steps to keep your keys, phrases, passwords etc depending on how you store your own private keys.

I personally keep my crypto on exchanges but use a few different exchanges as apposed to being locked into one.

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i did use it. most miners will probably tell you not to use it, and that you'd be better off using the direct miner that nicehash uses in conjunction with Ethermine or HiveOS.


reason being it's more expensive to mine on nicehash than it is the other options i listed due to the fees. i'm currently getting paid in direct ETH instead of BTC. the one thing i miss from Nicehash is the payout every four hours. Ethermine is every 7 days if you have 0.005 ETH or every 14 days if you have 0.001 ETH. and i'm mining directly to my coinbase account wallet.


eta: if all your mining with is your laptop, nicehash is probably your best bet. just keep it chugging along and you should be good.

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The reason I use Nicehash right now is actually two fold.

Nicehash charges around a 10% fee. Some might think that is high, but it is often lower than gas fees when you start to move eth. If you plan to min ETH and hold it, mining directly to a pool is clearly the easy choice.

Second, I like the BTC conversion. BTC has been far cheaper for me to move/trade.

Also, for new miners it is an easy way to get started. Often people get started with nicehash and then upgrade to more advanced ways of mining.

So what gives you the piece of mind that your information is safe with Coinbase Pro and not subject to being compromised? I have a paypal account and see that I am able to buy crypto in Paypal. Does anyone here use paypal to own crypto?

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Does anyone here use paypal to own crypto?

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I bought $500 of BTC on Paypal back in early January, just because I couldn't get verified on Binance or Coinbase and I had a little FOMO going on. It's still sitting there, hovers between $700-$800. I can't move it, just basically hold it or sell it.

I am verified on Coinbase Pro, and now that's where I do everything. Binance, for some reason hates me.

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I only keep an amount on exchanges that I am comfortable losing. Once I get to a certain amount, I start transferring to a physical wallet.

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i want to play devil's advocate for a moment. let's say the market tanks, and you want to get out your profits before being in the negative. by the time it takes to make all of your transfers from your cold wallet to your exchange, you could already be in the red. so i feel like you're more prone to lose money that way than you are if an exchange gets hacked.

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i want to play devil's advocate for a moment. let's say the market tanks, and you want to get out your profits before being in the negative. by the time it takes to make all of your transfers from your cold wallet to your exchange, you could already be in the red. so i feel like you're more prone to lose money that way than you are if an exchange gets hacked.

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I see your point and welcome the education on the subject. I guess for me, I'm in it for the long haul and not worried about the drops, to a point. I guess I could go in the red if we had a spectacular crash and I was out of town and away from my Ledger, but for me that is less of a concern than trusting my stuff to an exchange. Say I have everything on Voyage, then the app crashes when there is a big sell-off, then I'm still screwed. At least with a physical wallet I can transfer to a working exchange and get my stuff out.

Like I said, I'm not as well versed as some of y'all, so I could be off base here. I enjoy reading this thread and learning.

I personally hedge 50/50 cold wallet versus hosted on an exchange. When in doubt cover all your bases I guess

Tom Brady with the laser eyes twitter profile pic...

1.Anyone bought any Hex? at $0.045 right now. Up $0.02 in the last month or so. Hovering around top 10 market cap.



2. Also, has anyone heard about the ethereum fork called Pulse? if you have ERC20 tokens in a decentralized wallet (metamask, etc.) you will get an aidrop of those coins onto the new Pulse chain.
Pulse will be faster than Ethereum and penny fee's.