Useful Crypto Info

I've been seeing a lot of post lately with people being confused about how they move crypto between exchanges, wallets, etc. Thought I would help some of y'all.

Here's a good basic guide for you guys with pictures

If you are in a bind or are trying to transfer crypto quickly to binance you can completely skip funneling it through GDAX and just directly deposit it from coinbase into binance. Do not use BTC if you go this route or you're going to pay $30 in fees just to transfer the BTC. Use ETH.

Also I don't know how many of y'all use reddit but there's a ton of good information on there.These are just a few of the big ones but basically any coin that exist is going to have a subreddit devoted to it.

Ripple Subreddit

CryptoCurrency Subreddit

CryptoCurrencyTrading Subreddit

Bitcoin Subreddit

Bitcoin Markets Subreddit

Litecoin subreddit

Litecoin markets subreddit

Ethereum Subreddit

ETH Trader Subreddit


I'm no wikitiger but I'm know he would agree with me that you don't want to keep all your crypto on the exchanges. The coins that I'm planning on holding onto for years are on "paper wallets" that I have put into a safety deposit box. I also have a hardware wallet. Both of these can be intimidating to use at first but they have some great guides out there that you can use.

The above wallets are for long term storage, now for short term stuff and day trading you can use the wallets on the exchanges or a desktop wallet. Make sure you do your research before putting any coins into any type of wallet because some wallets only allow you to deposit certain types of coins into them.

It's extremely easy to just keep your crypto on the exchanges and while you may feel secure shite can and has happened in the past. If you don't know what Mt. Gox is, go look it up.

A quick story for you guys. I bought 20 bitcoin in 2011 at $31 a piece to fuel my fascination with the dark web and to see if I could really buy drugs with it. I didn't have the balls to get pure cocaine shipped from a stranger on the internet to my parents house on top of having absolutely zero fricking clue what I was doing and multiple failed attempts, I gave up. I wrote down the passwords to my wallet on an index card and moved on with life only to find myself joining the Marine Corps a few weeks later. After spending 4 years at Camp Lejune and a field trip to Afghanistan I EASed in 2015. I had completely forgotten about Bitcoin until I was watching the news one evening and saw it was trading at $300. I contemplated driving to my parents house to search for the index card I had stashed away years earlier in my childhood room. Well life happened again and I never made that trip to my parents house. Life moved on and I forgot about bitcoin once again until....

I saw that this stupid fricking coin was trading at $5K this past October. I started to panic because in late 2015 my parents moved out of their old home and so did my childhood room. I drove to their new house and spent hours going through boxes in the attic trying to find a single index card.....which I never found. Bitcoin started to trade at $10K and then onto $19k this past week. The thought of potentially having an extra $400K in income is truly sickening. It's turning my stomach into a knot just thinking about it. In reality the index card was destroyed in a trash landfill but I like to think some lucky bastard picked it up and sold my coins for a nice sum of money.

There's no way I could have never known bitcoin was going to be worth as much as it's worth today when I first bought it but cryptocurrency is still in it's infancy and there's plenty of money to be made for all of us. Morale of the story is don't be stupid when it comes to any of this but also don't be afraid to take risks. Investing a couple hundred dollars into new coins while they're selling on the cent could potentially be life changing money in 5-10 years.