Already pulled my stuff out of Coinbase the other night. I've trusted them even less since a few months ago when suddenly one day it took 11 hours to transfer LRC out of there when days before it took minutes. It became apparent that they were internalizing a lot of orders and until you transfer out you don't actually have any coins and they got caught short not having enough on hand having to get them from Binance.
Yep, get a hardware wallet or at least a non-custodial software one where you hold the private keys so you can regenerate it from the phrase. Spread out over a few wallets if you can so it's not all in one place.
There really isn’t an analog to your GME/ComputerShare example (but why even buy GME that way? Unless you hold the physical certificate or your ownership is written in the corporate books, ComputerShare still holds it under their street name)
Anyway, with Crypto it works differently — when you purchase crypto through an exchange such as Coinbase, the way you truly hold or own your crypto is to transfer it off the exchange and into your own ‘wallet’. This is called ‘cold storage’.
BUT, before you get into this, please do your research and learn about it. A mistake made, such as sending your crypto to the wrong address because you spelled it wrong will mean you lose it forever.
There are many exchanges or app based crypto platforms out there to get you started, however I would suggest something like a Coinbase Pro or FTX.us.
Already pulled my stuff out of Coinbase the other night. I've trusted them even less since a few months ago when suddenly one day it took 11 hours to transfer LRC out of there when days before it took minutes. It became apparent that they were internalizing a lot of orders and until you transfer out you don't actually have any coins and they got caught short not having enough on hand having to get them from Binance.
Yep, get a hardware wallet or at least a non-custodial software one where you hold the private keys so you can regenerate it from the phrase. Spread out over a few wallets if you can so it's not all in one place.
If you're worried about losing your phrase I recommend these stainless steel seed boards, even a house fire wouldn't get hot enough to damaged it. https://shop.safepal.io/products/strong-safepal-cypher-strong
Cold Storage my fren, cold storage.
I am ignorant on how to actually buy crypto and hold it.
I want to buy it like how I buy GME directly from ComputerShare do you have any information that could help me.
There really isn’t an analog to your GME/ComputerShare example (but why even buy GME that way? Unless you hold the physical certificate or your ownership is written in the corporate books, ComputerShare still holds it under their street name)
Anyway, with Crypto it works differently — when you purchase crypto through an exchange such as Coinbase, the way you truly hold or own your crypto is to transfer it off the exchange and into your own ‘wallet’. This is called ‘cold storage’.
BUT, before you get into this, please do your research and learn about it. A mistake made, such as sending your crypto to the wrong address because you spelled it wrong will mean you lose it forever.
There are many exchanges or app based crypto platforms out there to get you started, however I would suggest something like a Coinbase Pro or FTX.us.
Coinbase is has already been known to be bitch mode.
Be careful you are not being herded
We know what's going to happen.