bitcoin

HildoSpur

Likes Erik Lamela, deal with it.
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Oct 1, 2005
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Many options mobile wallet, hardware wallet or paper wallet. Any preferences?

Personally unless you’re sitting on a lot I would just keep it in coinbase.
If you have got a decent amount of coins I highly recommend getting a hardware wallet - You should never keep all your coins on an exchange - even coinbase imo. You can get a ledger nano S for about £60 and it's worth it.
 

felmani26

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Jan 1, 2008
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If you have got a decent amount of coins I highly recommend getting a hardware wallet - You should never keep all your coins on an exchange - even coinbase imo. You can get a ledger nano S for about £60 and it's worth it.
Is that effectively like backing it up onto an external hard drive?
 

HildoSpur

Likes Erik Lamela, deal with it.
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Is that effectively like backing it up onto an external hard drive?
In a way, though it uses bank level encryption and ensures that you have control of your private keys rather than an exchange or software wallet. It essentially takes your coins off-line and safe.
 

Speedy

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Joined
Oct 22, 2005
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642
In a way, though it uses bank level encryption and ensures that you have control of your private keys rather than an exchange or software wallet. It essentially takes your coins off-line and safe.
Paper wallets are really easy and free, you just make your own and print off and put in a safe or something. You enter the address in a block explorer and bookmark it, so you can see your balance and send funds to it online. However, I prefer the usb in some ways because I feel like paper wallets are single use and stick is a bit more advanced.

Not much in it, as long as your laptop has no bugs or spyware its all good
 

Rob

The Boss
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Ah thanks, should have been obvious really.
That's not quite right.

Fiat currency is currency that only has a value because it's guaranteed by the government issuing it, rather than being linked to and underpinned by a commodity with real value (like gold). USD used to be linked to gold so wasn't a fiat currency but they changed that a few decades ago.
 

neilp

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Jul 9, 2007
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So, can I move my bitcoin money straight from Coinbase to Bittrex and then use that value to buy the smaller stuff?

I’m sorry for asking lots of questions but want to understand what I’m actually doing.
 

UncleBuck

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Aug 20, 2003
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5,756
Okay, strap line on here for crypto, seriously thinking about purchasing but haven’t got a clue what to do, any advice chaps?
 

HildoSpur

Likes Erik Lamela, deal with it.
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Oct 1, 2005
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Paper wallets are really easy and free, you just make your own and print off and put in a safe or something. You enter the address in a block explorer and bookmark it, so you can see your balance and send funds to it online. However, I prefer the usb in some ways because I feel like paper wallets are single use and stick is a bit more advanced.

Not much in it, as long as your laptop has no bugs or spyware its all good
True, I jus
So, can I move my bitcoin money straight from Coinbase to Bittrex and then use that value to buy the smaller stuff?

I’m sorry for asking lots of questions but want to understand what I’m actually doing.
Yep thats it - on Bittrex you buy alt-coins with your bitcoin.
 

sly1

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Sep 25, 2004
Messages
301
That's not quite right.

Fiat currency is currency that only has a value because it's guaranteed by the government issuing it, rather than being linked to and underpinned by a commodity with real value (like gold). USD used to be linked to gold so wasn't a fiat currency but they changed that a few decades ago.
True. But in this context ("you can't but many cryptocurrencies using fiat"), I think he just means normal "bank account" currencies - not that it makes a difference whether the currency is pegged to a particular standard.
 

Led's Zeppelin

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May 28, 2013
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3,614
I'm far from convinced about the ethics of Bitcoin, in that it is purely about wealth detached from productivity isn't it?

On the other hand, there are probably more important things to worry about.
 

olliec

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Jun 20, 2012
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973
So, can I move my bitcoin money straight from Coinbase to Bittrex and then use that value to buy the smaller stuff?

I’m sorry for asking lots of questions but want to understand what I’m actually doing.
Yes you can
 
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