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Title: Noob asking where to store alt coins Post by: BirdDog711 on January 08, 2018, 09:22:38 AM Very new to crypto. I grabbed several different alt coins a few days ago to hold for the long run. My question to you is, what do I do with them. Where should I store them. I have TNT, Airswap, Sonm, TRX, and DNT stored on separate myetherwallets. I also have Dent and Digibyte still sitting on Kucoin, and Bytecoin at poloniex. The consensus from what I've read is I should definitely get the last 3 off the exchanges.
What do I do. Title: Re: Noob asking where to store alt coins Post by: DrYM on January 08, 2018, 09:27:09 AM Definitely get them out of the exchanges if long run is what you're after. MyEtherWallet is a good solution, as long as you have your private keys and passwords stored in a safe location. No point in having multiple MyEtherWallet accounts, you can have unlimited tokens linked to one account.
Title: Re: Noob asking where to store alt coins Post by: mrtryonebiggums on January 08, 2018, 09:33:11 AM 1000% should definitely take those coins off the exchange because as of now you don't control those coins and the exchange technically owns them. That is why it is in your best interest to take them off ASAP. Also you can store more than one coin or token in MEW you can store all your coins in one spot.
Title: Re: Noob asking where to store alt coins Post by: BirdDog711 on January 08, 2018, 09:34:16 AM Ok, so I should move all of them to 1 myetherwallet account.
My other questions then are: Can I transfer the 3 I have left on the exchanges, DENT, Digibyte, and Bytecoin even though I don't see the coin as an option in myetherwallet. And 2, will it cost me to transfer them from the other wallets to the single wallet. All help is greatly appreciated. I can learn so much from educated users on the forum quicker than finding out the hard way, like making costly mistakes. Title: Re: Noob asking where to store alt coins Post by: DrYM on January 08, 2018, 10:17:09 AM 1. Digibyte I store on a Ledger Nano S, which is a great way to store currencies, very secure.
2. I don't know DENT and Bytecoin. 3. Transfers will always cost you something, nothing in life is free. Title: Re: Noob asking where to store alt coins Post by: xindoa on January 08, 2018, 10:21:33 AM Most alt coins have there own wallets. so take a look at the site and see if you can download them. like most people say. don't keep them on the exchange you can never be sure
Title: Re: Noob asking where to store alt coins Post by: BirdDog711 on January 08, 2018, 10:26:44 AM Agreed. But that's part of what I don't understand. As far as myetherwallet, does it take a specific "gas" to move from it or does it charge you what you're moving, like TRX. From what I can tell, it's eth, right. I'm just confused on that part of it. Sorry about the ignorance on some of the basics.
Also, I looked at the ledger nano earlier today, but it looks like there's a 3 month wait on it. |