I have a hard wallet already.  I'm just using bitpay to buy things easier with bitcoin.  Unfortunately their customer service is non-existent.  Instead they list a bunch of topics that are answered, and I can not find the answer to my question.

When I first set up my bitpay wallet, it asked to choose which crypto currencies I wanted.  I chose Bitcoin and XRP since that's all I had at the time.  Now I want to add different coins and can not figure out how to do this for the life of me.  I'm basically trying to add USDC with no luck.  Actually I am having no luck even adding any other crypto to the wallet.  I just cant find the option.  Wtf?

What's your experience?  I heard they only report to IRS if it's only transactions of $20,000 or more and more than 200 small transactions per year.  Is this conjoined with one another?  Like what if you only do over 200 small transactions, but never did a $20,000 transaction, would they still report?

Also, when you fund your bitpay card, can you fund it from your cold wallet like a ledger instead of leaving all your crypto in their wallet?  Thanks.

Will I be able to add a separate bitcoin account on ledger live?  I know that you can add another nano device, but I am talking about just another bitcoin account with a separate address attached to the same ledger live and wallet.  I have the nano x.

If so, how is it done and can I do this with other cryptos? Thanks.

Just something I'm confused on.  I used "changenow" because I couldn't seem to find a way to purchase a certain crypto because I am in USA and/or NY.  So the only way I know is to purchase USDC with USD, then go to "changenow" and exchange the USDC for the crypto of choice.  My question is, why do you get so much less crypto in return when exchanging crypto for crypto vs buying with USD?  Im talking about 25% - 30% less crypto doing it this way.  This is insane considering USDC to USD is equal.  I think they also do this when exchanging any crypto for crypto.  What gives?

I use coinbase which works good for me, but now I am interested in other coins that they dont offer.  Since I am a US citizen and from NY, a lot of places dont accept USD coming from here, but they will from a abroad.  I tried a debit card visa with no luck.  Furthermore I found a place that will do exchanges for the coins I want, but you get a lot less coins this way for your money.  So I guess my question is, how are you guys doing it?  I'm hitting a wall here.  Thanks.

Hey guys.  I'm not sure how to ask my question but this is regarding Ledger Live or Coinbase.  So let's say I buy $100 worth of bitcoin and send right away to my Nano X wallet.  On Ledger Live it shows the bitcoin balance and the US dollar conversion.  I only did a one time purchase and deposit of $100 so anything above or below $100 is easy to read and I know if I had gained or lost as bitcoin fluctuates.

But what happens over time with numerous purchases at different amounts and different bitcoin prices?  After numerous deposits to my wallet, how do I quickly see if I'm ahead or behind without going back to coinbase and adding up every single purchase and comparing that amount to the ledger live balance?  Instead, all it shows is the balance.  If I was to purxhase another $100, it just lumps it all together.  I have the same question if I was to leave my bitcoin on the Coinbase exchange.  I guess what Im asking is how do I know the total of my original investment?

It would be nice if on every deposit, you had the option to input what price you bought at and how much you purchased so that everything is automatically calculated whether you are doing good or bad.  Then it can show you a percent gain or loss since you started. I may be not seeing something here, but it seems to be an important option tool thats missing from Ledger Live and/or Coinbase.  Thank you

Hello,

One thing i dont like about coinbase is that your crypto has to sit on their exchange until it clears before you can send it to your cold wallet.  Correct me if I'm wrong, but it looks like you can connect your ledger nano x directly to bitswapdex.io through the ledger app. 

1) Is this safe to connect your wallet right to their site?  Anyone do it this way?  After i hit the connect wallet button in bitswapdex.io, it opens my ledger live app. I like the idea of buying crypto and having it sent directly to my wallet, if this is whats happenning here when i push the "connect wallet" button.  Anyone familiar with this how ot works?
2) I assume if i want to trade directly from my ledger nano x, i can not have usd on my ledger, but rather i can buy more cryoto with USDC?  Is this correct?  I wouldnt want to trade my crypto, so I would have to use usdc right?  But then i run into the same problem with coinbase because i would have to transfer usd to them, buy the usdc, wait for the funds to clear, then send to my ledger.  Any ideas on this?

3)  Ive been contimplating whether or not the ledger nano x is the safest wallet after reading about cold wallets on bitcoin.org.  As for transparency, ledger nano x doesnt have any with its closed source coding, which no one can verify if the manufacturer has any secret things on the device that could jeopardize your money.  On the other hand, devices like Keepsafe, and Trezza and Bitbox, are open source, but Ive been reading that open source has its downfalls as well because most of the time manufacturers use 3rd parties for the coding for their devices and never really check to see if the 3rd parties may have installed malicious code.  For example, code that can empty your wallet at a future time and date and send your crypto to another address.  What do you guys think about this?  Am i in good hands with the ladger nano x?  Im nervous about which wallets to use, open or closed source.

Thank you.

So lets say you purchase 1 bitcoin at $1,000 from coinbase.  You then transfer the bitcoin to your own
Ledger wallet.  Maybe 10 years later its worth $50,000.

I know according to the IRS you "should" pay tax on the gains, but how do they know you still have it.  For all Coinbase and/or the IRS knows, you bought it at $1000 and sent it to a bitcoin address or the wrong bitcoin address at the same worth of $1000.  After that, Coinbase and the IRS dont know if you gave it away or even lost it at that price. 

So at this point, its invisible, correct?

So as long as you buy bitcoin, transfer to your wallet right away, and hold there, you're good, right?

And am I correct in thinking, even 10 years later if you tranferred the 1 bitcoin back to Coinbase, they cant simply report to the IRS about this, correct?  Hiw is there anyway for them to know where that 1 bitcoin came from.  For all they know at this point is that you couldve purchased this 1 bitcoin at $50,000 2 days ago and transfered there.  Who is to say you made money off of it and it was the same bitcoin you bought 10 years ago?

Do you see what I am getting at?  Can somebody please explain?  Thank you.

Hey guys.  I usually buy/sell crypto on Coinbase, then transfer back to my ledger nano X eventually.  If i wanted to sell, I usually send it back to Coinbase.

I know that ledger live has their own exchange partner(Coinify) and I was wondering what everyones thoughts were on Coinify.  Originally i was going to purchase bitcoin directly from the ledger live app this way, but it was a little scarey because they wanted me to wire money to Coinify's bank in another country.  I know in a sense its kind of like the same thing when i send money to Coinbase, but it just seems a little more simple and reassuring with Coinbase, seeing the instant balance show up instead of waiting days for a wire to be cleared with Coinify.

So, how do you guys/girls do it?  If I bought and sold from the ledger live app, whats the time frame to see your money?  Also it seems like wire fees are insane, $50.  My bank gives the option to send money in their(Coinify's) currency and its a lot cheaper, but didnt know if it would be accepted in anything but USD when buying bitcoin from them.  Thank you for the help.

I was under the impression that if you buy (1) bitcoin, your bitcoin balance will always stay the same and read (1), but the worth will go up and down depending on which currency it's being translated in.  For instance USD.  The usd equivalent will go up and down but the bitcoin should read as (1) regardless.  Am I correct?

The reason i ask, is because on coinbase pro app, i am trying to withdraw my bitcoin and send it to my wallet.  During the withdraw process of how much of my bitcoin i want to send, I see my available BTC going up and down.  This makes it difficult because when I type in the available balance, two seconds later the btc balance goes down and says insufficient funds, and it wont let me send.  But then 2 seconds later, it goes up again.  Wtf is going on?

Hello.  I've been doing a lot of reading on setting buy/sell limits, and buy/sell stop limits.  I understand what these settings do for the most part, but I have questions about having the settings work properly in conjunction with one another, or if they interfere with eachother.

For instance, let's say I only have $1000 and the market price for bitcoin is $1000.  I buy $1000 worth.  Now, I want to make a $1000 profit, so I set a (sell limit) at $2000.  So the market price goes up to $1900, but then it starts to fall and is on its way down.  I set a (sell/stop limit) at $1500.  If the market reaches down to $1500, that will trigger a sell, so I'd end up with a $500 profit instead.  I believe that's what the sell/stop limit is for, correct me if I'm wrong.

My questions:
1) After I purchase at the $1000 price, can this sell/stop limit setting be set right away, or should it be set after the market climbs past the $1500 mark, to work properly?  What I am asking is, if I set the stop limit at $1500 while the market is still only at $1000, will it trigger a sell while it climbs up toward the $1500 sell/stop setting?  I do not want it to do this because I want it to reach the $2000 sell limit if its climbing.  Or does it not matter?

2) Am I correct in thinking that "buy"/stop limits work the same way as sell/stop limits, but in reverse?  So if I wanted to buy when the market reached $500, I would set a buy/limit at $500 and a buy/stop limit at maybe around $700?

3) Sometimes I see the term sell/stop "loss".  Is that just another term for sell/stop "limit"?

4) Now that I spent my only $1000 and have no funds left in my coinbase pro usd account, will I still be able to set all 4 settings? (- buy limit, - buy/stop limit, - sell limit, and - sell/stop limit)

Thank you for any help you can offer.

Hello all.  I currently own a Nano X.  I use the bluetooth feature to receive crypto on ledger live.  I understand all this device does is hold the private key that allows access to the blockchain to move coins around.

That being said, I've noticed that the Nano X generates a new address when receiving bitcoin but with other crypto, the address stays the same for each other crypto.

Anyone who is familiar with receiving crypto on the Nano X/Ledger live, knows that when you go through the steps to receive crypto, it asks you to approve that both addresses match on your device, and on ledger live. 

Thats great and all BUT,

My questions:

1) Since the receiving address, let's say for Ethereum, is always the same, what would happen if you send Ethereum from coinbase to that same address the next time, with the Nano X "powered off"? 

What I am getting at, is how can we be certain that ledger live is not simply displaying your crypto balance and acting as an exchange like coinbase does, and using their own private keys to manage your crypto, and not actually going through the steps to have your private key access the blockchain?

Has anyone ever actually tried receiving crypto with the device off?  In doing so, if the transaction displays in your ledger live balance still, that would tell me that it's doing just that, only displaying your balance and not needing your private key, which is scary, kind of like how coinbase does.

I appreciate if anyone can clear this up for me.  Thank you for the help.