Oh!  Thanks guys!  I thought when it said create a new wallet, it was going to make me start everything all over again.  That was easy.

I have one 2 more questions please.  

1) Will I be able to add USDC to the bitpay card?
2) I have a bitpay mastercard.....did I have the option to create a bitpay visa card?

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?

[quote author=kram31 But anyway, why do you wanna track all these records anyway? Because, as long as you know that you are earnings at the price you bought, I think its enough, you don't need to make things hard for you.
[/quote]

Actually I am trying to make things easier for myself.  What you're saying is true if you make only a few transactions, but if you're constantly buying crypto at different amounts and at different prices how else are you going to know if you're taking a profit or a loss on your trades and how much of a profit/loss?  Granted if you made numerous transactions on bitcoin when it was $10k - $20k, you know you are definitely ahead of the game.  But what if you are made numerous trades when bitcoin is in the $55k - $60k range?  The price fluctuates so much so it would be nice to see your average costs/profits/losses/fees.  Blockfolio is what I was looking for.  It makes it easy to just look and everything is calculated.

Dudes.  Thanks a lot.  Blockfolio is exactly what i needed.  I have a question for all you experienced Blockfolio users.  I painstakingly went through all my transactions like a fine tooth comb.

After all said and done, my profit is ahead of the game, but my "net cost" and "average net cost" show as negative numbers.  I really took my time and I don't think I made  any mistakes but in the beginning of inputting transactions, the "net cost" and "average net cost" were showing as positive numbers. 

If it is in fact a mistake, there are so many transactions that I wouldn't even know how to find the delinquent at this point.  If it's correct, I guess its a great thing. 

1) Is this normal? 
2) Does anyone else's show negative? 
3) Also does anyone else's Blockfolio app get laggy?
4) Are there any apps that let you import a CSV file so I can cross check quickly?  Unfortunaltely Blockfilio does not have that option.

Thanks.

Dudes.  Thanks a lot.  Blockfolio is exactly what i needed.  I have a question for all you experienced Blockfolio users.  I painstakingly went through all my transactions like a fine tooth comb.

After all said and done, my profit is ahead of the game, but my "net cost" and "average net cost" show as negative numbers.  I really took my time and I don't think I made  any mistakes but in the beginning of inputting transactions, the "net cost" and "average net cost" were showing as positive numbers.  

If it is in fact a mistake, there are so many transactions that I wouldn't even know how to find the delinquent at this point.  If it's correct, I guess its a great thing.  

1) Is this normal?  
2) Does anyone else's show negative?  
3) Also does anyone else's Blockfolio app get laggy?
4) Are there any apps that let you import a CSV file so I can cross check quickly?  Unfortunaltely Blockfilio does not have that option.

Thanks.

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.

Oh ok thanks, i see how to add the account now.  Thats great!  When you say you can also create multiple accounts from "different" recovery phrases, you mean adding a separate wallet, correct?

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.

I do use Coinbase, but they don't offer a lot of other coins.

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.

Thanks guys.  Well I dont feel comfortable sending a wire to a foreign country thats for sure.  So basically I've been using coinbase.  My problem is that once I transfer money from my bank account to them, i then buy bitcoin.  My problem is that, even after my money is withdrawn from my bank account, they still will not let you withdraw the bitcoin for 10 days.  A lot can happen in 10 days....EMP, Site Hack, etc., so its scary waiting.  Have you seen what happen to livecoin?

By the way,  whats KYC?

Well does anyone know any other legit exchanges that dont hold for so long?  

The only other option I see is to buy crypto with credit card to protect yourself and maybe you can withdraw it instantly.  Does anyone know any exchanges that accept credit card?

What is a mnemonic?  You mean the word seeds?

Can you explain the ledger hack and how you were exposed?  I'm interested because I purchased the nano x and want to make sure to protect  myself.  

Also, I'm no expert, but if you got hacked, why would you want to buy from Amazon and not directly from ledger?

My ledger live app is telling me i need to update firmware on the device.  Is that safe to do?  How do I know thats not a hack in itself to get your orivate key?  

I have crypto, if I update firmware, is it ok to update while coins are attached to the wallet?

When I set up my nano x, i turned it on without the live app and it generated a recovery phrase.  I assume once you generate a recovery phrase this way, you wont be able to "restore an existing wallet" once you are on the app cause you already generated a recovery phrase to that device?  Is that correct?

Not to hijack the thread, but to add to it with a few questions. 

1) If you get a new device and use your old device's recovery phrase on the new device, what do you do with your new device's recovery phrase?  Do you keep both recovery phrases? Or which one to keep?

2) Can't you just send the crypto to the new wallet instead?

3) Someone mentioned resetting your old device back to factory defaults and selling it.  Does the resetted device generate an entirely new recovery phrase, or the same one?  I personally wouldnt buy someone's old device.