coinbase

[legend018]

Do people actually use coinbase to say make it easier to get your coins and then just transfer right way to your other more secure wallets (desktop or hardware for examples)? Or is that a silly strategy?

[RGBKey]

Do you mean using coinbase as a wallet, or as a way to buy coins for fiat? Plenty of people use it as both although it is heavily advised to not use an online exchange as a wallet.

[legend018]

I was thinking more of a temporary wallet to make it easier to get the bitcoins in the first place. Then transfer as soon as possible to another more secure wallet. Does that even make sense? In my case, I would probably just hold onto the coins for now. Plus I'm not dumping a lot of money into it at the beginning. Mostly just playing.

[RGBKey]

Well coinbase is very widely used, but personally I think Gemini has been a better experience for me. Less fees, and free to send out of the exchange.

[legend018]

From some of my research, it's not exactly easy to buy bitcoin without taking a big risk that someone is going to run away with your money.  Not to say the exchanges don't have risks and I know it has been advised to look into escrow services (which by the way I'm gone to the list and emailed two of them with no response so not sounding super easy to get an escrow service established).

So I just had a thought and I'm sure I'm not the only one. Since I'm always hearing how easy it is to get established with bitcoin and getting coins through them - so you can use them as a super temporarily way to get your coin and then transfer it?

[RGBKey]

Escrow won't be able to help you with the big exchanges. Exchanges are the necessary "on ramps" that let people buy Bitcoin. It's just advised to move your coins off the exchange as soon as you've bought them.

[legend018]

so far I've gotten the impression from some to stay away from online exchanges such as bitcoin, but I haven't really heard anyway state (but it doesn't necessarily mean you cant get bitcoin from them and then transfer) - ya know what I mean. Not sure if it's not talked about, something someone should figure out or decide on their own if they want to go down that road, or something that is sort of just common sense kind of thing.  Not sure if that makes sense.

Thanks for the feedback!!!