Nice Hash

[Bonzowh1]

Is my Nice Hash address that I use to store my balance SAME as my BTC address Please advise

[1715495799]

1715495799

[1715495799]

1715495799

[1715495799]

1715495799

[Xynerise]

Yes, it is, but you are not advised to use it to store large amounts of coins as you do not own the private key to the address,NiceHash does, and if they are hacked (like they were before) then your bitcoins are gone.
It is far better to use a wallet where you have the private key or seed phrase.
Pick a wallet from here and use: https://bitcoin.org/en/choose-your-wallet
Make sure you save the seed phrase securely.

[Bonzowh1]

Thank you for replying. I will do that.  As for BTC I transferred to Coinbase was this a good choice ?

[bob123]

As for BTC I transferred to Coinbase was this a good choice ?

No. Not really.
Did you visit this (https://bitcoin.org/en/choose-your-wallet) link?
Its all explained there.

Coinbase is not a wallet. Its an exchange.
Its less secure than a web wallet and far more expensive (high withdrawal fees).

You should just switch to a wallet where you have the control over the private keys.
If you are just looking for a light weight wallet, go for electrum (https://electrum.org/#home).

[Bonzowh1]

Thank you for replying. I have done as advised and got a electrum wallet. You advise sending my balance's from Coinbase and Nice Hash to this wallet NOW ? Sorry for my ignorence I am New to all of this.

[Lassie]

Thank you for replying. I have done as advised and got a electrum wallet. You advise sending my balance's from Coinbase and Nice Hash to this wallet NOW ? Sorry for my ignorence I am New to all of this.

Yeah sure, actually any time you want you can do it but it is best if you do it right now because you should have full control over your bitcoins from the moment you recieved/bought some coins. We will never know what possibly can happen to coinbase and nicehash that will affect you, worst case is if they got hacked your bitcoins will be stolen too

[castiel0504]

Nincehash==Coinbase. There are speculations that after CEO stepped down. Coinbase jumped in to help them recover their service, and after that their internal network has been connected(NH wallet to CB  wallet for free). Coinbase is exchange and everything is based on IOU(I own you) logic. If you don't control private keys bitcoins arent yours. So just try to get some cold or hot wallet(mobile phone, or hardware wallet, and you will be safe).

[Bonzowh1]

Thank you for your reply.  I just transfer 50euro from my coinbase account to my new Electrum wallet But only 5.56 showing up in my balance history, does anyone explain please

EDIT.


I think everything is ok, just my knowledge of all this is so basic.
Thank you all that replied to my Questions, much appreciated.

[BitMaxz]

Thank you for your reply.  I just transfer 50euro from my coinbase account to my new Electrum wallet But only 5.56 showing up in my balance history, does anyone explain please

EDIT.


I think everything is ok, just my knowledge of all this is so basic.
Thank you all that replied to my Questions, much appreciated.

I think if you install the electrum in the first time your bitcoin unit in your balance is mbtc, You can change the base unit into btc.
to change the base unit from mbtc to BTC follow this step below.
First open electrum go to tools>preferences>appearance tab> then change base unit to BTC you will see that your balance will change into 0.00556 btc something..

[gloriam5]

not quite understand the question(

[binting]

Is my Nice Hash address that I use to store my balance SAME as my BTC address Please advise

Well i think yes beacuse if your hash is nice, im glad to thank and glad to recognize that hash is very nice and wonderful for investing a balance and use for buying a important things.