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Author Topic: Hello! newbie here (wallet)  (Read 61 times)
luckydevil2021
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June 21, 2018, 11:07:10 PM
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I'm very new with cryptos and wanna ask, is safe to store all your cryptos in a universal wallet like coinbase? thx!
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June 21, 2018, 11:21:36 PM
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It is not safe to store your wallets on an exchange(like coinbase) because they can shut down anytime and run with your money. I suggest you use software wallets at least like electrum or a hardware wallet in order to be safe. If you don't want to go through the hassle of setting them up though, any wallet that gives you control over your private key will also be fine so long as it can be imported to another wallet.

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June 21, 2018, 11:41:53 PM
 #3

As a start I am using https://www.myetherwallet.com/.  It is very handy and also ER20 kind of ETH wallet.
As you learn more about the cryptoworld, I suggest to move to hardware wallet.
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Azima85
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June 22, 2018, 12:53:43 AM
 #4

I'm very new with cryptos and wanna ask, is safe to store all your cryptos in a universal wallet like coinbase? thx!

Just to be clear..Coinbase is not a wallet, it's an exchange that has its own wallet..they may take all your coins and run away..of course Coinbase is probably trustworthy, but they may get hacked for example like we hear very often with other exchanges. Best thing is to keep the coins you are not actively trading in a wallet (hardware, software, paper)..and the ones you trade more often, you could leave them on exchanges.
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June 22, 2018, 01:29:16 AM
 #5

I'm very new with cryptos and wanna ask, is safe to store all your cryptos in a universal wallet like coinbase? thx!
Coinbase is not a wallet, it's an exchange. Exchanges are not safe to keep store your coins. Because your private key owns the exchange. You can buy a good hardware wallet like Ledger Nano S to store your coins. If you can't buy a hardware wallet you can go with desktop wallets.

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June 22, 2018, 02:14:20 AM
 #6

It would be a risk to save all your cryptos on coinbase, coinbase is an exchange site and they can go solo with your crypto anytime or even get hacked.. I might recommend https://www.myetherwallet.com but i don't use my etherwallet because they are also prone to be hacked even though not easily, i make use of wallets like imtoken and blockchain wallet.. These ones are purely safe,your mnemonic phrase and private key cannot be hacked except you give them out
  Smiley
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June 22, 2018, 02:29:56 AM
 #7

Read:

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June 22, 2018, 04:35:07 AM
 #8

It doesn't matter what kind of security is offered by the web Wallet service providers. It is always recommended to hold your coins in your offline wallet whether it is a paper wallet or hardware wallet. Crypto is all about self-responsibility and thus a user should hold himself responsible for the results. I would strongly recommend you to invest your time in reading the valuable topics before investing your money. Try to understand and learn what crypto technology is all about and how it works. Bitcointalk is definitely the best place to learn more about crypto, start with the sticky topics.

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June 22, 2018, 05:23:59 AM
 #9

It is not safe to store your cryptos in coinbase because its an exchange ... u do not have the private keys to that wallet. Its best if you create myetherwallet account and use it with metamask(google chrome estension). That way, your cryptos will be safe. Goodluck
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June 22, 2018, 05:59:06 AM
 #10

i am also new in crypto, but my little knowledge on this is that. there is hot wallet and there is cold wallet. hot wallet are the one you need internet and it is manage by a third part while cold wallet is like your token hardware where you generate code. however the latter is a little expensive. so i go for hot wallet like Imtoken where you can create multiple wallet which are ERC20 compatible or Coinomi. etc
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June 22, 2018, 08:29:57 AM
 #11

For beginners quite bad Myetherwallet .Easy to use. Be sure to save all the keys that you get when you open it. And note after filling bounty and airdrop on the mail can send a phishing site of the wallet and after the introduction of the keys will withdraw the funds scammers.Always check the website address (https://www.myetherwallet.com/). It is desirable to add the site address to bookmarks to use only it.
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June 22, 2018, 08:38:37 AM
 #12

Depends on your needs. If you wish to trade, you better keep them on exchange using 2FA
If you wanna cold storage you better choose hardware wallet, its much safer
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June 22, 2018, 08:40:28 AM
 #13

You can store any amount of your crypto's on exchanges like coinbase but if its "ALL" that's crossing the line.

Don't trust too much with your exchangers because if something happens to them, you don't have the private key and the lost coins you've got in there will not be able to recover.

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