I want to put my Bitcoin on a hardware wallet, but...

[Bryansta]

what happens if I ever wanna buy? For example, let’s say BTC price jumps to 30k tomorrow but it only lasts for a few hours and it plummets back to 10k. Will I be able to sell it at all? How would I go about doing that? Would I have to transfer it back to some sort of exchange (like Coinbase)? How would I even do that?

[Cryptopher]

I'm not familiar with any of the recent hardware wallets, but I'd think that any hardware wallet worth its salt would require you transfer the coins to an exchange etc.

Hardware wallet is all about the hodl game.

[Lanatsa]

what happens if I ever wanna buy? For example, let’s say BTC price jumps to 30k tomorrow but it only lasts for a few hours and it plummets back to 10k. Will I be able to sell it at all? How would I go about doing that? Would I have to transfer it back to some sort of exchange (like Coinbase)? How would I even do that?

We know that its most likely an impossible scenario to happen where btc jump 30k tomorrow and then last only for few hours and goes back to 10k.

thats an obvious way on showing up extreme manipulation of the market. . Going back into your question..If you do want to sell? then you would basically need to transfer those btc
on that hardware wallet into an exchange btc aaddress.

Here are some informational vids that do connects out into your concern. https://www.youtube.com/watch?v=od61rhOvwnc

[freedomgo]

It's not hard to transfer your bitcoin into exchange from your hard wallet, owning a hard wallet will give you more security as you are not prone from hacking unlike when you just let your bitcoin sit an exchange. You can send from your hard wallet but just make sure you put enough mining fee so the transaction will be confirm faster, you know when there is a sudden pump, it will also result to congestion in the blockchain.

lastly, search in youtube, there are a lot of tutorials there.

[seoincorporation]

what happens if I ever wanna buy? For example, let’s say BTC price jumps to 30k tomorrow but it only lasts for a few hours and it plummets back to 10k. Will I be able to sell it at all? How would I go about doing that? Would I have to transfer it back to some sort of exchange (like Coinbase)? How would I even do that?

Well in that scenario you will have to send your BTC to the exchange to sell it for USDT, but you need them to confirm before the price crash. After buying USDT you have to wait for the crash and when that happens you have to buy BTC again with your USDT. The last step is to send the BTC back to your hardware wallet.

As i mentioned, the risk comes if your transaction doesn't confirm in the right time to ride the bump and dump.

[taufik123]

Saving BTC on hardware is a safer choice than having to store in an exchange wallet. You can sell BTC that you store in the hardware wallet by transferring it to the exchange you want to use, such as binance, coinbase or other exchanges.

When the BTC price jumps to $ 30k you should try to sell it and immediately transfer your BTC to the exchange. BTC price fluctuations are indeed very crazy, rising with high prices and falling very sharply.

[kawetsriyanto]

How long you think to transfer it to exchanges? Commonly, it won't take hours or even days. So, in this matter, you must have enough time to sell your Bitcoin once it is rising as you expected. But surely, you must choose big exchanges like Binance to make sure there are big buy-orders. If you choose small exchanges, I doubt you can sell all your Bitcoins. 

[Darker45]

Of course, you can always send it anywhere. That is yours, after all. It depends on how you would want to sell it. You can sell it through exchanges or through P2P.

Speaking of coinbase, however, the pattern has already been more or less established that every time Bitcoin pumps the site crashes. Whether it is intentional or not, I cannot be sure. But then if the price jump is very quick and the site is shutting down, you will have to look for other options. But there are hundreds of other exchanges, anyway.

[Yatsan]

We have USDT coin now so basically when the Bitcoin pump buy USDT and if it is going to dump then Buy bitcoin using USDT. In that way, you can still buy low sell high just using the built in exchange in your hardware wallet. This is also what I am doing when I am using Binance or Coinbase, there's no need to transfer your money into the bank USDT or any USD based cryptocurrency will do the job. 

There's a lot of app where you can integrate your hardware wallet there and trade. 

[mk4]

The point of using a hardware wallet is mostly for long-term storage anyway and not frequently trading, but you could simply fix this problem by sending your coins over to the exchange using a higher fee, so your transaction would hopefully be immediately confirmed by the next block.

If you're a trader, just simply leave a certain amount of money on exchanges and move the rest onto your cold storage.

[joniboini]

It depends on how quickly you can send your transactions and possibly how much money you can pay (even when the price doesn't jump that high, we can see a tx with 300 sat per byte fee). If a scenario like that does indeed play out, regardless of what wallet you use, there will be a race from everyone who wants to sell their coins asap.

Keep in mind that a price jump to $30k is unlikely to be followed by a drop to $10k within a day. So, depends on your luck and how much you're willing to pay, you can still make some profits if the price indeed jump that high.

In that way, you can still buy low sell high just using the built in exchange in your hardware wallet.

What HW has built-in exchange function?

[Reid]

So this is not a Bitcoin Discussion but more like Trading Discussion.

You haven't even bought bitcoin and you are already trying to think about selling it.
To answer your question you will have a difficult time proceeding with your plan.
Once the bitcoin price surge, transaction time goes longer and fees soar.
Then, there is confirmation from blockchain then the exchange.

If it will happen for a day then maybe you will have a chance.
For a hardware wallet, there is no exchange button there. It's not made for that.

[maxreish]

It's actually easy to get your bitcoin out of your hard wallet and transfer it to some exchange  and sell all of your bitcoin to your desired price if ever you wanna sell at peak. And yeah there are times that the bull run lasts shorter and will go back to the lower price but you can convert it to some stable coins so you are still ready if ever the price will go pump again and ready to sell it.
 
 To However, dont you use some technical analysis to assess the price? So you may know when to transfer your btc because timing is also significant for you to not left hanged.

[slapper]

what happens if I ever wanna buy? For example, let’s say BTC price jumps to 30k tomorrow but it only lasts for a few hours and it plummets back to 10k. Will I be able to sell it at all? How would I go about doing that? Would I have to transfer it back to some sort of exchange (like Coinbase)? How would I even do that?

Just try to make a higher transaction fee and I believe your coin will be on the exchange in less than 1 hour. I never use a hardware wallet before but I believe its easy for people to use. If its unable for user to send and withdraw fast, no one will use it. Just try to find out your answer on the internet, there might be some places that teach us how to accelerate your transaction speed

[NeuroticFish]

With a hardware wallet, with the right fee (which may be a bit pricey), the coins go back to exchange in less than 20 minutes.
But I don't see in the OP the questions "what if the exchange gets hacked?" or "what if my account at the exchange gets hacked?"; the probability of these to happen is much higher than Bitcoin falling from 30k to 10k in a few hours.

[Debonaire217]

Not a good idea if you expect a good output in just a matter of hours. Sometimes, doing transaction in bitcoin requires more than an hour for each transaction to be fully verified. Why not transfer your funds first to an established exchange first then wait and be prepared? Though, if you will wait for a long time, I advise you to store your funds in your hardware. But one thing I noticed is the bitcoin market being so unpredictable, sometimes it just plummets too fast so maybe the best thing to consider is to put some funds in your hardware for long term investment, might as well consider putting funds in exchange in order for you to be ready for short term fluctuations.

[bitbunnny]

It's not hard to transfer your bitcoin into exchange from your hard wallet, owning a hard wallet will give you more security as you are not prone from hacking unlike when you just let your bitcoin sit an exchange. You can send from your hard wallet but just make sure you put enough mining fee so the transaction will be confirm faster, you know when there is a sudden pump, it will also result to congestion in the blockchain.

lastly, search in youtube, there are a lot of tutorials there.

Bigger safety, less convenience that we might say for hard wallets. However, from my point of view safety it's the most important and many are not aware of that untill something bad happens.
No matter the hard wallet, my advice is always split the coins into multiple wallets of different types, thus is security even better. Just to avoid online wallets. You can then combine wallets according to your needs.
Just for tge record it's not likely that Bitcoin price will jump to 30000$ over night.

[mk4]

In that way, you can still buy low sell high just using the built in exchange in your hardware wallet.

What HW has built-in exchange function?

I think he's talking about the exchange "feature" of Trezor, that's just pretty much affiliate marketing on a better UI/UX. It's still on-chain though, so you'd still need to wait for the transaction to confirm.



Screenshot from https://trezor.io/

[fiulpro]

I do think if you thinks about this , you would have a 30 minutes time window for the transferring of coins from your hardware wallet to a normal exchange.

Plus you should always remember that it can sometimes take upto days if there is problem with the network.

Therefore if you are thinking about security options and thinking of selling when the price is high , you have to actually choose one option , either super security or either selling when the time is good .

I do suggest you should find a nice offline wallet which also works as an exchange and then store your coins there , uninstall all the fishy softwares from your mobile and be very careful VERY !

You can very easily find how you can protect your wallet from any theft , try and search about that .

Other than that if you have excess money , you can just leave your Bitcoins in a hardware wallet as inheritance , who knows how high it will go ? .
HODL!!!!

[Lucius]

what happens if I ever wanna buy? For example, let’s say BTC price jumps to 30k tomorrow but it only lasts for a few hours and it plummets back to 10k. Will I be able to sell it at all? How would I go about doing that? Would I have to transfer it back to some sort of exchange (like Coinbase)? How would I even do that?

I think you are a bit confused with some basic things, because if you ask how you are going to send BTC from your hardware wallet to the exchange, then you have to learn some basic things.

However, I think you have asked one question that bothers many who are hesitant between security and the instant availability of their coins on the exchange for the purpose of selling and making a profit. There is no perfect solution, or the absolute security of non-custodial wallets or the risk of keeping coins on a crypto exchange.

After all, if there was such a sudden jump that the OP is talking about, then most large exchanges would become unavailable anyway because their servers would not be able to withstand it. We have seen this in the past, and we see it today especially in the example of Coinbase which crashes every time users start trading a little more than usual.