Questions about buying, holding, staking altcoins

[Thementhor]

Thank you guys for everyone, I appreciate for the helps 

KaratX, so in your opinion multi-wallet for me is the best option, instead holding crpytos in their own wallet? If someone have 10-15 cryptos say....I just wanna make the safest move here, even if I start with small amounts.

[CashbackLover]

Thank you guys for everyone, I appreciate for the helps 

KaratX, so in your opinion multi-wallet for me is the best option, instead holding crpytos in their own wallet? If someone have 10-15 cryptos say....I just wanna make the safest move here, even if I start with small amounts.

One key for all the coins and tokens you own is better than having many keys from different wallets to protect I guess that's why KaratX recommend multi wallet, I would have said you should consider a hardware wallet but not all your coins will be supported, you can stake in trust wallet and atomic wallet, I believe these wallets supports those projects you are interested in

[bassbity]

Newbie, as I know, Binance was hacked one time before, and coinbase too.

I welcome you to the forum

many may have provided you with insight, and that is far more than enough if you really understand all the answers to your questions.
here I will only emphasize to you, that it is true that Binance has been hacked before, but Binance is a big platform, Binance will not stay idle if the system is threatened, they will fix every weakness from year to year. however, Binance is the platform responsible for the inconvenience of its users. You don't need to worry about trading there, the most important thing is that you always check your account regularly and keep your passwords in a safe place.

[FireBallex]

Binance exchange is the best place for new crypto users and traders, you don't have to worry about hacks or theft because binance team are capable of handling any threat, even if hackers managed to break down the exchange firewall they won't get away easier as binance can blacklist any address nowadays, they can easily return funds to users too

[Galley]

Welcome to the crypto world.

My questions are, that if I will buy it at Binance, should I open account for every crypto, or just one for all?

As long as all of those cryptos are supported and traded in Binance, you only need one Binance account.

And how about staking these planned cryptos, where should I stake them?

If Binance has that coin supported for staking and they have it on their feature, you can stake it on them. But most of the staking coins have their own wallet and you need to download and deposit it on that wallet.

Second thing, that I read something that every crypto has different blockchains, and when I wanna send one of my cryptos to my wallet, somehow it can be loss, because Ethereum can not be send to Bitcoin wallet? In this I totally confused, where I can send, where I can not, how can I lose my coins.

Thanks, best all.

That's right. Transactions must be done for every specific coin. Bitcoin for bitcoin, Ethereum for Ethereum. Take note of that. Always check the addresses and crypto that you're sending. You send Ethereum to an Ethereum address. Litecoin to Litecoin and so on.

It seems to me that for a start, this friend should have tightened up basic knowledge in the field of cryptography before starting to plan to buy any kind of coin. Based on what considerations he will choose the coins to buy. You need to understand basic things, and then make purchases in order not to regret what you have done in the future.

[Chuky92]

Hello guys.

I am newbie to the crypto world, and I read a lot of things about it, still I have unanswered questions, hope some of you can solve it for me.

Firstly, I am planning to buy two cryptos (Cardano, and VeChain), but later I plan to buy another ones, like crypto.com coin, RSR, or Zilliqua.

My questions are, that if I will buy it at Binance, should I open account for every crypto, or just one for all? And how about staking these planned cryptos, where should I stake them?

Second thing, that I read something that every crypto has different blockchains, and when I wanna send one of my cryptos to my wallet, somehow it can be loss, because Ethereum can not be send to Bitcoin wallet? In this I totally confused, where I can send, where I can not, how can I lose my coins.

Thanks, best all.

It is good you are asking these questions now before making mistakes. To begin with, Vechain and Cardano are good coins, as for the third I would prefer Zilliqa more. As a beginner, always focus on top 20 altcoins in coinmarketcap for now, the more you advance the more you learn about others and how to study them.
Talking about Binance; Opening an account on Binance will depend on the type of coin you want to buy, that is, a coin you might want to buy might be listed on another exchange instead of Binance, and also, you need just one Binance account to buy whatever coin you want. So, assuming you want to buy Ethereum, open account on Binance, fund it with BTC and buy or if your credit card is supported by Binance, you can use it to buy Ethereum after you are verified. Same also applies to any coin you want buy.
In the case of staking, it depends on the coin, some have staking features and others don't, so the best case is visiting the project's group and know more about staking, however, most exchanges like Binance also supports Staking and also, Trust wallet as well supports selected coin's staking.
In the case of different blockchains, it is true; Ethereum blockchain is different so is Tron blockchain and it goes on, but however nowadays we have multi-cryptocurrency wallets like Trust wallet, that is, the wallet supports Ethereum tokens, Bitcoin, etc. Therefore, to save Bitcoin for example, you get trust wallet from playstore, create a wallet and save the backup words, then open the wallet, you will see Bitcoin, click on it and get the wallet address, with it, you can send Bitcoin to it and store, same is applicable to others.

[Thementhor]

Chuky, best comment, thank you.

I had to admit, I thought about buying Zilliqua too, the project seems to be awsome, just want the best safest hot wallet in my hands. If it is Trust Wallet, then I will download this. Thanks.

I also interests in RSR, crypto.com coin, today these are the top5 altcoins with the lowest risk, and with possible high reward I think.

[abel1337]

Chuky, best comment, thank you.

I had to admit, I thought about buying Zilliqua too, the project seems to be awsome, just want the best safest hot wallet in my hands. If it is Trust Wallet, then I will download this. Thanks.

I also interests in RSR, crypto.com coin, today these are the top5 altcoins with the lowest risk, and with possible high reward I think.

If you are confident with your research so go for it, It's better to buy some assets based on your own research. Your research will become your stepping stone in the future that will make you conduct easier research as your experience pile up.

I am a user of trust wallet and haven't experienced any difficulties or problems using it.

Please also secure your backups in every wallet you use. It will become very handy in some situation.

[Thementhor]

Chuky, best comment, thank you.

I had to admit, I thought about buying Zilliqua too, the project seems to be awsome, just want the best safest hot wallet in my hands. If it is Trust Wallet, then I will download this. Thanks.

I also interests in RSR, crypto.com coin, today these are the top5 altcoins with the lowest risk, and with possible high reward I think.

If you are confident with your research so go for it, It's better to buy some assets based on your own research. Your research will become your stepping stone in the future that will make you conduct easier research as your experience pile up.

I am a user of trust wallet and haven't experienced any difficulties or problems using it.

Please also secure your backups in every wallet you use. It will become very handy in some situation.

What do you mean by backup securing? I had only 12 words, and some PIN code. What else should I use?

I also discovered in Trust Wallet exchange function. Does it mean I had not register to Binance, so I can instantly buy the cryptos in this wallet?

[articlecity]

Hello guys.

I am newbie to the crypto world, and I read a lot of things about it, still I have unanswered questions, hope some of you can solve it for me.

Firstly, I am planning to buy two cryptos (Cardano, and VeChain), but later I plan to buy another ones, like crypto.com coin, RSR, or Zilliqua.

My questions are, that if I will buy it at Binance, should I open account for every crypto, or just one for all? And how about staking these planned cryptos, where should I stake them?

Second thing, that I read something that every crypto has different blockchains, and when I wanna send one of my cryptos to my wallet, somehow it can be loss, because Ethereum can not be send to Bitcoin wallet? In this I totally confused, where I can send, where I can not, how can I lose my coins.

Thanks, best all.

Before buying any coins or investing in this market i suggest you to attain some basic knowledge about how everything works here especially the wallets, blockchains and exchanges. Soon you will be able to understand each and everything and become a good player in the market.

[InwardContour]

Binance exchange is the best place for new crypto users and traders, you don't have to worry about hacks or theft because binance team are capable of handling any threat, even if hackers managed to break down the exchange firewall they won't get away easier as binance can blacklist any address nowadays, they can easily return funds to users too

If you say Binance is the best place for newbie traders, I'll concur with you due to ease of trading and simple user interface. However saying there is no need to worry about hacks is baseless, there is need to be cautious about hacks when it comes to centralized exchanges. You don't just keep coins on exchanges for so long, using the exchange as personal wallet because anything can go wrong at anytime, I only send coins to exchanges when I need to trade not otherwise since all CEX can be hacked.

[Thementhor]

Binance exchange is the best place for new crypto users and traders, you don't have to worry about hacks or theft because binance team are capable of handling any threat, even if hackers managed to break down the exchange firewall they won't get away easier as binance can blacklist any address nowadays, they can easily return funds to users too

If you say Binance is the best place for newbie traders, I'll concur with you due to ease of trading and simple user interface. However saying there is no need to worry about hacks is baseless, there is need to be cautious about hacks when it comes to centralized exchanges. You don't just keep coins on exchanges for so long, using the exchange as personal wallet because anything can go wrong at anytime, I only send coins to exchanges when I need to trade not otherwise since all CEX can be hacked.

can i ask where you store your coins?

it seems trust wallet not support cardano, so i must avoid this wallet. Any opinions abou Exodus wallet?

[BurningChrome]

can i ask where you store your coins?

it seems trust wallet not support cardano, so i must avoid this wallet. Any opinions abou Exodus wallet?

I assume most of us keep our coins in some hardware wallet (usually Trezor or Ledger). This is one of the safer ways. A software wallet from a good source will suffice for smaller amounts (if a hardware wallet is not currently an option). Be sure to download only from official sources and learn how to verify signatures. If you plan to trade regularly or take advantage of some of the additional benefits given by the exchange, you will need to keep your coins in their wallet.

You know, you can move your coins from one wallet to another at any time? So any choice that you take doesn't have to be final.
For example, I have some of my coins in the exchange, some in the casino where I gamble, and a larger part on a hardware wallet that is used for long-term storage.

[Thementhor]

can i ask where you store your coins?

it seems trust wallet not support cardano, so i must avoid this wallet. Any opinions abou Exodus wallet?

I assume most of us keep our coins in some hardware wallet (usually Trezor or Ledger). This is one of the safer ways. A software wallet from a good source will suffice for smaller amounts (if a hardware wallet is not currently an option). Be sure to download only from official sources and learn how to verify signatures. If you plan to trade regularly or take advantage of some of the additional benefits given by the exchange, you will need to keep your coins in their wallet.

You know, you can move your coins from one wallet to another at any time? So any choice that you take doesn't have to be final.
For example, I have some of my coins in the exchange, some in the casino where I gamble, and a larger part on a hardware wallet that is used for long-term storage.

Hello BurningChrome,

As I know ledger wallet can store only 5 coins, which is quet low.

[Thementhor]

Can I ask, for how long is preferable hold cryptos?

[BurningChrome]

Hello BurningChrome,

As I know ledger wallet can store only 5 coins, which is quet low.

Actually, Trezor Model T supports 1631 different coins and tokens. https://trezor.io/coins/

And as for the Ledger wallet, this list contains 1,364 entries, which is very close to Trezor T.
https://www.ledger.com/supported-crypto-assets/

Ledger Nano S
Capacity
3 to 20* apps installed on your device, among 1.100+ compatible crypto assets
*depending on app size

Ledger Nano X
Capacity
Up to 100* apps installed on your device, among 1.100+ compatible crypto assets
*depending on app size

source: https://www.ledger.com/

[TheGreatPython]

My questions are, that if I will buy it at Binance, should I open account for every crypto, or just one for all? And how about staking these planned cryptos, where should I stake them?

You don’t have to create lots of accounts, you just have to find a good wallet that you will use in storing the coins, wallet like Exodus might be a good option as it allows you to store lots of different cryptocurrencies, unless you want to make use of Binance wallet in storing the coins you’re going to buying, though I don’t recommend an exchange wallet.

Then as for staking, if you buy crypto.com coin (CRO), it would be best to stake it on their website as that will get you more return on your staking, up to 18%. Check out their website to understand better.

[cryptonx]

Hello guys.

I am newbie to the crypto world, and I read a lot of things about it, still I have unanswered questions, hope some of you can solve it for me.

Firstly, I am planning to buy two cryptos (Cardano, and VeChain), but later I plan to buy another ones, like crypto.com coin, RSR, or Zilliqua.

My questions are, that if I will buy it at Binance, should I open account for every crypto, or just one for all? And how about staking these planned cryptos, where should I stake them?

Second thing, that I read something that every crypto has different blockchains, and when I wanna send one of my cryptos to my wallet, somehow it can be loss, because Ethereum can not be send to Bitcoin wallet? In this I totally confused, where I can send, where I can not, how can I lose my coins.

Thanks, best all.

just buy a hardware wallet such as ledger nano or trezor, if you have a plan to hold a lot of coins my friend
because you can store all your coins above in a hardware wallet and i think its safer

[Findingnemo]

Hello guys.

I am newbie to the crypto world, and I read a lot of things about it, still I have unanswered questions, hope some of you can solve it for me.

Firstly, I am planning to buy two cryptos (Cardano, and VeChain), but later I plan to buy another ones, like crypto.com coin, RSR, or Zilliqua.

My questions are, that if I will buy it at Binance, should I open account for every crypto, or just one for all? And how about staking these planned cryptos, where should I stake them?

Second thing, that I read something that every crypto has different blockchains, and when I wanna send one of my cryptos to my wallet, somehow it can be loss, because Ethereum can not be send to Bitcoin wallet? In this I totally confused, where I can send, where I can not, how can I lose my coins.

Thanks, best all.

You need to create only one account on each exchange but never deposit all your cryptocurrency under single address. There will be respective address will be available for each cryptos so make sure your are sending funds to the right address.

And the same thing with wallet as well, there are multiple cryptocurrencies support wallet available but each has different address for respective cryptocurrency.

[Ryker1]

Thank you guys for everyone, I appreciate for the helps 

KaratX, so in your opinion multi-wallet for me is the best option, instead holding crpytos in their own wallet? If someone have 10-15 cryptos say....I just wanna make the safest move here, even if I start with small amounts.

Well, you should have your own portfolio on this, --before I had been choosing Coinomi wallet for my altcoin and bitcoin wallet. This wallet supported many altcoins that you can able to store all your assets, it is also considered an open-source wallet because you are the one who controlled your private key. But one thing that I am disappointed with most about this wallet, the huge fees upon transferring your fund. Multi-wallet is the best option, but I suggest separate your bitcoin into a wallet that only stores bitcoin.