I went big into Bitcoin and Ethereum...

[best123]

The site (exchange) is secure but if you want to hold it for a long time, I prefer you withdraw it out of exchange. I only keep assets that I don't want to keep for a long period.
When your order arrive, withdraw it to there. Thank is my take on this.

[777Jolami]

Hello Gang,
New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.

I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.

Thanks for any info!

Well, during the 2 years of crypto exposure of me, coinbase had a huge reputation and was favored for using a soft wallet that stores bitcoin, Ethereum.  Also, for 2-3 years period I haven't heard any news about coinbase being hacked.  Even today's favorite exchange, Binance, was hacked by hackers in May 2019.  And to protect your accounts and assets securely and carefully, use a hardware wallet.  That is my advice.  because no one knows whether coinbase will continue to ensure future safety or not.

[BaeSuzy]

I think it's depend, if you want to keep your asset for the short term i think coinbase is good for you. But if you want to invested for a very very long term maybe your own wallet is safer than exchange.

[MCobian]

Update Everyone,
I received my Trezor in the mail today.
I took my time and got it all set up correctly.
Not going to lie.. I was nervous about that even, hahaha

Then I sent over from my Coinbase account some small amounts of ETH and BTC
just to make sure everything was working right and I was doing it right.
I was even more nervous about that!

Soon after, I got the confirmations that these couple small transactions went smoothly and were in my Trezor wallet.

I then transferred everything from Coinbase to the Trezor wallet.
I am looking at my wallet and everything is there!

This is a big sigh of relief.
Thank you all for replying to my topic and the words of encouragement.
Now I just sit and hold what I have and keep investing into more crypto!

It is natural for you to be nervous because for the first time using Trezor, I was also nervous when I first used a hardware wallet. There is nothing
wrong with that, because it is perfectly normal for anyone. It's a good idea to try to send a small amount of BTC and ETH first, just to make sure
things go well. Also, when I first used a hardware wallet, I didn't send all my coins on exchanges at once. I did it gradually, it turns out that we have
the same thoughts. Because everything you do I've done. But I am sure that as long as you do it right, there should be no problem with
the transfer process from Coinbase to the Trezor wallet.

[Kittygalore]

Tho we can say that Coinbase is secured, but just like any other online wallet, it can still be hacked. I don't feel secured keeping my money online especially if it is huge. A good decision that you have bought a hardware wallet. Once you have it, make sure you keep a hard copy of the seed phrase for back up.

You're right, it may be secure but attacks can happen, good thing that OP has already bought a hardware wallet because online wallet as a long-term storage is not a viable option, there is a reason why veteran users of this forum are advocating the phrase "Not your keys, not your bitcoin", not to mention that with you yourself being responsible for your own bitcoins makes you the only one responsible if ever it was stolen.

[Silberman]

Update Everyone,
I received my Trezor in the mail today.
I took my time and got it all set up correctly.
Not going to lie.. I was nervous about that even, hahaha

Then I sent over from my Coinbase account some small amounts of ETH and BTC
just to make sure everything was working right and I was doing it right.
I was even more nervous about that!

Soon after, I got the confirmations that these couple small transactions went smoothly and were in my Trezor wallet.

I then transferred everything from Coinbase to the Trezor wallet.
I am looking at my wallet and everything is there!

This is a big sigh of relief.
Thank you all for replying to my topic and the words of encouragement.
Now I just sit and hold what I have and keep investing into more crypto!





  

Nice to know, it is understandable that you were nervous but you have done the right thing, exchanges get hacked all the time, or they could disappear overnight, I know this may seem difficult to believe but it has happened in the past, your hardware wallet is going to keep working even if the developers of the Trezor hardware wallet stopped supporting it so you do not have anything to worry about, just make sure that you know how to use your hardware wallet as you can still lose your money if you are not careful.

[suzanne5223]

Update Everyone,
I received my Trezor in the mail today.
I took my time and got it all set up correctly.
Not going to lie.. I was nervous about that even, hahaha

Then I sent over from my Coinbase account some small amounts of ETH and BTC
just to make sure everything was working right and I was doing it right.
I was even more nervous about that!

Soon after, I got the confirmations that these couple small transactions went smoothly and were in my Trezor wallet.

I then transferred everything from Coinbase to the Trezor wallet.
I am looking at my wallet and everything is there!

This is a big sigh of relief.
Thank you all for replying to my topic and the words of encouragement.
Now I just sit and hold what I have and keep investing into more crypto!
  

It good to that you went big into Bitcoin and Ethereum investment though all altcoin are consider to be shitcoin but the problem is not you invested so big on this coins, the problem is
1) Did you bought your trezor wallet from the genuine store or retailer store?
2) Have you developed knowledge in using the hardware wallet or other desktop wallet safely?
3) Have developed the knowledge to invest in crypto profitably?
Cause if you don't have all this knowledge you can easily lose your investment just like that.

[pawanjain]

Coinbase has been here for a long time now but make sure you don't hold large amount in it for a long time.
Exchanges are a bad place to hold large amount of cryptocurrencies. It's good that you order a hardware wallet but makesure you keep it safe.
Transfer all your coins to the hardware wallet as soon as you get it and take the necessary precautions in it securing it.
Also, do not tell anybody about it as you get more prone to getting hacked or robbed when you tell people about your holdings.

[dunfida]

Hello Gang,
New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.

I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.

Thanks for any info!

If you do go for long term then Trezor would be the best option you could take.

Remember;
"Not your keys Not your coins"

Never ever consider on storing up your coins on a centralized platform or simply those custodial wallets because no matter how
reputable or known they are, you wouldnt know on when they would be hacked or experienced problems which would
cause some locked up funds.

[concept2]

Coinbase provides good service for people to hold their coin and holders can even sell their coin for other cryptocurrency/fiat. However, some people say that coinase has the worst customer services because they tend to ignore customers' issues if they live outside of the USA

But I suggest you should transfer all of your money to your newly-ordered Trezos. Hardware wallet gives you full control of your money and therefore, you are not centralized by any third party. Coinbase, on the other hands, control your money and somehow, your information can be sold or leaked. And if coinbase get hacked, your money might be infiltrated. Thus, Trezos give you the ability to shut down the internet and disconnect your bitcoin from the server so that no one can steal your coin with phising attack or computer hacking.

[Distinctin]

Coinbase provides good service for people to hold their coin and holders can even sell their coin for other cryptocurrency/fiat. However, some people say that coinase has the worst customer services because they tend to ignore customers' issues if they live outside of the USA

It gonna be natural, can't stop issues and complaints like that. Well, not all traders are in comfort using Coinbase, so they talk negative about them.

But I suggest you should transfer all of your money to your newly-ordered Trezos. Hardware wallet gives you full control of your money and therefore, you are not centralized by any third party. Coinbase, on the other hands, control your money and somehow, your information can be sold or leaked. And if coinbase get hacked, your money might be infiltrated. Thus, Trezos give you the ability to shut down the internet and disconnect your bitcoin from the server so that no one can steal your coin with phising attack or computer hacking.

We are prone to any hacking attacks and for that huge amount, fund security is a must. Since OP had it already, maybe he could worry no more.
Now, the challenge for him is to test how firm he is about holding and how to control his emotions. If that he can still hold no matter what will happen to the prices in the next days or got be in a panic when seeing huge price corrections.

[The Sceptical Chymist]

for starters you shouldn't announce how much bitcoin you own publicly.

Part of me agrees with you, but I'm pretty sure OP is safe as long as he doesn't give out his address or do something stupid like that.  There are members here who must have tons of bitcoin, and I've never heard any stories of any of them being targeted in real life.  It's something that sounds like it could happen but hasn't....yet.

Anyway, moving your purchases off of Coinbase and onto your Trezor is a smart move, OP.  Just make sure you keep the seed phrase safe, and there are many different ways you can do that--keep reading threads here and you'll pick up a lot of good stuff.  It's definitely better than keeping coins on an exchange, even one as reputable as Coinbase.

Remember;
"Not your keys Not your coins"

This is a mantra here, and for good reason.  Lots of exchanges have either been hacked out of existence or have run away with their customers' coins.  You'll never have to worry about that if you're the only one who has access to your private keys.  And best of luck with your investment.

[Dr.Ona]

Thanks again everyone!
I did buy my Trezor from the manufacturer.
I transferred everything over the day I got it.

I'm keeping some money in Coinbase  ( I'm on auto purchase of BTC and ETH ) but nothing more than $1000
I am a long time holder.. no day trading.

I've got my Trezor and seed safe and sound.
One thing I noticed though.. I have to plug the Trezor into my computer and go to the Trezor site to see my investments.
I only do this and don't go to any other sites.
Do you feel that this is safe to do?

Thanks again for all the advice and suggestions!

[DarkDays]

Hello Gang,
New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.

I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.

Thanks for any info

No exchange is hack-proof and thus secure.

Coinbase is a respectable exchange with good security for their wallets but that's not to say that these wallets have not been hacked before. You're not safe unless you're the only one that holds the private key, so a cold storage wallet is highly recommended specially if you're going to hold your BTC and ETH.

[Ridwan Fauzi]

Actually, hacking incident to the exchange is really rarely happen. And event, if something bad happen in case to coinbase your fund is not necessarily lost in your wallet. Like me, I use binance exchange and this exchange was hacked a few years ago and some user funds were lost but my funds are still intact in my wallet.

It means, you don't need to worry if your fund are on an exchange. As long as you keep some securities that can access to your wallet you will be fine. Because, the exchange hacked is not about hacker hacking to the exchange system but there are some possibilities that hacker watch your movements and look for the carelessness you made.

[bittraffic]

I thought his question is whether it was a good decision to buy BTC and ETH right this moment while the price had already gone up. Well it's still good. The stock market is about to fall down and then people from Wallstreet seem to be looking for alternatives and cryptocurrency trading is where they are going.

But then your question is whether coinbase is a safe place to store your coins. Its not. Most if not all, will always keep in mind that anything that can happen in crypto and exchange could one day be hacked.

[xiboothrezi]

~
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.
Thanks for any info!

The right choice, when you decide to invest a lot of money, you are choosing a hardware wallet that is secure enough to withstand various attacks on the internet.
Well, as many other members have explained, storing a lot of assets in the long term in a wallet exchange is very risky. Even though Coinbase has performed well so far, we also have to be careful. Look at some of these hack cases, even large and well-known safe exchanges have been hacked.

https://t.me/ico_analytic/1385

[MIner1448]

Hello Gang,
New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.

I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.

Thanks for any info!

There is nothing safe in wallets, except hardware wallets, they are the most reliable, everything else can be hacked, even two-step authentication, although it will be difficult, but it is possible, read on sites on the Internet there are already cases where you have lost your money.

[Reatim]

Hello Gang,
New guy here.
About 2 weeks ago I purchased $50,000 of Bitcoin and Ethereum thru Coinbase.
It's all sitting in the Coinbase wallet with a 2 step verification to get access.

I just ordered a Trezor 1 cold wallet. Might take a few days to get here.
How safe is the Coinbase wallet for holding my stuff?
I've read that their site is actually very secure.

Thanks for any info!

You should not posted this here and instead wait for your trezor wallet to arrive and Safely transfer your funds for Keeping long.

Because as you have posted here , now you are one of the  target of scammers and hackers here in crypto.

But week had passed , meaning your Hardware wallet is already there? update us please for what is you rtatus now.

[nebuch]

Update Everyone,
I received my Trezor in the mail today.
I took my time and got it all set up correctly.
Not going to lie.. I was nervous about that even, hahaha

Then I sent over from my Coinbase account some small amounts of ETH and BTC
just to make sure everything was working right and I was doing it right.
I was even more nervous about that!

Soon after, I got the confirmations that these couple small transactions went smoothly and were in my Trezor wallet.

I then transferred everything from Coinbase to the Trezor wallet.
I am looking at my wallet and everything is there!

This is a big sigh of relief.
Thank you all for replying to my topic and the words of encouragement.
Now I just sit and hold what I have and keep investing into more crypto!

Congratulations mate. Now you have peace of mind and feeling secured. Big asset should be stored in the safe storage which what you did. Priority first, save the instant loss while you can anticipate.

Always my dream, that one day I will have even one Ethereum and even just 0.03Bitcoin. I will continue to pursue my dream to have it in the future.