Transferring bitcoin to/from an exchange

[pomme7000]

Newbie question regarding the use of a cold wallet (eg, Trezor).

Let’s say that I:
1. Purchase some bitcoin on the Coinbase exchange.
2. Move my bitcoin from the Coinbase exchange into my cold wallet.

Now, some time later, I want to sell my bitcoin. Can I move my bitcoin from my cold wallet to a different exchange, say BlockFi, and sell it there?

I assume the bitcoin in my cold wallet is not linked to / restricted to a particular exchange, but I would like to confirm. Thank you.

[1714138825]

1714138825

[1714138825]

1714138825

[1714138825]

1714138825

[SFR10]

1. Purchase some bitcoin on the Coinbase exchange.
2. Move my bitcoin from the Coinbase exchange into my cold wallet.

Now, some time later, I want to sell my bitcoin. Can I move my bitcoin from my cold wallet to a different exchange, say BlockFi, and sell it there?

Yes, once it arrives and receives confirmations, "Coinbase exchange" can no longer control it. It's worth noting that you can directly purchase BTCitcoin through Trezor Suite: Compare crypto exchanges and buy bitcoin instantly with Trezor

[dkbit98]

Now, some time later, I want to sell my bitcoin. Can I move my bitcoin from my cold wallet to a different exchange, say BlockFi, and sell it there?

When you withdraw Bitcoin from Coinbase exchange to your own wallet (hardware or software) you will have full control over your coins, if you keep your backup seed phrase secure.
You can than move those coins anywhere you want, but there is a big BUT because some exchanges are starting to block or freeze accounts of people that get flagged by some chain analytics software algorithm.
I heard exchanges may even ask to show them more information about your personal life, what is your job and income, why you trade crypo, show transaction history, and all kinds of crap like that.
Most of the time that won't happen, but for any reason they can just say your coins are ''tainted'' even if they are not, so I suggest better use decentralized exchanges like Bisq and p2p trading.

[Pmalek]

Can I move my bitcoin from my cold wallet to a different exchange, say BlockFi, and sell it there?
I assume the bitcoin in my cold wallet is not linked to / restricted to a particular exchange, but I would like to confirm. Thank you.

Your Bitcoin is yours and only yours if your are the only one who knows the private keys and or seed phrases that protect it. Bitcoin has no geographical or other restrictions that could prevent you from sending it to an exchange, casino, black market, or using it for online purchases with individuals or companies willing to accept it.

But you have to be careful. Bitcoin is not controlled or regulated by some centralized entity. That means that YOU have to take responsibility of what you do with it. If you lose the keys, transfer it to the wrong address, or you get hacked, there is no support that can help you. The only person that can help you now is the new owner of the keys whose addresses the coins have been transferred to.

[pomme7000]

Thank you all. Very helpful.

[n0nce]

Most of the time that won't happen, but for any reason they can just say your coins are ''tainted'' even if they are not, so I suggest better use decentralized exchanges like Bisq and p2p trading.

My recommendation would be to either buy P2P via a secure means such as https://bisq.network/ or to mine your own.

If you get the coins through a KYC exchange, I would recommend mixing them, for example using ChipMixer or CoinJoin. I believe something like this is also possible with Samourai.

Otherwise, the exchange and / or chain analysis companies and / or other bad actors can and will track your purchased coins and link them to your submitted KYC details i.e. your real-life identity.

[SFR10]

or to mine your own.

That would lead to a lot of new problems ^{[e.q. the time that it takes for the ASIC rigs to arrive and their risks (e.g. faulty boards), limited knowledge in regards to mining, having to wait for a long time before he could accumulate a certain amount, dealing with heat and noise, and a lot of other things...]} and since we're dealing with someone that has limited knowledge as a whole, it's best to stick to what @dkbit98 ^{[and you]} mentioned before ^{[decentralized exchanges]}, but I guess it's a bit late for that ^{[despite having various warnings in the above posts, @pomme7000 chose a centralized exchange]}!