Can you please help me about hardware wallet qwery

[Lovingman]

Hi, Before entering can you please help me with the query regarding hardware wallet. If I put all my bitcoin into a bitcoin hardware wallet like trezor in order to secure against hacking, loosing, will the value of the bitcoin still increases/decrease as if it was still on an exchanges? Or I can only benefit from the value of the bitcoin increasing when it is on the open network, therefore susceptible to hacking?
*Does it cost to send from soft wallets to the hardware wallet? How much is in cheap or costly?

[OmegaStarScream]

The transaction fees are based on the transaction sixe and how congreted the network is but t shouldn't cost you more than a  couple of dollars to send from your soft wallet to hardware wallet.

If you have 1 BTC, you'll always have 1 BTC whether that's stored in an exchange or a hardware wallet. It's the USD value goes up and down, but no, just because you see the USD vslue going down in your hardware wallet does not mean that the funds can be accessed by a hacker. Your hardware wallet software just use exchanges to request the Bitcoin price based on your holdings. Doesn't affect the safety of the funds.

[Charles-Tim]

Yes, the value of the coin will still increase if the coin increase in price, or decrease if the coin price is decreasing. The coins are not stored on the hardware wallet, it is stored on blockchain. The hardware only generate and control the keys that can be used to have access to your coins on the blockchain.

[Frankolala]

OmegaStarScream is right. The value of your bitcoin in dollars would increase or decrease anywhere you store your bitcoin, either in an exchange or in your self custody wallet. As for the fee, it's when the blockchain is congested they you can pay high, but if it's not congested, it's just something little that you pay. You can use https://mempool.space/ to check out the transaction fee of the amount that you want to send for adjustment.

[Lovingman]

Also I have done few transactions with bybit and few of my Indian friends told me to buy crypto from binance, so is binance legal in India? Few says illegal some says legal, I don't know in exact about legalisation in fact I have zero knowledge about technical and what I planned is to buy bitcoin from binance, bybit and store in trezor wallet only. Any Indian sir/Mam here? Thank you again

[un_rank]

Or I can only benefit from the value of the bitcoin increasing when it is on the open network, therefore susceptible to hacking?

The bitcoin network is open, exchanges are not open network, they are just wallets that are controlled by exchanges. There is just one Bitcoin network.

*Does it cost to send from soft wallets to the hardware wallet? How much is in cheap or costly?

Yes, the fees are solely determined by the network.
Sending from an exchange may be more expensive as you cannot fix the fee on most of them and you are overcharged sometimes.

- Jay -

[stadus]

What you hold in your hard wallet and on an exchange is the same Bitcoin, so it has the same value. The difference lies in where you choose to store and secure it. You can use a hardware wallet, an exchange, or a software wallet. However, the safest option is a hardware wallet because you have full control over it.

Do more research man, you need to understand the basics of Bitcoin and how to secure it properly. Since it’s your investment, you definitely don’t want to lose it due to a simple mistake. Take the time to protect it!

[BlackBoss_]

Hi, Before entering can you please help me with the query regarding hardware wallet. If I put all my bitcoin into a bitcoin hardware wallet like trezor in order to secure against hacking, loosing, will the value of the bitcoin still increases/decrease as if it was still on an exchanges? Or I can only benefit from the value of the bitcoin increasing when it is on the open network, therefore susceptible to hacking?

1 bitcoin is always 1 bitcoin, and its value increases or decreases, is depended on Bitcoin price on the market. If you keep your bitcoin in a non custodial wallet, open source, and offline like a hardware wallet like Trezor, your bitcoin will be safe.

Remember wallets have types of open source and close source, Trezor is an open source hardware wallet. Ledger is not.
[LIST] Open Source Hardware Wallets
[GUIDE] How to buy a Hardware Wallet the right way

*Does it cost to send from soft wallets to the hardware wallet? How much is in cheap or costly?

If you make an on chain transaction to move your bitcoin from one address to another address, in your same wallet or to a wallet of other person, you need to pay on chain transaction fee to Bitcoin miners. Cheap or expensive, it depends on fee rate you set for your transaction.

[Kelward]

Yes, the value of the coin will still increase if the coin increase in price, or decrease if the coin price is decreasing. The coins are not stored on the hardware wallet, it is stored on blockchain. The hardware only generate and control the keys that can be used to have access to your coins on the blockchain.

Many newbies makes the mistake of thinking that their BTC is stored in their wallet, not knowing that the wallet is the access to their coins on the Blockchain. Some will also panic when they see their Bitcoin reducing in USD value, not knowing that it's because Bitcoin is volatile and it's price can pump or dump. Adequate knowledge of how Bitcoin works is very necessary for newbies that wants to start holding it so that they will not worry unnecessarily when they notice any changes in price. Knowing that if your BTC is in a none custodial wallet, that makes you to be in total control, if you lose your wallet keys you lose the access to your BTC on the Blockchain.

[Mia Chloe]

Hi, Before entering can you please help me with the query regarding hardware wallet. If I put all my bitcoin into a bitcoin hardware wallet like trezor in order to secure against hacking, loosing, will the value of the bitcoin still increases/decrease as if it was still on an exchanges? Or I can only benefit from the value of the bitcoin increasing when it is on the open network, therefore susceptible to hacking?

Other users here have pretty much given you a base explanation of how it works. Think of bitcoin like an asset which actually makes sense if you are Hodling it. What happens is when the value of bitcoin goes up ,the value of the bitcoin you have regardless of where it is stored also increased based on how many units of bitcoin you own.  It's a matter of increase in value when compared to fiat and not necessarily increase in the units of coins you own.

Does it cost to send from soft wallets to the hardware wallet? How much is in cheap or costly?

It's best you store your coins on a hardware wallet because it's safe from online attacks which is the most rampant. As for fees, it's the same regardless of the wallet. The only difference is that for the case of CEX they add up their own extra fees sometimes to cover tax and other charges as the case may be.

[PX-Z]

Also I have done few transactions with bybit and few of my Indian friends told me to buy crypto from binance, so is binance legal in India? Few says illegal some says legal, I don't know in exact about legalisation in fact I have zero knowledge about technical and what I planned is to buy bitcoin from binance, bybit and store in trezor wallet only. Any Indian sir/Mam here? Thank you again

Check this article[1], it says that Binance is back in india after its ban on January last year. And if you can access Binance using your local ISP the  you're good to go. I suggest and preferred P2P to buy as is much cheaper to buy bitcoin. It just needs KYC, and read/follow all the notes and warnings shows in the P2P page for your own safety.

[1] https://www.binance.com/en/square/post/12198392258345

[Z-tight]

so is binance legal in India? Few says illegal some says legal,

Binance is legal in India, it was previously banned in India because they did not have the necessary license to operate, but binance have now registered with the FIU-IND, and they are now legal in the country, so you can use them if you want to.

I just want to add that BTC is not stored in wallets, it is stored in the blockchain. You made a good choice to use a hardware wallet, it is cold storage and it protects you from online attacks.

[coupable]

Hi, Before entering can you please help me with the query regarding hardware wallet. If I put all my bitcoin into a bitcoin hardware wallet like trezor in order to secure against hacking, loosing, will the value of the bitcoin still increases/decrease as if it was still on an exchanges? Or I can only benefit from the value of the bitcoin increasing when it is on the open network, therefore susceptible to hacking?
*Does it cost to send from soft wallets to the hardware wallet? How much is in cheap or costly?

One Bitcoin will remain at the same market value whether you keep it on a trading platform, in your own wallet, or even in a casino.

The transfer fees will not exceed a few dollars, and perhaps even less than that. This is if we are talking about fees on the network. However, if you are going to transfer Bitcoin from a trading platform to your own wallet, the fees will be a little high because the platform imposes additional fees for its services, and Bitcoin withdrawals are always expensive.

Your question confirms that you are still a beginner in this space and it will be somewhat risky to invest in a way that you do not master. This will make you vulnerable to hacking or manipulation by any party that may use it. I advise you to spend more time learning the basics of crypto and I suggest that you focus on Bitcoin and its protocol because it will make it easier for you to understand the mechanisms of the rest of the networks

[dkbit98]

Hi, Before entering can you please help me with the query regarding hardware wallet. If I put all my bitcoin into a bitcoin hardware wallet like trezor in order to secure against hacking, loosing, will the value of the bitcoin still increases/decrease as if it was still on an exchanges? Or I can only benefit from the value of the bitcoin increasing when it is on the open network, therefore susceptible to hacking?

You are not putting any bitcoin in trezor or any other devices, coins are on blockchain, and trezor is only holding keys, and it is used for signing transactions.
I don't know what kind of silly question that is...monetary value of bitcoin has nothing to do with things you are talking about.

*Does it cost to send from soft wallets to the hardware wallet? How much is in cheap or costly?

You have to pay normal bitcoin transaction fees:
https://mempool.space/