Best way to invest in crypto?

Joined
Apr 2021
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Once one finds a trustworthy physical crypto wallet, do you plug it in to your computer via a USB cable and download your keys and hope during this time no hackers are recording the down load so they can steal your keys?

It seems wrong for an exchange to offer to store keys for someone and then say if they get hacked (which is their fault) those that lose their keys will not be reimbursed.

This is a major security flaw in all of this because as they say, anything can be hacked at anytime so if that's true then no crypto currency is safe and could be compromised at any moment.
 

evo

Site Admin
Joined
Apr 2017
I understand your concern. This is why you should only store your crypto on centralized custody wallets that you trust. Again, Coinbase and Gemini are very safe and secure. Make sure you use a unique password and always setup 2-Factor Authentication, and you'll be fine. Same with trading on centralized exchanges... make sure you use a unique password and setup 2FA, and you will be fine. Using reputable exchanges will help alleviate any risk.

Hardware wallets are the most secure. But just like anything, safeguard and protect your recovery key because this is required should you lose your hardware wallet and need to buy another one to restore. Personally, I use software wallets that are safe and secure.

It's safe to buy crypto. Just only buy and trade from reputable sites, and make sure you practice good security measures, and you'll be fine. Get signed up on Coinbase and make your first purchase.

Cheers!
 
Joined
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But, how would you go about getting the keys from the exchange to a physical wallet?
Thru a download to your computer and then transfer them to the physical digital wallet that connects via a USB cable?

If so, couldn't then duplicate my keys on to numerous physical digital wallets?

With my business, I back up my data to 6 different hard drives, 4 of which are not connected to the internet and are always powered off until I turn them on to run a backup.

Is this similar to how it would work with storing keys on a physical digital wallet?
 
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And, is it possible to store the keys on a regular external hard drive?

I'm reading up on some of these Crypto Hardware Wallets and I hear stories of these devices failing, they sometimes have software issues that make them useless.

If it's just data, can't it go on an external drive like regular data - or is special software needed?
 

evo

Site Admin
Joined
Apr 2017
Buy your crypto on Coinbase. Send your crypto to the wallet address (account number) on your hardware wallet. Easy to do with a click.

You can store your keys on anything you want... a piece of paper, a file, it's just a unique set of words that acts as a long form password.

Many people buy multiple crypto hardware wallets. This way if one fails, you just grab another one and restore. Your crypto is never lost as long as you have your keys.
 

evo

Site Admin
Joined
Apr 2017
OK, so sounds like having multiple crypto hardware wallets may be the safest thing to do
As I recall, when buying a hardware wallet, you can buy 3-packs or 5-packs.

But even if you buy one, and it fails, you can always buy another. Owning a multi-pack makes it more convenient, since you have another one ready to go immediately.
 
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Apr 2021
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OK, so I'm having issues getting funds in to my Coin Base account
(for lower fees, I was going to use Binance.us but they aren't serving my area yet for some reason so they're out)

I tried to manually enter my bank info and it said my bank cannot be manually entered (it's a smaller regional bank)
I don't want to use a credit card as that's too expensive

I already have a company Pay Pal account and they offer Ethereum (I was wanting to buy Ethereum and/or Binance Coin as an investment and sit on it till it grows for a year or two)

Any reason why I couldn't just purchase thru Pay Pal?
 

evo

Site Admin
Joined
Apr 2017
Unfortunately, there are always going to be fees to onramp your fiat to crypto, as well as offramp your crypto to fiat.

To minimize fees, the cheapest solution is to have Coinbase pull the funds directly from your bank account. You should be able to add your ACH routing number and account number, Coinbase will make two small deposits, which you can easily confirm.

Alternatively, you can do a domestic bank wire transfer. Since you're using a smaller regional bank, the fee for this may be minimal. However, having Coinbase do an ACH pull is no cost to get the fiat, and you only pay the conversion to crypto fee.
 
Joined
Apr 2021
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Coinbase is showing that I cannot manually add my bank's routing / account number for some reason.

I tried to setup bank wire and it's asking for my online banking login info which is a none starter. It wouldn't work anyway because my bank always sens me a access number by text so I can verify my identity before being allow to log in.

Is there a tech support phone number for Coinbase that I can call for help?
 
Joined
Apr 2021
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What about Dogecoin ?

I see numerous folks claiming this on is just going to go up

Just curious what good things this one has going for it
 

evo

Site Admin
Joined
Apr 2017
Coinbase is showing that I cannot manually add my bank's routing / account number for some reason.

I tried to setup bank wire and it's asking for my online banking login info which is a none starter. It wouldn't work anyway because my bank always sens me a access number by text so I can verify my identity before being allow to log in.

Is there a tech support phone number for Coinbase that I can call for help?
Just submit a support ticket through Coinbase Help, and they can assist.
 

evo

Site Admin
Joined
Apr 2017
What about Dogecoin ?

I see numerous folks claiming this on is just going to go up

Just curious what good things this one has going for it
No fundamentals. All hype and narrative.

I do not own any. Too speculative and risky for me.
 

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