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5
Can anyone point me to a good primer on crypto?
posted 354 days ago by yeldarb1983 354 days ago by yeldarb1983 +5 / -0

looking to throw +/- $50 at bitcoin or other tokens per check while the market's down, but I have only the barest understanding of it

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– SOTUisFUBAR 3 points 353 days ago +3 / -0

Buy it, but transfer it to a "cold" (offline) or hardware wallet. Don't want to leave it in an online account or on an exchange.

Ledger wallets are popular, I think you can even buy through them as well if you don't have an account setup to buy yet.

https://www.amazon.com/Ledger-Nano-Cryptocurrency-Hardware-Ethereum/dp/B07FY5R77T

I have a secondary computer I setup a virtual machine computer that I store my crypto on and is only online when I'm transferring BTC. Keeps it safe that way, as well the wallet above does as well.

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– yeldarb1983 [S] 1 point 353 days ago +1 / -0

alright, thanks, I'll look into that

any thoughts on keeping crypto in multiple wallets so if something happens to one(lose the wallet...hard drive crash, etc), you don't lose everything?

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– SOTUisFUBAR 2 points 353 days ago +2 / -0

You can, but as far as I can tell no need to. When you setup your wallet it gives you seed words for recovery for just in case what you mentioned happens.

You need to write down, or do something with these seed words to ensure their safety. Without them if you have issues with your wallet, it's gone.

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– yeldarb1983 [S] 1 point 353 days ago +1 / -0

maybe, but as the old saying goes, "never put all your eggs in one basket"

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– deleted 3 points 344 days ago +3 / -0
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– yeldarb1983 [S] 2 points 344 days ago +2 / -0

thanks fren!

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