posted ago by yeldarb1983 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 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 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 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 ago +1 / -0

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

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Granite_Pill 3 points ago +3 / -0

https://communities.win/c/Crypto

Feel free to ask me any questions.

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yeldarb1983 [S] 2 points ago +2 / -0

thanks fren!