OK friends, I currently have my fortune (lol) parked on #Coinbase .
Is that smart or...??
Getting a cold wallet for long-term storage of larger amounts, but is Coinbase ok to use or another newbie mis...
Coinbase has been proven to be a pretty reliable CEX Centralized Exchange. Using it reqires you to provide ypur true identity and a contact link.
I would (and do) treat it like a specialist recommend by my personal physician. Use it for its specific purpose and then get away and unlink. The surgeon that did a joint surgery in 2007 does not need current information on me. Use Coinbase and any CEX to obtain BTC but when you get more value than you would carry on your person in cash, it's time to get it off the exchange and into a wallet not continuously connected to the internet.
Treat it like your personal medical record. No one needs access to it unless you are dealing with a particular issue.
My $0.02
Take care
Hogeye Harry
I would (and do) treat it like a specialist recommend by my personal physician. Use it for its specific purpose and then get away and unlink. The surgeon that did a joint surgery in 2007 does not need current information on me. Use Coinbase and any CEX to obtain BTC but when you get more value than you would carry on your person in cash, it's time to get it off the exchange and into a wallet not continuously connected to the internet.
Treat it like your personal medical record. No one needs access to it unless you are dealing with a particular issue.
My $0.02
Take care
Hogeye Harry