Damus
Ken Berry, MD profile picture
Ken Berry, MD
@KenDBerryMD
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 mistake??
Be gentle but honest...
1402❤️42🤙7♥️1🌞1👀1😱1
🇵🇸 whoever loves Digit · 74w
Every satoshi you have should be in open-source wallets and in my opinion on the actual chain (not lightning) Open source hot wallet, open source cold wallet, open source room temperature wallet
🇮🇹Davide btc ⚡ · 74w
Personally, I would never keep my BTC on an exchange for many, many reasons. I have my hardware wallet and I keep everything in there (to put it simply, of course). BTC should be kept away from prying eyes, especially since exchanges have been equated to banks in terms of reporting customer activiti...
El Guirri · 74w
The only reason to have it on exchange is if you are trading. If not and you are saving, it's a simple question. Do you want someone else to have your savings in their hands? There's always a learning curve and every bitcoiner has to go through it which is why there's soooo many great resources onli...
Christian · 74w
Take baby steps in direction of cold storage. It's a learning process that takes months. Tutorials from nostr:npub1rxysxnjkhrmqd3ey73dp9n5y5yvyzcs64acc9g0k2epcpwwyya4spvhnp8 are very helpful.
celestal · 74w
Yeah get a hardware wallet for cold storage and withdraw your bitcoin from Coinbase. And store your seed preferably on metal. Yokis by nostr:npub1nt2xl8q89ayc6wcuf65guj9qfcg54padjszsk307r7qee5mmz5hshllhax is the most convenient: it has 3 seed metal plates and a metal carver pen with which you can w...
btconboard #LNHANCE or #CTV · 74w
Everything is a tradeoff. If Coinbase gets hacked or goes bankrupt you’re fucked, but self custody you have to take responsibility and that can be scary at first. Just take your time. Here’s a good place to start: https://youtu.be/FAYmE5-40PQ
Francis Mars · 74w
you should deposit your sats on wallet of satoshi and use them to play nostr:npub1kd3nlw09ufkgmts2kaf0x8m4mq57exn6l8rz50v5ngyr2h3j5cfswdsdth
Sydney Bright · 74w
It is certainly is not a good idea to keep in on coinbase. Learning to properly cold storage is paramount but also a learning process. Either buy a cold wallet now and learn to use it by putting smaller amounts on there. Or, I often recommend clients first play with a BitKey. It’s like training...
Justin Trudeau · 74w
Make it a priority to move your coins off of there. Don't do it all at once or they may freeze you out lol. Pocket change can stay on an exchange ,0.1-1 can be on a trezor or bitbox with a passphrase. Any larger amount, assuming it is significant to you should go into a multi sig vault. Coldcard re...
charliesurf · 74w
self custody is the end goal... learn how to do it and go for it when you feel confortable
BR Bitcoinapolis · 74w
Steve Martin, cutting his live comedy album in the mid 1970s, a heckler yelled out during it and this was Martin's instant response: "I remember my first beer."
FiddleHodlHomestead · 74w
what?!! no - get it off of there I haven't read through the replies, so I'm sure this is covered many times, but I see two separate questions: purchasing btc on CB keeping your btc on CB Step one: get that btc off of Coinbase. Learn to self custody, maybe starting with smaller amounts, but start ...
Nunya Bidness · 74w
Begin making plans to get it off and in to cold storage. I recommend nostr:npub12ctjk5lhxp6sks8x83gpk9sx3hvk5fz70uz4ze6uplkfs9lwjmsq2rc5ky's Coldcard series of hardware wallets. Take your time, ask questions to us if you are unsure about things but order your Coldcard asap so you can have it ready...
Blissful Sats · 74w
Recommend getting collaborative multi cold storage with Casa unchained or nunChuck
Dan⚡️ · 74w
Bitbox!
𝖋𝖎𝖆𝖙𝖉𝖊𝖓𝖎𝖊𝖗 (¯`◕‿◕´¯) · 74w
Don’t trust your fortune on company EVER Get a Coldcard TODAY AND don’t shitcoin
idsera · 74w
bitkey.world
btc21million · 74w
Important advice! Try to transfer a few hundred (or thousand) sats first when you got your hardware wallet or you might end up with nothing. Got a local bitcoin meetup to get advice on how to transfer. Last but not least, buy your corn from reputable bitcoin only exchanges to avoid shitcoin casinos...
Bitcoin Well · 74w
Coinbase hold your bitcoin under a terms of service. Hold your bitcoin in a wallet only you control. That your bitcoin is under held on your terms, not someone else's
Hogeye · 74w
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 surge...
damon · 74w
Buy on Swan or River then move to your own hardware wallets using Unchained for multisig self custody.
Hynek · 74w
Exchanges are trap 🪤. Find your peer in local community. See nostr:npub1w0rldx5sdg960fw7lffu9r4tcec3nlu0ez2jzhdnl6x0tvdgpnkqf5v9xl or use nostr:npub1mftv2j67vayavkks8rqev3u8jjhefe86tf80msstfxvpunk9vmps6prkl3
Ron Denham · 74w
Bad idea to stay that way. Get yourself a Coldcard and take custody yourself.
21st Capital · 74w
Dr. Berry, we’re a great fan of your work! Here’s our special offer to you: https://cal.com/21stcapital.com/introduction-call-bitguide At 21st Capital, we help Bitcoiners like you with securing your wealth. As a short answer , Coinbase Bitcoin is simply an IOU. You’ll lose the coin if they ...
Tobo⚡ · 74w
Buy a Coldcard Ken, set it up and take custody of your funds. Otherwise you might never know if they really exist.
PeterRod54 · 74w
https://www.youtube.com/watch?v=V-HtZF6Xh4M&pp=ygUSYml0Y29pbiB1bml2ZXJzaXR5
The Bitcoin Chef · 74w
Time to get your self a hardware wallet. It’s easier than you think.
BTC-Satan · 74w
buy only from Bitcoin-only firms. Swan or River are the only ones I can recommend.
Shawn Cushen · 74w
Coldcard Q + Nunchuk for me! 💪🏻
Horszt · 74w
Bro, you should get a hardware wallet, this was the first thing I got and I was at that point like a week into studying Bitcoin! 🧡
PowerofLife · 74w
Keeping your life savings in a hot wallet can be risky. For better protection, it's safer to move them into a non-custodial wallet.
Brett Phillips · 74w
Great points on sovereignty. Another point is that they just can’t keep their API working in times of high traffic. That leaves much of their value prop, actually exchanging things, inoperable when you need it most.
HyperTangled · 74w
Avoid ledger cold wallets, even if they are open source. I personnaly also avoid trezor. Recommended bitcoin only wallets such as the coldcard
The Epic · 74w
You've got some great replies and some really good questions I see. I'll reinforce what some people have been saying. Definitely get a hardware wallet. I like the Coldcard from CoinKite. Avoid the Ledger hardware wallet. It's okay if you use Coinbase as an exchange for a while. I recommend eventuall...
bitcoin.rocks · 73w
Check out our wallet guide https://bitcoin.rocks/wallets
Chris White · 73w
Self custody is absolutely mandatory!!!!
TeslaLiberty · 73w
I would move my funds to nostr:npub1xkere5pd94672h8w8r77uf4ustcazhfujkqgqzcykrdzakm4zl4qeud0en or nostr:npub1ex7mdykw786qxvmtuls208uyxmn0hse95rfwsarvfde5yg6wy7jq6qvyt9 Then learn how to self custody Or you go with collaborative custody with unchained.com
Simply Greeny · 73w
Blockstream jade is the way to go