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Ken Berry, MD · 74w
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...
PeterRod54 profile picture
When you leave your Bitcoin on an exchange like Coinbase, you don't actually control it, since that exchange possesses the 'private keys.'

You're in a dark place right now; I don't know how much of your 'fortune' you've blindly invested so far, so I highly recommend that, for the time being, you leave things as they are and get yourself up-to-speed on learning Bitcoin. Once you've learned the basics of Bitcoin you can begin making sound decisions, i.e. moving your Bitcoin off an exchange, et cetera.

For now learn Bitcoin. A good starting point would be to get a copy of 'The Bitcoin Standard', by Saifedean Ammous - I was able to download a PDF version for free. Next, you'll want to visit the following YouTube channels:

1. Matthew Kratter - Bitcoin University
2. BTC Sessions

Take your time, learn the basics; then you'll know what you have to do regarding your Bitcoin on Coinbase - but don't take too long...there's a saying in the Bitcoin community, "not your keys, not your Bitcoin." You may not know what that means now...but you will eventually ๐Ÿ˜‰