Crypto help

C

CDNGass

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Trusted Member
Hey guys, I think it’s finally time I start a wallet. Is there someone that would mind helping me set it up? I know I know spoon feed.. but I’m terrible with my phone
 
Coinbase works well and they have quite a few cryptos. For small amounts ill buy it there and transfer them to my wallet.

Also, I'd strongly suggest using a hard wallet or at least a good software wallet instead of leaving it on an exchange. Like gold or silver, if you dont hold it you dont own it!
 
Depends what u using the wallet for. You essentially have a wallet only, or you can have an exchange account which gives you addressed (which are the wallets) and it’s also a platform to trade on. Simplest trading/wallet I think would be either Wealthsimple or ndax (both Canadian). I will warn they are very intrusive with the info they ask, but I think those are the simplest. But again, if you were looking for just wallets, there are a lot of apps and a quick google search for credibility can show how trusty those are like exodus, coinbase, etc.
 
RubberbandB said:
Depends what u using the wallet for. You essentially have a wallet only, or you can have an exchange account which gives you addressed (which are the wallets) and it’s also a platform to trade on. Simplest trading/wallet I think would be either Wealthsimple or ndax (both Canadian). I will warn they are very intrusive with the info they ask, but I think those are the simplest. But again, if you were looking for just wallets, there are a lot of apps and a quick google search for credibility can show how trusty those are like exodus, coinbase, etc.
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Ndax is garbage. You are much better off with Kraken.
You don't actually have a "wallet" on an exchange. Just like your money isn't in the bank. They just owe you xx amount of said asset. Leaving money on exchanges is a bad bad idea. I used to trade heavily on FTX. I lost 6 figures on there.
 
3ml said:
Ndax is garbage. You are much better off with Kraken.
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I mean ur right it is garbage. I don’t have much experience with kraken but from what I’ve seen and experienced, the more useful/good those services are, the more complex and not user friendly they are. And it would be the inverse for user friendly services, those are usually dumbed down and dumb themselves. I only mentioned ndax since for the most part it’s easy on new guys.
 
RubberbandB said:
I mean ur right it is garbage. I don’t have much experience with kraken but from what I’ve seen and experienced, the more useful/good those services are, the more complex and not user friendly they are. And it would be the inverse for user friendly services, those are usually dumbed down and dumb themselves. I only mentioned ndax since for the most part it’s easy on new guys.
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What I don't like about NDAX is there pricing is way off
 
3ml said:
What I don't like about NDAX is there pricing is way off
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I never really noticed that, mainly cuz I never checked. For me when it comes to dollar cost averaging, however much off they were wouldn’t have mattered to me. Unfortunately I am out of the crypto game now after a hefty loss during Covid.
 
RubberbandB said:
I never really noticed that, mainly cuz I never checked. For me when it comes to dollar cost averaging, however much off they were wouldn’t have mattered to me. Unfortunately I am out of the crypto game now after a hefty loss during Covid.
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That's the thing it actually does make a massive difference If you are constantly getting screwed put of a few percent it can make a massive difference down the road
 
3ml said:
That's the thing it actually does make a massive difference If you are constantly getting screwed put of a few percent it can make a massive difference down the road
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Never really looked at it that way. You’re absolutely right. In the short term, losing a couple of cents here and there don’t make a difference, but it does in the long run. But it goes both ways, for me the micro management isn’t worth the extra gain. I mean I guess that’s why I lost and I’m out of the game, maybe I was too lazy.
 
RubberbandB said:
Never really looked at it that way. You’re absolutely right. In the short term, losing a couple of cents here and there don’t make a difference, but it does in the long run. But it goes both ways, for me the micro management isn’t worth the extra gain. I mean I guess that’s why I lost and I’m out of the game, maybe I was too lazy.
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Exactly so think about it this way. They steal 3 % on you out of 100k
That's 3k
The asset triples
You are out 9k

Same reason why "investment" products sold by your bank are horrible. The 2% management fee robs you of alot of money over years
 
3ml said:
Exactly so think about it this way. They steal 3 % on you out of 100k
That's 3k
The asset triples
You are out 9k

Same reason why "investment" products sold by your bank are horrible. The 2% management fee robs you of alot of money over years
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^^^truth!
 
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Bitcoin4u.ca I found the absolute easiest out of them all, for transfers. I don't know anything about wallets or making money with it.
 
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