[bimmer456]

So which Bitcoin app is best in the App Store?

[upstatedoc]

Banned

[so0fresh]

coinbase

[CTinline-six]

The ones that give all your info to hackers. Those seem to work the best.

[bimmer456]

I was looking at Coinbase seems pretty good.

[elkid23]

Coinbase is very easy to use and secure (from what I understand). Transactions on the BTC blockchain tend to take about a week to verify, but that's regardless of the exchange. Once you purchase, you lock in the rate so that's a plus. Good luck!

[bimmer456]

Originally Posted by elkid23

Coinbase is very easy to use and secure (from what I understand). Transactions on the BTC blockchain tend to take about a week to verify, but that's regardless of the exchange. Once you purchase, you lock in the rate so that's a plus. Good luck!

Thanks! Yeah as long as the rate is locked in its cool. I've linked my credit card for now not sure if I should link my checking account maybe later. I can transfer funds from my brokerage to my checking account instantaneously so that would be the way to go to invest large amounts and retire early or buy a mansion among other things.

[Lowkey F10]

I’d use BitPay to hold your bitcoins and Coinbase to purchase. I don’t recommend holding BTC into coinbase since there have been a lot of reports about missing BTC

[bimmer456]

Originally Posted by Lowkey F10

I’d use BitPay to hold your bitcoins and Coinbase to purchase. I don’t recommend holding BTC into coinbase since there have been a lot of reports about missing BTC

Yes I heard about using your own wallet rather than Coinbase I'll have to look into that. Do you recommend a physical device or in the cloud, I assume in the cloud? Since it could be easy to lose a physical device.

[Lowkey F10]

Originally Posted by bimmer456

Yes I heard about using your own wallet rather than Coinbase I'll have to look into that. Do you recommend a physical device or in the cloud, I assume in the cloud? Since it could be easy to lose a physical device.

Always better to get hardware based.

What I do is I have the BitPay app on my iPhone and my PC, and they give you about 10 words to remember as your backup phrase which I keep in my notes on my iPhone. I also save all private keys into my phone and everything else since there’s a 99% chance that they’re safe even if your phone gets stolen (provided you have a passcode)

[bimmer456]

Originally Posted by Lowkey F10

Always better to get hardware based.

What I do is I have the BitPay app on my iPhone and my PC, and they give you about 10 words to remember as your backup phrase which I keep in my notes on my iPhone. I also save all private keys into my phone and everything else since there’s a 99% chance that they’re safe even if your phone gets stolen (provided you have a passcode)

Okay. I also turned on two factor authentication on my gmail as I read an article of someone hacking Coinbase through a password reset through Verizon or something like that and having two factor authentication would prevent the hack from working.

[Lowkey F10]

Originally Posted by bimmer456

Okay. I also turned on two factor authentication on my gmail as I read an article of someone hacking Coinbase through a password reset through Verizon or something like that and having two factor authentication would prevent the hack from working.

Yeah always have 2FA on everything you possibly can. It’s being more and more known to bigger sites too due to how good 2FA security is

[bimmer456]

Originally Posted by Lowkey F10

Yeah always have 2FA on everything you possibly can. It’s being more and more known to bigger sites too due to how good 2FA security is

So it looks like the verification of identity is having issues on the site and mobile app so I'll have to wait to sign up. What's the process of creating your own wallet that you use?

[Lowkey F10]

Originally Posted by bimmer456

So it looks like the verification of identity is having issues on the site and mobile app so I'll have to wait to sign up. What's the process of creating your own wallet that you use?

Simple and easy. I highly recommend BitPay. It’s secure and safe and no identity needed to be provided

[stylinexpat]

Best to have a separate device with nothing else on it for any Cryptocurrency Trading.

[bimmer456]

Originally Posted by stylinexpat

Best to have a separate device with nothing else on it for any Cryptocurrency Trading.

How do you do this with coinbase? Any device you recommend?

[Hawkeye]

Originally Posted by bimmer456

Thanks! Yeah as long as the rate is locked in its cool. I've linked my credit card for now not sure if I should link my checking account maybe later. I can transfer funds from my brokerage to my checking account instantaneously so that would be the way to go to invest large amounts and retire early or buy a mansion among other things.

you have to link a bank account or a USD account to sell anything on CoinBase. You can only buy on a CC. The fees (in the US) for buying selling from a bank account is 1.5% while buying from a CC is 3.99% just fyi. You were talking about large purchases earlier.

They also only allow $750 per currency a week from a CC but $10,000 a week from a bank account.

[rad doc]

Originally Posted by Hawkeye

you have to link a bank account or a USD account to sell anything on CoinBase. You can only buy on a CC. The fees (in the US) for buying selling from a bank account is 1.5% while buying from a CC is 3.99% just fyi. You were talking about large purchases earlier.

They also only allow $750 per currency a week from a CC but $10,000 a week from a bank account.

10k is just your limit not coinbase. You can have much higher account limits.

[bimmer456]

Originally Posted by Hawkeye

you have to link a bank account or a USD account to sell anything on CoinBase. You can only buy on a CC. The fees (in the US) for buying selling from a bank account is 1.5% while buying from a CC is 3.99% just fyi. You were talking about large purchases earlier.

They also only allow $750 per currency a week from a CC but $10,000 a week from a bank account.

I'm the thinking about buying more GBTC also but my brokerage is preventing additional purchases. Is there a way to find out which brokerages are allowing it? I may move my money though it appears many brokerages will block this security from time to time. I may have to make some phone calls before I move my money or maybe my brokerage will change their mind when they see how much money I've made them and see me taking my business elsewhere. As far as fees, if it's making money I don't mind. I prefer credit card with Coinbase so there's some fraud protection. I believe the limits can be changed to allow more and the amounts are enough to buy quite a lot over a period of weeks.

[te37]

Originally Posted by Hawkeye

you have to link a bank account or a USD account to sell anything on CoinBase. You can only buy on a CC. The fees (in the US) for buying selling from a bank account is 1.5% while buying from a CC is 3.99% just fyi. You were talking about large purchases earlier.

They also only allow $750 per currency a week from a CC but $10,000 a week from a bank account.

LOL Good luck even getting 10k deposited within a week. Their transfers are SLOWWWW! Even wire to GDAX takes days!

[rad doc]

Originally Posted by te37

LOL Good luck even getting 10k deposited within a week. Their transfers are SLOWWWW! Even wire to GDAX takes days!

True but they lock in rate at purchase so unless you are day trading it doesn't matter much.

[bimmer456]

Originally Posted by rad doc

True but they lock in rate at purchase so unless you are day trading it doesn't matter much.

I'm afraid of the transfer not going through due to some technical reason and the money being lost, as I've heard of this happening. Better to use a credit card so you can get your money back more easily. Most sites aren't working and are down as everyone is trying to buy bitcoin. May have to wait for things to settle down a bit when the price stabilizes before trying to get in.