not ASAP, do your research and plan how to do it you can spread your risk around if you want, keep some on coinbase, some on a hardware wallet, etc. Personally I worry some massive terrorist attack happens and it is discovered it was funded by bitcoin, and the government shuts down the exchanges (or there is a run on the exchanges for fear of that happening and they can't pay out to everyone) A hardware wallet like a Trezor of Ledger has a twenty word seed, so if your hardware wallet is destroyed or lost or stolen, you can use that seed to recover what was on it. The seed is ultimately what you need to keep secure (bury it, safety deposit box, etc.).
I just got my Ledger Nano S a few days ago....put most of my stuff on there, but just left some BTC in Coinbase in case I want to make other purchases.
I mentioned the Mayer Multiple earlier, Trace Mayer has a nice video explaining it, really cool bottom line, the Mayer Multiple is at a historically high level and we should expect the price to come down, so don't panic sell
Did I have a little bit of sway in your decision to pick it up Did you guys pick up any ARK as well? That thing has been moving nicely also. I really like and believe in both of those coins.
Glad you got in. They have some of the biggest partnerships with some of the best tech out there. They just jumped into 4th place in the marker with this price pump. I'll probably keep adding positions because I fee like 3-5 years it's gonna be great for us. The only thing, if you haven't read up on it look at the info about the seeds and address of their own wallet because it's tricky and not really well done. People have had stuff stolen because it doesn't automatically generated new keys after each transaction. They are designing a new wallet which should fix that but if you do a search online there are guides. If you only deposit and never send back out your fine but read up to be sure. Since I try to house most my alts outside of the exchange. Hoping for ledger nano to have support soon enough.
Thanks. I learned much from you guys. Is it better then to store IOTA in one of the hardware wallets mentioned by Commodore?
Hardware is always the best and backing up all your seeds etc. But I dint think Iota has support yet for Ledger Nano S or Trezor if I'm not mistaken. They should have support soon enough I'm sure. But also the new wallet for IOTA supposed to be out this month or first quarter of 2018. You pick up any other Alts?
Not sure support for Iota is in the works anytime soon unless third parties get involved. They seem to be willing to help with the latter. The following is from the Ledger CTO just a few minutes ago, and he’s been saying something similar for a couple of months now :
Just to let people know, as I'm seeing the hardware wallet talk: When you transfer your money from an exchange, no matter if to sell or to store it in your wallet, the exchange has to record it as you selling the crypto for money. This means the IRS will see it as a taxable event, the only way of preventing this is for you to keep records of every transaction and every time you transfer a crypto into your wallet, at the price of the transfer time.
Just a reminder for everyone, although I repped ARK in October and still do: You're trading most of these coins for BTC and vice-versa, so don't look at the US$ value. So while Ark for example has gained in dollar value this week, it is a net loss in satoshi/btc and you'd have lost value by not simply staying with btc. Always look at alt-btc value when cashing out or making trades, this is the #1 mistake newcomers do and how many people that thought they'd made profits ended up in a nightmare.
