MyCryptoWallet

Discussion in 'Digital Currencies' started by SilverGull, Dec 18, 2017.

  1. SilverGull

    SilverGull Member

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    Hi,

    At the risk of being called a cryptobasher...I'm a complete noob but figured I should get with the times, so did a little research and came across this site which looked like it might suit me:
    User friendly display that even this luddite can use - tick
    All-in-one, from fiat to crypto and back again if needed - tick
    locally based (Melbourne) - tick
    small fees for transactions - to be expected
    Then I saw the spread - approx 35% between buying and selling. Does this seem legit?

    Cheers,

    SeaGull
     
  2. shinymetal

    shinymetal Well-Known Member

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    no. that does not seem legit.
    i use.
    www.coinspot.com.au it's based in Melbourne, 3% buy sell spread. and that is actually quite high.
    but at the same time, the website is laid out really well, simple and functional.

    from what i understand the bigger exchanges have fees more like .3% but i find them overly complex to navigate. and 3% isn't much to pay for convenience
     
  3. southerncross

    southerncross Well-Known Member Silver Stacker

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    Exodus Wallet, holds 18 Crypto at the moment and more being added all the time, Can exchange between the Crypto's within the wallet so you don't need to
    visit exchanges for those Coins. They do charge for exchanges as their done through Shapeshift but compared to fees for sending to exchange, trading and sending back to your wallet they are quite cheap.
     
  4. jerrygold

    jerrygold Active Member Silver Stacker

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    blockchain.info have a good wallet for holding bitcoin that doesn't require identification or anything, and the keys are stored/created in the browser so that they don't know them. Its easier to sign up with an exchange if you want to trade back and forth though, just choose one of the big ones to reduce your risk.
     
  5. Brendio

    Brendio Active Member

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    Make sure you actually hold your keys for your major holdings. It's fine to use a centralised exchange to buy and sell, but don't store the majority of your stash there. Wallets like blockchain.info, Mycellium, Jaxx etc. have support for BIP39, which is basically a list of 12 or 24 words you write down to back up your wallet and from which your bitcoin keys are derived. If your preferred wallet provider goes bust, you lose or damage your phone or computer, or you just want to change software, you can use your word list to restore your wallet to another device or program that supports it.
     
  6. SilverGull

    SilverGull Member

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    Thanks for all the advice. Slowly wrapping my head around it...
     
  7. Silverling

    Silverling Well-Known Member Silver Stacker

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    Well I wholeheartedly agree. I find Exodus so easy and simple to use. I spent all day shifting crypto around and had a few problems. I will say a few were caused by me as I'm fairly new at all this. To cut a long story short, just pay the bit extra and do everything with Exodus, saves getting headaches, cheers.
     
    metalzzz likes this.
  8. metalzzz

    metalzzz Well-Known Member

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    Is exodus for smartphones or desktop? Is it safer to use a desktop?
     
  9. Silverling

    Silverling Well-Known Member Silver Stacker

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    Desktop, from what I have read the order of safety goes, cold wallet like nano s, then desktop and then mobile.
     
    metalzzz likes this.
  10. JNS

    JNS Active Member Silver Stacker

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    Exodus is a great desktop wallet but bit high fees. However, it is users friendly, just need always to fill at least 100usd of ETH to be able to exchange because most of other cryptos are ERC20s. No smartphone version yet as i know.
     
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  11. JNS

    JNS Active Member Silver Stacker

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    One of the amazing wallet i use now in my phone is BREAD.....beautiful and easy to use.
     
    metalzzz likes this.
  12. IfUdonotholditUdonotownit

    IfUdonotholditUdonotownit Active Member

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  13. Oddjob

    Oddjob Well-Known Member Silver Stacker

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  14. TreasureHunter

    TreasureHunter Well-Known Member

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    I was wondering (still in the learning phase): is it possible to store the same wallet on different platforms, locations, like:
    1. in a Ledger Nano hardware wallet (external, USB wallet)
    2. in a downloadable Atomic Wallet (downloadable software)
    3. on an external USB memory (as a Wallet.dat file)

    From what I think it could still be the same wallet, am I right?

    Or do you actually need to make a transfer from one to the other (see options 1, 2, 3 enumerated above) and that leaves you without all the other options?

    I am thinking about this, because theoretically even a Ledger Nano can break (get lost/stolen) and the software wallets have been well-known for losing coins (the software company itself could steal the contents).
     
  15. SULLA

    SULLA Member Silver Stacker

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    That is the reason you get a "seed ,mnemonic phrase" - 12 - 24 words that are your saviour! If your LN breaks, is stolen or lost you can easily re-create your wallets on a new LN (or trezor etc).
     
    mmm....shiney! likes this.

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