ID for Opening Account

Z

zargor

Member
When opening a Coinbase account to start buying BTC, there is obviously the question about providing ID, which is either a passport or drive's license photo.

Is there any benefit in providing one over the other in terms of risk? (While it seems easy to load ID onto Coinbase, it still is providing ID over the internet).

I'd like to transfer my purchase from Coinbase into a separate warm wallet (e.g. Blockchain.info) until I get a Ledger Nano 5 (which doesn't look like arriving until September 2017 sometime). I'm assuming I can indeed transfer holdings from a warm wallet to a cold wallet??

While I'm sure this has been answered before, any suggestions as to warm wallets (apart from Blockchain.info) that I can use initially as I don't want to keep my holdings on Coinbase.com?

If I'm only looking at purchasing small amounts of BTC and ETM to start with (i.e. a few hundred dollars worth), would it be best to have 2 separate warm wallets for each type of currency until I get my Ledger Nano 5 and then can I store all future holdings of BTC and ETM on this one device?

From the warm wallets (and in future, my cold wallet), I would then like to transfer funds/holdings onto an exchange to purchase further holdings and then, once again, transfer these holdings back to my wallet.

I've heard that Poloniex is an actively-traded exchange (although my purchases are really for long-term holdings) and doesn't seem to have onerous ID requirements, but would people have other recommendations of reputable exchanges?
 
LOL, yeah there's a mistake you don't want to be making on an exchange at all.

You can exchange BTC directly with a few online exchanges but your best bet is to get the Exodus wallet, which in my experience has the best rates and saves a hell of a lot of hassle.

For one thing it is a simple one step exchange, you simply hit the exchange button, chose what you want and click a button and then sit back and wait.

Instead of transfering BTC to an exchange = Transaction fee, then stuffing around with a buy order (and possibly making a mistake) which eventually= two fees, from both your BTC buy and then from the other end when you get whatever you are after such as ETH, and then another transaction fee when you go to withdraw to your wallet again from the exchange as well. And then there is the time it all takes as well.

Exodus give a better exchange rate than Shapeshift and Changelly and you also have the option of LTC and a few others as well.

It is a nice secure wallet and very easy to use with more coins coming as well.
 
Wow! That bitcoin.com.au looks like it does make things very easy,, allowing you to pay with cash.

Any ID requirements from either that website or say the newsagent?
 
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