Post
Topic
Board Exchanges
Re: Coinbase & bittrex need to make it safe
by
Kemarit
on 02/09/2017, 18:04:16 UTC
I really want to apologize I'm just not that good at computers. I have ETH with Coinbase and i moved some over to. Bittrex  and now I'm going to buy some less expensive coins.  All that is going well I'm trying to figure out what is my best way to get this out of the exchanges because everyone says there not safe. I know this is been asked before but I feel really lost.  when you take coins how to put them off-line ?paper wallet?
 Is there a cost that the exchanges charge you for moving them in and out ?

First the reason why we don't to put ETH in a third party like Coinbase because if you don't have control of your private keys then its not yours. Plus if a possibility of a hack, then you will lost all your coins. So to be safe, specially if you have a lot of funds in an exchange, to transfer it to a wallet that you have control of the private keys. But it is safe to put a small portion in there, just for your trading practice and activity. For ETH, https://www.myetherwallet.com/, although there is also a hack that happened before if I'm not mistaken. You just have to be very careful. You can go offline to create your wallet, then generate a private key, store the private key somewhere safe and for added security, put a strong password.

And yes, their is a fee whenever you move your funds out of a trading platform.