Re: Please Do Research In what you invest in, Some help for the Starting Investor
Yes. That was very helpful! I'm a newbie so I'm still researching. I wanted to ask you two questions:
1.How do you determine what type of wallet to put your coins in? I know that if you buy Bitcoin, they would go in a Bitcoin wallet. For example, if I bought Stellar (XLM) coins, what wallet would I put it in? Is there a website that tells you what wallet to use?
2. Is Coinbase an exchange site AND a wallet?
3. If I create an ETH wallet on Coinbase, do I also need to use a "My Ether Wallet"
Thank you!
1.How do you determine what type of wallet to put your coins in? I know that if you buy Bitcoin, they would go in a Bitcoin wallet. For example, if I bought Stellar (XLM) coins, what wallet would I put it in? Is there a website that tells you what wallet to use?
2. Is Coinbase an exchange site AND a wallet?
3. If I create an ETH wallet on Coinbase, do I also need to use a "My Ether Wallet"
Thank you!
Ok that is great to hear!!
To answer your questions
1: Wallets are all personal preference, the most important is that they are safe and work!
What I always do if you buy a Altcoin go to the Official website and download the wallet from there.
However there are some multicoin wallets like Exodus, Jax which I hear very good things about.
2: Yes Coinbase is a wallet and you can buy/send/recieve/sell The coins they offer, they are trusted and operate in many countries, but because of that they apply high fees!
3: It is up to you where you keep your Ethereum, What I would do is ask yourself do you want that Ethereum for a long term hold (2-3 years) make a offline myetherwallet and send it there.
Even if you want to spend it or use it often a myetherwallet would be the best choice because you pay way less fees!
You could also check some other wallets for Ethereum I am using Exodus since a week and I really like it, my friend chose Jaxx and likes it as well so its really personal preference where you feel your coins are best kept!
Hope I helped u again
