Post
Topic
Board Bitcoin Discussion
Re: Advice for beginner HODLers
by
Jawhead999
on 11/01/2021, 10:45:59 UTC
I put all my btc in coinbase, is it safe?
Coinbase is an exchanges (third parties), if put your funds in third parties it mean you're trusting your funds with them and you don't have full control about your coin. If Coinbase get hacked in the future, you coin will be lost too.

So, it's not safe... move it to non-custodial hardware wallet.

If you are a holder of a coin or token you need to always monitor the price and the easiest way to monitor the price is to search in google or install some apps that can track the price and the trading volume of the coin or token that you are holding, it is important to take a look at the price of the coin that you are holding because the profit is always depend on the percentage of the price that is risng.
The advantage of using some crypto app that can track the price is that you can see what coin or token that is fast moving or has a high in trading volume on exchange.
You're a holder not a trader I don't think you need to keep monitoring the price since you're hold for long time. It doesn't matter if the price drop or raise since your goals is long term.
If you're a trader, monitoring the price is a must since you aim some profit by buy low and sell high.