I think I I bought a tiny amount of Bitcoin about 3 years ago. After fees, it was about $26 (bucks). Did a little testing to see how this all works and forgot about it. But not before I created a wallet on my computer (to see how that works). And then transferred some money to it. That all worked great.
Now zoom ahead. Of course I wrote my info down on a piece of paper but lost it.
So that tiny bit of money is gone, if I can't find the wallet. I can probably guess the password. But that's not why I came here.
I also had the original $26 in my original account (through a crypto currency exchange). That login info I still have. But I was surprised to see it was over 6 times what I had to start with. And it recently had a high of 7x the original amount. That got my interest.
NOW I have some questions that I should have asked before. Oh well, better late than never.
1) I'm just going to leave the money in that account. And I might buy some more bitcoin (through the exchange I signed up with). But before I do, I need some answers. Fees are high for some transactions. I do NOT want to only use the option of leaving the money there forever, and just buy from that account. Mostly I will do that but there may/will come a day, when I want to cash out. What are the typical (and lowest) fees to cash out, and have money transferred to bank account?
2) Is there ANY way of parking money, during a decline for instance, that just freezes the $ amount you have in an account? Like converting it to USD Cash, and just holding it so that a long decline doesn't wipe it out. Obviously it means taking out of whatever crypto currency isn't in and putting it somewhere. But I don't see a "where" to do that. Obviously, one could begin the process of a transfer but that would cost heavy fees. And I guess one could just convert to another crypto currency that isn't falling. But, in general, is there a way to just freeze the dollar amount you have in one of the exchanges?
3) Kind of off-topic: I'm using coinbase. Every time I login, the website says the password is incorrect, and I have to go through the "Forgot Password" link to reset it. Even then, the next time I try to login, it says the password is wrong again. Why? and how do I fix it. This doesn't happen on my phone, only my desktop. I suspect it's a browser cache thing but not sure.
Now zoom ahead. Of course I wrote my info down on a piece of paper but lost it.
So that tiny bit of money is gone, if I can't find the wallet. I can probably guess the password. But that's not why I came here.I also had the original $26 in my original account (through a crypto currency exchange). That login info I still have. But I was surprised to see it was over 6 times what I had to start with. And it recently had a high of 7x the original amount. That got my interest.
NOW I have some questions that I should have asked before. Oh well, better late than never.
1) I'm just going to leave the money in that account. And I might buy some more bitcoin (through the exchange I signed up with). But before I do, I need some answers. Fees are high for some transactions. I do NOT want to only use the option of leaving the money there forever, and just buy from that account. Mostly I will do that but there may/will come a day, when I want to cash out. What are the typical (and lowest) fees to cash out, and have money transferred to bank account?
2) Is there ANY way of parking money, during a decline for instance, that just freezes the $ amount you have in an account? Like converting it to USD Cash, and just holding it so that a long decline doesn't wipe it out. Obviously it means taking out of whatever crypto currency isn't in and putting it somewhere. But I don't see a "where" to do that. Obviously, one could begin the process of a transfer but that would cost heavy fees. And I guess one could just convert to another crypto currency that isn't falling. But, in general, is there a way to just freeze the dollar amount you have in one of the exchanges?
3) Kind of off-topic: I'm using coinbase. Every time I login, the website says the password is incorrect, and I have to go through the "Forgot Password" link to reset it. Even then, the next time I try to login, it says the password is wrong again. Why? and how do I fix it. This doesn't happen on my phone, only my desktop. I suspect it's a browser cache thing but not sure.