Thanks everyone for taking so much time in helping me! It was very much appreciated. I had a lot of thinking to do

 So yes you did understand perfectly what I was asking   but the last sentence kind of confused me. So are you saying keeping it on an exchange is a good thing or a bad thing?

“Perhaps you believe that each bitcoin has a private key. That is not how it works. In simplest terms, an address holds bitcoins and an address has a private key.”

 Absolutely I thought that each BTC, LTC, ETH, etc,et, had a key???  That’s just kind of blew me away!!!

Kind of...  but I understood your explanation the best   I guess maybe since I don’t actually use them for anything other than investing then none of this really applies to me is what you’re saying? But if I buy things or do other things with them, then the keys are essential??

I mean I’m sitting here thinking, reading all of this research about how coinbase is almost virtually unhackable, because they store the keys in an underground vault that’s inaccessible and has never touched or will touch the internet.  But if what they are storing is not needed to cash...

OK so after reading everyone’s replies this is what I get out. At the point where I buy and keep them at Coinbase  or send them to another Coinbase account the keys are never involved. But if I decide to send the coins to another exchange, then the actual keys are in fact sent at that point? So that means if somebody were to hack into my account and transfer the coins to their account, then at that point the keys ARE sent along with it?

So my understanding is not correct and my “keyless” concept ONLY applies to me keeping it all local on the Coinbase exchange, correct?

Then if that is all correct, the only question is why does Coinbase tell me I cannot get my keys?  That can’t be true then and that’s what made me think the coin‘s were not sent with the keys because they say they’re not available to me?  But they are available to absolutely anyone else when they are sent?

Don’t really have a good understanding on all this stuff as far as the actual mechanics behind it. But something just really doesn’t make sense to me and it seems very amiss.

Let’s take Coinbase as an example. If coinbase is only a hosted exchange and doesn’t actually have the keys available, as they are held in cold storage, then what good are those keys to begin with if they are not required to convert to cash?

If someone was to hack into my computer and take control of my account and transfer my coins out, they don’t have the actual keys, they just have the coins that are keyless, yet they can trade those coins without the keys and cash them in.

So what the heck good are keys if I don’t need them to convert to cash? They seem to be totally useless if somebody can just steal your keyless coins, put them in another account and then convert them to cash without even NEEDING the keys. That seems like a major flaw to me??

I'm with you my friend and I started buying when it hit $7800.  The good thing is, as it drops another $1400 like it just did, as long as you go ahead and buy MORE, you can cut your losses dramatically. Of course we don't want to follow that zero..

2/3 of the problem is the freaking media and idiots like above with the warnings about cyrpto Armageddon which scares and stops more people than it should in their tracks! Me?  I'm not going to miss another chance of getting rich even at the sake of losing it.

The pain of losing my ivestment will be MUCH less than the pain of not investing and knowing  for the rest of my life I had another chance but didn't want to risk it..

I've been reading these warnings not to buy so long I just ignore them. Almost as much as I ignore what ripples going to do

But this particular guy?? He really takes the cake with this absurd and ridiculous warning because its based upon absolutely NOTHING, other then a thought process that you should wait until you buy it AFTER it becomes well-established.

WARNING!!!! DONT BUY MICROSOFT FOR $1 A SHARE UNTIL IT BECOMES POPULAR AND WELL ACCEPTED BY EVERYONE!!!

Yeah right, great advice, don't touch it until it goes back UP in price and stabilizes. Don't buy it while it is low!!!! What a ridiculous strategy. Once anything stabilizes we know that it safe(R) to buy. But once it stabilizes it's has also reached its value and no longer becomes a great investment, just a mediocre one that pays very profit yes, but very little.

Just another dumb crap trying to act like an asspert.

Absolutely disagree. Most of the posts here seem to be people that are buying into the rumors but have no actual first hand knowledge of what they are saying is accurate. TRX is not a good buy. It's a GREAT BUY. Just don't go full retard and be willing to wait few months. Personally I think at the current price, it's a no brainer to get some. Time will tell. Other websites if you posted that question, the replies would all be YES. This seems to be a particularly anti-Tron crowd here

Advice here to buy XRP??? That tells me too much buying based on hype and rumors.  XRP has been hyped over and over and over and yet?? I say let it speak for itself. XRP isnt speaking... TRX HAS spoke more!

No one puts together the team that Justin has if the coin is a fluke.  And the talent that he has hired would not be joining his team if the coin was a fluke.

That's the number one sign this coin is getting ready to do things. The list of people that has joined Justin are in the TOP of their field. He has had some of the most well known and respectable talent in the field join the Tron team. And not just one or two. DOZENS.

This coin is being hyped as a loser so the price will go down and others can buy low. Do your research and you will see what I'm saying is true. Don't take my word on it or anyone else's.

IMO, there aren't too many  better deals in the market right now than TRX at it's current price. This is a "get rich" coin.  The coin is currently ranked number 14.

Justin has a constant presence on Twitter.  Has been in Forbes. Really going to say TRX is a joke with this talent??  This is one of the most undervalued coins available!

My overall advice to you would be to not come on to a website and ask "others" their opinions about a coin. All you are going to get is a minuscule sampling of a few peoples opinions that don't represent even the smallest  recognizable fraction of the people out there buying a certain coin.  And then you will allow yourself to be influenced by a couple of post giving YOU advice about YOUR money.

These people telling you what to buy or what not to buy, how successful are they? Did they just retire because of what they made off the market? You don't know anything about these people. Formall you know they live in a one bedroom efficiency and barely making ends meet and throwing out advice to YOU about what's good and what's not!

 

Sorry I didn't get a notification that somebody posted. Thank you for bringing that to my attention and yes, I do find that somewhat deceiving.  Best to just say you can ask your questions here and it's also a thread I created for  referrals if you're interested.

 I made that mistake once before and it will always upset me.  Very first purchase I ever made was a month ago or so and bought 15 LTC at $176. Week later it got close to $400!!!  Being new and not knowing any better I didn't do anything just figured that's the coin world.  Had I actually studied the coin that I just bought instead of only buying it because it was the cheapest going on Coinbase I would've realized that was an all-time high and sold it for a nice tidy $2,000 profit.

 It's amazing how much I have learned in the last 30 days and still have so much more to learn

 I guess what's throwing me is what I had understood ( which is wrong of course that they consider depositing the money back into my checking account "selling". So I had the coins in Binance and I paid a "fee" I guess to exchange it to Coinbase. So now my coins are sitting there and I say "hey, let's deposit it back into my Acct"

Don't ask me why, it's stupidity on my part, but for some reason I never thought that was actually selling!  Came from the notion that I was doing a lot of buying and selling but never cashing it out. I would sell, but the money would go into the account and then I would buy something else with it.  At that point all the fees are paid unless I want to buy something else.

So Lesson is learned.  Cashing out to put it into your checking account or buying something else is the exact same thing and for some reason I just did not think of it like that.  For some reason because it was already in my Coinbase account all I was doing was " depositing my LTC into my checking account with all fees previously paid"

In retrospect it was a pretty dumb way to look at it because obviously I need to sell the coins in order to convert it into cash...

CRAP!  Now that means I need to Learn to read.. LOL

 You need to practice your reading skills, I already addressed that 1.5 % in my first post... and that's NOT a buy sell price because it was already purchased and sitting in my wallet!

 Actually yes something is wrong. I went back and looked at one I did a couple weeks ago I forgot all about as a test and there was NO fee at all

 I tried to post a screenshot but I guess that option isnt open.
Says sold: 6.58 /$1801.81
Price $277.97
Payment method: My bank
Fee: $27.25


 I was even more shocked they only took 24 hours

I'm not sure what you mean. It was pretty simple. I hit sell LTC from my Coinbase account, chose deposit money into my checking account..  all over.
Of course  I did it in USA.

 I wonder how many people know about this? If most people are like me the money stays somewhere other and not many people are depositing the money back into their checking accounts so it may not be more widely known.  That sounds like a terrorist kind of charge. Like they're holding your money hostage. Well if you want your money back you HAVE to pay us a "release hostage" fee

Thanks for sending that link because I was unaware of it myself. I have made 100 different buy/sell back-and-forth from Binance to Coinbase and the fees are not even worth mentioning they were so cheap.  It's why I had a heart attack when they charged it.
 
I find that to be totally unacceptable!  Just ridiculously high!

I'm not sure what you're saying? Other than maybe you consider 10% negligible?  I do not I think that's extremely high to sell.

 It's the first time I have sold! So do they really, seriously charge TEN freaking percent to sell?  Oh my god that's a lot of money!!!!  So if I happen to hit it big and I want to sell $20,000 worth, CB is going to take $2,000?  That sounds like highway robbery to me.

I sold 6 LTC and deposited it back into my checking account. Was $277 LTC and deposit was $1800. Fee was $27.25??? WTF??? Website says ACH deposits are free? Are they charging to convert the money or something because I already paid the fees when I put it in there to begin with.

It's either 1.5 percent checking account fee or a whopping 10 percent LTC fee. Since it was $277 and $27 assuming it's a 10% which is outrageous!