Question about making purchases with BTC?

[vinniedabeast]

I opened a coinbase account and purchased BTC. My question is that if I were to make a purchase, let's say from serenity, is it safe to make that transaction on coinbase? Or am I to transfer that to a personal web based wallet before making a transaction?

 

[player72]

The latter. Never pay a vendor or market directly from an exchange wallet. It's not only bad opsec but also a quick way to get your exchange account shut down.

 

[vinniedabeast]

The latter. Never pay a vendor or market directly from an exchange wallet. It's not only bad opsec but also a quick way to get your exchange account shut down.

Which wallet do you recommend?

 

[rcchem66]

I am very happy to see this post. This is also a topic that I am more concerned about recently. I hope my customers can know this.

 

[player72]

Which wallet do you recommend?

I use Electrum myself and it has worked well. I am sure there are other good ones but the most important thing is to make sure to get it from a trusted source.

 

[alixjones2018]

Which wallet do you recommend?

I use blockchain. Maybe it's just one of those cases where I learned my BTC on blockchain so I think it's the easiest. I buy in X, then transfer to blockchain. Learned that hell of buying and sending out of the same wallet. NOPE, nope, never again!

Good luck!

 

[vinniedabeast]

I use Electrum myself and it has worked well. I am sure there are other good ones but the most important thing is to make sure to get it from a trusted source.

You can transfer from your coinbase wallet to Electrum? Just wanna make sure, I am still very much a noob at this

 

[player72]

You can transfer from your coinbase wallet to Electrum? Just wanna make sure, I am still very much a noob at this

Yes - there are a number of good tutorials. Best way IMO is to transfer a small amount of money (yes, there are transfer fees but small price to pay to make sure you have a handle on how it works) from exchange to Electrum wallet then make some small purchase from the Electrum wallet. Once you have a feel for how it works, you'll have some comfort when doing more substantial transactions.

 

[soupson]

i know this is probably a stupid question, but would it be pointless or ill-advised to send from coinbase wallet?

 

[player72]

i know this is probably a stupid question, but would it be pointless or ill-advised to send from coinbase wallet?

Not necessarily pointless since the coin would arrive but definitely ill-advised. If you search around a little you'll hear from people who had their Coinbase accounts abruptly closed after making payments they didn't like directly from their exchange wallets.

 

[soupson]

Not necessarily pointless since the coin would arrive but definitely ill-advised. If you search around a little you'll hear from people who had their Coinbase accounts abruptly closed after making payments they didn't like directly from their exchange wallets.

thank you!

 

[LittleDabbie420]

The best part of all, It cost you money evertime you wanna move the fucking coin!

Buy coin, FEE, Move coin, FEE, Move coin again, FEE!

OOOOOOOOO i love bitcoin its sooooooooooooo GREAT for people who collect the god damn fee's it is.

 

[Dr-Octagon]

I use cakewallet. Xmr to cake. Flip it for btc if needed

 

[Dr-Octagon]

The best part of all, It cost you money evertime you wanna move the fucking coin!

Buy coin, FEE, Move coin, FEE, Move coin again, FEE!

OOOOOOOOO i love bitcoin its sooooooooooooo GREAT for people who collect the god damn fee's it is.

Yo I had to adjust an order because btc fees had fluxed. Fkrs xmr is the better coin imo