Question about making purchases with BTC?

V

vinniedabeast

Member
Joined
Oct 31, 2023
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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?
 
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.
 
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.
 
vinniedabeast said:
Which wallet do you recommend?
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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!
 
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player72 said:
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.
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You can transfer from your coinbase wallet to Electrum? Just wanna make sure, I am still very much a noob at this
 
vinniedabeast said:
You can transfer from your coinbase wallet to Electrum? Just wanna make sure, I am still very much a noob at this
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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.
 
i know this is probably a stupid question, but would it be pointless or ill-advised to send from coinbase wallet?
 
soupson said:
i know this is probably a stupid question, but would it be pointless or ill-advised to send from coinbase wallet?
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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.
 
player72 said:
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.
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thank you!
 
The best part of all, It cost you money evertime you wanna move the fucking coin! :D

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.
 
LittleDabbie420 said:
The best part of all, It cost you money evertime you wanna move the fucking coin! :D

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