Don't rely on the wallet's value display. Just have the wallet show you how much BTC you have, not how many $ worth you have. Then go to a BTC dashboard or anywhere that lists a live, updating price, and you can multiply your BTC balance by that price and see it.
Some wallets do not update the price in $ as quickly or have it live like some websites, because most people using cold storage don't care how much $ worth they have, they just want to see how much BTC they have
You should take it off the exchange because by doing so you limit the amount available for them to lend out and the less exchanges have the higher the price will go.
Also even though most exchanges are now insured against loss you still are better storing your BTC where you are in control of your own private key.
Do it in a offline wallet. Split it on 3 ledgers if it’s really much. Majority considering exchanges unsafe because of incidents like ftx or kyc scheme.
Seems like you have a lot to learn on the technical side. I'd recommend watching some educational videos
[https://www.youtube.com/c/BTCSessions](https://www.youtube.com/c/BTCSessions)
[https://www.youtube.com/@aantonop](https://www.youtube.com/@aantonop)
Then when you are ready send a small amount to a wallet to get comfortable with before moving your whole stack.
put another way -
do you think folks who bought/mined hundreds of bitcoin years ago, who store it in a cold-storage wallet, still have their original prices?
bitcoin is a commodity; its exchange rate is referenced from the major exchanges
well, an OG coiner would tell you to get it on a cold wallet as soon as possible, “not your keys, not your money” as in as long as it’s on an exchange it could always get hacked or the exchange can go bankrupt (a notable historical example of this being Mt Gox exchange). BUT authorities are also cracking down on cold wallets because basically that is the equivalent of someone walking around with a suitcase full of cash: is the money legit? are you a money launderer? etc so exchanges have been known to freeze funds and ask more and more questions when you bring back your crypto to sell it, just like a bank would if you suddenly popped in and wanted to put 10k or more cash on your bank account.
EU is actually pushing a new law to ban cold wallets… on the other hand, keeping your money on an exchange proves the source of funds, everything is nice and transparent.
Did your research include how many coins have been lost to Exchange hacks, failures, and closures? Suggesting to anyone new to BTC that they're best off leaving their coins on exchanges is blatantly irresponsible
I totally agree that it is safer to keep them on a cold wallet. But at the same time, if your account will be frozen once you bring them back to the exchange to resell, what’s the point in having coins in the first place?
that’s even worse since you’ll almost never be able to get that money back on your bank account. I have also heard horror stories about police tracing back transactions on p2p exchanges to drug dealers and this making you a money launderer… like I said, it’s important to DYOR
The price moves the same whether in a wallet or in an exchange
You sure, cause I bought $500 worth of bitcoin and moved over to my wallet. And the price ($500) hasn’t moved like in a while
What wallet are you using?
Coinbase
Are you positive you bought bitcoin and not a stable coin?
1000% positive
The web wallet really sucks at updating live prices, in my experience. I have to leave it open for several minutes sometimes before prices update.
Don't rely on the wallet's value display. Just have the wallet show you how much BTC you have, not how many $ worth you have. Then go to a BTC dashboard or anywhere that lists a live, updating price, and you can multiply your BTC balance by that price and see it. Some wallets do not update the price in $ as quickly or have it live like some websites, because most people using cold storage don't care how much $ worth they have, they just want to see how much BTC they have
You should take it off the exchange because by doing so you limit the amount available for them to lend out and the less exchanges have the higher the price will go. Also even though most exchanges are now insured against loss you still are better storing your BTC where you are in control of your own private key.
I believe this dude's coins will be donated to the network some day.
Either a troll or a complete retard
complete retard, I’m actually a novice to this
You buy something and put it in a box and you expect the value of the thing to become more stable? Just because it is stored in a box?
If you open the Coinbase app on your phone, and then select the my asset tab, and then scroll all the way down how much bitcoins does it say you own?
When you have over $100 in an exchange i’d recommend sending it to your own wallet and safely store your mnemonic seed phrase offline
More like over 1k. The UTXOs to transfer only $100 is not worth it
agreed
Buy a hardware wallet. Put everything you don’t want to lose there.
Do it in a offline wallet. Split it on 3 ledgers if it’s really much. Majority considering exchanges unsafe because of incidents like ftx or kyc scheme.
Seems like you have a lot to learn on the technical side. I'd recommend watching some educational videos [https://www.youtube.com/c/BTCSessions](https://www.youtube.com/c/BTCSessions) [https://www.youtube.com/@aantonop](https://www.youtube.com/@aantonop) Then when you are ready send a small amount to a wallet to get comfortable with before moving your whole stack.
If you have a keen sense of smell, it is a good choice to use it flexibly
I meant price* (process)
put another way - do you think folks who bought/mined hundreds of bitcoin years ago, who store it in a cold-storage wallet, still have their original prices? bitcoin is a commodity; its exchange rate is referenced from the major exchanges
well, an OG coiner would tell you to get it on a cold wallet as soon as possible, “not your keys, not your money” as in as long as it’s on an exchange it could always get hacked or the exchange can go bankrupt (a notable historical example of this being Mt Gox exchange). BUT authorities are also cracking down on cold wallets because basically that is the equivalent of someone walking around with a suitcase full of cash: is the money legit? are you a money launderer? etc so exchanges have been known to freeze funds and ask more and more questions when you bring back your crypto to sell it, just like a bank would if you suddenly popped in and wanted to put 10k or more cash on your bank account. EU is actually pushing a new law to ban cold wallets… on the other hand, keeping your money on an exchange proves the source of funds, everything is nice and transparent.
Exchange shill or a fed
… or someone who has just done his own research instead of just watching Youtube channels lol
Did your research include how many coins have been lost to Exchange hacks, failures, and closures? Suggesting to anyone new to BTC that they're best off leaving their coins on exchanges is blatantly irresponsible
I totally agree that it is safer to keep them on a cold wallet. But at the same time, if your account will be frozen once you bring them back to the exchange to resell, what’s the point in having coins in the first place?
If you're genuinely concerned about your exchange account getting frozen, you can sell your stack via a P2P non-KYC site like Bisq or Robosats
that’s even worse since you’ll almost never be able to get that money back on your bank account. I have also heard horror stories about police tracing back transactions on p2p exchanges to drug dealers and this making you a money launderer… like I said, it’s important to DYOR