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thanks guys! Interesting that the commissions are a % of the trade from several places not just from Coinbase
And don't know these companies - will they be there to make a withdrawl : ) can they get hacked?
Not worth the troubles!. Yeah, lots of stocks / stick with what I know.
Take care!
You shouldn't be leaving ~$31K on an exchange, IMO. If the exchange were to get hacked you could be left holding the bag like Mt. Gox customers. Have you looked into using a wallet to transfer your bitcoin? I'd recommend something by Ledger or Trezor.
You shouldn't be leaving ~$31K on an exchange, IMO. If the exchange were to get hacked you could be left holding the bag like Mt. Gox customers. Have you looked into using a wallet to transfer your bitcoin? I'd recommend something by Ledger or Trezor.
I think I am done with bitcoin for now. I hate spending more on commission than I think I should. a % of the sale seems wrong (coming from a stock trading / flat rate - now free commission model.
Yeah, payment for order flow vs. getting good execution muddys the water, but that $150 I got charged to sell $30K at the market seems too high.
And I've dealt with (or tried would be a better word) coinbase customer service. which was crap. can't in good faith pay for that!
Ken - insurance.... that's another issue for me. insurance companies don't want to pay out. There's so many ways they could get hacked / robbed. And I would bet that there's situations you would think would be protected from that you / they aren't.
Like business interuption insurance. Restaurant's businesses were interrupted because of Covid. People would think they were covered? Yes, some had specific exclusions for viruses. But even if it didn't, and policy lists fire, flood, etc.... 'well that isn't covered - you didn't close because of this, but because of that.
You weren't hacked because of this (covered method of attack), but because of that (uncovered method).
employee selling access vs. employee stealing passwords, etc.
And as a layperson, people don't know what they don't know?
Call me jaded : )
I DO hear about people that supposedly pay some trivial premium for 'cyber insurance'. and got ransomware or something else and insurance pays out.
I go looking for cyber insurance and the premiums come in much higher, don't include this or that.
And even if it covers ransomware, I still think they will say 'yeah, but you didn't do this or that.... ' the responsibility is for you to protect yourself somewhat. You think you did, but not good enough. and you don't find out till you need it?
Can't leave stove burners on all the time... then likely don't get paid if house burns down.
There is another alternative. You can buy GBTC in your broker account. It's a bitcoin trust that trades on the OTC market. But there's a 2% expense ratio, and it often trades at a premium to the price of bitcoin. Although last week it was trading at a discount. It's a good way to get exposure to bitcoin in tax advantaged accounts as well. Eventually we may have ETFs for bitcoin in the U.S., there was one that recently began trading on the Canadian market.
A $150 fee is nothing in the world of Bitcoin and crypto where your position can rise hundreds or thousands of dollars per day. If you are trading constantly, then yes the fees will kill you. If you are a buy and hold investor it shouldn't be a deterrent.
A $150 fee is nothing in the world of Bitcoin and crypto where your position can rise hundreds or thousands of dollars per day. If you are trading constantly, then yes the fees will kill you. If you are a buy and hold investor it shouldn't be a deterrent.
Yep. There are other trading platforms with no fees but are riskier. If you're a certified day trader it makes sense to use it though because you can claim unlimited losses.
The digital age is ushering in a whole new asset class, between NFTs and the networks that power them, we will see some amazing technologies and services emerge.
Great interview with Beeple.
Beeple, who just sold an NFT for $69 million, talks about the other ways we can use the technology
No one seems to have the answer-what happens to crypto when the light goes out?
We in TX have no electricity for days,what if crypto is a medium of exchange,how do I shop for grocery ?or get a plumber to come and fix my broken water pipes?
Or take them out of an ATM and run from Kuwait to neighbor countries?
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A new asset class for Millennials and younger
