RockyP
Member
Kicking myself for passing on it for the 2 seconds it was available
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Yeah me too. Fucking Coinbase takes 1 week to clear funds. Now I've got to keep a couple grand on the platform at all times for emergencies.
AllGoodThings
Member
Are you buying with a debit/credit card? I'm not sure if it's the same for everyone, but I linked my checking account to Coinbase, and my crypto purchases are instantly available after being purchased. I buy on Coinbase, send to my personal cold storage wallet, and send to sources from there.
You sure it’s not other way around ?? Coinbase holds my funds for 5 days if I purchase with bank, and instant if I use a card
I regret only buying 2 when they were 120! Yesterday I went back to load up on more TC250, and what do you know.. sold out. Next time im dropping a bag
AllGoodThings
Member
I'm positive as it applies to me, yes, but there may be other factors involved beyond payment method that can affect timing of funds availability.
Interesting. Maybe they only did that because it was my first purchase. The fees were lower than other quick exchanges but they held my funds for almost a week so I had to go through a couple other methods to get a purchase through in time.
The silver living is now I have a good chunk ready to go incase something comes up
AllGoodThings
Member
Yeah, it might have something to do with the fact that I've been with Coinbase since mid 2017, and have gone through all their verifications. I would advise against sending anything directly from Coinbase, or any other KYC exchange, directly to any of the sources here. You'll likely get your account locked. I use a cold storage device to send from, some use hot wallets like Exodus.
Yea that’s probably it. I’ll try again eventually. I’ll just be more proactive with timelines
100% I learned early on to never send directly from CB, CA, or other KYC exchanges . Too many ban stories. Cold wallet definitely the way to go
Direct from checking account.
And I pay for "Coinbase Pro" or whatever.
I don't think it used to be this way for me. Back in 2020/2021 when I had a minor drug problem, I was buying drugs off dark net markets all the time. And I would buy on Coinbase, send to Kraken, buy Monero, then send to my personal Monero wallet.
Who knows.
What do you use for a cold wallet?
Is there a preferred open source initiative like with Monero?
Cold storage wallet rec plz
AllGoodThings
Member
I use Trezor and Ledger, both have been good to me.
Ghoul
Member
Did you use debit card with them before?
I used to fund instantly, and now only bank transfer works, nobody can tell me why debit cards from multiple banks no longer work on Coinbase. Spent hours on the phone without an answer.
AllGoodThings
Member
Good choice, Trezor has been an industry standard for a long time now. I've had mine for at least 8 years. Be very VERY careful with your recovery seed/wallet backup info. I have 3 hand written versions; one in my safe, one in my parents safe in a different state 1000 miles away, and one in a safety deposit box. Some people think if your specific Trezor is broken/damaged, you lose your coins. Not true, any Trezor can be utilized to access your coins, if you have the recovery seed. Protect it as you would a large amount of cash. Don't store it electronically (no email, no Google doc, no word document, nothing on any device). Some feel safe using air gapped devices, but I still wouldn't.
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Sounds like I need to get a safe and a safe deposit box.
Honestly, the one I had on file expired and I was too lazy to put in a new one. I didn't think it mattered.
AllGoodThings
Member
Multi site storage is important in case of fire or other means by which a total loss may occur. If you have family or a friend you'd trust with a large amount of cash, they could serve as your off-site storage, and you wouldn't necessarily need a safe deposit box. A piece of paper can easily be hidden anywhere, but a safe is good if you get one with a decent fire rating, and make sure it's anchored very well and can't be easily carried or wheeled off. I actually preferred to utilize "hiding in plain sight" type storage when we'd leave for a month or two to vacation at my parents. I'd take certain items, wrap them in foil and label them various meat names, and store them in our freezer. A safe is a target, and even the best can be opened or ripped out and taken away to be opened off site. Sorry for the rambling, but it's stuff to think about, for recovery seeds and other items of value
No, these are all very good points. Historically, I never believed in keep significant quantities of crypto around, but a solid 5 figure amount may be a good idea so large purchases can be made at will.
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