Coinbase

[QuarterMillionMan]

No secret, I randomly check and just coincidence I guess.

[james.hendrickson]

James, I wasn't sure you'd see my post about KAVA so sending you a quoted message to ensure that you get it.

Got it - thanks QMM. I check earn and learn every day, but it seems like you are a step ahead of me here. What's the secret?

[QuarterMillionMan]

QMM - good catch. I had checked coinbase this morning and didn't see the drop.

Okay...so here is another site if you want to pick up a bit more free crypto.

This company P00ls helps digital creators make their own currencies.

https://www.p00ls.io/?locale=en

How their model works is DJs, models, musicians, etc, all issue their own crypto, which is used to get access to the creator's work, concerts, etc.

Most of the coins are probably pretty worthless, since they're pegged to the economic and popular success of the infliuencer, but some might be worthwhile. The key thing is they are giving away small amouts for free if you want to grab some.

James, I wasn't sure you'd see my post about KAVA so sending you a quoted message to ensure that you get it.

[QuarterMillionMan]

James learn & earn $3 on KAVA, get it before it's gone.

[QuarterMillionMan]

Not really, but it’ll cost an extra $100, I need to go back to the drawing board.

[disneysteve]

My thinking is instead of having just 1 key (Ledger), having 2 keys (a Ledger and a Trezor).

Would that be safer in some way?

[QuarterMillionMan]

My thinking is instead of having just 1 key (Ledger), having 2 keys (a Ledger and a Trezor).

[disneysteve]

Correct the Ledger is not the only access to my cryptos. Another dilemma I'm debating is that I still have $6000 in bitcoin at Coinbase and $3000 in bitcoin at Robinhood. I intend to transfer most of that over but I didn't want to put it all on the Ledger (putting it all in one basket so to speak). So, I'm thinking of getting a Trezor to put those remaining bitcoins. But just like having too many bank accounts or stock brokerages which I'm trying to consolidate, not sure if I should keep spreading it all over the place but I guess it's a good problem to have.

If Ledger isn't actually where the crypto is "stored" and you maintain access to it even if Ledger shuts down, what difference does it make? What do you gain by spreading it out to different Ledger-equivalents?

[QuarterMillionMan]

Correct the Ledger is not the only access to my cryptos. Another dilemma I'm debating is that I still have $6000 in bitcoin at Coinbase and $3000 in bitcoin at Robinhood. I intend to transfer most of that over but I didn't want to put it all on the Ledger (putting it all in one basket so to speak). So, I'm thinking of getting a Trezor to put those remaining bitcoins. But just like having too many bank accounts or stock brokerages which I'm trying to consolidate, not sure if I should keep spreading it all over the place but I guess it's a good problem to have.

[QuarterMillionMan]

I had wondered what if Ledger goes out of business could I transfer my bitcoins to another hardware wallet such as Trezor. This short video says yes. And it explains that the Ledger is basically a key and the cryptos are actually stored on the blockchain so losing or damaging the Ledger won't lose the cryptos.
What If Ledger Goes Bankrupt And You Need To Restore Your Funds? - YouTube

[disneysteve]

If the Ledger which is the USB device is lost or damaged, I do have a 24 word pass code which can be used to retrieve the bitcoins using a new Ledger device.

So that one device isn't the only copy or access, right? That makes more sense. Entrusting everything to that one little device would be a recipe for disaster.

[QuarterMillionMan]

Can someone smarter than me explain it but yes disneysteve all of your above points are valid. If the Ledger which is the USB device is lost or damaged, I do have a 24 word pass code which can be used to retrieve the bitcoins using a new Ledger device. It's complicated someone else please explain it so I can get a better understanding as well.

[disneysteve]

Cold storage is the safest way to store cryptos but feels weird having $11,272 on this little USB device.

Am I understanding you correctly that your crypto is actually stored solely on a USB thumb drive? If so, that sounds incredibly irresponsible. That device could easily get lost or damaged and then what happens? Or is the USB drive just a backup copy in case something happens to the original online somewhere?

[QuarterMillionMan]

Cryptos have been ratcheting up recently, anyone else making some good gains. Cold storage is the safest way to store cryptos but feels weird having $11,272 on this little USB device.

[james.hendrickson]

QMM - good catch. I had checked coinbase this morning and didn't see the drop.

Okay...so here is another site if you want to pick up a bit more free crypto.

This company P00ls helps digital creators make their own currencies.

https://www.p00ls.io/?locale=en

How their model works is DJs, models, musicians, etc, all issue their own crypto, which is used to get access to the creator's work, concerts, etc.

Most of the coins are probably pretty worthless, since they're pegged to the economic and popular success of the infliuencer, but some might be worthwhile. The key thing is they are giving away small amouts for free if you want to grab some.