I Bought a Cold Wallet :)

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Bitcoin to the moon. Well, I cannot predict when and how but I can guarantee that it reaches 13K USD today. I was looking at the price surging early in the morning and by the afternoon, my slippery fingers were itching. I could not resist myself when the price reached 12.8K. I was also scared that the price would tank after it reached that height. I never expected that it would go higher but I sold the few coins I saved for the last couple of months. I remember I managed to write a post on @leofinance when I made that purchase.

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Now, the journey begins. What a great way to celebrate the trading day as I received my online order today. I purchased a Ledger Nano S and it was delivered today. The irony is I don't have any BTC to store in the cold wallet. I will make more purchases for sure.

The intention is to purchase and store BTC. I was always confused when I should invest in a cold wallet.

How much do you think is an amount in BTC that would be risky to keep in a hot wallet?

For me, it is the amount you think you cannot lose. The threshold could be different depending on the type of traders/investors you are. I am a newbie and even 1K USD is a large amount for me. Regular traders who want to hold their asset to trade in exchanges may want to raise the bar.

I am happy that I have this toy to play with. Hopefully, this will give me the confidence and reason to buy and hold crypto. For now, I made some profits but that is not the end goal.Going forward, the target is to trade and invest.

Do you own a cold wallet? Do you use it frequently?

I know @complxty does not :P

Posted Using LeoFinance Beta



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9 comments
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(Edited)

Hahah I tried it but got too nervous. I will make it a point to start using it though, hopefully soon that way I can get used to it before the next moon cycle lol. It’s sitting on my desk!

Good choice in wallets in my opinion though, they are not that expensive and the app is pretty easy to use. The only challenge is if you own multiple assets. The one I have isn’t very large so I tried to download a bunch of the major coins to it but it ran out of storage so I had to delete them lol not sure of a way to get around that.

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:)
I have to play with it. I bought it on Amazon when it was 25 $ cheaper. Prime day perks. I am planning to store BTC and ETH in here. Others, I will need on the exchanges. Let's see.

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I use ledger nano s for as many cryptos as I can.

I use it quite often for eth, icon stacking and recently zilliqa stacking/zilswap.

I havent experienced any issues and am happy to know there is an extra layer of security.

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I am planning to use it for ETH and BTC. Other coins, I don't mind them in the exchanges.

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I have bought the same for my son's 14th birthday... Instead of a piggy bank, this will be more useful... :)

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He started pretty fast then :) Nice selection of a gift to be honest. It will definitely be more useful for his adult life :P

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I really hope that BTC and ETH that he has now, will be useful when he grows up... :)

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