Business & Investing
Sponsored by

Bit coin question for Wheelskim

1,633 Views | 4 Replies | Last: 6 yr ago by GreasenUSA
Cancelled
How long do you want to ignore this user?
AG
I've got a coinbase wallet and an account with coinbase. What would happen if coinbase were to go under? Considering my crypto is tied in with their proprietary app, hue would I get my $$$ out?
GarlandAg2012
How long do you want to ignore this user?
AG
Transfer it to another wallet that you control. Then when you want to exchange it to USD transfer into the wallet of the exchange you want to use or the person who is handing you the cash. You can also transfer coins from your wallet to a merchant if you choose to spend your BTC for goods and services.

https://www.reddit.com/r/BitcoinWiki/wiki/security_guide

http://www.coindesk.com/information/paper-wallet-tutorial/

There is nothing proprietary about Coinbase's wallet. You can send from it to any other.
wheelskjm
How long do you want to ignore this user?
AG
https://news.bitcoin.com/bitcoin-bank-less-thirty-minutes-usb-drive/

Coinbase, and any other soft wallet provider, is "like a bank without FDIC" (they do have an insurance policy I read) your crypto would most likely be unrecoverable, like mine in Cryptsy when it went down. It would be "lost money" at that point.

Ifyou setup a hard wallet, make sure you send a small bit first and verify it went thru and your addresses are accurate.
agnatgas
How long do you want to ignore this user?
agnatgas
How long do you want to ignore this user?
AG
GreasenUSA
How long do you want to ignore this user?
AG
This is the one I used:

Exodus
Refresh
Page 1 of 1
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.