Crypto Currencies ~ " Duck Tales Spin From The Crypt"

It looks like we are on the cusp of some serious stuff happening. XLM is up 3x the last few days. Link is testing $16 resistance. ETH will be at ath very soon. Fireworks on the horizon. Expect a major correction at some point before the really huge price action, possibly when/if btc pulls back to retest previous ath.

 

IMO. It’s a good way to store cash on the side that you might use to buy dips. Stable coins like USDC gained huge traction yesterday with the OCC’s new ruling that banks can use blockchain and stable coins for bank payments.

if it’s money that you may need in a hurry, keep in mind that it’s usually 3-5 days to transfer it to your bank account.

https://www.forbes.com/sites/hailey...s-and-the-future-of-payments/?sh=6292c8a827e9

 

Is USDC insured/backed by the FDIC like a normal account?

 

XRP run this morning holy moly!

And now correcting lol

 

It depends on the exchange that you have it on. Voyager is insured for example and BlockFi isn’t. You need to read the fine print of the exchange that you’re on.

 

Dot be surprised if we see XRP come back down for one more dip below .20 before heading back up.
I have buy orders set for around .18
We’ll see what happens

 

Which app do you all use to trade on? I'm just using a digital wallet for now to hold my mining earnings and Crypto.com app to buy and sell. Fees seem manageable doing that.

 

Thanks.

Is there a noob's guide to crypto security?

 

Are you talking keeping your funds safe or actual crypto security projects/how things like BTC are secured?

 

Keeping my funds safe. Thanks for asking for the clarification.

 

Well you basically have 4 (well three but 1 broken into two) options. Mostly these are "most secure" to least but its all subjective.

1) Personal "Wallets". These wallets you control. Can be the most intimidating cause if you lose access the coins are gone. There are two types
1a) Software Wallets. Pretty much all "projects" will offer a software wallet. Its software you run on your PC. You can transfer to and from (some offer other options). You generate an address. When you make the "wallet" you will generate a private key. it is essential to not lose that private key and to NEVER SHARE IT WITH ANYONE. Think of it like the password to your bank account. Only unlike a bank account there is no resetting it. Once generated that is all it will ever be.
1b) Hardware wallets. General ledger and Trezor are the two big names to go with. Similar to the software wallets except everything is stored on the hardware. You access your funds by plugging the device in and entering your pin. Like software wallets there is a recovery phrase that is vital you store in a safe place. If you damage/l lose/ect the hardware wallet, you can only recover funds with the recovery phrase.

A good read on them can be found here
https://medium.com/coinbundle/hardware-vs-software-wallets-f03fb4727354

2) Use wallets you log into in say an app. Im not super up to date on these as I dont use them. But generally they just slap a bunch of wallets into nice GUI interfaces. Like Exodus Wallet. Then they protect it with your login and password plus often 2FA.

3) Keep them on an exchange. Considered one of the least secure ways as you dont actually have any control over the coins. Just an account saying you own them. But if its a big exchange like Coinbase, Binance, or Bittrex you are going to be just fine more than likely. But look up what happened to Cryptopia. Wasnt the biggest exchange but still had a lot of volume/$. Hacked one day and poof everything for the users is gone. The Nicehash hack (although mining related) is another example of what could happen when you dont have the coins in your own wallet.



No matter what...use 2FA.


Hopefully that makes sense. Kind of wrote it while doing others (inbetween waiting for glue to dry) so might not make perfect sense lol

 

I use Coinbase Pro, Binance.US, voyager, and uphold to buy and sell on.

lol. There might be somewhere out there. Typically if you’re using one of the big exchanges, you should be good but always do some digging to make sure they are insured if you’re going to keep cash in usdc. It’s best not to put all your eggs in one basket.

First rule major in crypto security is never give out your private keys or 12/24 word seeds to your wallets. There’s lots of scammers and phishers out there and it’ll get worse as the market goes up.

 

hope some of you bought MARA..

 

Got a bunch of MARA, HVBTF, and threw some at DIGAF to gamble. Long story short, I’m buying myself an expensive lunch today

 

I'm to new to know this. Sigh.

 

OK, anyone know what just happened? I know btc hitting 40k was a pretty big selloff point for people, but why is everything else dropping like a rock too.

 

BTC is becoming huge now. Probably effects a lot of things now

 

What is goin on with Coinbase and ETH today?

 

Coinbase went down for a bit last night. Looks like the same thing is happening again. The timing sucks.
Come to think of it, with coinbase and kraken down, I wonder if they are big enough to cause a panic in the market?

 

Probably I read Coinbase will stop the transactions of XRP after Jan 19th due to the Ripple SEC Lawsuit