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Thread: Cryto Hot Wallets and other good coins

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    Thumbs up Cryto Hot Wallets and other good coins

    These are my personal recommendations as I favor these.

    Coinbase is well known and it is made for beginners. When I first started in 2017 or 2018 during the last halving or crypto bull run, I remember the fees to be much lower. Its nice they're adding good coins that may have to otherwise be bought or exchange through uniswap which can be a real pain. Currently there's automatic staking for Tezo's and OMG Network I think.

    Celsius Network will give you automatic staking. Its like a savings account and if you want to be more impressed, you should check out who is actually in charge of the network. To get CEL crypto, it has to be done through uniswap.

    Crypto.com aka MCO or CRO wallet. Sadly, US users cannot utilize the exchange on the web but you can utilize its app to buy crypto. Crypto.com offers term staking which allows you to lock your crypto up for a certain amount of time for a certain amount of interest. They have a list of pretty good coins for US residents but still envy those who are non US users since they have a larger list of cryptos that they can purchase. Know that there is a 10% international fee when purchasing from the CRO wallet if you're using your debit card. ACH transfers costs nothing but will take 3-7 business days for funds to be available.

    Metamask is its own thing. It is a hot wallet where you store ERC 20 coins. Its made for a more advance crypto investor who know what they're doing. The wallet is defaulted with ETH on the list because ETH is used as gas when making exchanges on uniswap or transferring other crypto assets.

    I suggest y'all take a look at SOL (Solana) coin and check up who their team is. You'll be impressed. And it can be traded on Binance.
    CEL (Celsius) is also a good coin. I had bought into it when i was as low as .16 sometime after the covid market crash.
    Do be warned about YFI (Yearn Finance) when I first saw that thing on coinmarketcap it was at 1200. If you want to make a quick buck, YFI is the way to go. But this past week, it went as low as 13-14k and now it is currently back up 19-20k range.

    I have a lot more to list but will get back to it later when I find it. I would also suggest y'all to check out Bitboy Crypto on youtube. The guy is pretty legit with his research and will keep you updated with the crypto space. Best of luck and happy investing.


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  3. #2

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    Default Re: Cryto Hot Wallets and other good coins

    What are you using for a wallet? What about the fees associated with transferring from exchange to wallet? How do you keep your cost basis for the tax man?

    Quote Originally Posted by HeadNLice View Post
    Its made for a more advance crypto investor who know what they're doing.
    Most often times it's the person that keeps it simple that is the advanced investor.

    Might sound 'noobish' but I think coinbase is the best game in town for Americans.

    All these new 'coins' are trying to be more niche than the last with more fail safes than the others. The more complex things are, the more complex they are to understand, the more things that can go wrong.

    I'd be surprised if 10% of these coins survive 10 years but for now bitcoin seems pretty stable. I do own BTC and two very small stakes in CELO and XLM.

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  5. #3

    Default Re: Cryto Hot Wallets and other good coins

    Quote Originally Posted by Bullitt View Post
    What are you using for a wallet? What about the fees associated with transferring from exchange to wallet? How do you keep your cost basis for the tax man?
    That part, I am still trying to figure out. But I think during tax time, you download the CSV file and hand it over to the crypto tax specialist to do the cost basis I think. But yes, coinbase is the best for Americans for now until they learn about staking and other stuff that will help them make passive income. I use Metamask, Coinbase, Crypto.com, Uphold, Binance, Bitmart, and Celsius wallet. I haven't paid any taxes for crypto ever since I started 3 years ago but I think its something to pay attention to now. I'm still trying to figure it out on my own and doing research and all on how to file it. I only know of what I made from staking and have not sold any of my cryptos. They keep record of that in the crypto.com and Celsius network or wallet. I'm grateful that coinbase keep tabs on it so it would be easier to file?

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