[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 85 KB, 590x590, btc.jpg [View same] [iqdb] [saucenao] [google]
24418839 No.24418839 [Reply] [Original]

hey everybody
new guy here!

so after I buy bitcoins from coin base does it automatically send them to my bank or where do you keep them?

much appreciated

>> No.24418881

fuck off

>> No.24418894

>>24418839
not your personal search engine

>> No.24418898

>>24418839
Nigger nigger nigger hehe

>> No.24418924

>>24418881
why? We are now a gang together

>> No.24418926

Kys faggot

>> No.24418930

>>24418839
Anon you're going to get trolled but don't worry, I'll help you. You need to install a btc wallet on your phone, do you know how to do that?

>> No.24418936

>>24418839
Time to sell.

>> No.24418971

>>24418930
not yet

I have the iPhone, mind sharing your favourite iOS wallet?

>> No.24419002

>>24418930
Is something wrong with coinbase? Im new and started with that because its easy

>> No.24419007

>>24418839
You have to send it to a particular address. I'm sure an anon below will help you with the correct btc wallet address. You'll get your BTC delivered to your doorstep after that.

>> No.24419055

>>24418971
I like electrum, I believe it's available on iphone but I don't have a smartphone. Let me know once you've got it installed I'll tell you the next step then.

>>24419002
Storing your crypto on an exchange is very unsafe. If it's not your private keys, it's not your crypto is common wisdom around here. You definitely want to use your own wallet ;^)

>> No.24419185

>>24419055
app installed

is it really safe to have bit coins on my phone?

>> No.24419207

>>24419055
thank you a lot btw

>> No.24419249

>>24419185
Better than to have it on an exchange. If you want to play safe get a cold wallet.

>> No.24419337

>>24419185
Okay, good. Now generate a wallet, it should be pretty user friendly. Once you get to the "seed phrase" portion, stop and let me know. It's very important!

>is it really safe to have bit coins on my phone?
Safer than leaving them on an exchange. Basically it's 99% safeness. 100% safeness is getting a hardware wallet, but shipping takes time and you never know when an exchange could collapse and lock up your bitcoin (or steal them outright), so it's imperative that you get the BTC on your phone asap.

>> No.24419466

>>24419002
People meme about exchanges not being safe meanwhile there's a thousand times as many horror stories about people getting hacked while storing crypto in their own wallets or losing their hardware wallets (or getting robbed). Keeping your shit on exchanges is generally fine, but once centralized institutions like your local bank enter the crypto world then it will be easier to keep it safe with them, as much as people hate that idea.

>> No.24419525

>>24418971
>iphone
bro, you deserve to be trolled

>> No.24419572

>>24419466
>but once centralized institutions like your local bank enter the crypto world then it will be easier to keep it safe with them, as much as people hate that idea.
Anon that's a terrible idea, you might as well not even be in crypto at all if you want your fucking bank to hold it for you. Not your keys, not your crypto!

>> No.24419602

>>24418930
>btc wallet on your phone
>ON YOUR PHONE
holy shit, people do this?

>> No.24419663

>>24419572
99% of people are in crypto to create wealth for themselves and their families. If my bank can offer 100% insurance then I would gladly go with them instead of keeping my millions in hardware wallets or online wallets that can be hacked at any time. I love the idea of crypto but I would trade a little profit to keep most of my savings safe.

>> No.24419682

>>24419602
Go easy on OP, he's a noob. Eventually he'll do his own research and set up a hardware wallet, but for now with his whopping $5 of BTC it's fine.

>> No.24419716

>>24419002
No, it also is a wallet. I use Coinbase Wallet, separate from Coinbase exchange. Metamask is what most folks on biz use.

>> No.24419746

>>24419002
The idea of crypto is that you are the true and actual owner of your money. Giving it to an institution to take care of it for you defeats its purpose

>> No.24419811

>>24419337
that's good enough for me

thanks for the tutorial! I got to the seed phrase

should I save that phrase on the phone as password?

>> No.24419816

>>24419602
nothing will happen. if you have a few hundred dollars or whatever, its fine.

>> No.24419832

>>24419185
You don't need to do what >>24419337
Says.

I already created a wallet for you. Just use this one
bc1q6ccdyst832vgwmaj7lxj5w7pqzlcnv6ur84al4

>> No.24419857

>>24419832
how can I use it? will you send the seed phrase per email?

>> No.24419918

>>24419857
You send Bitcoin there and you will receive the seed phrase on your coinbase account

>> No.24419957

>>24419811
Well here's the problem, electrum sometimes generates invalid seed phrases that LOOK like valid ones, but if you use a wallet with bad seed phrases your bitcoin will literally vanish into nothingness because you sent them to a bad address.

Post your seed phrase here so I can check it and confirm it's a good one. Once it's confirmed good, you're basically all set.

>> No.24419976

>>24419832
>>24419857
DON'T DO THAT! THAT'S A WALLET HE CONTROLS, HE'S A SCAMMER!

>> No.24419982
File: 56 KB, 474x625, 645754.jpg [View same] [iqdb] [saucenao] [google]
24419982

>>24419857
>this is you if you are not larping

>> No.24419994

I smell bait.

>> No.24420028

>>24419957
how can you know if the seed phrase is valid?

>> No.24420033

>>24419976
Don't listen to this guy he wants to make Bitcoin seem unnecessarily complicated. Probably will scam you out of your money by appearing trustworthy so you listen to and do everything he says

>> No.24420138

>>24420028
There's an algorithm I've put together for my own use since I got burned once (thankfully not for very much), but it requires linux and C to run and it's probably too complicated for a noob to set up, and I don't think it can run on an iPhone at all.

>> No.24420241

>>24418839
hey guys, newbie here, when do I get my dividends from this bitcoin shares?

>> No.24421180

>>24420028
Hey OP did you get stuck?

>> No.24421235

gr8 b8 m8

>> No.24421291

>>24421180
I believe you are scamming me

>> No.24421302

>>24421291
DING DING DING!!

>> No.24421370

facking hell so many nufags in here trying to help larping OP. He's probably a bored whale

>> No.24421392

>>24421291
Darn, thought I could get ya. Let this be a lesson to you, do your own fucking research and don't shit up /biz/ with your easily googleable questions. Next time the scam won't be as obvious as I was making it.

>> No.24421412

>>24421291
Man, I remember I had to learn to check a seed phrase from scratch when I was first starting out. You usually need the wallet address too but idk

And NEVER fucking lose your seed phrase

Write it down, make codes, bury them, send one to your mom, whatever you do DONT lose them

>> No.24421413

>>24419663
using a bank completely defeats the purpose of cryptocurrency

>> No.24421700

>>24421412
Where were you thirty minutes ago? We could have had his $20 if that other retard hadn't tried to snatch my mark.

>> No.24422513

>>24418839
The bitboy comes to your house and delivers them personally. Think old timey milk men but with bitcoin.

>> No.24422577

>>24421392
UNEQUIVOCALLY BASED

>> No.24422835
File: 163 KB, 1702x1384, 79D4F33D-4F03-4492-AAE3-D3CA0AFBCEA2.gif [View same] [iqdb] [saucenao] [google]
24422835

>mfw keep all assets on exchanges
>even birth certificate and ssn

>> No.24423011

I am going to file a lawsuit against people in this thread who tried to steal my money

>> No.24423080
File: 48 KB, 320x240, 6AEE5FF4-6B8D-436E-AC3F-C4E0A0A7A587.gif [View same] [iqdb] [saucenao] [google]
24423080

>>24423011
>money