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So if I have coin on, say, coinbase, what should I do? Should I withdraw it to a wallet before August 1, so I can access both Bitcoin and Bitcoin Cash?
by zck 9y ago
So if I have coin on, say, coinbase, what should I do? Should I withdraw it to a wallet before August 1, so I can access both Bitcoin and Bitcoin Cash?
- nicpottier 9y agoI would not keep coins sitting in coinbase either way, so the decision is easy. Move it off. If you aren't planning on selling anytime soon then do it to a paper wallet or get a Trezor or the like if you want to actually use your coins. But don't trust any third party with your coins, especially Coinbase which isn't sharing the private keys with you.
- CyberDildonics 9y agoAbsolutely not. Keeping coins on coinbase means on the split you have your normal balance, but coinbase keeps your bitcoin cash balance. Take your money out of an exchange, it should not be kept there in the first place! If you don't own the private keys, you don't own your bitcoin. If it is on coinbase, you don't control it, you are just asking them for permission.
- zck 9y agoWell, the decision isn't especially easy, given that I also don't feel comfortable having a bunch of cash sit out on a table in my kitchen. So I'd have to figure out a wallet strategy that made sense. Maybe I'll make a paper wallet this weekend? Hrm, security is hard.