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See my replies below. You could 100% use Coinbase and plan to use an offline wallet the exact way you have prescribed, and still lose everything due to exchange
by infotogivenm 4y ago
See my replies below. You could 100% use Coinbase and plan to use an offline wallet the exact way you have prescribed, and still lose everything due to exchange insolvency.
To save time on replies: “you’d have to be unlucky for that to happen,” and “just try to be fast” is not an ideal mitigation strategy.
- dymk 4y agoPretty much the only other option is to use something like localbitcoins and hope someone is willing to meet you with an envelope of cash.
- infotogivenm 4y agoAgreed. Unfortunately many parts of the world call this “money laundering” and impose stiff penalties.
- willmadden 4y agoIt's a perfectly good mitigation strategy. You transfer small amounts, sell them, withdraw the the fiat, and repeat. The same works for buying.
- cinntaile 4y agoThere is no need to debate unlikely risks such as... The exchange might limit withdrawals between that period. Buy your coins and then move them to your hardware wallet. It will be fine.