Question (1SBD for best answer): How to keep a crypto portfolio organised? Which wallets, exchanges, and market indicators
There are so many posts out there on this topic, but tell me your stories. Have you ever used an offline wallet? How exactly does it work? Do certain wallets work best with certain exchanges or does it not matter? How do you keep track of which coins you have? How do you manage all your keys? What works and doesn’t work for you - especially when you are just starting out?
The rules:
Upvote this post, and comment. It’s that simple! I don’t have that many followers so your chances of winning 1SBD are pretty good!
This is the winning comment from last week’s topic.
What i know about the blockchain, it is very close with programming language, if you want make decentralize application on the blockchain, for example on EOS platform we must understand about the programming language C++ to build application and every blockchain use different language programming include steemit, depending on the developer of team ( i don't know about the programming language on steemit).
I was trying to learn about what interfaces are possible on the steem blockchain. I didn’t really get an answer to my question last week, but I still learnt something! @densuj taught me something that probably seems like basic knowledge to most people on Steemit. I have transferred your 1SBD @densuj - thank you!
nice post. im resteem
I noticed you have taken the time to upvote your comment but haven’t actually resteemed this.
Nice little contest.
As far as offline wallets go, I know they sell special offline wallets devices but, I've found the best way is to encrypt a USB drive and download your wallet to that, then lock it in a drawer. Simple as that. When it comes to Private keys, the only way I would ever recommend someone storing them is on old fashioned pen and paper. You never know who can get to your computer or cloud, that is for certain. So write them or copy and paste to word, print out, delete word file and lock in cabinet. I'm not sure what you mean by wallets working with exchanges. Most exchanges I use have there own form of online trading wallets that you use. Wallets may come into play with decentralized exchanges but, don't have much experience their. I wouldn't recommend storing a lot of funds on any one exchange. Most of these exchanges aren't insured. So, if they go under, your funds are gone. If you plan for long term investments, make the trade, withdraw, and store on a cold wallet. As far as managing all of your positions on exchanges, most exchanges offer public api keys that you can upload to apps like Coin Tracking to keep track of all of your positions. Quick note here, be sure when you create a api key, you don't grant it access to trade, make it view only. Excel is also an underated tool, simple web connect to coinmatketcap can easily import the current prices of any coin you have a position in. Hope that helps you out!
Exactly one should never store his crypto currencies on the exchanges. It is really unsafe there.
Thanks so much for your comment @clshipp91! That’s a great idea about encrypting a USB stick. I have no idea how to do that but I’m sure google can sort that out for me ;)
I haven’t started to trade much at all yet but I’m enjoying learning so that I’m ready when I can. Plenty of good advice in this comment- I hadn’t heard of API keys yet either, but I’ll be sure to remember your tip about making it view only!
Best of luck man! Steemit is a great place to learn. It has definitely helped me get started.
If you're looking to get into trading, Coinbase/gdax are good for fiat to crypto. (GDAX fees are way less). I like Binance for most of my trading, I feel comfortable putting funds there, especially after how they handled the phishing attempt(referral link if you need to sign up: www.binance.com/?ref=17668565 ). I also think Cobinhood has potential to be a good exchange, zero trading fees.
Thanks!
Thanks for stopping by and commenting.
Congratulations - I've just transferred you 1SBD @clshipp91
Thank you very much man! Best of luck with all your crypto adventures!
You too - and you're welcome 😊
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