Hi all,
What platforms is everyone using to convert FIAT to crypto and what platform (if different) are you using as the exchange?
Prefer Australian based platforms (as you are sharing a level of personal information ).
Do you convert to a platform like Coinbase and then transfer to an exchange?
Interesting. Never heard of them but appear AU based. Might be a good option
Try binance but their BTC withdrawal fees are a bit rude ATM.
Otherwise coinspot.com.au
Have only gone fiat to crypto and not the other way so far.
I want to play with “exotics”, so after an exchange who has access to those coins
Use a reputable Australian on-ramp that is subject to the AML/CTF Act. Do a top tier KYC. This will allow for quicker withdrawals and higher limits. Convert AUD to one type of stable coin or XMR and then bulk tx to a hot/cold wallet.
Use a DEX to trade.
Binance is great with very low trading fees and a lot of trading options.
FTX is also good as no withdrawal fee. These two have great bid/ask spread as well.
Coinspot for Australia, but use market and not buy/sell to minimise trading fee.
Binance (more crypto options: DOGE)
BTC Markets (less crypto options: NO DOGE)
CoinSpot (easy to use but very high fee)
Note Binance and BTC Markets suffered personal data leaks before. You would think they have upended their security so less likely to happen again but think what you may.
I used CoinBase and CoinSpot but moved everything to Binance recently.
Always keep your cryptos in your offline wallet once you’re done transacting (weekly/monthly).
Remember: not your wallet, not your crypto.
What is the most simple way to put your coins in a wallet without hardware or other tech complications?
Different crypto different wallet. If you go to each official page, they should have the recommended offline options. My go to is usually a wallet address that you can put into a txt file.
A bit off topic but I bought my first crypto 2 days ago from (doge) from coinspot and withdrew it to my coinomi wallet and it still hasn’t appeared in the wallet 2 days later. Does it usually take that long or should I be worried?
@SD2310: You can use this link to check the tx. You can also use it with Tor.
https://blockchair.com/
@whooah1979: TX doesn’t come up when I search it but coinspot has listed the transfer as completed. Not sure if that’s normal
Remember: not your wallet, not your crypto.
do you have a recommendation or list of platforms where they give you your own wallet or however you describe it?
About not your wallet, not your crypto.
Even if you have your private key, the wallet site (if cloud) or the exchange have your private key too right?
I don't get hardware wallets. What are they?
If ppl can still pay you, how can an offline wallet 'receive money'?
The actual crypto balances are stored in the blockchain aka "the public ledger" which is constantly being updated by the network/miner even when you are offline.
Your wallet/address is only a keypair that proves your ownership. The concept of offline wallet or cold storage is exactly the idea to not connect to the internet so nobody can steal your coins (or rather, the key to access your wallet).
Even if you have your private key, the wallet site (if cloud) or the exchange have your private key too right?
Yes, they only say the wallet is yours, but they have access to it too.
So does that mean don't use the sites that have you private key, or do they actually need it to make transactions for you
Why is a hardware wallet a special tool, not just a usb with a text file of your number?
Just set fire to your money
Easier and quicker
or if you want same / similar outcome go to a casino and gamble… same/same
Bitaroo for BTC
Cheap to purchase, cheap to withdraw.
Swyftx.