Question about Gridcoin Pool and connecting a wallet.
On Step 2 /Guides/pool-gridcoin-install.htm at the bottom is says you can use an Openledger account instead of the Gridcoin Wallet, but what would I then use for the GRC Payout Address and password back on GRCPool?
Is it better to use the Gridcoin Wallet? Any benefits either way?
Does not have to be Openledger, you can use our favoirite exchange that supports Gridcoin as online wallet. Just open the Exchange website, open deposit menu, find gridcoin and click deposit (or +), new Gridcoin address will be generated for you. You can use this on pool. But be careful, the coins that are not in your (official) wallet on your own computer are technically not yours.
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Understood, thank you for your feedback. I am going through the process of syncing my Gridcoin wallet. Seems like the better option.
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Even if you trust the exchange, you're losing out on interest should you hold the coins for a while, as exchanges don't stake the coins for interest.
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It's always a massive risk to keep funds on an exchange, how many exchanges need to be hacked until people stop permanently holding coins on exchanges? :(
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True - I have a question though since it's kind tough keeping the individual wallets for things like Gridcoin, Stratus, etc that require a sync to the chain all the time. For non-tech people, like some of my friends it's enough to make then not get involved. I even hold a lot of UIA on my OL account like SMOKE, PEERCROWDFUND, etc since there really isn't anywhere else to hold them.
Will Gridcoin, and do you think other UIA converting to their own coins, be able to be stored on a hardware wallet like Ledger Nano or Trezor?
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True, thank you. I am going the Gridcoin Wallet route - syncing it up now.
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