I'm new to crypto, where should I store my assets?

in coinbase •  7 years ago 

If you're newish to cryptocurrency, use Coinbase and just Coinbase. Use ProtonMail for your email service, use a strong password, enable 2FA (Google Authenticator, not SMS!), and keep all balances that you won't use in the short-term (like one week) in the Vault.

Pro Tip: Encourage friends and family to get Coinbase accounts. Sending someone bitcoin usually is quite expensive. For a $100/USD/BTC transfer, you'll end up paying about $3 in fees. During network congestion much more. That's over 3%. Instead, if both parties have Coinbase accounts, you can do an on-exchange-swap. Coinbase, since they own the private keys for your wallets, reassigns the owner of the transferred BTC, keeping the transaction off of the Bitcoin blockchain. Coinbase to Coinbase transactions is instant and fee-less.

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Thanks for the tip regarding the coin base to coin base transfers. But looking into litecoin, it offers way cheaper transaction fees compared to Bitcoin and much faster transaction times.