Hey Folks - some years ago I got burned when the QuadrigaCX exchange went down. Since then, I’ve been hesitant to get back into crypto exchanges and mining.
Interested to hear your advice on where to begin and how you distinguish legit platforms from the scams.
Thanks so much!
Welcome back! And sorry to hear about that. I am going to assume you want some kind of certainty/security first. If so, I would get a hard wallet like Trezor or Ledger to have your own keys. After that, I guess exchange is personal preference but I use them all. Binanceus has the lowest fees for me. But I use Coinbase to buy other coins like dot. Voyager is pretty good too just make sure the coin ur buying can be withdrawn to a wallet. As for mining, maybe a small asic like the goldshell boxes or a gpu rig. Some people run those on a separate network and I recommend hiveos. Just my 2 cents, good luck out there!
Hi Joey,
Thanks so much for your thoughts here - sounds like good advice and much appreciated. I’ll definitely check out some of those options.
Cheers,
At this stage in Crypto, the big exchanges in the U.S. are probably relatively stable… Coinbase or Gemini seem like they have a pretty slim chance of doing a rug pull. There’s still plenty of less main stream ones that are certainly more risky, but most of the big players are unlikely to just dissapear.
I’ve been using Kraken for a bunch of years now, and had no issues with them. Kraken may not have all the cool new coins, but they have a good, and growing, selection from which to choose.