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  1. #1
    AussieDave's Avatar
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    Default Just purchased Ledger

    Granted to convert crpyto to fiat, I'll need to keep coinjar.

    They provide a ATM card, plus their bank wires are fast. Having a wallet to begin with was a good introduction to crypto. But now, I feel confident enough to remove the training-wheels per se. Not that I have a lot of coin, but I just don't feel comfortable with a 3'rd party holding my assets, especially given, they have my private-key, which I can't obtain.

    That, and what happened Saturday:
    https://www.gpwa.org/forum/btc-sent-...er-251369.html

    Support desk opened at 8am today (3 hours ago), and I'm still awaiting a response, set to High Priority.

    It's the net and sh#t happens,. However, this no TXID has happened a few times now - it should have be fixed the 1'st time.

    Anyway, should have my Nano S in 4 - 6 days. Looking forward to that experience, and learning curve

    If anyone has any tips, I'd appreciate hearing them, thanks!
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    Do the right thing, even when no one is looking. It's called integrity.
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  2. #2
    Sherlock's Avatar
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    Default

    Good decision.
    The most important thing is that now you understand that before you did not have the private keys (=the passwords for bitcoins), now you have them.
    The security of the private keys depends on how much you are able to secure the 24 word seed. If you do not know now what it is, it will be the first thing you will work with after you connect the Ledger.

    There are 2 contradictory issues that you need to solve:
    1. You absolutely do not want to lose the seed. So you need to store the seed and at least 2 independent copies of the seed somewhere (like at home, at office and at your parents/kids etc). You must forget about writing the seed in digital way to your computer, phone etc, because viruses already seek for weird 24 words.

    2. You do not want anyone else than you to see the seed (so the more at more places the copy is the more it can be compromised). So you should somehow obfuscate the seed.

    Anyone who sees the seed has immediately access to coins. That is what you must remember.

    +++++++++++++++++++

    Hope you ordered the ledger from Ledger website and not from Amazon.

    +++++++++++++++++++

    Now (2020, 2021) should be interesting times to hold your coins and not to sell them. Your wallet is ideal for that. Forget coinjar.

    +++++++++++++++++++

    Once you set up the wallet, send there coins worth of few dollars. And try to send the coins in between your accounts..

    +++++++++++++++++++

    While sending coins, you can set up the fee. Ledger sometimes does funky things and puts the fee way too high. You can always manually edit the fee to 1 sat/byte and most of the times the transaction will be still fast. (You will see the txid immediatelly if fee is too low, just the transaction will not be confirmed; unlike at coinjar where they did not even try to send the money).
    We are all bloodsucking ticks, hungry, devious
    each one latched on to the ass of the previous
    when the last and the first latch on it can be shown
    ass-blood sucked by the first from the last is his own

  3. The Following 3 Users Say Thank You to Sherlock For This Useful Post:

    818sfv (21 January 2020), Anthony (20 January 2020), AussieDave (20 January 2020)

  4. #3
    AussieDave's Avatar
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    Default

    Quote Originally Posted by Sherlock View Post
    Hope you ordered the ledger from Ledger website and not from Amazon.
    Wouldn't that be like buying a Ferrari from Costco? Yes, I purchased it from Ledger.com

    Thanks for the additional advice, and help too.
    Last edited by AussieDave; 20 January 2020 at 4:16 am.
    ---
    Compliance: a code word for control

    ---
    Do the right thing, even when no one is looking. It's called integrity.
    ---

    It's your right to be treated honestly: fairness for all igaming affiliates - doch.news

  5. #4
    AussieDave's Avatar
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    Default

    DHL delivered it today. 3 days from France... wow that's fast!
    ---
    Compliance: a code word for control

    ---
    Do the right thing, even when no one is looking. It's called integrity.
    ---

    It's your right to be treated honestly: fairness for all igaming affiliates - doch.news

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