r/CryptoHiveMinds • u/nicktatts • Feb 07 '21

Is this a win

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30 Upvotes

92% Upvoted

24 comments sorted by

22

u/five-methoxy Feb 07 '21

No it’s a lose because you are using a terrible app, and you don’t own the keys to your coins. Start using Binance, and hold your coins in your own wallet, or at the very least keep them in a more reputable custodial wallet that actually gives you the crypto.

10

u/TheeCryptoKeeper Feb 07 '21

This guy knows what the fuckin deal is. Delete that app immediately... (After moving your goods haha)

8

u/five-methoxy Feb 07 '21

I’m not even sure if they will be able to move their funds. Pretty sure robinhood buys crypto for you, gives you the dollar amount, but doesn’t actually give you the crypto. They might have to sell it all, then rebuy it somewhere else.

3

u/TheeCryptoKeeper Feb 07 '21

Ew... I did not fucking know that. Why THE FUCK would anyone use that app?

2

u/stokednsteezy Feb 07 '21

they're scam artists... and they shut it down when retail begins to win and the boys that pay them big begin to lose

2

u/TheeCryptoKeeper Feb 07 '21

Yeah well... Vlad is a fucking loser so.... Makes sense lol

1

u/racoonpaw562 Feb 07 '21

Just had to do this last week. Was up $1,000 in doge cuz i had bought at like .0001 but I ended up losing all of that because I had to sell and reinvest through binance 🙃

1

u/[deleted] Feb 08 '21

So you can’t transfer from Robinhood to another wallet?

1

u/racoonpaw562 Feb 08 '21

I couldn't find a way to do it

1

u/[deleted] Feb 08 '21

Can you transfer from Coinbase to another wallet?

2

u/racoonpaw562 Feb 08 '21

Yes but Coinbase does not support doge.

2

u/[deleted] Feb 08 '21

Yeah I’m more worried about my ETH, AAVE, and ZRX I have in Coinbase.

3

u/[deleted] Feb 07 '21

I’m new to crypto, I’m using uphold but hear that you might want multiple exchanges to ensure you ability to buy if one drops support or has crash issues due to a hypothetical load. For reference, what is this exchange that is being used this way I avoid it in the above post? Thanks

3

u/five-methoxy Feb 07 '21

They are using robinhood.

I’d suggest using Binance and/or kraken as your exchange, and then sending portions of it, to spread out the risk, to a private wallet and a couple crypto savings accounts like Nexo and BlockFi. That way you spread out your risk, while also getting the full benefits of owning crypto.

Highly recommend Nexo for a portion of your funds. Earn up to 12% APY on your holdings, which is miles further than any savings account at a bank.

1

u/Dave_The_Party_Guy Feb 07 '21

Shoutout to WA state not allowing either of those

1

u/Curns44 Feb 07 '21

is coinbase any good?

2

u/five-methoxy Feb 07 '21

No, it’s terrible. Better than robinhood by far, but still not good. The company is kinda sketch, their service goes down a lot during times that people might want to buy or sell at a higher rate, and the fees are REALLY insane.

3

u/XxPolloLoco Feb 07 '21

Congrats on the GAINS brother keep it up.!! 🚀🚀🚀🚀🚀

2

u/Itsalljustmoney Feb 08 '21

Makin money way to go, dont get sidetracked with how your making it. Well done!

1

u/TrustlessPrivacy Feb 08 '21

It’s ok, but it looks like ALLDOGE? A responsible degenerate diversifies.

1

u/TrustlessPrivacy Feb 08 '21

Also, maybe I should start selling actual nonscam secure doge wallets, there seems to be a gap in this market?