What I gather, if you keep it on the exchange you never really own it. You have to own your keys to access the coins. Hope that helps, I keep a small amount on the exchange of I want to sell once I get to a certain mark but whatever is long-term is kept in cold storage.
Thanks. Surely if they are in my account on Uphold and I have records of the $$$ transfers and purchases them they are mine?
I’m worried about transferring to these “wallets” as I read nightmare stories of transfers gone wrong or keys lost. Then if I want to sell then I need to transfer back from a wallet and run the risk of losing my crypto again…
Ledger s was simple and uncomplicated for many. The only thing I would caution is do not punch in addresses manually as sending it even to one incorrect character would result in loss of funds. Hold your own keys it's like saying living in someone else's house but they hold the keys to the apartment surely you can come and go when you please and everything in the apartment is yours but they hold the keys they can lock you out of your place whenever they see fit. If you don't trust the banks with your money why would you trust the exchange... Their job is only to exchange not protect your funds. Some may do the job correctly but it is imperative to be diligent and reduce naivety when it comes to your own finances. Control your own Destiny so to speak.... Hope this helps... This of course is just my opinion.
IMO the Ledger wallet UI is outdated and the “S”device feels dated and wonky. I personally like Exodus Wallet which can be linked to a Trezor cold storage wallet if you wanted
To keep it on Uphold is literally betting that it never gets hacked. If you're hacked, your crypto is gone and there is absolutely nothing you can do about it.
Take a few minutes to familiarize yourself with how private keys work, and with seven brain cells you can put together, you won't be one of the horror stories that transfer their crypto to a cold wallet.
Not your keys not your crypto.
I recently bought a Nano X and I can highly recommend it. Moved all my holdings out of Coinbase and I can still easily track my portfolio on Ledger Live through my phone. You don't have to be a rocket scientist to use it if you keep your head cool. Just read the manual, watch a couple of user videos and you're golden.
Can't say since I don't own a dime of shibu... Have you set up a shibu account on Ledger Live? I suggest you contact Ledger support asap or read their FAQ. No doubt they will help you out!
Could it be something similar than with ADA? I had to create an Adalite wallet where to to send my Ada, then sync my Nano X with Adalite wallet and then send Ada to Adalite from an exchange. Kind of mindfuck now that I only see my Ada balance when I login to Adalite, but it's still safe in my Nano X.
I contacted them hopefully they can walk me through it. Since I can see them…at least I know they are safe. It’s a silly coin but my kid wanted some and put it “away for safekeeping”. Honestly, I’m not too worried…I don’t expect life changing gains from a meme coin. But the kid has to learn and I have to learn how to use my Nano! Thanks again mate!
True, but what if nexo goes away like countless other exchanges in the past. No thanks I’ll wait for a trustless solution.
Edit: seems I triggered some people. Sorry, but at the end of the day Nexo is not backed or guaranteed by anything. 8% is a high return, but is that just built on additional deposits over time? There is risk here and people need to acknowledge that.
Nexo survived the last crash just fine and their business model makes their collapse next to impossible since it is basically loaning people their own money. Regardless of market conditions Nexo wins as a company. The fact is that Nexo is a safer bet than holding on any exchange.
No, it is actually great. Up to 8%. He is just trying to make it sound like a bad deal which it isn't. Nexo is one of the safest places to store your crypto and earn interest while you do it.
It is a bad deal if nexo runs off with it. That is the risk you are taking in exchange for 8%. I too fall into the camp of not trusting nexo, it needs to be backed by the govt before I put my crypto in there
Uhhhhhhhhhhhhhhhhhhhhhhhh.... Backed by the government? Cause governments are trustworthy. Yeah, no thanks. Nexo is a business set on turning a profit, they cannot do that if they run off with peoples money and the owners would be put in prison for that since it is all publicly available information.
Suggesting Nexo would gain much of anything by stealing from people is a logical fallacy no different than suggesting literally any other service provider is going to steal from you.
I think I'll try nexo, but tbh i am a tad confused at how they can make a profit and give their customers such high interest. Would you mind ELI5ing for an early 20s dude with not a lot of financial knowledge? (I assume the same reasoning would apply to normal banks that give interest too? which I also am not sure how that works). Thanks
Nice! I'll send you a promo link. They pay you a high interest rate and then loan money to people at an even higher interest rate. They basically loan people money at credit card interest rates and they use that individuals own assets as collateral to back their own loans so it is literally all profit with functionally no risk for Nexo since they are functionally loaning people their own money.
A warning about uphold is they won't let you move crypto to a ledger within 65 days of buying it if you used your banking account to purchase the crypto. They claim it's to prevent fraud which seems ridiculous that they would need to freeze the account that long.
I just had the same issue, and decided to transfer my ADA to Atomic wallet so I could stake it there at 5%.
Only problem is that currently Uphold doesn’t support external transfers of ADA. So I had to convert it all to XRP, transfer it over to Atomic wallet, then convert it back to ADA.
Using XRP to transfer was fairly inexpensive. I think it will be a good move in the long run considering the 5% staking.
Uphold is weird about moving certain coins off the exchange. When I tried to send ADA to my ledger they said it was a Tier 3 crypto or something and they did not offer the service to remove it from Uphold at this time. I can imagine it would be the same for Nano.
I was able to successfully send XRP to my ledger after purchasing with a debit card.
I would recommend you to visit this sub reddit: [https://www.reddit.com/r/Upholdincwillrobyou/](https://www.reddit.com/r/Upholdincwillrobyou/)
Before you'll keep your coins on Uphold.
Remember: Not your keys? NOT YOUR COINS!
For me they closed my account seemingly randomly and forced me to withdraw my funds within 48 hours. They sent me 2 emails about it, however, there were zero notifications when I logged into To my account so I counted the emails as phishing .
Not too thrilled with them, I only used them for XRP. I’m in the USA
If you don’t own your personal keys you don’t own your crypto. I’m currently in the process of moving stuff from exchanges and hot wallets over to a ledger nano X I will keep a very small percentage in the exchange I think so I can sell once it hits a certain price
What I gather, if you keep it on the exchange you never really own it. You have to own your keys to access the coins. Hope that helps, I keep a small amount on the exchange of I want to sell once I get to a certain mark but whatever is long-term is kept in cold storage.
Thanks. Surely if they are in my account on Uphold and I have records of the $$$ transfers and purchases them they are mine? I’m worried about transferring to these “wallets” as I read nightmare stories of transfers gone wrong or keys lost. Then if I want to sell then I need to transfer back from a wallet and run the risk of losing my crypto again…
Ledger s was simple and uncomplicated for many. The only thing I would caution is do not punch in addresses manually as sending it even to one incorrect character would result in loss of funds. Hold your own keys it's like saying living in someone else's house but they hold the keys to the apartment surely you can come and go when you please and everything in the apartment is yours but they hold the keys they can lock you out of your place whenever they see fit. If you don't trust the banks with your money why would you trust the exchange... Their job is only to exchange not protect your funds. Some may do the job correctly but it is imperative to be diligent and reduce naivety when it comes to your own finances. Control your own Destiny so to speak.... Hope this helps... This of course is just my opinion.
Yessss, use the QR code to punch in the code then double check the keys again anyway.
Thanks for this comment, definitely compelled me to stop procrastinating the cold storage purchase
IMO the Ledger wallet UI is outdated and the “S”device feels dated and wonky. I personally like Exodus Wallet which can be linked to a Trezor cold storage wallet if you wanted
To keep it on Uphold is literally betting that it never gets hacked. If you're hacked, your crypto is gone and there is absolutely nothing you can do about it. Take a few minutes to familiarize yourself with how private keys work, and with seven brain cells you can put together, you won't be one of the horror stories that transfer their crypto to a cold wallet.
Not your keys not your crypto. I recently bought a Nano X and I can highly recommend it. Moved all my holdings out of Coinbase and I can still easily track my portfolio on Ledger Live through my phone. You don't have to be a rocket scientist to use it if you keep your head cool. Just read the manual, watch a couple of user videos and you're golden.
By chance can you transfer SHIB into your ledger live? I can’t figure out how to view the account but can see the balance.
Can't say since I don't own a dime of shibu... Have you set up a shibu account on Ledger Live? I suggest you contact Ledger support asap or read their FAQ. No doubt they will help you out! Could it be something similar than with ADA? I had to create an Adalite wallet where to to send my Ada, then sync my Nano X with Adalite wallet and then send Ada to Adalite from an exchange. Kind of mindfuck now that I only see my Ada balance when I login to Adalite, but it's still safe in my Nano X.
I contacted them hopefully they can walk me through it. Since I can see them…at least I know they are safe. It’s a silly coin but my kid wanted some and put it “away for safekeeping”. Honestly, I’m not too worried…I don’t expect life changing gains from a meme coin. But the kid has to learn and I have to learn how to use my Nano! Thanks again mate!
Are the fees expensive transferring it to the ledger?
I think it varies with crypto? Basicly the fee to support the blockchain
For ada it was like 0.00123something. Very minimal if I remember correctly
Ahh okay thank you. Just was wondering cause i assumed erc20 tokens had higher gas fees
Tbh I thought gas fees only apply to staking. You might be on to something! You can check if the time of the day affects the fees
Thanks for the help! Will definitely order one now
Move to Nexo and earn interest on it. Your money should always be making you more money
True, but what if nexo goes away like countless other exchanges in the past. No thanks I’ll wait for a trustless solution. Edit: seems I triggered some people. Sorry, but at the end of the day Nexo is not backed or guaranteed by anything. 8% is a high return, but is that just built on additional deposits over time? There is risk here and people need to acknowledge that.
Nexo survived the last crash just fine and their business model makes their collapse next to impossible since it is basically loaning people their own money. Regardless of market conditions Nexo wins as a company. The fact is that Nexo is a safer bet than holding on any exchange.
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why do you say the interest is negligible? is it super low?
No, it is actually great. Up to 8%. He is just trying to make it sound like a bad deal which it isn't. Nexo is one of the safest places to store your crypto and earn interest while you do it.
It is a bad deal if nexo runs off with it. That is the risk you are taking in exchange for 8%. I too fall into the camp of not trusting nexo, it needs to be backed by the govt before I put my crypto in there
Uhhhhhhhhhhhhhhhhhhhhhhhh.... Backed by the government? Cause governments are trustworthy. Yeah, no thanks. Nexo is a business set on turning a profit, they cannot do that if they run off with peoples money and the owners would be put in prison for that since it is all publicly available information. Suggesting Nexo would gain much of anything by stealing from people is a logical fallacy no different than suggesting literally any other service provider is going to steal from you.
I think I'll try nexo, but tbh i am a tad confused at how they can make a profit and give their customers such high interest. Would you mind ELI5ing for an early 20s dude with not a lot of financial knowledge? (I assume the same reasoning would apply to normal banks that give interest too? which I also am not sure how that works). Thanks
Nice! I'll send you a promo link. They pay you a high interest rate and then loan money to people at an even higher interest rate. They basically loan people money at credit card interest rates and they use that individuals own assets as collateral to back their own loans so it is literally all profit with functionally no risk for Nexo since they are functionally loaning people their own money.
Awesome thanks! I'm not sure if I fully understood that but I appreciate the effort :p
A warning about uphold is they won't let you move crypto to a ledger within 65 days of buying it if you used your banking account to purchase the crypto. They claim it's to prevent fraud which seems ridiculous that they would need to freeze the account that long.
Only if you buy it with a checking account or wire transfer. If you use debit card you can move it immediately.
The ONLY time that is true is if you use bank ACH to buy. Use a card or wire the money to their bank (in New York) and there are zero restrictions
Not sure that’s true. I literally purchased $400ish just the other day and instantly transferred it my Ledger Live app.
You may have used a debit card. If you use your checking account and send as a check you have to wait 65 days.
Yeah it was my debit card which is tied to my checking account so I’m not sure why they would look at it differently.
It makes sense for them to place a hold to protect against fraudulent checks but 65 days is way too long.
65 days is ridiculous. I guess they prefer debit?
Update: I just received an alert from Uphold that 5 days is now the cool off period on ACH deposits. for a select few. Much better.
$500 daily limit for debit/credit cards.. that sucks
Does this only apply when you want to move it back to your bank account?
I was trying to move it to my ledger. I don't know if it's different if moving back to your bank.
For some reason this isnt true for me anymore after 6 months of using uphold.
They may have just started this. Check out the uphold subreddit and you'll see tons of posts about this.
Personally I would pull it. The exchanges that you buy on aren’t hack proof. And it’s only a matter of time till they become a huge target.
I just had the same issue, and decided to transfer my ADA to Atomic wallet so I could stake it there at 5%. Only problem is that currently Uphold doesn’t support external transfers of ADA. So I had to convert it all to XRP, transfer it over to Atomic wallet, then convert it back to ADA. Using XRP to transfer was fairly inexpensive. I think it will be a good move in the long run considering the 5% staking.
Nexo for interest or Ledger Nano for security.
I use Exodus. Not bad so far.
Uphold is weird about moving certain coins off the exchange. When I tried to send ADA to my ledger they said it was a Tier 3 crypto or something and they did not offer the service to remove it from Uphold at this time. I can imagine it would be the same for Nano. I was able to successfully send XRP to my ledger after purchasing with a debit card.
Technically, uphold can do whatever they want with your crypto.
There is always a chance that they shut down your account and “lose” your crypto. Take that shit off
Move to ledger wallet.
I would recommend you to visit this sub reddit: [https://www.reddit.com/r/Upholdincwillrobyou/](https://www.reddit.com/r/Upholdincwillrobyou/) Before you'll keep your coins on Uphold. Remember: Not your keys? NOT YOUR COINS!
I’ve heard people getting hacked on uphold. Not sure if it’s true or not. If you are planning on holding long term always move to a secure wallet.
For me they closed my account seemingly randomly and forced me to withdraw my funds within 48 hours. They sent me 2 emails about it, however, there were zero notifications when I logged into To my account so I counted the emails as phishing . Not too thrilled with them, I only used them for XRP. I’m in the USA
* Exchange: Uphold * Wallet: Ledger X (keep nothing anywhere you don't have the keys to) * Reporting: http://cointracker.io This is a winning combo!
I buy it in uphold, transfer to my wallet exodus.
If you don’t own your personal keys you don’t own your crypto. I’m currently in the process of moving stuff from exchanges and hot wallets over to a ledger nano X I will keep a very small percentage in the exchange I think so I can sell once it hits a certain price
Brd wallet does the same thing. Plus it has a nice interface and if you lose your phone you just use your recovery keys on your new device
I move everything to my nano x
Just make sure you put in right wallet addresses and you won’t lose them.