I’m a total noob, but want to diversify out to crypto. For someone that just wants to hold long term who should I open an account with? I currently have Robinhood, but was thinking possibly using coinbase. Coinbase is kind of expensive though. Is it worth it? Or you recommend something else. Not really looking to do anything with crypto except hold and gain in the long term. Also it would nice to have mint integration too so that I can aggregate my net worth in one place. #personalfinance #coinbase #crypto
Robinhood - cheap but small portfolio of crypto coins, easy to setup account Coinbase - very expensive if you trade often, medium size portfolio of crypto coins, easy to setup account Kraken - medium cost, large portfolio of crypto coins, hard to setup account to deposit funds from US bank (took a month to complete the process). Haven’t used other brokers.
Voyager - no fee. Can earn interest on few coins. Takes some time to set up account. But after setup instant buys. Can’t withdraw all coins yet though Coinbase pro - 0.5 % of transaction fee, so a lot better than coinbase. Withdrawal fee is low, sometimes 0 Crypto.com - prices here seem higher than others. 1st month free for credit card transactions. Bittrex - 3% charge. Best is to have Binance - been waiting a month for account to be verified
You might be waiting a long time for Binance: https://www.barrons.com/amp/articles/binance-is-under-federal-investigation-bitcoin-coinbase-and-the-crypto-world-are-reeling-51620940200
Yeah. Was just looking at exchanges voyager has too much hidden fees. Best to avoid.
Start with coinbase and take advantage of all their free crypto deals, which add up to about $30 or so. But don’t spend more with them beyond that, since transaction fees are insanely expensive. Then switch to coinbase pro, which is similar to a traditional brokerage (you can execute limit orders, etc) and has super low fees (0.5%). They even have an API which is awesome. You can transfer your crypto assets back and forth for free between the two platforms to consolidate your coins. They also allow you to transfer your coins to external wallets, which I highly recommend (consider investing in a hardware wallet like a trezor to keep all your coins nice and safe). Do not use robinhood. They don’t allow you to transfer your coins, which effectively renders them useless and exposes you to capital gains tax over the long term if you sell.
OP listen to this guy. My man knows what he's doing.
Use Decentralized exchanges and transfer to hardware wallets if long term. Check exchanges listed in CoinMarketCap exchanges. Gate.Io has highest coins but no fiat. Like OP said coinbase pro is better than coinbase. Binance is the best, use bnb and get 25 % off in trading fees. But Binance.US sucks. Don’t use it.
Wallet + uniswap
Coinbase Pro
Is it cheaper?
Yes, flat fee. Or try kraken