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Just started trading/exchanging and looking to invest in ETH using robinhood. Therfore, like to know which is the best cold wallet to transfer my ETH from robinhood. #investments #personalfinance #crypto #ETH #robinhood
Aren't hot wallet little risky? I'm not planning to sale them atleast a year or so.. Please suggest if there are any better options if I want to hold them for long run.
Why not create a wallet, transfer eth to it from exchanges and remember the private key? But i think your first priority should be to move money out of robinhood to wallet based exchanges. Bummer that you’d have to sell on RH and buy on the other exchange, and pay taxes on gains.
Robinhood is essentially just owning by proxy no way to transfer assets off it. Sell off robinhood and move to a real exchange. Self holding is more risky at this point look up people who Bought ledgers had their home addresses leaked Forgot their keys Lost their hardware and lost their coins In 2021+ holding own keys + technical parts of doing so more complicated and insecure than exchanges
Robinhood does not support transferring cryptocurrency, you don’t actually own the Crypto. Buy on gemini or coinbase. The best cold wallet is probably the trezor though (you can read about the terrible ledger leak).