Beginner Crypto Lesson 03 – Hard Wallets & Getting Paid Interest

Beginner Crypto Lesson 03 – Hard Wallets & Getting Paid Interest

Beginner Lessons Series Exchanges \ Wallets Tips & Tricks
May 18, 2021 by DanCurranJr
445
Recap So Far In Lesson 01 you learned how to sign up for an exchange and purchase the Crypto of your choice. In Lesson 02 we briefly discussed Understanding & Using Your Crypto Wallets and the importance of Understanding Custodial vs. Non-Custodial Crypto Wallets, we also talked about Where NOT to buy Crypto: (Robinhood &
R0d35313856c9f89372d6852e7b1597db

Recap So Far

In Lesson 01 you learned how to sign up for an exchange and purchase the Crypto of your choice.

In Lesson 02 we briefly discussed Understanding & Using Your Crypto Wallets and the importance of Understanding Custodial vs. Non-Custodial Crypto Wallets, we also talked about Where NOT to buy Crypto: (Robinhood & PayPal to Begin With)

Keep in mind  – coins are not stored in your hardware or other wallet. Your wallet only stores and protects your private keys. People are used to storing bills and coins in their wallets, but in the blockchain world, your wallet doesn’t contain coins – it contains private keys.

NEVER SHARE YOUR PRIVATE KEYS! 

So in recap – you followed lesson 01 and bought Crypto, you followed lesson 02, your crypto is still sitting on an exchange. So now we need to move your assets to bullet-proof safe locations.  Time to get get a hard wallet.

Hard Wallets

A hard wallet looks like a thumb drive. You plug it into your computer and move your assets from an exchange to your own device that can be disconnected from the internet and stored in a safe, a shoebox, or buried in the back yard.

As long as the hard wallet is disconnected, your crypto assets are 100% safe.

There are 2 industry-leading Hard Wallets. Pick One. Buy One.

The Devil in the Details – Earn Interest on Your Holdings

You bought crypto, you moved it off the exchange into a hard wallet that is 100% secure.

Good job. However – here is a twist, if you keep some crypto on an exchange you can actually get some amazing interest rates.

This is where you need to assess your risk tolerance. You can earn interest on some exchanges.

      • CoinBase – Horrible Rates, That’s a no from me, but it’s a low barrier to entry so a lot of people will just let it ride on that exchange.
      • Block Fi – Great rates but look at the tiers
      • Voyager – Seems to be the best as of this writing. Fewer restrictions and pretty straightforward.

BTC, ETH, LTC, etc. go up and down 9n value, but in the meantime, you are earning interest regardless of the price.

Finally – What Is Your Bank’s Interest Rate?

Take a moment to read A Basic Guide To Understanding Cryptocurrency Stable Coins

If you have $1000.00 in the bank, why not move that cash into BlockFi or Voyager as USDC and get an 8%+ interest rate?

More on that in the next lesson!

 

Helpful? Useful? Enlightening?

Please consider making a small donation to CoinTutor.org. Any little bit helps the articles keep coming and the forums running. Pick a coin below, donate, and Thank You!

  • Bitcoin
  • Ethereum
  • MetaMask
  • Tether
  • Cardano
  • Xrp
  • Polkadot
  • Binance coin
  • Litecoin
  • Stellar
  • Bitcoin cash
  • Dogecoin
  • Usdcoin
  • Uniswap
  • Bitcoin sv
  • Tron
  • Cosmos
  • Monero
  • Tezos
  • Synthetix
  • Dash
  • Maker
  • Dai
  • Neo
  • Vechain
  • Ontology
Scan to Donate Bitcoin to 3GW2f1Du91uQFpVULZP4fwcLLTnfjUHDSY

Donate Bitcoin to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0x18b4388E6CE05b65F7Afd2a175ab9Da20324404D

Donate Ethereum to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum

MetaMask

Donate to Coin Tutor Via Meta Mask

Scan to Donate Tether to 0x38D0d0039A238dE4e38FBf6dd53Aa81fdD90884E

Donate Tether to this address

Scan the QR code or copy the address below into your wallet to send some Tether

Scan to Donate Cardano to addr1qy3qmcf2dg4u0wytq3u33s8j8kzat60hsyrvmgftsvkhu73zphsj563tc7ugkprerrq0y0v96h5l0qgxeksjhqed0eaqq43up2

Donate Cardano to this address

Scan the QR code or copy the address below into your wallet to send some Cardano

Scan to Donate Xrp to rEbQS57RrYczvd16tLCrFrXfGufeyBUWQ

Donate Xrp to this address

Scan the QR code or copy the address below into your wallet to send some Xrp

Scan to Donate Polkadot to rEbQS57RrYczvd16tLCrFrXfGufeyBUWQ

Donate Polkadot to this address

Scan the QR code or copy the address below into your wallet to send some Polkadot

Scan to Donate Binance coin to bnb1mu5j9t5al68hrg4dwu34g2a8cn0qjegfc4fase

Donate Binance coin to this address

Scan the QR code or copy the address below into your wallet to send some Binance coin

Scan to Donate Litecoin to M8u4f6LL9APeLH5MAupK7geefMaBT7Pko6

Donate Litecoin to this address

Scan the QR code or copy the address below into your wallet to send some Litecoin

Scan to Donate Stellar to GAZUFMYP5IGQ3DUDADBBFKDLVBDM5DPDRRLTY4IZR5G7VANKGNH6NWJS

Donate Stellar to this address

Scan the QR code or copy the address below into your wallet to send some Stellar

Scan to Donate Bitcoin cash to qzm8xx7qqz6sttq4l5c44dua3ftaud9rvqdwypfd0f

Donate Bitcoin cash to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin cash

Scan to Donate Dogecoin to DAuyfeoKBtNhsjKmyvDtg1ANXvhXZpYHGE

Donate Dogecoin to this address

Scan the QR code or copy the address below into your wallet to send some Dogecoin

Scan to Donate Usdcoin to 0x38D0d0039A238dE4e38FBf6dd53Aa81fdD90884E

Donate Usdcoin to this address

Scan the QR code or copy the address below into your wallet to send some Usdcoin

Scan to Donate Uniswap to 0x38D0d0039A238dE4e38FBf6dd53Aa81fdD90884E

Donate Uniswap to this address

Scan the QR code or copy the address below into your wallet to send some Uniswap

Scan to Donate Bitcoin sv to 1EnacS3kV3d7jcHEJ8pc4hqeWcXgsidtdu

Donate Bitcoin sv to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin sv

Scan to Donate Tron to TF7TRB3sZkjYF44VVP1V5tyg8xY8UTXffY

Donate Tron to this address

Scan the QR code or copy the address below into your wallet to send some Tron

Scan to Donate Cosmos to cosmos1tws495gqqznj2l47v06adsfe4a7plqpug4txfh

Donate Cosmos to this address

Scan the QR code or copy the address below into your wallet to send some Cosmos

Scan to Donate Monero to 489Qx82MSwFAhRgXGoU9NrV3baCPB5vbm22EUkSizTSULcxqZ5ayisg5hWLYZegUxXJ6yuhCFGjxxaf1rQ4R67wuKh2Ykui

Donate Monero to this address

Scan the QR code or copy the address below into your wallet to send some Monero

Scan to Donate Tezos to tz1cRXMBHmqNx6NJywWEE8rnq4hkXtbHAjHm

Donate Tezos to this address

Scan the QR code or copy the address below into your wallet to send some Tezos

Scan to Donate Synthetix to 0x18b4388E6CE05b65F7Afd2a175ab9Da20324404D

Donate Synthetix to this address

Scan the QR code or copy the address below into your wallet to send some Synthetix

Scan to Donate Dash to XcYTxXipDksvyP2JJxxYe7YkKqxK5fBad5

Donate Dash to this address

Scan the QR code or copy the address below into your wallet to send some Dash

Scan to Donate Maker to 0x38D0d0039A238dE4e38FBf6dd53Aa81fdD90884E

Donate Maker to this address

Scan the QR code or copy the address below into your wallet to send some Maker

Scan to Donate Dai to 0x38D0d0039A238dE4e38FBf6dd53Aa81fdD90884E

Donate Dai to this address

Scan the QR code or copy the address below into your wallet to send some Dai

Scan to Donate Neo to AXqCkUcXbMGqs7JXkdCynz8AsejGTjmp3u

Donate Neo to this address

Scan the QR code or copy the address below into your wallet to send some Neo

Scan to Donate Vechain to 0x9AAD975d55684447AD7364105eb0aA91698fC4e6

Donate Vechain to this address

Scan the QR code or copy the address below into your wallet to send some Vechain

Scan to Donate Ontology to AZ3muytbGzc3D4CY33tRnRTnBxn39TYNdG

Donate Ontology to this address

Scan the QR code or copy the address below into your wallet to send some Ontology

Add a comment