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12 Apr 2021
@varus0:matrix.orgvarus0what does cold wallet do for decentralized exchanges?07:07:05
@askguynoirpi:matrix.orgGuy Noir, Private Investigator If you get a ledger, set it up to work with your metamask, that metamask wallet won't be able to send or swap from a decentralized exchange without you signing the transaction on your ledger. So even if someone stole that device your using metamask on they couldn't do shit without the key. That's a good layer of security for a private wallet. 07:17:05
@varus0:matrix.orgvarus0
In reply to @askguynoirpi:matrix.org
If you get a ledger, set it up to work with your metamask, that metamask wallet won't be able to send or swap from a decentralized exchange without you signing the transaction on your ledger. So even if someone stole that device your using metamask on they couldn't do shit without the key. That's a good layer of security for a private wallet.
im confused by this process
07:20:06
@varus0:matrix.orgvarus0you mean to send from your cold wallet to metamask?07:20:17
@askguynoirpi:matrix.orgGuy Noir, Private InvestigatorI think I confused you by agreeing that it's like a hard drive. There's no coins hanging out in the cold wallet device. It's better to think of the ledger as a key. It signs off on transactions inside all of these networks like ethereum and bitcoin. You can set up a metamask or an atomic wallet without a ledger, then you'll be signing off on transactions giving permission just from your phone or computer. Alternatively you can set them up connected to these cold wallet devices (keys) and every transaction you make moving anything off of these accounts you will have to approve on them. They might use your finger print or a pin you make while setting them up. It all depends on which device you pick. Either way that device can't be hacked from afar. Someone could steal your phone or computer and it wouldn't be the end of the world as long as they didn't also steal the ledger or whatever you pick07:28:04
@varus0:matrix.orgvarus0Right hence why it's more like a physical thing rather than a cloud thing 07:33:12
@varus0:matrix.orgvarus0At what point does it become worth to buy something like the ledger 07:33:37
@varus0:matrix.orgvarus0And why not use just a regular hot wallet or exchange07:33:58
@varus0:matrix.orgvarus0When does it become "worth" using 07:34:17
@askguynoirpi:matrix.orgGuy Noir, Private InvestigatorIt really just depends on how you feel about your holdings knowing the features a cold wallet has to offer. I felt a should have some portion of my portfolio locked by a cold wallet just to be safe. It's not the majority of my portfolio just a fifth and it'll be there for 9 months to a year. I use blockfi and that's a centralized service, and I have 8 different wallets to stake stuff on. It all depends on you man.07:41:59
@varus0:matrix.orgvarus0
In reply to @askguynoirpi:matrix.org
It really just depends on how you feel about your holdings knowing the features a cold wallet has to offer. I felt a should have some portion of my portfolio locked by a cold wallet just to be safe. It's not the majority of my portfolio just a fifth and it'll be there for 9 months to a year. I use blockfi and that's a centralized service, and I have 8 different wallets to stake stuff on. It all depends on you man.
I feel like if you have a lot it might be worth it to keep it for safety you never know I guess when the exchanges could get hacked
16:20:06
@varus0:matrix.orgvarus0What's blockfi16:20:16
@varus0:matrix.orgvarus0* What's blockfi16:20:24
@varus0:matrix.orgvarus0Ive heard of that before 16:20:36
@askguynoirpi:matrix.orgGuy Noir, Private InvestigatorThey're just a company that provides interest earning accounts because you agree to let them use your deposit for loans. There's a couple other services like them like Nexo, Celsius, and crypto.com18:57:41
@varus0:matrix.orgvarus0okay cuz exodus wallet also does the same you get some interest on keeping coins there18:58:08
14 Apr 2021
@varus0:matrix.orgvarus0https://cointelegraph.com/news/binance-and-ftx-list-coinbase-stock-tokens-ahead-of-exchange-s-nasdaq-debut16:13:27
15 Apr 2021
@varus0:matrix.orgvarus0thoughts on pancakeswap defi?19:39:42
@varus0:matrix.orgvarus0anyone here actively buying on pancakeswap?19:39:56
@askguynoirpi:matrix.orgGuy Noir, Private InvestigatorI've only used uni swap and 1inch. I try but to touch anything touched by binance and China. I can be overly cautious though19:55:57
@varus0:matrix.orgvarus0I try to avoid China and binance 21:24:50
@askguynoirpi:matrix.orgGuy Noir, Private InvestigatorThere's a binance U.S. run out of new York I believe. Not sure what obligations they'd have with China or how separated they are, but it does exist21:29:32
16 Apr 2021
@ryya79:matrix.orgnil joined the room.18:00:37
@cpz000:matrix.orgLe0nixWhat Hardware wallet do you suggest? Ledger nano? 21:16:07
@varus0:matrix.orgvarus0anyone familiar with gateio21:33:42
@varus0:matrix.orgvarus0trying to replace binance with US based exchange21:33:47
@askguynoirpi:matrix.orgGuy Noir, Private Investigator varus0: kraken is run out of california and actually have a bank charter so they're insured. 22:11:04
@varus0:matrix.orgvarus0Anything but China22:12:20
17 Apr 2021
@varus0:matrix.orgvarus0image.png
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00:52:47
@askguynoirpi:matrix.orgGuy Noir, Private Investigator varus0: here I was reading white papers and looking for features and use cases for coins. Nope. Just look for the most memeable. Literally works every time lol 01:26:47

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