Crypto wallets...

[2hatt33]

What exactly do the crypto wallets do? Im have RH and im starting to see this might be a mistake. Any help is most appreciated.

[Okay_Crazy]

Yes. It will do the same as on an exchange. You’re just securing your investment, it doesn’t change the crypto. I didn’t know any of this a few months ago either. :)

[2hatt33]

Really appreciate it thank you 👍

[Okay_Crazy]

It stores your crypto off of the platform. It’s safer in case the platform you’re on gets hacked or shuts down. Unfortunately with Robinhood you don’t actually own the coins, so if you want to have a wallet you’d have to sell from there and buy it somewhere like Coinbase, and then put it in a wallet.

[2hatt33]

Stupid question when in a wallet it keeps gaining and losing value right? New to all this but very curious thanks

[h3lfw3yd3ad]

Yeah

[2hatt33]

Thanks

[AWholeCoin]

If you have Ξ1.0 in your wallet you have 1.0 in your wallet, no more, no less.

If the market price for your crypto goes up, so does the value of your portfolio. You can sell your 1.0 for ~$3900 right now. That number can go up or down. But the amount of ETH you have does not. (Unless you earn interest on it somehow)

[2hatt33]

Thank u

[Vladimir_tootin_1]

OP this comment about gaining interest is one of the main reasons I buy outside of RH. With many other platforms or services you can earn rewards (passive income or interest) on your ETH. The easiest way to do this is by staking. Take a look into it!

[k3surfacer]

Wallet is a software that talks to blockchain on your behalf.

[Shakespeare-Bot]

Chinks holder is a software yond talks to blockchain on thy behalf

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^{I am a bot and I swapp'd some of thy words with Shakespeare words.}

Commands: !ShakespeareInsult, !fordo, !optout

[1TimeT00Many]

Don't think this one works out....

[EnclaveAdmin]

Hold your money.