Reply To: Switch from Binance to Binance-U.S. – 2/9/2021

[Lance Thompson]

Okay Good People,

Wanted to update you guys on what's been happening in the effort to shift all of my crypto on Binance over to Binance.US……Well as it turns out the particular cryptos that I own are listed on Binance but NOT listed on Binance.US because Binance.US is "a U.S. regulated crypto exchange" as their customer service rep explained to me……Needless to say a brother was about to "s–t a Blue Goose" as my Mother used to say because I thought I had NO options and was about to lose all of my crypto. Well the guy in customer service calmed me down when he e-mailed me back to explain that that there are many "personal crypto wallets that you can download and shift all of your crypto assets into"……Whew!!!…..I was about to fly through that computer screen!!! Here's what he told me……He said you have 2 options for storage wallets……………..

#1. There's the "hot wallets" which are the crypto storage pieces of software that maintain a constant connection to the Internet.

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#2. There's the "cold wallets" that are hardware devices that store your crypto OFFLINE……Needless to say the cold wallets are considered the safest option because they're ALWAYS OFFLINE which makes them UNHACKABLE…..So there's no chance for anybody to ever steal your s–t, ya dig??

 

I'm already shopping for some cold wallet hardware devices online and from what I've seen the most expensive one I've found so far is only going for $170……there are many brands of them that are priced significantly less.

 

While I'm quite sure there are some outstanding downloadable Hot Wallets out there…..Cold wallets…..that's the storage move for me good people. The biggest issue that I have seen with the cold wallet hardware is that you have to “make sure” that it’s a device that stores the particular crypto you own. So shop very carefully and “read the fine print” on the one you decide to buy.