Hey all i was wondering if i could just deposit funds on markets straight from localbitcoin wallet or do i need Electrum? If i can, whats the advantage of using Electrum :/ ? Thanks all, i'm still learning a lot from this so im quite noob.
Electrum or Localbitcoin wallet?
Hey all i was wondering if i could just deposit funds on markets straight from localbitcoin wallet or do i need Electrum? If i can, whats the advantage of using Electrum :/ ? Thanks all, i'm still learning a lot from this so im quite noob.
[2 Points] None:
[2 Points] Lumb33:
You can send BTC from your local bitcoins account to your Electrum wallet fairly quickly.
The advantage of storing coins in your Electrum is that the coins are stored securely on your local machine and not some server in the clouds you have no control off. Never store coins in online wallets unless you want to lose all your money!!!
Generate secure random password using GRC password generator (google it + Steve gibson a security expert.
10+ character passwords are extremely hard to brute force. NEVER REUSE PASSWORDS.
Enable 2 factor authentication for all your accounts for the best defense against fraud.
Never Finalize early on any orders unless you want your coins stolen.
It is much more likely to be scammed by vendors, even trusted ones will selective scam some customers or the mail system fcks up and you never get the pack.
Never play with any amount of money you can afford to lose.
[2 Points] TripAddict:
To be safe, send to your local wallet (wallet on your computer), then send to whatever market address. If ur buying from something/someone that has your name on it then mix your coins with your addresses or use a tumbler.
[1 Points] Verzero:
Best to ask there and learn
It depends on your method of buying bitcoins.
If you used something anonymous that would not tie you to your account such as cash deposit or ukash then you have no need for electrum and it merely slows down the process. If you've bought your btc using a direct bank transfer then tumbling is at least an option as it would serve some use in preventing the feds from tracking the origin of the btc. I think tumbling is useless if you're just a small time buyer though, LE will really not chase you into the blockchain ground over a few grams of amnesia haze.