The alternatives are a hot wallet or hardware wallet. You should familiarize yourself deeply with how wallets work and your responsibilities in keeping your funds safe before migrating from a centralized custodian to a non-custodial wallet. I keep my most of my ETH in a hardware wallet with some in stETH, some in rETH, some in regular ETH
this post was submitted on 28 Nov 2023
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Lookup staking eth om exodus
After getting screwed by staking on Gemini, I’ll never stake again on any platform.
Just wondering why you're looking for alternatives.
I've had nothing but good experiences with Coinbase - and it's safe.
You can use Railway wallet. Not only is it Ethereum and other EVM compatible, it also lets you make private swaps. If you're big on privacy as an additional layer of security to self custody, then you'll like this.
Gnosis Multisig, with Coinbase, Rainbow and Ledger for TX Signing.
Coinbase is safe
So eas mt Gox
How can you be so sure of that?
Bizarrely enough, being a publicly traded company makes me feel a bit secure. However, it's best not to leave all your money in one spot. I keep 1/3 on coinbase and 2/3 on a ledger. Hell, i Might lose the ledger! My kid thought it was a USB drive and was trying to use it to store some kind of 3d printer file!
I'm like....dude, that's not for you.
Losing the ledger itself is not a problem.
Nobody can, but if you had to pick an exchange then Coinbase would probably be one of the safest.
Luckily you don’t have to pick an exchange, you are free to custody your own funds (which is the whole reason crypto exists). So if you don’t want to take any chances on the solvency of a centralized entity just get yourself a Trezor and self custody.
Blackrock.
No it's not. Coinbase doesn't allow users to own the keys to their wallets, which means if you store with them they own your coins.
Absolutely NO exchange is safe to store funds.
Get a hardware wallet or use MetaMask or another digital wallet that provides you with your keys.
Lord, have you seen the dusted metamask posts here every single day? Coinbase with TOTP or yubikey 2fa is much better
I'm not saying MetaMask is the best option. Hardware is. I'm saying the issue lies with the fact that if you don't own the keys to where the coins are stored, you don't own those coins.
Best in class security is a gnosis wallet vault, and hold a stake derivative there. Coinbase eth is a thing, but also Rocketpool Eth (rETH) Swell eth (sweth) etc
Exodus Mobile App - Non-custodial Hot-wallet that you can stake on. If you only use the App and don't use the same wallet/seed phrase on other wallets (like meta-mask and other smart contract apps) then I'm not aware of anyone who has had issues. Exodus stakes via EverStake.
Coinbase is as safe as it gets. Its custodian for Blackrock.
Buy rETH and store it in a Trezor that you keep in a drawer. But Coinbase is probably the safest online option you're gonna have.
So random seeing a Slime Boss avatar in the ETH sub lol
Why is a stake derivative like rETH the safest option. Particularly, why is it safer than holding regular ETH?
It isn’t.
Sometimes the safest option tends to surprise. Hope we don't see more of this scenario.
I'd leave it on Coinbase as well.
But the fact that that's all of our answers should set off fire alarms. Ethereum will be centralized.
Leaving large amounts of money in Coinbase is not a wise choice! I think you can use Defi wallet to store it. In this way, the U.S. government cannot freeze your funds at any time.
Use a yubikey..
rocketpool
Trust wallet, Loopring wallet. Pretty much anything self custody.
Disagree with recommending Trust wallet. It's owned by Binance and there's countless users who have had their funds randomly funneled out of their accounts and into accounts that are connected to Binance.
Absolutely one of the worst wallets to use.
Also very expensive I used it once the fees were exorbitant
Gemini
but my brethren in christ..
Coinbase for the win, it’s not even close.
Stop storing coins on exchanges. Jesus Murphy.
Exodus
Was FTX not enough for you guys to understand? How much do you need to suffer? Jeez. Noncustodial wallet is mandatory.
rETH in Gnosis Vault with multi sig auth.
Check out Coinbase web 3 wallet
Exodus got wallet or get a cold wallet only safe ways. Each is more secure than the other. Keeping crypto on an exchange is dumb bc it is not yours; is custodial by them. Not your keys not your crypto.
cbETH???
Good thread, thx, trying to learn.
I prefer self custody - metamask or any other wallet really.
For staking, it's pretty easy and safe today with established platforms like Lido, RocketPool, etc.
Oracles like DIA have been working on the Liquid Staking space, bringing tools like fair pricing and on chain audits (collateralization) bringuing peace of mind to its users.
I personally have my ETH on a Ledger wallet and use it through Metamask, mostly on Lido.
Metamask has been tried and tested. It's fully open-source, and has been in plain eyes for many years now. No need to re-invent the wheel. Make sure you download from the proper source, perhaps on a new computer or freshly formatted, and write down your seed phrase. You'll be good to go. Just keep it locked anytime you're exploring web3 apps, until you're 100% positive they are legitimate. There are so many phishing scams that target many ethereum dapps and wallets.
Get a hardware wallet please. Ledger or trezor.
Coinbase is safe and as easy as it's going to get to stake. I'd just keep it there. If Coinbase goes belly up, hacked or turns into an FTX scam, we're probably all fucked anyway.