Hi guys,
Was just wondering what is the benefit of using the reddcoin wallet vs just having reddcoin on an exchange. I was going to get the wallet but when I saw it was 20Gig download I didn’t proceed.
It’s simple.
You are the only one who is managing your wallet instead of putting your trust in someone unknown.
You can’t be absolutely sure about the safety of your money there.
BTC-e is an examble for a exchange which was shut down by government.
If I had my coins there, they would be gone forever.
A second good reason is staking.
So far i got a good amount of RDD just for being part of the network.
edit: It should be about 5GB instead of 20GB at this time
1 Like
Electrum wallet offline ! Will the server be restored? What is needed for this?
Safety is the biggest reason. Any exchange can get troubles from hackers, governments, corrupt employees etc.
In your wallet it is safe and no one can ever get to it. The staking is just an very nice extra bonus, but even if you dont stake I will always move funds as soon as possible out of any exchange.
ball0r
Thanks for the reply mate, the download is 20G not sure how you got it for 5G ?
Also another question i don’t think i can transfer my coins from Coinspot to the wallet is that right ?
triplex11
The blockchain files of my fully synced Reddcoin core wallet are using about 3,5GB.
Are we talking about the same programm?
For me it looks like it should be possible to send Reddcoin from coinspot to your wallet.
But I’m not registered there so I’m just guessing.