Can You Daytrade Just Using Coinbase and Gemini?

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darkhashFull Member
Posts: 57 · Reputation: 464
#1Jan 17, 2025, 03:58 AM
I’ve got a nano ledger s plus and mostly I’m just holding crypto. If I’m thinking about day trading: 1. Can I actually do this using only Coinbase and Gemini? Or do I need to set up accounts on Uniswap and PancakeSwap? I keep hearing about MetaMask being a wallet, so would I need that too? I figure I can day trade with these exchanges as long as I'm focusing on the main coins, right? But then again, these coins don’t seem super volatile like meme coins, so I might not see big wins or losses real quick. Plus, I can’t use Binance. 2. What do people usually do with their crypto? Do you leave it all on the exchanges or move it to your hardware wallet every day? I mean, the fees for sending coins around could add up fast, especially if you have a few different ones. Even if you’re not actively trading some coins, you’ll eventually have to send them back to the exchange when you want to sell, and then you have to wait for a bit. But the upside is that your coins would be safer in the hardware wallet. 3. So what about all those meme coins? You can’t really store those on a hardware wallet like the nano ledger, can you? So I guess they have to stay on Uniswap or PancakeSwap or in MetaMask? That means you’d better make sure your computer is totally clear of malware, keyloggers, and other viruses, right? Or is there a way to link those wallets to a hardware wallet for extra protection? If you can do that, wouldn’t it make the coins safe since you need the hardware wallet to authorize transactions? But then that brings up the question of whether the coins are really in the hardware wallet or if they just stay on those platforms but are still secure. 4. If you're just looking to trade BTC, BCH, Litecoin, and other top 50 coins, there shouldn't be an issue keeping...
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