Ledger Query

karltimber

Hi,

Currently I have cash (euro & Busd) sitting in Binance waiting to purchase, whenever that time comes.

But if I want to portect myself, and not leave my cash just sitting on an exchange, whats the best way to transfer to my Ledger-X.

I know I could transfer back to my bank account, and then out again, but would prefer the speed of binance-to-ledger and vice-versa.

Am i correct in saying - to purchase a stable-coin and transfer that to my ledger ? if so - please expand on this please.

Thanks.

KilOit

Straight forward enough with Metamask. hardware wallet creates another address on metamask and you can simply transfer BUSD to that from Binance. I have 3 chains on mine, Polygon, ETH and BSC all on one address

https://support.ledger.com/hc/en-us/articles/4418163288081-How-to-access-your-Ledger-Binance-Smart-Chain-BSC-account-via-Metamask?docs=true

Potatoeman

If Binance goes insolvent then BUSD will be too. Stable coins are best kept for short term purposes not kept in cold storage.

KilOit

https://www.boards.ie/discussion/comment/119871790#Comment_119871790

I took that advice in 2018 with USDT and lost out on hundreds of thousands as a result on the next bull run. Not this time though. If Binance goes bust then crypto is over for the foreseeable future, expect 1k btc and 100$ ETH

polysteamtoken

https://www.boards.ie/discussion/comment/119874357#Comment_119874357

Other way around for me. I should have got usdt because I had to spend money on things and only had crypto. The bulk run started a long time after 2018 though. About two years & then recently last year.

I don't think crypto will crash if binance went down. They might have a large market share bit not everything. People will just move elsewhere. I don't use them because they too central and rather my fees go to smaller exchanges binance make enough. 😂👍