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I got this thing because I made a decent bit off flipping bitcoin before Robinhood let its mask slip and everybody jumped ship, so I rolled the profits from that into a Ledger Nano X because I figure why not reinvest those earnings and trade the right way?

I've been meaning to get crypto to get my assets out of USD so I'm insulated from the coming hyperinflation, but now that I've got one and I'm looking into how it works it seems like more trouble than it's worth. I set me Ledger up with Ledger Live, did all the seed word bullshit, then when I went to actually trade I saw how high the transaction and "handling" (excuse the fuck out of me?) fees were and if I didn't know any better I'd say this whole Bitcoin thing was a scam.

I did some looking into it and apparently Electrum is a better solution, but then I'd have to create a new wallet with new seed words, I don't even know if it'll use my Ledger for authenticating transactions, and this is turning into a shit show pretty fast. Which is why I'm here asking for advice from people who already trade crypto with a Ledger.

I got this thing because I made a decent bit off flipping bitcoin before Robinhood let its mask slip and everybody jumped ship, so I rolled the profits from that into a Ledger Nano X because I figure why not reinvest those earnings and trade the right way? I've been meaning to get crypto to get my assets out of USD so I'm insulated from the coming hyperinflation, but now that I've got one and I'm looking into how it works it seems like more trouble than it's worth. I set me Ledger up with Ledger Live, did all the seed word bullshit, then when I went to actually trade I saw how high the transaction and "handling" (excuse the fuck out of me?) fees were and if I didn't know any better I'd say this whole Bitcoin thing was a scam. I did some looking into it and apparently Electrum is a better solution, but then I'd have to create a new wallet with new seed words, I don't even know if it'll use my Ledger for authenticating transactions, and this is turning into a shit show pretty fast. Which is why I'm here asking for advice from people who already trade crypto with a Ledger.

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[–] • 0 pt

Yeah, I wasn't expecting that. I'm probably gonna try to find a time when transaction fees are as low as possible and make an investment. I am planning on sitting on it long-term as a contingency, but I still wanna buy as low as possible in case I ever wanna flip it later.

[–] • 0 pt

If you're new to crypto and looking for safe investments, BTC ETH LINK are all you need. ETH is looking very bullish this year based on recent developments.

9:00-12:00 pm UTC is lowest gas fees btw

[–] • 0 pt

So if I make a wallet with Electrum, would the 24-word seed I got with the Ledger even be used for anything?

And while I was looking around I found a that keeps track of that. Don't know how reliable it is.

[–] • 0 pt

They're really meant for two different purposes. Electrum is more like the Ledger Live app. Electrum can do more but it's meant for making transactions whereas the ledger is intended for cold storage. Electrum also has a cold wallet function but I hear that it's a bit tedious. Ledger automates the process. Both can be used interchangeably and electrum has ledger interoperability but they have somewhat different intended usage.