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Wallet Confusion

Hello, I am a little confused with the wallets and hoping someone can clear it up.

So first i was thinking I could just get a hardware wallet such as ledger and mine into that, Trezor seems to be really against that and apparently due to the processing overhead “dust transactions” are not allowed, I think that will be the same with Trezor.

From what I could find that cold wallets are mainly used for storing crypocurrency for really long periods of time and a large transaction should be made at once to send.

So I looked into a “Hot wallet” such as exodus, I cannot find any objection to “dust transactions” so think that will be fine.

The issue then I found that, I could not find a way to turn cryptocurrency into GBP for example to purchase new equipment, thus Coinbase seemed to be required, from what I could work out, an “Exchange” would be required to trade currency and I would need an exchange that would work with GBP.

The worry I have here is that I will be paying any profit in transaction fees, for example:

  • Mine into exodus (Network fee)
  • Send to Trezor (Network fee and transaction fee)
  • Send to coinbase (Network and transaction fee)
  • Exchange coin for currency (Network and transaction fee)

Is there an finacially better way for me to be doing this process?

did you ever find the answer to your question? (I have the same)

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