Hi. Forgive my ignorance, but I have some funds in a Daedalus wallet but the figure never fluctuates in response to interest or losses. How do you view how your funds are effected by daily changes in the market?
Thanks
The ADAs in your wallet are and will remain just ADAs.
You can transfer them back to an exchange of your choice and trade to other FIAT or crypto-currencies.
Or you can just watch public marketplaces like coinmarketcap to see how your ADAs perform.
In the meantime I would recommend to watch and read some of the awesome strategies and features that we can expect from Cardano/ADA.
Thanks for the speedy reply!
I feel really stupid, but I thought with the wallet being connected to the blockchain I could see my funds rise or fall as with Coinbase for example?
Are you saying that whilst my funds are in Daedalus they will be unaffected by the market and I need to put them back on Binance to make any profit?
Thanks
not exactly
regarding the rising or falling value there is no difference if you store them in your personal wallet or on an exchange.
It’s like you keep your paper/metal Dollars at home or you store them in a bank account. The value is the same and goes up and down with all other dollars.
Benefit of keep ing it in your personal wallet: it’s your’s and only yours.
Benefit of having them on an exchange: you can quickly trade it to other currencies.
Ok great.
Thanks so much for taking the time to clarify.
I started with Coinbase and it’s great to instantly see if you’re losing or gaining interest on there.
But of course the security of Daedalus is definitely worth considering. Ill probably split my Cardano between wallet and Binance for now.
Thanks.
I can’t transfer them back to binance now. Been trying all day. The address binance deposit address won’t paste into my daedalus wallet. Why can’t I move the ADA that I bought off my Cardano wallet?
you might want to check out some other apps to watch the performance of your investment in real time, without needing to put your ada on an exchange.
Examples:
cointracking.info
Thanks for that.
I had been using several different sites to check performance of individual currencies but the link you sent seems really good for viewing all at once, as well as going into specifics.
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