Stop Loss using Ledger?

#1

Hey people,

I always hear that i should not store a lot of crypto in an exchange but better in my Ledger x.

At the other side i hear to always put a stop loss.

Is it possible to put a stop loss in the ledger or does this only work on an exchange.

If so, is the strategy to make the trades ( for example a da or a week long ) with all the amount on the exchange and let it there, and when i change it back to btc or usdt put it back on the Ledger?

Some currencies are not covered by Ledger, what to do with them.

How save are mobile wallets for these cases?

I know these are many questions. I would be very thanksful for some tipps here.

2 Likes
#2

Hi @Philipp , try to check this ledger service https://www.ledger.com/swap you need to install exchange app in your Ledger … the ledger connect you with centralized exchange partners (think you need a KYC for that)

I personally would not recommend putting stop loss on your main portfolio…can take some 10 percent and make a trading strategy with stop losses and take profits but that’s just my personal opinion :wink:
Everyone has their own personal strategy…

check the DeFi 101 course maybe you can find some good features in Dexes for your needs…

i think if you use mobile wallet on android you need to make sure to install the updates of the OS quickly and dont connect to public wifi but for me it’s one of the most unsafe way to keep crypto…

1 Like
#3

Wow, good to know all this, thanks a lot. so where can i store erc 20 tokens that are not supported by ledger?

#4

And how people put a stop loss to coins with a big value? i dont think that somebody has 5 Btc in an exchange to have the stop loss set up.

#5

https://www.ledger.com/supported-crypto-assets/
check there and you always can use your MetaMask Wallet or Brave Wallet

1 Like
#6

Ok, thanks a lot. Thats very kind of you

1 Like
#7

Always glad to help :v: Good luck :pray: :slight_smile: :hugs: