Sorry if this post would be better placed in another category.
I’m new to mining and based in the UK. I have one L3+ miner currently using litecoinpool.org, I’m also looking after two other peoples L3+ miners (11 miners in total including my own). I’m learning whilst going and feeding the info back to the other two or point them in the right direction.
At the moment we’re using Coinbase individually as a wallet. The machines have only been running a little while and haven’t amassed a great deal of rewards and LTC is low value at the moment so obviously nowhere near the cashing out stage yet. But I’m wondering if Coinbase as a wallet is ideal in this scenario as somewhere to store rewards/coins (not trade). Coinbase cannot transfer funds (when the time comes) in GBP to a UK bank account and can only transfer Euros using SEPA.
I’ve seen hardware wallets such as USB sticks but cannot get my head around how the coins get on there in the first place (so bypassing coinbase and going straight from litecoinpool.org to the hardware wallet). Also is it possible to back up hardware wallets?
I’ve tried to download the official LTC wallet app for android but every time I click the link it Google Play Store says it’s not available.
When it comes to cashing out, do you sell LTC or just convert to your currency (or is this one and the same thing?)
Sorry if these are naive/stupid questions.