Topic: Don't hold your coin on exchange for long time. - page 6. (Read 1563 times)
I advise you not to keep these coins in the long run. When you have enough profit should sell immediately, do not let emotions dominant to expect the coin will continue increase prices. Coins for too long will easily lead to sharp discounts, theft, hackers, ...
You know, you are right but this principle will not be applicable to someone who is always on the exchange for day trading. YOU cant day trade withoud holding your coin on the exchange. The business there is buy and sell. So I am pretty sure they know the risk involved involved in holding your coin on the exchange. But for those who really are not in day trading, it is best you don't try to save your coin on the exchange. Hackers are everywhere.
If you want to hold your coins you can do that anyplace mate. Please review about the good wallets and have your fund on it for keeping the security concerns like 2FA and .JSON file saving it securely mate.
Since the exchange wallets are open to access by everyone on the wallet support you cannot say that wallet is secured one mate.
Since the exchange wallets are open to access by everyone on the wallet support you cannot say that wallet is secured one mate.
This is a vital advice. For me, I only resort to leaving some coin on an exchange when I have the plans to sell it off soon. Or the coin has a wallet I can't download at the moment - I'll simply get address from the exchange and use. We can't predict when an exchange will get hacked. It is important to keep our funds where we have control over. Another concern is, what if your hardware wallet gets corrupt or something. You loss everything right? Same with desktop wallet
Yes i totally agree with you.
We can't underestimate by saving our coins to exchangers even they are famous exchange and safer.
As for the decision we should save our coin directly to our desktop wallet or maybe it could be wiser if we store it by using hardware wallet such as trezor.
hardware wallet is 100% safe but if you don't have you can keep it in the desktop wallet and some coins have only online wallets those coins we can store it in online. In exchanges, we keep only new tokens which don't have separate wallets like a desktop or online wallets. Some exchanges we can believe but why risk.We can't underestimate by saving our coins to exchangers even they are famous exchange and safer.
As for the decision we should save our coin directly to our desktop wallet or maybe it could be wiser if we store it by using hardware wallet such as trezor.
Yes i totally agree with you.
We can't underestimate by saving our coins to exchangers even they are famous exchange and safer.
As for the decision we should save our coin directly to our desktop wallet or maybe it could be wiser if we store it by using hardware wallet such as trezor.
hardware wallet is 100% safe but if you don't have you can keep it in the desktop wallet and some coins have only online wallets those coins we can store it in online. In exchanges, we keep only new tokens which don't have separate wallets like a desktop or online wallets. Some exchanges we can believe but why risk. We can't underestimate by saving our coins to exchangers even they are famous exchange and safer.
As for the decision we should save our coin directly to our desktop wallet or maybe it could be wiser if we store it by using hardware wallet such as trezor.
I am 60/40 on this in favor of not storing your coins in an exchange site. We all know the risk involved in storing your coins in an exchange site but imagine the problem that you will need to go through if you found a good opportunity in trading. Before your deposit shows up in the exchanger, opportunity is gone. Furthermore, every time you cash out and cash in involves fees coming from your wallet and going out from the exchanger.
Yes i totally agree with you.
We can't underestimate by saving our coins to exchangers even they are famous exchange and safer.
As for the decision we should save our coin directly to our desktop wallet or maybe it could be wiser if we store it by using hardware wallet such as trezor.
We can't underestimate by saving our coins to exchangers even they are famous exchange and safer.
As for the decision we should save our coin directly to our desktop wallet or maybe it could be wiser if we store it by using hardware wallet such as trezor.
If you wish to hold some coin then use exchange only for during exchange. Just exchange your coin and transfer on your personal wallet that you have controlled. Specially you can use hardware wallet.
Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.
I strongly believe that you should not invest long term at this point, you can see that bitcoin prices are constantly fluctuating and difficult to guess, the market is bearish in the long term, because So we can only know the bitcoin price will decrease but can not know exactly at what time. So if you keep long term coin it will be very dangerous and very risky if the bitcoin price drops sharply. Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.
That is true. For safe keeping purposes we should always keep the coins in the wallet and not exchanges because our investment might be hacked and we can’t even benefit from it.
I think in the world of cryptocurrency one must be ready to accept all the risks that arise suddenly so when they insist on continuing to hold an asset for a long period of time, caution is needed to anticipate big losses.
If you wish to hold some coin then use exchange only for during exchange. Just exchange your coin and transfer on your personal wallet that you have controlled. Specially you can use hardware wallet.
Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.
This is totally right, As of now that many exchange got hacked that's why i never hold my coin in exchange if i want to hold it i will withdraw it and hold it in my wallet to make it secure Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.
Your statement is not completely wrong. But some people like to hold their coin in there hardware wallet so when the value of their coin rises they get their profit. Many people earn a lot by holding their coins. but you have to be smart and take information about the price of that specific coins ups and downs. If the market value is good you can exchange.
For BTC or ETH you should hold long time. But other crytos you must sell all when it gets on big exchanges.
Almost every week some Exchanges are hacked. The newest hack happened on Bithumb yesterday and $30 millions were stolen. There is no 100% secure exchange. The only question is when they will be hacked and will You be affected or not. Only the trading amount should be left on exchanges. The most secure way for storing Your investment is on hardware wallets bought from the official distributors.
In long term trading you will need to look for the Bitcoin and Ethereum because these two are favorable for long term trading or investment. These are having long term trusted store of value and you will get profit if you wait for the price to go high and then sell it. Come out from complications and just follow the market rules in order to survive in the market of your desired selection.
Honestly, I don't store my coins in my personal wallet because it is more hackable than exchange wallet. I only trade in well known exchanges like Binance, Bittrex and Poloniex because I believe their security system stronger and safer. Besides, my coins value is not more than 1 BTC, so I think storing my coins in exchange is a good option. Would be convinient if I want to trade it in instant. Do I forget mentioning transfer expensive fee from exchange to personal wallet?
I think if you can verify your account with verification of mobile verification email and 2F Authentication correctly from your account, Hackers do not have a chance to steal your money and you are free from loss. And I think they just created an account, they just put a token without reading the terms and conditions and verifying the security
I don't think by that way they can hack it because they might hack the exchange and once they got access to everything in there they can bypass your email and Google authenticator without requiring it. Everything is possible with hackers and that the reason wjy it was never been advised to hodl it on exchanges.
I think if you can verify your account with verification of mobile verification email and 2F Authentication correctly from your account, Hackers do not have a chance to steal your money and you are free from loss. And I think they just created an account, they just put a token without reading the terms and conditions and verifying the security
If you wish to hold some coin then use exchange only for during exchange. Just exchange your coin and transfer on your personal wallet that you have controlled. Specially you can use hardware wallet.
Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.
I think you should not hold any long-term coin at this point, can see that the market is continuing its bear market as bitcoin prices are constantly falling throughout the days. The dramatic fall in bitcoin prices has led to a sharp drop in altcoin prices, and according to my analysis, bitcoin prices may continue to fall sharply in the coming days so you should not keep any coins at the time this. Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.
But I personally hold for a long time we can choose to sell pennies at reasonable prices. So I think in the future the price of the altcoin will increase sharply, they do not decrease as strongly now.
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