Don't hold your coin on exchange for long time. - page 7.

hacekd

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Quote from: panjul07 on June 11, 2018, 02:11:59 PM

Quote from: john1010 on June 11, 2018, 10:21:46 AM

There is an advantage and disadvantage both.. If you have no coins in your exchange wallet, how about the constant pump of the coins you are currently holding, transferring coin in one's exchange wallet consume more time, and when the coins arrived in your exchange wallet, the pump/dumb are gone, so you missed the opportunity of a big profit.. Choose exchanges with a higher level of security.. my opinion.

What you say is true, but it will be still wiser to cut down the profit than risking all our assets in an exchange. No matter the exchange has the highest security level, something unexpected may happen anytime. OK they are safe from hacking attempt, but how about scam attempt from the owner of the exchange? We cant fully trust something in this online world especially if we talk about "money".

it's better to use a well-maintained exchange from start of storage security as well as trade and that really is not any fraudulent site it will be safer.

coin_1122

full member

Activity: 1134

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Yes, it is really bad idea to keep holding your coins on the exchange because we don't know when those exchangeges will get hacked. It is better to hold only day trading coin, other coins you can move to their desired wallets.

Usafstar

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I think a professional trader will not hold one coin for long time but they will exchange when the time is good for exchange and now a days many other coins are circulating in a high ratio so exchanging coin is the better option for growth.

Dudeperfect

hero member

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Merit: 534

Exactly! It doesn't make any sense to hold funds on any website, exchange or web wallet unless you are going to use it immediately. I am using a paper wallet with multiple backup copies stored in multiple geographical locations as my main cold storage, then I am using the Trezor wallet as my active wallet and I also use web wallet for easy accessibility but never keep more than 5% funds there.

Phantomberry

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I agree with that in order to more secured your coins or tokens you need to transfer that in your personal hardware wallet like trezor or ledger nano than rather to stay in a exchange.

webdevmastery

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Quote from: The Cryptovator on May 26, 2018, 12:50:43 AM

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.

Holding your coin on a exchanger is just fine as long as the market is very reliable, you can always look on the history of the exchanger if there's an issue before or ask a reliable person on what exchanger is the best market to place your coins.

gghh111111

newbie

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Yes. I had bad experience with coinexchange
They staked my coin and got profits.

binhbaamboo

newbie

Activity: 34

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I agree with your opinion, we should store in personal hard wallet, most of crypto exchange can be hacked anytime, many famous exchange hacked this year like bithumb, binance

cryptolidus

member

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Merit: 10

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.

gabmen

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Quote from: cryptocurrencyguru on June 17, 2018, 04:19:24 AM

it is advisable to hold the coins in the hardware wallets rather than holding in exchange for a long time as we are seeing many exchangers are vulnerable towards hacking hardware wallet is safe

Well i don't see any good reason why you have to keep your coins in an exchange unless you're actively day trading. Hardwallets are the best but being careful is essential. If you're planning to hold your coins, there are wallets for since as they always say, you don't really own them if they're not yet in your wallet

holtzmann

newbie

Activity: 179

Merit: 0

To hold coins on the exchanges is really dangerous. That's actually a disservice to hackers. Even if they have two-factor authentication, SSL certificate and encrypt the data. I agree with the author of this post, don't hold your assets on exchanges. Better use hardware wallets for storage for a long time.

cryptocurrencyguru

member

Activity: 280

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it is advisable to hold the coins in the hardware wallets rather than holding in exchange for a long time as we are seeing many exchangers are vulnerable towards hacking hardware wallet is safe

mware

full member

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since cryptocurrency become famous, cryptocurrency exchanges begin to become the target of hackers. no exchange is impenetrable to hackers or invulnerable to bankruptcy. keep them in wallets where you have the private key it's will be better

Boldmaxx

newbie

Activity: 70

Merit: 0

It is simply safer and highly recommended that tokens should not be stored on exchange because of the risk involved. But if you are day trading, moving coin to and fro between an exchange and wallet is not very economical. But wallet still remains the safest place to hold your coin/tokens.

candy69

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Activity: 392

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Exchanges can get hacked and you would lose all your coins, so it is not safe to hold your coins on exchanges. Many exchanges suffered hacking attacks in the past.

kejot

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"OPEN GAMING PLATFORM"

Ofcourse. That is not a good option when you want to hold your coins on exchange, sometime we doon't recognize that there is a malware attack on that exchange, to keep safe your coin you must transfer your coin to your personal wallet or hardware wallet, for a coin that has no hardware wallet, i think you should to sell it as fast as possible if you think you have profit on selling it.

mornabo

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Quote from: BitcoinMarketer39 on June 15, 2018, 03:39:43 PM

Quote from: The Cryptovator on May 26, 2018, 12:50:43 AM

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.

Holding your coins on exchanger is fine but the only problem is that, if the problem occurs in their own system then your coins might be stolen from you and that is the reason why i prefer placing it into the wallet.

Yeah whenever they can be a scam, with reason their system is hacked, as happened in bitfinex, mt gox and so on, from that we know that keeping all funds in exchange is not the right idea, maybe it's not a problem to hold just to do trade only, but do not keep all your money in exchange dude

kerajaangosip

newbie

Activity: 14

Merit: 0

I always hold my coins in exchange and nothing happened, I think this depends on his exchange and his security

kerajaangosip

newbie

Activity: 14

Merit: 0

I always hold my coins in exchange and nothing happened, I think this depends on his exchange and his security

Papcio77

sr. member

Activity: 841

Merit: 251

Good tips for newbies here, yes better to hold in your own wallet that only ourselves can manage and take care of it. In exchange there is possibility of being hack. We dont have hand to avoid this thing. Just like what happen on etherdelta more trader got loss their funds. Deposit then withdraw after all coins and be deposit again if you want to trade.
But if you are daily trader so its okey to keep funds on exchange just make sure trade on known top exchnage like binance

Topic: Don't hold your coin on exchange for long time. - page 7. (Read 1563 times)