Exchange or Wallet? - page 106. | Bitcointalksearch.org

ovcijisir

sr. member

Activity: 1491

Merit: 320

🐪

Quote from: darth_cryptorider on March 11, 2018, 11:51:06 AM

I prefer use cold wallet. You can choose between trezor or ledger nano. I have a bad story with exchanges wallets, often lose coins

Yes there is a risk in holding your cryptocurrencies on exchange, but hardware wallets can be quite costly and not all can afford it. I haven't had any bad experiences with exchanges so far, but that's probably because I have only small amounts of money there.

btccrusher

member

Activity: 742

Merit: 12

If you want to hodl for a long time then definitely you should go for wallets. But if you are ready to trade then exchanges are good to go. I prefer multi-coin wallet instead of many wallets.
Why wallet? - It's secured. Also, some coin gives you stakes for Hodling in the wallet.
Why not exchanges? - As it's running over the internet, it can hack, damage or something evil. So your coin may be at risk.
I use exchanges when I'm ready to trade within three months at least, otherwise, I keep it in the wallet.

friday99

newbie

Activity: 96

Merit: 0

I think it's better to use a wallet as this can make it safer on the altcoin we already have. such is the reason for providing security.

VB32Bit

newbie

Activity: 24

Merit: 0

I've been using multiple exchange wallets but I have a nano that I'm going to setup.

darth_cryptorider

member

Activity: 470

Merit: 16

I prefer use cold wallet. You can choose between trezor or ledger nano. I have a bad story with exchanges wallets, often lose coins

nadbucs

jr. member

Activity: 182

Merit: 5

If you are planning to keep your coin for long term it is better to keep it in your wallet. But i think it is not advisable to keep it in a single wallet alone for security reasons.
If you are planning to trade a coin in a short period of time it is better to keep it ready in exchange so that when the value suddenly pump you don't need to wait for the transfer period from wallet to exchange.

eMusic

newbie

Activity: 25

Merit: 0

Depends if you're a trader, a coin hoarder, average joe etc.
Distribute your $$ across wallets and exchanges; just be sure to do your research and choose wisely

: )

bvg96634

full member

Activity: 482

Merit: 117

i refer to you probably wallet is the better option because it is safe and less chance to stolen your altcoins. yourself keep your private key then only it is safe. in exchanger you are giving private key to the exchanger. so better keep your altcoins in wallet. then only it is less risk.

kulakvlad

member

Activity: 294

Merit: 10

Keep in the wallet more safely. But I keep in my ledger nano s only the BTC . Other alts on the stock exchanges.

PhucS

sr. member

Activity: 742

Merit: 250

Quote from: Janinjo11 on February 12, 2018, 01:55:57 PM

I have a question.

What is better? To keep your coins on some Exchange site or to open wallets for each coin?

I would like to hear some advice. What are pros & cons of each option?

Thanks

I think this problem depends on each person. If you are a trader, you should keep them on the exchange site because it will be very convenient for your transaction. And if you do not trade often, you want to keep them to get profitable, then I recommend you store them in wallets, it will be safer. And there is a note that when you save Bitcoin and other altcoins on the exchange site, you need to enable 2-step verification, enabling maximum security settings to avoid hacker invasion

iamsether

jr. member

Activity: 98

Merit: 3

I am currently holding my altcoins on exchanges since as far as I know not all coins have their own wallets. I am planning to move them on my MEW though except for Bitcoin and ETH because there's already a wallet app here in our country where I could exchange them easily into fiat so I prefer to leave them there. If only there's a wallet app that accepts all coins and could easily be converted into local currency, that would be awesome.

andra73

member

Activity: 430

Merit: 10

terra-credit.com

I think to save altcoin so it can be safer better on the stock and even then if the listing, but if still not better on the wallet only because the wallet already has a private key and this will provide security to altcoin that we have.

thorium232

member

Activity: 224

Merit: 10

It depends on your investing strategy. You can keep tokens on exchange if you are going to speculate.
In case of long-term investment it's better to hold coins in wallets. The best - "cold" wallets and Ledger.

mrPix

member

Activity: 308

Merit: 29

If there is good wallet for the coin/token - of course wallet. But sometimes the coin wallet is a piece of shit with many technical flaws, so in this case use few exchanges.

ChristianPogi

sr. member

Activity: 644

Merit: 252

I'm just a Nobody.

Quote from: freedoom on March 11, 2018, 09:34:06 AM

If in the long term - it's best to keep it on your wallet - it's safer.
The Exchange does not give any guarantees, they can close tomorrow, for example, and what's next?

I heard a stories that there's an exchange shutdown their platform and gone forever. I forgot the name but this is an example that we must not stored our coins in an exchange. In order to protect our money from the thief.

CryptoCa$hSieb

newbie

Activity: 6

Merit: 0

A combo of both?! I like to do a combination of exchanges and hot/cold storage. In order to increase my liquidity and access to the market at all times, i like to spread coins across multiple exchanges and limit the amount I keep in each one, reducing my risk exposure. Large majority of coins should be held in a secure hardwallet like trezor or nano ledger. Furthermore, temp storage of ERC-20 tokens on meta, myetherwallet can create flexibility and liquidity along with the integration of hardwallet verification

ciplut

newbie

Activity: 111

Merit: 0

if we will soon sell the token it is better to save on the exchange because if the price is good we can sell directly, if not soon we sell better and save in wallet BTC

RiskySanchez

full member

Activity: 588

Merit: 100

I usually keep it in trusted and safe exchanges ie Bitrex and Binance because I'm a trader but that depends on the coin I have. If it still does not enter that in list then I keep it in MEW and it's integrated with authentic Ledger with double protection. I advise anyone who wants to keep their coins safely using ledger its worth it. I have tried it

freedoom

newbie

Activity: 201

Merit: 0

If in the long term - it's best to keep it on your wallet - it's safer.
The Exchange does not give any guarantees, they can close tomorrow, for example, and what's next?

jdeanne92

member

Activity: 392

Merit: 10

For me i would put my trust in walet. It is not that i dont trust exchange wallet. Im just avoiding case like exchanges being hacked. That incident is very common nowadays. And im not risking my chances

Topic: Exchange or Wallet? - page 106. (Read 8740 times)