Exchange or Wallet? - page 110. | Bitcointalksearch.org

ulia93

member

Activity: 117

Merit: 10

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

Many advise not to keep your coins on exchange and that's right, but there are examples for example related to the need to store 10, 15, 20 different coins and for this it is difficult to create cold wallets on your computer. Therefore, if the amount is not large and if the coin was bought not for long-term storage, then it is easier to keep it on exchange. And in the event that you plan to store for a long time, then you definitely need to create a cool wallet on your computer and be careful with viruses, otherwise you can lose everything even having a cold wallet.

susyoke

member

Activity: 196

Merit: 14

repme.io

Very simple;
Exchange: You don't have the private key. Not safe.
Wallet : Safe forever , because you can control that coins.

Use Exchange for trading only.

Sahyadri

sr. member

Activity: 744

Merit: 266

The best way is to either use a nano ledger or a desktop/mobile wallet on a device that you don't use for anything else. I have seen people getting hacked by infected softwares that hacks the desktop or mobile wallet by accessing the sensitive information and also people getting hacked because of crashing or hacking of an exchange. Only keep that much amount on exchanges that you require for trade. Coins that you are holding for long term, should be kept safely in a different device or hardware/paper wallet.

akmittal

full member

Activity: 252

Merit: 102

It is batter to keep your Coins in a wallet instead of exchange. Because you have to keep extra record if you keep your coins on trading exchange. Most exchange does not provide summery of your holdings.

RedJose

newbie

Activity: 55

Merit: 0

Quote from: kloinko1n on March 05, 2018, 09:24:53 AM

Keeping coins in wallets is safer. All of us many times heard and breaking of exchanges, about abduction of all money by owners of exchanges

Right. I think wallets are much safety. Though which wallet us the safest one. Sure not taking into account Hard wallets. But combining wallet and scanner like coinmonkey would do a greater job

winfair

member

Activity: 130

Merit: 10

Of course keeping coins in our wallet are safe to get more coins because I can read all comment about exchange so its better to keep are token in wallet

beigai

member

Activity: 168

Merit: 10

Yeah, more and more coins/tokens of exchange have been stolen recently.
So if it is not to be traded right away, it's better to mention you to take the coins to your wallet.
And put your wallet, you can force yourself to hold the coins for a long time.

Elby

member

Activity: 252

Merit: 10

Lose money on exchanger most likely and you will not get coins back.

shekinahmarie13

newbie

Activity: 56

Merit: 0

It depends on the situation, it’s better to have a wallet if you want to keep it. But if you’re in trading, it’s better to exchange. But I suggest to keep your coins and tokens in your private wallet, because it is more safer than exchanging. Exchanges get hacked and your coins and tokens will be lost. So it is more safe to better use Wallets for storing your coins and tokens.. Exchange immediately!

aborjin

sr. member

Activity: 378

Merit: 250

Definitely wallet safer.There have been many attacks on stock exchanges in the recent period.

Pattart

hero member

Activity: 1190

Merit: 500

Quote from: philadey30 on March 05, 2018, 10:35:16 AM

Personal wallet is more safer compare to exchange, in terms of holding for long term and also controllable.
Keeping your coins on exchange wallet is at your own risk, because exchange may shutdown anytime and once this happen, all your investments will get lost forever.

For the sake of long-term saving of course the wallet is the main choice but for users who often use their coins to trade it will probably have more prefer to save their coins in exchange. I think to avoid the risk of that site is shutdown. you should find a really safe exchange site and I've found it in a local exchange in my country. so I have no doubt when saving lots of coins in exchange..

joelembiid

newbie

Activity: 154

Merit: 0

wallet. I do not trust the exchange. I can hold long term

aalborg

full member

Activity: 602

Merit: 100

It depends on your coin turnover. If you constantly make some operations with your cryptos, it is better to save it in Exchangers. But I advise to use wallets for large amounts of coins.

yannick225

full member

Activity: 336

Merit: 100

In my opinion even the most reputable bitcoin exchanges are suspect. Not because of intention but because of the many ways an exchange is subject to attack. An onsite wallet service is no better. As I said earlier anything that touches the internet is susceptible to assault. Therefore you might consider making rules? storing 90% of your bitcoins in an offline wallet and 10% for spending or investing elsewhere, but you can do what you want.

korchenkov

newbie

Activity: 168

Merit: 0

Unfortunately there are times that your unable to take a coin off of the exchange because your not allowed. then you have no choice. so to prevent this, whatever exchange your work with, make sure you can withdraw it before buying. Otherwise you have only 2 choices. sell (possibly for lower amount) or leave on exchange until you can withdraw it.

Gunpaycity

member

Activity: 294

Merit: 10

Quote from: chukaday on February 12, 2018, 02:40:48 PM

If the coin or token has a wallet you should most definitely use it. The downside will be you having to manage another wallet.dat or whatever but that price is small to pay if an exchange gets hacked or goes down.

if the price of our coins are predicted to rise in a long time we should save in our wallet with all the risk but if the price is good I think we only need exchange

donotlean

full member

Activity: 182

Merit: 100

if youur coins at good exchanges such as bittrex or binance you dont have to worry but always hardware wallets are best way to keep tokens but i have not.

ankit05

full member

Activity: 392

Merit: 100

I thing wallet is better to store your coin because the exchanger sometimes closes but sometimes there are hackers hacking your wallet. So both is good.

philadey30

newbie

Activity: 158

Merit: 0

Personal wallet is more safer compare to exchange, in terms of holding for long term and also controllable.
Keeping your coins on exchange wallet is at your own risk, because exchange may shutdown anytime and once this happen, all your investments will get lost forever.

mr.bitcoin2k17

newbie

Activity: 84

Merit: 0

For keeping money wallet is safer

Topic: Exchange or Wallet? - page 110. (Read 8740 times)