Topic: Exchange or Wallet? - page 115. (Read 8740 times)
I'm more of wallet. It is best practice to securely store your crypto in a wallet that you control the private keys for. A hardware wallet makes this very easy to do, and a user would have to have the wallet in their hands to move the coins.
A exchange is ideal for a person who is more concerned about efficiency,reliability and doesn’t mind security or paying more for quality service.
Holding the private key on self such as a paper wallet is more suitable for a person concerned about security, privacy and self sufficiency.
However if you do want to hold the private key in person, paper wallets is an open option although given that paper tends to deteriorate over time, its best not to have a literal paper wallet, but a paper wallet that is offline and preferably in different formats that can be isolated on a hardware that cannot be easily breached,but definitely not online since then they are more prone to being misused.
Holding the private key on self such as a paper wallet is more suitable for a person concerned about security, privacy and self sufficiency.
However if you do want to hold the private key in person, paper wallets is an open option although given that paper tends to deteriorate over time, its best not to have a literal paper wallet, but a paper wallet that is offline and preferably in different formats that can be isolated on a hardware that cannot be easily breached,but definitely not online since then they are more prone to being misused.
If you are a short term investor, it is better to keep the coins in na Exchange, otherwise move them to a personal wallet
i prefer to use some wallet because it is good for long term uses but if you are a short term trader why not go for the exchange and but you can do use this both for bigger profits
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
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
Generally, I think it is far safer if you save your coins in wallets, hard wallets to be exact, if you want them to be safest. But I think you do not need to create or buy a hard wallet for your every coin. That is not a practical thing to do anymore. I think it is enough to buy a single hard wallet and save all of your coins there. The disadvantage here is if you are a trader, an active one for that matter. You are going to be paying a lot of transaction fees if you deposit and withdraw your coins in your wallet and then to an exchange, and vice versa, all the time.
If you're going to hold it for the long run, better to use wallet for each coin. If you're going to trade the coin and just waiting for the price to pump, better let it stay on the exchange.
Please use personal wallet. Do not store in exchange. Because there are many cases where hack exchange is hacked. and everyone loses everything
It depend on what kind of trader and how much moneydo you invest. If you are day trader then you have to keep your fund stored at the exchange. If you are Long term trader then you should keep your fund in your wallet.
I really think this depends on what exactly you want to do with your coins.
If you are holding your coins for the long term, you should never keep your coins on an exchange.
If you are day trading your coins, I would advice you keep your coins on an exchange because you need to buy and sell quickly for profit.
But overall, its very risky to keep your coins on an exchange. Always store your coins in a wallet that you control your private keys.
If you are holding your coins for the long term, you should never keep your coins on an exchange.
If you are day trading your coins, I would advice you keep your coins on an exchange because you need to buy and sell quickly for profit.
But overall, its very risky to keep your coins on an exchange. Always store your coins in a wallet that you control your private keys.
Don't put your digital currencies on crypto exchange sites. Only use this crypto exchanges when there is a need to exchange your digital currencies. If you only know that there are many cases of crypto exchanges accused of being a scam or got hacked. It's not so safe to put in all your coins there. So use wallet instead of using the former as your digital currency storage. 
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
As for me, it's very simple. 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
To store large amounts, you should choose hardware and desktop crypto-currency wallets, as they are most of all grounded on ensuring the security of your assets.
On the exchange it is necessary to store only small amounts that you plan to extinguish in the near future.
Wallets are safer than exchanges.
Statistically, exchanges are prone to hacks than wallets.
indeed the exchange is indeed a lot of doubt that happened. then we take the risk we better choose the wallet only. Statistically, exchanges are prone to hacks than wallets.
Its depen on what's you going to do. If you are a trader, you have to keep coins on some exchanges. Its good to spread coins on few exchanges to reduce risk.
If you are a investor or long term coin holder, better to buy a hard wallet or offline wallet.
If you are a investor or long term coin holder, better to buy a hard wallet or offline wallet.
There is a big difference between an exchange wallet and a private wallet. With a private wallet, you are the only one controlling the wallet address and its associated private key. An exchange wallet is generated on your behalf, yet you have no control over it whatsoever. Although you can freely use an exchange wallet, it is not your digital property by any means. Unless you own its private key, it’s not yours, nor is any of the money associated with it.
Exchangers are not safe as they can be hacked and if this happens you can lose all your coins.
I think it's better to put your coins in an exchange because you can do whatever you want with it and you are in charge of your profits and loss. The cons is that there is a little bit of chance that you may lose your coins because exchanges can be hacked.
If you want to hold the coin for long term, better transfer it to wallet. i would suggest to use Hardware wallet like Nano S ledger or Trezon.
For trading, you could keep it on Reputed exchange like Bittrex, Poloniex, Binance and bitfinex.
For trading, you could keep it on Reputed exchange like Bittrex, Poloniex, Binance and bitfinex.
If losing your coins would be a life changing event you should consider storing you coins on a nano ledger.
If you day trade then definitely keep the amount you use on exchange.
And if you transfer your money a lot, avoid transferring directly between exchanges because its not 100%. Send coins to your wallet first and then to the new exchange.
If you day trade then definitely keep the amount you use on exchange.
And if you transfer your money a lot, avoid transferring directly between exchanges because its not 100%. Send coins to your wallet first and then to the new exchange.
Wallets are safer than exchanges.
Statistically, exchanges are prone to hacks than wallets.
Desktop wallets have been proven to be probe to hacking as well in certain occasions. Parity and electrum have been such cases. And some hardware wallets have had vulnerabilities as well. For long term storage paper wallets are considered safer. They can be saved with multisig as well for extra physical security. Statistically, exchanges are prone to hacks than wallets.
Wallets are safer than exchanges.
Statistically, exchanges are prone to hacks than wallets.
Statistically, exchanges are prone to hacks than wallets.
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