Keep most of your coins in a wallet, don't keep them on exchanger. It's not safe to keep them in exchanger, you will never know when the exchanger going to be scam or being hacked.
wallet can be hacked to
Topic: Exchange or Wallet? - page 117. (Read 8740 times)
wallet can be hacked to
I think it really depends on some factors. If you want long-term holdings, I suggest you keep it in a private wallet where you have your own private key or wallet seed stored somewhere safe.
However, if you want to do day trading of your crypto assets, you should transfer them from your wallet to the exchange platform. It is not recommended for us to store our long-term holdings to an exchange (like what Etherdelta and a Japan-based crypto exchange was hacked a long while ago).
Again, it depends on you as long you are responsible for your risks.
However, if you want to do day trading of your crypto assets, you should transfer them from your wallet to the exchange platform. It is not recommended for us to store our long-term holdings to an exchange (like what Etherdelta and a Japan-based crypto exchange was hacked a long while ago).
Again, it depends on you as long you are responsible for your risks.
Hardware wallet or personal wallet still better than exchange wallet. Many exchanges hacked include Binance and 1st Exchange from Korea and Japan. Hold your private key also have some risk about trojan,internet hacked, etc. Two things have its risk so choose what you think better.
Most of the exchanges have been having some sorts of problems and they can be hacked. Despite that you can keep some for trading but not a large amount.
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
Its not advisable to keep your bitcoin/altcoin in some exchange site because theres a tendency that the exchange site will close anytime always practise the in and out procedure if you are doing trading.
Its better to hold your cryptocurrency in secured wallet like ledger nano, mew for ethereum and eth based etc.
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
If you have 100 different coins, then of course you will not be able to create wallets for everyone. More accurately you can, but it will be a very time-consuming task. Therefore, in this case it will be more convenient to store them on the exchange. But if you have several coins, it is better to store them on a purse as this is the safest. 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
For me if you handle a large amount of coins that already in exchange and have a big amount of value. I will keep it. But if you have different coins in your wallet and every single coin have a big amount I would put some to other wallet to make sure it will not lost everything if just incase there is something bad to happen.
Depending on what you are looking for, you would either place your coins on exchange or local wallet. For example, if you are a day trader then you will keep some coins on exchanges and trade however if you do not trade often then it is always recommended to have the coins in your local wallet. Also do not keep lot of coins on exchanges because anything can happen anytime. You can get up next day and see that exchange is no longer active. See what happened with coinsmarkets, one fine day they took hit on their servers due to high traffic generated by ECA buy orders. It's been more than 2 months now and the exchange is still down except for the fact that only ECA coin holders can withdraw their coins from here. Hopefully others coins will also start functioning soon. This is one such example where people lost quite a lot of money because they exchange just went down and is still being recovered.
On a personal note I like to control my coins hence I always keep then on local/hardware wallet.
Thanks and have a nice day.
On a personal note I like to control my coins hence I always keep then on local/hardware wallet.
Thanks and have a nice day.
It depends on the coins. And its currency exchange whether it is high or low so if it is high then its good for exchange and if it is low its good for wallet
It's better to keep your coin on a wallet. Cause if you don't wanna keep it why using a wallet? You can use exchange if just for transaction. So in the end it all depends on you, to choose what is better with what you wanna do.
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
to keep the assets that I have for the long term I prefer to put in the wallet online like blockchain.info or Myetherwallet because if it is placed in the market seems less secure because it could have the market collapsed at any time and bring the assets you have there.
better stored in the wallet in the past just because it is more secure and of course can instead be used for savings and investments, who sell us coins that year could have the higher price then it could be sold at any time if the price began to tall.
It depends seriously on the user. As already noted by some other people on the thread, I think the mission of the owner is important. I believe if such user goes for trading, keeping on trustworthy and proven exchanges is the best for easy and smooth sailing trading. while if nothing like trading is involved, I think getting your coins in a reliable wallet is the wisest thing to do. Note, in keeping those coins, one has to sure of its security authenticity of any wallet to be used, hence hackers and scammers will eventually feast on those hard earned coins.
Not recommended to store yoru all coin or bitcoin in exchanges.
because you can't control your coin there. It is better to store your coin in the wallet
because you can't control your coin there. It is better to store your coin in the wallet
If investments are short-term investments you can keep them in stock market accounts. It would be more costly to stop in the wallet than to trade. you must pay commissions and transfer fees.
Long-term investment should be in your wallet, safer than exchanges
Long-term investment should be in your wallet, safer than exchanges
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
Greetings, I can tell you one thing on holding tokens on exchanges, then only on large ones and where it is necessary to undergo identity verification, but I would not recommend keeping tokens on purses projects better to purchase a cold wallet and keep all the funds on it. the best option
Okay, now I'll ask you back. Long Term or Short Term ?
If you keep a token / coin only for the short term, it does not matter you keep it in the exchanger or wallet.
But, if you keep the coins / tokens for the long term, you better keep them in the wallet, compared to the third party like the Exchanger, because we do not know how long an exchanger will operate, the exchanger can at any time close without notice, or exchangers hit hack will jeopardize your money, so my suggestion if you want to keep token / coin for long term save in wallet
If you keep a token / coin only for the short term, it does not matter you keep it in the exchanger or wallet.
But, if you keep the coins / tokens for the long term, you better keep them in the wallet, compared to the third party like the Exchanger, because we do not know how long an exchanger will operate, the exchanger can at any time close without notice, or exchangers hit hack will jeopardize your money, so my suggestion if you want to keep token / coin for long term save in wallet
In my case I am storing btc in my wallet because it has feature where i can convert my fiat money into btc so whenever i want to buy btc or btc to fiat. its already in the wallet and also it has certain service where i can buy prepaid load and paying bills. So for now this wallet is useful to me. may I could use exchanger if i wanted to buy altcoins or vice versa. btw, refer to this wallet if you want https://coins.ph/1zodi2
Keep most of your coins in a wallet, don't keep them on exchanger. It's not safe to keep them in exchanger, you will never know when the exchanger going to be scam or being hacked.
My opinion is that if you only trade, then you basically do not need a purse, but if you just invest some money, then you do not need a stock exchange, but you need a purse. In general, I do not see any problems in having a stock exchange and a purse.
well, it's alright to have a purse and exchange account but I would like to admit that there is one more option: you can use aggregator like coinmonkey.io where you can execute exchanges from your wallet directly using rates from major exchanges. so, I do exchange from jaxx wallet and receive back to jaxx if I don't like shapeshift rate.
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