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Topic: Exchange or Wallet? - page 119. (Read 8740 times)

legendary
Activity: 2604
Merit: 1251
February 27, 2018, 02:22:12 PM
Iam sugested well dont use exchange for keep save your fund Smiley Sometime if we have a bad luck the exchange got DDOS Attack or other think like this years Bitgrail exchange lose 17 millions nano. now they are stop the exchange
full member
Activity: 588
Merit: 100
February 27, 2018, 02:21:11 PM
I think that it is necessary and necessary to keep all your funds in different purses, but of course if you have a lot of money. If you have $ 1000, it's probably worth keeping on your wallet, but it's not worth it to do on the stock exchange
full member
Activity: 406
Merit: 100
February 27, 2018, 02:19:54 PM
Don't keep your funds on exchanges , especially on small ones !
I have some coins in my coinsmarkets.com wallet , and i still can't access them since 2 months ago , when their " server problems" started.
I believe that decentralized exchanges are safe , because you have access to your private keys, but unfortunately the volume is small on them at the moment.
member
Activity: 392
Merit: 12
The Fourth Generation of Blockchain in DeFi
February 27, 2018, 02:02:09 PM
Never ever keep your money on exchanges!  This is how people lose control of their money!  An exchange can be hacked or scammed. You will lose everything then.  Keep your money on the wallet.
member
Activity: 322
Merit: 10
February 27, 2018, 06:49:43 AM
exchange or wallet..that wallet first because all of my coins are in the wallet coming in when I have a site that's covered because when you do not have a wallet you do not have your coins.any of my coin with a prize placed in the exchange there I have to replace all of my coins with a pricier. So I do not have the option of two of them all to import me
full member
Activity: 406
Merit: 100
▰▰▰ MODULE ▰▰
February 27, 2018, 06:48:57 AM
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
Some other says that putting your coins in exchange trading site's  is not fully recomended because,if theres something happen of  change rule to the trading site's like to frezzing  or stopping for a moment in there operation transaction and your coins is already there,maybe you cannot withdraw or fall out your crypto coins,so the better things of security is buying a ledger nano S  or trezor,because this is the best suit of crypto unter to secure all there  bitcoin asset.
member
Activity: 231
Merit: 10
February 27, 2018, 06:42:21 AM
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
It is still best to make your own wallet that to keep it on Exchange. If you keep it on exchange and there is a hack in their system, your altcoin will disappear in a snap. If you have your own wallet, you are in control over your coins and no one can access it except you.
newbie
Activity: 126
Merit: 0
February 27, 2018, 06:27:26 AM
Good to have money on both, if you are a long term holder that does not mind the volatility in the market I would suggest putting your crypto in a hardware wallet like trezor or ledger. It is secured and will give you peace of mind against hacks. Just be careful in the pages you are browsing, backup the phrase and never take pictures of it and never give your private keys to anyone.
full member
Activity: 350
Merit: 102
February 27, 2018, 06:22:12 AM

Of course, it is better to use special wallets for storage than stock exchanges. A good wallet is Jaxx, it supports a lot of cryptocurrency and is very convenient to use.
newbie
Activity: 9
Merit: 0
February 27, 2018, 06:16:35 AM
It really depends on what your intentions are. If you want to become a day trader, then it's useful to keep some of your coins in the exchanges (only the secure ones, so be very careful!!!), otherwise you're better keep this things in your wallet.
full member
Activity: 602
Merit: 100
February 27, 2018, 06:16:11 AM
Unless if you do some daily trading, DO NOT HOLD your coins on Exchanges but send them to your wallet... it's one of basic rules...
full member
Activity: 616
Merit: 100
https://exip.live/
February 27, 2018, 06:11:08 AM
This is according to your purpose bought that coin, if you would like hold by long term will be much better keep your coin in personal wallet that you own the private key because this way will be more safe than keep in exchange. But if you just want to buy and sell in short term will better keep in exchange so will be efisien and dont forget to use all security feature.
hero member
Activity: 986
Merit: 516
February 27, 2018, 05:42:16 AM
you use exchange for day trading. wallet is used most of the time for hodling.
correct.you said well. Its need to do you (OP) forget about to exchange wallet for holding your coin.its too much risky. personally I dont do it.
sometimes you may need urgent $  But the wallet cant provide you quick withdraw because sometimes they hav problem about the wallet.so they stop fund withdraw.so try to use personal wallet.
member
Activity: 179
Merit: 11
February 26, 2018, 03:27:02 PM
Holding coins / tokens offline is always safer than storing on an exchange as long as you take the correct measures.
member
Activity: 182
Merit: 22
February 26, 2018, 03:26:53 PM
When you create a wallet you'll be given a private key (talking about BTC and ETH here). If you lose your wallet, forget it, or your hard drive crashes.

If you have this stored safely (noone else can ever see this). Then you can recover the funds. Sometimes the wallet will get you to create a seed of 12 random words. If you write these down (again very securely) and lose your app, program or PC. You can recover the wallet with the seed or private key or wallet file.

Basically, backup the wallet and seed or private key away from other people and in another location.
member
Activity: 490
Merit: 10
Bitfresh - iGaming with 90s UI
February 26, 2018, 03:24:48 PM
If the conversation is about where it is best to store your money, then it's best to do it on remote or cold devices. I think that such an opportunity will be the safest. Because I believe that today there are no 100% secure systems.
newbie
Activity: 170
Merit: 0
February 26, 2018, 02:48:37 PM
You should always keep your cryptocurrencies in your wallet.  Only keep coins on exchanges for trading purposes.  With the recent hacks of Coincheck and Bitgrail, it should be a message that exchanges are not safe for storing coins. 
I agree with you see up and down the market price makes us have to be good at saving coins.
jr. member
Activity: 285
Merit: 3
HEROIC.com | The Future of AI-Powered Cybersecurit
February 26, 2018, 02:39:10 PM
I use a cold wallet for long-term storage of crypto (more than 3 month), but my other balances are on exchanges (for daily trading, short-term investing). Yes, I know the risks associated with exchanges, but its very handy way.
sr. member
Activity: 1491
Merit: 320
🐪
February 26, 2018, 02:17:00 PM
I dont prefer wallet, I will choose It's simply because using wallet, I cannot get my token right away. Granted, in some cases, exchanges will eventually support these ICO tokens and return the purchased amount to the customer. However, one has to keep in mind they have no legal obligation to do so by any means. If you send money to a cryptocurrency ICO address from a wallet, you do not fully control as the sole owner, it is your own fault. All ICOs clearly warn users not to send funds from an exchange to avoid any complications.

Yes for ICO's is the best to use your own wallet that you control. ICO should warn you about this. I use exchange only to trade and hodl. I know exchange is not good for hodling, but it is easiest solution for me.
newbie
Activity: 98
Merit: 0
February 26, 2018, 02:13:43 PM
I dont prefer wallet, I will choose It's simply because using wallet, I cannot get my token right away. Granted, in some cases, exchanges will eventually support these ICO tokens and return the purchased amount to the customer. However, one has to keep in mind they have no legal obligation to do so by any means. If you send money to a cryptocurrency ICO address from a wallet, you do not fully control as the sole owner, it is your own fault. All ICOs clearly warn users not to send funds from an exchange to avoid any complications.
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