Topic: Exchange or Wallet? - page 120. (Read 8740 times)
you use exchange for day trading. wallet is used most of the time for hodling.
I see some of yall keep ur coins on exchange's wallets cos of risk to be "infected" by viruses from unknown wallets 
When you have little amount of money you can leave it on exchange to trade it, or waiting for dips so you can buy in later. But when you have important funds in stake you HAVE to keep them safe! Wallet it's essential, mandatory! Always store your valuable holding in wallet, and be safe.
Ask yourself why you need coins on the stock exchange?! Trade is not a problem, but if you buy on the stock exchange and want to store coins 2-3-4-5 years, then of course choose a wallet and it is better if it is a cold wallet
They are just for different purposes. Wallet - storing, and exchange - trading.
Wallet pros: - higher security - no third party control - more privacy
Wallet cons: - costs money (hardware) - vulnerable to malware (desktop)
Wallet reviews:
Exchange pros: - trading options - fiat support - multiple crypto
Exchange cons: - you do not control your money - vulnerable to hacks - charge fees
Exchange reviews (beginner-friendly): http://bitority.com/review-of-cexio/ https://www.forexbrokers.com/reviews/coinbase http://www.bitcointradingsites.net/broker/cryptopia/
Sure these are only a few exchanges and wallets you can choose from, but at least you can see how it works and what are the main features.
Wallet pros: - higher security - no third party control - more privacy
Wallet cons: - costs money (hardware) - vulnerable to malware (desktop)
Wallet reviews:
- hardware
- desktop
Exchange pros: - trading options - fiat support - multiple crypto
Exchange cons: - you do not control your money - vulnerable to hacks - charge fees
Exchange reviews (beginner-friendly): http://bitority.com/review-of-cexio/ https://www.forexbrokers.com/reviews/coinbase http://www.bitcointradingsites.net/broker/cryptopia/
Sure these are only a few exchanges and wallets you can choose from, but at least you can see how it works and what are the main features.
All have risks to keep, the best is ledger, mew is very nice wallet if you don't catch fishing site, also exchange is good if don't have problems, better hold and don't open throw private key
Exchanges can be hacked, so they can't be trusted. All of these exchanges have been having some sorts of problems. So, wallet would be a safe option.
100% wallet. You have the private key and you are the only one that sends money out. With exchanges, you are kinda voulnerable.
Yup, you are correct. I am trying to avoid exchanges at all since that time they started to get hacked or banned. I was looking for some sort of api for conducting exchanges if needed. I came across coinmonkey.io- that’s exchanger which takes rates from major exchanges and you can proceed transaction with any exchange, so they take risks of exhange to be banned or hacked.
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
Of course, choose coin purses, this is a safe option for storage. The exchange can be closed at any time, this has already happened.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 keep a small amount on the stock exchange for trading.
It can be explained in two scenario.
1.If wish to buy from exchange and gonna day to day trading you can put your investment on exchange
2.If you wish to hold your investment waiting for higher return then you can put it into your wallet
I am doing day to day trading through polionex,for last two years and everything is going smooth,i have put multiple keys for securing my BTC,also i have put some portion of my trading in my etherum wallet offline.
1.If wish to buy from exchange and gonna day to day trading you can put your investment on exchange
2.If you wish to hold your investment waiting for higher return then you can put it into your wallet
I am doing day to day trading through polionex,for last two years and everything is going smooth,i have put multiple keys for securing my BTC,also i have put some portion of my trading in my etherum wallet offline.
I would not recommend keeping you coins/token in an Exchange. There have been numerous cases when people simply lost the money because the exchange was hacked or the exchange closed.
I strongly recommend to store your coins in a wallet where you have full access, only you!
Keeping coins in an exchange sites was not a good idea, because anytime that exchange sites decided to closed it up. Your funds will not recovered, while in the digital wallet they were giving notice before they close so it was safe for me. But there's no wrong to keep your savings in both but make sure that you are always updated regarding with the latest news of both, to easily you prepared in any situation happen. I strongly recommend to store your coins in a wallet where you have full access, only you!
100% wallet. You have the private key and you are the only one that sends money out. With exchanges, you are kinda voulnerable.
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
I stick to the wallet option for each coin. Since there was already an unpleasant case with Bitrix when they closed many accounts. I was one of them. I couldn't restore my account for three months.
Don't ever hold much tokens on exchanges, we don't have decentralized exchanges now, so we can't trust them.
I would not recommend keeping you coins/token in an Exchange. There have been numerous cases when people simply lost the money because the exchange was hacked or the exchange closed.
I strongly recommend to store your coins in a wallet where you have full access, only you!
I strongly recommend to store your coins in a wallet where you have full access, only you!
some of my coins put on the exchange and some of the others I put in the wallet. my reason is because the exchange sometimes closes. and in the wallet sometimes there are hackers who want to steal my coins. when the exchange is closed maih there is the rest of the coin in the wallet and when the coin is missing the wallet there is still a coin on the exchange. it's my strategy to keep the coins I have.
Buy yourself a hardware wallet and secure the seed safely. If you are a trader, spread a great aomunt of your tokens across various exchanges. If you are an ICO master, then its enough to use a hardware wallet and send tokens to exchanges when you are ready to dump (you dont even need to move tokens if using decentralized 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
If you plan to hold the token for a long long time you need to put it on a wallet, you don't need many wallets for each token as you can save it in just one if they are all erc20 or make a NEO if the token is on NEP5.
Why do you need to keep the token in a wallet and not in an exchanger? you might just leave your token for a year or longer and some exchange removes some token.
wallet of course
for eth and erc20 tokens, you can use mew as an offline wallet
it is very usefull and also very safe when you use an offline mew walllet with json file
in the history lots of exchange hack and scams
have a wallet offline or online, it is better than exchange
for eth and erc20 tokens, you can use mew as an offline wallet
it is very usefull and also very safe when you use an offline mew walllet with json file
in the history lots of exchange hack and scams
have a wallet offline or online, it is better than exchange
Better a purse for each, in this case, the security will be slightly higher. If they steal, at least not all at the same time.
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