Exchange or Wallet? - page 123. | Bitcointalksearch.org

h55

member

Activity: 210

Merit: 11

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

of course, wallet is better than exchange for long-term holding, but if you want to trade you must hold your coins in Exchanges. you must determine your gold, holding or trading?

Babyfaceless

full member

Activity: 322

Merit: 101

For long term holdings I think personal wallet would be the best option. Exchanges are always the target of hackers due to the large volumes of cryptocurrencies flowing in them. Its ok to hold crypto in exchanges only for short term trading purpose

Anne8

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Merit: 10

Quote from: dasha_buka on February 12, 2018, 03:06:00 PM

The safest option is to keep all your coins on wallets , so much safer . And in case if the market will close the input and output of coins at the pump , it quickly can be translated into needed exchange

Transfer it to exchanger can not be done by instantly mate and need several time depending on exchange itself.
Store in wallet is very safe like you said but this is only for long term holding and not suitable with short term trade.

Ryan Tirta Permana

member

Activity: 136

Merit: 11

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

With MEW you can save a coin that is using ERC20, but I would recommend the exchange if you want to trade then if you want to hold long term I suggest a wallet because your coin in your hand I mean like offline wallet or wallet hardware.

cryptolottocc

copper member

Activity: 42

Merit: 0

Exchange is the most unsafe option, but if you haven't bought bitcoin when it was for $2 then I don't see a real need in HODL strategy. The market is still very vulnerable to news, manipulations and hacker attacks. You shoud always keep your hand on a pulse. 1.5 week ago ETC was for $14, now it is $34. It's a big investment opportunity there in such cases and they are happening very often. If you are holding your coins on open wallets that's a big failure and losing of potential earnings. However, if you are not very into exhange tradings then of course you should try some cold wallets. I reccomend TREZOR and LEDGER. They both are off the competiotion and are second to none.

emmmmm

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Activity: 210

Merit: 10

The Experience Layer of the Decentralized Internet

I think if you are a newbie and your digital currency is not particularly rich, then I suggest you put it on the exchange.
If your digital currency has a lot of assets, I suggest you buy a hardware wallet. ,

jackky

member

Activity: 308

Merit: 10

Keeping it on the exchange platform is the best way since you can sell it whenever you do not need to send back the exchange. Using the exchange platform you can convert it to whatever Altcoin you want. Using the exchange platform, you need to turn on many layers of security, so it is also a way to protect your Altcoin.

stigmacryptonight

member

Activity: 574

Merit: 13

If I myself save in some exchange, then in hold within a certain period. But there are some coins that are kept in the wallet. just a savings account, especially a POS wallet

Mkmanik

hero member

Activity: 986

Merit: 516

Dont try to store your coin into exchange wallet.Its not safe (my personal opinion).for doing trade you can use exchange site wallet.but for long time hold you must need to hold your coin in your private wallet(those wallet that has private key into your pocket)

Hacker every time trying to hack our money,so they are very active.we need to be serious for our asset.we need to keep them into a safe place and the most safe place is the wallet that has private key near to you.so every time try to use personal wallet (desktop,official wallet)

Protected101

full member

Activity: 210

Merit: 117

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

For me its better to keep your coins in wallet instead of exchange must be hacked any moment.In wallet you can have a private keys to make it secured and get increased by holding it.

Jamesdila1

member

Activity: 686

Merit: 10

if you dont hold private keys then those coins are not yours. so if the exchange got hacked or they scam then you will lost your funds. so always try to use a wallet for each coin or token.

LitleCryptic

member

Activity: 336

Merit: 10

As it seems to me to work with amounts up to $ 10,000, you can use exchanges, but in this case I distributed the amount at least between three exchanges. After that, after increasing the deposit of the coin, which would deduce a lstrong coin to the wallet. Or, initially, to build a conservative portfolio and put everything on a wallet.

pugi2

member

Activity: 286

Merit: 31

Quote from: Meepospammer on February 12, 2018, 02:07:06 PM

It is better to store your coins in a wallet. Once a trading platform is hacked say goodbye to your beloved coins. Though having your coins in an exchange is quite advantageous too, let's say the price of the coin suddenly went up, you can easily trade it. Having it in your wallet, it will need quite some time to be confirmed and during this time price might have already dropped.
If you're in with holding the coin for a long time, store it in a wallet, and just trade it whenever you're ready or you really need to.

Store in wallet and exchange is depending on how we will use the coin.
From your point, it depend on long or short term trading. So i think thats right so please use the platform depending on your need.

Space32

member

Activity: 144

Merit: 12

Melania.io Audit/Creation, Whitepapper, Specs etc.

It is better to keep funds in a cold wallet, or on an offline wallet, but only buy them from the manufacturer or an authorized representative, so as not to buy an offline wallet with a virus, etc.
In addition, the funds can be stored on the stock exchange for rapid trade in the case if the rates have changed dramatically in any direction (up or down). But this is more suitable for those who invest for a short term and focuses on courses and trading.
In addition, the advantage of storing funds on exchanges is the getting of new coins after the hardforks. But there a bad things of keeping the funds on the stock exchange too, for example, the possibility of hacking the exchange, the scam from the side of the exchange itself (not actual for the largest exchanges), long pending with deposits and withdrawals due to server loads or system failures.
And the best wallet, in our opinion, is the brain wallet. Use it wisely and then you will be fine, you just need constant updates of this wallet to the latest actual versions.

Crypto_Day_day

newbie

Activity: 27

Merit: 0

Yo.

never leave you coin on the exchange.

i have friends lost a LOT of money over hacks.

you should always keep your coins in wallet and your keys safe.

Ido_Liberdy

newbie

Activity: 42

Merit: 0

it is always best to keep them in a wallet and better than that a cold wallet which is not stored on you PC.

but it depends on your purpose for holding coins. i would suggest not to keep any coins on the exchange due to problems might occur as seen in the past.
so if you are day trading just pull them out at the end of the day. you might pay a bit more fees but your coins will be much safer.

kiky03

full member

Activity: 305

Merit: 100

Why not save coin in exchange,for me it's no more take fee so it much better than just hold in your wallet

lighterkek

newbie

Activity: 182

Merit: 0

If you want long-term investments, I can say that wallets are safer, but we use both. We prefer to exchange in order to shape the investments in the day

Pedro18

member

Activity: 224

Merit: 11

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

If you are active trader, you can store your coins in exchange, because you are buying and selling in short period of time. If you are investing for long term, much better to hold it in your personal wallet.

Babayan

member

Activity: 546

Merit: 13

Quote from: Vaflia on February 25, 2018, 05:11:14 AM

I believe that if you invest in a long time, it is necessary to create a wallet for each of your coins. It is difficult, but so your money will be safe, because the exchanges have a lot of problems and they are not suitable for long-term storage.

Agree with you. You can store your money on exchange only if you are a trader. But for long-term investors it will be more safely to store their money on cold wallets.

Topic: Exchange or Wallet? - page 123. (Read 8740 times)