Exchange or Wallet? - page 125. | Bitcointalksearch.org

fearcoka

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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

All wallets are safe enough. The danger is that the user himself can allow him to steal his private key. Any mistake made by a person can lead to a loss of control over their funds. For these purposes, any hardware wallet is perfect. At the exchange is also not the worst option with 2fa. But do not forget that the exchange is not under your control, unlike wallets.

Holding your coin on exchange meaning you are putting your money to their wallet and they will help you control that amount. About the theory, you still have permission to control your coin, but "through" the exchange, you can change that amount. But use offline wallet or desktop wallet or could wallet, you don't need to depend on any exchange, all permissions owned by you.

bug.lady

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It is a nobrainer, mate. The only founds that should be kept online are the ones that you actively trade. Then, there is no alternative.

But any founds not actively traded should be kept in your wallet and if this is a long-term state, then preferably a hardware wallet or cold storage.

The pros or cons, you ask? Security is on stake, here. If you keep your founds online you risk them, and that's it.

tarlok01

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Wallet means to keep something in safe, for long term but if you feel that u will invest for the short time then its better to go with Exchange.

RedArcher

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Quote from: Boi qaaf on February 20, 2018, 07:05:45 AM

If you are active traders it's ok to put some of your coins in exchange, but if you are a long-term holder then the wallet is your best choice, but do not put the majority of your coin in exchange, we have seen a lot of complaints on exchange, being hacked or compromise, so play safe wallet is still preferable.

yes, wallets are much safer. although sometimes you might have a wish for making some trades, try to trade scapling. small aggregators are perfect for that. try to check coinmonkey.io, it's a sort of place with many exchange rates from many exchanges.

Ambrosius

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Keep it in your wallet, when you want to trade spent some in your exchange for trading purposes. It is safer when you keep in your wallet. No one will know that exchanger will be a scam or hacker is on your back. Make sure that you have a hardware wallet or offline wallet, its safer than online wallet.

vendy86

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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

Offline wallet more safety than Exchange wallet if you just wanna keep your coin for long term.
but if you wanna trade it daily,better you keep it on exchange wallet.

Diana_Lucia

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I personally use exchanges, and I do think having some coins on them for a short amount of time is relatively safe. I do not recommend leaving your coins on them for extended periods of time though, because you are exposing yourself to a greater risk by having them on the exchange over a prolonged period of time. Even a very short amount of time does still has risk.

A large exchange hack could be a crushing blow to the bull market that we have seen over the past few months. I really hope that we do not see anything like this happen. If we do though - I want everyone in the Steem community to be safe.

gurunanakji777

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Both has pros and cons but I am using both to keep my coins but my preference is exchange because sometime we are in hurry to sell the coins immediately because of sudden spike in price but if we have it on Exchange then its possible we can sell instantly on the other hand Wallet is most secured place for the coins to keep it but sometime we face problem in transferring from wallet to exchange it takes long than usual because of confirmations but it happens very rarely otherwise Wallet is the best and safe place to keep your coins always secured.

IgniHash

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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

It's depend on your behavior. If you like to trade, then you need to keep it on exchanges. But if you a holder with big amount, it's better to keep your coins in you wallet. Another safest way is using hardware wallet like trezor or nano ledger.

korchenkov

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I think it all depends on the level of risk that you are willing to accept, of course I'll write everything that is more reliable to store on a purse but to overtake coins there is also not an interesting occupation, so it is better to have both there and there

ICOPara

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You should use wallets to protect your coins or tokens from stole. Exchanges are so risky to hold your tokens there.
Also hardware wallets are more safer than online wallets. The devices are expensive but maybe you may lost more than device money with any hacker case.

rost1989

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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 keep your coins for long term - than you should store them on your wallet. Besides you need to keep your private keys in a very secret and safe place with YOUR ONLY access to it.
If you are trading than - Exchanges, cause it's impossible to deposit and withdraw every trade.

The safest place is your own wallets with private keys.

P.S. I am also thinking of buying hardwallet - seems it has very nice protection.

Alex09012004

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If you plan to trade actively, then of course it's better to keep your money on exchanges. If you plan to hodl, then wallet is a better choice. You have full control and it's more safe)

H0M

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How did this thread go that big ...

ad many have said it is obvious that the wallets are good to save in a long run while exchanges work when one wants to convert crypto into any currency. It looks to me that many wallet providers will expand their service and would make possible for their users to exchange cryptocurrencies for money, without leaving the wallets.

CryptoRama

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Wallet!

I recommend you to storage majority of your cryptovalues in your wallets, and you can have some on exchanges... also, if you want a wallet allmost all in one, Hardwallet Ledger nano s is for you, supports a lot of good currencyes and some bad, like ripple, and they will add many more!!

Cryptokingind

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It's depend on you but In my opinion if you invest for a long term then you go with wallet like Trazor wallet or any other hardware wallet but if you want to hold for shot term then you can go with any good exchange which have all the security features like 2FA.

samy_sa

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some exchanges, has problem with some country, because they are controlled by governors so, if you want to do not controlled by governors and protect your assets use special wallet for each coins. exchanges only good for changing and not holding of coins

Leonard2016

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Quote from: blant on February 12, 2018, 02:03:10 PM

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

The best practice is to keep only those funds on exchange that you want to day trade or hold on mid term. For other assets and long term investments is better to use cold wallets.

exchanges are not good wallets , if you can use them just as changer would be better than keep coins in them , just recently a japanese exchange got hacked and lost 400$ million .

white.raiden

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Exchange is good but Wallet is more safe as Exchange. wallet with private key for coins that you dedicate hold for long term investment. Remember not all of the wallets are fully secure too, Just try to consider how security measures already applied to those purses. I use exchanger and 2fa for trading.

imdada

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quarkchain.io

Storing in exchange is risky because it can be hacked unless you are a day trader, it's better to keep it on exchange to lessen the transaction fees, but still it is risky. If you are a long term hodler or investor, storing in wallet is a better option. Just take care your private key or password and make it highly secured.

Topic: Exchange or Wallet? - page 125. (Read 8740 times)