Topic: Exchange or Wallet? - page 126. (Read 8740 times)
I think for the reason of security keeping your coin with exchange is better because they have a better and stronger hacking proof than wallet created by individuals. But each person has the right to chose where he or she prefer.
Wallet. With adequate security measures, I believe that wallets are more reliable than exchanges. Also, at all times you have control of your own tokens. Exchanges are more vulnerable, they are in the crosshairs of hackers, and there is always the risk of the exchange's bankruptcy. I only keep in the exchange the tokens with which I am going to trade in the short term.
If I am ACTIVELY trading a coin I will leave it on the exchange for short term only. If I plan on hodling it more than a week I will put it in a wallet. Remember, if you don't own the keys, you don't really own the coin.
Wallets are more secured than exchanges. I personally put my long hold coins in a hard wallet and put my trading fund in exchanges. try not to login your account in other people's device and never ever give your password to anyone. be careful also in phishing sites.
I always think of an exchange website as a tool for growing one's crypto portfolio, but to be safe and keep your coins away from any risk, then I do recommend to rely on the wallet.
But, what about a complete solution where the user can exchange cryptocurrencies and save his coins inside the same Wallet?!!
AMON project will be the next big thing for this matter. It will simplify the exchange, storage and spending of the major crypto-currencies, ALL from the inside of a single AI Wallet: https://amon.tech
But, what about a complete solution where the user can exchange cryptocurrencies and save his coins inside the same Wallet?!!
AMON project will be the next big thing for this matter. It will simplify the exchange, storage and spending of the major crypto-currencies, ALL from the inside of a single AI Wallet: https://amon.tech
Exchange is way too vulnerable to hacking plus your coin activities is pretty much exposed, wallets are safer bet as you can chose which one works for you and encrypt it in your own liking, always stay safe
Totally agree. I think that exchanges are more vulnerable, and above all, I haven't got my own tokens. If the exchange closes, it's hacked or it's in maintenance I will not have access to my coins.
Instead, I think that if I take the necessary precautions, my tokens are more secure in a wallet where I own the private keys. Of course, you have to be very careful and check the addresses you use well.
I try to use the exchange only when I'm going to trade with a currency, the necessary time.
I keep 70% in purses and another on stock exchanges.
At the stock exchanges, money for trading on the middle and short.
On the purses of money for HOLD
On exchanges, it is profitable to store money if you trade and do not want to overpay for commission.
At the stock exchanges, money for trading on the middle and short.
On the purses of money for HOLD
On exchanges, it is profitable to store money if you trade and do not want to overpay for commission.
Exchange is way too vulnerable to hacking plus your coin activities is pretty much exposed, wallets are safer bet as you can chose which one works for you and encrypt it in your own liking, always stay safe
From the point of view of what's more secure I think exchanges and open web wallets are the same. It's easy to hack both. Desktop wallets are little bit more secure but still not perfect. But where to keep crypto depends on your aims.
Personally, I use exchanges only for trading, after which I transfer my tokens to my wallet, it seems that it's safer than being stored on the exchange!
right, storaging coins at exchange is too risky.
try small aggregators - then you will cut your losses for transferring coins to exchange and back from there.
I use coinmonkey.io for this one.
I guess that’s the very right decision. Wallet - for saving coins, exchange for trading, but I also tried aggregator and it is not usual but still it it fast and nice.
Personally, I use exchanges only for trading, after which I transfer my tokens to my wallet, it seems that it's safer than being stored on the exchange!
right, storaging coins at exchange is too risky.
try small aggregators - then you will cut your losses for transferring coins to exchange and back from there.
I use coinmonkey.io for this one.
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.
If you do actively trade, then exchange is obviously the better option as otherwise the fees will just eat up all your profits. But for holding an offline wallet (or a hardware wallet) is the most sensible choice for security reasons.
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
The better choice would always be to keep it in the wallet simply because the one who has access to it are the ones who has private key or seed which would be you and anyone you would provide your private key. If you keep it in the exchange then anytime the exchange will shut down, they are taking your coins from you and you can't do anything because you don't have access to it. Yes it would be favorable if you keep it in the exchange so that if there are any trading opportunities then you can quickly trade but the disadvantage is that you don't have the private key so typically it is not your coin.
It depends what you want to do. If you want to trade then obviously an exchange. If you want to hold then wallet is best as you have total control over your assets. You have the keys to access wallet and you can send where you want.Some holders are having problems getting funds released from certain exchangers.
Its very true. Only store in exchange the amount of your asset that you will use for trading.
The other asset just store in wallet that you control the key. Its more safe in my opinion.
there is nothing difficult to choose a wallet or exchange.
now it all depends how your goals in the coin.
if you just want to save it in the wallet like MEW.yang most important you have to be careful with phishing sites there.
if I personally never keep a coin in exchanges unless I want to replace it with real money.
now it all depends how your goals in the coin.
if you just want to save it in the wallet like MEW.yang most important you have to be careful with phishing sites there.
if I personally never keep a coin in exchanges unless I want to replace it with real money.
Its depend on your uses, like you want Hold, so you try for wallet of your desired coin.
But if you want to Trade, then you should use exchange wallet.
But if you want to Trade, then you should use exchange wallet.
If you plan to keep your coins, then it is better to keep them on purses. On exchanges in this case, it is better not to store the tokens. The probability of losing them increases. And if you trade, then definitely you need to keep them on stock 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
I further recommend sharing it 50:50
because both are not 100% safe
if you want the most secure, is to store it in a hardware wallet like Trezor or Nano Ledger, then, your job is to keep the wallet out of reach of children or maybe your friends do not need to know
In the beginning I used exchanges but now I transfered to a personal wallet. Occasionally i use exchanges to purchase cryptos but then I transfer it to my wallet. If anything occures, I can transfer it to any of the exchanges cheaply and in a fast manner while if I hold all of my crypto on one exchange and there is high volume I have to wait for hours until the servers become operational again
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