I think its not that bad to hold in exchange wallets if you set nice password and 2fa. You just need to not using suspicious unknown exchanges and everything will be okay, holding in personal wallets can be quite harder than this.
As long as you are not trading, it is very bad and it is not safe, no matter how reputable or trustworthy the exchange may look. As long as you have your money on exchanges, you have no control over your funds and anything that happens to the exchange ends up happening to your funds which you will never be able to recover, and the same applies to centralized exchanges. The best thing is to put your funds in wallets where you have the private keys. 
Topic: Exchange or Wallet? - page 127. (Read 8740 times)
At first,I like storing my coins in my wallet,because it's safer!
Later,I realize I need more trades to make profits,so I transfer
my coins to the exchange.
And I know when my coins in the exchanges,I could be more
focusing on the trade.
In fact,the coins in the exchange are safer than wallets!
The customers have a more probabilities to lose the private key with
using wallets,that's a dangerous action,you will lose your coins entirely!
Later,I realize I need more trades to make profits,so I transfer
my coins to the exchange.
And I know when my coins in the exchanges,I could be more
focusing on the trade.
In fact,the coins in the exchange are safer than wallets!
The customers have a more probabilities to lose the private key with
using wallets,that's a dangerous action,you will lose your coins entirely!
It's better to keep your wallet hidden in your coins because it's just a safe way for your coins compared to exchanges, there are also dangers to hackers. So in your long terms you'll prefer the cold wallets for safety your coins.
it seems to me that if you are investing for the long term you want to use the wallet type, the Ledger nano , but if it's constantly trading course exchange
It is depends on your wish what you want to do, if you want trading frequently then you can keep yours coin/tokens on exchanges according to your requirement of time. It is always better keep your coin in offline or online wallet due to security reason.
wallet would be great for storage options because wallet has our own control over the wallet. if our exchanger never knows if the exchanger can keep our coin trust, I suggest you use an exchanger when it will buy or sell and to save you using wallet.
It all depends on your choice and what you intend to do if you want to go into trading the exchange site is the place your coin should be and if you want to hold then you can hold your coin in a wallet of your choice. Different options for different purposes that is how it is.
It depends for me I want wallet to store the coins I'm getting. But if your for trade you can go for exchange.
I would choose wallet over exchange because it's easier to manage the money using wallet. It is also more convenient transfering money or transacting with others using the wallet.
Oh, it is quite difficult question. On the one hand, if you need to store some unknown ERC20 tokens, you can use MyEtherWallet or any other online wallets. But it would be better if you can buy hardware wallet and store your money there.
The same can be told about coins from top-30 on coinmarketcap. It would be better to store them in Exodus or other wallets. Exchange platforms can be hacked and you can lose all your assets. Also, if you use centralized platforms, you have got extra risk factors, like government regulation or dishonest solutions from project's team.
The same can be told about coins from top-30 on coinmarketcap. It would be better to store them in Exodus or other wallets. Exchange platforms can be hacked and you can lose all your assets. Also, if you use centralized platforms, you have got extra risk factors, like government regulation or dishonest solutions from project's team.
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. thanks.
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. thanks.
Im prefer to save it in your own wallet and save the backup code. and hard to get it back agan and will do a long process to solve that thing ( alot of them not success to solve this ). for my own i use of exchange just to exchange coin. after that new entry into my own wallet.
If you do not have the private keys to the wallet where you keep your coins/tokens, then those coins/tokens are not yours. If you want to store for long term, always use persona wallet.
I agree with you. Exchange - this is not a place to store coins for a long time. This place is only for trade. If you withdraw money to your wallet, it will reduce the risk of losing money.
If you do not have the private keys to the wallet where you keep your coins/tokens, then those coins/tokens are not yours. If you want to store for long term, always use persona wallet.
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 would say a bit of both. Organize your coins and tokens into many different wallets and exchanges with amounts you are willing to lose if things get compromised. By doing that, even if some wallet/exchange gets hacked, your loses will be minimal. Sure, it takes a lot of work to get everything up and running, but better safe than sorry and most importantly, you will be flexible. Imagine a coin that hits all time high and stays there only for a couple of hours. If you would have a coin like that in your wallet and the network is clogged, you wouldn't have time to send it to you exchange. By having different coins on exchanges you can avoid that risk. Search for top wallets/exchanges for different coins and allocate them there. At least, this is what I would do and I'm not saying my advice is better then anyone else's. At the end it's up to you.
Its better to have wallets for each coin and have these wallets secured with 2FA or any other secured authendication option. As the coins are earned or bought so hard, its good to keep them in our own wallets. At times the sites may hacked or closed (at times). Even wallets can be hacked, but its more convenient and secured to have out own wallets for the coins we earn or buy. Exchange can be only used to either purchase or exchange the coins.
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 will not exchange your altcoin with local money or trade it, you should keep it in your wallet to avoid something you do not want. but if you are a trader, it is quicker and simpler to keep it in exchange.
If you are not day trading with the coins, then there is no point leaving them on the exchange, even if you are day trading, you still need to get a wallet you have control of the private key so that you can save some coins there from time to time.
If you are not day trading your best bet is a wallet.
If you are not day trading your best bet is a wallet.
Both are advantage and disadvantages to keep the coins holding. Suppose you hold coins on the online exchange and that was hacked by the hacker then no body have any solution to recover the investment. if you keep your coins in offline wallet and due to any reason you lost your wallet or its data and can not recover from any where then this is also loss. In this case online wallet is best but in that case hacked by hacker then offline wallet is best. Now your choice is depend on you.
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.
You are very right. I usually leave coins that I use for trading on exchanges. It is very dangerous to leave coins on exchange when you don't trade daily. That is the best way to avoid something bad that may occur with the exchanger. Send our coins to an exchanger only when we intend to trade it and don't leave our coins on exchanger for a long period of time.
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