Exchange or Wallet? - page 128. | Bitcointalksearch.org

hheight

full member

Activity: 392

Merit: 102

Keep all coins online is dangerous. Even the most trusted exchanges can be hacked or closed. If you are an active trader, keep the needed amount at the exchange, but all "inactive" coins should be at wallet.

sieemma

sr. member

Activity: 980

Merit: 253

Quote from: cryptosifu on February 12, 2018, 02:50:38 PM

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.

Nivelir

full member

Activity: 588

Merit: 100

The question is really very important, because a lot of people, for some reason prefer to use exchange wallets, but I use both of them, because there are all kinds of situations, so I use both options

jorenpo

sr. member

Activity: 630

Merit: 250

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

Keeping your coins is very risky. What if the exchange you store it got hacked? Your coin will be frozen there.
Pros of it is you can exchange your coins very past without waiting for your deposit to come.

iamMhew

full member

Activity: 688

Merit: 101

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

keeping tokens/coins in exchange are too risky, but if you use the exchange just to sell your token in just maximum of 1 month, it is not because keeping them for a long term can cause of loses or in some case (knock on wood) sites can be hacked. so i suggest you to keep your tokens/coins on its designated wallets for more security purposes.

HBKMusiK

full member

Activity: 693

Merit: 120

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

I would not ever keep my funds on exchange even if I need to sell it fast, you can loose it all from the exchange, I keep everything I have in my wallet with my private keys, if you are afraid of loosing funds you can buy yourself a Trezor or Legder Nano S(best in my opinion).

kuronokishi10

full member

Activity: 210

Merit: 100

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

according to me it is safer and a way better option to keep your coins in wallets rather than exchanges.
many people have lost a lot when exchanges suddenly closed or had withdrawal blocked,and there are way more chances of hacking.
while wallets are safer and till date no one has faced such problems from any legit wallet.

serkhio

member

Activity: 154

Merit: 10

Depends on u, buddy. Long term hold suits the wallet, short term trade prefers the exchange.
In fact, sometimes the exchange has some campaign if u has deposit in it.

jyotianand01

sr. member

Activity: 980

Merit: 250

Exchanges are mostly used for trading because all coins are not listed on all exchanges and if your horizon is short term then you can hold your coins in any online exchange which have your coins but if your horizon of investment is for 2 to 3 years then you can hold your coins in online or offline wallet as per your wish. Trazor is best wallet to hold coins for a bigger term as it is not accessible without connecting it to a device.

ThePromise

full member

Activity: 396

Merit: 100

Chainjoes.com

Quote from: De_nis on February 19, 2018, 09:34:57 AM

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!

same thought, i dont actually let my money sleep on exchanger, because there are some possibilities that it can be hacked, so i only use exchanges if i want to trade or sell altcoins, but after that, i will withdraw it already.

grek_al

member

Activity: 110

Merit: 10

Holding coins / tokens offline is always safer than storing on an exchange as long as you take the correct measures (ie don’t backup your private keys on the cloud). Binance is probably the best / safest exchange for now, but I still prefer to hold everything offline.

redyaprimasmara

member

Activity: 252

Merit: 10

I think if you want to daily trading,
better you use exchanger to keep you coins
but if you wanna hold your coins for long term, wallet is the better place for your coins

BitindaHouse

member

Activity: 336

Merit: 10

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

I often wrote that I'm paranoid, so it's better to keep in a purse where there is no Internet access and on several media

ujinice

member

Activity: 574

Merit: 15

Crypto currency exchanges is a very unreliable institution, all the keys to your crypto currency are in the hands of its owners. It is more reliable to store your keys in encrypted form on paper.

De_nis

full member

Activity: 560

Merit: 109

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!

RedArcher

newbie

Activity: 101

Merit: 0

absolutely the best way is to keep coins at wallets. as for me I use Jaxx.io wallet, it is no located on some server but you keep its code on your side, so its safety depends on you.
and when it comes to trading - I use small exchangers - aggregators like coinmonkey.io in pair with jaxx wallet.
I submit an exchange there, mention my sending and receiving wallet addresses and that's it!
and I can choose best exchange rate from several exchanges.

btcefeyigit39

newbie

Activity: 196

Merit: 0

two of the most needed things in the digital money world are exchange and wallet. they are very much needed. reliable wallet and few commissions are important.

snowbubble

newbie

Activity: 140

Merit: 0

I think all depends on summ of money, if you have small amounts then its better to be on exchange and not waste fees on withdrawals, if you have a lot of money then keep on wallet, because its more safe.

Ramtapsbtc

member

Activity: 364

Merit: 10

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 is always advisable for me to keep your coins on wallets outside the exchanges. Spread your cryptos to many wallet as you so that if something happen to one wallet, you would not lost all. The disadvantage of keeping your wallet inside exchange is when that particular exchange shut down bring along with it your precious coins.

alieknov

newbie

Activity: 154

Merit: 0

It's better to have your own wallet since no one will know your account if you use a wallet.
This is also where you'll store all your coins you earned from airdrops or bounties.
Its a big help having your own wallet. It is also what you'll input when joining airdrop or bounties because this is where they will put your tokens.

Topic: Exchange or Wallet? - page 128. (Read 8740 times)