You will need both of them, you need exchanger to sell or buy coins and you need wallet to save you coins. If you are daily trader I suggest that you need to have accounts in many exchanger, do not put your entire coins in one exchanger.
why do you need to do it, when one exchanger hacked and you lost of your coins then you still have on another exchanger.
Use your cold wallets for your coins saving.
Topic: Exchange or Wallet? - page 137. (Read 8740 times)
I keep all my coins in wallets, like desktop wallets or my ledger nano s. I hear too much about exchanges getting hacked and peoples money going missing! Just like what recently happened to bitgrail with all that Nano!
I prefer after the coin in trading in exchange next store in the wallet that has a sufficient level of security.
If you want to trade it now, it will be better if you send it to the exchanger but if you want to wait until the price will get high, just store it your wallet because you can access it anytime until you have access to your private key, it is the same at the exchanger also.
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 it for a long time, you should create a wallet and store it. If you regularly exchange, you should hold on the exchangeWhat 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
Thanks
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
Personally I only keep day trade tokens over exchange, my long term holds like BTC, ETH, NEO, etc are always kept safe in my ledger.
Your private key make you the real owner of your coins and they are always safe.
It depends on what did you do, trading or hold? If you are going to trade you must put on exchanged. Actually my coin is in the wallet it's because I planning to hold them for the long term and save for the future.
if you prefer to be safe, make sure you keep the asset at the locak exchanger with extra security
different from if you save using private key, surely you will be easy hacked only with private key only,
different from if you save using private key, surely you will be easy hacked only with private key only,
there are some benefits and risks among those two first when you put your funds on exchanges you can easily buy coins or tokens that is pumping and do buy and selling but the risks of it we dont know that exchanger will go disappear, on the wallet side your funds is secured but not all the time because there are so many phishing site right now to be cared of.
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 was wondering why you need to raise this questions. You status says your are already a Full Member so I assumed that you already know that keeping your coins in a trading platform is not safe because you don't have control of the private keys.
Also, there's a similar thread here:
https://bitcointalksearch.org/topic/where-is-it-safe-to-store-money-2004149
https://bitcointalksearch.org/topic/safe-to-keep-coins-on-exchanges-2019305
And you will see a lot of intelligent answers there. Let me quote one for you:
the cons of storing your funds in an exchange or online wallet:
If you're not (the only one) in controll of your private keys, you're not (the only one) in controll of your funds.
The only "upside" i can imagine by storing all your funds on an exchange is that it's convenient... So you can pick: convenience or security.
- the owners of the exchange have access to your private keys, so they can use your unspent outputs (steal). so you lose everything
- if the exchange gets hacked, you lose everything
- if the exchange goes bancrupt, you lose everything
- if you do something against the exchange's TOS, they can block you (you lose everything)
- you're only able to do the things that were pre-programmed by the exchange's administrators. There's a big chance you won't be able to sign messages with your address, double spend inputs, pick your own fees,...
If you're not (the only one) in controll of your private keys, you're not (the only one) in controll of your funds.
The only "upside" i can imagine by storing all your funds on an exchange is that it's convenient... So you can pick: convenience or security.
Most of the exchanges have account verification steps and I think it is quite secure. However, I think we should keep the money in our purse. It is not easily stolen or hacked. But it is extremely handy when you are dealing with multiple exchanges. Besides, just keep your password so access to your wallet is not possible without your permission.
If you are a long HODL person then you must store your crypto on a private wallet. however if your a short time trader buy low and sell high then place it on exchanges. if you have decent gains then withdraw it to your private wallet. dont store all of your crypto in one wallet for added security
I suggest to keep it in your private wallet, because it will be safer. recent market bitgrail has lost 16 million nano in their market, for that I advice keep in store in your own wallet because it is more secure.
Depends on you. If you want to keep your coins it's obviously good but check your coins market value. When your are satisfied then exchange.
You don't put big balance to an exchange or any web wallet that's good for that certain coin.
I would advice that buy your own hardware wallet where it supports those altcoins that you have and just transfer it when you are about to trade.
I would advice that buy your own hardware wallet where it supports those altcoins that you have and just transfer it when you are about to trade.
For me, a wallet (preferably offline or hardware) is for holding your cryptocurrency long term and an exchange is for quick transactions (you should not leave your money just sitting there as it is risky). I guess you could always keep a small amount in the exchange in case you see a great trading opportunity).
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
Its depends on you what is much better to you. But for keeping your coin in exchange is much greater than transfer it to wallet because you have chance to gain profit constantly when you are in exchange. 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 depends on the purpose of the coin mate, if you are in trading, just keep it in the exchanges because its a waste of time to transfer always the coin to your wallet from or to exchanges. When talking about ico or investment, just keep it in a mew wallet so that it will safe
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 want to be in possession of your coins use a wallet , if you use an exchange then you are relying in a third party who gives you no warranty in case of loss or hack 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
Never keep a coin in the exchange's site, its really bad idea. You better to put in under your own wallet where you have full control over your private keys. And if you want to move it to exchanges, move it only when you want to use the coins, like taking out a profit, buying other coins, etc. So if you have no use for the coins you better keep it in the wallets.
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