Topic: Exchange or Wallet? - page 139. (Read 8740 times)
My opinion is that if you only trade, then you basically do not need a purse, but if you just invest some money, then you do not need a stock exchange, but you need a purse. In general, I do not see any problems in having a stock exchange and a purse.
I believe in taking charge of my finances. Hence, if you are not trading your tokens or coins but you bought them for future investment, I will advice you put them on a wallet where you can control or own the private key . Exchanges are the ones with the private keys of all the coins wallet on their exchange. In case of Hack as we have seen on many exchanges, you are likely to loose your coins or tokens. They reason why those exchanges are targets for hackers is because they control huge volume of money in terms of coins and tokens. Hence, factor out yourself from the risk and take charge
From my point of view, there is a clear answer and leave the coins in the wallet. If you have them in your wallet and have your password there, you have them right now.
Even on exchange you have it, but it may be maintenance or exchange outages, or worse currency exchange could be hacked. That's why I choose wallet.
Even on exchange you have it, but it may be maintenance or exchange outages, or worse currency exchange could be hacked. That's why I choose wallet.
I keep on telling people who cares to know, DO NOT ever leave your coins on any exchange. No matter how secure they claim to be, or promise to be, they can never guarantee you that their exchange won't be hacked anytime. Do yourself a huge favor and open a secured offline wallet for storing your coins. When an exchange gets hacked, it is only an apology that you will get from them, not a single coin.
Yes it sounds reasonable. But as far as I know allmost all exchanges that were hacked compensated the lost fund to their traders. Especially if we talk about top exchanges, they have a huge daily income and there reputation is much important to them that some stolen millions of dollars. I don't mean to say that is very safe to store your coins on an exchange but in most cases I won't hold my tokens in a wallet, I prefer to set a sell oder at the desired price and wait until it's sold.
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
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
Wallet is always the safest way to have, you'll be at peace knowing that you alone has only the full access in your fund. Exchange is not really meant for holding coins, it was made to buy and sell but no hold. Exchanges might fail at any moment and once that happen you will never know what to do. Im also having coins in an exchange but I make sure that it wont last there for so long.
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
Wallet is always the safest way to have, you'll be at peace knowing that you alone has only the full access in your fund. Exchange is not really meant for holding coins, it was made to buy and sell but no hold. Exchanges might fail at any moment and once that happen you will never know what to do. Im also having coins in an exchange but I make sure that it wont last there for so long.
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
Depends on your needs. I personally wouldn't keep any crypto on 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
If you want quick access to your Altcoin then keep it on a exchange and bear the risk of losing due to hack or getting your account locked or something.
If you are a long term holder, Better download a desktop wallet and keep it there or better a hardware wallet. (If your Altcoin is supported)
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
How come such question even occurred? 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 way to hold your coins is not to keep them on exchange of course. I personally have both Ledger and Trezor and hold my coins there safely.
Like most people here a wallet and especially a hardware wallet is the safest and makes the most sense. Only when you hold a very small amount ,$100 or less it isn't worth it to take it off because of the fees. And make sure to do your research on the exchanges you are using , usually there are red flags around the bad ones.
I think that in any case you will need a purse. No, of course, you can keep money only on the exchange, but still have to start a purse. And I think that in this case the multi-currency MyEtherWallet will be the best choice.
advancing technology is affecting the crypto money market. exchange sites offer safe shopping. but the wallet is another. a much safer platform than the other.
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
It boils down to how much money to you have in an exchange. If the amount is huge so its better to store it to a wallet that you have control of the private keys. In an event of a hack in a trading platform, your money will be gone 100%. I advise just put enough money on a exchange for your trading activity and transfer most of your money in a secured wallet you own.
I'm sure that you heard about hacks in a exchanges and people bitching out that they lost a lot. Well, let that be a lesson for all of us. I say do not put everything on a trading platform. Don't be another statistics on the growing number of people losing money in a exchange because it was stolen by a hacker.
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
it depends on the strategy what you want to do. I keep some fiat and coins/tokens for short term buying/selling on an exchange, and all the other tokens on my ledger. If you are a daytrader you wont have time to transfer tokens from hardware wallets to exchanges to make a trade, but also everyday an exchange gets into some trouble so keeping everything there is not clever. Cryptorush, Mintpal, Cryptsy and some others took some of my coins when they sunk.
Imagine the access to your house is managed by third party security company that you must get in touch with every time you want to get in and exit your house! Would you feel safe? Could there be security breaches because you are not in control of your building? Putting your coin on exchange is like handling your security to third party!
In my opinion it's safer to keep your coins and tokens in your wallet because they are safe there.
Exchanges get hacked sometimes and your coins and tokens will be lost if it happens eventually.
So to be on the safe side its better to use Wallets for storing your coins and tokens
Exchanges get hacked sometimes and your coins and tokens will be lost if it happens eventually.
So to be on the safe side its better to use Wallets for storing your coins and tokens
Leave only coins you plan on trading a lot on the exchange, leave your long term holds on a cold wallet offline unless your staking them for mining rewards but make sure your staking wallet is totally secure, for instance the DEEP ONION wallet runs on top of the TOR network as has several layers of security. Try and make sure you yourself don't get hacked revealing your private keys.
Wallet is better than exchange! İt is under your control. Control is important!
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
50%/50% This option gives an opportunity to react to market jumps, and in part to receive additional earnings.
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
Always store or save your tokens in wallets where you have 100% control over the private keys. Only use exchanges for trading - not saving or storage. The reason being: Exchanges control the private keys and/or access to your tokens when you keep your tokens in their wallets. As proven with Mt. Gox, Cryptsy and the likes, it is best not to fully trust them.
In addition, hardware wallets such as Trezor and Ledger - bought from official sellers - go a long way when it comes to full ownership, convenience and security. Such wallets also make it easy to store multiple tokens in multiple wallets in a secure and convenient manner.
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