Topic: Exchange or Wallet? - page 17. (Read 8740 times)
Risks are everywhere, so it is difficult to decide where to keep the coins. The presence of these risks is one of the major factors that constrain the arrival of new investors in the cryptocurrency market.
If you're trading then keeping those coins on the exchange makes sense, but overall it is so much safer to keep your crypto on a hardware wallet like a ledger or trezor.
I am actually using it in two options when trading in crypto currencies. but according to research it is safe and easy to use wallet.
saving a coin in the wallet means we still have a chance if the price of our coins goes up and I think it is safer but if we keep in exchange there is a chance that we follow the closing exchange or not operate anymore
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 advise you to keep it on the exchange, because in my experience it's safer than you keep it on your wallet. especially if you want to trade you do not need to issue a gass for delivery if your assets are stored on the exchange
I would turn the question:
Decentralized or centralized storage?
The answer is definitely decentralized.
The whole blockchain and cryptoworld biggest advantage is decentralized, no one should be capable to steal your coins (except of your fault if you let hackers to get your private key), but if you store your coins on an exchange they can do it anytime.
Decentralized or centralized storage?
The answer is definitely decentralized.
The whole blockchain and cryptoworld biggest advantage is decentralized, no one should be capable to steal your coins (except of your fault if you let hackers to get your private key), but if you store your coins on an exchange they can do it anytime.
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 recommend to choose wallet. Also this is based upon your own use, whether you could trade or hold your coin. If your going to trade obviously exchange is the preferable option. But if you are going Hold keep your money in trust able wallet.
I think it's better to keep coins in the wallets of the top exchanges. If suddenly what happens - they will reimburse the damage. If you keep the crypto in your purses, then you are uninsured of your mistakes in any way.
It's obvious that you OWN the coins only when you have them stored in your wallet which you control via private key, or word seed.
Centralized exchanges don't offer you private keys, so there is definitely a risk of storing your assets there for a long time.
I do store small part of my coins on exchanges, only to be able to make a good buy or sell at the price i desire, because sometimes you can be too late to buy or sell some particular coin.
Another way is to store your assets on decentralized exchanges, which are only gaining popularity but still having low trading volume, anyway i do believe that those exchanges should be in demand in near future.
Centralized exchanges don't offer you private keys, so there is definitely a risk of storing your assets there for a long time.
I do store small part of my coins on exchanges, only to be able to make a good buy or sell at the price i desire, because sometimes you can be too late to buy or sell some particular coin.
Another way is to store your assets on decentralized exchanges, which are only gaining popularity but still having low trading volume, anyway i do believe that those exchanges should be in demand in near future.
Personally, I use my wallet. I consider it more reliable and promising. After all, now the crypto currency market provides a large assortment of excellent purses. For safe storage, crypto currency.
Personally, I trust the wallet, all these news with the breaking of exchanges do not cause trust in the exchanges
Maybe binance will be the most trusted exchange if they will keep this i think no one will overtake binance and more people will store their coins in exchanges instead of wallets
Personally, I trust the wallet, all these news with the breaking of exchanges do not cause trust in the exchanges
exchange sites are better to make transactions quicker and take advantage of instant fluctuations. But from a security standpoint it seems much more accurate to keep it in your own wallet.
I want to make more profit from high volatility of crypto so i have to keep it on exchange so i can trade it whenever, and to avoid risk of exchange i used 4 different exchange and i put each 25% of my coin. Although keep coin on the exchange is risky but by this way we can reduce the risk. Keep coin on personal wallet also has small risk when we are forgot and loss the private key.
The best is to keep your coins in the wallet, the wallet you control your own private keys to the fund, the funds on the exchnage is not yours, exchnage can close down. get hacked or even hold your fund the way Bittrex did to some people recently
In fact, you can lose your coins both on the exchange and in your wallet. Everywhere there are risks. But on the stock exchanges of course, these risks are largely independent of you personally. So for trading and short-term investments, of course crypto exchange, for HODL wallet and better cold, hardware or even paper
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
Keeping funds in exchange is very risky I think everyone has to hold their funds in wallets. You have to be owner of private key if you are holding coins in exchange you are not really owner of coins. Exchange can be hacked or simple vanish and then what, keep all funds in your wallet.
I would prefer storing your coins in the wallet rather than saving it on exchange. My coins are safely stored in my wallet and so far my coins are still secured. Many users have already proven that it is much safe in wallets, but it depends on the wallet we will choose.
If the amount is small and it is possible on the stock exchange, but in General the most reliable is a cold wallet, for large amounts the most 
Personally, to make a right choice you should based on what do you want when using exchange or wallet. In my point of view, if you trade you should use exchange, or if you invest for mid or long term you should use wallet.
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