Topic: Exchange or Wallet? - page 29. (Read 8740 times)
I use wallet exchange, I think it is very convenient and safe . But everyone chooses for himself what he likes
Of course for having more security, I would choose to have my investment both on exchange and on the wallet, even on many wallets
Noting is secure nowadays. Neither any exchange or any online wallet can secure from theft. However, there is a silver lining. If you know how to configure a hard wallet, you most definitely should. it's the most secure way to store your crypto, though given that your hard disk where you store your hard wallet should not get corrupted. In order to prevent that, you should take multiple backups. Else one way is to evenly distribute your crypto balance across different online wallets. But refrain from exchanges. they are very insecure and most liable to attacks and thefts.
Guys, some days ago my MEW was hacked and I lost 500$ (I know that it is not possible to hack MEW and obviously it was my fault), so since that time I decided not to store all my money on MEW , but split between exchanges and Mew.
It is clear that if you want to trade you tokens, you must use some exchange platforms. So, if you want to trade- just leave them on its platform, if you want to hold it- put in your wallet and forget about it.
Both are good as they perform different functions. Exchange wallet is normally used for trading and you don't have full control over it while in terms of normal wallets you have full control over it as the private keys and even the address belongs to the owners alone. It's the best place to save your coins after trading in exchange it important you move your coins to your wallet for safety
In principle, not so many purses are needed, one for bitcoin, the second Etherium and for all other coins!
It depends on your crypto strategy. If you are going to hold tokens there is no difference where to hold. But an exchange is more simple and useful. You can check your balance, price of tokens, buy or sell in one place.
If a person Intend to hold In a short-term period, then better for himm to put his coin In an exchanges site, so that Its easily to trade, once It will the hit target price that he has awaited for. But, when Intend for a long-term It should be keep on your wallet, to avoid being loss.
I keep my investment all spread in different wallets and exchanges. There is no way to say what is safe. If you keep it all in the wallet then more or less you are yourself in control of them, but keep in mind that if you get hacked then nobody will help you. If you keep on exchange then they also have access to it, but if it gets hacked at least there is a hope that exchange support can help you. So the only advise I can give is not to keep everything in one place
to be honest, it`s better to get wallets for each coin. but that`s too difficult and takes a lot of time. however, if your deposit is very big, precaution will not be superfluous
It depends on your crypto strategy. If you are going to hold tokens there is no difference where to hold. But an exchange is more simple and useful. You can check your balance, price of tokens, buy or sell in one place.
I prefer to keep my all asset in exchange, so i can trade it immediately to make more money. But to be more safe, i use multiple exchange centralized and decentralized exchange, and also use security feature of all exchange. This is will minimize the risk.
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
On exchanges, it is worth keeping only those coins that you trade every day or which you want to sell in the near future. If you bought something for a long time - it is better to withdraw to your wallet is not tied to the stock exchange.
Surely I would choose a wallet to store coins. I think if you already have wallet that support with ERC20 do not have to worry anymore. Exchange does not function to store coins, it is only used when we want to sell or buy.
According to me, it is safer and a way better option to keep your coins in wallets because Exchanges are always subject to hacking.
If you make use of the holdings regularly for trading needs, then it is good to keep hold of the assets within the exchanges.
This provides with the convenience and for long term holding needs wallets were the right pick.
Also it is a must to go through the reputation of the particular exchange so to stay away from hacks.
This provides with the convenience and for long term holding needs wallets were the right pick.
Also it is a must to go through the reputation of the particular exchange so to stay away from hacks.
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 frequently heard of people getting hacked on exchanges but it's very rare on wallets. Scammers want to target an easy but with a huge money inside and people like us who only have a single btc is not worthy of their time so always leave your assets on your wallet.
Of course its much safer to keep your coins and tokens on yout wallet. But if you are like and invested in different coins, you dont feel like to install 10 different wallets on your computer. And even more when you just buy a small amount of their coins. So i can understand when people are keeping their coins on exchanges. Its just more comfortable but a lot more risky!
I strongly recommend to only leave coins at the exchange during the period you want to get it traded. Aside this, I always and shall forever continues to leave my funds in my wallet wherever and whenever I acquired them in one way or the other. I believed the risk involved in leaving funds at exchanges is higher in terms of been hacked or scammed, since exchanges are one the most targeted areas for these ridiculous scammers and hackers.
It's depend on you. If you want to trade with your asset, the best choise is use a exchange so you able to go trade soon. If you want to hold a coin for long times, tye good choise is you use an wallet because you will get all features to secure your asset because only wallet give you private key and the private key take only you can access that asset.
For holding a coins must better to choose Myetherwallet because it was safe to put you coins on there but be careful because they have some site they same as Myetherwallet and must check always if this will be the true MEW. And for trading maybe just choose to those exchanges that listed you coins. Jump to: