Exchange or Wallet? - page 3. | Bitcointalksearch.org

Polar91

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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

Obviously, it depends on what purpose you are going to use it. If you are going to use it as saving and it is a huge amount of coins, the best wallet you may use is ledger wallet since your private key won't need to be shared thus it's more secured than any wallet platform available. However if you are an active trader, it's better to put it in exchange to make things easier for you at the same time it's still secured.

prettymargaux

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It’s best to store your assets in a wallet where you hold your own private keys and thus you have your full control of it. It’s a big no-no to leave your funds in the exchanges where you don’t actually own the private keys and are more vulnerable to security risks. Send your digital assets in the exchanges only when you are about to trade it. This way, you and you alone will be responsible for your security.

gokusenpai0302

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It depends on what do you really need if you want to invest in many coins or other potential coins which are cannot be found on the top 50 list probably you should try exchanger. If you plan to invest in only a few coins especially the famous one like Bitcoin, Etherium or Ripple which almost all wallet is supported then getting wallet is a must. In my experience, I typically use an exchanger to hold my bounty tokens and exchange it with Bitcoin in order to send on my local wallet for encashment.

Daihan

newbie

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If you want a long term investment then you must create your wallet. It is best if it is offline wallet, a hardware wallet. And if you want to trade then put a partial amount of your capital to exchage.

Neutrality

sr. member

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You should use exchange only for trading. If you don't make a trade for a while then withdraw your assets to cold storage. Exchanges are having troubles nowadays with withdrawal so if you'll need to withdraw your assets immediately yo may not have a chance to do it

KzStPn

jr. member

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If you took a coin for a long time, then definitely keep it on your wallet. If for trade, then on the exchange. But exchange purses are on maintenance, problems with withdrawal of funds are possible.

senyorito123

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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

If you are a trader you can put your tokens in the exchange site because this is the easiest way so that you can trade directly,but you need to be careful and be vigilant always if you place your tokens in the exchanger because it is very risky and i heard how many times in the news that the exchangers is hack,and the most advisable and safe way if you want to hold it for a long-term is to put your tokens in your personal wallet.

ZEIIMAN

full member

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Personally, I have wallets only for eth, btc and neo. The rest of the coins have their own wallet I store on the exchange, because I do not consider them reliable.

Xuaquing141

newbie

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Wallet or exchange depens on your aim. Store at exchange if you want to trade or change this tokeno the others tokens. Store in wallet if you want to hold this token in the long term. But in exchange, you should update the news day by day because this token can be delisted drammatically. Please be aware.

serizawa

sr. member

Activity: 672

Merit: 250

My coin is all in the exchanger, nothing in the wallet
because I keep my coin for trading is not to hold long in the wallet

dmerrifield9844

newbie

Activity: 79

Merit: 0

Exchanges is not safe by definition , you never know when certain exchange will be hacked or just decide to delist your token. The only reason you mayl want your coins on exchange is to trade them . If you are not a trader - wallet is your choice

oOVVVVVVVOo

member

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The best option for storing your altcoins is a hardware purse. It is reliable and safe. But it all depends on what you're going to do with the coins. If you often trade, then keep them on the exchange.

Sakira72

newbie

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If there is good wallet for the coin/token - of course wallet. But sometimes the coin wallet is a piece of shit with many technical flaws, so in this case use few exchanges. Lips sealed

MoneyBetterLife

newbie

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I think it's always better to distribute your assets among several sources of storage. It will help you to protect them, but as for me it is still better to keep money on the purse than on the exchange.

iamsediii

member

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Ofcourse wallet. Just because exchangers is a centralized, you give your money in the exchanger. Which means, if the exchanger closed, your money stoled.

Exolife

newbie

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better stored in the wallet in the past just because it is more secure and of course can instead be used for savings and investments, who sell us coins that year could have the higher price then it could be sold at any time if the price began to higher . Hardware wallet or personal wallet still better than exchange wallet. Many exchanges hacked include Binance and 1st Exchange from Korea and Japan. Hold your private key also have some risk about trojan,internet hacked, etc. Two things have its risk so choose what you think better.

yslyv

hero member

Activity: 1022

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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

wallets are much more safe comparing with exchanges. especially if you use a clean computer and a hardware wallet you are in safe. but keeping them in exchange has also some advantages such as putting stop loss and orders. so you dont loose time to transfer them during a dumb or pump.

Yana_1

full member

Activity: 378

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Many exchanges currently attacked by hackers are not all exchange but I think if you want to invest then you have to save your coins on hardware wallets like ledger s nano.
If you only want to exchange then I suggest saving on exchange, but rather choose a safe exchange like bittrex or binance because these 2 exchange is the best exchange I know.

Leetukyang

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Activity: 322

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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

At first I hold and keep all my tokens to a wallet. Myetherwallet to be exact. But I feel bad because it is not safe now to some of the wallets. I got hacked, all may tokens got stole.

I now keep and transfer some of my tokens to exchange, since this has good security and it will be hard to hackers to hacked a system who has a good security.

ms.moon

jr. member

Activity: 266

Merit: 1

In my opinion, it depends on your purpose when you keep a coin. If you want to trade, you should keep it on the Exchange site, which will make it easy for you to trade. If you are a holder, you should keep it on your Wallet PC, which will prevent you from being scammed by Exchange sites or hacking into accounts on those sites.

Topic: Exchange or Wallet? - page 3. (Read 8740 times)