Topic: Exchange or Wallet? - page 31. (Read 8740 times)
I think its pretty common sense that keeping you coins on an exchange is going to risk them of being stolen or getting hacked. Just cause you will have to download some wallets and transfer your coins to them, which will require some time doesn't means that you should risk your entire investment.
In my opinion even the most reputable bitcoin exchanges are suspect. Not because of intention but because of the many ways an exchange is subject to attack. An onsite wallet service is no better. As I said earlier anything that touches the internet is susceptible to assault
Id settle for wallets in this case, Exchange platforms are vulnerable to hacks, and we have witnessed it happen several times, with millions of dollars worth of coins stolen, wallets on the other hand can be encrypted to the holder's liking, an added advantage if you have hardware wallets which guarantees more safety
WALLET. Exchange platform is not a place to keep your valuable investments, the vulnerability of these exchange wallets to hacks is way to high and its too much of a risk keeping your coins in them, we have heard of the frequency at which exchange platforms get hacked, when they do, all your coins get stolen too, Unless you are a day trader, keep coins in these platforms
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
Better have them both. Wallet and exchange are two different things and its better if you have wallet and exchange. In wallet, you will just store your coins for safekeeping. While in exchnage, you will trade your coins and make some growth over it. After trading your coins, put them back into your wallet.
It depends. If you are an active trader, I think you need to save your assets in the exchange wallet.
If you are not an active trader, a cold wallet is the best option.
If you are not an active trader, a cold wallet is the best option.
In my opinion, what I really wanted to use are wallets and not exchanges. After Mt. Gox and all those other hacks that happened before I am really not sure if I am going to trust those exchanges again. Security is maybe an illusion as long as they cannot guarantee that they would be able to make their websites secure. Also cold wallets are the most secure of them all so, it is really a no brainer which is the best.
well, I've had a lot of experience that I get about hacked exchangers, and it's really dangerous, and risky to keep the funds we have there. it's just that I prefer to save on the exchanger. well, it can be said it's easier, and practical. many of my friends do that too.
In my opinion, what I really wanted to use are wallets and not exchanges. After Mt. Gox and all those other hacks that happened before I am really not sure if I am going to trust those exchanges again. Security is maybe an illusion as long as they cannot guarantee that they would be able to make their websites secure. Also cold wallets are the most secure of them all so, it is really a no brainer which is the best.
WALLET! There are many issues i've been saw that their token was gone after saving it on a exchanges. You know, if an exchange site are having a maintenance they sweep those tokens in your dashboard. Well you can argue with that since it's not a "wallet", wallet is created so you must it in a right way.
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
For me it is still better to keep our coins in a legit and trustable wallet so we can really make sure that all of our coins will became very safe and i like to keep my coins in wallet because i it is more secured and hackers can not able to hack it.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 not say so, hackers are capable of hacking anything. Firstly they can access your computer and get information when you go into the wallet, pick up your private keys or the seed phrase and go into your wallet at any time and steal all of your tokens. Recently, I think that exchanges become much safer than wallets. Save on such as Binance Bittrex and the like.
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 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
For me it is still better to keep our coins in a legit and trustable wallet so we can really make sure that all of our coins will became very safe and i like to keep my coins in wallet because i it is more secured and hackers can not able to hack it. 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
Everywhere there are risks. On a centralized exchange coins are stored on the purse of the exchange, that is, in fact, the coins does not belong to you, but the exchanges have good protection against burglary, and in this case you will most likely get compensation.
If I need to store my coins for a long term I usually use wallets But in most cases I just deposit coins to exchanges, set a sell order at a needed price and set an alarm in Blockfolio. Though it less safe, but in case of sudden pump you can miss it if you hold your coins in a wallet. So I would say that my portfolio is spread like: 20% in wallets and 80% on exchanges.
Of course, it's better to keep money on your wallet than on the stock exchange. They can deactivate your account at any time and simply steal your coins.
I prefer to keep my coin in the exchange because I can directly to buy and sell the coin if I want. besides that, I think I don't need to wait for wait for the transaction if I want to do something with my coins. but I know that every people have their opinion and decision and I am sure that they will make a good decision regarding their coins.
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
It depends on your strategy . If you plan to hold your coins for a long term - you'd better use a wallet , because it will safe your funds from scammer exchanges . In addition , if your are holding ETH , EOS or something like that , what other projects are using to create their own products you can use your wallet to receive airdrops and other tokens which are based on this blockchain . 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
But if you plan to sell you coins in a week or two , you can sefely store it on exchange . Exchange also is giving you an opportunity to quickly react and interact with market if something goes wrong , so if you like active position and have some trading skill - exchange could be a preferred option for you .
I prefer to keep my coins on exchange if I want to day trade or if it is not a big amount.
For long term investments I use cold wallets.
Anybody that has coins on an exchange while having a large amount of it is not going to be happy when their exchange goes offline. For long term investments I use cold wallets.
When you are an active trader who does day to day trading, then leaving your tokens on an exchange may be the right choice. But if you are someone who intends to hold for the price to rise before you start selling, then leaving it in your wallet may be the best choice too.
I've never kept my money in an exchange and slept peacefully. This is because the potential for hacks is higher in exchanges than in my private wallets as exchanges are constant targets for hackers
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