Topic: Exchange or Wallet? - page 4. (Read 8740 times)
Wallet. Exchange is not safe because you do not have control over your asset after it goes to exchange address.
Unless you want to trade on a daily basis then there is actually no sensible reason to keep your coins on an exchange, you lose all accountability for your tokens and rely on somebody else to take proper care of them for you.
I, too, do this, if I buy coins for a long period, I will necessarily re-enter them into my wallet
Unless you want to trade on a daily basis then there is actually no sensible reason to keep your coins on an exchange, you lose all accountability for your tokens and rely on somebody else to take proper care of them for you.
for taking quick action, exchange wallets better than local wallets. but all of ppl knows that exchange wallets never be safety. there is always a big risk to hack attempt on exchange account.
I’d say it depends on your objective. You should use an exchange if you do daily trading and need the money fast. And you should use a wallet if you want to keep the money you're hodling safe.
Most times i have different reasons for what i do i could keep my coin sin exchange if i have a need to sell them out but also i keep them in my wallet the exchange could get hacked so for me the wallet will be better but the offline paper wallet
If you are a long-term investor, then you need a cold wallet for sure! If you are medium-term, you can store on different exchanges and periodically make changes to your portfolio!
I just prefer you too keep your high valuable coins in Exchange and rest which have still to launch or low valuable should keep in wallet. With this criteria, there should be a no risk and no hacker will notice your wallet.
I prefer to have my token in the wallet than in exchanges because wallets are more secured to me in term of hacking. We have been hearing so many news of late on how tokens were wiped off from exchanges by hackers
I keep coins on exchange, but not so much of it and i do this solely for the purpose of trading. The bulk of my coins are kept in wallet, because wallet is safer. I use imtoken, but i am proposing to get a hardware wallet. If you know you do not want to risk loosing your coins, then use hardware wallet.
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
In my opinion the choice in this case is unambiguous. You shouldn't store coins at the exchange long. It happened sny breaking of cases and closing of the exchanges. I store only those projects which I plan to sell in the nearest future at the exchange. In other cases I use e-wallets. They are considered as rather safe! 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 think that it’s never a good idea to hold your coins on exchanges because you don’t have the private key and can’t really have full control of them
You ain't a trading with the coins, then it's much safer to get a a good wallet that supports numerous coins and keep your coins. If you are trader, you can keep maybe your trading capital on the exchange.
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
Do yourself a favour and help to sleep better at night by getting a hardware wallet
Otherwise on exchanges your funds are always at risk, however big the exchange, and somebody always has control over your funds still ultimately. Why would you want that?
Of course the price of violas is growing. There's a temptation to sell them. But I will. I will wait for the bitcoin exchange rate of $ 10,000. After that I will decide to sell some coins!
You should probably want your coins in your wallet and never let it stay too long in an exchange site. Exchange sites are very prone to breaches and therefore it is not safe for you to leave it there. But if your wallet is known to be hacked a lot, you should let is stay in exchanges so that you can secure your coin more.
I'm more at peace with both options once the Exchange has a good security implementation like 2 factor authorisation. At least I will know my coins are safe unless the exchange itself is hacked. On the other hand I like wallet because it can't be hacked unless I mistakenly visit phishing sites but I'm not 100% confident in them because once you lose your private key, you lose access to your wallet and you can't stop transactions from your wallet once it has been recorded on the blockchain.
I leave only coins with very low amounts ( less than 100$) of exchanges trusted like binance if I can’t store them to a trusted wallet, otherwise I always withdraw my coins to my wallet for safety
If you prefer to trade actively , so it does mean to make transactions every hour or even minute , is more convenient for you to keep your means on exchanges, because the rates are not static, and you don't need your computer to go to your wallet, you can do it with any device with internet access. But in this case you need to allocate funds to several exchanges, to lower the risks.
Your daily activities or your plan will determine where to keep your coins.
For trading, exchange is the best so you can have easy trading but for Holding, it's better to use wallet.
For trading, exchange is the best so you can have easy trading but for Holding, it's better to use wallet.
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