Topic: Exchange or Wallet? - page 47. (Read 8741 times)
Both have their respective functions. Exchange is reserved for those who want to trade, but we have to keep carefully keep the coins on the exchange because we do not have full control. Then if you want to just hold a coin, better use the wallet. I thought it would be safer.
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
Wallet, avoiding frequent transactions. 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 want to hold for longtime wallet it's the answer, but if planning to trade it on Exchange will make it easier, so get back to your needs. if in bulk I prefer to keep it in my private wallet because of anxiety if there is a problem on Exchange but all back to your belief, if I better prevent.
It really depends on your preference. Both are great but with different uses. If you like holding a coin for some time, its better to use crypto wallet because it is made for crypto storage. On the other hand, if your the type of day-trade person, better to use exchanges because you can trade your coins on it easily everywhere anytime. You can also check the crypto market at real time.
Putting your crypto assets in cryptoexchange's wallet is a very risky thing to do in the sense that many major exchanges have issues regarding those coins being deposited on their site. The hacking risk is a bit high and if it happens that the cryptoexchange is a scam, then all of your assets there will be lost for nothing.
This is the most important of all that someone in the crypto should put in their minds. As a matter of fact we discourage systems that asks our private key as its like giving a password.
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 try to use various services to store my cryptocurrency savings. The safest way for me is hardware wallets. I keep about half of my money there. But such wallets are inconvenient to use. So I use online wallets too.
it is better to store your coins or token in wallet to be secured and to avoid hackers in exchange. Many exchange site that is harmful to the hackers out there but choose an exchange that is secured when it comes to holding your coins or tokens
I am keeping 70% of my fund in my hardware cryptowallets for long-term holding and 30% are at famous and solid exchanges for short time trading.
I advise you to buy Ledger. With him, you'll sleep soundly, knowing that your tokens are not being stolen. I would also like to say about wallets. Store the crypt on a separate computer without access to the Internet. This is the key to success.
I prefer to keep my coins on Binanance, as I trade a lot. But it depends. If you want to trade then keep it on an exchange. If you want to hold for a long time - the wallet is the best solution for you. Because you can handle your coins as you want, unlike an exchanger.
Saving all the coins in one exchange for me is not very recommended, because saving in exchange is very risky. If you want to save on an exchange, better keep it on a reputable exchange but you should still review it every day to keep funds safe there. I would recommend saving funds on a wallet.
Transactions in Bitcoin and other cryptocurrencies are irreversible once done - you can’t roll them back. There is no higher authority that could do that, like in credit card transactions where you can report a fraudulent charge and the credit card company removes it from your account.
So security becomes number one priority in everyday work flow of an exchange. But it is hard to provide good security when users choose simple passwords and 2FA is only used by a few percent of users, making phising a common tactic used by hackers to steal funds.
Hack of an exchange can costs hundreds of millions dollars and become reason of bankruptcy of service.
REMME is working with several Bitcoin exchanges to provide them with a protected authorisation platform based on the same cryptographic principles with an user friendly one-click 2FA that will significantly improve security and defend from most cyberattacks.
So security becomes number one priority in everyday work flow of an exchange. But it is hard to provide good security when users choose simple passwords and 2FA is only used by a few percent of users, making phising a common tactic used by hackers to steal funds.
Hack of an exchange can costs hundreds of millions dollars and become reason of bankruptcy of service.
REMME is working with several Bitcoin exchanges to provide them with a protected authorisation platform based on the same cryptographic principles with an user friendly one-click 2FA that will significantly improve security and defend from most cyberattacks.
Exchanges are always subject to hacking which many believe that the owners who are behind and just made up the hacking incident. So just keep it on your wallet because the only person you can trust is yourself.
Its totally depends upon what you want to do with your coins. if you want to hold your coins it that case you need only wallet. On the other hand if you have a interest in trading, than you need a exchange. Means its depend on your interest area.
exchange or wallet all have different functions and have similarities that can save it your coin alt.
the difference depends what you want to do on alt coin.
want to sell it or hold it for long period of time.
the difference depends what you want to do on alt coin.
want to sell it or hold it for long period of time.
If you are an active trader, it's ok to put some of your coins in exchange, but if you are a long-term holder then the wallet is your best choice, but do not put the majority of your coin in exchange, we have seen a lot of complaints on exchange, being hacked or compromise, so play safe wallet is still preferable.
Well, if you keep the coins on the stock exchange, if it is suddenly hacked, you can lose money. This of course can happen with a purse, but this is less likely. I prefer the wallet.
I would rather prefer wallet if the price of the coin is low and if you believe that it will be a profitable coins but if you think that the coin is just right for it's value in the exchange then sell it.
prefer to keep each coin in their official wallet than leaveing all of them on exchange. It is always safer to hold it in wallet but it requires a lot of effort and hard disk space to store all that wallets, the cons is it's troublesome to move them if you want to sell some of them.
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