Depends on how you're going about it.
If you're a long term investor, wallets and cold wallets. Don't even think about holding long-term on exchanges.
If you're a trader, then it's fine to have some funds on an exchange. But always remember to use 2FA to keep yourself protected. And only keep what you're willing to lose on an exchange.
Topic: Exchange or Wallet? - page 50. (Read 8741 times)
It depend on you are long term or short investing. If you are a long term investor i advise you should store all coin which you buy in your wallet, this will safer than. But if you are a trader, of course you have to store your coin in exchange, this will help you saving fee deposit and withdraw.
If you do not trade, but just keep coins for a long time and wait until they grow strong, then the purse.
If at least several times a week doing operations in the market, then the exchange.
In fact, if you do not get bored a million times a day to transfer money from your wallet to the stock exchange and back, you can store it on your wallet.
I think that the purse is more secure.
If at least several times a week doing operations in the market, then the exchange.
In fact, if you do not get bored a million times a day to transfer money from your wallet to the stock exchange and back, you can store it on your wallet.
I think that the purse is more secure.
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?
I would like to hear some advice. What are pros & cons of each option?
In my opinion, it is better to keep coins in your wallet. Because there may be glitches or other situations on the exchange.
Never ever leave your coins on exchange, except for the ones that you want to trade regularly with. If you do not hold the private keys of your wallet you do not own your coins. Take example from mt gox and recent hack of nicehash, etc. Best way to store your coins is in a hardware wallet.
It all depends on your choice, if I better use a safe exchange for trading and save some coins. I will not use the exchange to keep my coins in the long run but for day trading they are fine. Make sure you use a reputable exchange with appropriate security measures.
Never ever leave your coins on exchange, except for the ones that you want to trade regularly with. If you do not hold the private keys of your wallet you do not own your coins. Take example from mt gox and recent hack of nicehash, etc. Best way to store your coins is in a 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
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 how will you use it, but if you focus only on one crypto currency I suggest you can go for wallet and it has a lot of features not just only of blockchain transactions. In PH I typically use coinsPH which is the default wallet in my country, whereas I also use it to pay my utility bills and other payment methods.
If you have a lot to lose, than a wallet is a safer way. There were some attacks against exchanges in the past. But I know, that sometimes it is more comfortable to just keep the money in an exchange.
It is safer to store your coin in your wallet, since you have a key, you have control over it. Storage in exchange may be required only when you want to buy coins.
I would use MEW wallets for the bounty tokens and etc, but exchanges to hold my trading coins that I use often there
It is depends and if you do short term trading it is good to keep it in a exchange. But if not it is always safe to keep in a wallet. I always keep my coins in a myether wallet and it is safest wallet out of all. For additional security i installed metamask and it is a extension of google chrome. Then you do not need to put passwords for the MEW website. Further it is important to book mark the MEW site and always try to log from them since there are so many phishing websites.
both have their respective strengths and weaknesses. in theory then the wallet is much more secure than the exchange, therefore the wallet is suitable for storing very large funds. while the exchange is more risky, especially when the exchange does not have a good level of trust. exchange is only suitable to save part of Fund used for trading. so it is indeed a choice and the choice depends on ourselves. .
Leaving your coins in any exchange will get your coins on a risk. So, It will be better if you store it in your wallet than exchange.
Exchanges are notoriously insecure and a bad place to keep your coins.
Of course, if you do day trading than you will have to leave them there, but I would never leave more than what you are using to make your trades.
The reason why exchanges are insecure is because you don't have control over your private key.
Essentially, you are "borrowing" the exchanges wallet and using it, however ultimate control over it is not in your hands.
So if anything happens, than you are at the mercy of the exchange.
And a LOT can happen.
Someone can get your login details through phishing or spyware, dns attacks, or a bot with a trojan hidden in it.
The list goes on and on.
Now, remember, that unless you use a hardware or a paper wallet, your coins aren't any safer than leaving them on an exchange so make sure you secure them properly.
Of course, if you do day trading than you will have to leave them there, but I would never leave more than what you are using to make your trades.
The reason why exchanges are insecure is because you don't have control over your private key.
Essentially, you are "borrowing" the exchanges wallet and using it, however ultimate control over it is not in your hands.
So if anything happens, than you are at the mercy of the exchange.
And a LOT can happen.
Someone can get your login details through phishing or spyware, dns attacks, or a bot with a trojan hidden in it.
The list goes on and on.
Now, remember, that unless you use a hardware or a paper wallet, your coins aren't any safer than leaving them on an exchange so make sure you secure them properly.
If you are a day trader. Exchange will be the good thing for you to hold your tokens, since you are also using them for trading. But, if you are a holder. I suggest to put it on a wallet. It's actually hard to hold your tokens on exchanges, they might say they were hacked, then everything you had will vanished.
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 the best way to keep your assets is on a exchange. if you are using MEW import thingy I should recommend you to use metamask extension. I do usually trade in Ether Delta . Idex Coinexchange binance and Cryptopia, as a trader I am leaving my coins there for about 3 months and then do a trading. with that I can manage to double my investments and just wait .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 the best way is to store to your wallet because sometimes exchanger can scam us because they do own the control of that
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
It's safer to keep the coins in the wallet, because the deals on the busy exchangers, allowing hackers to penetrate.
I think if exchange have 2fa it safe way to hold tokens. Storage on the wallet is also very safe, but it is better not to use the private key way to access.
As for me, I would recommend using a wallet. I consider it to be a safer way to have coins. If to talk about me, then I am going to hold my coins in the wallet and it is very important not to tell a password to anybody
its safer on your wallet though, but if you're a daily trader then you should keep some large amount on exchange
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