Exchange or Wallet? - page 55. | Bitcointalksearch.org

h55

member

Activity: 210

Merit: 11

Quote from: Janinjo11 on February 12, 2018, 12:55:57 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

only remember some of the hacking events of exchanges, they do not respond in most of the cases and you must wait to they can return your coins or money, but if you hold your money in your wallet, you will access when you want..

herrysam

newbie

Activity: 45

Merit: 0

If you want to hodl for a long time then definitely you should go for wallets. But if you are ready to trade then exchanges are good to go. I prefer multi-coin wallet instead of many wallets.

BlueDex

newbie

Activity: 2

Merit: 0

I personally own BlueDEX, a decentralized exchange for ERC20 tokens. My view is that you should always withdraw back from the exchange once you are done trading. Also consider buying a hardware wallet for maximum security.

KotBas

jr. member

Activity: 280

Merit: 3

Quote from: Janinjo11 on February 12, 2018, 12:55:57 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

I think that the best way is to keep coins in your wallet, so it's safer. But you definitely need a new purse, which you did not shine anywhere, so that it would not be robbed by the mosquitoes.

mario00

newbie

Activity: 133

Merit: 0

Leaving your coins in an exchange when you are not using them to trade or anything is very risky. You should never use exchanges as a way to store your coins because it is not advisable and when an exchange gets hacked, it is very easy for the hackers to make off with your coins with little effort and you could never get them back

Parabellun1917

member

Activity: 462

Merit: 10

Quote from: Janinjo11 on February 12, 2018, 12:55:57 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

I think keeping the coins in a wallet is calmer.

armlock

sr. member

Activity: 560

Merit: 250

At the stock exchange, I do not see any sense in storing tokens. It turns out that your money lies not with you, but with someone ... It is advisable to buy tokens on the exchange and keep them on your wallet. The exception is if you want to buy and sell them in a short time with a small profit! In this case, it makes no sense to pay a commission for withdrawal from the exchange.

hovrah

sr. member

Activity: 756

Merit: 250

Quote from: Lisa110386 on May 11, 2018, 03:18:16 PM

Of course, it is better to keep your coins on your wallet. Coins that you have on the exchange, in theory you do not belong. And if something bad happens to the exchange, you can lose coins.

I completely agree with you, as many times this has been said about and many times there have been bad cases, with the loss of personal funds from the stock exchange account.

Lisa110386

member

Activity: 1204

Merit: 13

Of course, it is better to keep your coins on your wallet. Coins that you have on the exchange, in theory you do not belong. And if something bad happens to the exchange, you can lose coins.

Fedrey

member

Activity: 644

Merit: 10

Quote from: Chronner on May 11, 2018, 03:00:14 PM

Kiddies, keep your coins in stock purses. So it will be easier for you to lose them. The exchange can close and your coins and tokens will remain with the owners of the closed exchange.

The fact is that it is much safer to store coins on a purse. The address of the coin of any exchange is only places for transfer and for trade in coins, but not for storage.

Chronner

member

Activity: 420

Merit: 31

Kiddies, keep your coins in stock purses. So it will be easier for you to lose them. The exchange can close and your coins and tokens will remain with the owners of the closed exchange.

cryptonad

jr. member

Activity: 85

Merit: 1

If you are planning to hodl your altcoins for long term it is better to keep it in the wallet. For safety reason, it is advisable to keep your altcoins in more than 1 wallet just incase in worst case your wallet is hacked then you will not lose all your investments. Keep altcoins in exchanges only if you are planning to trade it at the earliest.

xmas7

newbie

Activity: 29

Merit: 0

Depends how much crypto you have. If you have less than 500 USD in crypto, you can keep it on exchange with 2FA. But if you have more, rather withdraw it to wallet and secure your wallet properly.

vladaziya1

newbie

Activity: 160

Merit: 0

For me it is better to wallets, because it is safer and more convenient (for me personally). And so you yourself should study which way is more correct.

vitkamenev

newbie

Activity: 252

Merit: 0

Of course the wallet is safer. Especially if you have a" cold wallet " that you store on a flash drive and observe all precautions. I do not trust the exchanges, transfer to them only in case of transfer to fiat.

coinbergh

member

Activity: 532

Merit: 29

I think wallets are safer than exchanges. There are so many exchanges and you don't know which one is trustable? Also we are using so many exchange at the same time.

On the other hand, if you are hold your coins/tokens long term, the answer is definitely wallets. Physical wallets are another option for keep your coins/tokens. Ledger, Trezor etc...

seandiumx20

full member

Activity: 312

Merit: 109

arcs-chain.com

Quote from: Janinjo11 on February 12, 2018, 12:55:57 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

Exchange sites is not safe like what happens on Etherdelta a long ago. There are many tokens that has been gone in the exchange. It's better to secure it on wallets because it has a maximum security and there is 100% assurance on it. Some exchanges are having maintenance and because of that there is something errors happening so 50% of tokens is being gone.

ZBer_Cut

newbie

Activity: 128

Merit: 0

When you have little amount of money you can leave it on exchange to trade it. But when you have important funds in stake you have to keep them safe. Wallet it's essential, mandatory.

mikki14

full member

Activity: 299

Merit: 100

Quote from: Janinjo11 on February 12, 2018, 12:55:57 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

Depends on you. The pros of using a wallet is that you have your private keys, when your coins are in an exchange you are relying on the 3rd party security. And if you will open a wallet for each coin I think it is more risky especially if you have a lot of coin, it would be better if you will use an ERC20 wallet. And if you want to trade, if it is stored in a wallet, you will pay more fees. Fees to transfer it to an exchange, fees for the exchange (coin to other coin) and fees for transferring it back to your wallet and fees when you want to encash it.

jatin729

full member

Activity: 812

Merit: 108

My suggestion to you if you want to store coins for longer period of time than you have to choose wallets instead of exchanges.
because we have seen recent example of Yobit exchanges few months ago. Yobit exchange had seen bad situation due to some reason, that's why they have stooped support .
that's you can use exchanges when you want to do trading.

Topic: Exchange or Wallet? - page 55. (Read 8771 times)