I trying to keep all tokens on the fifferent wallets and differnt ecxhanges.
dont keep all eggs in one busket)))))
Topic: Exchange or Wallet? - page 62. (Read 8741 times)
If we are talking about the storage of funds, then the best solution will be to use hardware wallets, because they will be able to help you secure yourself as much as possible. But you should never keep money on the exchange.
Holding coins for long term you should not place it in exchanges it can be hack anytime or you fall in cloning exchanges then your account will be hack or steal your coins. If you have big amount worth of tokens and planning to hold for long term better you should use hardware wallets.
Of course it's a wallet. On exchanges there is a risk of losing your money. Hold on the exchange is like giving your money for storage to unknown person. The exchange at any time can come up with new rules like Bittrex((
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 do not like to keep money in online wallets. It is convenient for the operative use of money but it is not safe. And security is my priority since I keep my cryptocurrency savings for a long time.
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
The best option is to create your own wallet because exchange wallet is not advisable because you are not in control of your wallet. They can shut it down when ever they want unlike your own wallet that is installed in your PC, you are in fully control of your coins. 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
Advantages of Exchange as your store of crypto is that it easy for traders to make trade without the need to move money in and out of wallet. But its disadvantage is when things go bad on the exchange, then all your funds are gone. So I keep the amount I can only afford to lose on the exchange and the rest on my wallet for future transactions.
I always use wallet, I think wallet more than safe exchange. My wallet nano s. I recommend that everyone use their wallets.
I have my assets deposited on both. If I want to trade I ysually hold my coins on exchange. But for long term , I usually hold it in my wallet. Plus coins in wallet usually get staking bonus.
I think wallet is better than exchange, because it is safer.
Personally, I think it depends on the situation, it's better to have a wallet if you want to keep it. If you trade, it's better to trade. You can keep your coins and tokens in your personal wallet, because it's safer, better to keep them in exchange because you can make you better, better to keep your wallet safer.
I believe that on exchanges you only need to store the tokens that you need to trade on this exchange! All the rest must be stored on purses - only so you can secure your capital! Very often, exchanges are ruined and people lose all their money ...
Yeah I just keep the funds in exchange only in accordance with the needs only, eg for altcoin trading. I don't really like to keep a lot of assets in exchange because its very risky you know, because whenever a third party could be a scam right? so I prefer to keep all the assets in the wallet, without any control from a third party
I gonna pick wallet because im the one who take care of my funds, the keys is on me because the data is lost after tou created a wallet on myetherwallet. So only me can access this, im the one who is responsible for safety of my funds unlike rxchange we are depemding on how was the security of the website. Just like what happen on etherdelta, it got hack and some users taken their money.
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We have in the past come a cross complains regarding insecurities of exchange platforms with most of them being prone to hacking, i therefore don't consider them as safe though they are necessary for trading. Id rather settle for wallets instead, if properly encrypted they can give you the best security to your coins, Web based wallet such as mew are available for free with a high speed transaction, but its the hardware wallets such as Trezor that guarantee your safety.
If it's a decent amount, always keep in a wallet.
If it's just scraps or coins you want to trade frequently, then a good exchange probably
would be okay. But even then, if a decent amount I would never keep them on an exchange too long.
If it's just scraps or coins you want to trade frequently, then a good exchange probably
would be okay. But even then, if a decent amount I would never keep them on an exchange too long.
I would say that wallet is more safe because in the case of exchange hack their system is responsible of their vulnerabulity .
if you use wallet and are carefull where you put your keys and how you manage your wallet, you wont be hacked and you yourself are responsble for you security .
if you use wallet and are carefull where you put your keys and how you manage your wallet, you wont be hacked and you yourself are responsble for you security .
I believe that on exchanges you only need to store the tokens that you need to trade on this exchange! All the rest must be stored on purses - only so you can secure your capital! Very often, exchanges are ruined and people lose all their money ...
The most secure is your own wallet, but if you need to trade them instantly, sometimes getting it from the wallet makes too much time and you can't sell your tokens during a possible price pump. You may get unhappy. This is a balance between being in the safe side and benefiting from the pumps very quickly. The balance should be created.
Keep your long-term investment coins on the wallet and only put them on the exchange when you will trade them. It is too risky to put all you investment on a exchange nowadays.
It depends what is the purpose of your investment, if you are a hodler you should use a wallet, a hardware wallet to be safer, they are easy to use and super reliable, ledger nano is a good one. But if you do not hold any tokens and trade in a regular basis, the best option is to keep your coins in an exchange. The issue with the exchanges is that you never know what could happen with your coins, recently $150 mln worth of Nano was stolen in Bitgrail exchange, no worries there are plenty of exchanges, so sign up in an exchange that is reliable.
Just note that when your coins or tokens are on an exchange, then you will have limited control over it. In the case of hackers targeting the exchange, you might end up losing your coins. You'll be lucky if the exchange has a contingency plan for restoring whatever you lose.
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