Topic: Exchange or Wallet? - page 77. (Read 8741 times)
If you would want to do day trading it is ok to keep you coins in an exchange, since it will be much easier for you ton exchange them in the platform, you can also see how much it went up or down, however exchanges also needs to update their wallet from time to time and there might be instances wherein you cannot sell your coins due to the wallet being suspended, it maybe because of an update in the system or the coin itself, but if you are planning to HODL for a long time and your coin is a POS, I would suggest to use the wallet instead of exchanges, but be sure to secure your wallet at all times and keep updating. Both wallet and exchanges have their pros and cons, it will be up to you which one you will choose for storage.
both of them are beautiful. sometimes the exchange is nicer and sometimes the wallet. because if we need to trade we need exchange.
It all depends on the goals
If the trader is a stock exchange
If the holder - only wallet
If the trader is a stock exchange
If the holder - only wallet
Wallet is a better way to keep your savings - it's just safer(in you do everything right), but if you have coins on exchange - you can trade them any time, that's convenient too. I'd recommend 50%-50% allocation.
Storage of personal keys better BC you don't need to worry that exchange will be cracked, and next day will disappear because you control the safety. An alternative to use of the exchange with the closed keys for you is preservation of control over the closed keys independently and by means of a trading platform.
If you hold your coins in an exchange for long term then they are not your coins. This is rule number 1.
If you don't own your private keys you don't own that money. Just withdraw your coins to a wallet.
Undoubtedly, the wallet is safer than crypto exchanges, but I believe that it is convenient to keep a small part of the funds on the stock exchange. This allows you to very quickly carry out operations buying the coin in exchange rate fluctuations. Of course, it is better to keep funds on large exchanges that pay much attention to security issues. If you don't own your private keys you don't own that money. Just withdraw your coins to a wallet.
I sse some news that their coin are missing and those people who are using exchange wallet. So I suggest better to have your secure your coins the wallet of the coin i think it must secure than exchnges site wallet. But everything is possible to be hack so be careful of what you are clicking maybe they are pishing that can get information to your account.
Of course it is your own wallet. Nothing is safer than putting it in your own hands. Exchanges are often attacked, and losses do not make up for your losses. It is ideal for putting in a secure wallet.
If you hold your coins in an exchange for long term then they are not your coins. This is rule number 1.
If you don't own your private keys you don't own that money. Just withdraw your coins to a wallet.
If you don't own your private keys you don't own that money. Just withdraw your coins to a wallet.
Keep your funds in your wallet always, unless you are buying/selling that same day. This is the safer option for many reasons.
I think it's better to keep the coins in the wallet, because the security uses a private key to open the wallet, only you know the private key. do not put coin on exchange, except trading activity.
dominant in the use of the exchange because I am active in daily trading, I also used to direct the pair with USD for the profit conversion routinely, I still use the wallet for the safe stage only, because I use hardwallet passively for long term, but still I use as saving mandatory as it also supports erc-20
It depends on what you do actually. For me I prefer MEW since it also holds tokens from ICO's.
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, then you probably need to keep them on the exchange to help you do some quick buy and sell. But if you are hodling it then I don't see the need to leave your coin on an exchange. The exchange can go down or be hacked as heard a couple of times and in which case, you lose your money. 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 what you want to do. If you want to trade then obviously an exchange. If you want to hold then wallet is best as you have total control over your assets. You have the keys to access wallet and you can send where you want.Some holders are having problems getting funds released from certain exchangers.
For me I prepare for wallet, you can hold it as long as you want waiting for proper price hike as we all know the volatility behavior of cryptocurrency will do a favor for those people always have patience which is the best asset for this business.
Advantage of keeping your coins in a wallet is safety. But keeping them in an exchange makes you flexible for instant sell and buy opportunities.
Be it Exchange or Wallet, if you are not in custody of your private key to your friend , such fund is as good as lost! If anything happen to platform you are trusting with your coin, those can not be recover. I prefer Wallet that allow me to hold private key to my fund!
Never leave your coins to exchanges unless:
1) you need them for daytrading
2) you have a really small amount of them....
In all other cases it's better and safer storing them on your personal wallet
1) you need them for daytrading
2) you have a really small amount of them....
In all other cases it's better and safer storing them on your personal wallet
Wallet for sure. Exchange is only for trading.
In my opinion, this depends on the future plan. If it's going to be held in the long run, I think being stored in the token / coin wallet would be better. But if the plan will be held in the short term, it would be better if disempan on exchange, at least this will minimize the amount of fee when transfer.
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