Exchange or Wallet? - page 82. | Bitcointalksearch.org

Quesdana

member

Activity: 212

Merit: 10

Quote from: Janinjo11 on February 12, 2018, 01:55:57 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 would prefer to keep my coins in wallet because you are the one who are in control. Putting all your coins in an exchange is very risky considering that there might be hacking on the exchange which could result in losing your coins.

Asmonist

sr. member

Activity: 756

Merit: 251

Its better to have both. At least you have kept some in your wallet for easy cash on the go. You can easily convert it to local currency if price changes. Having an exchange is also good for trading. You can hold it anytime just like also in wallet. Maybe they just differ on the control that you can do. Both are reliable on the market price. The wallet is somehow easy to control.

arthurgrand

jr. member

Activity: 182

Merit: 1

It all depends on your motive first, if you are a trader you can't be leaving your tokens in wallets and be transferring them to exchanges every time you want to make a trade. If you are trader then it has to be in exchanges and be sure it's safe enough but if you are a hodler then it has to be wallets

MozAI2

newbie

Activity: 183

Merit: 0

Keep your coins in exchange if your are a trader because it will save the deposit and withdrawal fee so you can get more profits
Keep you coins in wallet if you want to keep your coins securely for long term

ApocalypseNow

full member

Activity: 476

Merit: 100

Always keep it in a seperate wallet. There are many incidents in the pasts where exchanges are hacked or where people believe it was just made up like in Mt. Gox, bitgrail, etherdelta and so on.

RoooooR

legendary

Activity: 1008

Merit: 1000

GigTricks.io | A CRYPTO ECOSYSTEM FOR ON-DEMAND EC

for the side of exchanges if the exchanges that you will be chosen has 2FA and other security measures well that's fine. the worst problem you'll be encountering is when the whole exchange will be compromised, massive hi-jacking of exchanges will be one of them. If you wanna keep it in your wallet well i advise for you to use trezor or nano ledger in order for you to be worry free. Because with that kind of security your wallet won't be accessible without it. Your main problem if you loss that thing, say goodbye to your holdings my friend.

BitcoinCazh

full member

Activity: 532

Merit: 100

no one really really safe your coins when you have much, but better in wallet compare with market, when you wanna doing trading just send your coins in market to do, and with wallet you can do it for recieved payement bounty,wallet is better compare with market exchange

King Bounty

member

Activity: 392

Merit: 10

EndChain - Complete Logistical Solution

I prefer on the wallet, because it is more secure than i store it on Exchange.

malekcap

member

Activity: 195

Merit: 24

if you are a daily trader keep it in your account in the exchange but if you are long term holder or you just want to keep it to use it in daily life so the secure way is to keep it in wallet but just please dont lose your passphrase or password or private key! to keep your funds secure all time Wink

4ernuy

member

Activity: 350

Merit: 10

On exchangers, you can not store your crypto-currencies, they have it clearly in the rules. If something goes missing there with long storage, they will not be held responsible

Victorycoin

hero member

Activity: 1134

Merit: 517

Quote from: asdalani on April 07, 2018, 11:29:47 PM

Quote from: paulus51 on April 07, 2018, 03:41:23 AM

To keep money on the exchange is a silly decision. It is safer to store money in your wallet. It is not necessary to create a large number of them, at least one

It's not always going to be a silly decision to leave coins on an exchange. If he wanted fast trades then he should leave it there.

It becomes a silly decision when we start to take an exchange for a bank, thereby stashing huge amounts in them, instead of the much just enough for our trading and it's even more brainless, when the amount involved is not anything we can afford to lose. It's also no less a silly decision when one fails to see the pitfall in settling for online wallets instead of investing in hardware wallet, especially as their holdings starts to gather weight!

vfrias

member

Activity: 90

Merit: 13

Exchange just to liquidate positions, I would never keep any balance in one exchange. All exchanges one day or another will present troubles, I prefer to not be there when it happens.

BigBos

sr. member

Activity: 1974

Merit: 450

Quote from: Advicerabi on April 07, 2018, 11:55:03 PM

Both are good as they perform different functions. If you want to hold for a long time then definitely you should go for wallets. Keep all coins online is dangerous. Even the most trusted exchanges can be hacked or closed.

well, i also choose both. I currently keep some coins in the wallet, and in the Exchange. in the wallet for my hold, and in the Exchange for my money needs preparation. well, this way I have long used to manage my money.

Chrisjay

newbie

Activity: 107

Merit: 0

For me its more safe if you go to wallet than exchanger wallet..

Advicerabi

member

Activity: 210

Merit: 10

Both are good as they perform different functions. If you want to hold for a long time then definitely you should go for wallets. Keep all coins online is dangerous. Even the most trusted exchanges can be hacked or closed.

moonriver

full member

Activity: 392

Merit: 152

Quote from: assy on April 07, 2018, 11:30:50 PM

I think the wallet is better because the wallet is safer from the peril of hackers, while excessive risk exchanges are more easily hacked, using trusted wallets and complicated passwords are the best option.

I agree with you that wallet is safer, but it is not convenient for frequent traders.
I kept most of my coins in wallet, but a small portion in exchanges. Of course only the reliable exchanges.

Odik_sidik_04

newbie

Activity: 85

Merit: 0

Quote from: blant on February 12, 2018, 02:03:10 PM

Quote from: Janinjo11 on February 12, 2018, 01:55:57 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

The best practice is to keep only those funds on the exchange that you want to day trade or hold on mid-term. For other assets and long-term investments are better to use cold wallets.

yes, I really agree with you, if we have coins or short or medium term investments, can save funds or coins by exchange for trade or also temporarily stored in a wallet, if you already have a wallet. but for the long term, we must keep the funds or coins in the wallet itself, if it does not exist then must create an account to minimize the crime of theft of coins.

ifanxu

newbie

Activity: 140

Merit: 0

exchange sites are preferable to make transactions more rapidly and take advantage of quick fluctuations. Yet from a security viewpoint it A local Wallet is a safer alternative.

assy

jr. member

Activity: 110

Merit: 1

I think the wallet is better because the wallet is safer from the peril of hackers, while excessive risk exchanges are more easily hacked, using trusted wallets and complicated passwords are the best option.

asdalani

hero member

Activity: 882

Merit: 500

CryptoTalk.Org - Get Paid for every Post!

Quote from: paulus51 on April 07, 2018, 03:41:23 AM

To keep money on the exchange is a silly decision. It is safer to store money in your wallet. It is not necessary to create a large number of them, at least one

It's not always going to be a silly decision to leave coins on an exchange. If he wanted fast trades then he should leave it there.

Topic: Exchange or Wallet? - page 82. (Read 8741 times)