Topic: Exchange or Wallet? - page 83. (Read 8741 times)
Wallets are far better than exchanges. It will be very rare for someone to be targeting a wallet to hack it, but exchanges are always targeted at every moment because it contains a lot of savings. The only advantage of leaving it on an exchange is the ability to trade faster.
On stock exchanges, you only need to store the amount that you trade daily, because exchanges are not the safest place to store.
The best choice is to keep them in your own wallet which you have the private keys to. Keeping it on an exchange is quite risky because the exchange can be hacked and you will lose everything you have on it.
If you visit myetherwallet, it didn't recomment using private keys too, better have ledger or trezor to have the security we much needed in a wallet.
The best choice is to keep them in your own wallet which you have the private keys to. Keeping it on an exchange is quite risky because the exchange can be hacked and you will lose everything you have on it.
There are some basic differences first of all if you want to trade with your coin then obviously you need to put it on any exchange. Though some Wallet provides the exchange facilities but the are charging much more than the exchanges.
Next thing is the KYC, in the exchange websites you need to fill the KYC form but you can store in wallet without any KYC.
Next thing is the KYC, in the exchange websites you need to fill the KYC form but you can store in wallet without any KYC.
Firstly, I think my all coins are safe in my wallet, but now it's totally opposite for me. The reason behind it was a robbery of $5000 for my ETH wallet. Yeah some hackers hack my ETH wallet without Private key and transfer high value coins. Now wallets are also not safe, so Exchange is best for coins now! I don't know how they hacked it, but i have doubt on scam airdrops and bounty which i usally like to fill!
It depends on you.what you want.If you want to trade exchange is a better option always.But if you want to hold wallet(official or whatever) is better than exchange.you could choose exchange for long-term hold but there is some problem.Many exchanges had a bad history of being hacked or API problem ban profile like this.So long term hold is better on wallet.but if you cant manage many wallets then chose a great exchange and stick to that.But don't put all of you money in one exchange 
I prefer wallet, but exchange is much more comfortable. But everything depends on what you want to achieve, what you want to do, everything ultimately depends on yourself.
Of course the wallet. Your own wallet is the best choice. Exchange is unreliable. For example Mt. Gox. Mistakes should not be repeated.
If you asking this question quick answer would be - wallet is better(safety, only you own your tokens)
But if we compare those 2 choices:
-Wallet(s) is for long term investment(most of the deposit)
-Exchanges and hot wallets(online or mobile) is for the quick access to the tokens. For example if you are day trader and you need big part of you deposit to be in the pending orders.
But if we compare those 2 choices:
-Wallet(s) is for long term investment(most of the deposit)
-Exchanges and hot wallets(online or mobile) is for the quick access to the tokens. For example if you are day trader and you need big part of you deposit to be in the pending orders.
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 both are good but I choose the Exchange because it is more reliable. 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 its safe to keep store coins in a wallet. Exchange can be hack at anytime for instance we have heard about exchanges been hacked over the years but if you store your coin in a wallet which you have the private key and you did not expose then you are safe.
I think it is better to store your coins in a wallet. Once a trading platform is hacked say goodbye to your coins. Though having your coins in an exchange is quite advantageous too, let's say the price of the coin suddenly went up, you can easily trade it. Having it in your wallet, it will need quite some time to be confirmed and during this time price might have already dropped.
If you're in with holding the coin for a long time, store it in a wallet.
Exchange like Bittrex, Poloniex, Bitfinex, Binance, etc. and other trusted exchanges are the exchange will refunds for investor if they got hacked from attack by hacker. If you're in with holding the coin for a long time, store it in a wallet.
Coincheck is a new exchange in Japan, although 500 million dollars of NEM stolen by hacker in this year, but they still refunds all that amount for those who used their system lost that amount.
Definitely a Wallet of course. Exchange-hosted wallet which we will automatically get after opening an exchange account, do not let you to have any control of your public and private keys to that wallet.
Wallets are definitely the better option because an exchange can get hacked at anytime which means that you lose your coins in the case of a hack but with a wallet your coins are much safer with you as long as you protect it.
Its a two different things for different purposes, if you want to trade then you better use exchanger but I recommend that never hold a coins for a long term in exchanger, better save it in your wallet.
all always depends on the purpose of short or long term investment and if I buy or sell coin for a short period of time, I`ll store on the exchange site and not withdraw money to save fee.
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
To keep your coins secure put it into your wallet and exchange whenever you want to,or whenever it it is needed but if you put it into exchange there's a chance to be hack and goodbye coins-goodbye profit so you better put it in there and secure all your wallet do everything not to steal it
I think it is better to store your coins in a wallet. Once a trading platform is hacked say goodbye to your coins. Though having your coins in an exchange is quite advantageous too, let's say the price of the coin suddenly went up, you can easily trade it. Having it in your wallet, it will need quite some time to be confirmed and during this time price might have already dropped.
If you're in with holding the coin for a long time, store it in a wallet.
If you're in with holding the coin for a long time, store it in a wallet.
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