Topic: Exchange or Wallet? - page 84. (Read 8741 times)
I rather to pick Exchange here.. coz some pump and dump group will give you a big profit if you just raise your target price. But ofcourse it's not recommended by many coz there's a hacking incident before so better to keep your precious coin in your hardware wallet or web wallet.
Wallet will always work for me, exchange is way too vulnerable and prone to hacks, wallets also give you total control of your coins and the security of your investment is all on you
If I need to store my coins for a long term I usually use wallets But in most cases I just deposit coins to exchanges, set a sell order at a needed price and set an alarm in Blockfolio. Though it less safe, but in case of sudden pump you can miss it if you hold your coins in a wallet. So I would say that my portfolio is spread like: 20% in wallets and 80% on exchanges.
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 only use the wallet because it is secure the coins and it is easy to use without hardworking and 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
Wallet. The safest way to hold Cryptos..
A wallet is what I use. There is no reason for me to use an exchange because they can shut down at anytime. 
Exchanges are not safe, they can be hacked or scammed and they don't give you private keys to recover you funds. You better save each coin in its wallet and keep your private keys safe.
Well personally i prefer holding my coins in the exchange wallet because it is much more easier to reach if you have to make quick sell or quick buy. Also if you keep it your wallet you have to pay a fee every time you want to use it on a trade. So exchange is very practical and easy if you are sure it’s a trustworthy exchange.
I think it's better to keep the coins in my wallet, I feel more relaxed. own wallet is more reliable
If here we are talking about where to store your money, then of course you need to make a conclusion in favor of cold wallets, and it is better to make a choice in favor of hardware wallets.
In my own opinion I will advice to keep/store your cryptocurrencies in an external wallet. That's if you can afford the external wallet and the transfer fee.
My opinion is this:
For short-term positions (from weeks to several months), it is quite normal to use the exchange. It is important only that it is a large famous exchange. I, for example, when practicing trading, worked for Bittrex and Poloniex.
If it is a long-term holding , then it is better to use individual wallets. Coins will certainly not be so mobile for immediate sale, but it will be protected to a much greater extent.
For short-term positions (from weeks to several months), it is quite normal to use the exchange. It is important only that it is a large famous exchange. I, for example, when practicing trading, worked for Bittrex and Poloniex.
If it is a long-term holding , then it is better to use individual wallets. Coins will certainly not be so mobile for immediate sale, but it will be protected to a much greater extent.
the question is whether you want to trade or want to invest in saving coins? because if you want to trade then you can save on the exchange but with a nominal not too big because it is very vulnerable if one day the exchange is hacked then your assets will be lost. but if you want to keep the coin and invest long term then I strongly advise you to keep it in the wallet, I like the wallet software but it is very vulnerable to hack. if you want to keep coins with large quantity then I suggest you to save in hardware wallet like ledger s nano.
I read somewhere that best practice is, don't hold more than 2000$ worht token on exchange platform, above 2000$ put some of them on your wallet it will be safer, don't forget crypto exchange platform are the fisrt target of hacker
Do not keep money on the exchange - it's very dangerous. The exchange can be hacked at any time. I think it's safer to use a wallet. Especially safe are hardware wallets.
All right, for the beginning lets divide actions with your portfolio by category.
You can buy some crypto which is really cool in your opinion and you decided to buy it depending on your own research because you think that this currency will be much more expensive in some years.
Or you can buy some alts because you think that upcoming news that were announced will make it rise in short term.
In first case it is better to hold your assets on the wallet which is under your control and only you are responsible for it's private phrase security. In the second one - exchanges are that type of instrument to work in such situation.
So decide which strategy you will accept and make decision on your strategy, thats it
You can buy some crypto which is really cool in your opinion and you decided to buy it depending on your own research because you think that this currency will be much more expensive in some years.
Or you can buy some alts because you think that upcoming news that were announced will make it rise in short term.
In first case it is better to hold your assets on the wallet which is under your control and only you are responsible for it's private phrase security. In the second one - exchanges are that type of instrument to work in such situation.
So decide which strategy you will accept and make decision on your strategy, thats it
I think it's better to keep it in the wallet. we will not know how the future of an exchange is. it's safer if we keep our assets in the wallet.
Wallet. The safest way to hold Cryptos..
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 you better make your own wallet because all the controls are in your hands and the most important thing is the security is more awake because I see there is one case that terbobolnya one exchanger and honestly it makes me more worried and would rather make a personal wallet 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
divide part of your coins in split exchange wallet, i think keeping your coins in exchange is security then you personal wallet. because they are professional.
Look. If yoo wanna do day traiding with whole your budget keep it on exchange and work. If you dont do this and just buy coins and holding it of course better is hard wallet or split it. Its even better
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