Exchange or Wallet? - page 88. | Bitcointalksearch.org

Gwyn

full member

Activity: 476

Merit: 100

Quote from: Ray3z on April 02, 2018, 09:56:47 PM

Quote from: nikola22 on April 02, 2018, 05:19:27 PM

Quote from: catsmile on April 01, 2018, 01:41:54 PM

If you intend to keep a long time, I recommend using the hardware wallet or MEW wallet. Keeping altcoins on the exchange is not really safe...If you specify to keep them for about 1 week to trade, lets use exchange's wallet

but what about traders who work with big sums? they don't withdraw money every week and hold on exchanges thousands and hundreds of thousands dollars.

For them whom put money in exchange for big amount, they have been ready for the risk taken.
It can be very risk but comparing with profit i think they know which one is the best for them. Not storing in exchange can be safe but can not buy the altcoin that we expect. Decision is yours.

People who want to make big deals are sure to choose those big platforms, so there will be no problem in the short run. In fact, hacker attacks are not so easy. In the long run, not trading is the safest way to put it in a cold purse.

Ray3z

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Activity: 188

Merit: 10

Quote from: nikola22 on April 02, 2018, 05:19:27 PM

Quote from: catsmile on April 01, 2018, 01:41:54 PM

If you intend to keep a long time, I recommend using the hardware wallet or MEW wallet. Keeping altcoins on the exchange is not really safe...If you specify to keep them for about 1 week to trade, lets use exchange's wallet

but what about traders who work with big sums? they don't withdraw money every week and hold on exchanges thousands and hundreds of thousands dollars.

For them whom put money in exchange for big amount, they have been ready for the risk taken.
It can be very risk but comparing with profit i think they know which one is the best for them. Not storing in exchange can be safe but can not buy the altcoin that we expect. Decision is yours.

kateycoin

full member

Activity: 882

Merit: 104

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

Keep your coins in safe wallet like hard wallet or offline wallet because if you put your coins to exchange it more risky because you will know if the exchange is totally secured.

alttry2019

member

Activity: 106

Merit: 10

Of course of your own wallet. If exchange gets hacked, all your coins will be gone.

spiffcow

full member

Activity: 308

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Both is important. If you long term investor keep your coin in wallet & daily trader keep it on exchange. Binance showing good initiative to stop hacking. According to me it's a reliable exchange.

kingvirtus09

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If you have penny coins there then exchange is a good store of value but if it's big then you can save it on wallet. Depends on how many coins you are hodling. If you have metamask then that's a good choice.

1kings

member

Activity: 187

Merit: 10

Both.

If you're holding, wallet.

If you're trading regularly, exchanges.

huzun

newbie

Activity: 100

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The best way is to store it in your own wallet. Exchanges can get hacked and you do not have full control over it.
wallet more safe then exchanges.

avirdoz

legendary

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Props to keep your crypto at exchange is that you can make fast trading decisions without wasting time on depositing and verifications.
But there is always a risk of losing your assets due to the unseen circumstances, as closing of the exchange or hacker attack.

tatianaellery

newbie

Activity: 28

Merit: 0

I prefer to use some wallet because it is good for long term uses and exchangers are not safe as they can be hacked

dnsokoljuk

member

Activity: 924

Merit: 11

What is your goal? If you want be a long time investor - my advise is: keep your coin's on a cold wallet, like nano ledger S. But if you are active trader - chose exchange and you can trade there with your coin's anytime you want. That is what I thinking

nikola22

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Activity: 1316

Merit: 105

Quote from: catsmile on April 01, 2018, 01:41:54 PM

If you intend to keep a long time, I recommend using the hardware wallet or MEW wallet. Keeping altcoins on the exchange is not really safe...If you specify to keep them for about 1 week to trade, lets use exchange's wallet

but what about traders who work with big sums? they don't withdraw money every week and hold on exchanges thousands and hundreds of thousands dollars.

QuinlanDeclan

newbie

Activity: 124

Merit: 0

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 think both are the good, but I choose wallet because it is secure and easy to use.

btcpara

member

Activity: 182

Merit: 22

If you actively trade with your coins then you should keep them in exchange as it would save you all the fuss about transferring it from your wallet to exchange and vice versa but if you want to just invest in a coin and keep it for long term then you should use wallet as wallets are safer than exchange because exchanges get hacked many a times.

geverciss

full member

Activity: 280

Merit: 100

If your goal is to trade some coins/tokens then an exchange is your best option as you will save on transaction fees. But keep in mind that since you are not holding a private key to the exchange wallet your money can disappear on the spot. Remember the February 2014 when Mt. Gox exchange suddenly suspended trading and closed its website.

catsmile

full member

Activity: 476

Merit: 100

If you intend to keep a long time, I recommend using the hardware wallet or MEW wallet. Keeping altcoins on the exchange is not really safe...If you specify to keep them for about 1 week to trade, lets use exchange's wallet

serejandmyself

hero member

Activity: 1203

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Manager of looking busy #citizencosmos

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

Hey, please remember one key thing: while you hold your coins on exchange - you are not owner of it! Was not Mt.Gox example enough for you guys or you need to loose money first to understand this simple rule to hold money on exchange only for trading needs not HODLING.

MarlonDamon

newbie

Activity: 132

Merit: 0

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 think these wallet are the good :-

1.hardware wallet

2.Waves Wallet

3.MyEtherWallet

4.Daedalus

Humpert

member

Activity: 238

Merit: 10

Some users set a separate purse for each crypto currency (for example, Electrum-Dash or Ethereum Wallet). This approach undoubtedly provides a safe way to store digital currencies, because each of these wallets gives you the opportunity to control the private key. If the latter is stored in a secure place (for example, written on paper and / or stored on a flash device that is always offline), then you can be 100% sure of the safety of digital savings.

Ascredo

member

Activity: 224

Merit: 15

Saving the earned coins is very important, I will keep my coin in the exchanger when I want to sell it, and the safest place to store the coins already earned is in the personal wallet.

Topic: Exchange or Wallet? - page 88. (Read 8741 times)