Topic: Exchange or Wallet? - page 95. (Read 8741 times)
Your wallet in any exchanger is not advisable to store your bitcoins or any altcoins because exchanger wallet was holding buy the exchanger team so they can freeze or hold or even hack your money in case that something happen to that exchanger.
If you don't own the private key - you don't own the coin, it's as simple as that.
Store in your own wallet, and trade on decentralized exchanges (IDEX, etc - there are a lot more coming out, I believe binance are developing one).
Store in your own wallet, and trade on decentralized exchanges (IDEX, etc - there are a lot more coming out, I believe binance are developing one).
I found it very risky to store your digital currencies in crypto exchanges because this entity is one of the best target by cybercriminals because they know what they can get inside of it.
to store a lot of assets or in the long term prefer in the wallet and private key is more secure if only to trade only exchangers only.
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
Mate if you ask for my opinion I suggest you that wallet is good. because it give freedom and they also want a long term you have full control on your coins. 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
Normally it would be better to keep them in exchange to avoid paying fees every time you want to trade them but unfortunately exchanges are not still completely trustable. Even big exchanges like binance is having problems sometimes. Therefore it’s better to keep them in your own wallet.
I'll go for exchange because it means you are placing your investment in an exchange where good profit is return.
For me, wallet is just a thing were you can put your available balance in your accounts. There's no profit on it if you just keep it in yout wallet.
For me, wallet is just a thing were you can put your available balance in your accounts. There's no profit on it if you just keep it in yout wallet.
Both have its different functionality and connection with each other. In terms of safety you should keep it on your wallet if you also want a long term you have full control on your coins. Exchange is the fast way to sell your coins and after that you still need to keep it on your wallet. So in short, it depends on what are planning to do with you coins, long term investment or short term always trading.
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.If the coin or token has a wallet you should most definitely use it. The downside will be you having to manage another wallet.dat or whatever but that price is small to pay if an exchange gets hacked or goes down
How could you trust your assets to exchanger? Is it not dangerous? I mean if you do not want to sell it yet and have no plan for it why not be stored in the wallet that match your coins? Because the private key would be safer if you own it, not exchanger.
is it dangerous to save or store your all coins in the exchange, I am not sure to store my coins in the exchange is not really safe
but not wrong if you want to save it at exchange for daily trading.
All Long term investment coins should be keep in a wallet. If you are day trading or swing trading then you can keep those in the exchange. The risks with keeping coins in the exchange that don't control the private key. The exchange can lock your account or they can get hack and you will lose all your coins.
If you don't own the private key - you don't own the coin, it's as simple as that.
Store in your own wallet, and trade on decentralized exchanges (IDEX, etc - there are a lot more coming out, I believe binance are developing one).
Store in your own wallet, and trade on decentralized exchanges (IDEX, etc - there are a lot more coming out, I believe binance are developing one).
How could you trust your assets to exchanger? Is it not dangerous? I mean if you do not want to sell it yet and have no plan for it why not be stored in the wallet that match your coins? Because the private key would be safer if you own it, not exchanger.
if you decide to hold a coin, use wallet. If you want to trade your coin or sell them in a short time, use exchange. In somehow, exchange is still better than wallet although it does not have a good security. If you do not want to lose any of your coins in any case, use wallet 
My way is both. Sometimes I want to invest and use my exhanger when I want to buy altcoins. So I have some of my coins in the exhanger continiously. Also I hold another one in the wallet.
If I put more coins in my wallet because I can not trust 100% on the exchanger, because if we keep all the assets on the exchanger and if something happens like MTgox then the asset will disappear, so the exchanger is only used when I want to sell or buy coins as you do.
Just want to suggest to always use your wallet, keeping balance in an exchange is very risky to lose, with you having full control on a wallet then your balance will be much safer than keeping a balance on an exchange.
My way is both. Sometimes I want to invest and use my exhanger when I want to buy altcoins. So I have some of my coins in the exhanger continiously. Also I hold another one in the wallet.
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
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 the best way and safest way for you to avoid a bigger lost if hacking issue occur is to devide your asset into both wallet and exchange. It is simply unavoidable for hacking issue to occur specially when your luck runs out then the best option is to set a way to make your loss lessen to minimum amount.
I am afraid of exchanges, because anyway they have their owner, who can anytime run away with your money.
So my choice is Wallet. And sometimes even cold.
So my choice is Wallet. And sometimes even cold.
iI preffer Wallets to exchange for a sole reason that they are safer than exchange, wallets also gives you control of your coins and ability to verify transactions before completing them
Of course the wallet! You and only you know all the passwords to it never to access, if you follow security at least a little and don't store passwords/keys on a computer. And exchange can be able to crack, steal mail, etc. Many ways at the moment, everything is at your own risk
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