Topic: Hold your keys vs money on exchanges - page 2. (Read 685 times)
If you have an experience or an expert when it comes to exchanges then go with it. But if you want a safer profit better if you are going to hold your coins. But honestly both are just profitable ways and there is no superior to the other. It is just personal preference.
I usually keep my coins on wallet for which I am holding private key , also I avoid coinbase wallet because it is accused of insider trading. Keeping your coins on exchange is not safe as now today hacker are targeting Crypto currency exchanges ,& somehow for any reason the exchange is hacked or closed for some reason (Government notice) than you can lose all your coins. Send your coins to exchange only when you need to trade, after trading send back your coins to your personal wallet.
Just you have to keep on the wallets those coins that you are not going to sell 1-2 years. And on the stock exchanges, keep a small part of the capital for trading. In the case of such corrections or pamps, you could always sell or buy altcoins quickly.
I am more amenable to saving the coin in my personal wallet, because storing it in exchange in my opinion is too risky, although if we are going to sell coin takes a lot of time to transfer from wallet to exchange but it's all for the security of the coin I have.
The veteran people on crypto tend to say that you should keep your coins in your wallet, never on exchages. However if there is a strong downwards movement on a coin and you want to sell to buy latter at a cheaper price it may take quite a bit of time and fees to move it. What is the right strategy?
Some exchanges make it too dificult to move the coins, so I tend to keep them in the exchange. However, I am a bit afraid because it seems that Etherdelta got hacked, coinbase was doing insider trading and ... well too many bad news in the sector.
Hacker is the big problem for us if we hold money in exchange. Keep the asset in exchange make us worry if the exchange got hack from smart hacker.
So thats why people prefer keep in private key wallet rather than in exchange
The veteran people on crypto tend to say that you should keep your coins in your wallet, never on exchages. However if there is a strong downwards movement on a coin and you want to sell to buy latter at a cheaper price it may take quite a bit of time and fees to move it. What is the right strategy?
But how do we know that the price will strong down or just fast correction and go fast high again.
In this position, strong holder deny to sell their coin if the price lower because they have own target for long term.
Spare enough money to buy back in lower price is better strategy.
I almost lost quite some coins with the btc-e.com desaster.
Never ever will I leave coins on a exchange more time than necessary.
Especially when I read about bitgrail and similiar
Never ever will I leave coins on a exchange more time than necessary.
Especially when I read about bitgrail and similiar
The veteran people on crypto tend to say that you should keep your coins in your wallet, never on exchages. However if there is a strong downwards movement on a coin and you want to sell to buy latter at a cheaper price it may take quite a bit of time and fees to move it. What is the right strategy?
For me, im going to sell my coin and buy at the lowest possible value of the coin. Then I will hold till it goes up again. By that , im going to get back the money that I loss when I exchange my coin in low price. Together with the income it bring because of the high rate to exchange.
I think there is a fine balance between how much coins can you leave on an exchange without any fear vs keeping all of it in exchanges. At current rates, anything under 1 BTC is perfectly reasonable imo.
The veteran people on crypto tend to say that you should keep your coins in your wallet, never on exchages. However if there is a strong downwards movement on a coin and you want to sell to buy latter at a cheaper price it may take quite a bit of time and fees to move it. What is the right strategy?
Holding cryptos on a large exchange floor such as Binance, Bittrex, OKEx, etc. to trade is perfectly reasonable if you want to sell the cryptos fastest with high prices. The safest thing to do is to put your wallet with a private key to prevent hackers from appropriating the cryptos at the exchange floors. If you need a quick transaction, the store cryptos on the exchange floor will be the best choice.
The veteran people on crypto tend to say that you should keep your coins in your wallet, never on exchages. However if there is a strong downwards movement on a coin and you want to sell to buy latter at a cheaper price it may take quite a bit of time and fees to move it. What is the right strategy?
I keep a small part of my funds (no more than 20%) at legit exchanges like bittrex, binance, kucoin, gate.io. It's a less risky startegy than if you keep all your money at exchanges + you are able to trade in momentum.
I think it better to hold on wallets, because some exchanges is scam... have sad experience , lose my tokens on exchange coingather! they just stole all money users..
yeah, and if we have many altcoins in our account then we need to find multi wallet so we can move the altcoin and leave the small amount in the exchange just in case if we want to do fast sell. I have a bad experience too with the scam exchange and I don't want it happens again in the future so I need to take care my coin.
Holding a key is best when compared to the exchanges.
I think it better to hold on wallets, because some exchanges is scam... have sad experience , lose my tokens on exchange coingather! they just stole all money users..
yeah, and if we have many altcoins in our account then we need to find multi wallet so we can move the altcoin and leave the small amount in the exchange just in case if we want to do fast sell. I have a bad experience too with the scam exchange and I don't want it happens again in the future so I need to take care my coin.
The fact that it is safer to keep your keys in the wallet, and not on the stock exchange, should be known not only to veterans
If you buy coins for long-term storage, you do not have to worry when coin prices fluctuate. when you decide to keep a coin for several months, then you have to withdraw it from the exchange to your personal wallet.
I think it's good we keep it in the place of exchange if it is there we just stay there when there is a good moment moment for us to sell the coins we have.
I think it better to hold on wallets, because some exchanges is scam... have sad experience , lose my tokens on exchange coingather! they just stole all money users..
Right decession....Hold your private is better.my recommend hardware wallet ledger nano.
I have hold my coins on exchanges so far (big ones like Binance). I tend to trade way more often and having sometimes really bad days, which why I exchanged them to an offline wallet.
Since I'm now holding my coins on the offline wallet, I still look at the price, but are not tempted to instantly trade and regret my decision afterwards.
If you are a good daytrader and have patience sitting on the computer for the whole day, go for the exchange.
If you are impatience like me and want to make long-term profit, then it is just better to hold your coins in your private wallet.
Since I'm now holding my coins on the offline wallet, I still look at the price, but are not tempted to instantly trade and regret my decision afterwards.
If you are a good daytrader and have patience sitting on the computer for the whole day, go for the exchange.
If you are impatience like me and want to make long-term profit, then it is just better to hold your coins in your private wallet.
I think it better to hold on wallets, because some exchanges is scam... have sad experience , lose my tokens on exchange coingather! they just stole all money users..
I would say that it depends on which exchange. I tend to trust some of them more than others based on their country. An exchange in a tax heaven may be too opaque.
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