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?
The strategy depends on how much you want to trade or hold your coins for longer terms. coins for long term storage should be stored off exchanges. 
Topic: Hold your keys vs money on exchanges - page 4. (Read 685 times)
It depends on what you want to do, it seems that you want to be a trader you have no choice but to put your money in exchange, the cost is so high that it is no longer possible to make some trades and then withdraw your money but you have to accept those risks .
Diversity. I keep some of my trading stash on exchanges. Majority of my coins are on the hardware wallets.
I spread my coins on two hardware wallets and in the future if I get more valuable coins I will spread more.
I spread my coins on two hardware wallets and in the future if I get more valuable coins I will spread more.
My strategy is keep most of my coins on my hardware wallet or appropriate wallets for those altcoins while I remain a very little amount of coins in exchanges that's good for trading. And that amount is only affordable to lose so if ever something happens to the exchange that will not give me too much pain. The fee now isn't a problem, its worth paying for the security for your crypto assets.
The safest place to have your coins is in a private key. This is something that only you can access and have full control over. Having your coins on an exchange means that you are relying on someone else to keep them safe for you, which means you no longer have full control. Only keep what you need for ease of trading on an exchange, long term holds should be stored on a private and secure key.
It was manually applicable if your money or coins is physically, but since bitcoin is a technologically currencies the safest way is put it on the exchange. Because using exchange they can easily earn money or crypto currencies because you put it as investment.
The safest place to have your coins is in a private key. This is something that only you can access and have full control over. Having your coins on an exchange means that you are relying on someone else to keep them safe for you, which means you no longer have full control. Only keep what you need for ease of trading on an exchange, long term holds should be stored on a private and secure key.
Hold your keys always. It's fine to keep coin on an exchange for a quick sell but wouldn't keep coins on there long term.
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 wouldn't hold your entire portfolio on the exchange. Even if you like to trade regularly - you don't need 100% of assets on any given exchange. If you make say 25% on a trade, I know it's tempting lump all that profit into the next trade. Instead, maybe look at transferring 50% of any profits into a hard wallet.
All $ 425M stolen by NEM in a hacker attack on Coincheck will be returned to investors
https://www.newsbtc.com/2018/01/28/coincheck-announce-customer-refund/
This is great news, while I was not affected directly by this it is nice to hear from a business owning up their mistakes, now lets hope they improve their security and that this never happens again, but I think this may end up being something good for them, this creates good publicity for them since it shows they are honest and not everything is about getting profit for them.https://www.newsbtc.com/2018/01/28/coincheck-announce-customer-refund/
I too follow up this and today they have the send the amount for 90 percent people already. I really about the these kind of hacks make the investors fear on crypto trading and holding as well.
I expect that coins are secured in the online wallet as well like how the private key secured makes the people happy.
For op, I can see that holding would be the best move than investing on the exchanges.
All $ 425M stolen by NEM in a hacker attack on Coincheck will be returned to investors
https://www.newsbtc.com/2018/01/28/coincheck-announce-customer-refund/
This is great news, while I was not affected directly by this it is nice to hear from a business owning up their mistakes, now lets hope they improve their security and that this never happens again, but I think this may end up being something good for them, this creates good publicity for them since it shows they are honest and not everything is about getting profit for them. https://www.newsbtc.com/2018/01/28/coincheck-announce-customer-refund/
I prefer holding my keys than money on exchanges. Holding my own keys is much better than money on exchange because we don't know what will happen if you exchange. If i hold my keys i know if it is the right time to exchange it but if you do money on exchange you don't know if good or it scam. And lastly, don't share any information about your account, and don't trust unknown people.
All $ 425M stolen by NEM in a hacker attack on Coincheck will be returned to investors
https://www.newsbtc.com/2018/01/28/coincheck-announce-customer-refund/
https://www.newsbtc.com/2018/01/28/coincheck-announce-customer-refund/
As usually i do, half hold half trade. If I hold all, i will not have funds for every day. Because I was not working. But like a veteran says, still watching at exchange rates in the market. Don't be reckless to trade it.
It depends on your budget. The smaller amount you have, more you spend on comissions sending crypto. If you have a big budget, I strongly recommend you to keep money in a cold wallet, as your Mew or exchange wallet could be easily compromised
Hi,
Its better to hold your keys than you storing in the exchange.........
Its better to hold your keys than you storing in the 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?
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.
Well, all of your point is true. So many issues in exchanger so we are in forced to choose the right and reputable one.
However, our worry is always come into mind so better leave money in exchanger only the amount that we use for trading and no more.
Cold storsge should be private keys and print it out. Exchange is what you can afford to lose. I could list the now defunct exchanges: mtgox, btce, vircurex, crypsy, and dozens more.
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?
They are both correct. However, if you are trading and not planning to hold coins for longer term, you should keep it on your wallet. May be the best way is to leave some of your coins in the exchanges when the market is in downtrend so you can decide to sell them and buy at a more cheaper price.
imo, bitcoin is the only coin that is slow to transact and used to take more fee (that has also come down to a few cents recently). All other cryptos are enough fast and get mined soon enough that you get confirmations easily and there is not much fee involved in other cryptos. So its a better idea to keep your coins in a wallet and in a wallet that gives you the private key to your address.
Else there are cases like cryptsy that can resurface anyway and everyday. We have seen websites running away with people's money on a regular basis so its better to keep the coins with you rather than in exchanges.
Else there are cases like cryptsy that can resurface anyway and everyday. We have seen websites running away with people's money on a regular basis so its better to keep the coins with you rather than in exchanges.
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