Topic: Hold your keys vs money on exchanges - page 6. (Read 685 times)
I think that if you bought a coin for long-term storage, you do not need to worry when the coin's price fluctuates. If you decide to keep the coin for several months, then you must withdraw it from the exchange to the personal wallet. To carry out daily trades you can keep some money on the exchange account.
Yes, I agree with all expert opinions . Always hold your keys and do not store you tokens on an exchange. I use ledger nano , easy to use.
in my planning, i want save my coins still in wallet, i send my coin to exchanger only if i want trade
because with that way, i can choose the exchanger with the highest price
because with that way, i can choose the exchanger with the highest price
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?
It is safer to store coins in purses and not on the exchange, as for the strong movement, if the exchange rate is good, you can use ETHERDELTA or BINANCE, the transactions pass very quickly, if everything is decided not by seconds, then these are ideal options if the movement is so fleeting that in a few minutes it can dramatically change direction, it's probably a very risky coin
The best strategy for me would be, hold them in your wallet and not in exchanges because there's a bit of chance that the exchanges your using maybe hacked. It's safer but if you're in a rush just put a bigger fee in the gas and put them in the exchange then trade, after trading withdraw it to your wallet immediately
I prefer to hold my coins in a desktop or paper wallet sometimes I leave them on exchanges but only if I am trading them currently.
I'd hate see my balance disappear due to another MT Gox
I'd hate see my balance disappear due to another MT Gox
But how do you deal with market dips or even the chance of getting your passwords stolen? I am not so sure that an exchange is less safe than my own computer (with and intel processor).
I prefer to hold my coins in a desktop or paper wallet sometimes I leave them on exchanges but only if I am trading them currently.
I'd hate see my balance disappear due to another MT Gox
I'd hate see my balance disappear due to another MT Gox
Hold your own private key most safe.
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?
its better to put it in a wallet and not in exchanges wallet,cause once that exchange platform goes to scam say goodbye to all your coins. If you want to sell then transfer it immediately to exchanges, it will not take an hour to transfer your coins. There are only a few decentralized exchanges that give the right to keep your coins in your wallet. All other trading platforms are arranged so that you give the money to the stock exchange
That will change in the near future. There are a lot of projects that mitigate that problem with their decentralized ideas. It's also well past time that this happens, as there are also a lot of shady exchanges around (not only the new ones).
There are only a few decentralized exchanges that give the right to keep your coins in your wallet. All other trading platforms are arranged so that you give the money to the stock exchange
The safest place to ever hold your own money is in your own wallet, regardless of the medium which is being stored. By giving any other party access to your assets, you are putting those valuables at risk, as there is now an element of trust in this third party that may be compromised down the road. Yes, the exchange process may be a little slower, but the fact that the coins are safe when not being traded, makes it ideal to hold your own key.
I think it's better to keep it on your wallet for security reasons, so how much is in the cryptographic world of scammers
Иди нaxep co cвoими пpичинaми
Well, i think that it depends on your bahaviors toward crypto currencies.
1. Holder => wait for better (much higher) price then sell
- you can be a position trader
- take expected coins from markets or ICOs and transfer them back to your own wallet
- Take profit at some time in not-near future (maybe months, sometimes years)
2. Traders: your choice of scalper, day trader & swing trader
- For scalper & day trader, i dont think you will have chances to transfer back & forth coins between coin wallets (like ETH, WAVES) & exchange wallets => it will cost you a huge transmission fee
- For swing trader: yes you can because you properly take trades some days or some weeks
But again be cautious of transmission fee
Hope it help :-)
1. Holder => wait for better (much higher) price then sell
- you can be a position trader
- take expected coins from markets or ICOs and transfer them back to your own wallet
- Take profit at some time in not-near future (maybe months, sometimes years)
2. Traders: your choice of scalper, day trader & swing trader
- For scalper & day trader, i dont think you will have chances to transfer back & forth coins between coin wallets (like ETH, WAVES) & exchange wallets => it will cost you a huge transmission fee
- For swing trader: yes you can because you properly take trades some days or some weeks
But again be cautious of transmission fee
Hope it help :-)
I think it's better to keep it on your wallet for security reasons, so how much is in the cryptographic world of scammers
Nothing beats having control over your private keys, helps you sleep at night.
Just make sure you have a feel for the trend of whichever coin your trading, and have the coins on the exchange accordingly.
I think it's better to keep it on your wallet for security reasons, so how much is in the cryptographic world of scammers
I believe that all money should be kept in different places. Plus, if the money is on the stock exchange, you can make trades on the exchange, minus that nobody will give you 100% security of money. the money in the wallet minus not during the production of trading on the exchange, plus that your money is less susceptible to theft.
Advantages of holding coins on exchanges:
- Possibility to make order for sell/buy
- Chance to get forks
Disadvantages:
- Possible scam of any exchange
- Possibility to make order for sell/buy
- Chance to get forks
Disadvantages:
- Possible scam of any 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?
I think it is better to hold our coin in our wallet than on exchange because we never know what will happen in the exchange. I still save the big amount for every coin that I have in my desktop wallet and I only send it to the exchange if I want to sell or I want to trade in one day. but I admitted that I still have another coin that I take on the exchange just in case I want to do a fast trade so I don't have wait too long for sending the coin to the exchange.
I use the coinbase wallet since I cannot use an offline wallet because I find it so difficult to manage because I didno thave my own laptop.or CPU to download it.
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