to keep on wallet as service might gives with the release of drawing as informing movement with the price on exchange and more to request with plan on distribution to enter with the field of arbitrage trading to collects with spare of revenues.
Topic: How do you trade if you won't leave your coins on exchange (Read 2310 times)
Yes that is right. But the main point is do not leave your coins on exchange for a very long term. It is safer in your personal wallet. You can keep monitoring your money by yourself. The risk is very small too
I mean what do you even mean by that. It's like asking how can you do a workout without doing any movement. The long and short answer to this is you need to move your funds to exchanges to be able to trade, there is no other way of doing it. Just avoid the smallest and worst exchanges and you'll be good.
There were suggestions about not keeping of your funds to exchanges and sometimes others are comprehending it as is. Not realizing that when they have to trade, they still have to move funds in and out of the exchange. It's not about keeping but moving funds and using it for trading and not treating it as your cold wallet.
It is what they mean.
it is better to keep your coins in your private wallet, at least there you control your private keys unlike exchanges, but for traders it is very difficult for them to keep all coins in their wallet as best they can. What they can do is keep their exchange account secure with Google Authenticator, as well as keep their passwords secure.
Generally a trader, sends assets to the exchange for a short time or depending on market movements. After finishing trading you can then complete the transaction and transfer the capital back to your personal wallet. This is a common way traders do without leaving coins on the exchange.
We are told several times on this forum never to leave your coins on exchange, well I know the difference about low rated exchanges and high rated exchanges and I know that many traders prefer high rated exchanges for trading because of volume and Liquidity but my point is there is no way to be a trader without your coins sleeping in exchange wallets, why? Because sometimes while you are asleep bitcoin can hit a new price target.
For example BTC is trading at 8000$ and I put up a sell order at 9000$, most times this won't happen in an instant, sometimes you wake up the next day and your order became successful isn't it? Now for those saying 'don't leave your coins on exchanges' how do you trade?
in fact, you have misinterpreted the main idea they want to convey. When many exchanges are hacked and some are scams, they find a way to help us lose less if we run into bad luck.For example BTC is trading at 8000$ and I put up a sell order at 9000$, most times this won't happen in an instant, sometimes you wake up the next day and your order became successful isn't it? Now for those saying 'don't leave your coins on exchanges' how do you trade?
Their main idea is not to put all eggs in the same basket. Because when something goes wrong, you lose everything. Instead of putting all the money in one exchange, you should divide it equally among many different reputable exchanges. When exchanges go bust or hacked, we still have money on other exchanges.
We are told several times on this forum never to leave your coins on exchange, well I know the difference about low rated exchanges and high rated exchanges and I know that many traders prefer high rated exchanges for trading because of volume and Liquidity but my point is there is no way to be a trader without your coins sleeping in exchange wallets, why? Because sometimes while you are asleep bitcoin can hit a new price target.
For example BTC is trading at 8000$ and I put up a sell order at 9000$, most times this won't happen in an instant, sometimes you wake up the next day and your order became successful isn't it? Now for those saying 'don't leave your coins on exchanges' how do you trade?
For example BTC is trading at 8000$ and I put up a sell order at 9000$, most times this won't happen in an instant, sometimes you wake up the next day and your order became successful isn't it? Now for those saying 'don't leave your coins on exchanges' how do you trade?
For me, its normal no put your funds in exchange for maybe a little bit of time because you could trade and invest in an exchanger. But your still gonna need to have a secure wallet to store your investment for the long term something like a hardware wallet. Or probably wallet just for popular cryptocurrencies like Bitcoin, Ethereum, and other popular altcoins. When you observe some of the exchanges are either getting hack and also closing because it just cannot handle the market when it drops so you don't want to put your funds in exchanges for the long term.
It depends on the user as for me I'm currently doing a long term trade so what I do instead of letting it sleep on my exchange wallet i let it sleep on my ledger to assure that my coins is safe. In regards with other user I think they trusted the site on where they are sitting their coins since there's no other choice but to let it stay on it.
right. as traders we must know how to keep your money safe. I mean after trading on any exchange, not to leave your coins on the exchange. use it as a necessity, when it is finished then withdraw your assets to your personal wallet and not leave it in the exchange.
It's kind of a pity. If you want to be able to react as quickly as possible on a news a rumor to sell or buy your coins then you have to basically keep them on the exchange.
It just takes to long most of the time to send them from your wallet to the exchange because you need a certain amount of confirmations.
If you have them at the exchange though you have the risk of losing all your coins.. just look at the kucoin hack.
It just takes to long most of the time to send them from your wallet to the exchange because you need a certain amount of confirmations.
If you have them at the exchange though you have the risk of losing all your coins.. just look at the kucoin hack.
Of course, most people will put their coins on exchanges and make transactions. However for some people with large capital and they do trading in the medium term. They can keep their money in their wallet, by the time they evaluate the market will be volatile, then they will send money to the exchange, and as soon as the transaction is done they withdraw their money immediately.
Or if they want to store their coins for a lil bit long just use top exchanges with insurance like BNB or coinbase. If anything happens to the exchange, hacking attack or internal error, they will compensate you because users are entitled to their insurance. But for other exchanges without insurance, be careful in using them. Secure your funds in your own wallet.
We are told several times on this forum never to leave your coins on exchange, well I know the difference about low rated exchanges and high rated exchanges and I know that many traders prefer high rated exchanges for trading because of volume and Liquidity but my point is there is no way to be a trader without your coins sleeping in exchange wallets, why? Because sometimes while you are asleep bitcoin can hit a new price target.
For example BTC is trading at 8000$ and I put up a sell order at 9000$, most times this won't happen in an instant, sometimes you wake up the next day and your order became successful isn't it? Now for those saying 'don't leave your coins on exchanges' how do you trade?
For example BTC is trading at 8000$ and I put up a sell order at 9000$, most times this won't happen in an instant, sometimes you wake up the next day and your order became successful isn't it? Now for those saying 'don't leave your coins on exchanges' how do you trade?
Its true that its risky but at least its safer to have it in your own wallet when you are not trading it or just create a time frame in when you are gonna sell then just remove your coins afterwards. These transaction fees are normal to get high or low and that depends on the Cryptocurrency we are using as gas.
Of course, most people will put their coins on exchanges and make transactions. However for some people with large capital and they do trading in the medium term. They can keep their money in their wallet, by the time they evaluate the market will be volatile, then they will send money to the exchange, and as soon as the transaction is done they withdraw their money immediately.
I think the idea is to not store coins on exchanges for a long period, exchanges should be for trading only. I usually store my funds in my wallet and make use of changenow.io each time i want to make exchange.
For me trade means so many things like day trading, short time trade or long term trade. If you want to invest in any coin, you have to trade on any exchange. To buy coins or long term trade, you should withdraw your altcoins. To others you have to leave your money in exchange. Nowadays trading isn't position in decentralize exchange, when 200 million was hacked from Kucoin exchange.
yes, If you want to trade, then you need to leave money at the exchange. That is the only way I know it and I still use it at the present time. If you are afraid of being hacked, you should choose large exchanges in this market to be more secure, Binance, Kucoin, Huobi,Okex....Those are the good and safe exchanges you should use
Yes, that's right and don't forget to also add extra security like google 2fa to each of our exchange accounts, this also helps us directly to safeguard our assets or money that are already in the exchange.Just recently happened that KuCoin was hacked, adding more securities under your account is good but if the site/exchange itself encounter the hacked there's no way for you to do anything.
Hackers are everywhere, even you do everything to protect your assets they are capable to breakout and sucked everything inside your wallet.
If it's still possible that each time you've finished dealing with the exchange,
sending out your coin inside your own wallet is far safer than anything else.
my advice,of Don't leave your assets in exchange means that don't store it there for a long time without doing anything or making any trades. If you want your assets to be in a safe place rather have them in your personal wallet than leaving it any exchange that are prone to any kind of attacks.
yes, If you want to trade, then you need to leave money at the exchange. That is the only way I know it and I still use it at the present time. If you are afraid of being hacked, you should choose large exchanges in this market to be more secure, Binance, Kucoin, Huobi,Okex....Those are the good and safe exchanges you should use
Yes, that's right and don't forget to also add extra security like google 2fa to each of our exchange accounts, this also helps us directly to safeguard our assets or money that are already in the exchange.
yes, If you want to trade, then you need to leave money at the exchange. That is the only way I know it and I still use it at the present time. If you are afraid of being hacked, you should choose large exchanges in this market to be more secure, Binance, Kucoin, Huobi,Okex....Those are the good and safe exchanges you should use
I guess you think it literally. I mean though they say that you mustn't use the exchanges as your storage or don't leave your funds on exchanges it doesn't mean you were literally pulling out all of your funds because if you really going to do that then the withdrawal fee will most likely drain you. What they want to tell is that you might only pull out the profit while your invested fund will stay in there as an emergency fund in case you want to buy something.
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