How do you trade if you won't leave your coins on exchange - page 10.

Flux0z

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Quote from: VDraci on May 06, 2020, 10:35:07 AM

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?

The answer is VERY simple. Make use of a DEX like the Blocknet DX platform.

You don't need to transfer your coins anywhere, you're in complete control of your own private keys at all times. You can make both buy orders and sell orders without risking your security.

It's THIS easy, yet the vast majority of people refuse to even try it. Cheesy

jhonjhon

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Activity: 1316

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Of course, you can't make a trade to any exchanges if you don't even have a single deposit. And of course, you have to leave it for a while but not in a month or even a week. Why we shouldn't have to leave it there for a very long? Is that because we care about the safety of our money in there. Think that what if that particular exchanger has been scammed? Don't even think that they will give you your money on their site and I don't that we can urge them to give it also.

gabbie2010

sr. member

Activity: 2590

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SOL.BIOKRIPT.COM

I will rather leave my fund in a reputable exchange while trading of course it has to be 50% of my portfolio having hodl the rest fund in my wallet thus less risk.
I will always withdraw huge profits made into wallet as a precautionary measures of course every business is risk anything can happen at anytime, we heard touching stories of exchange hacks.

@baoli

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Activity: 1162

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Base.protocol

It is actually interesting to trade on top exchange with good 2FA and strong password you fund is secured from your end. The rest security is left with the exchange. You can set orders and sell your coin at prices you wish. If you want your coin to be with you then have to look for Dex that sales the coin to trade on.

KaratX

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Activity: 252

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Sovryn - Brings DeFi to Bitcoin

You have to create orders before going to bed and once you wake up your order might be fulfilled, there is no way you won't leave your coins or tokens on an exchange unless you aren't a pro trader or you have no interest in trading at all

JHORN

member

Activity: 252

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Sovryn - Brings DeFi to Bitcoin

The only danger here is leaving your coins on exchanges for long time, when you finish trading, maybe 24Hrs trading you should withdraw your coins and wait for the next day or week you'd feel like trading again

JHORN

member

Activity: 252

Merit: 15

Sovryn - Brings DeFi to Bitcoin

There is no way you won't leave your coins on exchange to trade, that's why we have buy and sell orders on every exchanges, if no one wants to deposit because of fear of hack then you wont be able to buy coins most times,

iv4n

legendary

Activity: 3248

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I have some coins on several exchanges I trust, even if they get hacked I think they will refund us, it's what binance did and that's the example for all other exchanges that wish to be on top! Anyway I have that coins that I use for daily trading, for some signals I catch up, or for some of my own ideas, but when I wish to make some bigger trade I deposit coins and make a trade, when I finish most of the coins go back to wallet, but I always leave some coins to sit there. Call it luck or however you want, but I never had any coins in exchanges that got hacked! Learn to make a difference between reputable and suspicious exchanges!

el kaka22

legendary

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www.Crypto.Games: Multiple coins, multiple games

When people are saying do not leave your money on exchanges they are not trying to say don't do it while trading, how could you trade without having money on your exchange, of course you are going to put it there. The thing is, when you want to trade, just check beforehand and see if you could withdraw, lets say you want to trade with 10k, put in 100 dollars and make some trades and withdraw, after that put all that 10k and make your trades and when your trades are over just withdraw your money and stop. Even if you are a big time trader, just never leave it there when you are not trading.

Put the money in when trading, take it out when not trading, thats the secure method. Is it still dangerous because you could lose all your money while trading and they get hacked at that moment? Sure, but at least its a lesser possibility than just leaving there forever.

isaac_clarke22

sr. member

Activity: 1596

Merit: 264

When it comes to that OP, I just tend to put those funds intended for trading right back in my wallet especially that I heard exchanges getting hacked. Withdrawing it out would be worth rather than leaving it in that exchange. Sometimes i use temporary online wallet like MEW but I don't recommend people to just rely on that as it is still an online wallet in reality, consider using hardware wallet instead.

andycarrol

hero member

Activity: 1106

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Quote from: Krabby on May 07, 2020, 07:10:38 AM

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... Those are the good and safe exchanges you should use

indeed trading in a trusted exchange place can provide security when trading long-term but you also have to install various levels of security in your exchange account, be sure to install google authenticator, phone number verification and email verification, at least there is an effort from yourself for asset security.

Krabby

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https://primedao.eth.link/#/

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... Those are the good and safe exchanges you should use

Gotumoot

sr. member

Activity: 1372

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Quote from: VDraci on May 06, 2020, 10:35:07 AM

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?

I think it is a common sense when they are telling us that we shouldn't leave our crypto on exchange they meant for a long period of time not just for a couple of days or making the exchange as personal wallet.
Of course if you are aiming for something big then wait for the price to be near your goal before sending it to the exchange as you mention if the BTC is trading at $8,000 and you don't want your BTC to be held by exchange and your target is $9,000 then wait till the price is near your target before putting it on exchange.

YOSHIE

legendary

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Quote from: VDraci on May 06, 2020, 10:35:07 AM

Now for those saying 'don't leave your coins on exchanges' how do you trade?

It seems that it is often done by traders in the trade they trade is called "order", without leaving coins in the trading market.
For example:
Today you buy Bitcoin at a price of $ 8000, if you are busy people do not have time to open the exchange site, maybe you can open 3 or once a week, you can order a Bitcoin price for example $ 10,000, without coins being stored on the exchange, when you open the exchange site if Bitcoin breaks for $ 10,000 you have no Bitcoin stored that has become fiat money, orders.

FireBallex

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Market goes up and down at any time so I don't see how you won't leave your coin on exchange, if you are real trader you will always have coins on exchange, most especially when market is greenish

tvplus006

legendary

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To the Moon

Quote from: VDraci on May 06, 2020, 10:35:07 AM

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? ...

It is very good to Wake up in the morning and see that you have received a profit from the sale of bitcoin. But it may turn out that you sold bitcoin at night for $9 thousand, and in the morning the price of BTC is already $ 10,000. Therefore, you need to constantly be in the market and analyze to what level the price of BTC can change in order to make the right decision.

FOPL

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If you are an active trader then you most of the time you need to have your funds on a highly secured exchange. However, some of us do not trade much often and there is no need to have our funds lying idle on an exchange. Mid to long term holders are always advised to keep their own funds.

In the case where you would want to do some quick trades, there are other ways you could achieve it. For instance, you can use changeNOW.io to swap or buy crypto without creating an account and no maximum limit. Alternatively, Atomic Wallet has an inbuilt exchange you can make use of. You exchange your coins without leaving your wallet which you have access to your private keys. Hardware wallets are also there provided you can afford one.

Aaroenz0r

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Option Blitz

Quote from: VDraci on May 06, 2020, 10:35:07 AM

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?

You misunderstood the meaning of the phrase 'don't leave your coins on exchanges'. This is a saying about capital management in a smart and sophisticated way. In this crypto market, most of them are fraudulent exchanges. when you deposit all the money into an exchange it gets into security problems and hackers steal all the money. So will they refund you? No, They will abandon you and dont care about your lost money.. That is why you should divide capital in many different exchanges, when having trouble you will not lose everything. Wink

SyndicateLabs

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PredX - AI-Powered Prediction Market

Exchanges are now safe enough for you to leave your money there and trade. As long as you never leave money on exchanges too long, and also always choose top exchanges like Binance, Okex ... to trade. These are the best and safest exchanges in this market

shoreno

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there are wallets that has a built in exchanger where you can trade them just like what you do on an actual crypto exchange the only difference is the fee and there is no automation on it . if you dont store your coin on the exchange you cant be call a trader but you can be an investor instead but like what you have said , what if you are sleeping by the time the price pump ? i guess trading on an exchange is still the best but we just make sure that we are using a high quality exchange

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