How do you trade if you won't leave your coins on exchange - page 3.

gwapoinside2

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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?

Somewhat we have similar strategy in trading. Putting sell and buy orders wat above and below the peaks. I gain a lot of XRP butting way way below its buying price and twice I have bought with it. That was a very big discount and my holding has tremendously increased.

I also have some of my crypto in exchanges. This saves me some transaction fees than transferring cryptos to wallet to exchanges.

WannaCry

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mostly of the traders leave their coin in an exchange where they trust.. it may save the transaction fee and time also.. as you mention that bitcoin price may hit a new price target while you're away..

Phoenix_PROG

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I was trying to sell my ESH tokens on bilaxy exchange and my order isn't filled yet and it's been over 22 hours already, trading some times is a waiting game, you can't predict when your order will be met or fulfilled

amrulshare

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Quote from: Genemind on August 11, 2020, 02:05:49 AM

It depends on how big the fund are we talking to. Are you comfortable leaving $10k in an exchange? If no, don't leave it there. Just how many cases had there been of trading accounts being hacked without the knowledge of the user, or platforms being hacked and losing all the stored crypto. If you can risk your fund just to avoid the inconvenience of transferring and securing it at your own wallet after trading, feel free to do so.

Maybe for some reason it is true, but nowadays some large exchange markets for example Binance add features such as staking that allow one person to earn certain income and other exchangers follow this trend. I personally only move my assets if only to exchange them to Fiat for life necessities.

Scotslass

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Quote from: affandi on August 09, 2020, 01:44:13 PM

These words are just to warn us not to keep assets in the exchange wallet for too long without trading, because of the risk of hacking or other things, especially large amounts. better keep it in your personal wallet. there is no trading without making a deposit (it sounds ridiculous), and the most important thing is to choose an exchange that has clear credibility and strong security.

Its one of the most important crypto trading rules - do not hold funds on exchange account, no matter how secured the service is.
I'd say its mostly not worth it to hold there for more than hours, you definitely can find multi currency wallet to trade with it safely

Genemind

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It depends on how big the fund are we talking to. Are you comfortable leaving $10k in an exchange? If no, don't leave it there. Just how many cases had there been of trading accounts being hacked without the knowledge of the user, or platforms being hacked and losing all the stored crypto. If you can risk your fund just to avoid the inconvenience of transferring and securing it at your own wallet after trading, feel free to do so.

lienfaye

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Quote from: suryana on August 11, 2020, 12:49:43 AM

Quote from: MUG1WARA on August 10, 2020, 11:57:22 PM

yes, you are right because in the past security was very vulnerable to being hacked, I now dare to save assets because they replace our money if the hacker manages to bring our money, like some time ago when Binance was hacked, all the lost money was replaced by Binance

Indeed, Storing coins on a large Exchange will provide high security for us, Binance is one of the most trusted exchanges and I dare to put all my coins there too. Because I am a day trader so I always keep my coins on Exchange so I can always monitor the charts and price.

If you're a day trader then its fine to leave your coins on exchange because you wont stay these coins for long period.

However if you're a long term holder its not wise to use an exchange as your wallet no matter how reputable the exchange is because it is too risky.

Better to use a hardware wallet instead or any wallet wherein you hold your private keys.

DevilSlayer

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When it comes to trading where you are engage in buying and selling then it is okay to leave it in exchanges. The reason why there are people who suggest to not store your coins in exchange is because for you to not lose it because there is a possibility that the exchange may run away or it may hacked. In terms of choosing exchange, it is better to use exchanges that is highly trusted where it is proven for years that they have the best securities. There are also a lot of factor like having good volume and also liquidity in order to know if there are really traders who are interested to use that exchanges.

suryana

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Quote from: MUG1WARA on August 10, 2020, 11:57:22 PM

yes, you are right because in the past security was very vulnerable to being hacked, I now dare to save assets because they replace our money if the hacker manages to bring our money, like some time ago when Binance was hacked, all the lost money was replaced by Binance

Indeed, Storing coins on a large Exchange will provide high security for us, Binance is one of the most trusted exchanges and I dare to put all my coins there too. Because I am a day trader so I always keep my coins on Exchange so I can always monitor the charts and price.

Restmand

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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?

For me I will not leave my coins in an exchange when leaving a coins there I will regularly checked wether I won the trade or not. Trading is really good that is if we are wisely trader and also if we trade on a trusted exchange because nowadays there are many untrusted exchange, the money you stocked there can be easily hacked by someone due to less security measures of the sites.

MUG1WARA

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Quote from: ?? on ??

Not many traders hold their coins at wallets. Maybe for the old day where there is no good exchange but today, plenty of trusted exchange. If you're a short term trader, your coins must be on the exchange nearly all the time. If you're a long term trader with a high target price then most of the time, coins at wallet.

yes, you are right because in the past security was very vulnerable to being hacked, I now dare to save assets because they replace our money if the hacker manages to bring our money, like some time ago when Binance was hacked, all the lost money was replaced by Binance

affandi

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These words are just to warn us not to keep assets in the exchange wallet for too long without trading, because of the risk of hacking or other things, especially large amounts. better keep it in your personal wallet. there is no trading without making a deposit (it sounds ridiculous), and the most important thing is to choose an exchange that has clear credibility and strong security.

reliable

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Quote from: ?? on ??

You simply can't because to trade with your coin you must use an exchange even its CEX or a DEX. What forum members say is true but not for every exchange. An exchange like Binance is reliable. Unwanted activity can happen everywhere. You can lose the privet key of your wallet. So I think it will not be a smart idea not to use exchange by thinking that exchange will be hacked.

If you are using a reputed and trustworthy exchange for storing some of the coins required for the trading purpose that is fine. But if you are a long-term holder than online would not be a safekeeping. Better to store it in nano ledger in offline wallet.

electronicash

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withdrawal fees and gas are the usual complains when the prices of tokens rise. just like sending BTC, the fees is just unbearable when sometimes it peaks more than $10.
you may just wanna use some hybrid exchanges like they have the wallet app that you can connect to their exchange and so you can trade while your BTC still is in your wallet. there are several projects like this such as EIDOO.

EOS and TRON wallets works the same way that you can connect to the DEX they have. there is the tokenpocket to connect newdex but my fav is the tronlink. its just the easiest by far and you can then connect to poloniex or trontrade.

arufox

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Quote from: abayan on July 23, 2020, 06:33:30 PM

I leave my coin on the exchange so I can continue to trade that was I'm doing the gas is too expensive for now if you are going to transfer into wallet then you are going to transfer again into trading wallet it was very hassle and at the same time too much cost of gas if does happen and besides they can leave their coin on trusted exchange that they know that would not run.

All traders do like this, of course he will leave the coin on the exchanges rather than leave it on the wallet. But for holders, leaving it on exchanges is a bad idea.

And About OP question: As I know, Stellar wallet can possible to trade coin without leaving coins on exchanges because wallet and exchanges are integrated

kensaii

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Well yeah, there isn't a single trader that didn't have SOME part of the bag at their favorite exchange. Why it was 'some part of the bag' you ask? Because just like when you making a trade, you don't give it 100% order, only a proportion of it. Same with holding your bag at exchanges just to quickly react in case there is a movement in the market. I usually hold 30-40% of my bag in exchanges and rest at my wallet. If I need more to sell because there was a good price at the market, I will send more. While waiting it goes to exchange, you have time to rethink and planing out too so not making common mistakes like quickly sell all of your bags and then the price goes even higher, cursing at yourself.

qomariah95

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Quote from: abayan on July 23, 2020, 06:33:30 PM

I leave my coin on the exchange so I can continue to trade that was I'm doing the gas is too expensive for now if you are going to transfer into wallet then you are going to transfer again into trading wallet it was very hassle and at the same time too much cost of gas if does happen and besides they can leave their coin on trusted exchange that they know that would not run.

One of the reasons why I also don't keep assets in my wallet. Because the cost of gas is very high. I even made transactions or made withdrawals from exchange to exchange. Because it's the safest thing to do. And I still trust the exchange that I use, so I still keep my assets on the exchange.

abayan

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I leave my coin on the exchange so I can continue to trade that was I'm doing the gas is too expensive for now if you are going to transfer into wallet then you are going to transfer again into trading wallet it was very hassle and at the same time too much cost of gas if does happen and besides they can leave their coin on trusted exchange that they know that would not run.

BeginToMine

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Day traders hardly leave coins on exchange and also understand some coins can be saved in private wallets especially erc20 projects but not leaving coins doesn't really mean no single coin will be there but few as some traders leaves all their life savings in an exchange. Day traders doesn't.

Desscount

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ComboLabs

Quote from: rajakulam on July 19, 2020, 05:05:42 AM

I always monitor my coin trading all the time and sell it when the price exceeds the purchase price, because right now I think it is more profitable for short-term trading than long-term trading.

seeing trends is very important, if you trade now the uptrend is good for the short term, because it is easy to get profits, but if the trend is bearish, then the long term is much better

Topic: How do you trade if you won't leave your coins on exchange - page 3. (Read 2334 times)