how traders keep their crypto? | Bitcointalksearch.org

GregH37

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Quote from: seleme on January 13, 2019, 01:08:27 PM

Quote from: FuzeX_AG on October 15, 2018, 03:13:50 AM

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

Just divide your coins between actively traded and holdings. For storing your altcoins look for hardware wallets like trezor, nano ledger. If you are trader who trades daily on exchanges you can spread your balances between big exchanges and lock them with additional passwords. It is not rocket science

But the big question here must be, how often you will be withdrawing from your exchange ?
Because exchange hacking are happening most commonly these days and I am also curious about how traders are managing with their funds in exchanges.

It is always suggested not to keep big funds in the exchanges but practically we are unable to move funds back and forth on daily basis. I'm seeing this is also another kind of risk we must need to undergo for the reason of having quick trading. But, maintaining minimum funds as much is possible is one simple way to secure ourselves.

seleme

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Quote from: FuzeX_AG on October 15, 2018, 03:13:50 AM

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

Just divide your coins between actively traded and holdings. For storing your altcoins look for hardware wallets like trezor, nano ledger. If you are trader who trades daily on exchanges you can spread your balances between big exchanges and lock them with additional passwords. It is not rocket science

Dewi Aries

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Quote from: Lalafell on January 13, 2019, 12:04:14 PM

Quote from: FuzeX_AG on October 15, 2018, 03:13:50 AM

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

Being trader I personally keep my tokes in a hardware wallet such as trezor or ledger which is very secure wallet. Once I do trading or done in transaction I always withdraw it instantly and I will put it in my hardware wallet.

I wonder how if you stuck in a market so there is no choice to keep your money in market, in case trezor not support coins that you bought, i think it is better to keep half of money in exchanger, money that we used to trade Only personal opinion.

Lalafell

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Quote from: FuzeX_AG on October 15, 2018, 03:13:50 AM

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

Being trader I personally keep my tokes in a hardware wallet such as trezor or ledger which is very secure wallet. Once I do trading or done in transaction I always withdraw it instantly and I will put it in my hardware wallet.

adaseb

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If you are an active day-trader then you have no choice but to leave it on an exchange.

There are certain coins, especially the most popular ones like BTC,ETH,LTC where you can use a hardware wallet to store your coins in and you can just send them back and forth, however for many of the smaller coins there are no cold storage solutions.

If you are just day trading ETH or BTC on an exchange like Bitmex, then they offer 100x leverage so you can just keep a fraction of your coins on there and just 5x or 10x your leverage and it will decrease your risk incase something happens and they get hacked.

apityeh71

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As trader we make transaction for different coin in many times so will be more easy just keep the fund on the exchanges, but use more than 1 different exchange with different email and password and turn on all security feature.

mornabo

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Quote from: harizen on October 15, 2018, 03:18:22 AM

Quote from: FuzeX_AG on October 15, 2018, 03:13:50 AM

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

"When doing trading" you mentioned right? Then it was on a exchanger/trading platform itself because obviously you will miss an action once there is a trend if you don't have any funds there. You can also consider to withdraw some as part of precaution.

If you always trades, using exchanges service is not totally wrong. You just have to understand the risks. Like you said, it's annoying to transferred funds anytime. Risky as it is but you have no other choice. So to minimize the risks, use the service of a reputables ones.

If your purpose is to hold it for quiet some time, then's it's more wiser if you considered to stored your coins on a wallet that you control your private key.

I think the solution is to allocate the right funds in the exchange, not allocate all your money in the exchange because it will be very risky, allocate the right funds and keep them in the exchange for the trading function, so you don't transfer at any time

Yamifoud

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Quote from: danherbias07 on October 23, 2018, 03:54:06 PM

Just putting a date into when you will trade might help.
Like just staying in a trading website for a month and then taking it back to your safe wallet.

It is not easy going back and forth day by day and you will be spending too much transaction fees instead of making it as a profit.
You really have not much of a choice but just staying with them or else you wont feel the profit and it will be difficult to calculate everything.

I've experience it before doing back and forth transaction but I realize lately that I'm losing a lot rather than of gaining that's why I stop such doing and keep my money in a certain exchange for a months and then I withdraw by then.
But the market before is good unlike today, it is not a good option for these, it is better to keep our token safe and wait for the right time before doing trades again.

danherbias07

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Just putting a date into when you will trade might help.
Like just staying in a trading website for a month and then taking it back to your safe wallet.

It is not easy going back and forth day by day and you will be spending too much transaction fees instead of making it as a profit.
You really have not much of a choice but just staying with them or else you wont feel the profit and it will be difficult to calculate everything.

mudasarali43

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Traders are kept their cryptocurrencies in according to the market situation and get benefits according to the market positions where you can get good profit also this strategy is totally varied to the market situations

LSt56

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Quote from: Simu111 on October 23, 2018, 12:48:32 PM

Quote from: FuzeX_AG on October 15, 2018, 03:13:50 AM

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

I always use exchange wallet for doing trading in many exchanges. for that security reason I have passed all exchanges verification process along with two step verification system by google authentication app.

I agree with you, if we are active traders or just do short-term trading, it will be easier to keep our funds in the exchange wallet, with that we can make buying and selling transactions quickly. But if we are long-term traders or only trade occasionally it will be safer to save funds in a personal wallet with a private key.

Simu111

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Quote from: FuzeX_AG on October 15, 2018, 03:13:50 AM

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

I always use exchange wallet for doing trading in many exchanges. for that security reason I have passed all exchanges verification process along with two step verification system by google authentication app.

o_e_l_e_o

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Quote from: Dilerium90 on October 23, 2018, 10:46:23 AM

I use only one exchange for tradinga and it's Bitfinix. There are all sets for trading and i think it's most safe exchange.

Bitfinex is definitely not the safest exchange right now. You need to pay more attention and read up regarding what's happening with Tether.

Tether and Bitfinex are the same company. Tether's marketcap has continued to fall as people sell en masse. Bitfinex are having to cash out huge amounts from their cold wallet to cover these funds. There is $2 billion of outstanding Tether, and only $800 million left in their cold wallet. They are essentially insolvent right now.

Keeping your funds on Bitfinex is risky right now.

Dilerium90

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Quote from: FuzeX_AG on October 15, 2018, 03:13:50 AM

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

I use only one exchange for tradinga and it's Bitfinix. There are all sets for trading and i think it's most safe exchange. I use other exchanges, such fork delta, IDEX for converting some unknown coins into etehrium.

crypteris

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I would suggest storing coins on a hardware wallet. It's safer though might be quite expensive. In case of keeping cryptos on exchanges, make sure it is secure enough and offers different safety means like 2FA, cold storage, etc. CEX is known for its high level of security. After buying on the exchange (https://cex.io/btc-usd) you can keep some coins there for trading or other purposes.

carlisle1

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Never leave your coins in an exchange overnight,everytime that you are done in your trading sessions,make sure tht you will return the funds in wallets,because exchangers are very vulnerable from hackers.this is their target as lots of funds they might take from them

deevan

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Well if I knew that I want to trade often then surely I will leave it on exchange to avoid transfer fee if the exchange is good. But if I knew that I don't want to trade soon then I will transfer it to any supported cold/hot wallet, leaving your crypto on exchange for a long time can be quite risky as exchanges are always prone to security issues. If you are doing day trade then it is better to leave on exchange to avoid transfer charges & it will save your time for transferring your crypto from wallet to exchanges vice versa.

Usafstar

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Traders trade very quickly and they have a commission fee so they never face losses in the normal routine because if they change 3% then the price movement in that time may be 1 or 2 % so still they can find a good profit and they know that at which price they will sell their coins, Traders are the expert of the market and they keep those coins which they want to rise for demand and still they have a good volume of that coins for trade so they hold some portion of every coins with them.

horrifiedx1

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Quote from: DarkBullet on October 22, 2018, 08:03:10 AM

Even though it always advisable not to put your funds to an exchange, I actually just leave it to my exchange account specially when I am holding it in times of covering some losses or waiting for a break out for my altcoin to take a profit. I only maintain specific amount to my account then when the profit comes (which also has a set amount), I immediately transferring it to my hard wallet to hold it for long term. Transferring back and forth everyday or every trades will be a hassle for me and I am very comfortable and feel secured when leaving my funds to my exchange account actually.

right, personal wallet is certainly safer than we put in exchange. if we don't do it off course. but to hold for a long time, I prefer to hold in btc or eth. of course it will feel calm when holding it

o_e_l_e_o

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Quote from: Babyrica0226 on October 15, 2018, 11:50:24 AM

leave it in exchange wallet?

- Some of the traders doing this things if the exchange has a good reputation or belongs into top 20 exchangers.

Isn't it too risky?

- Its risky almost all exchange platform actually. But you can google authenticator/2fa to prevent hackers.

Just because an exchange moves a large volume or is reputable, doesn't make it safe. Mt Gox was very reputable and was dealing with about 70% of the entire market before it was hacked. I would definitely be avoiding smaller exchanges, but just because an exchange is large or well known doesn't necessarily mean it is safe.

Using 2FA is a good idea all round, and will help to prevent people from hacking your individual account, but it does nothing to prevent against exchange hacks.

Quote from: Babyrica0226 on October 15, 2018, 11:50:24 AM

Store in a hot or cold personal wallet?

- it is much better to store in cold wallet like Electrum

Electrum isn't necessarily a cold wallet. Downloading and using Electrum on your internet connected computer is a hot wallet, and whilst better than an exchange, is still not that great for security. Electrum would only be a cold wallet if used on an airgapped computer or as an interface for a hardware wallet such as a Ledger Nano.

Topic: how traders keep their crypto? (Read 652 times)