Topic: how traders keep their crypto? - page 2. (Read 617 times)
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.
It depends what on the kind of trader. As for day traders, they store most of their funds in an exchange to make daily trades and take advantage of any pump and arbitrage trade. But for long term traders, funds are mostly stored out of exchange. But storing funds on an exchange is very risky. We have seen an upsurge of hacks on crypto exchange, about 800million lost. So have haven said all these, the best way to store your funds is in your wallet preferably wallets that you are in control of your private keys
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?
Of course it must be in accordance with our goals. When we aim to hold for a long time then choosing an offline wallet is the right choice. But if we are an active trader and try to trade in small volumes, saving funds in an exchange that has a good reputation becomes an option. It all depends on what we do. Things like this must be understandable and for a trader, making decisions is something they must understand very well. 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?
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 do not keep my coins in one exchange to begin with. I dilute them into multiple exchanges and if possible download the wallet for that coin as well. If there is someone out there who trade daily than they can answer this much better because daily traders are buying and selling everyday and they need to have funds on the exchange constantly however if they are keeping their coins there all the time that means they should be really trusting the exchange really a lot.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 do long term investment and when I buy a coin I usually hold it for a long period of time and if you are holding a coin for a long period of time than you can download the wallet of that coin and keep it on your computer which would create a great security for your coins. It doesn't mean nothing will happen to them but it certainly is better than keeping it on a third party website than your own computer.
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?
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?
If you have trust to your exchange where did you trade you can leave your coins there, but if think the exchange do you use isn't a truted beacuse lack of security feature and prone from the hackers don't leave your coin stored it in the safest storage.
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?
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 think it's best you leave you coins on exchange when trading, should in case there's an impromptu sale you wouldn't have to worry
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?
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 live in Indonesia and I choose to keep crypto in the exchange wallet, because I trade on Indodax.com and have an office, so if there is a problem you can go directly to the Indodax office, please read the Indodax office address here https://blog.indodax.com/office-bitcoin-co-id-in-jakarta-barat/
I think they do not feel panic every time markets going down instead the helps to increase the demand of every coin they have like what i am doing, keep holding a coin that you know have possibility to increase its value make the coin more positive and will have stronger value.
Usually when the market is at dump stage, I convert my coins into usdt until the market is stable and recovered. But I still have some to transfer it into my wallet for safety purposes. Some part of my balance were still on an exchange where I am capable of doing a margin and day trading as well.
how you guys keep your crypto when do trading?
leave it in exchange wallet? Isn't it too risky?
leave it in exchange wallet? Isn't it too risky?
Again, if you don't have the keys then its not your coins. So leaving funds in a exchange specially huge amount has big risk associated with it. Better just put some decent amount for trading activity only.
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?
If I'm going to store coins in a hot wallet, then Its a big amount that I'm willing to hold for a long time. As you have said its annoying to transmit every time so its better not to used them for your "daily" trading activities and just look for wallet that suits your need.
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?
Its your choice yet you can do both things depending on your risk management.If you are willing to pay up fees everytime to make transfer of your funds from exchange to your own wallet then so be it. Coins more secure but it would pay up for the fees actively but If you don't like to pay up or would like to save up for fees and hassle then its your opt to let those funds stay on exchange but you are already aware on the possible risk on exchange storage.Its your choice. 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?
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?
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?
It seems to me that storing this way is the safest way. And the rest does not matter
I personally convert my crypto into my local fiat using www.luno.com,unless my crypto that is already in orders (market) which i will leave for the orders to execute or I will cancel them if the market is not responding and convert them back to fiat. If i have an entering point that is good to me i will still use Luno.com to convert part of my fiat to cryptocurrency and place the trade. I do this so that my money will not be at risk of being hacked and that will be the end of my suffering.
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?
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?
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.
Store in a hot or cold personal wallet?
- it is much better to store in cold wallet like Electrum
isn't it too annoying to transmit every time?
- Yes it is!
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.
Yeah, and it is either you are trading or you are not. For anyone who is not trading, I do not expect having to take such a risk of leaving their funds in an exchange because they can lose it all. However, for someone who is trading, and they do that consistently, they apparently should not be trading with all the funds they have on an exchange. There should always be an amount in percentage allocated for trading purposes only so you would not end putting too much risk on yourself as a trader, just in case something goes wrong with the exchange.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.
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?
Well, you would not have any other means of not having to leave your funds on an exchange, which is one of the reason we always say as well that people should only trade what they can at least afford to lose not just because of their idea or knowledge about trading, but most definitely for the fact that anything can go wrong with an exchange.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?
For this reason, I have always traded on 3 different exchanges while making use of all the available securities at my disposal with most of it being 2FA. As long as you are trading, there is no sense having to withdraw every single time to a cold wallet unless you have to.
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?
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?
never leave all your assets on the exchanger especially for a long time. in my opinion, if you have finished trading, the profits from your trade are stored in your personal wallet, for example nano ledger.
It's better to be a little annoying than everything you can lose
I'm not a trader, I'm a Bitcoin user.
But if I had to buy a lot of fiat I would certainly not send more BTC to an exchange than I could withdraw. So If I could only withdraw $50k due to limits, I would sell maybe $45k at a time. Having money sitting at an exchange is a bad idea. As soon as I have sold I would transfer the entire balance to a bank.
But if I had to buy a lot of fiat I would certainly not send more BTC to an exchange than I could withdraw. So If I could only withdraw $50k due to limits, I would sell maybe $45k at a time. Having money sitting at an exchange is a bad idea. As soon as I have sold I would transfer the entire balance to a bank.
As much as possible, you should avoid storing coins in the exchange wallet. Because the fifty percent of the money is in your judgment, so they never give you private key to handle the problems. I'm saying this because I've had this problem. Besides, the problem of hacking is one of the biggest problem.
As long as you are trading, you obviously will not just want to be moving your trading funds around, and rather just classify it as a trading fund, which means you obviously have to accept the fact that this amount would always be in your trading account unless you want to remove some profits you have made, but as long as it is a fund you are using to trade, there is no point moving it all around.
What is important is to just make sure you are not putting what you cannot afford to lose on an exchange and even though you can still trust the exchange, that does not mean you should discard the fact that there is risk involved.
What is important is to just make sure you are not putting what you cannot afford to lose on an exchange and even though you can still trust the exchange, that does not mean you should discard the fact that there is risk involved.
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?
Depends on what kind of trading you are doing,if you are an active trader then you should keep it in the exchange to make money or it will be extra expensive and time waste while transacting the coins.Leaving in our wallet in exchange is too riky but if you want money you have to or better hold or move to long term 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?
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