Topic: Keep All Coins in Hardware Wallet vs Separating Some in Exchanges/Other Wallets - page 2. (Read 860 times)
October 24, 2018, 07:02:15 AM
Actually topic answers already you given this, basically in my opinion if you are holders then you can choice hardware wallet it help you good safety'' and if you are trader then you can choice Exchanger wallet and use 2FA high security.so discussion on your mind what you want him.
October 24, 2018, 06:46:52 AM
the more difficult they are hidden, the longer they will lie, because it does not allow to bring them at any time)
October 21, 2018, 06:18:50 AM
Yes, as we all know that crypto industry is all about self-responsibility and hence one should hold himself responsible for the consequences of occurring due to his actions. I am holding my most of the funds in hardware and paper wallets but at the same time, I keep some amount on exchanges and web wallet considering the requirement of liquidity (with the risk of losing entire funds kept online).
October 21, 2018, 04:25:07 AM
wallet is a place to store all assets and this is very important for all crypro holders. crypto spreads on many wallets is safer than centralized but the drawback is the number of transfer fees for each crypto if it needs to be traded or stored
October 20, 2018, 10:00:50 PM
You already answered your question. It is obviously depends if you are a trader or a holder. If you are a holder, the best thing to secure your coins is on hard wallets. If you are a trader, just store it on trusted exchange so that you can easily trade it when needed. Just make sure that you activate the highest security of your account such as 2FA.
Already, and 2FA does not always save, if the exchange is hacked, there could be no protection. Having a hardware wallet we protect ourselves very well. The main thing is not to lose a piece of paper from the Ledger with passphrases for recovery.Thats true, thats why its better to separate your funds for HOLD and funds for trading. A hardware wallet is good for long term Hols in my opinion as you are not moving the funds from time to time. You can keep some funds for trading for daily trade but be sure its a legit trading site with 2FA as additional security.
October 20, 2018, 06:54:29 PM
I would go for both ways! All we are doing these things to secure our funds. So, As a long-term holder, I will hold coins in a hardware wallet and as a trader, i have to keep some coins on exchanges too! So, you are right!
October 20, 2018, 06:50:27 PM
You already answered your question. It is obviously depends if you are a trader or a holder. If you are a holder, the best thing to secure your coins is on hard wallets. If you are a trader, just store it on trusted exchange so that you can easily trade it when needed. Just make sure that you activate the highest security of your account such as 2FA.
Already, and 2FA does not always save, if the exchange is hacked, there could be no protection. Having a hardware wallet we protect ourselves very well. The main thing is not to lose a piece of paper from the Ledger with passphrases for recovery.2fa's , hardware wallets , strong passwords , etc all of them are the same . when i say the same id say all of them is still useless because no matter how you secure your wallet/account it can still be hacked and you cannot avoid it becuase hackers are verry smart . so overall , the best thing that we can do is to avoid putting huge amount of cash in your wallets/accounts online so that you can avoid unecessary problems that may occur on the future .
October 20, 2018, 06:14:42 PM
If you can afford hardware wallet, you can use it to secure your coins if you don't want to use them regularly.
It's no longer a matter of being able to afford a hardware wallet since they aren't expensive at all. People not willing to buy a hardware wallet are mostly cheapskates thinking they can take care of storing without buying hardware.Technically you can do that by using a paper wallet, but that's not safe at all. What if you want to use your coins? You have to import your private key into a client you don't know of if it's safe or not.
Hardware wallets are multifunctional. It's not just a piece of hardware that allows you to safely store your crypto currencies, but it's also one that provides the safest possible way to transact with the outside world.
Paper wallets won't ever be able to provide that. Just think about it, will you rather "lose" $100 that you pay for a hardware wallet, or lose $10,000 worth of crypto due to a hack because you didn't want to get a hardware wallet.
Easy choice.
October 20, 2018, 12:00:23 PM
Well if you're actively trading though, it makes sense to leave coins in an exchange. You have to consider the transaction fees that you have to pay to move your coins back and forth. We all are aware that for long term investments, of course your own wallet is the safest place to keep your coins but i think it's ok to put your moving coins in an exchange.
If the trading activity of a trader is not enough to pay for a few dollars each day in transaction costs then it is better that person stops trading because he has a capital that is too small or because he is not getting enough profits in trading, I know that is more practical to keep your coins in the exchange and it is easier but when it comes to cryptocurrencies the easiest path is not always the best, because as we know hackers can steal your coins from the exchange.Or as it was pointed out the exchanges could change their policies overnight without any previous notice and they could require more information about you and where you got your money and even if you are not doing anything illegal you have a right of privacy that is being violated by those actions.
October 20, 2018, 08:05:20 AM
just want to note that the convenience of storage and payment, do not need other wallets. this is achieved by the flexibility of payment anywhere
October 19, 2018, 02:22:52 AM
You already answered your question. It is obviously depends if you are a trader or a holder. If you are a holder, the best thing to secure your coins is on hard wallets. If you are a trader, just store it on trusted exchange so that you can easily trade it when needed. Just make sure that you activate the highest security of your account such as 2FA.
Already, and 2FA does not always save, if the exchange is hacked, there could be no protection. Having a hardware wallet we protect ourselves very well. The main thing is not to lose a piece of paper from the Ledger with passphrases for recovery.2fa's , hardware wallets , strong passwords , etc all of them are the same . when i say the same id say all of them is still useless because no matter how you secure your wallet/account it can still be hacked and you cannot avoid it becuase hackers are verry smart . so overall , the best thing that we can do is to avoid putting huge amount of cash in your wallets/accounts online so that you can avoid unecessary problems that may occur on the future .
October 19, 2018, 01:56:43 AM
You already answered your question. It is obviously depends if you are a trader or a holder. If you are a holder, the best thing to secure your coins is on hard wallets. If you are a trader, just store it on trusted exchange so that you can easily trade it when needed. Just make sure that you activate the highest security of your account such as 2FA.
Already, and 2FA does not always save, if the exchange is hacked, there could be no protection. Having a hardware wallet we protect ourselves very well. The main thing is not to lose a piece of paper from the Ledger with passphrases for recovery. October 18, 2018, 05:30:06 AM
You have answered it yourself. If you want to hold your coins, keep them in the hardware wallet but If you are a regular trader keep them in the exchange which will enable quick transaction. Also keep in my mind about the security of the exchange.
October 18, 2018, 05:29:39 AM
Hardware wallets are obviously safer than exchanges. However, you can always store a small amount in legit renowned exchanges for trading purposes.
October 18, 2018, 03:32:47 PM
I have heard that some people scatter their cryptocurrency in different cheap wallets like mew and this can be a way to avoid loosing all your coins at once, incase there is hacking. If you can afford hardware wallet, you can use it to secure your coins if you don't want to use them regularly.
October 18, 2018, 05:29:10 AM
In my opinion it is best to keep the coins on hardware wallet if you are a holder but if you are a trader keep it in a good, trustworthy exchange.
October 18, 2018, 10:06:22 AM
October 18, 2018, 05:28:40 AM
The post was pretty self explanatory, to be honest. As indicated, for holding purposes, hardware wallet is better and for trading it is adviced to keep coins a secure exchanging platform.
October 18, 2018, 10:05:04 AM
You have written so much that your question is not understandable. What is your point/question ?
I ll anyway answer what I understood.
1. A person should only buy a hardware wallet if he wants to hold the coins in there for a long term. The hardware wallets are created to keep the coins offline and secure.You should not be using it if you want to trade coins on a regular wallet.
2. If a particular wallet offers you any kind of rewards then it depends on your preferences whether to use that particular wallet or a hardware wallet. The hardware wallet will provide you safety and no rewards whereas the other wallet will provide you rewards but no safety.
I ll anyway answer what I understood.
1. A person should only buy a hardware wallet if he wants to hold the coins in there for a long term. The hardware wallets are created to keep the coins offline and secure.You should not be using it if you want to trade coins on a regular wallet.
2. If a particular wallet offers you any kind of rewards then it depends on your preferences whether to use that particular wallet or a hardware wallet. The hardware wallet will provide you safety and no rewards whereas the other wallet will provide you rewards but no safety.
October 18, 2018, 09:03:00 AM
Even if you are day trading you should never leave your coins in the exchange, after all at some point you are going to stop trading for the day, whether this is because you have to sleep or because you have something else to do, but whatever the reason you are going to stop trading at some point and it is way better to just withdraw your coins from the exchange, it is true that you have to pay fees to transfer your coins back and forth several times but if you are not producing enough profits with your day trading just to pay the transaction cost then you should probably review your strategy, doing this may seem as doing too much to some people but when the exchange gets hacked and your coins are safely stored in your wallet that is when you are going to appreciate going through all of that trouble.
Hacking is not the only problem you can have if you leave your coins in an exchange. Sometimes, the exchanges change their policies all of a sudden, they may require new verification levels and ask you for documentation while they freeze your funds.
Well if you're actively trading though, it makes sense to leave coins in an exchange. You have to consider the transaction fees that you have to pay to move your coins back and forth. We all are aware that for long term investments, of course your own wallet is the safest place to keep your coins but i think it's ok to put your moving coins in an exchange.
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