Kraken is exchange and every exchange have wallets for each coin they are supporting. Like if you are converting BTC to XRP then exchange should have wallet to save your XRP.
Topic: Kraken is Also a Wallet? - page 2. (Read 246 times)
Exchanges will give you wallets where you can store coins but you definitely have no control over it, you don't have the private keys of it. Of course you can use it to store your coin but its not the safest ting to do. One wallet that is safer to use but at the same time where you can readily buy and dump is the wavesplatform bitcoin wallet. And its safe too you have the private key and password of it.
I would stay away from keeping a lot of money on any exchange that deals a lot in USD tether. Some people believe it could cause a major disaster bankrupting several exchanges. Kraken deals tether so please stay safe!
Sure, they are considered wallets as they have addresses and you can use them to receive funds. But does it mean that it's a good idea to store funds on exchanges? DEFINITELY NOT. Create your own wallet. If the exchange gets hacked or if they lock up your account for some reason, then you pretty much lost your funds.
READ: Topic: [General] Bitcoin Wallets - Which, what, why?
READ: Topic: [General] Bitcoin Wallets - Which, what, why?
Hi everyone,
I would like to know if Kraken or others exchange are wallets too?
thanks
I would like to know if Kraken or others exchange are wallets too?
thanks
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