GL 
Topic: Wallet vs Exchange - page 4. (Read 4289 times)
A wallet is far more secure than anything else! Just remember this and don't keep anything on an exchange you're afraid to lose. GL
GL
If you have a hardware wallet, how often do you back it up ?
Is there more risk to have your online wallet hacked than to lose your hardware wallet ?
Is there more risk to have your online wallet hacked than to lose your hardware wallet ?
Since I am trading a lot, I keep 90% of my coins on exchanges (Bittrex, cryptopia, livecoin, novaexchange). Then my other 10% on a hardware wallet.
as a newbie, in the future i keep my bitcoin and invest in trade... i think online wallet is safe...i suggest always need a backing up for security of your wallet... i'm not sure as a newbie what is best wallet use for safety... i will search the best wallet very safe...
Closer to 90/10 for me. Just enough on the exchanges to trade. Everything else safely away from those greedy hands.
I think it's always a good idea to have at least a part of your coins on an offline wallet, definitely if they're worth more than you're willing to lose.
I don't consider bitcoin on an exchange my bitcoin.
It's only a matter of time until an Exchange screws you over (either deliberately, or inadvertently).
If you actually need to use an exchanges services then my all means temporarily locate them there - but upon completion move them back to your hardware wallet.
p.s. It doesn't matter how goes a trader someone is if their exchange ends up costing them their gains.
It's only a matter of time until an Exchange screws you over (either deliberately, or inadvertently).
If you actually need to use an exchanges services then my all means temporarily locate them there - but upon completion move them back to your hardware wallet.
p.s. It doesn't matter how goes a trader someone is if their exchange ends up costing them their gains.
Hello
I keep about 90 percent on exchanges for short amounts of time, but I do not have them all on one exchange. I have them on many many multiple exchanges under different names and all that.
Why do I do this? Because I trade frequtnly and go back and forth between other coins. If you are doing that you basically have to keep your coins on there because sometimes a good trade comes up to make 10% and you only have 30 minutes to do it or less, and it may take too long to transfer your coins to the exchange or you are not home and not able to access your pc to send them to exchange.
If you are not trading almost ever, it is better to back up your coins securly and make multiple back ups on your devices.
I keep about 90 percent on exchanges for short amounts of time, but I do not have them all on one exchange. I have them on many many multiple exchanges under different names and all that.
Why do I do this? Because I trade frequtnly and go back and forth between other coins. If you are doing that you basically have to keep your coins on there because sometimes a good trade comes up to make 10% and you only have 30 minutes to do it or less, and it may take too long to transfer your coins to the exchange or you are not home and not able to access your pc to send them to exchange.
If you are not trading almost ever, it is better to back up your coins securly and make multiple back ups on your devices.
Technically, you should only use exchanges if you actively do business on them (i.e. trade, etc.). For example, I keep "a bit" 
on LocalBitcoins in case I need to sell some fast or whatnot.
With that said, you should get into the habit of storing your Bitcoin on paper wallets or a client like MultiBT. A paper wallet in particular is a surefire way to keep them secure, so long as you don't lose the paper! (paper wallet = CASH)
on LocalBitcoins in case I need to sell some fast or whatnot.With that said, you should get into the habit of storing your Bitcoin on paper wallets or a client like MultiBT. A paper wallet in particular is a surefire way to keep them secure, so long as you don't lose the paper! (paper wallet = CASH)
I prefer letting everything secure in my wallet ! I only leave in the exchanges the coins that I think I will need for exchanging, and not all of it !
Ok,
my question is, how much coins you keep in wallet and how much on exchanges?
Is it like 50/50 or more like 90/10?
my question is, how much coins you keep in wallet and how much on exchanges?
Is it like 50/50 or more like 90/10?
Basically, I dont keep much on exchanges / Online wallet for the sake of security and peace of mind. A hardware wallet such as trezor and ledger is always recommended to store bitcoins and is the safest choice.
Though, when I do use an exchange for trading purposes, I make sure I withdraw the funds immediately to my hardware wallet. The only thing which I feel like a problem is that 90% of the altcoins are not supported by these hardware wallets so sometimes I am forced to keep the funds on an exchange.
I tend to keep my bitcoins on web wallet than exchanges I'm not an investor type and I regularly cashout my bitcoins for general purposes and expenses. I haven't encountered difficulties in my current web wallet and its very convenient for me use meanwhile exchanges had lot of issues for me and doesn't fit my lifestyle.
I store my savings Bitcoin in paper wallet. I store my coins in computer wallet max. $1000.
If I will get over this, I immediately either sell or send back to $1000. On phone $250 and $50 on online wallet. On exchange I keep bitcoins when I trade and when I don't trade I don't keep them.
If I will get over this, I immediately either sell or send back to $1000. On phone $250 and $50 on online wallet. On exchange I keep bitcoins when I trade and when I don't trade I don't keep them.
And would you recommend Electrum? Or do you have a different favourite? What are the prons and cons? I´m looking to transfer everything to a wallet before Aug.1st just in case... 
It all depends on the amount that I keep and future goals!
Small amounts that you plan to use in the near future, it is better to store in exchanges! Long-term storage of large amounts is better in wallets!
Small amounts that you plan to use in the near future, it is better to store in exchanges! Long-term storage of large amounts is better in wallets!
For small amount of coins you can store it in exchange so you can make use of the trading platform.
If you are investing heavily on coins and looking forward to grow it and keep it in a safe place then you can put it in a paper wallet also know as cold storage.
But if you want better than paper wallet which will allow you not just to store it safely but also gives you the ability to transact safely then you need to get your self a hardware wallet like Ledger Nano S for it will make you save your bitcoin, altcoin, and even ripple and ether. No matter what happen your coins is safe with you for you keep your own private keys. Its malware proof so really safe and you will have your peace of mind for a small amount of money to store your coins.
I bought mine for i really like bitcoin and just like the concept of decentralize, i dont want anybody keeping my bitcoin for me. i alone will have access to my coins.
Here is the link if you want to check out this amazing hardware wallet: https://www.ledgerwallet.com
If you are investing heavily on coins and looking forward to grow it and keep it in a safe place then you can put it in a paper wallet also know as cold storage.
But if you want better than paper wallet which will allow you not just to store it safely but also gives you the ability to transact safely then you need to get your self a hardware wallet like Ledger Nano S for it will make you save your bitcoin, altcoin, and even ripple and ether. No matter what happen your coins is safe with you for you keep your own private keys. Its malware proof so really safe and you will have your peace of mind for a small amount of money to store your coins.
I bought mine for i really like bitcoin and just like the concept of decentralize, i dont want anybody keeping my bitcoin for me. i alone will have access to my coins.
Here is the link if you want to check out this amazing hardware wallet: https://www.ledgerwallet.com
I store my BTC on exchange now to avoid fees.
If it is little amount ofcourse that's ok, but if someone have a lot of cryptocurrencies it is very dangerous. We have many examples from past that even very trustable exchange can be hacked or just rob their clients.
Question about % of that what you keep on exchange or in your wallet depends from that for what you need this crypto, and how much you own. Traders usually more of their coins keep on exchanges (but not on one exchange - less risk). If cryptocurrency is your investition, for sure you should keep 99% or even 100% in secure wallet.
I store my BTC on exchange now to avoid fees.
It is safer to keep your coin in your wallet, exchanger is not a good place to store your coin, unless you are ready to lost it, I kept 10% of coin in exchanger for trading purpose, and all the profit I made, I sent it to my wallet, I never put too many coin in exchanger
Ok,
my question is, how much coins you keep in wallet and how much on exchanges?
Is it like 50/50 or more like 90/10?
In depens what you are doing with your coins and how much do you have.my question is, how much coins you keep in wallet and how much on exchanges?
Is it like 50/50 or more like 90/10?
If you aren't trading and just holding bitcoins, it would be best to keep ALL coins in a wallet. If you are trading, keep on exchange amount of bitcoins, which would be enough to trade.
I'm not serious trader, so I'm only keeping less than 10% of my bitcoins.
Jump to: