Topic: Wallet vs Exchange - page 5. (Read 4335 times)
Depending on the purpose using, with me deposit 80% BTC on exchange and holding 20% on Wallet PC. Because I'm a trader and always need BTC for buying altcoins cheap anytime, if keep on Wallet PC, very difficult when send BTC to exchange and need time to confirm transaction, sometimes waiting that will miss opportunity "shopping" time =))
Way back 2015, i'm storing my btc in local exchange wallet but after I heard that they will locked your accounts and hold your btc if they found out that your btc came from gambling, which is against their rules. I don't store anymore my btc in exchange wallet because of fear that it will happen to me because most of my btc is mainly from gambling. As well as you don't have a control on your wallet, you don't have a private key on it. There's also a chance that exchange could turn into scam, could be hacked, etc. Unlike the one i'm using now which is mycelium wallet, way better.
I only transfer bitcoins to an exchange when am in need of other altcoins as it's been said to be risky to store bitcoins on such platforms unless you are a day trader.
A wallet you have access to the private keys should always be prefered for holding purposes or general use.
A wallet you have access to the private keys should always be prefered for holding purposes or general use.
That's are depends my bitcoin for. If I would to do some a trade, so I kept all my rest bitcoin to Exchange. If I would to kept my bitcoin on rest I saved them on my wallet
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?
I am more on saving to wallet than to exchange because I don't still have enough knowledge to exchange more than 50% of my bitcoin. 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?
It depends what you're doing with your coins. I keep a couple of wallets and also a large chunk on a what I feel is a safe exchange because I am constantly trading the money that I keep in the exchange. I use the wallets (online, paper, and hard) more as diversified long-term holdings.
This is my thought too. Now that BTC is so valuable it seems like cold storage is the way to go.
If you aren't trading, then storing your bitcoins on an exchange is a bad idea. There are no advantages and many disadvantages.
OK then, I will have a look soon, before 1st au.
Do they charge any fees when moving the coins to the wallet and back?
PS:Thanks!!
Do they charge any fees when moving the coins to the wallet and back?
PS:Thanks!!
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?
I have the same question, I have everything on my Bittrex wallet and I keep on reading people who recommend having an offline wallet... I don't know if it's that convenient. Is it unsafe to have it in the exchange?
It is not safe. When you keep your bitcoins in an exchange, It is like that you have trusted to a person to keep your bitcoins and he can steal them easily. keeping coins in this way is convenient, but it's risky
We have seen many exchanges getting hacked/going scam like Cryptsy for example and we have no guarantee that the exchange we are using will not go the same way as Crytpsy. It is not recommended to put more than 10% of your whole amount of bitcoins in an exchange, 90% should stay with you in your desktop wallet so you are not affected that much if anything bad happens to the exchange.
It depends on your purpose. In general, If I don't have any plan to trade I usually store coins within non-exchange wallet by staking ( if it's build upon POS algorithm ) and by against hacking issue because wallets from exchanges are not secure. We had a hacking operation on Bitfinex as an example.
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?
Is it like 50/50 or more like 90/10?
I can think of only one benefit of storing your coins on an exchange over storing them in your own wallet:
- Convenience for trading.
Many people believe that storing them on an exchange is more convenient than storing them in your own wallet, but that is not true. Just try a wallet like airbitz and see for yourself.
If you aren't trading, then storing your bitcoins on an exchange is a bad idea. There are no advantages and many disadvantages.
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?
Because I do trades regularly, almost majority of my bitcoin quantities are on exchanges. Why? It's easy to execute trades while they are on exchanges because coming from a main wallet, bitcoin will surely eats too much time just to arrived on exchanges especially with the current bitcoin network status.
I know the risk after all and Im eyeing too for long term holding but I want to play with my coins and not just to let it sleep on my main wallet. This is part of the challenge.
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for now, i am keeping my coins in polo, bittrex, yobit, and cryptopia for like 50% and keep another of my coins in coinomia, coin payments, and jaxx like 50%. i am doing this because i want to keep the other amount in android phone and makes the coins as investment. beside that, i don't want to take a risk to save all of my coins in the exchanges.
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?
I hold it like 99/1, 1% on exchanges obviously(spare change), And you should do that too. Anytime, the crypto exchange can just close and run away with your cryptocurrencies if they wanted to. Also, remember the previous hacks on bitfinex and Mt. Gox? Those events should already be a lesson for crypto holders.
News links for those interested:
Mt. Gox: https://www.wired.com/2014/03/bitcoin-exchange/
Bitfinex: https://btcmanager.com/bitfinex-confirm-64-million-hack-btc-usd-slumps/
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?
Keep all your coins in a hardware wallet to be safe. With that you control your coins and you are the only person who have access to your coins. Its like a vault for your coins. The setup a mobile wallet for your spending with a little bit of amount.
Like me I also bought the bet hardware wallet in the market right now which is the Ledger Nano S. It is 100% safe and secured where no one can access your coins except you for it is PIN protected. If you want to know more about this hardware wallet you can check this out. https://www.ledgerwallet.com
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?
I have the same question, I have everything on my Bittrex wallet and I keep on reading people who recommend having an offline wallet... I don't know if it's that convenient. Is it unsafe to have it in the exchange?
If you intend to do exchange often keep it there, if you are holding for long period keep it closer in your control (private key control).
I keep on exchange only the coins which I want to trade or lend, main value is stored in hardware wallets and a small part in metamask for fast eth operations.
I do not store my coins on exchanges unless there is no available wallet for it except the one's built-in wallet from exchange sites. I kept most of it on a hardware wallet (KeepKey) and the rest I put in my desktop/modified wallet. I just moved or transfer it to an online wallet if I wanted to withdraw my funds or if I need to buy something online.
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