What to do with my portfolio on bitfinex?

harizen

legendary

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Quote from: Atzinator on January 04, 2018, 10:49:07 AM

Hi there,

I am actually owning very different coins (600 XRP, 300 Data, 2 LTC, and so on) on bitfinex in my exchange wallet and I don't want to touch any of it the next 2 years. What is the best and safiest option for me what to do know because I read that the exchange wallet is not pretty safe but I don't remember why Cheesy

.

Thank you for your advice!

As suggested above, since you will take your coins on long term hodl, you can consider their suggested wallets, hardware wallet (Ledger Nano S) or Coinomi. In the span of 2 years, we don't know if Bitfinex will still operational so better be safe than regrets.

Both wallets supported XRP and LTC. About DATA, I see it's an ERC20 token (if that is really the coin you are holding right now) so storing it on your MEW should be fine as long as you saved your private keys.

mk4

legendary

Activity: 2870

Merit: 3873

📟 t3rminal.xyz

You can currently store your LTC on Exodus, and soon they will add XRP as it's currently on beta[1]. Though if you hold a good amount, your best bet would be to use a hardware wallet such as a Ledger Nano S[2]

I'm really not sure about your "data" coin though, your best bet for your "data" is to download it's official wallet on their official website.

[1] http://support.exodus.io/article/96-exodus-wallet-roadmap
[2] https://ledgerwallet.com

sabbathhawk

full member

Activity: 266

Merit: 106

Quote from: Atzinator on January 04, 2018, 10:49:07 AM

Hi there,

I am actually owning very different coins (600 XRP, 300 Data, 2 LTC, and so on) on bitfinex in my exchange wallet and I don't want to touch any of it the next 2 years. What is the best and safiest option for me what to do know because I read that the exchange wallet is not pretty safe but I don't remember why Cheesy

.

Thank you for your advice!

Hello there

You need to move coins from an exchange as it is not safe to hold coins there for a long time. Otherwise, you do not have the possibility to store them in another place.
XPR and LTC can be hold in Ledger nano s hardware wallet, it will be the safest option

Bitfort

sr. member

Activity: 952

Merit: 339

invest trade and gamble wisely

Exchange can be hacked and you can lose your funds. Thats why. Another problem is coins can be delisted in which case you lose them as well ( I don't think this is case of e.g LTC but less known coins can be delisted).

So if you won't be constantly monitoring their status I recommend you to move all the coins out ( you can use some multicoin wallet like coinomi ).

Atzinator

newbie

Activity: 6

Merit: 0

Hi there,

I am actually owning very different coins (600 XRP, 300 Data, 2 LTC, and so on) on bitfinex in my exchange wallet and I don't want to touch any of it the next 2 years. What is the best and safiest option for me what to do know because I read that the exchange wallet is not pretty safe but I don't remember why Cheesy

.

Thank you for your advice!

Topic: What to do with my portfolio on bitfinex? (Read 122 times)