Pages:
Author

Topic: What's Your Exchange to Wallet Ratio? - page 4. (Read 574 times)

sr. member
Activity: 1344
Merit: 459
Vave.com - Crypto Casino
January 07, 2024, 10:57:39 AM
#25
Some time dilemma when saving or holding bitcoin in wallet face problem with high transaction and take more than several days for withdrawing or deposit on exchange wallet, but another side when holding bitcoin assets in exchange wallet get worry until how long exchange site keep trusted before collapse such as many exchange have been scam like FTX. But I have trust with my local exchange although many time get problem with maintenance but I think most trusted to hold bitcoin assets for long term.

But not all my bitcoin assets hold in local exchange but also I put around 40% of my bitcoin fund in Binance exchange, I trust this exchange and have been seven years hold and trade cryptocurrency with Binance exchange.
legendary
Activity: 1722
Merit: 5937
January 07, 2024, 10:52:16 AM
#24
Up until December 21st I usually had few hundreds of dollars worth of bitcoin on Binance as I used their debit card. Since card is not working anymore, I withdrew remaining bitcoin to my hardware wallet meaning 100% of my crypto is now there.

Unless you are day trading or using one of the the other exchanges debit card, there is absolutely no need to have any crypto on the exchange but unfortunately many people don't understand that until they get rekt, and some not even then as I know some that have money stuck on both Celsius and FTX while they still hold large amounts on other centralizedexchanges.
legendary
Activity: 3080
Merit: 1500
January 07, 2024, 10:24:59 AM
#23
Does anybody leave a percentage of their BTC on the exchanges, or do you guys store all your BTC in your wallets, etc?

I usually do not support keeping your Bitcoins in the exchange wallets, but with the current surge in transaction fees forced me to keep a specific amount in my exchange wallet. I simply cannot afford to make multiple transactions with such high fees.

While this practice is not encouraged but sometimes we need to be practical as well. Ensure that your exchange login credentials are difficult to guess and also ensure that you have two factor authorisation enabled.
sr. member
Activity: 294
Merit: 433
HODL - BTC
January 06, 2024, 11:13:36 AM
#22
I did DCA by purchasing through the exchange of course some of the BTC is still on the exchange because of the withdrawal constraints with high fees so I let keep it there until the withdrawal is normal again.

Why do I do that, because it's a shame if you have to spend a lot of money on withdrawals, the money is still meaningful and it's better to keep it than withdraw it, I know the risk of storing on the exchange but it's not too much because the ratio is greater in a larger non-custodial wallet than the exchange.

I believe what others have said about the risk of storing BTC on exchanges, when something bad happens to the exchange where your assets are stored then immediately withdraw, but so far the exchange is still safe.
hero member
Activity: 1470
Merit: 555
dont be greedy
January 06, 2024, 08:18:10 AM
#21
I keep it in three different wallets, and one of them is an exchange wallet. It's true that I don't have full control over my balance there, but I still use the exchange service for a small amount of BTC that I own, allowing me to instantly sell and buy BTC.

For most hodlers, what I'm doing might seem a bit stupid, but I also hodl BTC in two of my private wallets (the amount is bigger than BTC in exchange wallet). So, I'm prepared for the consequences of my actions. Besides, for now, what I need is something only I know, so even though some people might see it as a mistake, it still feels right for me.

Everyone has their own individual needs, and everyone should understand and respect that.

hero member
Activity: 3024
Merit: 745
Top Crypto Casino
January 06, 2024, 08:06:58 AM
#20
Does anybody leave a percentage of their BTC on the exchanges, or do you guys store all your BTC in your wallets, etc?
When I was still new, I thought that it's okay to keep all my btc's in exchanges. But thanks to the people who have been concerned and endlessly reminding everyone that it's not safe to keep your BTC on exchanges, they've just learned their lessons from the cryptopia and other exchange debacles where most of the BTCs that have been deposited with them have never been returned or if they were, it took time for the retrieval of it. And that from then, I've learned that it's best to keep it on my wallet and that's what I've been doing and passing the info that I've learned from them to the newbies that if you're going to store some money on an exchange, make sure that they're just actually for trading and not for long term holding.
sr. member
Activity: 1400
Merit: 268
Fully Regulated Crypto Casino
January 06, 2024, 08:02:43 AM
#19
I never keep my BTC on exchange, however I will send my BTC to exchange if I need to cash-out. I used to send my BTC to exchange if I need to make payment using other crypto but currently with the high-fee it's cheaper to buy some crypto with bank card rather than sending my BTC and then swapping it to other crypto.

I think most people in this forum will advice you to not storing your Bitcoin in exchange wallet, and they are not wrong it's very risky, the exchange can just freeze your account or some hacker might stole the exchange fund. Storing your Bitcoin in your own non-custodial wallet is the safest way.
legendary
Activity: 1624
Merit: 2594
Top Crypto Casino
January 06, 2024, 07:22:38 AM
#18
Does anybody leave a percentage of their BTC on the exchanges, or do you guys store all your BTC in your wallets, etc?

Keeping all your coins on an exchange is kinda asking for trouble.  Exchanges get hacked and stuff gets stolen more often than people realize.  Use exchanges to buy and sell coins when you need, but don't treat them like banks.  Keep most of your holdings in a separate wallet that you control and  that way your nest egg is safer if the exchange goes belly-up. 

Exchanges are handy tools but they aren't meant for storage.  Use a secure wallet for that.  Transfer just what you need to the exchange when it's time to trade.  That's the smart way to go about it.  Minimizes your risks.  Keep the core stash safe in your own wallet that only you control.


I have a Trezor still sealed in the box, but I admit I'm intimidated in learning how to use it. Is ColdCard easier, or are they equal?

Why would you even consider another hardware wallet if you haven't even tried the one you already have? What's stopping you from using your Trezor hardware that you already own right now?
hero member
Activity: 1498
Merit: 785
January 06, 2024, 06:58:46 AM
#17
100% of all BTC is in a private wallet that I alone have control over, never leaving coins on the exchange unless exchanging and withdrawing them directly.

As many say Not your keys, Not your coins.
Remember that exchanges always have a risk of anything that could freeze your assets at any time, I recommend a private wallet as storage and no gratuity on exchanges.

Just use the exchange naturally, such as trading, exchanging coins etc.
hero member
Activity: 1442
Merit: 775
January 06, 2024, 06:43:04 AM
#16
My ratio:
0% in exchange.
100% in wallet.

Because exchange is only to trade, not as a place to hold your coins "Not Your Keys Not Your Coins".
I know it's not safe to store your coins on exchanges but 0%, it is unbelievable.

It's hard to find people who don't trade on exchanges and 0% trading in this market is very rarely to find people like this. Maybe you are different.

Decentralized exchanges can be one of choices for trading without storing coins on exchanges but they are not too convenient.

The only Bitcoin I leave on exchange is something I will like to use for trading, I don't like leaving anything on crypto exchanges but due to transaction fee I am now used to leaving some Bitcoin on exchange, not enough to hurt my feelings if anything goes wrong.
It's only good option now if you receive your bitcoin from signature campaign payment and know that you will need to sell it to stable coin or cash to use. If you know you don't need to touch those coin next like 3 months or 6 months, it's not a good option.
full member
Activity: 280
Merit: 110
Eloncoin.org - Mars, here we come!
January 06, 2024, 06:16:33 AM
#15
Does anybody leave a percentage of their BTC on the exchanges, or do you guys store all your BTC in your wallets, etc?
It totally depends on the situation and requirements. if I have the intention and plans of using Bitcoins in trading or P2P selling. I'll keep them in exchange. if I have intention of storing(hodling) them for long term then I'll transfer them to a safe none custodial wallet.
I also leave my coins in exhange if I had no long term plan of hoding. for example I don't want to trade them instantly but I want to sell them next month or after 2, 3 month then I keep them in exchange too.
I only use Wallet for long term holding.
sr. member
Activity: 728
Merit: 388
Vave.com - Crypto Casino
January 06, 2024, 06:14:34 AM
#14
The only Bitcoin I leave on exchange is something I will like to use for trading, I don't like leaving anything on crypto exchanges but due to transaction fee I am now used to leaving some Bitcoin on exchange, not enough to hurt my feelings if anything goes wrong.

I also like looking at mempool to know the exact amount required to send or withdraw some Bitcoin, like yesterday it was just $3 and it's been months that I saw this price range for Bitcoin last, whatever you choose to do always make sure it's worth the transaction fee, either sending or withdrawing off a crypto exchanges.
legendary
Activity: 3248
Merit: 1402
Join the world-leading crypto sportsbook NOW!
January 06, 2024, 05:41:58 AM
#13
Does anybody leave a percentage of their BTC on the exchanges, or do you guys store all your BTC in your wallets, etc?
I don't use centralized exchanges at all. So I keep 90% in my wallet, and maybe around 10% is on crypto gambling websites. When I need to exchange BTC for fiat, I use local exchanges where you don't store money but send it directly to a specific address when placing an order. This way, I get by without using centralized exchanges. I realize that keeping some funds on gambling websites is similar to keeping them on exchanges, but it's very convenient for gambling, so I'm okay with it. It's not a form of storage to me, it's just some funds that are there for gambling, so it's fine.
Keep in mind that wallets can also be different, and centralized wallets have the same issues as exchanges, so, of course, I assume that by wallets you mean non-custodial wallets.
legendary
Activity: 2576
Merit: 2880
Catalog Websites
January 05, 2024, 11:51:48 PM
#12
Does anybody leave a percentage of their BTC on the exchanges, or do you guys store all your BTC in your wallets, etc?
I would never leave a single Satoshi on an exchange. Usually I just leave some shitcoins that I buy hoping to sell them for a decent profit, so since I place a limit order I need to keep them on the exchange but, at the same time, their value is not very high so in case something bad would happen I can take the loss. Of course I don't use any small exchange.
legendary
Activity: 2576
Merit: 1860
January 05, 2024, 10:58:02 PM
#11
I have different amounts of Bitcoin kept in separate wallets but none on centralized exchanges. So the ratio would be 100% to zero. I don't trade anymore. There's no problem with Bitcoin users who are maintaining certain amounts of Bitcoin on exchanges for as long as they trade. If they aren't, their coins have no business on exchanges. Their funds should be pulled out. They are courting unnecessary risks.

I have a Trezor still sealed in the box, but I admit I'm intimidated in learning how to use it.

What's so intimidating about it? Trezor has all the guides on how to do it. Just make sure you're on their official site. Trezor's Learn page is comprehensive. It's complete from the most basic up to the more technical ones. It's probably more intimidating to make a paper frog than learn how to use your Trezor.
hero member
Activity: 2660
Merit: 651
Want top-notch marketing for your project, Hire me
January 05, 2024, 10:53:15 PM
#10
Does anybody leave a percentage of their BTC on the exchanges, or do you guys store all your BTC in your wallets, etc?
Yes, I leave some percentage of my BTC on exchange for emergency purposes or personal needs which could be loading of cryptocurrency virtual debit card with funds, and quick accumulation based on the opportunity presented by the market.
Meanwhile, the ratio is mostly 1/4 while sometimes it depends on the important is things which I planning to use the crypto for.
sr. member
Activity: 490
Merit: 279
January 05, 2024, 10:38:23 PM
#9
Traders would keep funds on exchange whereas holders keep funds in their wallets. The amount won't be disclosed by traders as it is their trade secret whereas holders will keep 100% of their Bitcoin in a noncustodial wallet. It is always recommended to keep Bitcoin in a cold wallet for long-term holding. As cold wallet provides a lot of security as it is not always online.
hero member
Activity: 1064
Merit: 843
January 05, 2024, 10:20:31 PM
#8
My ratio:
0% in exchange.
100% in wallet.

Because exchange is only to trade, not as a place to hold your coins "Not Your Keys Not Your Coins".

I have a Trezor still sealed in the box, but I admit I'm intimidated in learning how to use it. Is ColdCard easier, or are they equal?
Both are equal, you're still using someone else product. It's hard when you create your own cold storage from scratch. But Trezor is better than ColdCard because Trezor is open source while ColdCard isn't.
hero member
Activity: 2240
Merit: 848
January 05, 2024, 10:05:35 PM
#7
I still have some leftover bitcoin I bought early last year on an exchange.

In terms of the ratio, it's about 1.25% of my total amount of bitcoin.
sr. member
Activity: 966
Merit: 306
January 05, 2024, 09:06:54 PM
#6
Does anybody leave a percentage of their BTC on the exchanges, or do you guys store all your BTC in your wallets, etc?
Centralized exchanges give you a wallet too but it is a custodial wallet and centralized exchanges own the wallet private key, not you.

By saying "Store all your BTC in your wallets", contextually you meant it is non-custodial (self-custodial) wallets and you own those wallet private keys.

Reminder: do not keep your money in online accounts

Because of this risk and also risk from trading, that we should not use all capital for trading. Like using 10% of capital for trading to have good risk management, it means we should not store more than 10% of our capital on centralized exchanges.
Pages:
Jump to: