Topic: Where do you stake? Exchange or wallet? - page 6. (Read 680 times)
Considering the simplies method and the safety of your asset then you must go on staking on your own wallet rather than staking on any exchange site, but I have some altcoin like xlm, algo & trx that I staking on Binance exchange site that I can get free altcoin every month not too large but this is okay for me.
for simplicity, I prefer exchange. in my opinion as secure, our assets will not be stolen. risking our money on the exchange will make it easier for us if you will later buy coins or save them. while the wallet is for storing only.
Well it is a simple question, if you are prioritizing your own safety then you must consider to stake them on your own wallet because you hold the private keys unlike exchange, the management holds it and if the exchange got hacked your funds will be stolen as well. And to take note that other teams runaway and do exit scam.
Considering the safety of your coins and the simplicity of staking process, do you stake in centralized exchanges or you consider using crypto wallets that supports staking like imtoken, trust and atomic wallet.
Where do you stake?
I think the safest exchange to stake on may be Coinbase but even then, I wouldn't put my whole stash into one pot on a centralized exchange ever. Another exchange that offeres a much wider staking option for on exchange staking is Binance. Where do you stake?
I think the single best and safest option for staking would be in a wallet where you and only you have access to the private keys. An exchange, whether centralized or not, can still be hacked, jeopardizing your coins.
it is advisable to keep and stake your coin in your wallet because you have full control over your wallet. just recently we heard about a hack and an exit scam attempt from upbit and idax, what will happen to your coin if the exchange that you choose to hold it goes wrong just like upbit and idax?
this is why you need to hold it in your wallet.
this is why you need to hold it in your wallet.
Considering the safety of your coins and the simplicity of staking process, do you stake in centralized exchanges or you consider using crypto wallets that supports staking like imtoken, trust and atomic wallet.
Where do you stake?
Where do you stake?
Using an exchange is too risky, ofcourse there are big exchanges like Binance where you can stake. I prefer using a wallet and stake my alts because I have access to my private key. On Big exchange you do not. The most important thing in cryptocurrency is your Private key.
Best answer is our wallet because we still have control but in exchanges no, sometimes system got error and we loss without can recover. Some exchanges already have stake program but if you keep in exchanges it will use to manipulate others members. So the right answer is wallet and I believe no one will stop you to stake in there.
I'm safer storing my assets in a personal wallet although there are in some exchanges but for the long term I have locked the assets in the wallet and the key has also been stored in a place was never reached for old age
Exchanges are meant for trading only, if you are going to use them for staking then you are in risk of losing funds.
You’re wrong at this point, there’s a lot of exhange that give you bonuses or rewards for staking specific coins at their platform. And if staking at exchanges means a risk of losing funds, then there’s also risk for trading there. Risk can be found if there’s a risky situation made by the exchange. Ex : Th exchange has bad issues regarding trust. There’s few of them, but issue stays issue. But regarding funds, issue needs to be taken seriously.
I prefer to keep it in a personal wallet like a hardware wallet or have a private key to access the assets that I have. there is no safe place, but we must be more careful in taking steps, I remember with the words of someone that evil never sleeps. Even what happened lately many crypto exchanges are hacked, especially in Korea. If you want to trade, prioritize looking for exchanges that have strong security and large volumes. Long-term hold is not recommended to store on the exchange, it is better to be stored in a personal wallet / hardware wallet.
Its always riskier to stake in exchanges. However I am staking my TRON in Binance. Till now it works for staking as well as all airdrops. But I do have bad experience as well with exchange staking. That exchanged is closed for ever now.
Where do you stake?
I prefer staking BNB on binance, which means staking at exchange is my option.
Exchanges are meant for trading only, if you are going to use them for staking then you are in risk of losing funds.
You’re wrong at this point, there’s a lot of exhange that give you bonuses or rewards for staking specific coins at their platform. And if staking at exchanges means a risk of losing funds, then there’s also risk for trading there. Risk can be found if there’s a risky situation made by the exchange. Ex : Th exchange has bad issues regarding trust. There’s few of them, but issue stays issue. But regarding funds, issue needs to be taken seriously.
Of course inside our own wallet, many things happened with the exchanges these years and more importantly they are a target of the hacker. The probability for them to screw you is bigger than holding it on your own, I do not have any trust left.
Remember what people said, you do not have the keys that mean you do not own the coins.
Remember what people said, you do not have the keys that mean you do not own the coins.
Wallets were created for storing purpose, so if you are going to store your token or coin then pick the right wallet which gives you private keys.
Exchanges are meant for trading only, if you are going to use them for staking then you are in risk of losing funds.
Exchanges are meant for trading only, if you are going to use them for staking then you are in risk of losing funds.
Considering the safety of your coins and the simplicity of staking process, do you stake in centralized exchanges or you consider using crypto wallets that supports staking like imtoken, trust and atomic wallet.
Where do you stake?
Where do you stake?
Jump to: