Bitcoin Forum

Guys, I am new here and have a general question. I currently have 100,000 TRX tokens in binance. They change value every day as we know its fluctuating between .059 to .090 My question is that should I leave my TRX tokens in the binance exchange and watch there value go up and down or move them to a wallet (hardware wallet).  Lets say if i move them to my wallet and a few months late TRX goes up to 0.90 cents. Would I be able to transfer them back to a exchange and cash them?

If some one can clear it for me in easy words i would greatly appreciate it. I invested $5900 in TRX so far and been reading about it.

Thanks guys !

To answer your question, you can easily move them in and out of a wallet it will just take a little bit of time and a small fee to transfer your tokens. The decision then between where to hold them comes down to a balance between security and easy access. A hardware wallet is much more secure but you cannot access your tokens immediately, therefore if you want to be able to buy and sell in an instance then you should leave them in an exchange.

It depends what you want)
If you want to hold your TRX and you believe that it can rise in 1 year for example, so move ones to hardware wallet. It's more safe. You can transfer them back any time.

Unless you plan on selling fairly soon then you need to move them to a wallet as its much safer. When you want to sell them you can easily move them back to the exchange however you will pay a small fee for doing so.

Offline wallets are the most safe and reliable way to store your token (also known as cold storage). At the same time also the more uncomfortable as it takes time and effort to get the tokens from the offline storage to your exchange. On the other hand exchange wallets are very unsafe and risky, however if you want to trade quicker it's definitely easier.
Ultimately it depends on which strategy you're going for: trading or holding.
Regardless it's always safer to keep the tokens in a wallet if you can.

You shouldn't leave any coin on an exchange that you're not planning to trade anytime 'soon.'  Defining soon is completely up to you... is it a few hours, days, or months?  For me, I don't leave anything on an exchange that I'll likely hold for more than 2-months.  It's also a function of how much this TRX is of your complete portfolio.  If it's a 100% then you should take it off of Binance; if it's only 5%... then let it ride.

I have also stored TRX at Binance right now. Unfortunately, the fees for a transaction in my opinion are too high. I think at the moment the fees are about 150 TRX.
That means I pay 150 coins for a single transaction. I find that very shabby of Binance. I'm waiting for the fees to fall back to 30 coins and will then transfer my coins back to my wallet.
Fees will drop once the price of TRX rises again. Actually, I do not want to store my coins on an exchange because it is too uncertain for me.
But Binance forces me unfortunately by the clearly too high fees. If the exchange is hacked, I could lose all of my coins without being compensated.
I can only advise everyone against storing coins at a third party (e.g. exchange). The most important thing is that you own the private key.
You do not get a private key from an exchange, which is why I see it as a security risk.  :-\


But with your invested sum ($5,900), I can only advise you to immediately transfer your coins to your wallet so that they are safe there. 150 Coins more or less currently do not make a big difference with 100,000 Coins. It is also important that you HODL your coins and do not panic sells them. If your coins are on your wallet, it can save you from panic sales.


I agree with you 100%, but as I wrote Binance demands too high transaction fees (about 150 TRX).

If your planning to trade them soon, it's okay to leave them in the exchange. You just have to log in then trade, less hassle. A piece of advise is try to read reviews about your chosen exchange. Make sure that there's no bad reviews about it. There are reports that some people loose some of their coins in an exchange.

There are trade-offs with either approach. Keeping coins in your own wallet keeps your risk
low but then there is the price to pay for transfer to and from fees while selling. I think keeping
coins for long-term hold is better in your own wallet while keeping trading positions on exchanges.

In future, wallets will come that will support direct selling or swapping of coins from wallets
that will make it real simple.

Good question. Did you know that Exchange are risky to save your tokens/coins? I recommend you to keep your coins in your wallet, transfer it from exchanges to their web wallet so what happened to Binance exchange you can easily access your wallet.

You can transfer your TRX from binance to any of your wallet be it MEW or any hardware wallet. Then when you want to transfer it back to exchange you can transfer it very easily but you must have some ethereum in your wallet to cover the gas price(fees).

Tron made a bunch of people angry since the dump on Bitcoin. You have to watch out for that stuff when investing in the newer altcoins.

Moving your tokens to an offline wallet is more safe especially when it comes to the issue of security, so if you wish to hold your tokens, this will be better alternative unless you intend selling your tokens now.

i always choose wallet instead of exchange becouse i heard many exchange close thats why all my coins if possible hold your coins on your wallet or there is lots of coins has special wallet like deeponion if not use usb wallet

Leave the coins on the exchange if you want to trade them in the near future, otherwise withdraw them in case the exchange gets hacked and you lose all you coins! It does happen, even to the big ones so be prepared. However, lots of malware now will target desktop wallets so in any case you should split your coins into different areas.

Yeah anyways i prefer to hold them all on my wallet.
It is not because i have paranoia about that.. it is just that for me, it is much more risky to have all your coins on an exchange, what if it disappears?

If your intentions are of holding your coins for a long time then there is no point to leave your coins in an exchange, an exchange as the name implies is a place where users can trade their currencies for others and try to make money that way, since you do not have a desire to do that then the choice is obvious withdraw your coins and store them in an address of which you are the only owner of the private key.

wallet and exchange is something different but has an equation, which is the wallet is where to store altcoin (like TRX you have), whereas exchange is a place to exchange coins you have like TRX you have to ETH, so if you save in wallet or exchange your coin value (TRX) is the same value (the price). my suggestion is better is your TRX keep in binance, because if you move to wallet and when the price goes up you move again to exchange (binance), you will loss because you pay 2x fee, which is where you first transfer your TRX from exchange (binance) to wallet, and the second when the price rises you transfer your TRX from wallet to exchange (binance).

there is no harm in storing your trx in the wallet hardware. But you first research about the coin. whether there is a good chance for the future. but you should often update information about the coin. so you can make a good decision.

yes you can, and it will not change your TRON number for a long time
but keep in mind that up and down in the crypto is hard to beat,
I took the example of BCC, a few months ago BCC always occupy the top position in coinmarketcap, but since the announcement that the platform will immediately stop its service, the investors lose confidence, so investors sell all BCC coins that cause the price dropped dramatically to 300% 1 hour only

Assuming plan on holding your coins for a while, I'd recommend investing in a hardware wallet. They're much less expensive than they used to be, and are a much safer alternative to holding on an exchange. You will also be able to send them to an exchange when you want to sell them without much difficulty.

Most people will choose replace their money ( coins ) in wallet and remove to sell at exchange when the price comes up ( reach your take profit number ). Actually, it's about your mindset, what do you need and is it safe?. There's no safe but we can only minimalism the risk. Don't worry about transfer ( receive - send ) activity, at this moment exchange or wallet can support it. Just take what you need to keep your account ( wallet/ exchange ) safe and have a nice day.

If you're swing trading them than just leave it on the exchange.  If you're just holding them there in replace of having your own wallet, then that's not recommended.  

if you plan to hold it for a long time then i suggest you get if off the exchange. But if you in for trading then you can leave it on exchange

I think a combination of Keeping coins on both exchanges and wallet is important. Of course, cold wallet storage is the safest bet; recommend the Ledger. However, it’s a good idea to keep some emergency funds in the exchange. If a coin start to tank, most exchanges don’t permit deposit.

it is much better to transfer you token on you wallet (hardware wallet) for more secure purposes because stoking it on exchange site has a risk. while in your wallet has not. if you are waiting for the big change (pump) and you wont do any trading activity everyday, it much better to move and wait your token to hit your achievement price.

If you are not active traders, you probably should keep it in wallet, otherwise, keep it on exchange

As for my views if you invest in low price and have your token with you. I think the good suggestion of mine is 'don't sleep' :) . Watch the price to increase then go and sell it if you want to sell it to have profit.
Let me say this is just my idea on what I see your situation  ;). And you should be strong to hold it until to increase the price of your token.

This will depend on your investor profile.
If you are a long-term investor, it is advisable that you transfer your tokens to your own wallet and a hardware wallet such as Ledger Nano and Trezor are the best options to keep your tokens safe.
But if you are a short-term investor who wants to take advantage of market volatility and pocketed profits as soon as the value of your token reaches a certain price, the option of keeping tokens in an exchange is better.
You gain with agility of being able to negotiate them immediately without having to wait for the transfer of the tokens from your wallet to an exchange.
However, this alternative should only be adopted with exchanges with a higher level of security.

If you're planning on holding certain altcoins for a longer period of time, it's advised to keep them in a secure desktop or hardware wallet.
You're always running the risk that the exchange gets hacked or that they'll disappear with your coins.

I would like to have 80% assets in the wallet and 20% in exchange, So you can play around with the price and trading, and take risk if needed. Rest of 80% will be locked up in the wallet for long term investment. But it up to you, if you are day trader, then you might want to keep 70% on exchange, but it bit risky, but you gotta take risk to earn profit.

The time that will be wasted by putting your wallet in an hardware wallet is your concern when TRX starts to pump. But keeping that much of coins worth in $ to exchanges is highly at risk.
Yes, you just need to pay some fees but that's very tiny. If you prefer the long term holding then don't keep it on exchanges and just transfer it back to binance if you need some cash.

It is always better to secure your coins that's why storing it in a hardware wallet would be the best choice. There is always a risk that the exchange can be hack the same with what happen to Mt. Gox years ago that's why those in the crypto during that time always suggest to not leave the coins in an exchange because of this risk. If you want to trade it for the short term though then you have a choice to just leave it there but if you hold it for the long term then better transfer it to a wallet.

Never put that amount in binance 100,000 TRX is worth 0.617 BTC's currently. Missing the waves of moving with every single sats with that volume of coin is a big loss if ever a trader will have time of transferring it. But that's not a problem if your security, I mean your funds security is at risk. Better to experience the hassle and take time to effort when sending your TRX to binance just for selling. But if that amount to you is acceptable to lose when something happens, it's up to you.

The exchange is a necessary evil. There is no doubt that keeping coins in your wallet, you keep them safe. But then they will be dead weight. And they don't have to be. But no one will insure you from a Scam exchange. So there you have to make a decision at your own risk.

Exchanges are never good for long time holding, even they are not good for short term holding but we have to take risk for trading. Best thing is to save in hardware wallets.

If you dont have any plan to trade it in the near future,you should put your holdings in a hardwallet just to be safe.Because exchange accounts might be compromised so it is not advisable to use it as your wallet.Do not risk your holdings in exchanges if you are not going to trade these coins.It is better to be safe than sorry.

If you want to trade then you are better to leave them in the exchange. If you want to hold them for a long period then the safer choice is to keep them in your own wallet. You will have to pay a withdrawl fee to Binance to take them out and then in the future when you want to deposit again you will pay a network fee same as any other transaction.

I think you need to listen to those guys who are advised to keep their investments on a cold wallet, from which you have a password! I think everyone remembers the collapse of some of the major exchanges, and from this or who is not zrtkrahovan in the future. Now there is a large-scale regulation of this market by the states / countries, it may turn out that some exchanges will be forced to close, and I'm afraid that our investments may as well disappear! Be cautious and it is better not to keep a lot of money on the stock exchanges!

If you have hardware wallet then it's certainly better to move the token there as it is safer, exchange is not a safe place to store your token as there will be risk of getting your account blocked / hacked etc. For the second question, if you want to sell then just deposit the trx back to binance from your hardware wallet and sell it then you can cash it out, as simple as that. It's better to move your asset to your wallet if you plan to hold long, the only reason i leave my coin in exchange is when i want to trade with that coin/token.

Exchange good with feature storing many currencies in one place, but wallets controlled by only you.
I am prefer create many wallets and control myself my moneys

In this comparison, I think the best variant will be to keep your money in your wallet, and it is advisable generally to buy separate devices that are specially created for this purpose to store bitcoin on them,

Yes you be able to sent back to an exchange. better to store your coin in the wallet than exchanges
because the wallet you have the private key and you can control your coin there.

Normally, you keep your coins to the exchange only if you trade regularly. If you buy and sell these coins many times a day or week, it would be better to keep them in the exchange. You will pay fewer fees for your transactions.
If you want to hold your coins for long periods I'd suggest you send them to your cold storage wallet for more safety.
We all know what happened to MtGox a few years ago.

6000$ is a good amount of money. if you are planning to hold your tokens for a while than you must buy a hardware wallet instead of holding them at exchanges.
Exchanges are always risk to hold your tokens and coins get them to your hardware wallet as soon as possible

wallets (except online wallets) are always quite more safe comparing with exchanges. we have witnessed many issue about those centralized exchanges before. But on the otherhand exchanges are the only way to set a stop limit.

The minus of hardware wallets is that if you want to sell, you definitely will not get the highest price.
But the advantages, your coins are more secure than stored in the exchange

You should consider how long you want to wait for the value of the token to go up, if it's more than 2 week I suggest moving your trx to hardware wallet as you have them and it's definitely more secure than leaving it in exchange. The downside is you have to be quick to move it back again to catch the best price to sell, or you can even miss a sell opportunity because the deposit takes some time.

take it into hardware wallet.but it takes small fee for the transfer but ur invest is safe.if it go on high price and u think that is time to sell take them back to exchange to sell.to store in exchange is not safe I think.

The safest place to keep your coin/token is your hardware wallet. An exchange can be hacked any time and if you want to take profit you can transfer the token/coin back to the exchange. There is no rule stopping you from doing that.

Yes, you can deposit them in the exchange in a few months.
But please note that your private key is saved, and the TRON is based on the ETH's token, and then it may need a certain ETH, about 0.0001.

You can either save it on exchange or wallet if you put it in your wallet there will be a transaction fee and just in case in the future you wanted to exchange it for profits you will need to go back to exchanges again and it will have additional fees. In any exchanges even it's top platforms there is a chance that it might target by hackers. And that your investment might get lost as well so if you're into long term investment i would suggest to save it on the wallet for safety purposes.

Ledger nano will be the best selection for that since if they trust those exchange and it end up hacked then they will lose their money for that and I'm sure exchangers will never issue an refund since they will wash their hands for that scenario. We should send the coins we wish to trade and that can make us safe for any site vulnerabilities.

I prefer to store all my cryptocurrency savings in my external usb wallet. I think this is the safest way. This place is least vulnerable to hacker attacks and viruses. If you haven't usb wallet yet then set it surely.

You should have majority in wallets, because you'll never know, when exchange will stop operationg, or someone could steal all those currencyes that you have on exchange...

Wallet is self holding but where exchange is fearful holding coins exchange have high chances of technical issues

If you transfer your coins to a wallet then yes you can exchange them later by transferring them back to the exchange. Keeping your friends in an exchange is risky because they can easily get hacked are the funds can get stolen which is really happened many times. And exchange charges us fees for every action you do such as making a buy or sell trade or making a withdrawal or deposit request.

It had been always the wallet which is the safest for me.
Look, an exchange can always close and when that happens how are you going to deal with it?
If they run you are already lost. Except if you are a rich guy who can somehow make its way to pursue them.

Happened before and we should have learned this lesson.
I dont have the links but you could always google those trading sites.

Wallet are a safer place to keep your tokens . Move them to an exchange when you want to sell. You are the only one that have access to your private keys but with an exchange you can be scammed and you lose your coins