Bitcoin Forum

Should we put our money in the exchange or in our own purse?

I think everyone has their own opinion, and old users will take money into their wallets.

But novices don't always know how to do this. They only buy and sell COINS on large platforms.


Just last September, when China said it was closing down its trading platform, everyone started selling COINS and withdrawals, and there was basically no currency on the platform. Currency prices have soared in more than a month.

Does the mention of money in one's purse have anything to do with the ups and downs of the market?

Basically based on the low price of the market many of them are withdraw their money because they are thinking it will loss more but its not a good decisions because if you hold now you can get better profit in future also this will give a healthy benefits after few days later.

The main thing is true invertors or who understands this crypto currency market they won’t gonna withdraw because of they know after few days later this will increase soon and the price of crypto currency already start to increase based on this june the market are recovering. Most of coins price increased.

I think when there is a lot of withdrawal and there  will be less available coin, there  should be increasing in coin

Every decision that is taken in panic is always wrong. Blind actions in this type of market i.e. bitcoin or stock markets always proves to be a big loss to the person doing so.  
When people just follow rumors and buy or sell then it creates panic. and as a result the  effect of such panic converts the move from bad to worst.

Crypto currency market is for long term. So, it's better if you can hold your money because the price will increase very soon, you would be able to sell it at that time.

One major thing that cause bearish in the market is increase in number of those pulling our cash. When investors see people pulling out they also get panic and start pulling out as well thereby causing more bear market.

This will basically fall under the Law of Supply and Demand. Here's a link to understand a few things about it.

https://www.investopedia.com/terms/l/law-of-supply-demand.asp

But it also depends on how popular or efficient a coin is.

Yes, it's rare now that people keep their crypto assets in the wallet for a long time, all they do is buy when the price is cheap and sell when the price is high, when the balance is in the wallet then they will immediately pull it into fiat currency.

Yes, may be it will have an effect to the market but if only one person will withdraw and sell their bitcoin it will not affect so much. When people starting to have an panic selling because they notice that the value of bitcoin will continually decreasing it is now the time to have a big effect to the market.

We need to understand that the reason we withdraw money is that it is the right decision or just instant thinking if we fear it does not want to take it and lead us to withdraw money we will regret it If not considered.

Uncertainty in crypto is high, but if there is no urgent matter to use the money then it is better to stay the money in crypto currencies as there will be a possibility to increase later. There is still hope to see better price and earn profit rather than withdraw presently with bloody loss.

I think it can increase the market but no assurance as this market is so unpredictable.

It indirectly affects the market. The prices of this cryptocurrencies are largely dependent upon the demand and supply of this coins. So, this might be one of the cause of the price soaring.

I think with so many people attracting investments in the market then it will bring down the market because everyone making withdrawals means a decrease in the amount of crypto volume that is traded so that the price increase in the market will experience slowness that will cause few people willing to invest in that market .

everything has its own usages and there are times you keep coins in your wallet and there are times you do it on an exchange. if you do it for wrong reasons then you are making a mistake.

a wallet is obviously is to "store" your coins. cold storage for long term and extra security and hot wallet for short term and the money you need to be available to you.
exchanges are used for trading and nothing else if you store coins there you are making a mistake but sometimes you need to keep them there for example when you are trading, you keep them in an open order or keep some shitcoin ready in a stop loss order to dump immediately if the dump started. or sell it before the pump ends to secure your profit.

I don't know what you are talking about. all I remember is that there was a lot of drama about China. they announced closure of their exchanges and because of the panic bitcoin price dropped, it had little to do with Chinese themselves and whether or not they withdrew anything.
then the price went up because bitcoin was on the rise before the FUD and nothing can slow down bitcoin's adoption for long.

We always have to keep our coins in our wallet if we don't have any intention of trading them in near future and I don''t understand the title and your statement clearly,If I am understand right the number of transactions don't have any effects of the price of crypto currency it is all about the buying and selling if you are withdrawing your own money you just have to pay the fee.

In every market, they are what we called supply and demand in the market, which is applicable to crypto market trading platform, which fall in demand, which we see as demand process, yes it we affects the market falling, if the supply is not strong.

might be it will have an impact to the market however in the event that just a single individual will pull back and offer their bitcoin it won't influence to such an extent. At the point when individuals beginning to have a frenzy offering since they see that the estimation of bitcoin will ceaselessly diminishing it is currently an opportunity to have a major impact to the market.

Yes, this is the reason why bitcoin price is unstable. I think withdrawal will not increase the market, it will decrease maybe. I am not sure as I am still new to crypto world and still learning a lot from cryptocurrencies.

Since the market is not stable and a big incident in Coinrail has happen few days back, I think, it will be better to keep all the coins in private or offline wallet. Through the way your coins security can be assured.

Yes, it does matters. if everyone holds some amount of coin from the total cap then it will increase the rarity of the coin which will eventually raise the price of the coin. But it can also be helpful to withdraw some funds now because many people are still relying on these old methods including me. So we want to see can market will react to these changes. None the less no one is actually losing any coins from their pocket as everyone is taking precautions and very less amount of population here are really taking the risk.

Having you coins on exchange wallets is only useful for people who are trading, who need the transaction to be done at the fastest time possible because in this market every second matters and every second costs money, so what use of having your balance on the exchange wallet if you are not going to trade it , if you are going to hold what not keep it on your external wallet to keep it safe.

So technically, you will be limiting the available supply for traders to work with, and in theory, the lower the supply is, the higher the price will be, though that also needs the help of demand which is I think a more important part of the equation, This might work, if the demand available for bitcoin is extremely huge, and the current hype about the coin is present. You need to consider a lot of factors in order to make a price bump before limiting a coin's supply. There are already too many hoarders at this current time yet the price isn't up. Why? Because there's simply no demand yet, and it will remain as is until someone starts buying in heaps and significantly move the price up.

Cryptocurrency is for long term investments. Exchanging your bitcoins now because it's dumping is really a bad idea. You should hodl your coins for long term because we know that bitcoin will rise again. Withdrawals cannot increase the market. It's the investors.

Of course, holding your coins in your wallet will affect thé market.
The best thing is to keep trading (selling and buying) but always keep your money safe by withdrawing your coins to your external wallet when you are not intending to sell them.
Many exchanges got hacked and many were shuted down by governments.

I think this will depend on the popularity and cost of crypto currency, and they promise us a price increase