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Author Topic: Wallet vs Exchange  (Read 4015 times)
lampix
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July 07, 2017, 05:16:03 PM
 #41

Since I am trading a lot, I keep 90% of my coins on exchanges (Bittrex, cryptopia, livecoin, novaexchange). Then my other 10% on a hardware wallet.
The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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marcdeb
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July 08, 2017, 07:54:50 AM
 #42

If you have a hardware wallet, how often do you back it up ?
Is there more risk to have your online wallet hacked than to lose your hardware wallet ?
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July 08, 2017, 08:15:56 AM
 #43

A wallet is far more secure than anything else! Just remember this and don't keep anything on an exchange you're afraid to lose. Smiley GL
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July 08, 2017, 09:41:53 AM
 #44

If you have a hardware wallet, how often do you back it up ?
Is there more risk to have your online wallet hacked than to lose your hardware wallet ?

If you lose your hardware wallet you can restore your coins using a mnemonic phrase of 12 words. When you start the hardware wallet for the first time you have to write 12 words on a paper and store this paper on a safe place, in case of lost you can restore all the wallet.

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July 08, 2017, 01:33:28 PM
 #45

90/10 for wallet/exchange.

Never store your coin on exchange.
graysoon
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July 08, 2017, 01:37:10 PM
 #46

Ok,

my question is, how much coins you keep in wallet and how much on exchanges?

Is it like 50/50 or more like 90/10?



I keep my coin almost 90% on my wallet, the rest in my online account. I just used my exchange accounts if I need to make withdrawal to fiat money. Because anything can happen if you trust an exchanger..
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July 08, 2017, 03:39:37 PM
 #47

i keep my wallet online,.. online wallet is very secure for me,..can't open without verification sending my email address... i don't know the wallet is secure because can't already...

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July 09, 2017, 06:04:41 AM
 #48

70% in the stock 30% wallet,
The profit from the market will be send to my wallet
profitgenerator212
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July 09, 2017, 07:12:46 AM
 #49

Ok,

my question is, how much coins you keep in wallet and how much on exchanges?

Is it like 50/50 or more like 90/10?



More like 99% to 1%

Only keep money on exchange when you directly have to trade coins, like the trading part of your portfolio.

The rest of it on offline computer only or hardware wallet.


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BenR
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July 13, 2017, 09:11:16 AM
 #50

OK then, I will have a look soon, before 1st au.
Do they charge any fees when moving the coins to the wallet and back? Huh

PS:Thanks!!

yes, every time you transfer you pay a fee
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July 13, 2017, 10:20:43 AM
 #51

Choosing between a Wallet or an Exchange will come down to what you intend to use your bitcoins and how frequent you will be using your bitcoins and for what purpose. For a user like me who trades less 90% of my coins will stay in my wallet for easy access and the rest can stay on an exchange, then for users who are day traders more coins are likely to be stored on an exchange for faster trade executions.




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CoinTek
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July 13, 2017, 12:38:09 PM
 #52

definitely keep in cold storage at least 90% of your bitcoin or whatever cryptocurrency the rest in a few exchanges that you want to trade in... just so many wallets in exchanges being hacked....
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July 14, 2017, 11:34:58 PM
 #53

If you are not a trader then of course a Wallet! If the exchange will be closed, then you probably will not see your coins any more.
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July 15, 2017, 06:23:00 PM
 #54

Ok,

my question is, how much coins you keep in wallet and how much on exchanges?

Is it like 50/50 or more like 90/10?



People should just keep as much on exchange as they feel like it's worth the risk. Exchanges get hacked all the time, it's your choice how much you want to risk.

I think it's like 80-20%, the 80-20 rule is very important. Keep 80% in safe place and 20% in a less safe, risky place.

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July 15, 2017, 06:37:21 PM
 #55

Ok,

my question is, how much coins you keep in wallet and how much on exchanges?

Is it like 50/50 or more like 90/10?



People should just keep as much on exchange as they feel like it's worth the risk. Exchanges get hacked all the time, it's your choice how much you want to risk.

I think it's like 80-20%, the 80-20 rule is very important. Keep 80% in safe place and 20% in a less safe, risky place.
You got the point there are people are just want their bitcoin to stay in exchange site that actually risky to do anytime there are trading site or exchange site can be hacked just like the other exchange site.. The traders reason that is why they are keeping their funds into exchange because the fee is really high so if they keep their funds in exchange site they can be less fee to pay..
unlike other people that they are transferring their funds into hardware wallet just to make their coins safe.. Right now we should put our coins into hardware or desktop wallet which is safe just like theymos said that its not safe to before segwit to keep our coins in exchange sites.

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July 16, 2017, 02:05:42 AM
 #56

Ok,

my question is, how much coins you keep in wallet and how much on exchanges?

Is it like 50/50 or more like 90/10?



i don't save my coin in exchange at this moment because in my opinion it's not safe for long periods. but several months ago i ever put my coin there, as far as i remember about  80% on my wallet and remain i put in exchanger.


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July 27, 2018, 11:08:15 AM
 #57

there is a very fine line of difference between an exchange and a wallet, a wallet is where you store your cryptocurrency or get bitcoin, an exchange platform is where you trade your crypto coins in the turn of the other altcoins in the market
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August 03, 2018, 07:06:26 PM
 #58

What you prefer over an exchange platform or a wallet totally depends upon the type of investor you are, if you are a long-term investor who closes to no exchanges then wallet is good for you otherwise the exchange platform is the best option for a day trader

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August 03, 2018, 10:22:28 PM
 #59

My opinion is that i hold most of my cryptocurrencies as follows -
1. Bitcoin i keep in the exchange, which has been verified for several years and i have complete confidence in this exchange.
2. Alts - 50/50
3. Tokens - all in the MEW wallet. Keystore/JSON File Backed Up.
If you have a large number of cryptos you should definitely keep them in a safe form, such as Trezor wallet or Ledger wallet. And you should have privkeys of your wallets backed up somewhere away from the computer.
I'm not a big business trader, but if you have big investments, you should watch for the greatest possible safety.

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August 03, 2018, 10:56:51 PM
 #60

Guys please don't bump a thread that's a year old and inactive if you're about to say words that has been expressed already.

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