Wallet vs Exchange

[Diced90]

I only transfer bitcoins to an exchange when am in need of other altcoins as it's been said to be risky to store bitcoins on such platforms unless you are a day trader.
A wallet you have access to the private keys should always be prefered for holding purposes or general use.

[Shinpako09]

Way back 2015, i'm storing my btc in local exchange wallet but after I heard that they will locked your accounts and hold your btc if they found out that your btc came from gambling, which is against their rules. I don't store anymore my btc in exchange wallet because of fear that it will happen to me because most of my btc is mainly from gambling. As well as you don't have a control on your wallet, you don't have a private key on it. There's also a chance that exchange could turn into scam, could be hacked, etc. Unlike the one i'm using now which is mycelium wallet, way better.

[que91]

Depending on the purpose using, with me deposit 80% BTC on exchange and holding 20% on Wallet PC. Because I'm a trader and always need BTC for buying altcoins cheap anytime, if keep on Wallet PC, very difficult when send BTC to exchange and need time to confirm transaction, sometimes waiting that will miss opportunity "shopping" time =))

[LTU_btc]

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?

In depens what you are doing with your coins and how much do you have.
If you aren't trading and just holding bitcoins, it would be best to keep ALL coins in a wallet. If you are trading, keep on exchange amount of bitcoins, which would be enough to trade.
I'm not serious trader, so I'm only keeping less than 10% of my bitcoins.

[machinek20]

It is safer to keep your coin in your wallet, exchanger is not a good place to store your coin, unless you are ready to lost it, I kept 10% of coin in exchanger for trading purpose, and all the profit I made, I sent it to my wallet, I never put too many coin in exchanger

[negancoin]

I store my BTC on exchange now to avoid fees.

[keyscore44]

I store my BTC on exchange now to avoid fees.

If it is little amount ofcourse that's ok, but if someone have a lot of cryptocurrencies it is very dangerous. We have many examples from past that even very trustable exchange can be hacked or just rob their clients.

Question about % of that what you keep on exchange or in your wallet depends from that for what you need this crypto, and how much you own. Traders usually more of their coins keep on exchanges (but not on one exchange - less risk). If cryptocurrency is your investition, for sure you should keep 99% or even 100% in secure wallet.

[ximply]

For small amount of coins you can store it in exchange so you can make use of the trading platform.

If you are investing heavily on coins and looking forward to grow it and keep it in a safe place then you can put it in a paper wallet also know as cold storage. 

But if you want better than paper wallet which will allow you not just to store it safely but also gives you the ability to transact safely then you need to get your self a hardware wallet like Ledger Nano S for it will make you save your bitcoin, altcoin, and even ripple and ether.  No matter what happen your coins is safe with you for you keep your own private keys. Its malware proof so really safe and you will have your peace of mind for a small amount of money to store your coins.

I bought mine for i really like bitcoin and just like the concept of decentralize, i dont want anybody keeping my bitcoin for me.  i alone will have access to my coins.

Here is the link if you want to check out this amazing hardware wallet: https://www.ledgerwallet.com

[ICObox]

It all depends on the amount that I keep and future goals!
Small amounts that you plan to use in the near future, it is better to store in exchanges! Long-term storage of large amounts is better in wallets!

[morenomunozdelanava]

And would you recommend Electrum? Or do you have a different favourite? What are the prons and cons? I´m looking to transfer everything to a wallet before Aug.1st just in case... 

[ViceOfBTC21]

I store my savings Bitcoin in paper wallet. I store my coins in computer wallet max. $1000.
If I will get over this, I immediately either sell or send back to $1000. On phone $250 and $50 on online wallet. On exchange I keep bitcoins when I trade and when I don't trade I don't keep them.

[ecnalubma]

I tend to keep my bitcoins on web wallet than exchanges I'm not an investor type and I regularly cashout my bitcoins for general purposes and expenses. I haven't encountered difficulties in my current web wallet and its very convenient for me use meanwhile exchanges had lot of issues for me and doesn't fit my lifestyle.

[Termin4tor]

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?

Basically, I dont keep much on exchanges / Online wallet for the sake of security and peace of mind. A hardware wallet such as trezor and ledger is always recommended to store bitcoins and is the safest choice.

Though, when I do use an exchange for trading purposes, I make sure I withdraw the funds immediately to my hardware wallet. The only thing which I feel like a problem is that 90% of the altcoins are not supported by these hardware wallets so sometimes I am forced to keep the funds on an exchange.

[joseafonso123az]

I prefer letting everything secure in my wallet ! I only leave in the exchanges  the coins that I think I will need for exchanging, and not all of it !

[skyline247]

Technically, you should only use exchanges if you actively do business on them (i.e. trade, etc.). For example, I keep "a bit" on LocalBitcoins in case I need to sell some fast or whatnot.

With that said, you should get into the habit of storing your Bitcoin on paper wallets or a client like MultiBT. A paper wallet in particular is a surefire way to keep them secure, so long as you don't lose the paper! (paper wallet = CASH)

[iluvpie60]

Hello

I keep about 90 percent on exchanges for short amounts of time, but I do not have them all on one exchange. I have them on many many multiple exchanges under different names and all that.

Why do I do this? Because I trade frequtnly and go back and forth between other coins. If you are doing that you basically have to keep your coins on there because sometimes a good trade comes up to make 10% and you only have 30 minutes to do it or less, and it may take too long to transfer your coins to the exchange or you are not home and not able to access your pc to send them to exchange.

If you are not trading almost ever, it is better to back up your coins securly and make multiple back ups on your devices.

[stevebc]

I don't consider bitcoin on an exchange my bitcoin.

It's only a matter of time until an Exchange screws you over (either deliberately, or inadvertently).

If you actually need to use an exchanges services then my all means temporarily locate them there - but upon completion move them back to your hardware wallet.

p.s.  It doesn't matter how goes a trader someone is if their exchange ends up costing them their gains.

[jorikito]

I think it's always a good idea to have at least a part of your coins on an offline wallet, definitely if they're worth more than you're willing to lose.

[KS03]

Closer to 90/10 for me.  Just enough on the exchanges to trade.  Everything else safely away from those greedy hands.

[rodel caling]

as a newbie, in the future i keep my bitcoin and invest in trade... i think online wallet is safe...i suggest always need a backing up for security of your wallet... i'm not sure as a newbie what is best wallet use for safety... i will search the best wallet very safe...