Hey guys,
I've read around a bit, googled, but I know many are active traders - so I'll ask here:
Background: I have about 6 coins currently (not much) and 1 ICO (in it's own wallet, of course). Some of these are active trades, some for hold. Currently I have 1 in a Cryptopia Wallet (unsure if this will be hold or active yet) and 5 in Bittrex Wallets. I also have Exodus and mine ETH and DCR to those wallets.
What is the preference?
- Have my own PC-based wallet and back it up?
- Use a hard-wallet? (thinking like Trezor)
- Other?
Thanks. Just trying to figure this all out
I own Trezor. But I'm using it only for long-term hodl. My daily needs are on local/online wallets. But only small amounts.
Never use Cryptopia or any other exchange as long-term wallet. Exchanges are... exchanges. To exchange coins and withdraw.
He already answered the basics.
Stop using exchanges as a wallet or you are risking to much that way.
I know we want a faster way to exchange our coins if a certain increase in price is happening but at what expense?
Use Trezor if you want or use the wallets provided by those coins. Some of them offers that or have a preferred wallet.