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Author Topic: Storing Altcoins  (Read 573 times)
steven915
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October 05, 2017, 03:10:26 PM
 #1

Where can I store my altcoins? I was thinking of buying and trading some altcoins, but can I just store them in like for example bittrex? Or should I download the altcoins individual wallet?
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October 05, 2017, 03:16:32 PM
 #2

It is better to use the individual wallet (desktop or web wallet) or use a paper wallet, because this means you control the private keys and fully own the altcoins.

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October 05, 2017, 03:17:48 PM
 #3

You can use myetherwallet and wavedex.for erc20 coin you can use myetherwallet and for waves based coin use waves wallet. don't use a exchanger wallet for storing your coin.its high risky also.anytime exchange platform can be hacked by hacker.

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October 05, 2017, 05:43:34 PM
 #4

Where can I store my altcoins? I was thinking of buying and trading some altcoins, but can I just store them in like for example bittrex? Or should I download the altcoins individual wallet?

The answer depends on the amount of altcoins that you want to store, the percentage the
altcoin stash is compared to your overall wealth and your risk tolerance.
In general, it is not recommended to keep coins on exchanges
due to increased counterparty risk.

After all, being able to store your own wealth is one of the major
benefits of cryptocurrencies.

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October 05, 2017, 06:45:06 PM
 #5

Personally I use MyEtherWallet and the btc wallet of blockchain.info.
For any other currency I use their desktop wallet or let them in trustworthy exchanges like bittrex if I only have an small amount of them.

Be aware of phishing posts which tell you to log in under the following link. (A LINK NOT  TO THE ORIGINAL MYETHERWALLET)

They just want your private keys to steal your funds.

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October 05, 2017, 06:51:58 PM
 #6

Well if you planning to invest a lot in altcoin and store it for a long time ledger nano or trezor could be the best option to hold your altcoin for a long time but its a hardware wallet and its not free you need to buy your own hardware wallet..
There is other option jaxx wallet but i heard lots of issue about this wallet so i just warning you to use it.
Other option is to use the official wallet of every altcoin if you have large space in your harddrive you can install wallet one by one for safety of your altcoin.. myether wallet is for ethereum coin only just like what mention above.

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October 05, 2017, 07:36:12 PM
 #7

It is better to use the individual wallet (desktop or web wallet) or use a paper wallet, because this means you control the private keys and fully own the altcoins.

Absolutely agree with this guy.  Never keep your money on an exchange for more time than needed to trade.  After the trades have been made, store off of an exchange on a wallet you control.  Not every wallet supports every altcoin, however some of my favs are Jaxx and Exodus, which between the two, can store quite a large number of coins.  In the case that neither wallet has support for the coin you are looking to store, look up other options, but never keep them for long periods of time on the exchange.  Use this rule as a lesson learnt from many of us the hard way.
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October 05, 2017, 07:37:25 PM
 #8

If you really want to commit to it do as some others before me told you. Get a hardware wallet, Way easier than keeping all those different wallets on your PC, or worse, on exchanges.

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October 05, 2017, 07:49:05 PM
 #9

Personally, I use MEW. It's extremely convenient given how many alt coins its able to store. I also have some in desktop wallets when MEW isn't available.

I do want to invest in the usb offline storage device, Trezor I think.
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October 05, 2017, 08:05:52 PM
 #10

Where can I store my altcoins? I was thinking of buying and trading some altcoins, but can I just store them in like for example bittrex? Or should I download the altcoins individual wallet?

It's safer to use individual wallets where you control the private keys, especially if you have a large amount invested. Exchanges are risky because there is a history of them getting hacked, stealing coins, mismanagement, and then going out of business (MtGox, Cryptsy,etc.).

Only use exchanges for trading and then move them off of the exchanges. Sometimes holding is better than trading anyway.

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October 05, 2017, 09:11:45 PM
 #11

Where can I store my altcoins? I was thinking of buying and trading some altcoins, but can I just store them in like for example bittrex? Or should I download the altcoins individual wallet?

No, bittrex and any other exchanges are really bad to store any kind of coin. Such websites could be hacked or simply disappear with users'money, so don't trust them. Never.

You need to have full control of your coins. Think as cryptocoins as a "traditional" wallet for banknotes and coins. Do you give it to strangers? Of course not. You take care of your wallet by yourself. So you have to do with cryptocurrencies. No difference.

For altcoins it depends on which altcoin you wanna store. If they are ETH, ETC or Ethereum-based tokens you can store safely on myetherwallet. It is not a web wallet (although many still think so...) and you have full control of your coins. If you have other altcoins (for example Litecoin, Dash, etc.) you may use multicoin wallets like Coinomi (for mobile only...) . Anyway, before downloading a wallet check if it's safe to use, search for feedbacks and keep it safe and updated.

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October 05, 2017, 09:34:19 PM
 #12

I would suggest using jaxx for start. It is easy wallet, hard to make mistake on it. And that's important. And you have a lot of altcoins inside!

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October 06, 2017, 03:20:53 AM
 #13

Use myetherwallet to store your erc20 tokens, it allos almost all tokens from ICO's, and it is very easy to use, i use to store all my coins in there, and it works perfectly, i can manage my money very easily, i sugest it to you.
Or just hold some part of your coins on bittrex as you just said, but maybe it is a little bit risky, maybe one day you would be hacked and you will probably lost your money, so better to store all your coins on myetherwallet.

steven915
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October 06, 2017, 03:39:39 AM
 #14

Thanks guys, I'll download their desktop wallets, I was thinking of investing on some altcoins and holding on to them and wait for the right time to sell them. It's a good thing that I asked lol, my first option was just leaving them at bittrex, which I now know isn't a good idea.

Another question, is there like a site, application or desktop wallet where I can store almost any altcoins?
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October 06, 2017, 03:46:32 AM
 #15

Use myetherwallet to store your erc20 tokens, it allos almost all tokens from ICO's, and it is very easy to use, i use to store all my coins in there, and it works perfectly, i can manage my money very easily, i sugest it to you.
Or just hold some part of your coins on bittrex as you just said, but maybe it is a little bit risky, maybe one day you would be hacked and you will probably lost your money, so better to store all your coins on myetherwallet.



so should i just use this? is it okay to store big amounts?
my pc just broke and i am new in this world. but iwanna invest on some altcoins because a lot of people say that i will be able to earn a lot with them.

so is it okay to use cp even when i want to put big amounts of altcoins in my wallet?
steven915
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October 06, 2017, 03:55:36 AM
 #16

Also how does printing private keys work? Does individual btc/alt coin wallets give you private keys? And what's the purpose of private keys and why should I print them?
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October 06, 2017, 02:21:20 PM
 #17

Is there a reason nobody has mentioned imToken for mobile devices? I am using that for some bounties I did, and it works, but I am pretty new to this so if there is a reason against it, I'd love to hear it.
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October 06, 2017, 03:39:44 PM
 #18

I think it all depends of what security you want for them you may find it easier to have them in one place or in a few different ways of storing them. Wallet are good as long as you can access them if you're device lost or stolen.

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October 06, 2017, 03:52:42 PM
 #19

Where can I store my altcoins? I was thinking of buying and trading some altcoins, but can I just store them in like for example bittrex? Or should I download the altcoins individual wallet?

It's tough, because there isn't one wallet that accommodates all currencies. I'm sure there will be someday, but not today.

What you can do is evaluate the wallets that do exist and see which may store all the currencies you own or at least narrow down the options.

Here's a Wallet Comparison site that also displays the currencies supported for each wallet.

Good luck to you!

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October 06, 2017, 03:59:46 PM
 #20

Where can I store my altcoins? I was thinking of buying and trading some altcoins, but can I just store them in like for example bittrex? Or should I download the altcoins individual wallet?

You can use myetherwallet.com check their website and register an account. They support erc20 token and many more token. Ifyou want and offline wallet you can use mist or parity wallet in your computer

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October 06, 2017, 05:25:45 PM
 #21

for me i prefer blockchain.info because it support two kind of coins and low fee
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October 06, 2017, 08:36:30 PM
 #22

You can use myetherwallet and wavedex.for erc20 coin you can use myetherwallet and for waves based coin use waves wallet. don't use a exchanger wallet for storing your coin.its high risky also.anytime exchange platform can be hacked by hacker.
I totally agree with you, when you buy alts just store them in your desktop wallet or a trusted online wallet like myetherwallet and when you want to trade just send the amount you will use to exchange wallet after making the profit you wanted withdraw it back to your wallet that you and you only know the private key.
This is what I do generally and every thing is going well till now.

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October 07, 2017, 04:58:01 AM
 #23

It would be better if you store them in bittrex because its easy to manage in trading and buying.

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October 07, 2017, 06:59:15 AM
 #24

if you trade altcoin with Etherum Platform, the best place is myetherwallet.

Waves platform - ofcourse , https://wavesplatform.com/

blockchain platform,  your computer is best
steven915
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October 07, 2017, 07:56:28 AM
 #25

Where can I store my altcoins? I was thinking of buying and trading some altcoins, but can I just store them in like for example bittrex? Or should I download the altcoins individual wallet?

It's tough, because there isn't one wallet that accommodates all currencies. I'm sure there will be someday, but not today.

What you can do is evaluate the wallets that do exist and see which may store all the currencies you own or at least narrow down the options.

Here's a Wallet Comparison site that also displays the currencies supported for each wallet.

Good luck to you!

Hey, thanks for the link! I'll try out Exodus cause it looks promising and coinomi. But I'll probably use the individual wallets given by each coin when I have to like hold onto a coin for a long period of time.

Thanks guy! Smiley
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October 09, 2017, 05:13:39 PM
 #26

It would be better if you store them in bittrex because its easy to manage in trading and buying.


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