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Author Topic: Keep all crypto in trading platforms or wallets?  (Read 958 times)
worldtraveller321
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December 30, 2017, 07:07:40 PM
 #1

What would be a better move ? to keep most of my crypto in Exchanges as seems better option. as with the constant flows - green to reds etc.
in order to make gains or min loss, it seems best to trade a red one to green
eg as today i had lots of reds, but to min loss, i took some of my ETH and verge and traded into XRP which mooned and now my gains are way up
as i keep this crypto thing a constant watch.

What do you all suggest?

i use a Coinomi wallet that is connected to Changelly and SHapeshift
so i do exchanges there.

What do you all recommend?

i am thinking just a wallet for holding a currency for long term and no intention to trade out? just add to? thoughts

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December 30, 2017, 07:13:57 PM
 #2

It depends on your situation and state of mind.
If you are into trading and want to trade, keeping them in the exchange would be fine as I am suggesting it based on the fee they charge to withdraw every time, else keeping them under your possession (wallets because you will have private keys with you).
Still, don't trust small exchanges too much because when larger exchanges could get DDoS attacks, I don't think that smaller ones will be left as due to the rise in the value of Bitcoins as well as alts too, hackers will definitely try to get their hands either on the data of customers to blackmail exchanges and ask for Bitcoins in return of that data not to be leaked (Ransomware) or they might use the data to simply withdraw the coins and dump over the market. And seeing your concern that you are interested in holding something for long term, wallets will be the best thing.

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December 30, 2017, 07:16:08 PM
 #3

Don't keep money on exchanges then you don't have to worry about the biggest target ever getting hacked and you lose everything. You're a small fish in the ocean when you hold your own private keys. Even better? A hardware or paper wallet. Then no one even knows these bitcoin are in your possession.
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December 30, 2017, 07:21:21 PM
 #4

No never that to now. Many big exchanges like bittrex , poloniex , bitfinex are suddenly asking for verification and blocking users funds. Many even submitted there documents but it is still locked i would suggest you to trade on a exchange and withdraw instantly.
I also use shapeshift it doesn't have many coins so instead i transfer to exchange and withdraw instantly.

And also it's better if you buy a ledger or a trezor it's really important now storing on your pc also has many risks involved.
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December 30, 2017, 07:42:37 PM
 #5

I'll probably repeat what most of other people say. If you want to trade daily,keep your money in exchanges. If you buy to HODL, then keep them in  wallet. Best is offline/paper wallet of course, but online wallets are fine as wel  if you don't have much money yet.
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December 30, 2017, 09:12:13 PM
 #6

My advice for you sir is never keep most of your btc and altcoins in an exchange quite too long, I'm not saying that exchanges are not trustworthy, all I'm saying is there are risks on it. Yes! You can still access your crypto there like in a wallet but the difference is there's now other than you (which is the exchange) who has the authority to access it also. Knowing that fact is quite alarming, right?

If I were you, I will only put some amount of my coins in an exchange, trade it and withdraw after making a profit as early as possible. Wallets are still the best option to store yout coins, it's 100% safe (as long as you keep your username and passwords secret).

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December 30, 2017, 09:19:16 PM
 #7

If you don't plan to trade it would be best to keep your coins in a waller rather than an exchange.
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December 30, 2017, 09:30:04 PM
 #8

i think i agree with most of the other comments in this thread. You have to take your intentions and mindset into account. If part of you wants to trade coins and make money off of the peaks then keep some money in an exchange. If another part of you finds tokens that you trust will be solid in the future then HODL those into a wallet cuz that is your safest option against hacks.
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December 30, 2017, 09:37:05 PM
 #9

Keep some coins in cold storage and also keep an amount you are willing to lose on exchanges. Preferably an exchange with margin trading so a smaller amount goes a longer way and you dont need as much. Only deposit more if you are facing a margin call. But hopefully all your trades are profits. Then divy your profits into thirds: One third stays on the exchange. One thing goes into a coin as a long term investment. One third is sold and withdrawn.

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December 30, 2017, 09:46:36 PM
 #10

If you are trading then keeping your coins in exchanges is the best way to counter the transaction charges,but if you are planning to hold for the long term i would prefer to move to your own wallet rather than trusting these online wallet,because you never know what will happen to your coins if there is a hack of some sort.

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December 30, 2017, 10:27:40 PM
 #11

What would be a better move ? to keep most of my crypto in Exchanges as seems better option. as with the constant flows - green to reds etc.
in order to make gains or min loss, it seems best to trade a red one to green
eg as today i had lots of reds, but to min loss, i took some of my ETH and verge and traded into XRP which mooned and now my gains are way up
as i keep this crypto thing a constant watch.

What do you all suggest?

i use a Coinomi wallet that is connected to Changelly and SHapeshift
so i do exchanges there.

What do you all recommend?

i am thinking just a wallet for holding a currency for long term and no intention to trade out? just add to? thoughts
Have it in mind that you're not legit own of every coin you save on exchange because you're not the holder of the wallet private keys. What I do is use 2 wallet, 1 for exchange and other for my private storage. I forward coins I'm about to sell to exchange site while I forward the coin I want to hold for long to my private wallet.


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December 31, 2017, 01:30:35 AM
 #12

All options are in your hands. But if you ask for advice, we better also save some of our assets in Exchangers, because we can more quickly participate in the ups and downs of the price of coins that we hold. 30% in the exchanger and 70% in the wallet will be safer from our hands who like itchy want All in. Smiley

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December 31, 2017, 07:35:13 AM
 #13

If you hold that coin for longterm for the better keep it in personal wallet because when we keep the coin in that wallet, that mean we have full control with our money because we have the private key. So keep coin in exchange only for trading and for longterm invesment will be more safe keep it in personal wallet like Coinomi.

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December 31, 2017, 07:41:11 AM
 #14

All options are in your hands. But if you ask for advice, we better also save some of our assets in Exchangers, because we can more quickly participate in the ups and downs of the price of coins that we hold. 30% in the exchanger and 70% in the wallet will be safer from our hands who like itchy want All in. Smiley

Most of the altcoins take very less time to send and receive coins then why you want to take a risk by storing your coins in exchanges? Because we can't guess when these exchanges will close or face some issues and block our accounts. So I never store my coins in any exchanges after purchasing I will move those coins to my personal wallets. Also, I'm not into day trading so it is not safe to store in exchanges.
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December 31, 2017, 07:54:46 AM
 #15

It's a good question to answer because it all depends on one's need, mindset and approach towards the trading and investing. If you are a longterm trader and if you don't mind in keeping the coins in your exchange for longer period of time for trading or holding purposes then its ok to go with this options. And suppose you don't want to risk your coins by holding them into your exchange website if you are not a regular trader then you better use a wallet which is connected to your country, something like zebpay. Hope you got understood.

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December 31, 2017, 07:59:14 AM
 #16

What would be a better move ? to keep most of my crypto in Exchanges as seems better option. as with the constant flows - green to reds etc.
in order to make gains or min loss, it seems best to trade a red one to green
eg as today i had lots of reds, but to min loss, i took some of my ETH and verge and traded into XRP which mooned and now my gains are way up
as i keep this crypto thing a constant watch.

What do you all suggest?

i use a Coinomi wallet that is connected to Changelly and SHapeshift
so i do exchanges there.

What do you all recommend?

i am thinking just a wallet for holding a currency for long term and no intention to trade out? just add to? thoughts

Most people will give you advice to keep your crypto on wallet not exchange, more safe I believe. Exchange is only place to trade not to keep, so please fix the mindset. We all know, most people still use MEW as their wallet but safety to protect MEW is needed. So, you can choose any wallet you want but please never keep your crypto ( asset ) in exchange. See you next time.

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December 31, 2017, 08:13:33 AM
 #17

What would be a better move ? to keep most of my crypto in Exchanges as seems better option. as with the constant flows - green to reds etc.
in order to make gains or min loss, it seems best to trade a red one to green
eg as today i had lots of reds, but to min loss, i took some of my ETH and verge and traded into XRP which mooned and now my gains are way up
as i keep this crypto thing a constant watch.

What do you all suggest?

i use a Coinomi wallet that is connected to Changelly and SHapeshift
so i do exchanges there.

What do you all recommend?

i am thinking just a wallet for holding a currency for long term and no intention to trade out? just add to? thoughts
In my humble opinion, try a day trade or a weekly trade to make sure of profits. Its better to develop experience from these trades specially today that most of the altcoins pumps.

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January 03, 2018, 06:11:43 AM
 #18

Its much better keep in personal wallet because more safe than keep in exchange, as we know many exchange got hacked now and this is will be risky to keep all coin in any exchange. Keep in personal wallet like coinomi that we own the private key more secure because we have full control with our money . Use coinnomi or other personal wallet to hold many different coin for long term investment is more safe and less risk than sory later.

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January 03, 2018, 07:13:36 AM
 #19

the trading strategy that you are using is what will determine what you should do. obviously holding altcoins in their wallets is a pain in the ass and in some cases even risky since they may contain malwares! but holding on exchanges is also risky since they can scam you at any moment.

if your strategy is a short term trading the altcoins to maximize your profit on your bitcoin or money and getting out. then the best thing is to keep them on exchanges to be able to dump them fast and only get the bitcoin in and out of exchanges and store it in your cold storage.

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January 03, 2018, 07:24:39 AM
 #20

Wallet usually got a better security and it's safer, so if you want to hold the coin for a long time without touching it then go for wallet, saving your coin in trading platform is only for trading purposes, dont save too many things in exchanges because, exchanges got a pretty bad reputation, it can suddenly close and run away with your coin

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