kolega
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Activity: 294
Merit: 11
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January 23, 2018, 07:06:31 PM |
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In large exchanges it is possible to keep part of his cryptocurrencies for trading, but most of the best stored in cold wallets for long term storage. But still no 100% no-risk ways to store cryptocurrency. You can only choose the least risky ways. Exchanges can be attacked by hackers, closed, etc.
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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Wipro
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January 23, 2018, 07:19:37 PM |
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In large exchanges it is possible to keep part of his cryptocurrencies for trading, but most of the best stored in cold wallets for long term storage. But still no 100% no-risk ways to store cryptocurrency. You can only choose the least risky ways. Exchanges can be attacked by hackers, closed, etc.
For safety reasons you cannot calculate like large exchange or small scale. In the hackers point of view, many of them lost the bitcoins in the trading site alone when comparing with the online wallet. Even that online wallet also been hacked individually not a complete wallet as of now. So I suggest to keep your fund on wallet for safety concerns, if you keep on exchanging the coins to different one you can better have on the trading sites. There are some scam sites also there so be careful in that. |
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Cryptosenf
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Activity: 51
Merit: 0
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January 23, 2018, 07:23:30 PM |
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Right now i've got most coins on exchanges. Reason is i didnt invest very much so far and withdrawing fees are just too high.
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letecia012
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January 23, 2018, 09:35:12 PM |
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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
i guess we are doing the same strategy i keep all my traded coin to my exchange wallet so anytime i want to trade it is always available and my longterm coin i keep it in my wallet not connected to any exchange. |
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heringasem
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January 23, 2018, 09:44:01 PM |
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Please, if you are going to store your cryptos on an exchange, at least, be sure that you have your account verified.
If they suddenly want to change their policies, they can do it without any further explanation. So be careful with that.. Hardware wallets are always going to be the best thing that you can do.
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vothuong637
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Activity: 20
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January 24, 2018, 09:41:28 AM |
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If you keep the bitcoin on the trading exchange platform, keep a small amount of money for transactions, the solution to store large amounts of money is not the best solution because the exchange platform can be hacked or collapsed then the possibility of you lose everything. I think you should keep bitcoin in your online wallet, you can download and install it on your PC or phone, or you can keep them in your paper wallet or hardware wallet.
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Wonder_woman
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Activity: 674
Merit: 101
I am hired and not own by any Team!
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January 24, 2018, 10:03:05 AM |
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I think it is more better to keep your cryptos on a wallet if you want to be safe from hackers because there are many hackers now who attacks the trading flatforms and it is really bad. But if you want to quick sell your cryptos because of price fluctuation and sell it really fast when the price grow up, you can keep your crypto on trading platforms but like what i`ve said, it is not safe to keep at trading platforms.
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TorbiK
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Activity: 448
Merit: 100
Diagon
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January 24, 2018, 10:54:52 AM |
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It is safe to store cryptocurrency on cold wallets. But if you constantly trade in all or most of its volume, then there is no sense in transferring funds from the exchange.
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Tactical Genius
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Activity: 434
Merit: 102
Leading Cryptocurrency and Blockchain Company
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January 24, 2018, 12:33:58 PM |
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Basically it is better to play around with your portfolios on an exchange as you have the opportunity to make some profits and be able to sell off quickly and buy a coin that's performing well during price dips.However,if the exchange is ever hacked or sanctioned you could lose your money
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CoinCollector006
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January 24, 2018, 12:39:53 PM |
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My advice is to diversify your crypto wealth and have some in hardware wellets like the Ledger Nano or Trezor, some in software wallets like Jaxx or Electrum, some in exchanges where you can trade it and some in alt coin desktop wallets.
I am deeply skeptical of the conventional wisdom that you should hold all your alt coins in the desktop wallet apps. I have yet to see a single alt coin with 2FA. All I have seen is single password that stands between hackers and your coins on a desktop wallet for many different coins including Rain, Linda, Safexcoin, 1337, LDoge, Hyperstake.
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wumBowo
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January 24, 2018, 12:47:44 PM |
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most of my tokens were stored in exchanges, why i'm doing this because if the price coins that i hold is up, i can keep an eye and can sell it anytime without waiting the confirmation times
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KnightElite
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January 24, 2018, 12:48:54 PM |
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I prefer to you to bot store your cryptocurrencies in exchangers. The purpose of exchangers is to trade coins abd it is not wallet. It is not safe because the exchanger can close their website any time and also many exchangers are been hacked by the hackers. So it is safe to store your coins in trusted wallets.
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MiiDoViic
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January 24, 2018, 12:55:14 PM |
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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
It all depends on what is your goal . If you want to hold for a long term use a safe wallet and hold your own private keys . If you are a trader then it's best to keep them on the exchange ,Because it will take you so much time and so much fees to constantly transfer your money from the wallet to the exchange and back. Me personally i keep them all on the exchange platform , that way i know if anything dips and i want to buy ,i will not miss the opportunity. |
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greenbitsgm
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January 24, 2018, 01:31:59 PM |
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I think it's fine to keep your coins in trading platform or exchanges but only if you're a daily trader, for ease of access and less trading fee and with only a small amount,because keeping all your coins in exchanges is not good or too risky. There are many possibilities that your coins might be lost,either by hacking or circumstances that is beyond your control like exchanges closing.Wallet is still the best option to keep your coins specially offline wallet which is the safest and secured wallet.
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therulemaster
Newbie
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Activity: 52
Merit: 0
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January 24, 2018, 02:33:21 PM |
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The place for keeping crypto is depending on your works and what do you want to do with your cryptos, like you can't let them in your wallets all the time if you want to trade right ? Specially right now when the fee transaction is insane.
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BlasterS
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May 09, 2018, 07:06:29 PM |
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Is better to keep all the cryptocurrency on the trading because is much better to do that than to keep it in your wallet because your money will not gain in that aspect while if you going to keep it in trading you are probably gain income..
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kelceyott
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May 09, 2018, 07:33:43 PM |
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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
A good advice for you is that you only have to put money on the trading site when you want to trade in a certain crypto, do not keep your money too long there, there exists the risk of losing all the money, it's higher that you use a wallet. |
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aiviaa485
Newbie
Offline
Activity: 183
Merit: 0
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June 02, 2018, 09:39:24 AM |
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I save Bitcoin in the Exchange market because I trade every day.
but for the sake of convenience then save your Bitcoin in the wallet offline.
and once again all those decisions are all held by you.
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mabell943
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June 15, 2018, 08:12:41 PM |
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For me between keep all cryptocurrency in trading platforms or wallets,
I’m prefer to the trading platforms than to wallet because this time I think trading platforms is the best choice to be choose because they are the one of the best in this business.
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emmybd
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June 15, 2018, 08:21:00 PM |
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I think keeping all crypto in trading platforms are not safe, as they can get hacked. It would be better if you keep them in wallet. Blockchain.info is a very good wallet, you can keep bitcoin here, for altcoins you can pick myetherwallet or metamask.
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