Exchange or Wallet?

[amanarora_1]

Firstly, I think my all coins are safe in my wallet, but now it's totally opposite for me. The reason behind it was a robbery of $5000 for my ETH wallet. Yeah some hackers hack my ETH wallet without Private key and transfer high value coins. Now wallets are also not safe, so Exchange is best for coins now! I don't know how they hacked it, but i have doubt on scam airdrops and bounty which i usally like to fill!

[spiffcow]

There are some basic differences first of all if you want to trade with your coin then obviously you need to put it on any exchange. Though some Wallet provides the exchange facilities but the are charging much more than the exchanges.
Next thing is the KYC, in the exchange websites you need to fill the KYC form but you can store in wallet without any KYC.

[Marine8]

The best choice is to keep them in your own wallet which you have the private keys to. Keeping it on an exchange is quite risky because the exchange can be hacked and you will lose everything you have on it.

[Armstand]

The best choice is to keep them in your own wallet which you have the private keys to. Keeping it on an exchange is quite risky because the exchange can be hacked and you will lose everything you have on it.

If you visit myetherwallet, it didn't recomment using private keys too, better have ledger or trezor to have the security we much needed in a wallet.

[PhuketSunset]

On stock exchanges, you only need to store the amount that you trade daily, because exchanges are not the safest place to store.

[Ayam1fish]

Wallets are far better than exchanges. It will be very rare for someone to be targeting a wallet to hack it, but exchanges are always targeted at every moment because it contains a lot of savings. The only advantage of leaving it on an exchange is the ability to trade faster.

[asdalani]

To keep money on the exchange is a silly decision. It is safer to store money in your wallet. It is not necessary to create a large number of them, at least one

It's not always going to be a silly decision to leave coins on an exchange. If he wanted fast trades then he should leave it there.

[assy]

I think the wallet is better because the wallet is safer from the peril of hackers, while excessive risk exchanges are more easily hacked, using trusted wallets and complicated passwords are the best option.

[ifanxu]

exchange sites are preferable to make transactions more rapidly and take advantage of quick fluctuations. Yet from a security viewpoint it A local Wallet is a safer alternative.

[Odik_sidik_04]

I have a question.

What is better? To keep your coins on some Exchange site or to open wallets for each coin?

I would like to hear some advice.  What are pros & cons of each option?

Thanks

The best practice is to keep only those funds on the exchange that you want to day trade or hold on mid-term. For other assets and long-term investments are better to use cold wallets.

yes, I really agree with you, if we have coins or short or medium term investments, can save funds or coins by exchange for trade or also temporarily stored in a wallet, if you already have a wallet. but for the long term, we must keep the funds or coins in the wallet itself, if it does not exist then must create an account to minimize the crime of theft of coins.

[moonriver]

I think the wallet is better because the wallet is safer from the peril of hackers, while excessive risk exchanges are more easily hacked, using trusted wallets and complicated passwords are the best option.

I agree with you that wallet is safer, but it is not convenient for frequent traders.
I kept most of my coins in wallet, but a small portion in exchanges. Of course only the reliable exchanges.

[Advicerabi]

Both are good as they perform different functions. If you want to hold for a long time then definitely you should go for wallets. Keep all coins online is dangerous. Even the most trusted exchanges can be hacked or closed.

[Chrisjay]

For me its more safe if you go to wallet than exchanger wallet..

[BigBos]

Both are good as they perform different functions. If you want to hold for a long time then definitely you should go for wallets. Keep all coins online is dangerous. Even the most trusted exchanges can be hacked or closed.

well, i also choose both. I currently keep some coins in the wallet, and in the Exchange. in the wallet for my hold, and in the Exchange for my money needs preparation. well, this way I have long used to manage my money.

[vfrias]

Exchange just to liquidate positions, I would never keep any balance in one exchange. All exchanges one day or another will present troubles, I prefer to not be there when it happens.

[Victorycoin]

To keep money on the exchange is a silly decision. It is safer to store money in your wallet. It is not necessary to create a large number of them, at least one

It's not always going to be a silly decision to leave coins on an exchange. If he wanted fast trades then he should leave it there.

It becomes a silly decision when we start to take an exchange for a bank, thereby stashing huge amounts in them, instead of the much just enough for our trading and it's even more brainless, when the amount involved is not anything we can afford to lose. It's also no less a silly decision when one fails to see the pitfall in settling for online wallets instead of investing in hardware wallet, especially as their holdings starts to gather weight!

[4ernuy]

On exchangers, you can not store your crypto-currencies, they have it clearly in the rules. If something goes missing there with long storage, they will not be held responsible

[malekcap]

if you are a daily trader keep it in your account in the exchange but if you are long term holder or you just want to keep it to use it in daily life so the secure way is to keep it in wallet but just please dont lose your passphrase or password or private key! to keep your funds secure all time 

[King Bounty]

I prefer on the wallet, because it is more secure than i store it on Exchange.

[BitcoinCazh]

no one really really safe your coins when you have much, but better in wallet compare with market, when you wanna doing trading just send your coins in market to do, and with wallet you can do it for recieved payement bounty,wallet is better compare with market exchange