Exchange or Wallet?

[HuyenTKB9]

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

It depends on your purpose(s).
If you just want to buy/sell cryptocurrency to fiat currency, you can use Wallet.
But if you want to trade between cryptocurrency  (bitcoin and altcoins) then keeping your coins in Exchange is a better idea

[JohnMacZeppelin]

Many people here said that keeping money on the purses of the stock exchange is probably the same as giving your money to someone else's money and keeping your money in the pocket of another person. Why can not you understand this? I just do not understand.

[AdamR8]

If the exchange closes, it's hacked or it's in maintenance I will not have access to my coins.   I think that if I take the necessary precautions, my tokens are more secure in a wallet where I own the private keys.

[lee cooper]

Crypto exchange is not always safe,
if the amount is very large,
then it probably does not have enough money for the money.
if you want to buy for a long time you have to go for wallet.

[baldur odinson]

If you are doing daily trader there is no point moving out your crypto off the exchanges. But if you are longer or mid term holder then you have to store it in their wallet. Good thing you have an off line wallet that support most of the cryptos.

[Feelgirls]

for your security you can buy a hardware wallet like a cold keeping, such as Ledger, it is way more secure than keeping it in exchange

[8rch7]

In my opinion, this depends on the future plan. If it's going to be held in the long run, I think being stored in the token / coin wallet would be better. But if the plan will be held in the short term, it would be better if disempan on exchange, at least this will minimize the amount of fee when transfer.

[hodl2018]

Wallet for sure. Exchange is only for trading.

[tamango]

Never leave your coins to exchanges unless:
1) you need them for daytrading
2) you have a really small amount of them....

In all other cases it's better and safer storing them on your personal wallet

[bamb]

Be it Exchange or Wallet, if you are not in custody of your private key to your friend , such fund is as good as lost! If anything happen to platform you are trusting with your coin, those can not be recover. I prefer Wallet that allow me to hold private key to my fund!

[palermofc]

Advantage of keeping your coins in a wallet is safety. But keeping them in an exchange makes you flexible for instant sell and buy opportunities.

[toygama]

It depends what you want to do. If you want to trade then obviously an exchange. If you want to hold then wallet is best as you have total control over your assets. You have the keys to access wallet and you can send where you want.Some holders are having problems getting funds released from certain exchangers.

For me I prepare for wallet, you can hold it as long as you want waiting for proper price hike as we all know the volatility behavior of cryptocurrency will do a favor for those people always have patience which is the best asset for this business.

[jcmansah7]

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

If you are a trader, then you probably need to keep them on the exchange to help you do some quick buy and sell. But if you are hodling it then I don't see the need to leave your coin on an exchange. The exchange can go down or be hacked as heard a couple of times and in which case, you lose your money.

[zchprm]

It depends on what you do actually. For me I prefer MEW since it also holds tokens from ICO's.

[youdacapt]

dominant in the use of the exchange because I am active in daily trading, I also used to direct the pair with USD for the profit conversion routinely, I still use the wallet for the safe stage only, because I use hardwallet passively for long term, but still I use as saving mandatory as it also supports erc-20

[dainoran]

I think it's better to keep the coins in the wallet, because the security uses a private key to open the wallet, only you know the private key. do not put coin on exchange, except trading activity.

[wildcat24]

Keep your funds in your wallet always, unless you are buying/selling that same day. This is the safer option for many reasons.

[LGD2Business]

If you hold your coins in an exchange for long term then they are not your coins. This is rule number 1.
If you don't own your private keys you don't own that money. Just withdraw your coins to a wallet.

[peie3691]

Of course it is your own wallet. Nothing is safer than putting it in your own hands. Exchanges are often attacked, and losses do not make up for your losses. It is ideal for putting in a secure wallet.

[Clark05]

I sse some news that their coin are missing and those people who are using exchange wallet. So I suggest better to have your secure your coins the wallet of the coin i think it must secure than exchnges site wallet. But everything is possible to be hack so be careful of what you are clicking maybe they are pishing that can get information to your account.