Exchange or Wallet?

[Moeda]

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

I think using MEW is a place to store all our coins, but if we keep it on the exchange it does not matter either. Because the market exchange is also safe from hackers.

[martinrep]

can be stored and on the exchange, although if you get a reward for the bounty then you need a wallet

[coinbirds]

It is not recommended to hold Your coins on Exchanges, only those You are trading with as they can be hacked or there could be other issues like late Withdrawal. The use  of wallets is to  store, send  and receive digital currency or for shopping purposes.
There are many of them, I use Ledger Nano S.
Even if You lose it, You can always get backup and block  others to getting access to Your Cryptocurrency account.

[Neutrality]

I won't recommend leaving your crypto on exchanges. one of the reasons is that some exchanges do not support airdrops or hard forks so you won't be able to collect free money

[automail]

It depends on your purpose. If you want to sell then the obvious choice will be the exchange. The pro's of storing your coin to an exchange is that you can immediately post a for sale and the security will be much higher compared to wallet. Most of the exchange has a google authentication for login and email verification that monitors every transaction. For wallets, you only have private, password and encryption. If you have multiple coins, accessing them can be a hassle because not all of them are listed on the same exchange. Its up to you to weigh your options.

[zulfi125]

After receive in myetherwalelt you should need to transfer to exchange after received because exchanges are more safe due to 2FA.

[Raidal]

I would rather open my wallet for every coin. In my opinion, if you just to hold a coin, it's safer than we keep it on the exchange site. More exchange sites are at risk of hacking. If the coins we store in the wallet then we can make a safety for our wallet. We can make sure all the safety facilities so that our wallets can not be hacked. You can read about how to secure your digital wallet through a thread that has been discussed in the forum a few days ago. But if you will use for daily trading then it is better you keep it on the exchange site because it is faster in the transaction process if you will do trading.

[hendra12]

i think in my experience. if you not use that money for trader and just want keep and hold. i think better is you keep on your wallet. because some day maybe you will change your exchange for your coin.

[pthrmsor]

Safe option is wallet but sometimes if you have many coins and are not able to keep separate wallets for all of them, exchanges are also good option. But you have to be sure exchange is safe and update yourself, if the coin is still in exchange or not.

[Natalim]

Safe option is wallet but sometimes if you have many coins and are not able to keep separate wallets for all of them, exchanges are also good option. But you have to be sure exchange is safe and update yourself, if the coin is still in exchange or not.

Exchanges always claim that they are safe, but in reality they are not because there are a lot of exchanges that has been hacked.
Hackers will choose exchanges because they know there's a lot of money in exchanges, the recent news which is the coinrail hacked would say
that it's not good to store coins on exchanges.

source of the hack incident. https://techcrunch.com/2018/06/10/korean-crypto-exchange-coinrail-loses-over-40m-in-tokens-following-a-hack/

[torres99]

Exchange is way too vulnerable to hacking plus your coin activities is pretty much exposed, wallets are safer bet as you can chose which one works for you and encrypt it in your own liking, always stay safe

[xadidos]

I can say that I am doing just the same, every bounty I participate has a different ETH wallet for different coins they will pay

[Cryptopal2]

I think it's good to keep coins in an well known good exchange because they'll keep the wallets secured.but some exchanges take more time to withdraw coins. If you use a  hardware wallet , it's good to keep them in that wallet because it's more safe

[manish9841]

Big NO for exchange for holding. Get some secured wallet and put it somewhere where you have more robust security. Use exchange only for trading.

[lucas_lewit]

In my opinion would be better to save the coins in the wallet because it is very safe compared to the exchanger. You can make it in myetherwallet, because there is a trusted website.

[rxkinglampung]

I prefer to keep coins on Exchange, the reason is that usually on the Exchange have an Airdrop program if we have a coin and will get another coin or earn a few percent commission from the coins we have.
My only wallet is MEW which I only use to store Ethereum and receive bounty coins.

[HaywhyJ]

I can't say you should keep your coins in the wallet or exchange platform, but its depends on your own decision , mind you, you earn less when you keep your coins in the wallet but when into exchange there is tendencies that it can increase but that depends on the level of your risk taking. If you re a risk taker why don't you divide your coins and take part of it for exchange and remain part in your wallet, that's my view.

[miracle24]

For longterm, external wallet is good, short term coins should be left on exchange so it can be sold when target is met.

[ZhukovM]

If u have multi currency wallet and it is secure enough so of course it’s better to keep your coins and tokens in your wallet..

a good option, but if it is absolutely safe to have no one ever hacked, use this charm as a hardware wallet.

[oriontab]

It may be difficult to get a good wallet for all your altcoins,there are just a few good multicurrency wallets (coinomi,jax,etc).It is still the better option.Exchanges are target of hackers,if they succeed in hacking any exchange where you keep your altcoins,you are likely to lose those coins as the exchange often times will not compensate you for it.Those exchanges may close business if it is a major hack.Mt Gox is an example