Exchange or Wallet?

[AndriyPilipyak]

All have risks to keep, the best is ledger, mew is very nice wallet if you don't catch fishing site, also exchange is good if don't have problems, better hold and don't open throw private key

[aimman]

They are just for different purposes. Wallet - storing, and exchange - trading.

Wallet pros: - higher security - no third party control - more privacy
Wallet cons: - costs money (hardware) - vulnerable to malware (desktop)
Wallet reviews:

• hardware

https://www.finder.com/trezor-bitcoin-wallet-review https://www.finder.com/ledger-nano-s-wallet-review

• desktop

https://www.weusecoins.com/electrum/  https://coincentral.com/exodus-wallet-review/

Exchange pros: - trading options - fiat support - multiple crypto
Exchange cons: - you do not control your money - vulnerable to hacks - charge fees
Exchange reviews (beginner-friendly): http://bitority.com/review-of-cexio/ https://www.forexbrokers.com/reviews/coinbase http://www.bitcointradingsites.net/broker/cryptopia/
Sure these are only a few exchanges and wallets you can choose from, but at least you can see how it works and what are the main features.

[X-avier]

Ask yourself why you need coins on the stock exchange?! Trade is not a problem, but if you buy on the stock exchange and want to store coins 2-3-4-5 years, then of course choose a wallet and it is better if it is a cold wallet

[cicciogas]

When you have little amount of money you can leave it on exchange to trade it, or waiting for dips so you can buy in later. But when you have important funds in stake you HAVE to keep them safe! Wallet it's essential, mandatory! Always store your valuable holding in wallet, and be safe.

[pri3oner]

I see some of yall keep ur coins on exchange's wallets cos of risk to be "infected" by viruses from unknown wallets 

[shellomomma]

you use exchange for day trading. wallet is used most of the time for hodling.

[Mical coffe]

I dont prefer wallet, I will choose It's simply because using wallet, I cannot get my token right away. Granted, in some cases, exchanges will eventually support these ICO tokens and return the purchased amount to the customer. However, one has to keep in mind they have no legal obligation to do so by any means. If you send money to a cryptocurrency ICO address from a wallet, you do not fully control as the sole owner, it is your own fault. All ICOs clearly warn users not to send funds from an exchange to avoid any complications.

[ovcijisir]

I dont prefer wallet, I will choose It's simply because using wallet, I cannot get my token right away. Granted, in some cases, exchanges will eventually support these ICO tokens and return the purchased amount to the customer. However, one has to keep in mind they have no legal obligation to do so by any means. If you send money to a cryptocurrency ICO address from a wallet, you do not fully control as the sole owner, it is your own fault. All ICOs clearly warn users not to send funds from an exchange to avoid any complications.

Yes for ICO's is the best to use your own wallet that you control. ICO should warn you about this. I use exchange only to trade and hodl. I know exchange is not good for hodling, but it is easiest solution for me.

[Nevermind344]

I use a cold wallet for long-term storage of crypto (more than 3 month), but my other balances are on exchanges (for daily trading, short-term investing). Yes, I know the risks associated with exchanges, but its very handy way.

[febrian1705]

You should always keep your cryptocurrencies in your wallet.  Only keep coins on exchanges for trading purposes.  With the recent hacks of Coincheck and Bitgrail, it should be a message that exchanges are not safe for storing coins. 

I agree with you see up and down the market price makes us have to be good at saving coins.

[terible.hunter]

If the conversation is about where it is best to store your money, then it's best to do it on remote or cold devices. I think that such an opportunity will be the safest. Because I believe that today there are no 100% secure systems.

[btcpara]

When you create a wallet you'll be given a private key (talking about BTC and ETH here). If you lose your wallet, forget it, or your hard drive crashes.

If you have this stored safely (noone else can ever see this). Then you can recover the funds. Sometimes the wallet will get you to create a seed of 12 random words. If you write these down (again very securely) and lose your app, program or PC. You can recover the wallet with the seed or private key or wallet file.

Basically, backup the wallet and seed or private key away from other people and in another location.

[Cryptoprobro]

Holding coins / tokens offline is always safer than storing on an exchange as long as you take the correct measures.

[Mkmanik]

you use exchange for day trading. wallet is used most of the time for hodling.

correct.you said well. Its need to do you (OP) forget about to exchange wallet for holding your coin.its too much risky. personally I dont do it.
sometimes you may need urgent $  But the wallet cant provide you quick withdraw because sometimes they hav problem about the wallet.so they stop fund withdraw.so try to use personal wallet.

[richcorner100]

This is according to your purpose bought that coin, if you would like hold by long term will be much better keep your coin in personal wallet that you own the private key because this way will be more safe than keep in exchange. But if you just want to buy and sell in short term will better keep in exchange so will be efisien and dont forget to use all security feature.

[tamango]

Unless if you do some daily trading, DO NOT HOLD your coins on Exchanges but send them to your wallet... it's one of basic rules...

[Euphonic]

It really depends on what your intentions are. If you want to become a day trader, then it's useful to keep some of your coins in the exchanges (only the secure ones, so be very careful!!!), otherwise you're better keep this things in your wallet.

[nmax21]

Of course, it is better to use special wallets for storage than stock exchanges. A good wallet is Jaxx, it supports a lot of cryptocurrency and is very convenient to use.

[jamiebear]

Good to have money on both, if you are a long term holder that does not mind the volatility in the market I would suggest putting your crypto in a hardware wallet like trezor or ledger. It is secured and will give you peace of mind against hacks. Just be careful in the pages you are browsing, backup the phrase and never take pictures of it and never give your private keys to anyone.

[VanKleiss]

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 is still best to make your own wallet that to keep it on Exchange. If you keep it on exchange and there is a hack in their system, your altcoin will disappear in a snap. If you have your own wallet, you are in control over your coins and no one can access it except you.