Exchange or Wallet?

[hieuho381]

If you trade on the trading floor then you definitely have to let the crypto on the trading floor. You can also store crypto on online wallets, but I recommend that if you want to keep the long and stable crypto you can store on an offline hard drive, that is the safest way to protect your assets. But remember to keep the private key carefully.

[eugenefonts]

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

Hi , if you are trading daily you need to keep your coin at exchanges. If you are planning for long term keep your coin on to his own wallet for security purposes. Because keeping your coin in exchanges has a risk,that exchanger might gone someday and all your coins will be taken away so be careful. If you had a offline hard wallet its the safest way on keeping your coins. I personaly keep the 75% of my coin his wallet ,while the 25% are on trading sites.

[AniviaBtc]

Just keep it in a wallet, to secure all of your coins that you hold. But it's up to you, what do you want in your coin. If you want to keep it in a wallet or exchange.

[Gulayman]

If you want to hold it just keep it in a wallet. But not all wallets support every cryptocurrency. Like Waves for example operates on its own blockchain. So in order to receive Waves, you need to send it specifically to a Waves wallet.

[AimHigh]

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 what you want if you want to secure your coins store it in wallet but if not in exchange so you can monitor your coins. But in my situation im doing both while some of my coins was in wallet and the half one was in exchange to trade and earn. Storing in exchange site was trade and different coins to earn and have income for the future and the other one in wallet was so secure my coins and holding it.

[bhadz]

Pro's for keeping your balance to an exchange.

- Fast, you can trade it immediately.
- No transfer fees.
- No delay.

Con's

- The exchange can be compromised together with your balance, that's all.

Pro's for keeping your balance to a wallet for each coin.

- You have the private key and your coins are safe so it's impossible to be hacked unless you will be a victim for a phishing link.


Con's

- You need to pay fees when you will transfer it to an exchange.

[vv181]

Never keep a coin in the exchange's site, its really bad idea. You better to put in under your own wallet where you have full control over your private keys. And if you want to move it to exchanges, move it only when you want to use the coins, like taking out a profit, buying other coins, etc. So if you have no use for the coins you better keep it in the wallets.

[entemeister]

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 want to be in possession of your coins use a wallet , if you use an exchange then you are relying in a third party who gives you no warranty in case of loss or hack

[martin1221]

It depends on the purpose of the coin mate, if you are in trading, just keep it in the exchanges because its a waste of time to transfer always the coin to your wallet from or to exchanges. When talking about ico or investment, just keep it in a mew wallet so that it will safe

[Wyne]

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

Its depends on you what is much better to you. But for keeping your coin in exchange is much greater than transfer it to wallet because you have chance to gain profit constantly when you are in exchange.

[allycn]

For me, a wallet (preferably offline or hardware) is for holding your cryptocurrency long term and an exchange is for quick transactions (you should not leave your money just sitting there as it is risky). I guess you could always keep a small amount in the exchange in case you see a great trading opportunity).

[batang_bitcoin]

You don't put big balance to an exchange or any web wallet that's good for that certain coin.

I would advice that buy your own hardware wallet where it supports those altcoins that you have and just transfer it when you are about to trade.

[robi5060]

Depends on you. If you want to keep your coins it's obviously good but check your coins market value. When your are satisfied then exchange. 

[ahmed]

I suggest to keep it in your private wallet, because it will be safer. recent market bitgrail has lost 16 million nano in their market, for that I advice keep in store in your own wallet because it is more secure.

[rommelzkie]

If you are a long HODL person then you must store your crypto on a private wallet. however if your a short time trader buy low and sell high then place it on exchanges. if you have decent gains then withdraw it to your private wallet. dont store all of your crypto in one wallet for added security

[anhhung409]

Most of the exchanges have account verification steps and I think it is quite secure. However, I think we should keep the money in our purse. It is not easily stolen or hacked. But it is extremely handy when you are dealing with multiple exchanges. Besides, just keep your password so access to your wallet is not possible without your permission.

[peter0425]

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 was wondering why you need to raise this questions. You status says your are already a Full Member so I assumed that you already know that keeping your coins in a trading platform is not safe because you don't have control of the private keys.

Also, there's a similar thread here:

https://bitcointalk.org/index.php?topic=2004149.0

https://bitcointalk.org/index.php?topic=2019305.0

And you will see a lot of intelligent answers there. Let me quote one for you:

the cons of storing your funds in an exchange or online wallet:

• the owners of the exchange have access to your private keys, so they can use your unspent outputs (steal). so you lose everything
• if the exchange gets hacked, you lose everything
• if the exchange goes bancrupt, you lose everything
• if you do something against the exchange's TOS, they can block you (you lose everything)
• you're only able to do the things that were pre-programmed by the exchange's administrators. There's a big chance you won't be able to sign messages with your address, double spend inputs, pick your own fees,...

If you're not (the only one) in controll of your private keys, you're not (the only one) in controll of your funds.

The only "upside" i can imagine by storing all your funds on an exchange is that it's convenient... So you can pick: convenience or security.

[ryjin1007]

there are some benefits and risks among those two first when you put your funds on exchanges you can easily buy coins or tokens that is pumping and do buy and selling but the risks of it we dont know that exchanger will go disappear, on the wallet side your funds is secured but not all the time because there are so many phishing site right now to be cared of.

[roadwell890]

if you prefer to be safe, make sure you keep the asset at the locak exchanger with extra security
different from if you save using private key, surely you will be easy hacked only with private key only,

[Rhaiyah]

It depends on what did you do, trading or hold? If you are going to trade you must put on exchanged. Actually my coin is in the wallet it's because I planning to hold them for the long term and save for the future.