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jonland22
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March 25, 2018, 11:48:37 PM |
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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
keeping coins in exchange could expose you investment to risk such as lost of coins due to hacking attacks but keep in mind that if you are going to trade it soon it's a good choice to keep your coins in exchange, holding coins for a long time should be done in wallets. |
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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Jombitt
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March 25, 2018, 11:53:47 PM |
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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
Do not use exchange wallet just for storing your coins, there is no way you can get back your coins once the exchange have been hacked. Only put the coins into the exchange if you are going to trade it and sell out immediately and withdraw to an external wallet once you are done. Hardware wallet such as trezor is one of the best wallet you can use for keeping your coins. |
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polyb1123
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March 25, 2018, 11:54:47 PM |
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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
You point out one of the biggest problems with the alts Janinjo11, where do you keep your keys? Right now I'm parking my ERC tokens on my Nano-S ETH address. I don't really don't want to mess with anything else at the moment except maybe for JAXX atm. The race is on for 'The Wallet' and there are a few contenders aiming that way. (here comes the pitch  ) The Pillar Wallet will offer an interesting solution of being a DEX itself if I am not mistaken so that way exchanging coins will be a snap. I want to see it with optimization algos to help me select the best coin for the exchange. PILLAR is aiming for what they call the 'Grandma' wallet, i.e. a wallet even a grandmother can use with ease!  |
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P60
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March 25, 2018, 11:57:18 PM |
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Keep all your coins in the wallet whenever possible especially if you are along term holder. Exchanges easily get hacked and the only disadvantage of moving to a wallet is the small transaction fees which is much better compared to loosing all your coins
Me too, I prefer to keep all my coins in my wallet; I think it is safer than exchange. I trust my wallet more than anything else so no matter what happened, I will hold and keep in safer place. |
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bennysax
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March 26, 2018, 12:24:58 AM |
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It is safer keeping your coin in your wallet since you have the key, you have control over it. Keeping in exchange can only be necessary when you want to buy coin.
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CrimsonGT
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March 26, 2018, 12:25:57 AM |
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Some exchanges are scams and you have less control than your own wallet. May be I am too old fashioned but I prefer wallet.
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Babyfaceless
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March 26, 2018, 12:27:25 AM |
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I have my assets deposited on both. If I want to trade I ysually hold my coins on exchange. But for long term , I usually hold it in my wallet. Plus coins in wallet usually get staking bonus
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posporo
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March 26, 2018, 12:52:39 AM |
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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
On my opinion, exchange wallet is the best wallet to keep your coins for trading. By this wallet you can easily make transactions such buying and selling, and also you can still use this wallet for holding different tokens, coins for long terms of trading. |
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nonik
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March 26, 2018, 01:05:53 AM |
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In my opinion, it depends on our willingness, for me the coin that I had would I store in the wallet because it will feel safer, and I have control over the coins that are owned, also we have the keys to access wallet and i can send where i want to sell to the exchange
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popoyuyun
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March 26, 2018, 05:49:43 AM |
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Basically , If you're purchasing coin from a exchange and planning to hold it long term its better to put it on wallet that has some private keys for the safety of the coins. But if your planning on a short term trading better to leave it on exchange sites. Better to use secured exchanges for trading and storing some coins.
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DaryaDancova
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March 26, 2018, 06:25:55 AM |
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Of course, it is better and more reliable to keep funds in the official coin purse. The fact is that not all coins have such an opportunity and such coins can already be stored on the stock exchange.
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mcconah
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March 26, 2018, 06:58:34 AM |
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Exchange and wallet has its own function. I chose wallet, to save my coin. It would be better and safer if it was hardware wallet. I use the exchange to sell or buy coins. I would never suggest to keep coin on exchange, too risky to scam or hacker attacks.
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Aum Ram
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March 26, 2018, 08:29:17 PM |
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The best way to store your coins is to use a hardware wallet. It's very convenient and safe. Tresor wallet can be used with the MEW. This is one of the best hardware wallets.
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LyudvigDD
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March 26, 2018, 08:38:51 PM |
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In my opinion, both the exchange and the wallet have their pros and cons.
Cons of the exchange: Exchange owners have access to your coins. You can not just return them.
Pros of the exchange: Some exchanges insure funds. In the hacker attack of such an exchange, most likely you will get money back.
Cons the wallet: With a hacker attack, no one will return you money.
Pros of the wallet: No one has access to it except you.
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joeydangerous
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March 26, 2018, 08:40:42 PM |
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I use both regularly and wallet more, most especially for new investment. If product gets active you put a little on exchange just to take some profit.
Both is a nice option to have. The safest method to storing the money is if you have an offline wallet. |
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md.falkone
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March 26, 2018, 08:44:15 PM |
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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 don't want to spend money, you have to keep crypto in cold purses. Perhaps, exchange a good way for simple and fast use. On exchange just you hold a little money which are necessary to you for transactions. |
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Elsonbol
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March 26, 2018, 08:49:46 PM |
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I am rather long-term holder, and I keep him in the hardware purse. before I bought it, I used purses. I very seldom should keep in exchange. I do not think that it is rather safe.
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Nashorn97
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March 26, 2018, 08:50:17 PM |
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If you are long-term investor, you should choose wallet (best variant will be hardware wallet). But if you skilled trader and you can predict moments for "buy low" and "sell high", your choice is exchange.
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Youngflydude256
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March 26, 2018, 08:50:44 PM |
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Wallet is safer than exchange because you get to keep your private keys by yourself.
But exchanges are hacked every now and then
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CoinFoxs
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March 26, 2018, 09:02:44 PM |
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Wallet.
Exchanges are not safe to store bitcoins for long time. Hardware wallets are best option to store coins for long time.
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