Exchange or Wallet?

[Fahim]

I would not advise you to keep a lot of money on the stock exchange. Because hackers often attack the stock exchange. The fact that your wallet is hacked is less likely than the fact that a hacker attack will be directed to a large stock exchange. I also saw that some people even hold coins based on Ethereum on different purses. Thus, they separate the risks.

[_IRMAN]

Depending on how long you will keep it. If you save it only for short term, no matter you keep it in exchanger or wallet, but if you keep it for the long term I suggest you to save it in the wallet, because it is very dangerous to store a long term coin on the third party (exchanger)

[idgaf007]

For long term holding use a hard wallet it is the most secured place you can store your coins. only put on exchange if you will day trade and never login to any other device for extra security. change your password once in a while also and you will be ok.

[EtherSource]

No reason not to diversify.

Keep some in an exchange so you can quickly sell/trade as needed, and some in storage on a local wallet.

Also, can keep across multiple exchanges to avoid risk, however the exchange fees for transferring can be annoying.

[omfg.xekcep]

Very important to know if you take coins for a long hold or constantly trade?
I keep everything in my wallets, because I have a long hold my coins. The advantages of this are that the coins are exactly mine and there will be no problems with the withdrawal from the exchange. Although this is unlikely, it may still be that the exchange can take out coins on a long time or even stop withdrawing. Who played poker, he knows FTP and UB / Absolute, they were giants, but they went bankrupt in ONE DAY.
Cons to keep coins in your wallet. I have few coins, but still have to use etherium, waves, neo. Another big minus. If the market urgently needs all my coins for some kind of operation, then you have to spend time and a few fees.
But I am ready to put up with these two minuses, but be safe, even if a large exchange will not withdraws coins.

[ValarMorghulis]

Wallet is far more better than exchange in my opinion.
wallet is very secure like MyEtherWallet.

[biskitop]

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

What do you mean? comparison between exchange and wallet?
then here you want what? to exchange coins or save?
if you want to save a coin, or token you have, please open a wallet account and save it there. if you want to trade your coins, or your token, please go to the exchanger. when you want to open exchange, you also have to enter the private key of your wallet account, because all the coins or tokens saving in your wallet account.
so what do you want?

[griezmann]

in my opinion, i think wallet is still the best for me.
I used MEW since i join cryptocurrency space, i haven't face any difficulties or problems since then.
exchange is more risky than wallet, because there are so many hacker in another exchange that doesn't have very safe security.

[jayco25]

To keep your coins safe use wallet not a exchanges. Many exchanges are now being hacked and millions of dollars are lost with the coins hidden by traders in exchanges. So it's better that your coins are hidden in the wallet because it's safer


#Datarius

[kiw_91]

The main idea of crypto currencies is a decentralization of money and payments. Thus in my personal oppinion, the best way to store you money/ crypto are wallets. Exchanges is only a medium of conversion. My oppinion in the future, that we are able to change between crypto currencies without the usage of exchanges, thus making the crypto fully decentralized. its just my 2 cents.

For now its better to store in your wallet and probably a small percent in exchanges for trading, buy, etc..

 

[sieemma]

As the name goes, exchanges are used for the purpose of changing one coin to another and I understand it as something people should do only if they really want to change their coins to another. If not, then keep your coins safe in your wallet. For the issue of trading, well, if you are into trading then you need to make for yourself high security profile on the exchange site and pray for no attempts by hackers. Better still, you can use the hardware wallets available on market and connect to exchange site for your daily trading. That will grant you the highest security of your funds.

[novocaine]

I always collect my coins in my cold wallet so i can control it everytime i want without risk of being hacked or pished, when i would to invest some i send to exchanges like Binance, Kucoin etc and after i returnt to my wallet in a safe condition.

Just dont give NEVER your private key to anyone asks you, its the first thing you have to know here in this community

Feel free to pm me if you need help about it

[korchenkov]

So.. Wallet is always the safest way to have, you'll be at peace knowing that you alone has only the full access in your fund. Exchange is not really meant for holding coins, it was made to buy and sell but no hold. Exchanges might fail at any moment and once that happen you will never know what to do. Im also having coins in an exchange but I make sure that it wont last there for so long.

[cryptokudi]

You will need both of them, you need exchanger to sell or buy coins and you need a wallet to save your coins. If you are daily trader I suggest that you need to have accounts in many exchangers, do not put your entire coins in one exchanger. If you're a long-term hodler, get them off exchanges and store them on a hardware wallet for safe keeping. Exchanges get hacked all the time. Even if you plan on holding coins short term like 1 - 2 weeks, I would still store the coins of the exchange to be secure

[minivan]

Well, of course you need to store in your wallet. It is advisable to use the most secure hardware variant. Store money on the exchange - a strange idea

[RodneyKings]

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 trading, better to keep your coins on an exchange of course since not every coin have their own wallet. The advantage of keeping your coins in an exchange is you can buy different altcoins here which you think is good and has a great chance that will increase its value after a certain period of hodl time.
If you are someone who doesn't want to do anything and just a passive investor, you can keep your coin in a wallet. It is like depositing your money in you local bank which also gains interest depending on the value of your coin in the crypto market.
The cons of both storage (exchanger/wallet is they are both prone to hacking. So be careful on this and only invest what you can afford to lose.

[mariaana]

In my own experience, I rather keep part of my token in an exchange and keep the remaining portion in my wallet.  Token that has the potential to earn for that particular period are keep in the exchange so that whenever the best price is offer I could easily sell it.  Prices are too volatile so I have to keep watch and there are altcoins that hype its price on a certain period of hour only.  However, I only keep my coins in reputable exchange that enables a 2FA authentication for security access.

[Kevin77]

I've been keeping my coins on exchange because it kind of reduces the expense of fees.

If you value the safety and security of your funds over fees, then you will definitely deserve whatever happens to them in the long run. Also, you need to know that you have nothing as long as you have them in those exchanges. It has been screamed on top of a lot of user's voice on this thread that keeping funds in an exchange which obviously you do not have the private key, gives you no control over your funds, except that you can withdraw them if you still have the chance. Wait until something happens to that exchange of yours, then maybe you will learn the hard way.

[nesso]

no exchange is fully secure. one day the site can be hacked, the exchange can lost, the owners may disappear from the middle. in such a case the effect will be very large and the prices of all the coins will be affected.
it is safer to keep it in the wallet as possible

[wewe123]

no exchange is fully secure. one day the site can be hacked, the exchange can lost, the owners may disappear from the middle. in such a case the effect will be very large and the prices of all the coins will be affected.
it is safer to keep it in the wallet as possible

If you are not familiar in exchange ,trading just do not proceed because you might end up on sites that have many hackers and might get your bitcoins, for me I better put my bitcois in my wallet for security and exchange when it is time that you are familiar with the process of exchanging bitcoins.