Exchange or Wallet?

[kuronokishi10]

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

according to me it is safer and a way better option to keep your coins in wallets rather than exchanges.
many people have lost a lot when  exchanges suddenly closed or had withdrawal blocked,and there are way more chances of hacking.
while wallets are safer and till date no one has faced such problems from any legit wallet.

[HBKMusiK]

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 would not ever keep my funds on exchange even if I need to sell it fast, you can loose it all from the exchange, I keep everything I have in my wallet with my private keys, if you are afraid of loosing funds you can buy yourself a Trezor or Legder Nano S(best in my opinion).

[iamMhew]

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 tokens/coins in exchange are too risky, but if you use the exchange just to sell your token in just maximum of 1 month, it is not because keeping them for a long term can cause of loses or in some case (knock on wood) sites can be hacked. so i suggest you to keep your tokens/coins on its designated wallets for more security purposes.

[jorenpo]

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 your coins is very risky. What if the exchange you store it got hacked? Your coin will be frozen there.
Pros of it is you can exchange your coins very past without waiting for your deposit to come.

[Nivelir]

The question is really very important, because a lot of people, for some reason prefer to use exchange wallets, but I use both of them, because there are all kinds of situations, so I use both options

[sieemma]

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. 

You are very right. I usually leave coins that I use for trading on exchanges. It is very dangerous to leave coins on exchange when you don't trade daily. 

[hheight]

Keep all coins online is dangerous. Even the most trusted exchanges can be hacked or closed. If you are an active trader, keep the needed amount at the exchange, but all "inactive" coins should be at wallet.

[emberbekas]

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. 

You are very right. I usually leave coins that I use for trading on exchanges. It is very dangerous to leave coins on exchange when you don't trade daily. 

That is the best way to avoid something bad that may occur with the exchanger. Send our coins to an exchanger only when we intend to trade it and don't leave our coins on exchanger for a long period of time.

[gulshan1]

Both are advantage and disadvantages to keep the coins holding. Suppose you hold coins on the online exchange and that was hacked by the hacker then no body have any solution to recover the investment. if you keep your coins in offline wallet and due to any reason you lost your wallet or its data and can not recover from any where then this is also loss. In this case online wallet is best but in that case hacked by hacker then offline wallet is best. Now your choice is depend on you.   

[Obi2024]

If you are not day trading with the coins, then there is no point leaving them on the exchange, even if you are day trading, you still need to get a wallet you have control of the private key so that you can save some coins there from time to time.
If you are not day trading your best bet is a wallet.

[Desscount]

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 will not exchange your altcoin with local money or trade it, you should keep it in your wallet to avoid something you do not want. but if you are a trader, it is quicker and simpler to keep it in exchange.

[DeadCoin]

Its better to have wallets for each coin and have these wallets secured with 2FA or any other secured authendication option. As the coins are earned or bought so hard, its good to keep them in our own wallets. At times the sites may hacked or closed (at times). Even wallets can be hacked, but its more convenient and secured to have out own wallets for the coins we earn or buy. Exchange can be only used to either purchase or exchange the coins.

[Noobaru]

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 would say a bit of both. Organize your coins and tokens into many different wallets and exchanges with amounts you are willing to lose if things get compromised. By doing that, even if some wallet/exchange gets hacked, your loses will be minimal. Sure, it takes a lot of work to get everything up and running, but better safe than sorry and most importantly, you will be flexible. Imagine a coin that hits all time high and stays there only for a couple of hours. If you would have a coin like that in your wallet and the network is clogged, you wouldn't have time to send it to you exchange. By having different coins on exchanges you can avoid that risk. Search for top wallets/exchanges for different coins and allocate them there. At least, this is what I would do and I'm not saying my advice is better then anyone else's. At the end it's up to you.

[rosezionjohn]

If you do not have the private keys to the wallet where you keep your coins/tokens, then those coins/tokens are not yours. If you want to store for long term, always use persona wallet.

[DedvTapkax]

If you do not have the private keys to the wallet where you keep your coins/tokens, then those coins/tokens are not yours. If you want to store for long term, always use persona wallet.

I agree with you. Exchange - this is not a place to store coins for a long time. This place is only for trade. If you withdraw money to your wallet, it will reduce the risk of losing money.

[Dread Pirate Roberts]

Im prefer to save it in your own wallet and save the backup code. and hard to get it back agan and will do a long process to solve that thing ( alot of them not success to solve this ). for my own i use of exchange just to exchange coin. after that new entry into my own wallet.

[Robin77]

Exchange is good but Wallet is more safe as Exchange. wallet with private key for coins that you dedicate hold for long term investment.
Remember not all of the wallets are fully secure too, Just try to consider how security measures already applied to those purses.
I use exchanger and 2fa for trading. thanks.

[Lonsdayl]

Oh, it is quite difficult question. On the one hand, if you need to store some unknown ERC20 tokens, you can use MyEtherWallet or any other online wallets. But it would be better if you can buy hardware wallet and store your money there.
The same can be told about coins from top-30 on coinmarketcap. It would be better to store them in Exodus or other wallets. Exchange platforms can be hacked and you can lose all your assets. Also, if you use centralized platforms, you have got extra risk factors, like government regulation or dishonest solutions from project's team.

[Geoll29]

I would choose wallet over exchange because it's easier to manage the money using wallet. It is also more convenient transfering money or transacting with others using the wallet.

[jc123]

It depends for me I want wallet to store the coins I'm getting. But if your for trade you can go for exchange.