Exchange or Wallet?

[Idun]

Exchange is way too vulnerable to hacking plus your coin activities is pretty much exposed, wallets are safer bet as you can chose which one works for you and encrypt it in your own liking, always stay safe

Totally agree. I think that exchanges are more vulnerable, and above all, I haven't got my own tokens. If the exchange closes, it's hacked or it's in maintenance I will not have access to my coins.

Instead, I think that if I take the necessary precautions, my tokens are more secure in a wallet where I own the private keys. Of course, you have to be very careful and check the addresses you use well.

I try to use the exchange only when I'm going to trade with a currency, the necessary time.

[chakhigh]

I always think of an exchange website as a tool for growing one's crypto portfolio, but to be safe and keep your coins away from any risk, then I do recommend to rely on the wallet.

But, what about a complete solution where the user can exchange cryptocurrencies and save his coins inside the same Wallet?!!

AMON project will be the next big thing for this matter. It will simplify the exchange, storage and  spending of the major crypto-currencies, ALL from the inside of a single AI Wallet: https://amon.tech

[idgaf007]

Wallets are more secured than exchanges. I personally put my long hold coins in a hard wallet and put my trading fund in exchanges. try not to login your account in other people's device and never ever give your password to anyone. be careful also in phishing sites.

[screasy]

If I am ACTIVELY trading a coin I will leave it on the exchange for short term only. If I plan on hodling it more than a week I will put it in a wallet.  Remember, if you don't own the keys, you don't really own the coin.

[Hati]

Wallet. With adequate security measures, I believe that wallets are more reliable than exchanges. Also, at all times you have control of your own tokens. Exchanges are more vulnerable, they are in the crosshairs of hackers, and there is always the risk of the exchange's bankruptcy. I only keep in the exchange the tokens with which I am going to trade in the short term.

[rumexx]

I think for the reason of security keeping your coin with exchange is better because they have a better and stronger hacking proof than wallet created by individuals. But each person has the right to chose where he or she prefer.

[imdada]

Storing in exchange is risky because it can be hacked unless you are a day trader, it's better to keep it on exchange to lessen the transaction fees, but still it is risky. If you are a long term hodler or  investor, storing in wallet is a better option. Just take care your private key or password and make it highly secured.

[white.raiden]

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.

[Leonard2016]

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

The best practice is to keep only those funds on exchange that you want to day trade or hold on mid term. For other assets and long term investments is better to use cold wallets.

exchanges are not good wallets , if you can use them just as changer would be better than keep coins in them , just recently a japanese exchange got hacked and lost 400$ million  .

[samy_sa]

some exchanges, has problem with some country, because they are controlled by governors so, if you want to do not controlled by governors and protect your assets use special wallet for each coins. exchanges only good for changing and not holding of coins

[Cryptokingind]

It's depend on you but In my opinion if you invest for a long term then you go with wallet like Trazor wallet or any other hardware wallet but if you want to hold for shot term then you can go with any good exchange which have all the security features like 2FA.

[CryptoRama]

Wallet!

I recommend you to storage majority of your cryptovalues in your wallets, and you can have some on exchanges... also, if you want a wallet allmost all in one, Hardwallet Ledger nano s is for you, supports a lot of good currencyes and some bad, like ripple, and they will add many more!!

[H0M]

How did this thread go that big ... ad many have said it is obvious that the wallets are good to save in a long run while exchanges work when one wants to convert crypto into any currency. It looks to me that many wallet providers will expand their service and would make possible for their users to exchange cryptocurrencies for money, without leaving the wallets.

[Alex09012004]

If you plan to trade actively, then of course it's better to keep your money on exchanges. If you plan to hodl, then wallet is a better choice. You have full control and it's more safe)

[rost1989]

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 keep your coins for long term - than you should store them on your wallet. Besides you need to keep your private keys in a very secret and safe place with YOUR ONLY access to it.
If you are trading than - Exchanges, cause it's impossible to deposit and withdraw every trade.

The safest place is your own wallets with private keys.

P.S. I am also thinking of buying hardwallet - seems it has very nice protection.

[ICOPara]

You should use wallets to protect your coins or tokens from stole. Exchanges are so risky to hold your tokens there.
Also hardware wallets are more safer than online wallets. The devices are expensive but maybe you may lost more than device money with any hacker case.

[korchenkov]

I think it all depends on the level of risk that you are willing to accept, of course I'll write everything that is more reliable to store on a purse but to overtake coins there is also not an interesting occupation, so it is better to have both there and there

[IgniHash]

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's depend on your behavior. If you like to trade, then you need to keep it on exchanges. But if you a holder with big amount, it's better to keep your coins in you wallet. Another safest way is using hardware wallet like trezor or nano ledger.

[gurunanakji777]

Both has pros and cons but I am using both to keep my coins but my preference is exchange because sometime we are in hurry to sell the coins immediately because of sudden spike in price but if we have it on Exchange then its possible we can sell instantly on the other hand Wallet is most secured place for the coins to keep it but sometime we face problem in transferring from wallet to exchange it takes long than usual  because of confirmations but it happens very rarely otherwise Wallet is the best and safe place to keep your coins always secured.

[Diana_Lucia]

I personally use exchanges, and I do think having some coins on them for a short amount of time is relatively safe. I do not recommend leaving your coins on them for extended periods of time though, because you are exposing yourself to a greater risk by having them on the exchange over a prolonged period of time. Even a very short amount of time does still has risk.

A large exchange hack could be a crushing blow to the bull market that we have seen over the past few months. I really hope that we do not see anything like this happen. If we do though - I want everyone in the Steem community to be safe.