Diana_Lucia
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February 21, 2018, 03:41:04 AM |
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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.
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vendy86
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February 21, 2018, 03:45:09 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
Offline wallet more safety than Exchange wallet if you just wanna keep your coin for long term. but if you wanna trade it daily,better you keep it on exchange wallet. |
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Ambrosius
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Activity: 196
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“Revolutionising Marketing and Loyalty”
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February 21, 2018, 03:51:32 AM |
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Keep it in your wallet, when you want to trade spent some in your exchange for trading purposes. It is safer when you keep in your wallet. No one will know that exchanger will be a scam or hacker is on your back. Make sure that you have a hardware wallet or offline wallet, its safer than online wallet.
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RedArcher
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Activity: 101
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February 21, 2018, 01:46:29 PM |
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If you are active traders it's ok to put some of your coins in exchange, but if you are a long-term holder then the wallet is your best choice, but do not put the majority of your coin in exchange, we have seen a lot of complaints on exchange, being hacked or compromise, so play safe wallet is still preferable.
yes, wallets are much safer. although sometimes you might have a wish for making some trades, try to trade scapling. small aggregators are perfect for that. try to check coinmonkey.io, it's a sort of place with many exchange rates from many exchanges. |
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tarlok01
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February 23, 2018, 01:23:30 PM |
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Wallet means to keep something in safe, for long term but if you feel that u will invest for the short time then its better to go with Exchange.
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bug.lady
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Activity: 196
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Large scale, green crypto mining ICO
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February 23, 2018, 01:31:29 PM |
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It is a nobrainer, mate. The only founds that should be kept online are the ones that you actively trade. Then, there is no alternative.
But any founds not actively traded should be kept in your wallet and if this is a long-term state, then preferably a hardware wallet or cold storage.
The pros or cons, you ask? Security is on stake, here. If you keep your founds online you risk them, and that's it.
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fearcoka
Legendary
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Activity: 1008
Merit: 1000
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February 24, 2018, 10:30:47 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
All wallets are safe enough. The danger is that the user himself can allow him to steal his private key. Any mistake made by a person can lead to a loss of control over their funds. For these purposes, any hardware wallet is perfect. At the exchange is also not the worst option with 2fa. But do not forget that the exchange is not under your control, unlike wallets. Holding your coin on exchange meaning you are putting your money to their wallet and they will help you control that amount. About the theory, you still have permission to control your coin, but "through" the exchange, you can change that amount. But use offline wallet or desktop wallet or could wallet, you don't need to depend on any exchange, all permissions owned by you. |
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IloveDigibyte
Full Member
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Activity: 303
Merit: 100
POS / PRIMENODES
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February 24, 2018, 10:45:16 PM |
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I am more of a long-term holder and I keep it in hardware wallet. Before I bought it, I was using wallets. It is very rare for me to keep in exchange. I don’t think it is safe enough.
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Darius_Wright
Newbie
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Activity: 93
Merit: 0
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February 25, 2018, 04:08:48 AM |
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Your wallet only stores your crypto. It’d just be a reference point for the exchanges telling them that send x amount from wallet 111 to wallet 222. Or you buy a crypto and instruct them to deposit in wallet 111. These would explain in more detail. What are Wallets?( https://www.ethnews.com/wallets What are Exchanges? ( https://www.ethnews.com/exchanges ). |
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gwensarah1
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February 25, 2018, 04:32:18 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
From my own opinion it’s better to keep your coins in any safe wallet be it your ledger or any coldwallet available Having your coins on an exchange you might risk certain things for example hacking. A lot of exchanges have been hacked of recent and this might lead to the loss of this coins you’ve been storing also your coins or tokens my stand the risk of being delisted from the exchange where you store them, and if you are not an active trader you might not know and might come back and find out your coins are no where to be found because you probably missed the deadline to transfer to another exchange. So it’s more advisable to store your coins in safe and secured wallets instead of an exchange. |
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Destined2bGreat
Member
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Activity: 197
Merit: 10
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February 25, 2018, 05:17:13 AM |
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hi guys! what is the most secure exchange now? could you help me with selection  |
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ngacengan
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February 25, 2018, 05:32:09 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
for my usual trading using the onsite market wallet but to keep it long term I would rather keep in blockchain.info wallet for Bitcoin and MyEtherWallet for ETH and other token based on ETH. |
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Agent99
Member
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Activity: 147
Merit: 10
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February 25, 2018, 05:45:39 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
you can divide your assets into 2 category, 1 category to trade and another one for holding, so in this conditions you can tarde and protect your moneys. do not deposit all of your trading money only in one or two exchanges becuase some of them maybe will scam and you losses your money. you can deposit in more than 4 exchange for more protect and trade with 10% of your assets. and in this conditions there are no risk Threatening your money |
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elwiswoodie
Member
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Activity: 378
Merit: 16
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February 25, 2018, 05:48:35 AM |
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depending on the amount of storage
if you save more than 1000 USD, I recommend using wallet hardware, because it is safer
while if under 1000 USD you can use a wallet exchanger or personal wallet, both are the same ..
always be careful with everyone
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Kallipso
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February 25, 2018, 05:48:55 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
Ask yourself this question whether you bought a coin for a long time or not, if so then keep it on your purses just not online wallets, it's extremely risky. If for a short period of time they received a difference and were led out through the stock exchanges with a minimum commission. |
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robynmario
Newbie
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Activity: 168
Merit: 0
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February 25, 2018, 05:49:21 AM |
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I keep them in wallets and put them on exchange when needed and effective on profit. Because all put on the exchange can be evaporated quickly.
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MWesterweele
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February 25, 2018, 05:59:41 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
for my usual trading using the onsite market wallet but to keep it long term I would rather keep in blockchain.info wallet for Bitcoin and MyEtherWallet for ETH and other token based on ETH. I think its better if you put it to your wallet because there's a chance to grow much more your coin and if it grows than before then exchange it. Giving a chance to your coins to grow by putting it in the wallet, possible you can get more profit. But make sure your wallet is very safe because there's many hackers can get all your coins to your wallet, just be careful dont give your personal information. |
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BigTeeths
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February 25, 2018, 07:15:27 AM |
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Exchanges are always subject to hacking which many believe that the owners who are behind and just made up the hacking incident. So just keep it on your wallet because the only person you can trust is yourself.
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enawati
Full Member
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Activity: 574
Merit: 102
https://adonx.one
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February 25, 2018, 07:30:40 AM |
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I prefer to keep my all asset in exchange, so i can trade it immediately to make more money. But to be more safe, i use multiple exchange centralized and decentralized exchange, and also use security feature of all exchange. This is will minimize the risk.
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gamer_2088
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February 25, 2018, 08:19:54 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
I think if you're not trading every day, it's best to open a wallet for every coin. The exchange may close, and the purse in this regard is safer. |
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