Exchange or Wallet?

[Nboramir]

exchange sites are better to make transactions quicker and take advantage of instant fluctuations. But from a security standpoint it seems much more accurate to keep it in your own wallet.

[blx18]

Wallet and and cold storage...never keep on exchanges.

[billyj111]

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 actively trade, then on the exchange, because it will be necessary to sell quickly or quickly buy coins, and if you are a holder then of course it is better wallets, because it is safer

[cool_hikaru]

A local Wallet is a safer option.
That being said you need to have a backup on a physical media as data loss can account to loss of Bitcoins.
An exchange can be hacked and bitcoins drained.Although its fairly rare.Once or twice in a couple of years maybe.

[Alf Brur]

Keep tokens on the exchange only in case of speculation. In case of long-term holding keep it on wallets. Try to have desk-top wallets and Ledger because online wallets are also not reliable.

[Magister Magus]

Well, it's the same question if is it better to put your money in a bank or to keep them hidden somewhere at home.
At home they can be stolen by thieves, you can lose them, the home can burn, and so on, but it's under your control.
In an bank they are apparently more protected, but even the bank can bankrupt!

So, this is with crypto: if you have confidence that no one can hack your computer, or that you won't lose your keys and so on, it's a good idea to use wallets, but be careful because you don't have any protection.

In an exchange, usually you're safe, but if the site is hacked or it simply disappears, you won't have any control about the situation.

[eekkaa]

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

to be more secure I used to keep it in the wallet PC or wallet is more secure and I can control myself, because if you keep it in the place of exchange usually it terallu risky because it could have the market is closed and your balance will be stuck there.

[utlptc]

Of course, you should use wallet in your device.
If you store in wallet, your coins are safe. There is only one cons- You can't have instant access from other places if you use a desktop wallet.

If you use exchange, you can have instant access of all of your coin in one place but it is risky.

[seanavery11]

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

Personally, I'm in favor of wallets if you will hold your coins. It's safer to store coins in wallet. Sites can be hacked unlike wallets. Exchange sites are prone to hackers. You just have to keep your private keys. Don't lose it or else you won't have access to your wallet anymore. Say goodbye to your coins. But keep your coins on exchanging sites if you will trade immediately.

[OKEYDOKEY]

There have been several exchanges being hacked, but your wallet can also be hacked. It really depends on whether you feel safer keeping it in your own hands or the exchange. Also if you are willing to trade you coins often, exhange might be a better idea.

[wiik]

I think it is best to keep your funds in your exchange wallet . Tho you should be careful on which exchange site you are going to store it . Make sure they have a good reputation or background on their security . I mean , no history of being hacked for long term . It is good practice to keep your funds in exchange site if you are a constant trader .

Keeping it in the wallet - This is good only if you want to withdraw or convert your balance into paper money . I mean , wallet can be stolen . hacked . If you have a hardware wallet then its the best option if you just want to protect your funds .

So it still depends on what purpose you want . If your a trader then keep it in your exchange wallet , because if you keep transferring your funds into your wallet , problems may come up like slow/high transaction fees . And during dips , you need your fund to be readily available always . On the other hand , if you just want to secure your $$ then like i said a hardware wallet is the bext option for that .

[Padawan40391]

In my opinion, it is better having a hardware wallet like nano s or Trevor. Keeping your coins over there. If you need ERC20, both of them supports it and can connect directly to MEW.
It is never a good idea to put money on the exchanges, as some of them get hacked, sometimes they don't let you withdraw, and usually they hold the private keys.

[target]

I think it is best to keep your funds in your exchange wallet . Tho you should be careful on which exchange site you are going to store it . Make sure they have a good reputation or background on their security . I mean , no history of being hacked for long term . It is good practice to keep your funds in exchange site if you are a constant trader .

Keeping it in the wallet - This is good only if you want to withdraw or convert your balance into paper money . I mean , wallet can be stolen . hacked . If you have a hardware wallet then its the best option if you just want to protect your funds .

So it still depends on what purpose you want . If your a trader then keep it in your exchange wallet , because if you keep transferring your funds into your wallet , problems may come up like slow/high transaction fees . And during dips , you need your fund to be readily available always . On the other hand , if you just want to secure your $$ then like i said a hardware wallet is the bext option for that .

It is of course not good to put your coins on exchange wallet unless you are ready to trade every day but if you aren't  and just want to hold, you are putting your coins in danger. There is no safe place unless its going to be in a wallet that you hold the private key. This is the most important of all that someone in the crypto should put in their minds. As a matter of fact we discourage systems that asks our private key as its like giving a password.

[Faolom]

I use Trezor and Ledger for Bitcoin.
Other cryptos I hold on Yobit. Sometimes Yobit opens Investbox for Waves, Eth, Doge. It's a good place not to trade, but hold and earn some interests.

[julianAm]

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 long term and hold I suggest cold Wallet, if you would like to trade then Exchange
another possibility is splitting, part on Wallet part on Exchange

[duchaitp]

To hold a long coin I chose a wallet because it is safer. Even though it takes time to sell, I still prefer wallets.

[Sniper150]

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 only good thing in keeping your coins in some exchange site is that, if hard fork was happen during your coins is in exchange site, you can get another coins but it is different from your old coins. While if you open a wallet for each coin, it is safer than keeping all your coins in only one wallet. Many wallet account are too much expensive in sending gas for trading and transaction that's why I have only few wallet accounts.

[dz roknroll27]

Keep some money on the stock exchange, some of the money on a cold purse. Situations are different, hackers, special services, scammers. That is it. If you are long term holder, don't keep it in exchange. Keep it in wallet, the best is hardware wallet.

[irenegaming]

Exchange is very convenient for trading as your coins are readily available when needed. Wallet is a better option for long term investment plan with an intention to hold.Wallets especially hardware wallets are safe and gives you control of what happens in them.

[jacaf01]

The best is to keep your coins in the wallet, the wallet you control your own private keys to the fund, the funds on the exchnage is not yours, exchnage can close down. get hacked or even hold your fund the way Bittrex did to some people recently