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Author Topic: Exchange or Wallet?  (Read 8153 times)
Lan75
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April 19, 2018, 08:27:11 AM
 #1401

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 am a guy that would like to hold coins for a certain period of time and because of that i prefer to use wallet because for me it is decentralized. Unlike exchange where you have no control over it, in wallet you have full control over your coins.

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moonriver
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April 19, 2018, 09:18:38 AM
 #1402

Although I trust exchanges like Binance, I'd never keep much of my coins there.
It is always good practice to keep the majority of your coins in your own wallet.
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April 19, 2018, 09:57:54 AM
 #1403

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 it is not recommended to safe your coins at exchange wallet unless you want to trading.
if you want to do trading, it is ok. but if you are not trading, transfer and safe your coins into your personal wallet.

therwas
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April 19, 2018, 03:03:10 PM
 #1404

All depends on your summ of investments, if investments are big then use wallet, if small you can use exchanges to not losee fees to transfer coins.
hoanglann111
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April 21, 2018, 03:37:29 AM
 #1405

If I myself save in some exchange, then in hold within a certain period. But there are some coins that are kept in the wallet. just a savings account, especially a POS wallet
markers
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April 21, 2018, 10:50:15 AM
 #1406

In most cases, I prefer to keep my coins on wallets as I believe it is more secure. But there are moments when liquidity is more important than security and these times I keep money on exchanges.   

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April 21, 2018, 06:25:03 PM
 #1407

For me exchange is the best option. I can control my deposit and secure it from the reduce. Wallet is ok if you want to hodl coins in longterm.

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April 22, 2018, 12:28:56 PM
 #1408

According to my way of thinking, what they often say is always or better in the wallet. because I think more wallets are protected. and also if you do not have a private key. Then it's not your coin or token. Whatever you are looking for, you can find out about what's okay. it's okay what they do instead and then cashing it.
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April 22, 2018, 02:53:44 PM
 #1409

When I first invested money in cryptocurrencies, it was a small amount and therefore I did not fear losing coins on stock exchanges. But if you have a large amount and you do not plan to trade, then obviously you need to keep it in a cold wallet.

ahilees palu son
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April 22, 2018, 02:55:55 PM
 #1410

Do not store coins on the exchange. It is very dangerous. I think it's much safer to keep coins in your wallet. Coins do not belong to you, if you keep them on the stock exchange.
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April 22, 2018, 02:56:27 PM
 #1411

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 never a good idea to keep your long term holdings in the exchange.Read about the exchange hacks .Move it to your own wallet or better get a hardware wallet

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April 22, 2018, 02:56:34 PM
 #1412

I have experienced phishing when my token I have stored in the wallet so I better recondition to store your tokens on exchange

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onurgozupek
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April 22, 2018, 02:59:39 PM
 #1413

Exchange is not a good place to keep (HODL) your crypto coins. Indeed it's easy not to deal with finding suitable wallet software but exchanges do not share private keys with you. So that means your funds on exchange in fact are not yours. So please do not use exchanges as wallets. If you are not a day trader, HODL your coins in wallets that you own the private keys.

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Dreamlandzoom
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April 22, 2018, 03:47:09 PM
 #1414

I keep my investment all spread in different wallets and exchanges. There is no way to say what is safe. If you keep it all in the wallet then more or less you are yourself in control of them, but keep in mind that if you get hacked then nobody will help you. If you keep on exchange then they also have access to it, but if it gets hacked at least there is a hope that exchange support can help you. So the only advise I can give is not to keep everything in one place
kripkiki12
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April 22, 2018, 03:52:09 PM
 #1415

I have money on exchanges and in wallets as well.
Daily trade fund -> exchange
Long term investment -> wallet

But never more than 30% of overall fund on exchanges. Too risky. Can't wait for decentralized exchanges.
Cryptomania12
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April 22, 2018, 03:57:50 PM
 #1416

on exchanges it is unsafe to store coins if you hold them in long . In addition to hacker attacks, exchanges can simply turn out to be scams
Jaggi90
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April 22, 2018, 04:01:12 PM
 #1417

Exchange = Trading + risk of hacking
Wallet = Holding + safety
Now , it's upto you.

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danjonbit
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April 22, 2018, 04:07:38 PM
 #1418

There is a wallet spcifically on each coins , not all, but I cant trust yet putting my coins on a longer term on exchanges,. There is so much news about exchanges are being hacked so I am taking some serious measure storing some of my coins in a wallet. Well its secured as fas as i know. So I will prefer wallet over exchanges

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kanmo
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April 22, 2018, 04:16:43 PM
 #1419

Its not advisable to keep your coin on exchange but its a good thing to get a hardware wallet that support bitcoin and other ERC 20 tokens. I think with that your coins are safe.

Mardoker135
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April 22, 2018, 07:09:24 PM
 #1420

In my experience, the best way to keep money on a purse, Exchage can fail at the most crucial moment, but Exchage is certainly more convenient

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