Exchange or Wallet?

[alexhunter54]

If u are going to make daily trading its better to keep in exchange but if u are going to keep long term its better to keep in wallet.

[1715199398]

1715199398

[Papaczed]

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 me it is still better to keep our coins on a wallet that is really secured like myetherwallet, rather than keep it on some exchange site, and for me there are so many wallet that is really safe and secured to put all of our coins. And that is the purpose of a wallet to protect our coins.

[h55]

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 is clear that wallet is better when you hold your coins in exchanges, it is very huge risk to you. because you have not your main keys to use your money also if exchanges closed or hacked your assets will be at risk.

[sinachy]

If you are a trader and short term holder of coin then exchanges might be an option for you, but if you are long term holder then wallet is a good option for you too. So it depends on the category you belong to.

[elosi]

For me it depends on how you are holding your coins, do you plan holding it for years? Months? or do you trade them? If you are trading them, it is of no use to store them on the wallet, because the transfer from the exchange to the wallet will cost you some money, if you are holding your coins like over 6 months then it is advisable to transfer to the wallet because if you leave it on the exchanges, you might wake up one and discovered they have place one rule which will make impossible for you to withdrawal your coin.

[Akorharrison]

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

now les make it this way; if you leave your coin on exchange what will happen to you if you find out that the exchange is no longer there or trading.. this implies that you have loose all your token for that particular exchange were you dump the token.
secondly if you create a wallet for that your token; what if the wallet is being hacked, what do you thing will be your benefit?

now the best thing to do is that "you will create a particular wallet for a particular token or for each token you have in your wallet so that if one addressed is being hacked you still have some reserved token in the next wallet.

I think this is helpful to you.

[Coin-1]

If you are a trader and short term holder of coin then exchanges might be an option for you, but if you are long term holder then wallet is a good option for you too. So it depends on the category you belong to.

Do you suppose that the exchange will steal the coins you deposited? Of course, the "cold" wallet is more safe, because only you know the private key. But in any case you will need to sell your crypto currency and transfer the coins to some exchange, paying transaction fees. In addition, it is easier and faster to create an address of some altcoin on the exchange.

[dexentrali]

Since only you know your private key, a wallet is better for you especially for the coins that you decide to hodl for a long time. I believe it is also better to have some BTC or ETH in different exchanges not to miss any opportunity.

[kriticko29]

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 me, i want to hodl my coin outside my wallet. Specifically in exchanges, because i think of the time that coin would pump and having it still in my wallet might took long time before i can send it to exchange and by that time the price might already dropped.

[DonaldTramponald]

On the exchange, it is recommended to keep only those coins that you use for day trading.  And the altcoins that you Hold, I recommend deducing on wallets, which are intended for these coins.  You can also try multi-currency wallets, for example, jaxx.  If you keep money on the exchange, then use more than one exchange.

[Meimille]

Exchanges are mostly used for trading because all coins are not listed on all exchanges and if your horizon is short term then you can hold your coins in any online exchange which have your coins but if your horizon of investment is for 2 to 3 years then you can hold your coins in online or offline wallet as per your wish. Trazor is best wallet to hold coins for a bigger term as it is not accessible without connecting it to a device.

[Walang-kekek]

If we are talking about the storage of funds, then the best solution will be to use hardware wallets, because they will be able to help you secure yourself as much as possible. But you should never keep money on the exchange.

[SabrinaBianka]

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

Obviously if you're a trader the better to keep coins is on exchange because you cannot keep that on wallet if you trading that with in only few months or weeks, But if you want to keep your coin for many year the better is your own wallet that you can controlled easily. Just make observation from your mates on trading. They cannot keeping their coins on the own wallets.

[lavishlife]

Exchanges cons,
1. You don't own the private keys of your wallets
2. Most are unregulated and uninsured

Wallet (Hardware) cons,
1. Not free
2. You may lost it(by not storing it in a safe place)

So in conclusion, I prefer hardware wallet.

[JRACPJRL]

To keep your assets in a trade is excessively unsafe, sincerely a couple of thousand dollars is fine, however there is dependably a hazard. Additionally, equipment wallets like record nano s are not that costly and furthermore a few coins have programming wallets that are allowed to setup. 100k or a million is much excessively dangerous, most trades still get issues due to crypto as yet being another market so kindly do store it in a wallet.

[Britainacoin]

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

please suppose that i have a gold store, and also you have some golds. is it safe to hold your golds in your home box or in gold store? it is clear that in your home you have good access to your golds. but if gold store rub or ban your golds, you can not access your golds. i perfer to hold my coins in my own wallet

[dmty.0809]

If you have a lot of coins, you better keep it in the wallet as in myetherwallet, because if you save directly on the exchange does not guarantee the coin is safe.

[crypteris]

It is better to store your coins in a wallet. Once a trading platform is hacked say goodbye to your beloved coins. Though having your coins in an exchange is quite advantageous too, let's say the price of the coin suddenly went up, you can easily trade it. Having it in your wallet, it will need quite some time to be confirmed and during this time price might have already dropped.
If you're in with holding the coin for a long time, store it in a wallet, and just trade it whenever you're ready or you really need to.

Totally agree. It's quite dangerous to keep investments on exchanges. They exist for trading. For purposes of storage it would be wisely to keep coins in wallet. But if you do want to use exchange, pick one that uses cold storage and two-factor authentication. I know of cex and bitstamp, are there any others?

[djscreem01]

Exchange is where you buy or sell cryptocurrencies.
Wallet is where you keep cryptocurrencies you have bought or have received.
The wallet is owned and controlled by you Note that Exchange can be hacked anytime, so you are advice to get a wallet in other to secure your coins.

[TirionLannister]

I believe that it is much safer to store its cryptocurrency on purses. Since, if you keep your coins on the exchange, then your private keys are kept at the stock exchange. And from private purses private keys are only with you.