Exchange or Wallet?

[kenborbs]

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 depends on how will you use it, but if you focus only on one crypto currency I suggest you can go for wallet and it has a lot of features not just only of blockchain transactions. In PH I typically use coinsPH which is the default wallet in my country, whereas  I also use it to pay my utility bills and other payment methods.

[coingrow]

Never ever leave your coins on exchange, except for the ones that you want to trade regularly with. If you do not hold the private keys of your wallet you do not own your coins. Take example from mt gox and recent hack of nicehash, etc. Best way to store your coins is in a hardware wallet.

[Todoroki]

Never ever leave your coins on exchange, except for the ones that you want to trade regularly with. If you do not hold the private keys of your wallet you do not own your coins. Take example from mt gox and recent hack of nicehash, etc. Best way to store your coins is in a hardware wallet.

It all depends on your choice, if I better use a safe exchange for trading and save some coins. I will not use
the exchange to keep my coins in the long run but for day trading they are fine. Make sure you use a reputable exchange with appropriate security measures.

[Baraban66]

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?

In my opinion, it is better to keep coins in your wallet. Because there may be glitches or other situations on the exchange.

[FillJaS]

If you do not trade, but just keep coins for a long time and wait until they grow strong, then the purse.
If at least several times a week doing operations in the market, then the exchange.
In fact, if you do not get bored a million times a day to transfer money from your wallet to the stock exchange and back, you can store it on your wallet.
I think that the purse is more secure.

[kamalkk]

It depend on you are long term or short investing. If you are a long term investor i advise you should store all coin which you buy in your wallet, this will safer than. But if you are a trader, of course you have to store your coin in exchange, this will help you saving fee deposit and withdraw.

[SomeJasonGuy]

Depends on how you're going about it.
If you're a long term investor, wallets and cold wallets. Don't even think about holding long-term on exchanges.
If you're a trader, then it's fine to have some funds on an exchange. But always remember to use 2FA to keep yourself protected. And only keep what you're willing to lose on an exchange.

[katawan4741]

I prefer to keep my coins/tokens in my wallet because I'm the only one who's an access to it and safer that being in Exchange. When you coins/tokens are in exchange there are lots of things could happen, like it could be compromised, where hackers would be able to steal your tokens, then maintenance which cause your tokens to freeze up, unlike when it is in your wallet, once you want it to sell you could simply send it to exchange the tokens available then viola.

[ajeef]

For small acounts or trading accounts it's safe to hold your funds on exchanges. They are safe there even if there is hacking attack they usually have some sort of insurence for them and they keep coins in cold wallets so they can refund you coins. If you have big sum of coins keep it safe for yourself in cold wallets(usb drivers) so they can not be hacked cause they are not online.

[@S10]

wallet is best storing coin and exchange is best is trading when you are good traders you can earn big profit otherwise you can holding your wallet.

[Ekosistim]

i think its better save them on wallet, because some altcoin doing airdrop for holder and usually they will give to the holder who is store they token on wallet, not exchanger.

[ValerKat]

Never ever leave your coins on exchange, except for the ones that you want to trade regularly with. If you do not hold the private keys of your wallet you do not own your coins. Take example from mt gox and recent hack of nicehash, etc. Best way to store your coins is in a hardware wallet.

It all depends on your choice, if I better use a safe exchange for trading and save some coins. I will not use
the exchange to keep my coins in the long run but for day trading they are fine. Make sure you use a reputable exchange with appropriate security measures.

It really depends (!) and despite of all written above it also depends on the amount of coins you have. To my mind, it's a bad idea to leave a lot of coins on the exchange. Once they can vanish against all expectations and no one will help you to get them back.

[akminer]

In my own opinion I will advice to keep/store your cryptocurrencies in an external wallet. That's if you can afford the external wallet and the transfer fee.

[NORD YGGDRASIL]

For the storage of tokens based on ethereum a combination of hardware wallet and MEW - is ideal. This is the most secure option for storing any amounts of tokens that belong to you.

[Advicerabi]

According to me it is safer and a way better option to keep your coins in wallets. Exchanges are mostly used for trading because all coins are not listed on all exchanges.

[Slaxx]

If you like for a long term! I definitely say to use wallet rather than exchange it. Its because if you try to put that on exchange basically your digital money is not in a safe place.

[voxdu12]

of course, a purse, much safer, although not always, sometimes exchange is safer if a person goes to a fake purse, well, exchanges are often hacked, it's up to you

[sylviazapanta19]

Better to hold in your own wallet unless you're only keeping them for a short time.

[Vjatri]

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

According to me I have used both exchange as well as open wallet.

If you are holder then goes with open wallet.
If you want to do trading as well as then goes with site exchange wallet.

Both are different perspective so choose according to your requirements both are good

[Nisansala]

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 store your coin in exchange. but it little bit risky. But you are not long-term or mid-term holder then you can store your coin in exchange.
But you are going to hold mid-term or long-term then you can use wallet. there are many types of wallet.
My recommendation is use wallet to store your coins.