Exchange or 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

I want to answer this question by another clear question that will help you to catch your answer. please answer this question and think about it: "can you put your assets in my wallet?" maybe you answer "No". that is true, when you have money; you only hold your assets in your wallet. so exchanges only places for changing and not for holding

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[1715158355]

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[lkcryptoman]

It is better to have your cryptos in different wallets, in case something goes wrong(hopefully not) you won't lose everything you worked hard for. Hardware wallets is also good for more security.  Wink

[wishman93]

Your number 1 priority should be keeping your money safe - so I'd definitely say that a wallet combined with a decentralized exchange should generally be your best bet, even if it makes trading a bit trickier.  If you need an exchange because of lower rates or more options or whatever, take the tokens off the exchange as quickly as possible.  Some of these exchanges are super-sketchy and are definitely going to be losing people a lot of money at some point.

[Old Bindu]

It seems to me that keeping coins permanently on the exchange - It's not safe. For these purposes, you better use the Hardware wallet. It will be better than keeping the coins on the exchange constantly.

[Stromspirit]

Everyone will have the desired difference here, it all depends on what individual you want to do. If you want to hold then the wallet is the best because you have full control over your assets with you have the key to access the wallet and you can send to wherever you want and vice versa If you want to trade then clear exchange.
Some owners have trouble getting funding out of certain exchangers

[grandfox0502]

Hi! If you want junt hold your cryptocurrency for a long time, use your wallet it is much more safe than exchangers. Even big and popular exchangers like HitBTC with 2FA entrance can be hacked. I lost about $400 last mounth on this exchanger. Pay attention to this post and do not do the same mistakes as I did.

[sikko]

I use both, but you can trust the wallet.it is very easy to use and I have never experienced any hardship or acceptance until now.

[rozenkreitzer]

It depends on what coins are being discussed. If you are talking about tokens on the ethereum platform, then the best option for storing these tokens is not the exchange but a hardware walet in combination with the MEW.

[wienzx99128]

Exchange is way too vulnerable to hacking plus your coin activities is pretty much exposed, wallets are safer bet as you can chose which one works for you and encrypt it in your own liking, always stay safe

[Shaour Zafar094]

I think the best option is wallet.

[joy99]

To me, wallets are by far better than exchanges for the mere fact that an exchange can be attacked easily but it is difficult to fish out a particular wallet and attack it so easily.

[Vaultitude]

Cold wallet is a must for anyone in crypto.

[PJRLJRAC]

Its really relies upon the sort of musings you have towards those coins. As prior demonstrated by a few supporters previously me, in the event that you include yourself more in exchanging, particularly day exchanging, l think you abandoning it on the trade is kinda great thou this at your hazard, however its goona make exchanging less demanding. On the off chance that you will probably hold for long haul ventures, I think securing your coins in your wallet is ideal. Its more secure from programmers than it being on the trade, thou wallet isn't 100% safe as well.

[popba]

100% wallet. You have the private key and you are the only one that sends money out. With exchanges, you are kinda voulnerable

[janelleshepard]

Cold wallet is a must for anyone in crypto. Its really relies upon the sort of musings you have towards those coins. As prior demonstrated by a few supporters previously me, in the event that you include yourself more in exchanging, particularly day exchanging, l think you abandoning it on the trade is kinda great thou this at your hazard, however its goona make exchanging less demanding. On the off chance that you will probably hold for long haul ventures, I think securing your coins in your wallet is ideal. Its more secure from programmers than it being on the trade, thou wallet isn't 100% safe as well.

[mikejack]

It depends on what suitable for you,if you are a day trader,better to use exchange wallet rather than other open wallets.because once the coin you hold on exchange pumped.automatic you can trade it.no more deposit and waititng for corfirmation,
And if your not a day trader and you think that holding a coin is much better,use your own cryptocurrency wallets.for your own security and your the only one holding your keys,no one can hacked,:)

[cryptovegwha]

They serve different purposes. Exchanges exchange, wallets store. Wallet is just an interface that generates your keys and helps you with transactions. In case of exchanges it’s the place where you can store, trade and exchange your crypto for fiat. Need long-term storage - go for wallets; Need flexibility while trading - go for exchanges.

[Clefable]

lways keep them in wallet , specially hardware wallets or paper wallet. Exchanges and wallets have both pros and cons. Exchanges give you instant buying and selling and 1 account is enough for all the coins. On other hand own wallet gives you feel of safety. Day trader can keep his coins in exchanges but for a holder it should be in wallet. It is better to store your coins in a wallet. Once a trading platform is hacked say goodbye to your beloved coins.

[vorseb]

Exchange are good for some daily trader. But for bounty hunter, holder it's better to save your coin on wallet. So it depends on what you do.

[allcryptominer]

Of course in your wallet and not on exchanges. Exchanges is only for quick buying and selling not for long term. Exchanges can not be trusted if you plan to hold coins for any extensive time. Only wallets you control since you are your own bank when it comes to crypto.