Exchange or Wallet?

[Mr.grin]

In my opinion, what I really wanted to use are wallets and not exchanges. After Mt. Gox and all those other hacks that happened before I am really not sure if I am going to trust those exchanges again. Security is maybe an illusion as long as they cannot guarantee that they would be able to make their websites secure. Also cold wallets are the most secure of them all so, it is really a no brainer which is the best.

well, I've had a lot of experience that I get about hacked exchangers, and it's really dangerous, and risky to keep the funds we have there. it's just that I prefer to save on the exchanger. well, it can be said it's easier, and practical. many of my friends do that too.

[AIRDROPSQUAD]

It depends. If you are an active trader, I think you need to save your assets in the exchange wallet.
If you are not an active trader, a cold wallet is the best option.

[CherRic]

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

Better have them both. Wallet and exchange are two different things and its better if you have wallet and exchange. In wallet, you will just store your coins for safekeeping. While in exchnage, you will trade your coins and make some growth over it. After trading your coins, put them back into your wallet.

[Akichiva23]

WALLET.  Exchange platform is not a place to keep your valuable investments,  the vulnerability of these exchange wallets to hacks is way to high and its too much of a risk keeping your coins in them, we have heard of the frequency at which exchange platforms get hacked, when they do, all your coins get stolen too, Unless you are a day trader,  keep coins in these platforms

[RebekittaH]

Id settle for wallets in this case, Exchange platforms are vulnerable to hacks, and we have witnessed it happen several times, with millions of dollars worth of coins stolen, wallets on the other hand can be encrypted to the holder's liking, an added advantage if you have hardware wallets  which  guarantees more safety

[harrycalik]

In my opinion even the most reputable bitcoin exchanges are suspect. Not because of intention but because of the many ways an exchange is subject to attack. An onsite wallet service is no better. As I said earlier anything that touches the internet is susceptible to assault

[Thefrolly]

I think its pretty common sense that keeping you coins on an exchange is going to risk them of being stolen or getting hacked. Just cause you will have to download some wallets and transfer your coins to them, which will require some time doesn't means that you should risk your entire investment.

[Mei1418]

I think better in the wallet because it does not do much change, unlike the exchangers who always make repairs, updates, and maintenance. it may be more at risk of losing our assets

[valessiobrito]

In my opinion even the most reputable bitcoin exchanges are suspect. Not because of intention but because of the many ways an exchange is subject to attack. An onsite wallet service is no better. Anything that touches the internet is susceptible to assault.

[Chefironside]

If you are a day trader. Exchange will be the good thing for you to hold your tokens, since you are also using them for trading. But, if you are a holder. I suggest to put it on a wallet. It's actually hard to hold your tokens on exchanges, they might say they were hacked, then everything you had will vanished.

[Vzae]

Adjust to your needs. if you want to keep a coin in a long time then the best way is to make a personal wallet. and if you still want your coins traded, you should put it on the exchange only..

[johnalyn]

I prefer you to put it in your local wallet than holding it in exchange because it is easy to use when you are a trader to pay online you don't need to pay some fees. And putting it in exchange sometimes have their maintenance that you cannot get your currency their while if you put it in your local wallet there's no waiting for some maintenance.

[Luntik45]

The exchange is a universal and very convenient way to store all your altcoins . No need to start a few wallets, etc

[Sevarchik]

If you don't want to trade don't keep your funds on exchanges.
5th factor authentication not save you when exchange wallet was hacked

[lmoe23]

it depends on what you will do, if you will be a trader or HODLer

but it's best to store your coins on your wallet. That's more secure than storing it on an exchange.

[Troysen]

When. It comes to security of your tcoins, you better chose the safest. Options and  the safest in this case is wallets,. We have heard of exchange hacks where millions of dollars worth of coins have been stolen . An indication of how vulnerable the exchange platforms can be. With wallet you can encrypt them to your own liking especially when using hardware wallets

[firozat01]

It is always better to keep money in different places. So I think it is good idea to organize wallets for every currency. On my mind it should be well-known reliable services. Then you will be sure about your savings.

[eiijee160613]

Wallet and ledger , don't put your coins on exchanges its too risky like I experienced today I got hacked in hitbtc and stole my 2 coins LoL

[Jezren]

If you choose to hold a token for a long term profit put it in your wallet its safer because sometimes exchange site are having problems and some are getting hacked.But if you like to trade keep it on the exchange and secure your account because transferring it back and forth on your wallet and to the exchange may put your assets at risk.

[lancealtar]

If you plan to sell your tokens in the near future and wait for a more favorable price then definitely need to be stored on the exchange. If you do not plan to trade on the stock exchange then it is better to keep it on your wallet.