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Sniper76
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June 20, 2018, 08:17:34 PM |
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If you bought a coin for a long period, it is better to store it on your wallet, which has nothing to do with the exchange.
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Enochian
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June 20, 2018, 08:20:30 PM |
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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 prefer to keep my coins on Wallet. It's calmer for me. But of course some of coins I keep on Exchange, on good one |
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Yana_1
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June 20, 2018, 08:21:41 PM |
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For me it depends on what you are gonna do they are both useful in holding coins in a way that in exchange it is good for day trading or short term trading but if you are planning for a long term then I think much better to be in a wallet because you do not need to check your coins daily in this way you have control on both asset.
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jeungo
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June 20, 2018, 08:24:59 PM |
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On the exchange it is worth keeping only the money that you use for constant trading. At me the sum used for an exchange it only 20% from all volume as the most of money waits bulls, and there is no smsla them to touch in general. If you keep more money on the exchange, you risk becoming a victim of hackers.
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moonriver
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June 21, 2018, 06:54:59 AM |
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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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himel01
Newbie
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Activity: 31
Merit: 0
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June 21, 2018, 06:59:46 AM |
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if you want to hodl your funds then you should have to use your own wallet for safety. and if you want to trade then you have to use exchanges because there is no alternative. its simple. personally I use exchange wallet because I'm a trader.
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prdn
Member
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Activity: 504
Merit: 10
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June 21, 2018, 07:00:41 AM |
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If you really want to keep long term you definitely need to keep it in your hardware wallet. I think the exchanges are not safe
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daviost
Jr. Member
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Activity: 196
Merit: 2
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June 21, 2018, 07:12:12 AM |
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if you hold on mid term or want to trade you can keep your coin on exchanger
but if you want to hold it as a long term investment, you better choose wallet to store your coin.
cause exchanger sometimes can be hacked and your investment gonna gone too.
both of them have their own risk. if you forget the private key in your wallet then your coins/token is gone too.
so if you store it at the wallet, just make sure you backup your wallet/Private key and keep them secure.
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Rastafarian
Jr. Member
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Activity: 238
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June 21, 2018, 07:14:27 AM |
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I like keeping my coins in a well secured wallet of mine. I remember I was used to keeping a lot of my coins at an exchange site and could you believe that was hacked. All the coins I have toiled for were stolen. I learnt a lesson from that and decided not to be keeping coins at an exchange.
I also fear that the exchange system may be interrupted which can greatly affect me.
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Rastafarian
Jr. Member
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Activity: 238
Merit: 1
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June 21, 2018, 07:15:49 AM |
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I like keeping my coins in a well secured wallet of mine. I remember I was used to keeping a lot of my coins at an exchange site and could you believe that was hacked. All the coins I have toiled for were stolen. I learnt a lesson from that and decided not to be keeping coins at an exchange.
I also fear that the exchange system may be interrupted which can greatly affect me.
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loraalbert
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June 21, 2018, 07:18:22 AM |
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Each person has their own thoughts and views to choose from. all in line with the market trend. For my part, I have stored all the coins at the walllet on the exchange floor. and available at any time for profit or reservation. It matches the current trend.
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Salvation99
Newbie
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June 21, 2018, 07:38:43 AM |
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Exchanges are mostly used for trading because all coins are not listed on all exchanges and if your timeframe is short term then you can hold your coins in any online exchange which have your coins but if your timeframe of investment for 2 to 3 years then you can hold your coins in online or offline wallet as per your wish. Trezor and nano is best wallet to hold coins for a bigger term as it is not accessible without connecting it to a device.
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Fritz93
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June 21, 2018, 07:44:45 AM |
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It seems to me that keeping coins on exchanges is more secure than on purses. Because lately, a lot of exchanges are attacked by hackers, or the exchange establishes certain rules that make it difficult to trade or withdraw coins to your wallet.
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Gabus
Newbie
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June 21, 2018, 07:50:26 AM |
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Exchager wallet is not safe. If need to hold coin. You the wall it safe for your coin. But you not some information to other people. It safe for your wallet. If want exchange you charge the wall to exchange wallet. But if change the coin. You know the process before use. It any time to change the price. So check the price day by day. Then you get some ideas.
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jony35490
Jr. Member
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Activity: 422
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June 21, 2018, 07:55:23 AM |
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Wallet and exchange These two depend on our own needs. Because if we want to trade with any cryptocurrency, then we must keep our coins in exchange.Because without exchange you can not trade. Also if we think that we need to hold coins, we can put the coins on the wallet. Because if we keep on the exchange then there is a chance to hack. For this reasons it fully depends on our wishes.
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Onestepinhell
Full Member
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Activity: 462
Merit: 100
Good Morning
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June 21, 2018, 08:03:13 AM |
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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
in my opinion each method has it advantages and disadvantages, so you shoyld think what will be better for yoh personally, good luck |
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Liberto
Sr. Member
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Activity: 391
Merit: 254
Blockchain Stranger
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June 21, 2018, 10:14:23 AM |
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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.
Yes, this is the thing I coinsider everytime, so I just store my funds on exchange wallet only the time needed to trade, and then withdraw them right away, when the trade is finished. |
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lkcryptoman
Newbie
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June 21, 2018, 11:02:51 AM |
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To save your fund you should always put them in a wallet. Exchanges are only for trading. Do your trades then send directly to wallet.
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mjaranzasu
Newbie
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June 21, 2018, 11:06:34 AM |
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Wallet and exchange These two depend on our own needs. Because if we want to trade with any cryptocurrency, then we must keep our coins in exchange.Because without exchange you can not trade. Also if we think that we need to hold coins, we can put the coins on the wallet. Because if we keep on the exchange then there is a chance to hack. For this reasons it fully depends on our wishes.
For me I prefer wallet that exchange, because coins in wallet are staking unlike in exchanges and storing our coins in wallets makes me more secure and no worries that it will be hack like in exchanges. It still base on us and how we gonna use it. |
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blingow
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June 21, 2018, 11:26:53 AM |
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For this, ill settle for wallet, Exchange is only suitable for traders. There has been continuous reports of exchange hacks where a number of coins were lost costing millions of Dollars, storing coins in an exchange wallet is not a risk worth taking at all especially if you are not constantly trading, Private wallets are safer as you are able to encrypt them to your own specifications and liking. With the invention of the hardware wallets, like Ledger Nano S, the safety of your coins is as good as guaranteed.
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