slaman29
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May 11, 2018, 09:37:05 PM |
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You can guess that there really is only one answer from most responses here. Only you are responsible for your own money (that's the whole idea of Bitcoin and crypto anyway). Just I would like to add here, that simply holding your keys isn't enough. Practice responsible security online at all times. Practice careful methods, not convenient ones. Change passwords, do regular cleaning and checking up on your devices. This is money we're talking about, not just some key to an email.
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pidonkmo
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May 12, 2018, 03:34:32 AM |
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it depends on types of trading that you will choose. if short term trading so you should put your coin in exchange. yet, you can save it in your wallet if you do long term trading. holding the keys is not enough.
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clawdiw
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May 12, 2018, 05:06:32 AM Last edit: May 12, 2018, 03:40:17 PM by clawdiw |
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It depends a lot on your personal goal for every each coin/token that you possess. You're asking about shorting, in a way. Well, If you want to short, keep them in exchanges. This way you can have a sell order on a certain value hoping that the price will fall after that sell. In a similar case as it was this one lately, you will not know that everything will be red and and so for not being all the time in front of the computer checking the prices, I recommend to set a sell order on a certain "-" value and also an alert (Blockfolio) to be informed about it. For long term hodls, cold storage is the best.
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btcrich2020
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May 12, 2018, 06:49:10 AM |
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it depends on types of trading that you will choose. if short term trading so you should put your coin in exchange. yet, you can save it in your wallet if you do long term trading. holding the keys is not enough.
Short term is always risky, so you need to hold them in your own wallet instead of storing them in the exchanges. Even though we don't store them in the exchanges we have to keep our keys in a safe place to protect our personal information from the hackers.
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moneyangel
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W12 – Blockchain protocol
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May 12, 2018, 07:55:17 AM |
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The veteran people on crypto tend to say that you should keep your coins in your wallet, never on exchages. However if there is a strong downwards movement on a coin and you want to sell to buy latter at a cheaper price it may take quite a bit of time and fees to move it. What is the right strategy?
I think you need to plan ahead on when you will sell your coins. The transaction fees is not that high enough as compare to your amounts of your coins that might get loss at the exchanges. If you're a long term investor then you don't have problem about keeping your coins at your wallet.
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olubams
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May 18, 2018, 06:26:53 AM |
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The veteran people on crypto tend to say that you should keep your coins in your wallet, never on exchages. However if there is a strong downwards movement on a coin and you want to sell to buy latter at a cheaper price it may take quite a bit of time and fees to move it. What is the right strategy?
There is no doubt that time is of essence when there is need to make some decisions concerning the holding of stocks just like bitcoin increase in price from $8000+ to $8100 within the hour but that does not justify keeping all your funds in exchange sites. What is being suggested is that keep only the amount you will need on exchange sites in case if anything should happen, you have something to fall back on. And today there is less traffic on the network meaning the time lost can still be minimal in transferring from the wallet to exchange sites.
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boryanchik
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May 18, 2018, 06:56:23 AM |
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Keep half on the stock exchange, half on the wallet. The speed of the transaction depends on the Commission you set and the speed of the exchange. If the exchange is good, the transaction speed is good. Don't worry about it.
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boryanchik
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May 18, 2018, 06:58:33 AM |
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it depends on types of trading that you will choose. if short term trading so you should put your coin in exchange. yet, you can save it in your wallet if you do long term trading. holding the keys is not enough.
Short term is always risky, so you need to hold them in your own wallet instead of storing them in the exchanges. Even though we don't store them in the exchanges we have to keep our keys in a safe place to protect our personal information from the hackers. Afraid of wolves in the woods not to go. In order not to be afraid of hackers you need to have several wallets, several accounts on the exchanges. In this case, your funds are more likely to be saved.
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livingfree
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May 18, 2018, 08:55:06 AM |
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Short term is always risky, so you need to hold them in your own wallet instead of storing them in the exchanges.
You don't understand the concern of the OP, he knows that keeping your coins on exchanges are at risk and keeping on your wallet with your private key is the best. Nevertheless, he wants to trade and he don't want to experience the hassle of sending it again and again as he also wants to avoid some fees. Keep 10%-20% of your coins on exchange that you'll use for trading and the rest on your wallet.
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Retolin
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May 18, 2018, 10:07:37 AM |
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я дepжy чacть мoиx мoнeт нa биpжax.!!!!Иcпoльзyйтe биpжeвoй кoшeлeк!Bы нe мoжeтe кoнтpoлиpoвaть cвoй пopтфeль c пoмoщью oтдeльныx зaкpытыx ключeй.жeлaтeльнo дepжaть в кoшeлькe, ecли oни являютcя вaшими дoлгocpoчными мoнeтaми. Ecли этo нe тaк, вы мoжeтe дepжaть в oбмeн.
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themistocleess
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📱 CARTESI 📱 INFRASTRUCTURE FOR DAP
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May 18, 2018, 10:22:25 AM |
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i think there is not any issue for holding funds on exchange just dont hold it for long time, just to buy and sell and transfer to the wallet. dont make the exchage your permanent holding place
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South Park
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May 18, 2018, 02:35:21 PM |
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The veteran people on crypto tend to say that you should keep your coins in your wallet, never on exchages. However if there is a strong downwards movement on a coin and you want to sell to buy latter at a cheaper price it may take quite a bit of time and fees to move it. What is the right strategy?
The right strategy is really dependent on what your expectations really are, if you are a long term holder you are not going to sell your coins just because the price is going down, so you do not need your coins in an exchange and so it is better to keep your coins in your wallet, but if you like to try to take advantage of the price movements you need to keep your coins in an exchange so you reduce your fees and you can take advantage of the price movements.
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TGD
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May 18, 2018, 02:49:18 PM |
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The veteran people on crypto tend to say that you should keep your coins in your wallet, never on exchages. However if there is a strong downwards movement on a coin and you want to sell to buy latter at a cheaper price it may take quite a bit of time and fees to move it. What is the right strategy?
The fee is always included when you are into crypto currency. You just need to keep your coin in your own wallet for a security reason, exchange is vulnerable in hacking thats why beterans dont want you to do that. Just send the amount you want to sell in time you need it in exchange thats the best strategy you should do. before you stored it in exchange always remember what happen in mt.goax.
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Don't mind me | Just checking out here for Duelbits Promotion | Bitcoin 1M | Duelbits no 1
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Maestro75
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May 18, 2018, 04:03:24 PM Last edit: May 18, 2018, 05:16:15 PM by Maestro75 |
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The veteran people on crypto tend to say that you should keep your coins in your wallet, never on exchages. However if there is a strong downwards movement on a coin and you want to sell to buy latter at a cheaper price it may take quite a bit of time and fees to move it. What is the right strategy?
There is no doubt that time is of essence when there is need to make some decisions concerning the holding of stocks just like bitcoin increase in price from $8000+ to $8100 within the hour but that does not justify keeping all your funds in exchange sites. What is being suggested is that keep only the amount you will need on exchange sites in case if anything should happen, you have something to fall back on. And today there is less traffic on the network meaning the time lost can still be minimal in transferring from the wallet to exchange sites. I agree with you olubams about keeping an amount to be used on exchanges but determining how much should be kept there will also be an issue for the trader. As a day trader you will always need ready cash in bitcoin on the site of your choice for easy trade in readiness for any pump alerts. When you talk of keeping small, what percentage to be kept are we talking about here?
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Shavedcoconut
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May 25, 2018, 09:31:29 PM |
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First of all make 110% sure you are using a renowned exchange thats of course legit and wont screw you over. If you are watching the market and know you will be buying or seeling inn any moment, id advise to keep just enough in your exchange account in the case of buying since you should have a clearer idea about how much you wish to buy vs what you might want to sell. Keep moving what you wish to hold long term from exchange to wallet(preferably offline hardware wallets or similar since they are safest) and thats that! Its really up to you, hut i personally would not trust anyone with my crypto investment or money for too long or if we are talking huge amounts. Hope this helps
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dollarneed
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May 25, 2018, 10:32:24 PM |
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The veteran people on crypto tend to say that you should keep your coins in your wallet, never on exchages. However if there is a strong downwards movement on a coin and you want to sell to buy latter at a cheaper price it may take quite a bit of time and fees to move it. What is the right strategy?
They mean don't use exchange as your primary wallet or don't keep all your money for a long time on exchange, that's it. If you are a daily trader you might store your coins out there and It's risky but there is no other way, the point is cashout your money immediately from there when you stop doing trading, don't put your money on something where you can't control the private key.
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bitivan
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May 25, 2018, 11:23:45 PM |
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I agree that it's better when you have full control on your tokens. But if you trade actively, then it is not too convenient to keep all the tokens because you will always deposit and withdraw it. But if you prefer long term hodl, then of course keeping your money on the wallet looks better.
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KillyGon
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May 25, 2018, 11:37:39 PM |
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The veteran people on crypto tend to say that you should keep your coins in your wallet, never on exchages. However if there is a strong downwards movement on a coin and you want to sell to buy latter at a cheaper price it may take quite a bit of time and fees to move it. What is the right strategy?
if trading iam use wallet not exchanger trading only short time, so in exchanger hold never long time
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Balmoon
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May 26, 2018, 06:40:36 AM |
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For long-term holding, you should choose to hold your coins in an offline wallet. It's much safer than exchange wallet.
But for short-term trading, you must save your coin in an exchange wallet to sell it in the right pumping time.
yes I agree with you, I often do that, I never get caught in an exchange wallet when I want to invest long-term, and it is very detrimental.
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futureofeth
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May 26, 2018, 06:50:47 AM |
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If you are looking for long term investment better send your coins to concerned wallets in order to protect them but if you are short term trader better keep all security measures in the exchange. Private keys are best because it will be in our control to protect them.
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