Don't hold your coin on exchange for long time.

[Paul23]

If you wish to hold some coin then use exchange only for during exchange. Just exchange your coin and transfer on your personal wallet that you have controlled. Specially you can use hardware wallet.
Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.

it's really true and thank you for this info..newbie like me are make aware because of this sharing idea.
-My first conclusion if you don't trade , you have no business leaving anything in there,
-my second opinion is does anyone else sees the irony of centralized exchanges for a decentralized economy?

[nightways]

agreed that's why i would say decentralized exchanges are future

Yeah these are. Literally right now it is just a hypothesis that may this coin would become so huge and this cryptos world becomes supreme in coming days or years. But this wasn’t even in thinking before 5 to 6 years. We never knew that this sort of world can become so strong that people become affiliated with them and earn money. They are now source of income for so many homes.

[btctestcolets]

I really thanks for the informations you've shared to us here in the trading discussion. It was very important for me because the same as you. i've always stored my coins in an exchange site though it was advice by my friends to do that for easy transactions which could be a wrong procedure.

[samycoin]

If you wish to hold some coin then use exchange only for during exchange. Just exchange your coin and transfer on your personal wallet that you have controlled. Specially you can use hardware wallet.
Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.

That's true much better that we careful for every we do to our coin. Exchanger is not a wallet so don't put or stay there your coin there's some wallet that we can you with private key. Put your coin to exchange if you need to sell it.

[coinfinger]

If you wish to hold some coin then use exchange only for during exchange. Just exchange your coin and transfer on your personal wallet that you have controlled. Specially you can use hardware wallet.
Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.

I agree with you its better to hold our coins in our personal wallet if this coin is a long term coin like top 5 coin in the market. Like no matter what happen bull run or bearish this coin will surely recover something like that. But if you're a day trader who depend on small profit but instant profit its better to put some of your funds on exchanges so that if there is a price spike you can sell and buy later at dip. I think any exchanges can be hack anytime just use the most trusted one to minimize the risk.

If you have planned to get into the crypto market and that you have somehow managed to invest some money into it and that you have bought some crypto coins, then it is you who has this responsibility to take care of those coins and that you need to keep them secure so that no one can take away those coins from you. if you will put your coin on exchange instead of wallet, then there are likely chances that you will suffer some loss.

[Korkorjkk]

I agree with you. You can only hold your coins in exchange if you are willing to sell them. But if you are a long term investor, it will be better you keep it in your wallet to prevent hackers from assessing your coins.

[sedahan13]

I dont have other choice because my purpose to buy crypto is for day and swing trading, i have to keep all my coins in the exchange. And to minimize the risk i used 4 different exchange, and always turn on all security features. And when i get profit i will withdraw some to the fiat until my capital back full, and use only remaining profit to trade back.

[rjsmith]

Hi, I am jr.member I don't hold my coin for long time because every month my need money.but thanks all trader for your information.

[a2offrb]

Your view are clearly stated, comprehended, agreed with and should be abided for any rational Trader or Investor. But as much as this does not necessarily affect the Day Traders who are actually using  a strong Exchanger and has been long existing there, also to anyone that must just have his transaction done and withdraw the balances back to his personal wallets, I still strongly feel that whenever it is involving a very huge amount of Bitcoin probably, hardwares like Ledger Nano S can be implored for storing of these coins aside prompt and instant Trading at the Exchange.

[emmybd]

It is certainly not safe to keep your coins on exchanges for a long time. Exchanges can get hacked. Many exchanges have reported hacking in the past. You would lose all your coins if exchanges suffer hacking attack.

[Souldream]

If you wish to hold some coin then use exchange only for during exchange. Just exchange your coin and transfer on your personal wallet that you have controlled. Specially you can use hardware wallet.
Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.

it's really true and thank you for this info..newbie like me are make aware because of this sharing idea.
-My first conclusion if you don't trade , you have no business leaving anything in there,
-my second opinion is does anyone else sees the irony of centralized exchanges for a decentralized economy?

Sometimes it is possible to hold your coin on Exchange fpr a long run of time because we have our daily needs that we need to sustain with. But we do have our different choices and gut feeling and if you feel safe or unsafe hodling your coin on Exchange for a long run then it was our own decisions all we have to do is to become a wise hodler here in crypto world.

[bitbunnny]

It is certainly not safe to keep your coins on exchanges for a long time. Exchanges can get hacked. Many exchanges have reported hacking in the past. You would lose all your coins if exchanges suffer hacking attack.

These are well known facts and every experienced user by now should have known all security risks.
First important rule is that exchange is not a wallet and this is not its purpose but people very often forget that because keeping coins at exchanges is convenient to them. Keep only the amount you need for trading.
But don't forget keeping coins on exchange exposes you to risk not only to be hacked but also there is the possibility that coins could be misused internaly from the exchange.

[supermine]

I dont have other choice because my purpose to buy crypto is for day and swing trading, i have to keep all my coins in the exchange. And to minimize the risk i used 4 different exchange, and always turn on all security features. And when i get profit i will withdraw some to the fiat until my capital back full, and use only remaining profit to trade back.

If you don't have any other option the better to use 2FA and IP authorization which can give resistance to the hack but exchanges are in risk of hacked fully in that case these cecurity features won't help us anyway.But now may exchanges are coming with new terms and regulations to avoid hacks like photo verification in Poliniex exchange which can be very helpful but more people are concerned about anonymity too.

[jitenrajput]

If you wish to hold some coin then use exchange only for during exchange. Just exchange your coin and transfer on your personal wallet that you have controlled. Specially you can use hardware wallet.
Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.

Yes, completely agree. That's the most important precaution while trading. If you have the private key, you have the coins. Lost private key, all your investments are lost.

[YTBitcoin]

If you wish to hold some coin then use exchange only for during exchange. Just exchange your coin and transfer on your personal wallet that you have controlled. Specially you can use hardware wallet.
Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.

I believe the fact but still I often keep some of my coins on exchanges as I have to do a day trade in sometimes when the market is better and for that I have to need some instant money on my exchange.
But I believe that exchanges are not better place for to store our money for longer time. I often keep them in desktop wallet when I do not need them for trade.
I mostly keep in most secure exchanges but still I feel fear.

[ahtsham90]

Exactly, its not safe at all. if the quantity of your funds and tokens are too high try to minimize the risk by sending tokens to their personal wallet. you can get alot of reward as well in the wallet liking staking and dividend pay but, people are unable to understand and thier all holdings are on exchanges

[jagdeepjd]

If you wish to hold some coin then use exchange only for during exchange. Just exchange your coin and transfer on your personal wallet that you have controlled. Specially you can use hardware wallet.
Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.

agree with the suggestion but some traders might not have that much fund which they need to buy hardware wallet for so in that case exchange is the only option and If you can take proper care about 2FA and email verification on withdrawals then you are safe to hold your funds on an exchange. But yes if the amount is higher then you must buy a hardware wallet to secure the funds.

[soenaderecho10]

If you wish to hold some coin then use exchange only for during exchange. Just exchange your coin and transfer on your personal wallet that you have controlled. Specially you can use hardware wallet.
Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.

agree with the suggestion but some traders might not have that much fund which they need to buy hardware wallet for so in that case exchange is the only option and If you can take proper care about 2FA and email verification on withdrawals then you are safe to hold your funds on an exchange. But yes if the amount is higher then you must buy a hardware wallet to secure the funds.

Yes,i agree you its not good to hold in longterm way because theres many hackers that can hack you so if you planning to hold in longtetm way its better to keep it in personal wallet that only you can control it and if you keep it in your private key in your wallet its hard to hack that so safety first so that you canot regret someday.

[Zekemporium]

If you wish to hold some coin then use exchange only for during exchange. Just exchange your coin and transfer on your personal wallet that you have controlled. Specially you can use hardware wallet.
Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.

Off course putting anything on the exchangers is very risky. However there are some of the coins which are very volatile and we may need them on the exchangers all the time to swing trade by putting them at the stop-loss order thus it gets locked out. But that much risk is needed. To avoid being hacked or stealing then we should always use all the possible authentication systems that are provided by the exchangers. For example, 2FA, SMS verification, Email Verification. This way we can make it far more strong.

[Idrisu]

If you wish to hold some coin then use exchange only for during exchange. Just exchange your coin and transfer on your personal wallet that you have controlled. Specially you can use hardware wallet.
Because many exchange hacked buy hacker. Many people loss their capital by hack.
So please don't hold your coin on exchange for long time.

Thank for your advice sir and of a truth I have left my coins at poloniex for more than a year now and I never feel risk the capital.  Some exchange are save just that  it is  safer for one to keep his or her coins in offline wallets.  Many are looking at the exchange as the most risky way for one to keep coins but to me this is because of the past experienced and we actually needs to correct this perception.