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Author Topic: How do you store your altcoins?  (Read 156 times)
gotliv
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June 03, 2018, 02:36:59 PM
 #1

Are you keeping them on the exchanges or downloading a wallet for each altcoin you buy? is there a multi wallet that has support for many altcoins?
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June 03, 2018, 02:40:34 PM
 #2

Keeping them in the exchange isn't the greatest idea.

When I was trying to 'gamble' by investing in a few altcoins, I had them stored in my Nano S (hardware wallet) which is the the most secured and recommended way. For those coins that aren't supported, I used Exodus (which was a great selection of supported altcoins), and for those 'shady' altcoins that aren't supported anywhere, I would either use their official wallet (if I trusted the software), or run it in a Virtual Machine to prevent it from possible infecting my computer.

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June 03, 2018, 02:59:45 PM
 #3

Are you keeping them on the exchanges or downloading a wallet for each altcoin you buy? is there a multi wallet that has support for many altcoins?

I keep only small values on exchanges, usually coins I expect to sell in the near future.
The coins I value and I hold for long time (years) stay on paper wallets, actual wallets I've installed to get an address then either kept the recovery seed, either saved the wallet onto a couple of USB sticks.


"Keeping them on the exchanges" means the money is not in your possession and may never be!

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June 03, 2018, 03:18:28 PM
 #4

The answer to that question is it depends. Some altcoins like ERC20 tokens can be stored in MEW or MyEtherWallet as they are all Ethereum-based coins. There are also NEM-based tokens that is stored in there Nanowallet like MEW. While some popular wallet apps like Coinbase can hold different kinds of coins in their app from Bitcoin to Litecoin. If you are lucky you can find a wallet provider that holds even more different kinds of coins.

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June 03, 2018, 04:06:22 PM
 #5

Most altcoins are standard erc20, so they can be stored in a single purse like MEW. I do not advise you to keep tokens on the stock exchange, it is not very reliable.
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June 03, 2018, 04:07:14 PM
 #6

I store them in MEW on my Ledger Nano S.
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June 03, 2018, 04:22:07 PM
 #7

Small amount I keep on exchanges.
And yes, there are some good multi-currency wallets.
I use JAXX and Coinomi. Many people recommend Exodus, but I don't like it.
And you can always keep Ethereum based tokens on MyEtherWallet as Harlot said.
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June 03, 2018, 05:17:19 PM
 #8

Almost altcoin are erc-20 so you can stored them on MEW.
For holding in 6 months - 1 year, im still keep it on exchange but only binance. If this coin isn't on binance, i will keep it in its own wallet.
If you hold for mid long-term around 6 months - 1 year, its better to keep on exchanges, so you are always ready to sell when u want but keep on trusted and big exchanges, not small and scam.

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June 03, 2018, 05:22:43 PM
 #9

Nowadays many altcoins that are coming in the market are based on Ethereum Platform that would be called as an ERC20 token, for that MEW is the best option to access them but more convenient and secure way is to manage your MEW by using Nano LedgerS hardware wallet as your private keys is not exposed online. For the coins that are not based on Ethereum platform and have their own blockchain then obviously you have to download their official wallet in your PC or use web wallet if they provide. But they can be fishy so the best way is to dedicate a single PC for their desktop wallets which you will be not using for your other activities.
Never store your coins in large amount on exchanges as you are not holding the private keys for it and the exchange might get breached, storing small is ok & when you are going to trade.
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June 03, 2018, 05:35:33 PM
 #10

All my altcoin that is ERC20 are stored in myetherwallet with the private keys secured offline. Those not ERC20 like  NEO or Waves are put on windows client downloaded from the coin website
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June 03, 2018, 06:18:15 PM
 #11

I store my altcoins through MyEtherWallet (MEW) and im checking it through MetaMask. This is one of the most secure wallet so far.
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June 03, 2018, 07:13:51 PM
 #12

Thanks folks! took to my attention!
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June 03, 2018, 07:36:19 PM
 #13

Those coins, which I want to keep, I store on my mew. Those that I want to sell, translate to the stock exchange and place orders with the prices that I need.

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June 03, 2018, 07:50:50 PM
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Try using MyEtherWallet combined with some of the cold wallets like Ledger. Pretty safe
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June 03, 2018, 07:59:38 PM
 #15

Are you keeping them on the exchanges or downloading a wallet for each altcoin you buy? is there a multi wallet that has support for many altcoins?

For long term, i use paper wallet. For short term, exchange or my computer wallet. I would like to buy Nano S in near future. I don't store it longer on non trusted exchange.Binance, bitfinex, bittrex and coinbase is where i store most of my cryptos. I feel safe with them.
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June 03, 2018, 08:48:44 PM
 #16

Did you already have tried a bittrex-account? (use 2fa!!!)

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June 03, 2018, 09:21:37 PM
 #17

MEW is the best choice. I use imToken, it is good too. the most important thing is that the wallet support erc-20 based tokens
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June 03, 2018, 09:49:07 PM
 #18

The answer to that question is it depends. Some altcoins like ERC20 tokens can be stored in MEW or MyEtherWallet as they are all Ethereum-based coins. There are also NEM-based tokens that are stored in there Nanowallet like MEW. While some popular wallet apps like Coinbase can hold different kinds of coins in their app from Bitcoin to Litecoin. If you are lucky you can find a wallet provider that holds even more different kinds of coins.
Great. Compatible wallets have been developed for these coins. I do store my coins in either MEW or NEM so long as my security access are not publicized. These two wallets have never disappointed me. I keep the coins till I feel like I want to sell them out on an exchange.
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June 04, 2018, 12:51:53 PM
 #19

After buying the tokens on the exchange, I usually forward them to my erc-20 wallet and store them there with a Trezor way


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June 12, 2018, 09:17:30 PM
 #20

It really depends on what you hold. If you're not trading you should definitely send your coins out of exchanges, but if you are trading, you may want to keep your coins in exchanges to avoid withdrawal fees (but then acknowledge the risks of losing your coins due to exit scams or hacks, and prefer trading on good exchanges like Binance, Bitfinex, Bittrex)

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