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Author Topic: how traders keep their crypto?  (Read 376 times)
FuzeX_AG
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October 15, 2018, 08:13:50 AM
 #1

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

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harizen
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October 15, 2018, 08:18:22 AM
 #2

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

"When doing trading" you mentioned right? Then it was on a exchanger/trading platform itself because obviously you will miss an action once there is a trend if you don't have any funds there. You can also consider to withdraw some as part of precaution.

If you always trades, using exchanges service is not totally wrong. You just have to understand the risks. Like you said, it's annoying to transferred funds anytime. Risky as it is but you have no other choice. So to minimize the risks, use the service of a reputables ones.

If your purpose is to hold it for quiet some time, then's it's more wiser if you considered to stored your coins on a wallet that you control your private key.


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October 15, 2018, 08:30:56 AM
 #3

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

"When doing trading" you mentioned right? Then it was on a exchanger/trading platform itself because obviously you will miss an action once there is a trend if you don't have any funds there. You can also consider to withdraw some as part of precaution.

If you always trades, using exchanges service is not totally wrong. You just have to understand the risks. Like you said, it's annoying to transferred funds anytime. Risky as it is but you have no other choice. So to minimize the risks, use the service of a reputables ones.

If your purpose is to hold it for quiet some time, then's it's more wiser if you considered to stored your coins on a wallet that you control your private key.




So you recommend storing funds in a wallet that I control my private key while I go sleep and don't watch the chart. right?
Do you do like that?
I usually just leave my investments in exchange wallet 2-3days while I pause buying or selling. I think it is risky but it's really annoying. so I just want to know what others do.

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October 15, 2018, 10:24:16 AM
 #4

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?
~snipped~

So you recommend storing funds in a wallet that I control my private key while I go sleep and don't watch the chart. right?
Do you do like that?
I usually just leave my investments in exchange wallet 2-3days while I pause buying or selling. I think it is risky but it's really annoying. so I just want to know what others do.

Please refer to my reply. I will repeat:

"If you always trades, using exchanges service is not totally wrong. You just have to understand the risks. Like you said, it's annoying to transferred funds anytime. Risky as it is but you have no other choice. So to minimize the risks, use the service of a reputables ones.

If your purpose is to hold it for quiet some time, then's it's more wiser if you considered to stored your coins on a wallet that you control your private key."


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October 15, 2018, 10:32:57 AM
 #5

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

Yea this situation is very boring. I do not trust too much to the exchanges even the bigger ones. I am keeping my coins/tokens in a wallet. But I only keep the amount which I daily trade at the exchanges. But the problem if you want to sell your coins immediate (like a sudden big drop or broke an important resistance) you always too late to transfer from your wallet to exchange.


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October 15, 2018, 10:42:04 AM
 #6

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

Yes it is risky. And yes it is annoying to transfer funds everytime you trade because you are an active trader. Solution?
On my own opinion, when trading actively, just follow and get the most security out of the exchange you are trading. More probably they have 2FA, email verification and stuff so you just maximize that. Also ask their live support so they could help you to add security for your account if you are trading huge volume.
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October 15, 2018, 11:17:05 AM
 #7

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

If you're leaving offers before going to bed, then of course you have no choice but to leave the funds. But if you have significant amounts of money on exchanges, I really suggest withdrawing your funds if you're not planning on using it for hours. Yes, it's definitely tedious, but better safe than sorry.

But yeah, if you leave out offers even if you're gonna go idle, then the best way for you to do is to try your best to secure your exchange accounts.

7 Ways To Secure Your Crypto Exchange Accounts: https://cryptosec.info/guides/secure-your-exchange-accounts/

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October 15, 2018, 11:41:21 AM
 #8

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

Remember, the safety of your account on the exchange platform always depends on you. The exchange platforms provide you with safety from their side but most of the account hacks come from the side of platform Users. Always use hard passwords and change them from time to time if you keep money on the exchange. In addition, most of the hacks come from your e-mailbox, so keep it safe as well. Use 2fa such as Google Authenticator or so to be even more safe.

Join our affiliate program - https://bitbay.net/en/affiliate-program
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October 15, 2018, 11:45:33 AM
 #9

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?
Holding a altcoin is a very simple thing and you should buy yourself a hard purse. Hard wallet will help you protect your account as secure as possible and will never be hacked by hackers. Ledger Nano S was the most successful wallet for me.

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October 15, 2018, 11:49:58 AM
 #10

Of course I will keep placing my coins in exchange because I don't want to lose an important moment, if I keep it in a personal wallet, of course it will take a lot of time to make token transactions.

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October 15, 2018, 12:21:18 PM
 #11

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

I do leave it in an exchange and never mind what will happen to it. But I only leave a small amount there. You shouldn't mind those things if you are truly sure about the exchange you are in.
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October 15, 2018, 12:34:29 PM
 #12

Definitely don't store your crypto in an online exchange that doesn't use multi-signature hot wallets, the number of exchange hacks in recent times is staggering.

Odds are you'll eventually get hit by one if you play the game for long enough.

Personally I only move a small amount of my funds to exchanges for trading, typically less than 10% of my portfolio, and any long-term hodl's I'll move to my ledger wallet or desktop wallet.

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October 15, 2018, 12:56:07 PM
 #13

Of course I will keep placing my coins in exchange because I don't want to lose an important moment, if I keep it in a personal wallet, of course it will take a lot of time to make token transactions.

Risking your funds on exchanges just so you wouldn't miss a rise or drop in price is not worth it. That's simply just an extremely bad risk:reward ratio. Why not leave your funds on your own wallet(with your private keys) and simply just use a bigger transaction fee($2-$3) when you immediately need your funds on an exchange just to make the transaction almost instant?

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October 15, 2018, 01:44:12 PM
 #14

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

I still don't get the point but I'm sure the answer is keep the asset ( coins ) in your wallet, never in exchange. After do some trade take the profit and exchange it into currency, this step is for back up fund and asset safety. We all know every action have risk, can't handle it never take the challenge. Simple like that but make sure you already prepare for the worst.
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October 15, 2018, 01:54:13 PM
 #15

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?
Depends on what kind of trading you are doing,if you are an active trader then you should keep it in the exchange to make money or it will be extra expensive and time waste while transacting the coins.Leaving in our wallet in exchange is too riky but if you want money you have to or better hold or move to long term trading.

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October 15, 2018, 01:56:52 PM
 #16

As long as you are trading, you obviously will not just want to be moving your trading funds around, and rather just classify it as a trading fund, which means you obviously have to accept the fact that this amount would always be in your trading account unless you want to remove some profits you have made, but as long as it is a fund you are using to trade, there is no point moving it all around.

What is important is to just make sure you are not putting what you cannot afford to lose on an exchange and even though you can still trust the exchange, that does not mean you should discard the fact that there is risk involved.

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October 15, 2018, 02:05:43 PM
 #17

As much as possible, you should avoid storing coins in the exchange wallet. Because the fifty percent of the money is in your judgment, so they never give you private key to handle the problems. I'm saying this because I've had this problem. Besides, the problem of hacking is one of the biggest problem.

 
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October 15, 2018, 02:07:25 PM
 #18

I'm not a trader, I'm a Bitcoin user.
But if I had to buy a lot of fiat I would certainly not send more BTC to an exchange than I could withdraw. So If I could only withdraw $50k due to limits, I would sell maybe $45k at a time. Having money sitting at an exchange is a bad idea. As soon as I have sold I would transfer the entire balance to a bank.  

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October 15, 2018, 02:45:18 PM
 #19

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?

never leave all your assets on the exchanger especially for a long time. in my opinion, if you have finished trading, the profits from your trade are stored in your personal wallet, for example nano ledger.
It's better to be a little annoying than everything you can lose

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aencarnaci
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October 15, 2018, 04:26:49 PM
 #20

If you always trades, using exchanges service is not totally wrong. You just have to understand the risks. Like you said, it's annoying to transferred funds anytime. Risky as it is but you have no other choice. So to minimize the risks, use the service of a reputables ones.

If your purpose is to hold it for quiet some time, then's it's more wiser if you considered to stored your coins on a wallet that you control your private key.
Yeah, and it is either you are trading or you are not. For anyone who is not trading, I do not expect having to take such a risk of leaving their funds in an exchange because they can lose it all. However, for someone who is trading, and they do that consistently, they apparently should not be trading with all the funds they have on an exchange. There should always be an amount in percentage allocated for trading purposes only so you would not end putting too much risk on yourself as a trader, just in case something goes wrong with the exchange.

how you guys keep your crypto when do trading?

leave it in exchange wallet? Isn't it too risky?
Store in a hot or cold personal wallet? isn't it too annoying to transmit every time?
Well, you would not have any other means of not having to leave your funds on an exchange, which is one of the reason we always say as well that people should only trade what they can at least afford to lose not just because of their idea or knowledge about trading, but most definitely for the fact that anything can go wrong with an exchange.

For this reason, I have always traded on 3 different exchanges while making use of all the available securities at my disposal with most of it being 2FA. As long as you are trading, there is no sense having to withdraw every single time to a cold wallet unless you have to.
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