old fart (OP)
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Bitcoin is the future
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November 29, 2019, 11:52:49 AM |
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Considering the safety of your coins and the simplicity of staking process, do you stake in centralized exchanges or you consider using crypto wallets that supports staking like imtoken, trust and atomic wallet.
Where do you stake?
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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semobo
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November 29, 2019, 11:58:34 AM |
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Wallets were created for storing purpose, so if you are going to store your token or coin then pick the right wallet which gives you private keys.
Exchanges are meant for trading only, if you are going to use them for staking then you are in risk of losing funds.
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Javi_Anibarro
Sr. Member
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Merit: 282
tBTC - https://dapp.tbtc.network/
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November 29, 2019, 12:10:55 PM |
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Of course inside our own wallet, many things happened with the exchanges these years and more importantly they are a target of the hacker. The probability for them to screw you is bigger than holding it on your own, I do not have any trust left.
Remember what people said, you do not have the keys that mean you do not own the coins.
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gaston castano
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November 29, 2019, 12:13:37 PM |
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Where do you stake?
I prefer staking BNB on binance, which means staking at exchange is my option. Exchanges are meant for trading only, if you are going to use them for staking then you are in risk of losing funds.
You’re wrong at this point, there’s a lot of exhange that give you bonuses or rewards for staking specific coins at their platform. And if staking at exchanges means a risk of losing funds, then there’s also risk for trading there. Risk can be found if there’s a risky situation made by the exchange. Ex : Th exchange has bad issues regarding trust. There’s few of them, but issue stays issue. But regarding funds, issue needs to be taken seriously. |
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ganeshramk
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November 29, 2019, 12:42:33 PM |
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Its always riskier to stake in exchanges. However I am staking my TRON in Binance. Till now it works for staking as well as all airdrops. But I do have bad experience as well with exchange staking. That exchanged is closed for ever now.
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btcdie
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November 29, 2019, 12:48:56 PM |
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I prefer to keep it in a personal wallet like a hardware wallet or have a private key to access the assets that I have. there is no safe place, but we must be more careful in taking steps, I remember with the words of someone that evil never sleeps. Even what happened lately many crypto exchanges are hacked, especially in Korea. If you want to trade, prioritize looking for exchanges that have strong security and large volumes. Long-term hold is not recommended to store on the exchange, it is better to be stored in a personal wallet / hardware wallet.
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semobo
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November 29, 2019, 01:24:01 PM |
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Exchanges are meant for trading only, if you are going to use them for staking then you are in risk of losing funds.
You’re wrong at this point, there’s a lot of exhange that give you bonuses or rewards for staking specific coins at their platform. And if staking at exchanges means a risk of losing funds, then there’s also risk for trading there. Risk can be found if there’s a risky situation made by the exchange. Ex : Th exchange has bad issues regarding trust. There’s few of them, but issue stays issue. But regarding funds, issue needs to be taken seriously. Even exchange with good reputation can happen so we might have chance of losing all our funds.If you want those bonus you can keep the tokens on exchange but its not safe to store that is my point. |
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Doell
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November 29, 2019, 01:24:18 PM |
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I'm safer storing my assets in a personal wallet although there are in some exchanges but for the long term I have locked the assets in the wallet and the key has also been stored in a place was never reached for old age
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nicolas1979
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November 29, 2019, 01:30:35 PM |
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Best answer is our wallet because we still have control but in exchanges no, sometimes system got error and we loss without can recover. Some exchanges already have stake program but if you keep in exchanges it will use to manipulate others members. So the right answer is wallet and I believe no one will stop you to stake in there.
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pakhitheboss
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November 29, 2019, 01:34:03 PM |
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Considering the safety of your coins and the simplicity of staking process, do you stake in centralized exchanges or you consider using crypto wallets that supports staking like imtoken, trust and atomic wallet.
Where do you stake?
Using an exchange is too risky, ofcourse there are big exchanges like Binance where you can stake. I prefer using a wallet and stake my alts because I have access to my private key. On Big exchange you do not. The most important thing in cryptocurrency is your Private key. |
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DaMut
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November 29, 2019, 01:48:03 PM |
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it is advisable to keep and stake your coin in your wallet because you have full control over your wallet. just recently we heard about a hack and an exit scam attempt from upbit and idax, what will happen to your coin if the exchange that you choose to hold it goes wrong just like upbit and idax?
this is why you need to hold it in your wallet.
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chaoscoinz
Sr. Member
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Activity: 1151
Merit: 260
☆Gaget-Pack☆
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November 29, 2019, 02:00:39 PM |
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Considering the safety of your coins and the simplicity of staking process, do you stake in centralized exchanges or you consider using crypto wallets that supports staking like imtoken, trust and atomic wallet.
Where do you stake?
I think the safest exchange to stake on may be Coinbase but even then, I wouldn't put my whole stash into one pot on a centralized exchange ever. Another exchange that offeres a much wider staking option for on exchange staking is Binance. I think the single best and safest option for staking would be in a wallet where you and only you have access to the private keys. An exchange, whether centralized or not, can still be hacked, jeopardizing your coins. |
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nicster551
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November 29, 2019, 02:05:29 PM |
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Well it is a simple question, if you are prioritizing your own safety then you must consider to stake them on your own wallet because you hold the private keys unlike exchange, the management holds it and if the exchange got hacked your funds will be stolen as well. And to take note that other teams runaway and do exit scam.
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fuer44
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November 29, 2019, 02:13:44 PM |
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for simplicity, I prefer exchange. in my opinion as secure, our assets will not be stolen. risking our money on the exchange will make it easier for us if you will later buy coins or save them. while the wallet is for storing only.
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dark08
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November 29, 2019, 02:15:27 PM |
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Considering the simplies method and the safety of your asset then you must go on staking on your own wallet rather than staking on any exchange site, but I have some altcoin like xlm, algo & trx that I staking on Binance exchange site that I can get free altcoin every month not too large but this is okay for me.
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Polar91
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November 29, 2019, 02:19:22 PM |
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Considering the safety of your coins and the simplicity of staking process, do you stake in centralized exchanges or you consider using crypto wallets that supports staking like imtoken, trust and atomic wallet.
Where do you stake?
I don't consider staking in centralized exchange for the safetiness of my coins. For storing my coins, I prefer to use hardware wallet; nothing else. In terms of using centralized exchanges, I tend to use it for the purpose of trading in which I'm always watching because it's more vulnerable from being stolen. |
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dewin
Jr. Member
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November 29, 2019, 02:19:54 PM |
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Exchanges are meant for trading only, if you are going to use them for staking then you are in risk of losing funds.
You’re wrong at this point, there’s a lot of exhange that give you bonuses or rewards for staking specific coins at their platform. And if staking at exchanges means a risk of losing funds, then there’s also risk for trading there. Risk can be found if there’s a risky situation made by the exchange. Ex : Th exchange has bad issues regarding trust. There’s few of them, but issue stays issue. But regarding funds, issue needs to be taken seriously. Even exchange with good reputation can happen so we might have chance of losing all our funds.If you want those bonus you can keep the tokens on exchange but its not safe to store that is my point. right, exchange can be shuted down any time. it's much safer to hold funds on some cold wallets |
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daniel002
Copper Member
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Activity: 382
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November 29, 2019, 02:20:59 PM |
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Users that stake their coins put them into a wallet that is connected to the blockchain. By staking your cryptocurrencies you help to secure the blockchain and keep it going. We should stake in wallet because it can help the project.
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target
Legendary
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Activity: 2226
Merit: 1041
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November 29, 2019, 02:24:30 PM |
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Where do you stake?
I prefer staking BNB on binance, which means staking at exchange is my option. Exchanges are meant for trading only, if you are going to use them for staking then you are in risk of losing funds.
You’re wrong at this point, there’s a lot of exhange that give you bonuses or rewards for staking specific coins at their platform. And if staking at exchanges means a risk of losing funds, then there’s also risk for trading there. Risk can be found if there’s a risky situation made by the exchange. Ex : Th exchange has bad issues regarding trust. There’s few of them, but issue stays issue. But regarding funds, issue needs to be taken seriously. I do that too for the only NEO token since binance is also distributing GAS. Though its not recommended to store on exchanges, its just that I wanna get it ready for disposal. Back when the price was $13 I bought some of it on June, it dropped but I kept it since I know I'd be receiving GAS. The beauty of haivng it there is that I can trade these NEO when it spike and buy back. I'd still just store NEO there but probably with ETH I'm going to stake using my wallet. |
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maianh09
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November 29, 2019, 02:38:43 PM |
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I put my Bitcoin in coinbase, the ERC 20 tokens I put in my IMTOKEN wallet application. Where my money depends on my investment strategy of long-term investment assets I will put them in the wallet I mentioned above. Short-term investments in just a few weeks or months I will put them on a wallet because maybe someone will pump up the price and I can sell them on time. Withdrawals and deposits will not be quick in the execution of the sell order.
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