How do you trade if you won't leave your coins on exchange

[Nellayar]

We are told several times on this forum never to leave your coins on exchange, well I know the difference about low rated exchanges and high rated exchanges and I know that many traders prefer high rated exchanges for trading because of volume and Liquidity but my point is there is no way to be a trader without your coins sleeping in exchange wallets, why? Because sometimes while you are asleep bitcoin can hit a new price target.

For example BTC is trading at 8000$ and I put up a sell order at 9000$, most times this won't happen in an instant, sometimes you wake up the next day and your order became successful isn't it? Now for those saying 'don't leave your coins on exchanges' how do you trade?

We cannot make it actually if we are a day trader. Withdrawal fees will kill our capital. We need to be a long term trader if we want to out it on our wallet and hodl it for a long time. Losing funds in exchange is the worst thing a trader encounters. Yes, trading is profitable yet it is really risky because we do not know if tomorrows, it will be lost.

So, I think that having a long term and short term coins are good enough to fight losing of funds.

Only, short term coins are  those on exchange and most of your portfolio must be in a wallet.

[1715021893]

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[1715021893]

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[Ramaraj]

We can buy the tokens from the exchanges, at the time of trading, if we use it long term investment we can transfer those tokens in to the Secure cryptowallet like the Aladdin wallet, trust wallet, Blockchain wallet or hardware wallets. if we use it for short investments we can trading through like etora platforms. we can select the platforms as we want based on trading,
Fiat to Crypto Trading.
Storing Cryptocurrencies.
Crypto to Crypto Trading.

[arufox]

For me is simple, im not a trader, im a holder. So how to trade? I send my coin to exchanges when i need money. This is safer than keep it on exchange, because we don't know about the future. Maybe you just misunderstood. People say "don't leave your coins on exchanges" not "don't deposit to exchanges"

[tbterryboy]

There are very less options alone left for me when I tried not to leave my capital within exchange. So,to easy solve this hassle, I decided to stick with only long running exchanges like bittrex which somehow helps me to eliminate all the fear about keeping funds within exchange. I also do trade in few other exchanges but I never keep funds for days across. I will immediately withdraw to my local wallet. In initial days I had lots of hesitation on paying fees and waiting for network confirmation but when I gather experiences, it became simply as my routine work.

For ethereum I still make use of myetherwallet which is just an online wallet hence I do not prefer moving ethereum hence and forth. But, basically if my cryptocurrencies are within binance or bittrex then I feel less anxiety whereas new exchanges and exchanges which are not providing support on this forum then I will immediate go for withdrawing once my trades completed.

[ene1980]

Some people store their big amount of cryptos in exchange as a wallet, it's not recommendable unless if he stored in the trusted exchange like binance then  it's ok. Trading new exchanges is risky you better find an exchange that has already gained popularity.

No one with huge amount of coins will be using exchanges as their wallets even if it is perceived as trusted exchanges as anything can happen in the market as we have seen for years that the security of an exchange is good as long as the exchange is not hacked and majority of the exchanges had their time loosing huge amounts including binance.

@OP just be logical and you will understand the concept, leaving your coins in exchanges and storing are entirely different.

[flagpara]

For me is simple, im not a trader, im a holder. So how to trade? I send my coin to exchanges when i need money. This is safer than keep it on exchange, because we don't know about the future. Maybe you just misunderstood. People say "don't leave your coins on exchanges" not "don't deposit to exchanges"

This topic is talking about trade, hold is different things. Traders always trust some top exchanges which have a really huge volume. Without an idex exchange, I can't see any decentralized exchange to use. To use or trade we have to send money in centralized exchange, then we have to leave money there.

[Surrapatt]

Trading from your own wallet is becoming easier this days. Decentralised and swap exchanges are coming up to make easy for traders to trade from their wallet direct. Binance has DeX. Another good one is from INJECTIVE PROTOCOL, a Second layer DEX that can layer on other DEXs and aggregate liquidity.

Yes, in terms of additional features on popular exchanges it is good, but the effect of ease is only a little if we compare it with the old way of trading, because trading in a popular exchange is also very safe for every trader, not only through DEX.

[Claudio99]

Even if you are cautious about exchanges been hacked it won't still safe you from getting caught in the trap, what if the moment you decide to exchange tokens in minutes and withdraw is the exact time hack takes place on the exchange? It's all risks surrounding crypto users honestly, use top exchanges they have better security protocols

[Claudio99]

Trading from your own wallet is becoming easier this days. Decentralised and swap exchanges are coming up to make easy for traders to trade from their wallet direct. Binance has DeX. Another good one is from INJECTIVE PROTOCOL, a Second layer DEX that can layer on other DEXs and aggregate liquidity.

Yes, in terms of additional features on popular exchanges it is good, but the effect of ease is only a little if we compare it with the old way of trading, because trading in a popular exchange is also very safe for every trader, not only through DEX.

DEX are a bit better than centralized exchanges but DEX are still hackable too, I just prefer a capable top exchange that will withstand hacks or reimburse users just like binance because they are just capable and we'll financed

[Leah38]

Its always safe to trade on legit exchange like Binance. Well there are always cases of hacks so better withdraw capital once reached just to be safe.

[Vectra]

We are told several times on this forum never to leave your coins on exchange, well I know the difference about low rated exchanges and high rated exchanges and I know that many traders prefer high rated exchanges for trading because of volume and Liquidity but my point is there is no way to be a trader without your coins sleeping in exchange wallets, why? Because sometimes while you are asleep bitcoin can hit a new price target.

For example BTC is trading at 8000$ and I put up a sell order at 9000$, most times this won't happen in an instant, sometimes you wake up the next day and your order became successful isn't it? Now for those saying 'don't leave your coins on exchanges' how do you trade?

The answer is VERY simple. Make use of a DEX like the Blocknet DX platform.

You don't need to transfer your coins anywhere, you're in complete control of your own private keys at all times. You can make both buy orders and sell orders without risking your security.

It's THIS easy, yet the vast majority of people refuse to even try it. 

What DEX has lot of alts to trade? It's mainly btc, eth, DAi

[Lagduf]

Some people store their big amount of cryptos in exchange as a wallet, it's not recommendable unless if he stored in the trusted exchange like binance then  it's ok. Trading new exchanges is risky you better find an exchange that has already gained popularity.

Did you remember when binance got hacked a year ago? In my opinion that will always become the worst thing to keep our money on the exchange site. That's the worst thing when the exchange site get a major problem. I can't even imagine when binance in the worst position at that time.

[ttcsalam]

You are right, your point of view is right.You have to keep an eye on the exchange all the time.Because the price of Bitcoin goes up and down and the price of many coins goes up and down.If there is no attendant in the market or there is no updated information, it becomes very difficult to understand the market.

[aditasetia123]

if we leave our coins in private wallet we could not sell our coin , to convert in bitcoin we must moved it to exchange wallet except in dex exchange we could trading without registering in site. private key will be the only access to this dex exchanges, but we must becarefull trading in dex exchanges, cause many time we heard account stolen there.

[Google+]

if we leave our coins in private wallet we could not sell our coin , to convert in bitcoin we must moved it to exchange wallet except in dex exchange we could trading without registering in site. private key will be the only access to this dex exchanges, but we must becarefull trading in dex exchanges, cause many time we heard account stolen there.

I think if you use a wallet like DEX, you will have a very high risk because you trade using your wallet directly and hand over the private key to the DEX website, which in my opinion will provide access to the website owner to find out the assets in your wallet, which means that the owner immediately the website can hack and take all the contents of your wallet.

[pawanjain]

Yes they say that we should not leave our coins on exchanges but that doesn't mean you can't leave your coins on the exchange overnight.
It generally means that you should not use the exchange as your wallet and keep your coins idle on the exchange.
Besides that, you should also not keep a large amount on any exchange since that is kind of risky too.

[the_thing]

We are told several times on this forum never to leave your coins on exchange, well I know the difference about low rated exchanges and high rated exchanges and I know that many traders prefer high rated exchanges for trading because of volume and Liquidity but my point is there is no way to be a trader without your coins sleeping in exchange wallets, why? Because sometimes while you are asleep bitcoin can hit a new price target.

For example BTC is trading at 8000$ and I put up a sell order at 9000$, most times this won't happen in an instant, sometimes you wake up the next day and your order became successful isn't it? Now for those saying 'don't leave your coins on exchanges' how do you trade?

If you are a trader then you would have to keep coins on exchange there's no workaround that IMO only thing you can do is use a decentralized exchange but in DEX liquidity is very bad.

[semobo]

Keep your coins on the exchange itself if you keep trading more often but people say move your funds to wallet when you have no intention of trading coins in the mear future.Anyway you can keep funds in exchange itself but you holds the risk of losing funds there.

[Dondeon]

Traders has no choice than to leave their assets on exchanges in order to executes a trade. There is no other way than that but my advice is that you should not leave your assets on exchanges if you are not trading it. For those that want to hold for a long time, you do not need to leave your assets on exchanges, keep them in your wallet for safety.

[b1k4ng]

those who say like that are for long-term investments, for day traders will still put their coins in the exchange, so you have to better understand what is said by everyone who says "don't leave your coins on exchanges"