Where do daytraders store their crypto?

[jerry0]

Assuming you trade a lot and are a daytrader and use binance, coinbase and all those exchanges, you need your coins on the exchange to trade.  But when you are done with trading that day, do majority of traders just leave their coins there till the next day?  Now if you are trading it with USD, then no issue then right since the balance would be USD or a portion of your balance is in USD?


If you are doing this with coins like ETH, you are going to pay a ton of fees each way.  Your exchange is going to charge you a fee and you going to pay a decent fee sending it back the next day.  Now imagine having many other altcoins where the fees are similar.  I can' t imagine people are depositing/withdrawing each day?  The deposit/withdraw fees would eat them up if they do ETH or even if they use a lot of other coins because the exchange is going to charge them a flat fee each time.


Obviously keeping your coins in an exchange is not as safe as a hardware wallet, but what do daytraders do?  If I daytrade, I would just keep my coins in the exchange until I need to withdraw or if I know I won't be trading for a while.  The other thing is some coins they want to trade, it is possible they can't store it in their hardware wallet because that coin is not supported.  So because of that, no other option than to store it on the exchange?  Or they use something like metamask?  But still they have to pay fees depositing/withdrawing right?

[1715142087]

1715142087

[Oilacris]

Each coin does have its respective non custodial wallets on which its been supported even though its not supported on some hardware wallets but its impossible that it couldnt be stored up somewhere.

This is one of the problems you would have if you do let yourself be too paranoid when it comes to coin security on which you would be thinking on actively pulling off your funds on a centralized platform

which i couldnt blame off several people who do have this kind of mindset but i do believe that majority of traders will just leave their coins in the platform as they could able to save up some fees and
wouldnt be having that hassle on withdrawing and depositing once again.

[Scripture]

I just store it on the exchange I’m using since I can’t do day trading if my tokens are not on the exchange.

Not all coins/tokens have their own wallet, its still better if you have hard wallet especially on storing coins for your long term hold since you have the control over your wallet. You can trust the top exchange to at least have some of your holdings but again, its not advisable if its already a big money.

[passwordnow]

If about to trade for tomorrow, just keep it there and if withdrawing it in the form of USDT, choose TRC20 or any other network where fee is very cheap.
There's no problem if you go in and out your funds and profits from the exchange when you're done. Just choose the alternatives that will make you pay cheap fees. Some uses to straight connect their metamask wallets if it's for BSC and ERC20 but we know that if it's on ETH network, fee isn't cheap. But with the recent changes, try to monitor the fees before you proceed. I see it sometimes cheap and tolerable.

[BitMaxz]

Actually, if you are trading with Binance and trading daily and you want to store your coins safely without spending too much I suggest use other stable coins like BUSD where you can withdraw it for free in your Metamask or directly to your hardware wallet if supported.

The same goes for other exchanges if your trading there only look for stable coins with other networks that support free withdrawal fees like the offer on FTX exchange and Binance.

Only withdraw them partially just to reduce the risk and its free withdrawal. Depositing it back will need you to pay a fee but binance smart chain transaction fee is pretty cheap.

Remember it's better than holding your funds on Exchanges there are sometimes happen in the past where exchanges suddenly disappear.

[adzino]

If you are using a centralized exchange, then you will have to keep it on the exchange until you are done trading. Once you are done, remove them as soon as possible and store them somewhere safe. The chances of your funds getting stolen is low, but the chances of your account getting frozen is higher.

-snip-
 i couldnt blame off several people who do have this kind of mindset but i do believe that majority of traders will just leave their coins in the platform as they could able to save up some fees and
wouldnt be having that hassle on withdrawing and depositing once again.

"this kind of mineset"? Lol, even the CEO of a centralized exchange (Kraken) warned  everyone not to store their funds and move their coins out immediately.

[Findingnemo]

From my experience they're not moving their funds out of the exchanges everyday and then deposit back into the exchange, yes there is a risk of exchanges can be hacked at any time but day traders can't make any profit if they're not ready to take the risk but day traders mostly don't allocate all their crypto capital for day trading just only a part of it, maximum 30% is what I had in the exchanges while doing day trading but now I am done and not doing it anymore.

[Jawhead999]

Daytraders will leave their coins on exchanges, although custodial platform is risky and not safe enough... but they don't have any choice here. Gaining profit by daytrading isn't easy and you may wouldn't earn anything if you always transfer it to your wallet. Since a daytrader can't protect his coins on exchanges, but he can still minimize the risk by not put all his funds to exchanges... only put some % that you use for trading.

[traderethereum]

As day traders, they do not withdraw their money every day or move their balance from one exchange to another because they already have a balance on another exchange.
They will only withdraw their money if they have achieved the target profit from trading lots of coins or tokens because they have also thought about how much they will pay.
Maybe every day trader has a different way of trading, withdrawing their money, or moving from one exchange to another.
So I guess it will depend on how a day trader will handle it.

[crwth]

I think you just answered your question because those are what most day traders are doing. I think it would also depend on what exchange you are in because there are possible things that you can do after trading, like extracting your profits and moving them to another wallet.

For example, in Binance, there are multiple types of wallets that you have there.

• Spot Wallet
• Funding
• Futures Wallet
• Margin Wallet
• Earn

There are more wallets, but I think it depends on your area and availability on where you are from. So I guess it's the trader's decision where they are going to put the profits that they made for the day. I would put it on Funding or just away from my spot wallet so my computation on how much profit I had for a longer time would be easier to compute.

[Maus0728]

Withdraw your funds whenever you've reached a balance that you're comfortable with and that will cover all of your fees. This will protect you from worrying too much about the possible transfer fee if you decide to keep your profits in your hardware wallet.

However, if you insist on transferring them on a daily basis because you are too paranoid (which is still a good thing), then the only option I can think of is to switch networks or use other exchanges and take advantage of the free transaction, as suggested by other members. However, as I previously stated, this is not something that can be done on a regular basis when actively trading and there is always a trade-off between security and comfort.

[Coin_trader]

If you are doing this with coins like ETH, you are going to pay a ton of fees each way.  Your exchange is going to charge you a fee and you going to pay a decent fee sending it back the next day.  Now imagine having many other altcoins where the fees are similar.  I can' t imagine people are depositing/withdrawing each day?  The deposit/withdraw fees would eat them up if they do ETH or even if they use a lot of other coins because the exchange is going to charge them a flat fee each time.

I experience being a day trader and the main objective is to convert your holdings in to a stablecoin or fiat at the end of your trading to guarantee your profit since volatility is very high in crypto. By using stablecoins, Some day traders can afford to transfer there holding on hardware wallet such as trezor or ledger nano and just send it back on the other day. Day trader usually leave there assets on exchange/broker so that they can save fee and can buy immediately if the price drops down suddenly but due to the benefits of blockchain, they can already move out there tokens since transaction speed and fee are now fast and affordable on some blockchain that has stablecoins like BSC and Tron.

[Findingnemo]

From my experience they're not moving their funds out of the exchanges everyday and then deposit back into the exchange, yes there is a risk of exchanges can be hacked at any time but day traders can't make any profit if they're not ready to take the risk but day traders mostly don't allocate all their crypto capital for day trading just only a part of it, maximum 30% is what I had in the exchanges while doing day trading but now I am done and not doing it anymore.

The fees where too high to continuously transdferring it from exchange to wallet. I learn to trust an exchange like Binance and just keep it there and when the market seems in bear market I just convert it in the mean in the mean time to usdt. I also learn to take profit when trading and store it in other wallet or convert in cash than keeping and holding coins for longer like I did before, which results to loses so when market is in bear season I will be able to buy some or have savings to not sell my crypto. just don't put too much money in one exchange better always have backup so when some exchange are attacked or in maintenance you will still have something to trade or spend with.

Yeah, what you are doing is right but OP is asking about day traders who trade a lot of trades in a day and ask whether they will trust the exchange or move it to the wallet everyday the straight answer is no, they can't do it everyday and if they are going away from trading then it make sense to move their funds to wallet and OP should not forget that this is 24/7 market so there is no end and the trading will keep on going.

[Ararbermas]

Assuming you trade a lot and are a daytrader and use binance, coinbase and all those exchanges, you need your coins on the exchange to trade.  But when you are done with trading that day, do majority of traders just leave their coins there till the next day?

of course it's necessary to store your balance in USDT to prevent losses from the volatility of the market.

Because it's like you let your money flowing in the market without stop loss if you keep storing your capital to any asset for how many days which so volatile.

Now if you are trading it with USD, then no issue then right since the balance would be USD or a portion of your balance is in USD?

my entire capital is on USDT and yes there's no  problem with it as long as you're using trusted platform, but when i have profits already i used to transfer it to my FUNDING section to sell it through p2p and start again with new balance to trade.

By the way I'm using binance platform because i dont need to pay fees to convert my USDT into fiats.

[hugeblack]

Withdrawal fees are not a problem as many people compare withdrawal fees between platforms and compare prices based on some altcoins or some blockchain.
you can check them using ---> https://withdrawalfees.com/ to find lowest exchange withdrawal fees.
also some blockchain have small withdrawal fees such as BSC but I highly recommending you to stay away from it.

you will find that the withdrawal fees in TRON, and Polygon are the cheapest, and that an altcoin such as Litecoin has cheaper withdrawal fees in general.


Note that: Day trading is often about less than 10% of the total assets allocated for trading.

[palle11]

Leaving your coin in the exchange is pretty better to avoid charges to withdraw to wallet daily and that is why you have to sign up to a trusted exchange. As a trader when you need to make withdraw is when you have profit that you want to take some home to rest in your wallet. But making withdrawal always reduces your profit.

[AicecreaME]

Day traders usually do have a high leve account on the exchanger where they are doing their trade. They just transfer it to another wallet that let them have their own private key, they do it by converting their tokens to Bitcoin or Ethereum since it is supported by most hardware wallets. I use electrum since 2018 if I'm not mistaken, until now electrum is still protecting my funds.

[tbct_mt2]

Not all day traders store their crypto on CEX.

Nowadays, if you trade your tokens daily, you can store them in non custodial wallets such as Metamask, Trust, Safepal, C98, etc. When you want to trade, connect your wallet to DEX and do trade by swapping.

It is different than you trade on centralized exchanges because on CEX, you will have to leave your crypto on their platforms. However, with CEX, you will have different order types to choose and use.

There are pros and cons and there are two approaches as mentioned.

[perfect999]

Leaving your coin in the exchange is pretty better to avoid charges to withdraw to wallet daily and that is why you have to sign up to a trusted exchange. As a trader when you need to make withdraw is when you have profit that you want to take some home to rest in your wallet.

What if the exchange got hacked or it have some issues that they need to freeze the funds of its customers? it's risky to store funds inside the exchange but we can just sacrifice some fee for the safety of our coins and also for our peace of mind. You cant focus on your trades or you can't sleep at night when you know that there is something bad that can happen to your coins anytime.

There are now coins that are cheaper in fees so why not use them? If your trading with heavier coins, you can just trade them to a cheaper coin once your done with your trades. Stable coins are stable and can help a trader but if you didn't withdraw your stable coins outside the exchange, it is still the same.

[palle11]

Leaving your coin in the exchange is pretty better to avoid charges to withdraw to wallet daily and that is why you have to sign up to a trusted exchange. As a trader when you need to make withdraw is when you have profit that you want to take some home to rest in your wallet.

What if the exchange got hacked or it have some issues that they need to freeze the funds of its customers? it's risky to store funds inside the exchange but we can just sacrifice some fee for the safety of our coins and also for our peace of mind. You cant focus on your trades or you can't sleep at night when you know that there is something bad that can happen to your coins anytime.

There are now coins that are cheaper in fees so why not use them? If your trading with heavier coins, you can just trade them to a cheaper coin once your done with your trades. Stable coins are stable and can help a trader but if you didn't withdraw your stable coins outside the exchange, it is still the same.

About hacking of exchange, it is wiser to trade in reputable exchange that is difficult to get hacked. But I think another choice to fee reduction in daily withdrawal back to wallet is to use stable coins. With stable coins you are keeping your coins safe from fluctuations of the market just like you gave example of stable coin but to withdrawal a coin daily won't be profitable what of if profit was not made after the daily trade.

[retreat]

I have assets for trading that are stored on the exchange, saving them to my personal wallet imo will only cost me money to pay fees. but before entrusting my assets to the exchange (currently FTX) I first traced the track record of FTX and after I was sure the exchange was safe then I did not hesitate to store my crypto assets in it.

[hyudien]

Of course, they will keep it on the exchange if it is a daytrader. Because tomorrow will be back to trade. If a daytrader trades today and keeps it in a cold wallet then will trade the next day he has to send it to an exchange? just for reasons of asset security? If you really are a daytrader, I'm sure saving on the stock exchange has become an option rather than the second option. Just so you know day traders know what they have to do if they want to trade tomorrow. He will not complicate and spend shipping costs unless he will withdraw the results of his trades every day, then the capital for tomorrow remains on the exchange, while the profits are withdrawn.

[AmoreJaz]

As a Binance day trader my portfolio is always in USDT  stored in my custodian wallet, the OP is very much concerned with risk of hodling all our coin in a CEX, personally I transact some of my profits in USDT right from Binance P2P thus instead of transferring the profits to my online wallet, if I needed some USDT I still follow the same process of P2P, though it is not advisable to hodl all our coins in an CEX which are always prone to hackers, however I believe Binance is well secured and safe based my own opinion.

a lot of traders have the confidence on binance because they have insurance in the form of SAFU, and this year,   SAFU is valued at $1BN as of january this year . so for me, that's one thing why binance traders are pretty confident with their funds on this exchange. if you are an active trader, it is really not practical to move your funds especially if it is ETH or ETH token you are dealing with.
but if you will not trade for quite a while, better transfer it to a noncustodial wallet. just for security purposes.

[Issa56]

Am a day trader, after selling my coin I always leave it in usdt in the exchange, I believe their is no need sending the coin to my non custodial wallet address because I will be needing it the following day, I know my fund is not really safe in an exhange wallet address but I just have to leave it their to avoid stress and unnecessary gas fee, but whenever am holding a coin for a long term immediately after buying a coin from exchange I always make sure I transfer the coin to my non costodial wallet address because I believe my funds are safe their and whenever u want to sell I transfer d coin back to the exchange.

[Captain Corporate]

 I do agree that there is absolutely no need to keep depositing and withdrawing all the time if you are a day trader. I get that it may not be great for the long term survival of your coins, so if you have excess amount that you do not feel like you will use, then you can withdraw them to a wallet that you feel safe and then keep it there. However, I also do not understand why a day trader whose entire time is spent on an exchange should withdraw money at the end of the day all the time. If anything happens, it could happen during your trading hours as well and you will lose that money anyway. So pick a place to day trade that you trust to begin with.

[DoublerHunter]

Am a day trader, after selling my coin I always leave it in usdt in the exchange, I believe their is no need sending the coin to my non custodial wallet address because I will be needing it the following day, I know my fund is not really safe in an exhange wallet address but I just have to leave it their to avoid stress and unnecessary gas fee, but whenever am holding a coin for a long term immediately after buying a coin from exchange I always make sure I transfer the coin to my non costodial wallet address because I believe my funds are safe their and whenever u want to sell I transfer d coin back to the exchange.

^ This is why from the start, picking a good and reputable exchange is a must because you need to leave your money on the exchange where you can entrust your money. But doing it in a long term is not a good idea, I mean probably it could be months but after you actively do trading, you must withdraw it and not let your money sleep on the exchange wallet. Becaue we never know what will happen next if we store our assets on the exchange wallet, from time to time they are vulnerable to hack and it is also good if the exchange has a secure fund like Binance have SAFU.

[Rengga Jati]

Assuming you trade a lot and are a daytrader and use binance, coinbase and all those exchanges, you need your coins on the exchange to trade.  But when you are done with trading that day, do majority of traders just leave their coins there till the next day?  Now if you are trading it with USD, then no issue then right since the balance would be USD or a portion of your balance is in USD?

It may depend on how the trader itself.
But commonly, they will make it in stable coins in order to ease their day trading activities. It will be also more stable if we are saving the assets in stable coins if we are for day trading. Stable coins are not only USDT but others that may be available in the exchanges. We can choose one of them as our best choice. ANd if we let them in the wallet before converting to the bank or even convertig to other assets for long term investment, Ithink that stable coin really makes sense to be used.

If you are doing this with coins like ETH, you are going to pay a ton of fees each way.  Your exchange is going to charge you a fee and you going to pay a decent fee sending it back the next day.  Now imagine having many other altcoins where the fees are similar.  I can' t imagine people are depositing/withdrawing each day?

We will only be charged a fee if we make transactions, both buying and selling or withdrawing. So if we just leave it in the form of ETH, it won't be charged. It's just that the movement of the ETH value may continue to change. So sometimes the assets in the wallet will easily go up and down

[Mahanton]

Leaving your coin in the exchange is pretty better to avoid charges to withdraw to wallet daily and that is why you have to sign up to a trusted exchange. As a trader when you need to make withdraw is when you have profit that you want to take some home to rest in your wallet.

What if the exchange got hacked or it have some issues that they need to freeze the funds of its customers? it's risky to store funds inside the exchange but we can just sacrifice some fee for the safety of our coins and also for our peace of mind. You cant focus on your trades or you can't sleep at night when you know that there is something bad that can happen to your coins anytime.

There are now coins that are cheaper in fees so why not use them? If your trading with heavier coins, you can just trade them to a cheaper coin once your done with your trades. Stable coins are stable and can help a trader but if you didn't withdraw your stable coins outside the exchange, it is still the same.

About hacking of exchange, it is wiser to trade in reputable exchange that is difficult to get hacked. But I think another choice to fee reduction in daily withdrawal back to wallet is to use stable coins. With stable coins you are keeping your coins safe from fluctuations of the market just like you gave example of stable coin but to withdrawal a coin daily won't be profitable what of if profit was not made after the daily trade.

Nothing is unhackable  on this world but it is a good behavior that you should really be choosing the best exchange that we do have in the market on which you could be somewhat that confident on using them.
It is really just unavoidable for someone to make use of those platforms as their wallets because we do usually store up our coins on waiting up for some buying or selling opporunity which i couldnt
really blame off someone who do really have that kind of behavior on storing their coins with centralized platforms which is something unavoidable because of the situation.

[Eureka_07]

<snip>

Since those traders are day-trading, it is definite that they would just leave those funds on the exchanges where they are trading. It is kind of a hassle and waste of withdrawal fee if they send it to another wallet everyday. Most probably they will just move it if they need to use the money for any reason. There are advices that tells us not to store money on exchanges, but in this case, these people always use it for day-trading, so it is fine.

<snip>
Nothing is unhackable  on this world but it is a good behavior that you should really be choosing the best exchange that we do have in the market on which you could be somewhat that confident on using them.
<snip>

I agree, I don't think of any big crypto exchanges that has no history of being hacked.

[Zilon]

Swap fee is only applicable to trades that are left for more than a day but once a trade isn't open there will be no need for the swap fee. And it is more easier leaving those coins on the exchange so as to trade the next day because moving the funds between wallets will result in paying for gas fees as well

[Peanutswar]

Most traders stored their assets to the trading platform they are using because they are an active traders with a day trade they must not miss out a day to make a profit. It depends if they will going to take profit or stop loss for sure they are separating their assets depends on the purpose sometimes success trade win rate is ideal too. Traders create different accounts for the holding trade, futures trade and storing their earned assets still the ideal use is to store your assets to a platform that you have full control.

[jrrsparkles]

Just in the exchange itself because they can't afford to pay withdrawal fee everyday because it cost around $25 even on the cheapest trading fee exchange so imagine how much it will be for a month $750, that's not small amount though. But yes there is risk of losing our cryptocurrency completely if the exchange got hacked but it is not going to happen everyday and choose the exchanges wisely.

[noorman0]

Who knows if a trader uses all or only part of his crypto portfolio to trade daily on a centralized exchange? If they wish they can withdraw assets daily to external wallets due to higher profit calculations. Or also they don't move anything from the exchange because they only use a small part of the portfolio that they can tolerate to lose.

This question requires a survey of several daytraders, each with a different portfolio.

And how safe is it now to store on an electronic wallet?

It depends on the electronic device you are using.  You have to be more specific what kind of electronic wallet and electronic money you mean.

[danherbias07]

You are right. If you are done with it, withdraw it. If you are going for a vacation, withdraw it. There's no telling when an exchange will just shut down, be hacked, or whatever internal reason they make that is almost unbelievable sometimes.
Save yourself the trouble of being stressed out thinking about it especially if you are on a vacation with someone special to you.
How could you enjoy that if you are being paranoid with the funds left in an exchange? Not your keys, big problem in the future. 

[taufik123]

You are right. If you are done with it, withdraw it. If you are going for a vacation, withdraw it. There's no telling when an exchange will just shut down, be hacked, or whatever internal reason they make that is almost unbelievable sometimes.
Save yourself the trouble of being stressed out thinking about it especially if you are on a vacation with someone special to you.
How could you enjoy that if you are being paranoid with the funds left in an exchange? Not your keys, big problem in the future. 

Being paranoid is no fun and always getting nervous when some assets are still on the exchange. Binance has never been hacked, especially with other exchanges. But the security of the exchange is currently being improved, for some assets that do not have a large value, I might just leave it on the exchange, because it is constrained by fees which will certainly reduce assets. If it is USDT then I will withdraw it. There is no place to save if we are too paranoid and not so alert.

[crzy]

And how safe is it now to store on an electronic wallet?

Its not 100% safe since you don’t have the control over your wallet so better to choose an e-wallet with a good trust rating, at least if they are a reputable site the risk can be lessen. Day trader usually store their holdings in exchanges so they can trade faster and just withdraw it if they want to secure their profit on their hard wallet.

[Pasa32]

Day traders hold their balance in exchanges, so they can take fast trade on any market action. If they need to withdraw they just get a withdrawal from an exchange. Exchanges are also safe  some exchanges have bad security system so they get hacked, Sometimes trust wallet also gets hacked, so be smart and safe.

[beerlover]

Who knows if a trader uses all or only part of his crypto portfolio to trade daily on a centralized exchange? If they wish they can withdraw assets daily to external wallets due to higher profit calculations. Or also they don't move anything from the exchange because they only use a small part of the portfolio that they can tolerate to lose.

This question requires a survey of several daytraders, each with a different portfolio.

Unless you are at the very start of your trading, you never trade with 100% of your bankroll. No good trader does that, you store most of your money in something like ledger so that you could keep it safe.

Let's assume you have 100k, you would not be trading with 100k anyway, that is too risky and there is no need for that, you would trade with at most 3-5k and then you could store the rest in a secure location. Then you would be trading with that amount and when that amount reaches to like 10+ thousand, then you remove some of it and go back to 5k again. That’s how all the rich traders I know have done it so far in the past 5 years. If you have a thousand dollars and want to trade, then of course you may end up with depositing it all.

[clarkt]

It is possible to trade directly with your non-custodian wallet with some exchange like coinbase. And if you trade on dex, you will also be in charge of your coin. But to trade on centralized exchange, you will have to trust that exchange! When you keep your coin on centralized exchange for days or one or two weeks, you shouldn't have to worry about hack if those exchange have track record of safety of customers funds!

[TimeTeller]

It is possible to trade directly with your non-custodian wallet with some exchange like coinbase. And if you trade on dex, you will also be in charge of your coin. But to trade on centralized exchange, you will have to trust that exchange! When you keep your coin on centralized exchange for days or one or two weeks, you shouldn't have to worry about hack if those exchange have track record of safety of customers funds!

I think most day traders store or leave their coins in the exchange itself.
Because getting out will incur fees, so if you are active trader, it is not practical to get in and out your funds frequently.
However, if you are storing it to the exchange, it is better to choose the exchange which has very good reputation.
And at least your funds are protected just like in Binance, which has insurance for its users.
Coinbase has also this FDIC-insurance up to $250k if you are keeping cash with them.

https://blog.coinbase.com/on-insurance-and-cryptocurrency-d6db86ba40bd

[Luqman]

Exactly this will be in the exchange wallet. For, if we are storing the coins in the hardware wallet, we may need to spend a lot of money to pay for some fees.
However, if this is about the profits or results of day trading itself, it may depend on who you are.
Sometimes, traders will prefer to cash out the profits into a bank account
Sometimes, traders will convert to Bitcoin or Ethereum and store the profits in their hardware wallet.
Or sometimes, some traders will use the profits to make another day trading capital

[GreatArkansas]

(......)
Obviously keeping your coins in an exchange is not as safe as a hardware wallet, but what do daytraders do?  If I daytrade, I would just keep my coins in the exchange until I need to withdraw or if I know I won't be trading for a while.  
(....)

I believe that there already a lot of traders (day traders or non-day traders) are starting to use Decentralized Exchange (DEX) if you are not yet familiar with it, it is the opposite of Centralized Exchange (CEX) where most of DEX is non-custodial where you have your own crypto wallet and every transaction must confirm from your own wallet compare to Centralized Exchanges which is custodial, they are the one who holds your funds.

[Rehan Zakir]

They have lot of choices where they stores their crypto coins such as hardware wallets or software wallets. If have want to earn money with crypto coins by day trading then they can store their crypto coins on a exchange. SO, that they can trade can earn profit from it. But if they want to store crypto coins as a  long term investment then the best choice is hardware wallet. 
Best exchange for storing crypto coins is FTX, kucoin, coinbase, huobi.

[Benefactor]

This is one of the issues you would have in the event that you really do allow yourself to be too neurotic with regards to coin security on which you would think on effectively pulling off your assets on a brought together stage. They will possibly pull out their cash assuming that they have accomplished the objective benefit from exchanging heaps of coins or tokens since they have additionally pondered the amount they will pay.

[SirLancelot]

Obviously keeping your coins in an exchange is not as safe as a hardware wallet, but what do daytraders do?  If I daytrade, I would just keep my coins in the exchange until I need to withdraw or if I know I won't be trading for a while.

Day traders must need to trust their platforms for their funds; no exceptions. By considering the hassles involved with daily withdrawing/depositing, I guess all active traders will prefer about holding their funds within exchanges.

Here are the points that you need to consider which justify their decision of holding funds in exchanges:

1. Day traders are not whales which means for your small capital you may risk with your exchange.
2. There are long running-tested-reputed exchanges are available to use as wallets.
3. BTC lighting network is not available in most reputed exchanges.
4. Even some altcoins facilities quick TX, traders may not prefer to keep their capital on altcoins.
5. Active traders may prefer to go for withdrawing once in a while; otherwise it would burden them along with their TA and watching and following market movements.

[TimeTeller]

Obviously keeping your coins in an exchange is not as safe as a hardware wallet, but what do daytraders do?  If I daytrade, I would just keep my coins in the exchange until I need to withdraw or if I know I won't be trading for a while.

Day traders must need to trust their platforms for their funds; no exceptions. By considering the hassles involved with daily withdrawing/depositing, I guess all active traders will prefer about holding their funds within exchanges.

Here are the points that you need to consider which justify their decision of holding funds in exchanges:

1. Day traders are not whales which means for your small capital you may risk with your exchange.
2. There are long running-tested-reputed exchanges are available to use as wallets.
3. BTC lighting network is not available in most reputed exchanges.
4. Even some altcoins facilities quick TX, traders may not prefer to keep their capital on altcoins.
5. Active traders may prefer to go for withdrawing once in a while; otherwise it would burden them along with their TA and watching and following market movements.

I believe most day traders here are using binance exchange.
I, myself, is also somewhat confident when leaving funds on their exchange for quite a while.
Like when you are using their earning features such as fixed and flexible savings.
I have more trust on them when it comes to this type of investment.
Just what I posted earlier in this thread, the security is maybe due to the insurance in place in this exchange.

[bhooscream]

I just store it on the exchange I’m using since I can’t do day trading if my tokens are not on the exchange.

It is the same with me. I also often trade in CEX (Centralized Exchange), so I just put my coins or tokens on the exchange wallets. I think we don't need to worry about our coins or tokens there as long as we choose reputable exchanges. I don't want to send my tokens to private wallets, and then send them again when I want to trade. This will take too many transaction fees, so I avoid this. Top exchanges such as Binance, Kucoin, Gate, or Huobi, are secure enough as a place to keep our coins and tokens.

[TelolettOm]

I am sure that a day trader will store their capitals on the exchanges f they are still using them for trading daily.
But if this is related to the profits and also the coins that will be saved for the long term, not for daily trading again, they may prefer to use hardware wallets. That is why many daily professional traders will commonly have hardware wallets to secure some of their money.
Some coins may be the options, but this will depend on each person to choose stable coins, BTC, ETH, or other altcoins to store. ABoutt he fees? Of corue this will be one of the consideration when going to store their assets.

[logfiles]

When day trading at times. I leave some money in an exchange (Not advisable) but yeah I do for 3 reasons

1. I may have open positions that can't be closed until I realize profits. So one can not simply close positions just because they want to withdraw the money and keep it off an exchange during the hours they are not on computers

2. Open positions may require additional margin to keep the liquidation price for cross margin positions at bay. Again, the funds have to be nearby in the derivatives wallet
3. High withdrawal fees. Imagine doing this every day. That's some profit gone to withdrawal fees.

I keep most of my money in an offline wallet. Only the amount I use for trading remains in an exchange.

[Dave1]

I will reckon that majority of them will have some kind of capital kept in an exchange for obvious reasons that they will continue to do trades.

This is no different for a gambler like me who bet on different sports, most of the time I will have my bitcoins on trusted gambling platform, and if I won I will withdraw it in a wallet that I have total control of. But there are times that I will withdraw everything and just go and deposit in the following days if I wanted to play. So I guess this is the same with traders.

[fuguebtc]

I just store it on the exchange I’m using since I can’t do day trading if my tokens are not on the exchange.

It is the same with me. I also often trade in CEX (Centralized Exchange), so I just put my coins or tokens on the exchange wallets. I think we don't need to worry about our coins or tokens there as long as we choose reputable exchanges. I don't want to send my tokens to private wallets, and then send them again when I want to trade. This will take too many transaction fees, so I avoid this. Top exchanges such as Binance, Kucoin, Gate, or Huobi, are secure enough as a place to keep our coins and tokens.

Its true that there is a risk if we store our tokens on centralized exchanges as we do not actually hold the private key. But I think most day traders will leave their cryptocurrencies on the exchange instead of having to withdraw them to personal wallets, this will affect the trading orders we are executing.
Therefore, choosing an exchange is very important. Binance is the choice of most traders as it is the largest exchange today.
I'm also storing some of my tokens on Binance, I'm pretty safe leaving my coins on Binance and I haven't had any problems.

[bhooscream]

Its true that there is a risk if we store our tokens on centralized exchanges as we do not actually hold the private key.

Of course, storing our tokens on an exchange has a risk but that doesn't mean storing tokens on a private wallet has no risks. We can forget the password or private key of our own wallet and sometimes it will be difficult to recover the wallet once we lose the data. While on the exchange, we may get a help from the exchange service center if we have a problem with our data or tokens.

But I think most day traders will leave their cryptocurrencies on the exchange instead of having to withdraw them to personal wallets,

Yes. Putting tokens or coins on an exchange wallet will make it easier to sell them once there is a pump. While if we put on personal wallets, it needs some time to send them and it requires transaction fees as well.

[smartaction]

Why you should withdraw your fund everyday after complete trading Daily. If you use binance, FTX, kucoin or another exchanger like these then you can store your fund on that exchanger without any worried. And store stablecoin USDT or BUSD for next day. or if you want to withdraw your profit everyday as stablecoin then you can withdraw usdt in BSC chain it will charge $0.8 or if you want to withdraw nonstable coin then use TRX, LTC

[livingfree]

Why you should withdraw your fund everyday after complete trading Daily. If you use binance, FTX, kucoin or another exchanger like these then you can store your fund on that exchanger without any worried. And store stablecoin USDT or BUSD for next day. or if you want to withdraw your profit everyday as stablecoin then you can withdraw usdt in BSC chain it will charge $0.8 or if you want to withdraw nonstable coin then use TRX, LTC

I'll take the suggestion of withdrawing every single time I've made a profit and I want to keep it and just continue and leave a fund to keep going for tomorrow's trade.

You need to make yourself a favor of keeping some profits that you've made and take out the capital as much as you want and just continue until you get into the moment that you're going to trade with the profit that you've made while securing the capital.

If the withdrawal fees ain't that much, it's not going to be a problem if you withdraw most of the time.

[Botnake]

For day traders, they are more comfortable putting their bitcoin in exchanges because they open up orders that are waiting to be fufilled. That's why it's very important that we have a lot of reputable exchange in the space so they can minimize the risk by spreading the trade in different exchanges.

By the way, if you still remember, Binance has SAFU, so your funds are safe as long as it's covered to the insurance. (not sure about the complete terms)

That's all I know because I'm not a day trader personally, but I'd love to know if this idea are already outdated and we have a more safer and advance way to trade comfortably while not sacrificing safety.

[maydna]

As a trader, I keep my coins in my wallet and on exchanges because it makes it easier for me to continue trading the next day or a few days later. But if on that day I get a decent profit, I will withdraw the profit to my wallet and keep it there. I don't have a lot of coins on the exchange because I know that it has risks, so I'd better keep it in my wallet. Saving on an exchange has its advantages and disadvantages, but if we can choose a place of exchange that can maintain the trader's funds properly, at least it can minimize the bad risks. So it's up to the individual traders as they must have their own calculations to keep some of their coins on the exchange and in their wallets.

[Silberman]

Assuming you trade a lot and are a daytrader and use binance, coinbase and all those exchanges, you need your coins on the exchange to trade.  But when you are done with trading that day, do majority of traders just leave their coins there till the next day?  Now if you are trading it with USD, then no issue then right since the balance would be USD or a portion of your balance is in USD?

That is basically what day traders do, a positional trader can afford to send their coins to the exchange, exchange their coins and then get them out as fast as possible to lower the risk of being hacked while his coins are on the exchange to the minimum, but the same is not true for daytraders, their profits are on the small side and those kind of fees are really important for them, so having to pay for their coins to go out of the exchange at the end of the day is simply not an option for them.

[Flexystar]

I think being trader you need fast access to your coins and thus you can not have them stored on the wallets. True. But, keeping the tradable amount on the exchanger is completely fine in case of day trading. There is always good security these days for the crypto exchanges considering you choose the reputed one. Note that they are so secure as you can also choose to stake it funds on them. I think to be able to day trade you have to risk some assets which are available in the exchanger all the time no matter what. Because market is way volatile and you can not loose time and transfer fees in the process.

[usekevin]

Assuming you trade a lot and are a daytrader and use binance, coinbase and all those exchanges, you need your coins on the exchange to trade.  But when you are done with trading that day, do majority of traders just leave their coins there till the next day?  Now if you are trading it with USD, then no issue then right since the balance would be USD or a portion of your balance is in USD?


If you are doing this with coins like ETH, you are going to pay a ton of fees each way.  Your exchange is going to charge you a fee and you going to pay a decent fee sending it back the next day.  Now imagine having many other altcoins where the fees are similar.  I can' t imagine people are depositing/withdrawing each day?  The deposit/withdraw fees would eat them up if they do ETH or even if they use a lot of other coins because the exchange is going to charge them a flat fee each time.


Obviously keeping your coins in an exchange is not as safe as a hardware wallet, but what do daytraders do?  If I daytrade, I would just keep my coins in the exchange until I need to withdraw or if I know I won't be trading for a while.  The other thing is some coins they want to trade, it is possible they can't store it in their hardware wallet because that coin is not supported.  So because of that, no other option than to store it on the exchange?  Or they use something like metamask?  But still they have to pay fees depositing/withdrawing right?

Not for the assumption really, the day traders was on the exchanges like binance, coinbase, FTX pro. Day trading is the short term trading, it maybe for a day. Or two days one with in a week. The will buy at certain price and sell with the short period with the minimum profit.They will repeated the trading again and again. When they get little in all trade. At the period of one month, the net profit for one month will be huge.

[Fatunad]

Assuming you trade a lot and are a daytrader and use binance, coinbase and all those exchanges, you need your coins on the exchange to trade.  But when you are done with trading that day, do majority of traders just leave their coins there till the next day?  Now if you are trading it with USD, then no issue then right since the balance would be USD or a portion of your balance is in USD?


If you are doing this with coins like ETH, you are going to pay a ton of fees each way.  Your exchange is going to charge you a fee and you going to pay a decent fee sending it back the next day.  Now imagine having many other altcoins where the fees are similar.  I can' t imagine people are depositing/withdrawing each day?  The deposit/withdraw fees would eat them up if they do ETH or even if they use a lot of other coins because the exchange is going to charge them a flat fee each time.


Obviously keeping your coins in an exchange is not as safe as a hardware wallet, but what do daytraders do?  If I daytrade, I would just keep my coins in the exchange until I need to withdraw or if I know I won't be trading for a while.  The other thing is some coins they want to trade, it is possible they can't store it in their hardware wallet because that coin is not supported.  So because of that, no other option than to store it on the exchange?  Or they use something like metamask?  But still they have to pay fees depositing/withdrawing right?

Not for the assumption really, the day traders was on the exchanges like binance, coinbase, FTX pro. Day trading is the short term trading, it maybe for a day. Or two days one with in a week. The will buy at certain price and sell with the short period with the minimum profit.

Scalpers or day traders would definitely be storing up their funds on exchange platforms most of the times considering on the behavior on how they do deal up with the market which
do talks about active trading then they would be definitely be putting up their capital or funds for fast executions of buys when there's a dip or would sell out immediately if theres
a pump because if we do mind off about pulling those funds actively then you would be surely spending out some fees and hassle on time of confirmation which would
only make out some delays which it is something that they dont like.

[darewaller]

As a trader, I keep my coins in my wallet and on exchanges because it makes it easier for me to continue trading the next day or a few days later. But if on that day I get a decent profit, I will withdraw the profit to my wallet and keep it there. I don't have a lot of coins on the exchange because I know that it has risks, so I'd better keep it in my wallet. Saving on an exchange has its advantages and disadvantages, but if we can choose a place of exchange that can maintain the trader's funds properly, at least it can minimize the bad risks. So it's up to the individual traders as they must have their own calculations to keep some of their coins on the exchange and in their wallets.

There are so many people who keep saying "not your keys, not your coins" and they do not realize that if I kept on depositing and withdrawing money in and out of my exchange account, that would be both a huge time loss and also money lost as well depending on the coin. I mean I just use exchanges for the trading amount, just like you whatever else I have (long term) stays with my wallet and I am securing them that way.

However, I have some coins in exchanges that I keep on trading, or hold bags that I want to get rid of so I have sell orders, but that's just about it, I can't take them out at all because it would be useless to do so and this is easier.

[maydna]

~snip~

There are so many people who keep saying "not your keys, not your coins" and they do not realize that if I kept on depositing and withdrawing money in and out of my exchange account, that would be both a huge time loss and also money lost as well depending on the coin. I mean I just use exchanges for the trading amount, just like you whatever else I have (long term) stays with my wallet and I am securing them that way.

However, I have some coins in exchanges that I keep on trading, or hold bags that I want to get rid of so I have sell orders, but that's just about it, I can't take them out at all because it would be useless to do so and this is easier.

That is the fact that a trader should know. We don't want to experience the wait times that often happen to a coin or two, especially if the network is busy. So it is normal to keep any number of coins in any amount in the exchange because it will give us time efficiency to trade.

When we get a big profit, that's what we withdraw to another wallet, and we keep it for a while. Or we can also sell the profit in bitcoin to fiat, and then we withdraw it to our bank.

But it will be different if they use Decentralized Exchange where they just connect their wallet to the exchange and can trade right away. If they finish trading on that day, they simply disconnect from the Decentralized Exchange so that no coins are left on the exchange.

[henmark]

Of course, storing our tokens on an exchange has a risk but that doesn't mean storing tokens on a private wallet has no risks. We can forget the password or private key of our own wallet and sometimes it will be difficult to recover the wallet once we lose the data. While on the exchange, we may get a help from the exchange service center if we have a problem with our data or tokens.

Well, the difference between the both of them is that when it comes to making use of a decentralized or non-custodial wallet you are the one who is in charge of the safety of your cryptocurrency wallet. In this case you should be aware of the risk that is involved in making use of a decentralized wallet and you should also be aware of how to handle such risk and know what to do and be very careful with your wallet and the kind of information that you put out that might put you at risk of losing your money.

You should also be very careful with how you store your private keys which is like the main thing about your wallet because if a hacker gains access to it, you lose the money.

But in the case of centralized exchanges or wallets, you are not in control of anything and if the exchange gets hacked you may lose your money. But even at that it is also good to make use of a really good exchange and know what practices they put in place to make sure that their users assets are hundred percent secure.

[awik p]

As a trader, I keep my coins in my wallet and on exchanges because it makes it easier for me to continue trading the next day or a few days later. But if on that day I get a decent profit, I will withdraw the profit to my wallet and keep it there. I don't have a lot of coins on the exchange because I know that it has risks, so I'd better keep it in my wallet. Saving on an exchange has its advantages and disadvantages, but if we can choose a place of exchange that can maintain the trader's funds properly, at least it can minimize the bad risks. So it's up to the individual traders as they must have their own calculations to keep some of their coins on the exchange and in their wallets.

There are so many people who keep saying "not your keys, not your coins" and they do not realize that if I kept on depositing and withdrawing money in and out of my exchange account, that would be both a huge time loss and also money lost as well depending on the coin. I mean I just use exchanges for the trading amount, just like you whatever else I have (long term) stays with my wallet and I am securing them that way.

However, I have some coins in exchanges that I keep on trading, or hold bags that I want to get rid of so I have sell orders, but that's just about it, I can't take them out at all because it would be useless to do so and this is easier.

indeed it is better to put coins on the exchange only as needed, even then in my opinion it is better for short-term trading. For investment, I think it's better to keep it in a personal wallet, so that all security is our own responsibility. especially if we save on an exchange that is less reliable in the long term, then this is a big risk. when we transfer our results back and forth from trading, the risk is only a gas fee that must be paid, but even then it is not big if we use a network other than the eth network

[Quidat]

As a trader, I keep my coins in my wallet and on exchanges because it makes it easier for me to continue trading the next day or a few days later. But if on that day I get a decent profit, I will withdraw the profit to my wallet and keep it there. I don't have a lot of coins on the exchange because I know that it has risks, so I'd better keep it in my wallet. Saving on an exchange has its advantages and disadvantages, but if we can choose a place of exchange that can maintain the trader's funds properly, at least it can minimize the bad risks. So it's up to the individual traders as they must have their own calculations to keep some of their coins on the exchange and in their wallets.

There are so many people who keep saying "not your keys, not your coins" and they do not realize that if I kept on depositing and withdrawing money in and out of my exchange account, that would be both a huge time loss and also money lost as well depending on the coin. I mean I just use exchanges for the trading amount, just like you whatever else I have (long term) stays with my wallet and I am securing them that way.

However, I have some coins in exchanges that I keep on trading, or hold bags that I want to get rid of so I have sell orders, but that's just about it, I can't take them out at all because it would be useless to do so and this is easier.

indeed it is better to put coins on the exchange only as needed, even then in my opinion it is better for short-term trading. For investment, I think it's better to keep it in a personal wallet, so that all security is our own responsibility. especially if we save on an exchange that is less reliable in the long term, then this is a big risk. when we transfer our results back and forth from trading, the risk is only a gas fee that must be paid, but even then it is not big if we use a network other than the eth network

Putting only the amounts which is sufficient for you to use and dont tend to put all of your assets or coins on an exchange since we know that hacking incident could really happen
anytime which means that you would really be having a big problem on losing money if ever that happens.Always consider or mind off about possibilities and dont really get that
too confident on trusting up the platforms even though they are popular or on top ones but cant still able to remove about those probabilities.

[fullhdpixel]

Of course, storing our tokens on an exchange has a risk but that doesn't mean storing tokens on a private wallet has no risks. We can forget the password or private key of our own wallet and sometimes it will be difficult to recover the wallet once we lose the data. While on the exchange, we may get a help from the exchange service center if we have a problem with our data or tokens.

The decision that you have made to take some time and learn how cryptocurrency trading works is really important and it is going to be very helpful to you in the future when you start your trading full time. Is very important for most newbies who get into cryptocurrency trading to first of all get to learn how cryptocurrency works and what cryptocurrencies are all about. But, most of them don’t do that.

Even I myself when I started trading I noticed that it was really difficult for me and I wasn’t making much progress based on the knowledge I’ve had so far as of then. so I had to go for training and to acquire more knowledge so that I would be better than what I am as of then.

[wozzek23]

That is the issue and the most traders have to go through this same thoughts every time and at the end they feel that it is usually best for them to just store their cryptocurrencies on the exchange that they are making use of, maybe Binance.com. and coinbase.com, instead of having to keep withdrawing and depositing it all the time that they want to trade on the platform which will result in having to pay a lot of fees.

But, by having their cryptocurrency stored on the exchange they can easily get to trading without much hassle. Although sometimes you can as well just divide the money and not put all of them on the exchange except the ones that you are trading with. That way you can at least minimize the risk.

[Anguwa]

Actually, as a day trader, I believe it is extremely risky to withdraw from the exchange where I trade every day. Instead, I always convert my coins to a stable coin, such as USDT or BUSD, to ensure that I will not lose money before moving on to the next coin to trade.
Although exchanges are not completely safe, there are some that come highly recommended and are worth trying.
I trade on the KuCoin and Binance exchanges because I believe they are secure.

[Renampun]

...

most traders see the situation and conditions of the exchange and also personal...

if an trader has a large capital (more than $10k) then saving on the exchange will be very risky, most of them must save in a personal wallet or hardware wallet because withdrawal fees are definitely not a big problem for him but those who have small capital (under $2k ) making withdrawals is useless, it's better to keep it on the exchange (but have to pay attention to the reputation of the exchange) while I personally prefer to only save on the exchange because I have small capital and the withdrawal fee is really a problem for me lol.

[lombok]

From my point of view I also do day trading. My trading base is USDT, whenever I make a profit, I don't immediately withdraw funds or spend them on altcoins. I will wait until the profit reaches 1 week, for example in one week I make a profit of $200, then I will use it, $50 to buy BTC, $40 to buy ETH, $40 to buy BNB, $40 I will put into my trading balance so that the trading balance I increase and the rest I will withdraw as savings or shopping for daily needs. The coins I buy will be stored in my hardware wallet or mobile wallet. If the fee is low, I will send it directly on the day, especially for ETH I will wait until my ETH balance increases, while I still keep it in the exchange wallet.

But for each person will be different needs. I'm just a small trader who doesn't reach tens of thousands of dollars, but big-time traders whose funds reach hundreds to millions of dollars may have their own strategies in overcoming the problem of transfer fees. Sometimes they don't care, because the benefits they get are also great.

[TheGreatPython]

As a trader, I keep my coins in my wallet and on exchanges because it makes it easier for me to continue trading the next day or a few days later. But if on that day I get a decent profit, I will withdraw the profit to my wallet and keep it there. I don't have a lot of coins on the exchange because I know that it has risks, so I'd better keep it in my wallet. Saving on an exchange has its advantages and disadvantages, but if we can choose a place of exchange that can maintain the trader's funds properly, at least it can minimize the bad risks. So it's up to the individual traders as they must have their own calculations to keep some of their coins on the exchange and in their wallets.

What advantages it brings when you save crypto on the exchange? Saving is not the same as storing but in saving it means we put our crypto there for a long time. I did not hear any exchange that gives you interest by doing that but except on the lending platforms because you are letting them to borrow the coins sitting in your account. On banks they can give you a little interest too but there are drawbacks because a bank can also charge you a fee for using their service.

Storing crypto on the exchange has an advantage because you can trade immediately, it can save you a time, effort and fees because you don't need to access your wallet and make a transfer.

[Webetcoins]

the difference between the both of them is that when it comes to making use of a decentralized or non-custodial wallet you are the one who is in charge of the safety of your cryptocurrency wallet. In this case you should be aware of the risk that is involved in making use of a decentralized wallet and you should also be aware of how to handle such risk and know what to do and be very careful with your wallet and the kind of information that you put out that might put you at risk of losing your money.

You should also be very careful with how you store your private keys which is like the main thing about your wallet because if a hacker gains access to it, you lose the money.

But in the case of centralized exchanges or wallets, you are not in control of anything and if the exchange gets hacked you may lose your money. But even at that it is also good to make use of a really good exchange and know what practices they put in place to make sure that their users assets are hundred percent secure.

At certain point you have to ask yourself. Do you trust Binance with your money more than you trust yourself? Reality is that since these are centralized places, they are getting constant hacking attempts and they either defend it well, and even if they can't, usually it is the hot wallet that gets emptied and nothing else.

On the other hand, we are talking about your personal computer, or ledger, or metamask or whatever you believe and it could be a lot worse. I once had a software that changed the addresses to owners address and even though I did not lose any money because I double check, I knew something was wrong quickly and got rid of it, but not everyone can. So do you really trust yourself more than you trust Binance? That’s an important question.

[Silberman]

I think being trader you need fast access to your coins and thus you can not have them stored on the wallets. True. But, keeping the tradable amount on the exchanger is completely fine in case of day trading. There is always good security these days for the crypto exchanges considering you choose the reputed one. Note that they are so secure as you can also choose to stake it funds on them. I think to be able to day trade you have to risk some assets which are available in the exchanger all the time no matter what. Because market is way volatile and you can not loose time and transfer fees in the process.

Daytraders do not have too much of a choice, when they have a window of a few seconds to make their trades then they cannot hope to make their trade in time if they have to open their wallet, write the amount they want to send, sign the transaction, wait for a confirmation and finally wait for the exchange to acknowledge their deposit to finally be able to make their trade, by the time all of that happened the market has moved so much that most likely the trading opportunity has evaporated already.

[JunkieMiner]

I simply keep them in an exchange wallet and my habit about trading is that I never do the day trading whenever if the coins are not stored, so in my opinion there must be some exchanges in which the one should keep their coins after trading and when they wants to start in another day then they should start it with the same .

[CryptopreneurBrainboss]

I think being trader you need fast access to your coins and thus you can not have them stored on the wallets. True. But, keeping the tradable amount on the exchanger is completely fine in case of day trading. There is always good security these days for the crypto exchanges considering you choose the reputed one. Note that they are so secure as you can also choose to stake it funds on them.

Don't advocate staking on centralized exchange, they're never secured, better you stake on decentralized platforms that you can always have access to your funds whenever you want them. As for traders especially those actively day trading, you just have to risk storing your funds on the exchange. This is why we're advice to only use funds we're comfortable losing. Don't go over trading more funds than you can handle if you lose them as by storing them on a centralized exchange that means they're liable to hack (you losing them).

These days we have decentralized platform doing impressive volumes even more than centralized platforms that you can hold your funds privately in your wallet and still trade multiple coins using decentralised platforms like Uniswaps etc. You don't have to use the centralized platforms to get the full advantage iyf trading coins.

[Ryker1]

I simply keep them in an exchange wallet and my habit about trading is that I never do the day trading whenever if the coins are not stored, so in my opinion there must be some exchanges in which the one should keep their coins after trading and when they wants to start in another day then they should start it with the same .

Well most common problem is how to find an exchange that you can entrust your fund and keep safe while on the exchange wallet which is we always doubt that it is vulnerable to possible hacks. How about the exchange that promised a safe asset fund ^[SAFU], perhaps they are trusted enough to store funds but that does not serve as any guarantee that your money is safe. Perhaps that is a part of a risk of those traders that we need to manage, because it is not easy for now to pick a good exchange that has a good volume for the day trading. Just take the risk or leave for being a crypto trader.

[bitgolden]

That is the issue and the most traders have to go through this same thoughts every time and at the end they feel that it is usually best for them to just store their cryptocurrencies on the exchange that they are making use of, maybe Binance.com. and coinbase.com, instead of having to keep withdrawing and depositing it all the time that they want to trade on the platform which will result in having to pay a lot of fees.

But, by having their cryptocurrency stored on the exchange they can easily get to trading without much hassle. Although sometimes you can as well just divide the money and not put all of them on the exchange except the ones that you are trading with. That way you can at least minimize the risk.

The reality is that if you want to keep your money there for trading, then you should still hold the amount that you will use for trading, and not the whole amount. You should never trade with your whole amount anyway, which means that you would still have some in cold storage (could be ledger, could be simple bitcoin wallet, could be non-custodial wallet).

If you have 100 bucks and trade with all 100 that would be wrong, if you have 100 and trade with 10, then keep the 10 in exchanges but put the 90 away. That would be a lot better for you and you could do a lot better that way. Doesn't mean that you should trade with 10%, that could change but never 100% for sure.

[Cookdata]

A trader is different from a hodler, one hold for short period depending on the kind of position and assets you own at that particular and the other one is hodler who own his coins in an off-exchange, trading and living some substantial amount of your assets on an exchange for a long time is very risky. However, you don't have a choice but to live it on the exchange so that you can just buy and sell your desired cryptocurrency.
Talking about the fees, I think there are those whales who don't really care about those fees because they gain back from the trades they carried.

[nhaila]

Basically a trader must deposit his trading profit in his personal account. A trader is constantly trading with market analysis so it is definitely troublesome to transfer his currency regularly. So for the convenience of his work, he must deposit his assets in his personal exchange account.

[barbara44]

Daytraders do not have too much of a choice, when they have a window of a few seconds to make their trades then they cannot hope to make their trade in time if they have to open their wallet, write the amount they want to send, sign the transaction, wait for a confirmation and finally wait for the exchange to acknowledge their deposit to finally be able to make their trade, by the time all of that happened the market has moved so much that most likely the trading opportunity has evaporated already.

This is the true answer. If they are trading, and they have a small chance to achieve what they are trying to achieve, spending extra amount and time to send the money from the wallet to the exchange and then trade, and trade back and send it back again all would be too inefficient.

I do not believe that we should be putting our trading money into anywhere else, if you are a trader then just keep it in the exchange. Hell, I do not trade that much and yet I still keep all my money in Binance, I just trust them more than I trust any wallet, and it is free to use them as a wallet as well, not only it is free, you could even stake or earn interest there as well.

[tvplus006]

Basically a trader must deposit his trading profit in his personal account. A trader is constantly trading with market analysis so it is definitely troublesome to transfer his currency regularly. So for the convenience of his work, he must deposit his assets in his personal exchange account.

You do not have to deposit your cryptocurrency to an exchange wallet, as you can use a decentralized exchange for trading. This way you will constantly maintain control over your finances and will not worry that a centralized exchange can block your cryptocurrency.

[pawanjain]

If I were a day trader then I would only store a particular amount of my coins on the exchange which I want to day trade with.
If the amount is huge I would split it up into multiple exchanges by carefully researching that the exchange is reputable.
The rest of my coins will be staying in a non custodial wallet and all the profits that I would get will be withdrawn to these wallets on regular time intervals.

[Qikiye]

Actually a day trader reserve his cryptocurrencies in his cryptocurrencies wallets or exchange wallets . He always trade his cryptocurrencies in centralised or decentralised exchanges , if he trades into centralised exchange, he should Keep exchange wallets or decentralised exchanges he should Keep it's his wallets.

[Silberman]

That is the issue and the most traders have to go through this same thoughts every time and at the end they feel that it is usually best for them to just store their cryptocurrencies on the exchange that they are making use of, maybe Binance.com. and coinbase.com, instead of having to keep withdrawing and depositing it all the time that they want to trade on the platform which will result in having to pay a lot of fees.

But, by having their cryptocurrency stored on the exchange they can easily get to trading without much hassle. Although sometimes you can as well just divide the money and not put all of them on the exchange except the ones that you are trading with. That way you can at least minimize the risk.

The reality is that if you want to keep your money there for trading, then you should still hold the amount that you will use for trading, and not the whole amount. You should never trade with your whole amount anyway, which means that you would still have some in cold storage (could be ledger, could be simple bitcoin wallet, could be non-custodial wallet).

If you have 100 bucks and trade with all 100 that would be wrong, if you have 100 and trade with 10, then keep the 10 in exchanges but put the 90 away. That would be a lot better for you and you could do a lot better that way. Doesn't mean that you should trade with 10%, that could change but never 100% for sure.

Correct, and like most of the time things come down to money management, money management is most of the time disregarded by many traders and they think it is not important when in fact it is key to be able to become a successful trader, after all it is not rare to see people using all their capital in each trade or even using leverage over the totality of their capital, and it does not matter how good your trading system is you will go bankrupt sooner or later by doing that.

[gabbie2010]

Actually a day trader reserve his cryptocurrencies in his cryptocurrencies wallets or exchange wallets . He always trade his cryptocurrencies in centralised or decentralised exchanges , if he trades into centralised exchange, he should Keep exchange wallets or decentralised exchanges he should Keep it's his wallets.

I traded cryptocurrencies using Binance exchange and I stored all my coins in the exchange wallet in form of a stable coin after successfully executed a trade e.g USDT meanwhile I traded some of profits using P2P to fiat and sent directly into my bank account, I knew how risky it is to store or hodl my coins in the exchange wallet because some of these exchanges are prone to hacking, though I am still trading with small amount of funds, however if I earn huge profits daily I would transfer all profits into my private wallet on daily basis even with a high transaction fees.

[Vaskiy]

It is always said that don't save your holdings on any exchange, try to keep it secure on the non custodial wallets. There are traders who follow it, because the trading amounts will be high and the transaction fee won't affect the withdrawal and deposit.

With low volume traders, they think of the transaction cost and this mostly makes them hold it on the exchange itself than making withdrawal every day and deposit the next day. Some exchanges like Binance gives cent percent trust, because even at the time of hack it paid from its reserve to the affected users.

[seleme]

I am also day trader and it is better to keep your trading capital on exchanges. Saving fees and avoiding possible risks can save your day, sometimes making mistakes can cost you few weeks to recover. For short-term trading positions, leaving funds on exchanges sounds like a good idea but for long-term benefits it is recommended buying hardware crypto wallet. BTW, the exchange can flag your account if you keep depositing/withdrawing similar amount all day. It can be checked as crypto mixing since many users keep doing such things for avoiding the potential tracking issues, IMHO.

[gamer4156]

A few purposes to straight associate their metamask wallets assuming it's for BSC and ERC20 yet we know that in the event that it's on ETH organization, expense isn't modest. security on which you would think on effectively pulling off your assets on a unified stage

[tygeade]

I traded cryptocurrencies using Binance exchange and I stored all my coins in the exchange wallet in form of a stable coin after successfully executed a trade e.g USDT meanwhile I traded some of profits using P2P to fiat and sent directly into my bank account, I knew how risky it is to store or hodl my coins in the exchange wallet because some of these exchanges are prone to hacking, though I am still trading with small amount of funds, however if I earn huge profits daily I would transfer all profits into my private wallet on daily basis even with a high transaction fees.

I use BUSD but I basically do the same thing. I do small trades, usually deal with long term investments and I have to say that it has been a very clear thing for me when we are talking about how I could trade only small amounts but still even on long terms I could use Binance. People are talking crazy when they are saying you should keep your money in your wallet or something like that.

I mean why would I do that when Binance is better at it and their entire multi-billion dollar business relies on the fact that they could keep my money safe? Trade there all you want, you could lose your money from bad trades, but I highly doubt it would be from them not paying you.

[LastKiss]

Assuming you trade a lot and are a daytrader and use binance, coinbase and all those exchanges, you need your coins on the exchange to trade.  But when you are done with trading that day, do majority of traders just leave their coins there till the next day?  Now if you are trading it with USD, then no issue then right since the balance would be USD or a portion of your balance is in USD?


If you are doing this with coins like ETH, you are going to pay a ton of fees each way.  Your exchange is going to charge you a fee and you going to pay a decent fee sending it back the next day.  Now imagine having many other altcoins where the fees are similar.  I can' t imagine people are depositing/withdrawing each day?  The deposit/withdraw fees would eat them up if they do ETH or even if they use a lot of other coins because the exchange is going to charge them a flat fee each time.

Well, I will keep my coins in exchange until I satisfy with my result in trading. I just trust the exchange I use because they provide kind of security features like 2FA Authenticator, Anti Email Phishing and others. So with that feature will make me feel safe but when it comes to long term holding and in a lot of amounts of coins I prefer to keep my funds in a hardware wallet.

[MFahad]

Many of the traders will i think store in exchange because day trader using some usdt to make profit daily and they send profit to  hardwallet or soft wallet. Especially if the daily trade coin fee high like Eth than its very hard to daily withdraw token.

[perla]

They said that storing in exchange site is very dangerous since you don't know whether exchange site is safe from hackers is that possible to trade in exchange site directly with your Ledger or Nano hardware wallet like logging in to Metamask but this one you are going to login using your hardware wallet.

[JooBra]

They said that storing in exchange site is very dangerous since you don't know whether exchange site is safe from hackers is that possible to trade in exchange site directly with your Ledger or Nano hardware wallet like logging in to Metamask but this one you are going to login using your hardware wallet.

Long term and day trading are different things. Keeping your money for trading somewhere like Binance which is pretty safe like shown during the years it's okey i think.

[blockman]

They said that storing in exchange site is very dangerous since you don't know whether exchange site is safe from hackers is that possible to trade in exchange site directly with your Ledger or Nano hardware wallet like logging in to Metamask but this one you are going to login using your hardware wallet.

It's not advisable to keep your assets in exchanges. It's okay to leave some and trade them if you want to but do not leave all your assets there. Whichever is you're comfortable with and you know what you do to avoid being compromised, just keep on practicing the safe way of keeping your assets. Because not everyone is safe from it, I've read a lot of stories that their funds were compromised despite being aware of the hacks that has been revolving around in the community.

[Silberman]

They said that storing in exchange site is very dangerous since you don't know whether exchange site is safe from hackers is that possible to trade in exchange site directly with your Ledger or Nano hardware wallet like logging in to Metamask but this one you are going to login using your hardware wallet.

It's not advisable to keep your assets in exchanges. It's okay to leave some and trade them if you want to but do not leave all your assets there. Whichever is you're comfortable with and you know what you do to avoid being compromised, just keep on practicing the safe way of keeping your assets. Because not everyone is safe from it, I've read a lot of stories that their funds were compromised despite being aware of the hacks that has been revolving around in the community.

You are right however for a trader which is hell bent on trying to obtain profits having money in the sidelines not participating in a trade is simply unacceptable to them, so they may not have any other option but to have all their capital at exchanges all the time, now a possible way to avoid this could be by using leverage and a very tight stop loss, but this will increase the number of whipsaws and you need to pay additional few which can destroy the profitability of most day traders anyway.

[doomloop]

They said that storing in exchange site is very dangerous since you don't know whether exchange site is safe from hackers is that possible to trade in exchange site directly with your Ledger or Nano hardware wallet like logging in to Metamask but this one you are going to login using your hardware wallet.

Long term and day trading are different things. Keeping your money for trading somewhere like Binance which is pretty safe like shown during the years it's okey i think.

Long term what, investing? well if it is then it is a must to store the funds on the hardware wallet and not inside the exchanges but if it's for trading purposes you can just choose a trusted exchange and store your funds on them. A trusted exchange have a better security than the non trusted one, we are sure that hackers will have a hard time of penetrating it.

@perla you use metamask? Be careful with this wallet because this wallet is not totally decentralized anymore. There are anomalies with this wallet lately. The one that you mean connecting the wallet directly to trade is I think works only on a decentralized exchange but not on binance and similar sites.

[Ludmilla_rose1995]

I personally always prepare the assets that I will trade on the exchange where I trade because it is really impossible to transfer to a personal wallet if I finish trading, besides the fees charged will definitely reduce the number of assets I have.

[wozzek23]

if it is then it is a must to store the funds on the hardware wallet and not inside the exchanges but if it's for trading purposes you can just choose a trusted exchange and store your funds on them. A trusted exchange have a better security than the non trusted one, we are sure that hackers will have a hard time of penetrating it.

Thats not even really needed. I mean it is cool if you have a lot of money, if you are long term investor and you have a lot of money then it makes sense to get a ledger nano or something like that. However, if you are using Binance or Coinbase as your long term base, then it is not really that bad neither. They are two reputable exchanges and I highly doubt that anything would happen to your money there.

If you are using 2FA as well? Then it is probably as secure as your ledger as well. I am not saying that do not use hardware wallet, do use that if you can and it is the first option for sure. However, acting as if Coinbase would be a terrible choice never really made sense to me.

[blockman]

It's not advisable to keep your assets in exchanges. It's okay to leave some and trade them if you want to but do not leave all your assets there. Whichever is you're comfortable with and you know what you do to avoid being compromised, just keep on practicing the safe way of keeping your assets. Because not everyone is safe from it, I've read a lot of stories that their funds were compromised despite being aware of the hacks that has been revolving around in the community.

You are right however for a trader which is hell bent on trying to obtain profits having money in the sidelines not participating in a trade is simply unacceptable to them, so they may not have any other option but to have all their capital at exchanges all the time, now a possible way to avoid this could be by using leverage and a very tight stop loss, but this will increase the number of whipsaws and you need to pay additional few which can destroy the profitability of most day traders anyway.

Well, there could be that reasons that they have and valid and that's why they're tying their money on those exchanges. But just for the sake of their own safety.
The experience of others have already told us that we should be careful on keeping our money in the exchanges and we don't want to be part of those victims that can no longer get their money.

[iv4n]

It's not advisable to keep your assets in exchanges.

Many years ago when I started with crypto everything was so uncertain, exchanges were often hacked, scams and frauds were everywhere, and keeping coins without private keys was a really big problem! That rule still exists, never doubt it, if you don't have private keys you don't own coins, but many other things have changed, exchange offices are now much more reliable than before! I am not afraid to keep some amounts on different exchanges! I am doing the same for years and I never had a single problem, that speaks for itself!
People who day trade should choose a reliable exchange for that and be free to store some amounts there! If you are afraid of that you shouldn't day trade in the first place! Simply moving funds after every trade is too expensive!

[blockman]

It's not advisable to keep your assets in exchanges.

Many years ago when I started with crypto everything was so uncertain, exchanges were often hacked, scams and frauds were everywhere, and keeping coins without private keys was a really big problem! That rule still exists, never doubt it, if you don't have private keys you don't own coins, but many other things have changed, exchange offices are now much more reliable than before! I am not afraid to keep some amounts on different exchanges! I am doing the same for years and I never had a single problem, that speaks for itself!
People who day trade should choose a reliable exchange for that and be free to store some amounts there! If you are afraid of that you shouldn't day trade in the first place! Simply moving funds after every trade is too expensive!

It's okay if you do that because you know that it can happen anytime, just being aware is already good as it is because you've seen the changes. As you've said, it still applies today.
Choosing a reliable exchange is vital and if the hack happens, they can just refund all the affected users. But we don't know if that ever happens again, if they're going to give the same refund as before, we just don't know what can really happen in the future.

[Oilacris]

It's not advisable to keep your assets in exchanges.

Many years ago when I started with crypto everything was so uncertain, exchanges were often hacked, scams and frauds were everywhere, and keeping coins without private keys was a really big problem! That rule still exists, never doubt it, if you don't have private keys you don't own coins, but many other things have changed, exchange offices are now much more reliable than before! I am not afraid to keep some amounts on different exchanges! I am doing the same for years and I never had a single problem, that speaks for itself!
People who day trade should choose a reliable exchange for that and be free to store some amounts there! If you are afraid of that you shouldn't day trade in the first place! Simply moving funds after every trade is too expensive!

It's okay if you do that because you know that it can happen anytime, just being aware is already good as it is because you've seen the changes. As you've said, it still applies today.
Choosing a reliable exchange is vital and if the hack happens, they can just refund all the affected users. But we don't know if that ever happens again, if they're going to give the same refund as before, we just don't know what can really happen in the future.

Speaking of future then everything is not assured or doesnt really have any guarantees that it would really be happening again or possible things to happen specially that this market involves big money

which is great spot for hackers to get huge amount of money.For daytraders then most of their funds would be stored on exchangers yet they are active on making out some trades then it would

be understandable that they would really be having that kind of set-up.Funds are on idle and able to make out some immediate move when there's opportunity but of course it would be having
its cons.

[BobK71]

In this regard, I would say that you can trade on exchanges like Binance. Trading fees are much lower. You can convert your assets into a stable coin by trading every day. Binance is very useful in this case. You can easily convert to USDT or BUSD to your assets. If you select others exchanges like it you can do.

[blockman]

It's okay if you do that because you know that it can happen anytime, just being aware is already good as it is because you've seen the changes. As you've said, it still applies today.
Choosing a reliable exchange is vital and if the hack happens, they can just refund all the affected users. But we don't know if that ever happens again, if they're going to give the same refund as before, we just don't know what can really happen in the future.

Speaking of future then everything is not assured or doesnt really have any guarantees that it would really be happening again or possible things to happen specially that this market involves big money

which is great spot for hackers to get huge amount of money.For daytraders then most of their funds would be stored on exchangers yet they are active on making out some trades then it would

be understandable that they would really be having that kind of set-up.Funds are on idle and able to make out some immediate move when there's opportunity but of course it would be having
its cons.

That's how it goes for them and it's up to them how long they're going to keep it there. They don't have to keep all that they have in exchange even if they're day traders.
Leaving only the funds that they need to trade and taking the profits that they have to so that they have assured money that they've got from trading.
It is what they should do so that when things unexpected come, they are able to take the money with them and have comfort and peace of mind.

[feelideb]

The issue of  trusting a centralized exchange with your coin is a very dicey risk that is unavoidable for traders! Having to take a position require that you trust an exchange with your fund! However, one can mitigate this risk by following a time bound plan for your trading hoping you will not fall victim of a hack or government regulations!

[Sebas.tian]

In this regard, I would say that you can trade on exchanges like Binance. Trading fees are much lower. You can convert your assets into a stable coin by trading every day. Binance is very useful in this case. You can easily convert to USDT or BUSD to your assets. If you select others exchanges like it you can do.

Exactly, trading on binance will really help you to make a huge amount of profits from the market. Binance exchange fees is more lower compare to ethereum gas fees that is too high for traders to  make a passive income in this period.

I believe binance is very useful to both short and long traders which many traders has confirmed the coin among the best coins to invest in this season, and have full assurance that you will definitely achieve something good at the of the market. It will be difficult for you to experience failure in binance investment because of the low gas fees that involved.   

[Eternad]

The issue of  trusting a centralized exchange with your coin is a very dicey risk that is unavoidable for traders! Having to take a position require that you trust an exchange with your fund! However, one can mitigate this risk by following a time bound plan for your trading hoping you will not fall victim of a hack or government regulations!

DEX is the solution for all your concern. Daytraders nowadays doesn't rely that much on CEX since there is already an alternative way to day trade without risking money on CEX since the current available DEX has sufficient volume to rival what CEX offered and this is only possible with the DeFi idea that used on DEX. Still many people are using CEX for trding due to its feature of placing limit order which DEX can’t provide because this is the limitation of an AMM exchange.

[doomloop]

The issue of  trusting a centralized exchange with your coin is a very dicey risk that is unavoidable for traders! Having to take a position require that you trust an exchange with your fund! However, one can mitigate this risk by following a time bound plan for your trading hoping you will not fall victim of a hack or government regulations!

DEX is the solution for all your concern. Daytraders nowadays doesn't rely that much on CEX since there is already an alternative way to day trade without risking money on CEX since the current available DEX has sufficient volume to rival what CEX offered and this is only possible with the DeFi idea that used on DEX. Still many people are using CEX for trding due to its feature of placing limit order which DEX can’t provide because this is the limitation of an AMM exchange.

DEX is great and all but at the same time it's limited most of the time. Look at how many coins and tokens you can trade on Binance and how good they are, then go ahead and check uniswap. Maybe the number is bigger on uniswap, because there are tokens which you can swap there but we can't even see them listed on CMC, it is inclusive like that.

However, the reality is that the amount of marketcap the coins on Binance you can trade versus volume uni or pancake have is not even comparable to me. This is why DEX is still lacking a lot, you need to get a lot more wrapped stuff in all of the chains in order to make them equally strong so we can trade there.

[Mahanton]

The issue of  trusting a centralized exchange with your coin is a very dicey risk that is unavoidable for traders! Having to take a position require that you trust an exchange with your fund! However, one can mitigate this risk by following a time bound plan for your trading hoping you will not fall victim of a hack or government regulations!

DEX is the solution for all your concern. Daytraders nowadays doesn't rely that much on CEX since there is already an alternative way to day trade without risking money on CEX since the current available DEX has sufficient volume to rival what CEX offered and this is only possible with the DeFi idea that used on DEX. Still many people are using CEX for trding due to its feature of placing limit order which DEX can’t provide because this is the limitation of an AMM exchange.

You do got some point but there are important things which you can found on CEX which isnt on DEX. Yes, volume might be considerable but the volume that we could find in CEX is much more volatile due to
lots of buyers and sellers who do engage actively and speaking on whose do have bigger volume then CEX does have and plus having that feature where you could convert your assets to fiat is something
which is preferrable most of the time which it isnt surprising that people would really love on staying up on these platforms rather than with dexes but the main risk on here is that you dont
hold your own keys when you do deposit up your funds into an exchange but if you could able to bare it out then these things wont be an issue.

[kawetsriyanto]

Obviously keeping your coins in an exchange is not as safe as a hardware wallet, but what do daytraders do?  If I daytrade, I would just keep my coins in the exchange until I need to withdraw or if I know I won't be trading for a while.

That's what most daytraders probably do. Sending regularly our tokens to hardware wallets will require too many costs or fees. It won't be an effective way to manage our tokens, the profits decrease regularly if always withdraws the tokens to the hard wallet. The only way is to keep our token on the exchange, and only send the tokens to a hard wallet once we think it is really needed. Even if we stop trading for a while, better to keep the tokens on the exchange. Except, if we are no longer have the plan to trade on the exchange in the future.

[rojan]

Assuming you trade a lot and are a daytrader and use binance, coinbase and all those exchanges, you need your coins on the exchange to trade.  But when you are done with trading that day, do majority of traders just leave their coins there till the next day?  Now if you are trading it with USD, then no issue then right since the balance would be USD or a portion of your balance is in USD?


If you are doing this with coins like ETH, you are going to pay a ton of fees each way.  Your exchange is going to charge you a fee and you going to pay a decent fee sending it back the next day.  Now imagine having many other altcoins where the fees are similar.  I can' t imagine people are depositing/withdrawing each day?  The deposit/withdraw fees would eat them up if they do ETH or even if they use a lot of other coins because the exchange is going to charge them a flat fee each time.


Obviously keeping your coins in an exchange is not as safe as a hardware wallet, but what do daytraders do?  If I daytrade, I would just keep my coins in the exchange until I need to withdraw or if I know I won't be trading for a while.  The other thing is some coins they want to trade, it is possible they can't store it in their hardware wallet because that coin is not supported.  So because of that, no other option than to store it on the exchange?  Or they use something like metamask?  But still they have to pay fees depositing/withdrawing right?

What is happening here is that the real traders are treating all the girls like BINANS one now in AJ days, so the training of all the girls here is for them maybe one day or two days a week they will buy at fixed price and sell in short time for profit in the void.  But they will repeat the training along when they get a little successful business but here they are a lot for a month.

[shawon01]

Assuming you trade a lot and are a daytrader and use binance, coinbase and all those exchanges, you need your coins on the exchange to trade.  But when you are done with trading that day, do majority of traders just leave their coins there till the next day?  Now if you are trading it with USD, then no issue then right since the balance would be USD or a portion of your balance is in USD?


If you are doing this with coins like ETH, you are going to pay a ton of fees each way.  Your exchange is going to charge you a fee and you going to pay a decent fee sending it back the next day.  Now imagine having many other altcoins where the fees are similar.  I can' t imagine people are depositing/withdrawing each day?  The deposit/withdraw fees would eat them up if they do ETH or even if they use a lot of other coins because the exchange is going to charge them a flat fee each time.


Obviously keeping your coins in an exchange is not as safe as a hardware wallet, but what do daytraders do?  If I daytrade, I would just keep my coins in the exchange until I need to withdraw or if I know I won't be trading for a while.  The other thing is some coins they want to trade, it is possible they can't store it in their hardware wallet because that coin is not supported.  So because of that, no other option than to store it on the exchange?  Or they use something like metamask?  But still they have to pay fees depositing/withdrawing right?

What I think here is that some of the merchants here have chosen some exchangers like Bean Ansar Coinbase and many more such popular exchangers they do here every day and through its short term training they get a good profit from here.  They do this via SMS. Basically they are very popular. Some of these are fixed by some traders

[macson]

In this regard, I would say that you can trade on exchanges like Binance. Trading fees are much lower. You can convert your assets into a stable coin by trading every day. Binance is very useful in this case. You can easily convert to USDT or BUSD to your assets. If you select others exchanges like it you can do.

Binance is one of the recommended exchanges for storing assets because of its good reputation and experience in terms of security.  but for those with large capital, there is nothing wrong with moving the assets in a personal wallet after trading because we can't make sure an exchange as good as binance is safe from hackers.

[nur rochid]

In this regard, I would say that you can trade on exchanges like Binance. Trading fees are much lower. You can convert your assets into a stable coin by trading every day. Binance is very useful in this case. You can easily convert to USDT or BUSD to your assets. If you select others exchanges like it you can do.

Binance is one of the recommended exchanges for storing assets because of its good reputation and experience in terms of security.  but for those with large capital, there is nothing wrong with moving the assets in a personal wallet after trading because we can't make sure an exchange as good as binance is safe from hackers.

moving personal assets is better, because the profit we can collect in personal assets, by dividing the placement of assets like that, we indirectly minimize risk. as we know binance is not spared the hackers, but luckily they take full responsibility. For now, Binance is indeed the most favorite exchange, and it is feasible to trade there, especially for beginners with minimal experience, of course, the security of placing funds is the first choice.

[zaesvlas]

At the same time, one should not lose sight of the fact that everyone chooses for work or, in this case, storage, the option that he considers more convenient or reliable.

[Desscount]

In this regard, I would say that you can trade on exchanges like Binance. Trading fees are much lower. You can convert your assets into a stable coin by trading every day. Binance is very useful in this case. You can easily convert to USDT or BUSD to your assets. If you select others exchanges like it you can do.

Binance is one of the recommended exchanges for storing assets because of its good reputation and experience in terms of security.  but for those with large capital, there is nothing wrong with moving the assets in a personal wallet after trading because we can't make sure an exchange as good as binance is safe from hackers.

When it comes to exchanges indeed Binance is one of the most popular exchanges,
especially by looking at the features that Binance has, it can be said to be complete so many people use it,
the level of security is also high although indeed we never know whether it will be safe from hackers

[milewilda]

In this regard, I would say that you can trade on exchanges like Binance. Trading fees are much lower. You can convert your assets into a stable coin by trading every day. Binance is very useful in this case. You can easily convert to USDT or BUSD to your assets. If you select others exchanges like it you can do.

Binance is one of the recommended exchanges for storing assets because of its good reputation and experience in terms of security.  but for those with large capital, there is nothing wrong with moving the assets in a personal wallet after trading because we can't make sure an exchange as good as binance is safe from hackers.

When it comes to exchanges indeed Binance is one of the most popular exchanges,
especially by looking at the features that Binance has, it can be said to be complete so many people use it,
the level of security is also high although indeed we never know whether it will be safe from hackers

There's no such thing about perfect security even with the current best exchange did experience some hack.
Hack Brief: Hackers Stole $40 Million from Binance Cryptocurrency Exchange

Therefore, there's no assurance about security but good thing that they are really that prepared on making out some compensations or refund
on affected users.

[Captain Corporate]

There's no such thing about perfect security even with the current best exchange did experience some hack.
Hack Brief: Hackers Stole $40 Million from Binance Cryptocurrency Exchange

Therefore, there's no assurance about security but good thing that they are really that prepared on making out some compensations or refund
on affected users.

I remember this period, Binance acted as if nothing happened and that was so impressive that it was the first time I have seen a place get more customers after a hack. Normally when a place gets hacked, they are in trouble and have a hard time paying people their withdrawals and so forth, which eventually leads to them bankrupting as well. In this case, Binance said "calm down, everything is under control" and for the first time in crypto history, they were actually not lying, because exchanges always say that but they are always lying. People saw this, they withdrew with no problem at all and realized Binance was different from any other place, so there were even more people coming back to Binance, even new people.