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Topic: Exchange or Wallet? (Read 8780 times)

Ethelbert Moore

Newbie

Activity: 110
Merit: 0

Re: Exchange or Wallet?

March 21, 2018, 03:47:09 AM

#881

A wallet is of more necessity for both ether and bitcoin, and any other altcoin for that matter.
One thing you must consider when choosing your wallet is its security features. One of the most secure features is multi-signature which allows for you to have a 2 out of 3 private key scheme. Basically, if your phone is lost or stolen you will be able to get your bitcoin back easily with this security feature.

rarg

Member

Activity: 224
Merit: 10

The revolutionary trading ecosystem

Re: Exchange or Wallet?

March 21, 2018, 03:47:55 AM

#882

Quote from: Janinjo11 on February 12, 2018, 05:55:57 PM

I have a question.

What is better? To keep your coins on some Exchange site or to open wallets for each coin?

I would like to hear some advice. What are pros & cons of each option?

Thanks

Most of the people on this forum prefer to keep your coins in your wallet.
Better you can use hardware wallet. But as a trader, it's hard to do that.
So, you have to define your purpose first. Do you join in crypto as a trader or a holder?

Benedict Lee

Newbie

Activity: 53
Merit: 0

Re: Exchange or Wallet?

March 21, 2018, 03:48:54 AM

#883

That totally depends on how much control you want over your bitcoin or Ethereum.

Basically when you keep your bitcoin in trading platform wallet then company providing it has control over your bitcoin. If you don't want that you should get a separate dedicated wallet.

Mishael

Jr. Member

Activity: 237
Merit: 1

Re: Exchange or Wallet?

March 21, 2018, 04:10:14 AM

#884

never store your coins on exchange sites. I think it's too risky at hacker attacks. Better keep your coins in hardware wallet.
Use trusted exchange sites only when you want to trade.

Factomask

Jr. Member

Activity: 106
Merit: 2

Re: Exchange or Wallet?

March 21, 2018, 04:16:24 AM

#885

Quote from: blant on February 12, 2018, 06:03:10 PM

Quote from: Janinjo11 on February 12, 2018, 05:55:57 PM

I have a question.

What is better? To keep your coins on some Exchange site or to open wallets for each coin?

I would like to hear some advice. What are pros & cons of each option?

Thanks

The best practice is to keep only those funds on exchange that you want to day trade or hold on mid term. For other assets and long term investments is better to use cold wallets.

It is best to keep on wallets,so you will have control over the funds.After the funds on the exchange control over them already has the exchange

Patadong

Member

Activity: 224
Merit: 13

The stock photography revolution

Re: Exchange or Wallet?

March 21, 2018, 06:28:07 AM

#886

For save my property I'm always save in my private wallet.
Because I'm sure the security of that wallet is good than we save in exchange.
I will put my money in exchange when I want trading and widraw. Because exchange some time is not good safety.

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Whitefalcon

Member

Activity: 146
Merit: 12

Re: Exchange or Wallet?

March 21, 2018, 06:38:52 AM

#887

if you want hold not for sell at the short time I give advice to keep on your wallet
learn from Mtgox , cryptsi that exchange has been hacked and scam
but if you want sell at short time keep on exchanger wallet

efey399

Newbie

Activity: 154
Merit: 0

Re: Exchange or Wallet?

March 21, 2018, 06:38:56 AM

#888

One of the biggest problems in the digital money world is the security of your wallets and exchange sites. my preference is from the wallet

Blockman21

Member

Activity: 205
Merit: 10

Re: Exchange or Wallet?

March 21, 2018, 06:41:19 AM

#889

The only good thing in keeping your coins in some exchange site is that, if hard fork was happen during your coins is in exchange site, you can get another coins but it is different from your old coins. While if you open a wallet for each coin, it is safer than keeping all your coins in only one wallet.

ToyotaFortuner

Full Member

Activity: 574
Merit: 100

Re: Exchange or Wallet?

March 21, 2018, 11:02:03 AM

#890

Quote from: Janinjo11 on February 12, 2018, 05:55:57 PM

I have a question.

What is better? To keep your coins on some Exchange site or to open wallets for each coin?

I would like to hear some advice. What are pros & cons of each option?

Thanks

to keep the assets I have in the long run that I use I usually keep them in the wallet online directly like blockchain or MyEtherwallet, because if the store in the exchange market I am afraid if the assets I have lost.

stetym

Jr. Member

Activity: 196
Merit: 5

Re: Exchange or Wallet?

March 21, 2018, 03:16:43 PM

#891

Quote from: Janinjo11 on February 12, 2018, 05:55:57 PM

I have a question.

What is better? To keep your coins on some Exchange site or to open wallets for each coin?

I would like to hear some advice. What are pros & cons of each option?

Thanks

this is a very ambiguous solution! everyone can decide where it is better to keep the coins! but if you still decide to keep on the stock exchange then you need to make sure that this exchange is reliable!
but not all wallets are reliable!
It is best to use wallets that have good reviews!

TitanGEL

Sr. Member

Activity: 1036
Merit: 281

Re: Exchange or Wallet?

March 21, 2018, 03:24:04 PM

#892

Quote from: Janinjo11 on February 12, 2018, 05:55:57 PM

I have a question.

What is better? To keep your coins on some Exchange site or to open wallets for each coin?

I would like to hear some advice. What are pros & cons of each option?

Thanks

The purpose of wallets is to keep safe all of your coins. If you are not trader then you should store your bitcoins in wallets. Many people prefer to store bitcoins in bitcoin wallet than in exchanger because they say that there is possibility that the exchange can hack by the hackers.

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aleksej.rozhkov

Member

Activity: 238
Merit: 10

Re: Exchange or Wallet?

March 21, 2018, 04:01:22 PM

#893

In fact, yes, you can keep 2 purses for different cases exchanger for trade and an ordinary purse in order to keep.

childish

Sr. Member

Activity: 619
Merit: 250

Re: Exchange or Wallet?

March 21, 2018, 04:09:34 PM

#894

Quote from: Janinjo11 on February 12, 2018, 05:55:57 PM

I have a question.

What is better? To keep your coins on some Exchange site or to open wallets for each coin?

I would like to hear some advice. What are pros & cons of each option?

Thanks

of course i chosee exchange because in my opinion exchange is more easy than wallet and more simple
then more safety, ussually you just add 2fa in your exchange and set your number phone is so worth

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spiffcow

Full Member

Activity: 308
Merit: 100

Re: Exchange or Wallet?

March 21, 2018, 04:34:53 PM

#895

The huge advantage is, that most of the tokens are created on the ERC-20 platform and are provided by one wallet. I recommend to buy a hardware-wallet, which allowes to store several dozens of tokens at one place. Exotic tokens in small quantities may be stored at popular exchanges. Only don't forget about 2FA Wink

razinvel

Jr. Member

Activity: 168
Merit: 2

Re: Exchange or Wallet?

March 21, 2018, 06:26:02 PM

#896

I trust my own wallet somehow, the stock exchanges too often break, so that you can safely trust them with significant amounts.
At the exchange for a long time I only keep what I will not grieve, the fixed assets on the wallet

aces777

Sr. Member

Activity: 686
Merit: 250

Re: Exchange or Wallet?

March 21, 2018, 06:47:48 PM

#897

wallets work better for me, exchanges are ideal storage place for traders, but wallets are safer especially hardware wallets. they not only give you the convenience of monitoring the activities of your coins but also give you the ability to verify transactions before making them. we have al seen the news that exchages has been hacked and lots of coins lost, thats almost impossible with wallets.

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adzino

Copper Member
Hero Member

Activity: 3066
Merit: 576

www.Crypto.Games: Multiple coins, multiple games

Re: Exchange or Wallet?

March 21, 2018, 06:51:40 PM

#898

Quote from: aces777 on March 21, 2018, 06:47:48 PM

No. Not even traders should store their coins on an exchange for a long term, especially if the amount of coins is high. There are risks of the site being hacked and losing all its coin. Or even the traders account may get hacked and lose all his coins. Better take precautions before anything bad happens.

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quinn2018

Newbie

Activity: 84
Merit: 0

Re: Exchange or Wallet?

March 21, 2018, 06:53:03 PM

#899

personally I use my wallet to store my crypto since its the safest way and you have the private keys and if you are for long term investment.. If you are a short trader you go for exhange but the always accept the risk that the exchanges might be hack

nadifa17

Jr. Member

Activity: 112
Merit: 5

Re: Exchange or Wallet?

March 21, 2018, 07:19:40 PM

#900

I chose to save my coin in the wallet, because I think storing in the wallet is safer. which I fear if I keep the coin on the exchange is if the exchange experienced a scam or exchange went bankrupt

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