Keeping your crypto on an exchange

in #trading6 years ago

I would recommend everyone to that to buy a Ledger Nano S hardware wallet.

When you leave your coins on a crypto exchange, you do not control the private keys. They do. That means you do not own your coins. Exchanges are much more likely to be hacked. The exchange could randomly shut down and take everyone's coins with them. Or even a government can close it and take everyone's coins.

All of these have happened before. I feel much safer using a hardware ledger or core wallet than leave my coins on an exchange. I only leave what I am going to trade on the exchange. But do some research on the topic and decided what method is best for you. Good Luck!


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That why i am keeping my steem in my steemit account. Thank you for the info sir.

You crypto assest are your pure saving. You dont want any risk on it. This nano wallet is great choice for your safety. Exchanges are not likely save for you coin holding

I think for little assets you can trust on your wallet or steem wallet. But for heavy amount you dont trust on exchanges or steem wallet. Beacause your key is unsafe in you digital device. Anyone can get that. So try Ledger Nano S hardware wallet for you future safety.

Hi@ tradewonk
Thanks for letting us know this information. Actually i don't know that this type of issue can also occur.
Then I will try the wallet you suggested.
I will also resteem this article so that others can also be aware of this important topic and protect there coins.
I am from INDIA and we are less aware about such issues.
Thanks for educating us.

Protect your crypto assets with the most popular multicurrency hardware wallet in the market. The Ledger Nano S is built around a secure chip, ensuring optimal security.

I have saved my coin in steemit wallet. Beacause i have seen bittrex unable to trade in steem. Its the big problem for steem holders to trade on bittrex. In this situation you account wallet is good choice. And also Ledger Nano S hardware wallet is great one.

What if your hardware wallet got damaged?

You can recover it.

Posted using Partiko iOS

okay. but if it is like flash drive and when flash drive got damaged we can't recover it.

The seed allows you to recover all your coin, when you set up your knew nano ledger s !

Very well said. That cheeto looks pretty solid though.

I know, keeping coins on exchange is risky business. But how do you make profits when you're shuttling your coins to and from exchanges every time you want to trade?. The withdrawal fees on some of these exchanges is alarming.

Speaking of withdrawal fees, trade.io is one exchange that do not have withdrawal and commission fees yet until October 1st. An opportunity to get in and trade as much volume as you want while keeping all of the profits. Buy TIO tokens too. It's dirt cheap ATM.

Gave you a follow.
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there also risk keeping in hardware wallet, unless you have thick safe at home.