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RE: Cryptocurrencies Top $101 Billion in Market Capitalization (With Price Predictions)
Yea maybe I should dig in the coins, but I want to transfer my coins to another wallet. Which exchange do you use?
I use a few, I tend to bounce where the low buy ins are and where the highest sells are lol. Usually Poloniex, Bittrex, Cryptopia...will sometimes visit YoBit but I am no a huge fan of them, seems scammy there lol...I walk out of YoBit feeling like I left a dead hooker in a room...something dirty feeling about that site hehehehehehehe. What I tend to do is watch prices on coinmarketcap.com as my hub, click on my coin there and hit the market tab and see who is paying the highest out, tends to be between Poloniex and Bittrex most times but there is always small exchanges that pop up and surprise you. I honestly am signed up with about 20+ exchanges but those listings I gave are usually where I go. Oh and lately I have been using Block Trades a lot for my mining, tend to send my mined coins there on the fly and toss them into Steem Power lately. Did a write up on that deep in my list on how to go about that but you can also follow @blocktrades on here they do a lot of postings and active with the Steemit crowd....awesome people over there from what I seen of them, never done me wrong
I do already have a poloniex account tho but didn't get to used to it because there are so much things on the website xD I'm using bittrex now and sent all my coins to it from litebit. well not all of them like peer coin has his own wallet.
Be careful using an exchange as a wallet, always best to trade there but keep wallets on your pc from the coin dev teams. Reason is there has been past known issues with lost money left on exchanges. Bittrex has a good rep but gotta remember this, you do not hold the keys for your coins when they are on an exchange, the exchange does so security is always on them and not yourself. I tend to trade and send my stuff to my personal wallet on my pc for that reason. Some leave them on exchanges but there comes risks in that area sometimes
Hmm.. So I will have 9 wallets or so to save my coins?
I am have run 16 myself lol. All depends are these things you plan to hold long term? Its just not too advised by most in crypto to keep money long term on any exchange. If your new you might want to read up on what happened to people with the MT GOX fiasco, millions was lost, well stolen by that exchange basically and since its been always advised to hold your coins in your own wallets with your own keys. You could look at wallets like JAXX WALLET who host most of the bigger coins in one wallet or EXODUS wallet who also host a few of them in one place. I just don't ever keep mine on the exchanges, but some people do...but its always at your own risk. That money on the exchange is technically not yours while its there, seen an article on this a long time ago that its technically theirs because they hold the keys, but they won't usually steal from anyone because its a business but if a hacker gets in there which they try, its not insured so at your own risk. Just trying to give you the advice given to me.
Major thing in crypto to always hold most important is your personal security of your coins. I worked with the PIVX coin and we always stressed to not leave coins floating on exchanges because of the security being out of the users hand. Now if you plan on a weeks worth of buying and selling then it should be fine but if your long term holding for weeks to months I always felt safer keeping my coins in my hands just to be safe. Its always user preference but just be safe with your finances, I have seen people lose a lot of money for not stressing the paranoia of security on their side and I hate seeing anyone hurt by that
Well thats an eyeopener to me XD I will get them on my own wallets asap! thank you for your advice, didn't know the thing with exchanges
In most cases probably something not to really worry about but there has been issues from time to time. I mainly tell you this from inside knowledge due to working within one of these coins myself. I did a bit of customer service work and heard some horror stories so I kind of get paranoid about other people handling my own security when it comes to money. Don't want to make you paranoid but just make you aware that the keys on exchanges in most aspects is in their hands. Most likely nothing to worry about but if you plan on a long term goal I would suggest getting some wallets.Most of us crypto guys stick to those. I day trade, go in for the day and pull all out at night and hold...wait for my big sell off and then back to the exchange. Just as advice, but look up MT GOX and what happened there through a google search, just so you know how those situations can go if it goes bad. Always best to read as much as you can with crypto