BitShares Forum

Main => General Discussion => Topic started by: Catchfire on December 19, 2014, 02:21:16 am

Title: BTS trading/security/wallet
Post by: Catchfire on December 19, 2014, 02:21:16 am

I traded BTC for BTS on Bter.  Should I or could I transfer the BTS into the BitShares Wallet for security purposes.  Some confusion here regarding the wallet and security.  Why would one hold BTS in a wallet while missing out on the advantages of holding on an exchange like Bter?
Thanks

Title: Re: BTS trading/security/wallet
Post by: onceuponatime on December 19, 2014, 02:55:19 am

Quote from: Catchfire on December 19, 2014, 02:21:16 am

I traded BTC for BTS on Bter.  Should I or could I transfer the BTS into the BitShares Wallet for security purposes.  Some confusion here regarding the wallet and security.  Why would one hold BTS in a wallet while missing out on the advantages of holding on an exchange like Bter?
Thanks

Some people consider exchanges to be central points of failure (they could be shut down by a government, their funds seized, etc.), and so recommend only holding funds on an exchange when you are actively buying or selling.

Others think that the convenience makes up for the higher risk.