Never keep your crypto on an exchange. Keep it in a wallet where you control the private keys. The exchange could get hacked or the wallet could go into extended maintenance and then your trapped or worse yet you lose all your crypto...
The only benefit is that you can trade it for other currencies pretty fast. Steem is already a very fast and free blockchain, so it's not really needed here at all. However, it can be beneficial to hold currencies such as ETH or BTC on exchanges, because then you can trade it for other currencies without transferring it from your wallet, and therefore don't have to pay transaction fees.
Yea though I noticed once that blocktrades didn't give me as good of a price as some of the exchanges per coin, according to coinmarket cap. But I really like the ability to buy directly not through an exchange, enough that a small price difference doesn't matter. One of the nice things about the Steemit platform -- it's really easy to get into.
Never keep your crypto on an exchange. Keep it in a wallet where you control the private keys. The exchange could get hacked or the wallet could go into extended maintenance and then your trapped or worse yet you lose all your crypto...
That's how I feel too.
And, the exchange goes up and down at will. Cash out when it's high, sell when it's low. But don't keep it on there.
The only benefit is that you can trade it for other currencies pretty fast. Steem is already a very fast and free blockchain, so it's not really needed here at all. However, it can be beneficial to hold currencies such as ETH or BTC on exchanges, because then you can trade it for other currencies without transferring it from your wallet, and therefore don't have to pay transaction fees.
Yea though I noticed once that blocktrades didn't give me as good of a price as some of the exchanges per coin, according to coinmarket cap. But I really like the ability to buy directly not through an exchange, enough that a small price difference doesn't matter. One of the nice things about the Steemit platform -- it's really easy to get into.