Wallets and exchanges


Oren asked 1 year ago

Hi,

I’m a new user. Looking after buying ETH and now Iv’e got a little issue..
I realize there are sites for exchange money and other sites to hold the coins.
My question is: is it necessary to have a wallet when I’m dealing with ETH?
Can I hold the money on the exchange site (and not inside the “wallet)?

Basicly I’m thinking to start with exchange of small amount and see how it goes. In the future I do plan to have a wallet account but just for beginning

Many thanks
Oren .T

1 Answers
Zsofia Elek answered 1 year ago

Hi Oren,
You can buy Ethereum without using a wallet, just by purchasing directly on the exchange and storing it there. However please note it is not safe to hold your coins on an exchange for longer period of time. You can read more about the different types of wallet in this article

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