Guys is it safe to just put the purchased tokens on the exchange? cause i dont have a wallet in my android app. is it possible that it will be stolen? and claimed to be hacked? Am i doing the right way? Please can anyone help me. Thanks in advance.
Yes, it is safe to put it on the exchange, all exchanges have security measures to secure ones investment, However it is more better to have a wallet such as Myetherwallet, Coinbase, etc. to be more secure and keep it safe. Remember just be more responsible with your private keys.
I don't think putting money on the exchange is really safe. Hacks, temporary froze actions and just dumps happen from time to time and surely money is a lot safer in the wallet with good security. However, I also have some of my money on the exchanges, because I kind of get tired of getting to know the needed wallets. It's good if it's erc20 token, then myetherwallet can really hold everything, but holding coins is a lot easier on good exchanges than in different wallets. I guess both options have some ups and downs.