Are you going to keep your BTC on exchange during the upcoming forks? - page 2.

aardvark15

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Quote from: hatshepsut93 on October 14, 2017, 06:03:27 AM

The common advice for a fork is to move your money away from any online wallet and store it safely in your own wallet. And this is in fact a really good advice, because it's always safer to store your coins by yourself. But after August 1st some people who followed this advice started making angry posts about how they regret listening to it because they missed on an opportunity to sell their BCH coins while the markets were closed for deposits for that coin. This showed that holding your money on exchange is a risk that also has a potential reward - immediate access to a closed market for a forked coin.

So, I'm curious to ask traders two things:

1. Did you hold your BTC on exchange on August 1st?
2. Are you going to hold on exchange during Bitcoin Gold fork and during SegWit2x fork?

I took my Bitcoins off the exchanges during the last fork and I already have all my Bitcoins off the exchanges in anticipation of this upcoming fork. I’m doing this for two reasons:

1) most people advise us to do so to protect our investment

2) I don’t know for sure that the exchanges will give me the Bitcoin Gold that should be mine.

I think I heard that last time most major exchanges did give the forked coin to the customers, but you never know what will happen.

Quidat

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Quote from: ghost14k on October 23, 2017, 06:07:45 AM

I always split my Bitcoin in two ways. One in exchange and the other off exchange in my personal wallet. That way I have half to hold back to if things go awry or gain both ways.

This is indeed a good step though but would be rather much better if you do put up all of those bitcoin on a wallet which do have private keys which like on storing up on electrum rather than on putting still on exchanges.I dont really have too much trust on exchanges when it comes on fork events.They might support but i do find more hassle for me to claim such thing.

ghost14k

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I always split my Bitcoin in two ways. One in exchange and the other off exchange in my personal wallet. That way I have half to hold back to if things go awry or gain both ways.

wumBowo

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i kept my BTC on bittrex right now since they're confirming they will support BTG after the fork begin. This because i ony holding a quite small amounts and hope i can get some profit after the BTG market is open

x86Daddy

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In my opinion, you should hold BTC on your offline wallet. It is more safety to help you receive Bitcoin Gold.

mistanama

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Bitcoin Gold will depend on the exchanger's support and they will provide us with the necessary part. But if you are not sure it can put on wallet support for the hard fork and receive BTG. There is more security because you are holding your private key.

lacrypto

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OK so what if you are keeping them on exodus or any wallet storing private keys. Some exchanges are going live in 5 hours, such as YoBit. The rest go live in 24-48 hours.
How do you redeem your PK's to shove them to the exchange? A BTG wallet MUST be released by the time the fork happens in order for you to redeem your BTG or am I missing something?

The reason why I ask is because obviously you'd want to get in at the same time as everyone else to either #1 see the price and if high sell, or #2 hodl.
BUT..if you store on your own Wallet and you have your PK, how would you immediately be able to send to an exchange like YoBit and sell quickly?

Might be a noob question but I can't fill the gaps..

capoeira

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best place to have coins would be on Bitrex, IF ONLY they would say that they pay them out: https://steemit.com/bitcoin/@libertyranger/so-i-asked-bittrex-will-bittrex-support-the-bitcoin-gold-hard-fork-and-they-answered-me
problem.

GoodLuck2

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Quote from: miyong on October 20, 2017, 06:11:15 AM

Yes, i will keep my BTC on the exchange site for this upcoming hard fork. We've experienced this last August and I think there is nothing to worry about the hard fork.

There is no reason to deny the fact that bitcoin is having a very much importance and it will never disappoint the ones who believe in bitcoin. I will also keep all my bitcoins for as long as I can no matter what the condition are because of the reason that I know these forks are temporary and it will not affect the worth of bitcoin that much. I will keep my bitcoins not only during the upcoming forks but also after these forks.

Kemarit

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Quote from: pawanjain on October 14, 2017, 12:34:33 PM

The simplest answer would be if the Exchange supports the coin then it won't be any problem to deposit the coins on it to receive the free coins.
Yes I did stored my coins on Bittrex while the August 1st fork happened and I did receive the BCH but at that time bittrex had already announced that it will be supporting the fork. But there has been no announcement made yet from Bittrex whereas Yobit has said that they will be supporting the fork.
Really a tough decision as what to do.

Yobit already made an official announcement on their twitter account saying that they are ready for Bitcoin Gold. So I guess its not gonna be a difficult decision for most of us. Although Yobit has been shitty as of late, it was really a nice moved from them, and I think this news pushed the price of bitcoin to above $6000. This will attract of a lot of investors to put their bitcoin on Yobit and claim the free coins and then buy it with bitcoin or some altcoins then withdraw again your funds to your wallet because its really hard to put our stash on an exchanges specially Yobit.

nightrider

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Quote from: mitchr4 on October 19, 2017, 10:30:41 AM

I will keep it as long as the exchange support BTG in the upcoming forks and must be trusted exchange. But currently only Yobit i heard support BTG.

I do not think it is a wise decision, the fork is coming, but at present, the exchange of trust has not yet published any information about their actions. So, a hardware wallet is the only thing that can guarantee your interests.

crazycatwoman03

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Quote from: pisston on October 20, 2017, 02:16:33 PM

Quote from: miyong on October 20, 2017, 06:11:15 AM

Yes, i will keep my BTC on the exchange site for this upcoming hard fork. We've experienced this last August and I think there is nothing to worry about the hard fork.

Generally, the previous plug was this year on August 1. Have you forgotten? And it seems to me that keeping my bitcoins on the exchange site will be very dangerous, because it is better to keep everything in your wallet. If a double appears, it will be on your Bitcoin purse too.

Right, it is very dangerous to keep your coins in the exchanges this coming fork. It will be a high risk since there is a possibility that it will vanished from there when the site applied modification because of the fork. I will really put my coins into safety, in that way I would not worry if the fork happens. Many people are doing this too and it is highly recommended to me to put everything in safety before the day of the fork.

pisston

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Quote from: miyong on October 20, 2017, 06:11:15 AM

Yes, i will keep my BTC on the exchange site for this upcoming hard fork. We've experienced this last August and I think there is nothing to worry about the hard fork.

Generally, the previous plug was this year on August 1. Have you forgotten? And it seems to me that keeping my bitcoins on the exchange site will be very dangerous, because it is better to keep everything in your wallet. If a double appears, it will be on your Bitcoin purse too.

miyong

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Yes, i will keep my BTC on the exchange site for this upcoming hard fork. We've experienced this last August and I think there is nothing to worry about the hard fork.

RealPhotoshoper

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Quote from: mitchr4 on October 19, 2017, 10:30:41 AM

I will keep it as long as the exchange support BTG in the upcoming forks and must be trusted exchange. But currently only Yobit i heard support BTG.

That is reasonable enough , i did it in the last time fork and there's nothing to worry about it.
As long as they are trusted you can continue to trade there and get your BTG later , hopefully.
I don't recommend yobit as your primary exchange by the way , have bad experience with them.

giveen

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Quote from: mitchr4 on October 19, 2017, 10:30:41 AM

I will keep it as long as the exchange support BTG in the upcoming forks and must be trusted exchange. But currently only Yobit i heard support BTG.

Cex.io and unocoin ( a indian exchange) has told they will be crediting bitcoin gold if they list it on their exchange or not. Unocoin has said they will be crediting the coin which the mining community is going to support. Bittrex and poloniex will also credit it's users though no official announcements has been made till now.
Source : https://news.bitcoin.com/cex-io-and-unocoin-announce-fork-arrangements/

bitbunnny

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I haven't decided yet. Usualydon't keep coins on exchangers for safety reasons, or just very small amounts. I still don't know if my wallet is going to do something about Bitcoin gold and if I could get any so maybe in this case I would make exception and leave some amount on exchanger to get something to sell and quickly make some profit.

katrimans

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Quote from: tobs on October 17, 2017, 01:24:52 PM

Actually, last time during the 1st August fork, I've got some small part of bitcoin left on the exchanges and actually I really enjoyed the way they did it, as they have autmatically splited my coins and I was able to sell the fork ones immiediately, without having to worry about new wallets or slow transaction times. However, I wouldn't risk with holding any significant amount as it's always better to control your wallet the funds, but I don't complain about execution of the last fork.

Yes, some times fork can help you as the coins are split at the time but having a large amount of bitcoins in your wallet at the time of fork i a bit risky at the time because you will not able to sell it as its price will be very low and you will need to wait until the prices are normal and then sell them. A person can face problems when he needs urgent money at the time of fork, so one smart person should convert all his bitcoin before the forks and than again by coins when the prices are normal this will help him more but if one do not need urgent money than holding it at the time of forks is ok .

gabmen

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Quote from: Saoha on October 19, 2017, 09:51:03 PM

During time the August 1 I did not keep Bitcoin because of bad rumors about the future of Bitcoin, I kept altcoin and failed miserably.
Now maybe I will keep a bit of Bitcoin on Bittrex and wait for low altcoin to buy them for the rest. History can will not repeat !!!

LOL yeah me too. I prefer to also receive bitcoin gold so i probably would keep btc in my exchange wallet as there hasn't been any announcement from my hard wallet if i'm they'll have bitcoin gold. I'll keep still during this time

Shutup

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Quote from: hatshepsut93 on October 14, 2017, 06:03:27 AM

The common advice for a fork is to move your money away from any online wallet and store it safely in your own wallet. And this is in fact a really good advice, because it's always safer to store your coins by yourself. But after August 1st some people who followed this advice started making angry posts about how they regret listening to it because they missed on an opportunity to sell their BCH coins while the markets were closed for deposits for that coin. This showed that holding your money on exchange is a risk that also has a potential reward - immediate access to a closed market for a forked coin.

So, I'm curious to ask traders two things:

1. Did you hold your BTC on exchange on August 1st?
2. Are you going to hold on exchange during Bitcoin Gold fork and during SegWit2x fork?
[/quote

My job is 12hours a day and celphone is not allowed.So when l go home l just advertised bitcoin.I dont have time for now to search what is better.l dont have idea yet about online wallet or money changer.Maybe soon l will know about it.But about my experience on august before segwitl have my salary and the price is downfall.l dont have choice that time,l have to get my salary even its very very low prce.But after 2 weeks after segwit,that value of my salary multiplied into 10.l regret so much because l supposed to wait for the price increase before l will sell it.So thats a very big lesson to me.So by now l hope so l will sell my bitcoin after this fork.I'll just wait for price increase.

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