BITCOIN TRADING: IS IT SAFE? | Bitcointalksearch.org

whirlcoin

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Quote from: simofreesimo on December 15, 2017, 07:56:24 AM

It is risky like any other investment. Maybe even more risky because its price is very volatile.

However, if you mean that someone can hake bitcoin exchange with your bitcoins and steal them, then it is also possible with the bank account, isn’t it?

Bitcoin trading is not totally safe, but that doesn’t mean it is not worth to try it. What you think?

Of course bitcoin investment is risky because no one knows when the price of bitcoin rise or fall.But bitcoin is a good coin for day trading because a coin with good price volatility is a good choice.
yeah there is chance of your exchange gets hacked so you always keep your storing in cold storage and store small amount it exchange wallet.
Bitcoin trading is not totally safe but doesn't mean that it wil notl give profits for you,we need to take some.risks if we want to earn money.

paparadis

newbie

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No, it is not. Do not do that!

lizardbtc

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Quote from: simofreesimo on December 15, 2017, 07:56:24 AM

It is risky like any other investment. Maybe even more risky because its price is very volatile.

However, if you mean that someone can hake bitcoin exchange with your bitcoins and steal them, then it is also possible with the bank account, isn’t it?

Bitcoin trading is not totally safe, but that doesn’t mean it is not worth to try it. What you think?

If we look that there are many centralized exchanges then yes its not the safest place to be, but you need to go through 3rd parties to achive what you want: to sell or to buy bitcoin or other coins. It is worth trading if you have the nerves for it, I had done it in the past and for me personally its heavy game you wake up in the middle of the night to check prices lol. But if you have patience and if you don't follow up with your emotions I say it is worth trying since you can gain really well but also can lose.

Above all there are some decentralized solutions for trading that are being developed, if they really offer us the decentralized way of trading then we can say that exchanges could be safer but problem with local computer being hijacked is another problem for itself, it is a problem with software based wallets that we are facing today anyway.

BillCoin

sr. member

Activity: 476

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It is much more risky then any other investments.

Some people who comes from the stock market, usually can't even believe to the amount of volatility that is surrounding on the crypto market.
Investing at bitcoin is counted to be a VERY HIGH RISK investment, while investing at altcoins is even more riskier.

It is very hard to predict, and if you don't know what you are doing and you are not an experienced trader, then for you, trading altcoins will be the same as gambling at the roulette.

troiano9

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buy bitcoin on coinbase if you want to be safe and move it to a wallet and hold your own private keys. Very simple.

klebsiella

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Trading/investing is always risky, always a gamble so be sure not to invest more than you think you can and willing to loose. Constant update is essential, so to know when to buy and when to sell your bitcoin. Knowledge and practice is important for a bitcoin trading to be successful.

anindo

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Quote from: vejdemann on December 15, 2017, 08:47:57 AM

I'm absolutely agree with this person. I trade alcoins and collect bitcoins and ethereum. The last both coins I'll only change into fiat when the time will come.

I do the same. And I think that in the situation that develops, this is the best scenario for the behavior of the crypto currency market.

Endikadija

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Quote from: simofreesimo on December 15, 2017, 07:56:24 AM

It is risky like any other investment. Maybe even more risky because its price is very volatile.

However, if you mean that someone can hake bitcoin exchange with your bitcoins and steal them, then it is also possible with the bank account, isn’t it?

Bitcoin trading is not totally safe, but that doesn’t mean it is not worth to try it. What you think?

Bitcoin as the number one in the crypto and I wouldn't be surprised about it. About the hacked problem of the exchange site and it still becomes a big question. Some people said that just like a manipulation. And another people said that pure a criminal case by hackers. Every investment place has its own risk potential and that can't be blamed. But if you are not having a lot of experience in bitcoin trade and just not do to it.

gilangIDR

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Quote from: simofreesimo on December 15, 2017, 07:56:24 AM

It is risky like any other investment. Maybe even more risky because its price is very volatile.

However, if you mean that someone can hake bitcoin exchange with your bitcoins and steal them, then it is also possible with the bank account, isn’t it?

Bitcoin trading is not totally safe, but that doesn’t mean it is not worth to try it. What you think?

I will choose a legal way to earn an income. I think trading is a pretty risky thing, but when we can choose the right decision then I'm sure we can avoid that risk. This is an option because I am sure every job must have risks. Bitcoin is one way to earn income, trading is one of the best ways I can do.

cryptolerant

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Quote from: vejdemann on December 15, 2017, 08:47:57 AM

I'm absolutely agree with this person. I trade alcoins and collect bitcoins and ethereum. The last both coins I'll only change into fiat when the time will come.

I do the same. I make money with fiat currencies and buy even more ether and btc. Eventually they increase faster and more reliably comparing to alt coins which can go to zero easily.

myhoho

legendary

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Forex trading has more risks if you are using more then 50x leverage. All your balance will gone. But in Crypto Trading its more safe cause you always have your coins in your wallet
ps.Never use margin trading in crypto trading.

hheight

full member

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No one can guarantee you complete security. Besides stealing, the trading exchange may suddenly close with your assets.
As already mentioned above, actively trading BTC isn't a great idea. Buy and hold! Don't use web wallets and store private keys offline for maximum security.

tiggytomb

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Quote from: simofreesimo on December 15, 2017, 07:56:24 AM

It is risky like any other investment. Maybe even more risky because its price is very volatile.

However, if you mean that someone can hake bitcoin exchange with your bitcoins and steal them, then it is also possible with the bank account, isn’t it?

Bitcoin trading is not totally safe, but that doesn’t mean it is not worth to try it. What you think?

The price can have rather large swings but that is the nature of Crypto.

I think safety wise it is no different to somebody storing their money in a bank, if a bank gets hacked and the exchande gets hacked the result is the same, people lose money although the bank might be able to give your money back but as we have seen some exchanges if they get hacked this is never as easy.

You are trusting an exchange to look after your bitcoin and take security seriously,

I think that everyone that has bitcoin should at the least have a local wallet so they own thei keys and their bitcoin or a hardware wallet like Trezor.

If you take precautions you can reduce your risk of losing your bitcoin so I would say go ahead and jump ito the bitcoin world, just be smart.

cryptocrocs

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In this world of cruelty the more risk you take the more rewards you can get,i am using bitfinex for my margin trading my money can be x50 in a day but it can rekt me in just one wrong move.

Jafri101

sr. member

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The better is to hold bitcoins rather then trading because its highly volatile.. plus the fees these days are quite high. Also due to huge amount of transactions the core network is bit slow. so you might not get much profit in trading.

vejdemann

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I'm absolutely agree with this person. I trade alcoins and collect bitcoins and ethereum. The last both coins I'll only change into fiat when the time will come.

btcjoin14

hero member

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Quote from: kueyen on December 15, 2017, 08:44:21 AM

The question of safety aside, how much sense does it make to trade bitcoins? The transaction speeds are slow and the fees are high, so you can't buy and sell very quickly, if you want to. In that respect, I think it is better to trade alts and keep bitcoin as a long term investment.

Although they are two different things, one has an in real life demand compared to the other.
You usually can't use Altcoins in your towns store.

kueyen

member

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The question of safety aside, how much sense does it make to trade bitcoins? The transaction speeds are slow and the fees are high, so you can't buy and sell very quickly, if you want to. In that respect, I think it is better to trade alts and keep bitcoin as a long term investment.

simofreesimo

newbie

Activity: 19

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It is risky like any other investment. Maybe even more risky because its price is very volatile.

However, if you mean that someone can hake bitcoin exchange with your bitcoins and steal them, then it is also possible with the bank account, isn’t it?

Bitcoin trading is not totally safe, but that doesn’t mean it is not worth to try it. What you think?

Topic: BITCOIN TRADING: IS IT SAFE? (Read 176 times)