It seems like some new exchange' ICOs are designed exactly to address such concerns by keeping most of the funds in cold storage + insuring all funds in hot wallets, being regulated etc, here is a couple of key features from LCCX "About" section: https://lccx.io/#about_section - so they plan to use cold storages even to store most of the funds on their exchange itself:
> Keeping 60-75% of client funds safely offline in cold storage vaults
> Insuring clients online funds against hacks
Topic: BTC from cold storage directly to exchange? (Read 340 times)
I could not find any advantage in using any intermediate wallet before reaching exchange. But there are incontinence may occur like unnecessary tx fees and time delay for network confirmations.
If you want your hardware addys do not be exposed to your exchangers then you may use bitcoin mixing services to ensure your privacy rather than simply using another "stage wallet".
Well, I agree with what you're saying, I guess there shouldn't be any reason why I shouldn't use my cold storage wallet to transfer BTC directly to an exchange. I just wanted to ask here at the Trading Discussion section, just in case there's something I'm missing in terms of good/safe wallet usage practices.If you want your hardware addys do not be exposed to your exchangers then you may use bitcoin mixing services to ensure your privacy rather than simply using another "stage wallet".
Thanks for your reply.
I could not find any advantage in using any intermediate wallet before reaching exchange. But there are incontinence may occur like unnecessary tx fees and time delay for network confirmations.
If you want your hardware addys do not be exposed to your exchangers then you may use bitcoin mixing services to ensure your privacy rather than simply using another "stage wallet".
If you want your hardware addys do not be exposed to your exchangers then you may use bitcoin mixing services to ensure your privacy rather than simply using another "stage wallet".
Hello,
This may be a stupid question... If I ever need to sell some of my BTC via an exchange, should I transfer the BTC to the exchange directly from my h/w wallet (cold storage), or should I first transfer them to another wallet (e.g., my phone wallet), and then from there to the exchange?
What do you guys suggest? Are there any privacy, security or other issues with direct BTC transfers from cold storage to an exchange? Are there any advantages to using another wallet between my cold storage and the exchange?
Many thanks!
This may be a stupid question... If I ever need to sell some of my BTC via an exchange, should I transfer the BTC to the exchange directly from my h/w wallet (cold storage), or should I first transfer them to another wallet (e.g., my phone wallet), and then from there to the exchange?
What do you guys suggest? Are there any privacy, security or other issues with direct BTC transfers from cold storage to an exchange? Are there any advantages to using another wallet between my cold storage and the exchange?
Many thanks!
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