Well you can but it depends on the reputation of the site
Personally I store my btc on a local exchange site, I trust them cuz I've visited once their company
Topic: Can I trust BTC exchanges? - page 12. (Read 21741 times)
you cannot trust any centralized exchange. fortunately, some are working on the centralized part. https://bitshares.org/blog/2015/06/16/danish-firm-set-to-revolutionize-cryptocurrency-industry/ Exchange CCEDK for example, they will move to a decentralized model soon
As far as i am concerned i park my funds in 4 exchanges n till date i find it safe..
Polo, bittrex, yobit & C-cex.. i have joined Empo Ex today n hoping for a good ride there too
Polo, bittrex, yobit & C-cex.. i have joined Empo Ex today n hoping for a good ride there too
If I were you, I would never put even satoshis in my account with any reason.
Just trade, redeem and let your coins sit in your account instead of fearing to lose them all at once, as many exchanges got hacked so never trust them to store your coins there.
Just trade, redeem and let your coins sit in your account instead of fearing to lose them all at once, as many exchanges got hacked so never trust them to store your coins there.
I do trust some of them to a certain extent, like poloniex and bittrex
Howdy,
I've been using one for a couple months now and it's given no reason to mistrust it. But it seems weird to me sending my money to an intermediary that's neither a wallet nor a bank and is entirely online. Feels like the money is hanging out in some nowhere zone that isn't completely under my control...
Dies any one else feel this way or do I just not understand this stuff well enough yet?
Thanks!
I've been using one for a couple months now and it's given no reason to mistrust it. But it seems weird to me sending my money to an intermediary that's neither a wallet nor a bank and is entirely online. Feels like the money is hanging out in some nowhere zone that isn't completely under my control...
Dies any one else feel this way or do I just not understand this stuff well enough yet?
Thanks!
You're right. The money that are not in your wallet (whatever they are) are not under your control. But the exchanges are necessary to fulfill your needs. Without those your money maybe cannot be used. So the question is not if we need to use those but how we will use those. My advice is to leave the money on those as less as possible. There are exchanges that gives profits to leave money on those. But I will not suggest this. Do the change and take your money. then another way the same thing when you will have need.
Agree in full with this. I can give an example about this suggestion. Time ago I made change at bter. Changed dogecoin with bitcoin. In those times I mine dogecoin with a cloud mining and had big profits in dogecoin everyday. So I changed dogecoin in bitcoin everyday. Bter gave (I don't know now) profits if you leave coins in its site. I never did this. One day bter was hacked. What happened to my coins if I would leaved those at the bter account? The answer is simple. Buy, buy coins....
Howdy,
I've been using one for a couple months now and it's given no reason to mistrust it. But it seems weird to me sending my money to an intermediary that's neither a wallet nor a bank and is entirely online. Feels like the money is hanging out in some nowhere zone that isn't completely under my control...
Dies any one else feel this way or do I just not understand this stuff well enough yet?
Thanks!
I've been using one for a couple months now and it's given no reason to mistrust it. But it seems weird to me sending my money to an intermediary that's neither a wallet nor a bank and is entirely online. Feels like the money is hanging out in some nowhere zone that isn't completely under my control...
Dies any one else feel this way or do I just not understand this stuff well enough yet?
Thanks!
You're right. The money that are not in your wallet (whatever they are) are not under your control. But the exchanges are necessary to fulfill your needs. Without those your money maybe cannot be used. So the question is not if we need to use those but how we will use those. My advice is to leave the money on those as less as possible. There are exchanges that gives profits to leave money on those. But I will not suggest this. Do the change and take your money. then another way the same thing when you will have need.
Just buy and sell on good exchanges. I have tried coinomat, and it is really simple and safe, you can get there by my signature.
My advise is that you shouldn't
look what happened with mtgox, it was the biggest and many people lost their bitcoins, I have lost in exchanges too
So, just avoid having big amounts in exchanges unless it is necessary
look what happened with mtgox, it was the biggest and many people lost their bitcoins, I have lost in exchanges too
So, just avoid having big amounts in exchanges unless it is necessary
Look, if you don't own your private keys, you don't own your money(BTCs). So use the exchanges only for the trades and then get you money out of there. Trust me, many have gone down. And 2 times I was couple of hours from losing my money on the exchanges, the last time this was with BTER, when I withdrew an evening before they apparently got hacked.
Just use the exchange for trading if you need it or if you have a good time to buy or to sell..after you do the transaction then send your btc to your own wallet not save in the excange it is not secure ( In My Opinion )
I mention this two posts up
. Use a secure wallet. Don't use a exchange as a place to hold BTC as a general rule.if you want to acquire bitcoin, you need to trust someone, either exchanges or the people you will the coins from.
and exchanges are the only option if you want to trade
and exchanges are the only option if you want to trade
There are other options such as using other people like localbitcoin. But I like exchanges it is safer and lower costs in my mind. That is assuming you use a good exchange.
Don't keep your BTC on the exchange though. Move it to a address you control after you get it, this prevents many problems.
Just use the exchange for trading if you need it or if you have a good time to buy or to sell..after you do the transaction then send your btc to your own wallet not save in the excange it is not secure ( In My Opinion )
if you want to acquire bitcoin, you need to trust someone, either exchanges or the people you will the coins from.
and exchanges are the only option if you want to trade
and exchanges are the only option if you want to trade
There are other options such as using other people like localbitcoin. But I like exchanges it is safer and lower costs in my mind. That is assuming you use a good exchange.
Don't keep your BTC on the exchange though. Move it to a address you control after you get it, this prevents many problems.
If you use localbitcoins you have to trust that the other part won't rob you or double spend or try to scam you
if you want to acquire bitcoin, you need to trust someone, either exchanges or the people you will the coins from.
and exchanges are the only option if you want to trade
and exchanges are the only option if you want to trade
There are other options such as using other people like localbitcoin. But I like exchanges it is safer and lower costs in my mind. That is assuming you use a good exchange.
Don't keep your BTC on the exchange though. Move it to a address you control after you get it, this prevents many problems.
if you want to acquire bitcoin, you need to trust someone, either exchanges or the people you will the coins from.
and exchanges are the only option if you want to trade
and exchanges are the only option if you want to trade
Where are you from ? I thing every country which has a base of people who are interested in bitcoin has few trusty exchanges. Just find them on bitcoin-talk by refferences.
Howdy,
I've been using one for a couple months now and it's given no reason to mistrust it. But it seems weird to me sending my money to an intermediary that's neither a wallet nor a bank and is entirely online. Feels like the money is hanging out in some nowhere zone that isn't completely under my control...
Dies any one else feel this way or do I just not understand this stuff well enough yet?
Thanks!
I've been using one for a couple months now and it's given no reason to mistrust it. But it seems weird to me sending my money to an intermediary that's neither a wallet nor a bank and is entirely online. Feels like the money is hanging out in some nowhere zone that isn't completely under my control...
Dies any one else feel this way or do I just not understand this stuff well enough yet?
Thanks!
never never trust on anything out of your safe wallet, i mean, everything out of your wallet is insecure, hell, even if this is on your wallet will never be 100% secure
im not saying to dont use his services, but just be carefully with it and never have lot of your money on them, you know...
Use the exchanges to convert/buy coin. But use a safe wallet for sure something like a cold wallet.
A exchange even the best could possibly one day be hacked worst case they loss a lot of btc, you don't want to be one of those who lose. Only trust your own cold storage.
Howdy,
I've been using one for a couple months now and it's given no reason to mistrust it. But it seems weird to me sending my money to an intermediary that's neither a wallet nor a bank and is entirely online. Feels like the money is hanging out in some nowhere zone that isn't completely under my control...
Dies any one else feel this way or do I just not understand this stuff well enough yet?
Thanks!
I've been using one for a couple months now and it's given no reason to mistrust it. But it seems weird to me sending my money to an intermediary that's neither a wallet nor a bank and is entirely online. Feels like the money is hanging out in some nowhere zone that isn't completely under my control...
Dies any one else feel this way or do I just not understand this stuff well enough yet?
Thanks!
never never trust on anything out of your safe wallet, i mean, everything out of your wallet is insecure, hell, even if this is on your wallet will never be 100% secure
im not saying to dont use his services, but just be carefully with it and never have lot of your money on them, you know...
Howdy,
I've been using one for a couple months now and it's given no reason to mistrust it. But it seems weird to me sending my money to an intermediary that's neither a wallet nor a bank and is entirely online. Feels like the money is hanging out in some nowhere zone that isn't completely under my control...
Dies any one else feel this way or do I just not understand this stuff well enough yet?
Thanks!
I've been using one for a couple months now and it's given no reason to mistrust it. But it seems weird to me sending my money to an intermediary that's neither a wallet nor a bank and is entirely online. Feels like the money is hanging out in some nowhere zone that isn't completely under my control...
Dies any one else feel this way or do I just not understand this stuff well enough yet?
Thanks!
You feel like the money is hanging out in some nowhere zone because it is
Never leave you bitcoin on exchanges for longer than you need to it is not safe to not control your own bitcoin there is a saying if you don't control the private key you don't own bitcoin and that is true. Any minute they could up and leave and what could you do? but anyways. there is no other way to exchange coins, except of if you friends r not holding any of it and won't help you with exchange. x) but still. M28MmickT is right xD
Do you have other choice, if you want to trade in the exchange, you have to trust it temporary, may be in the near future, the decentralized exchange will not need your trust.
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