You should never trust anyone but yourself to look after your BTC.
Although a lot of people use exchanges daily i wouldn't recomend keeping any amount of btc there for too long, just look at the history bitcoin exchanges have with hacks and others that just run off with everybodys cash.
Bitstamp got hacked to the tune of about 5million of btc a few months back, they did the right thing though and paid everybody back, i think everybody.
Long story short, only keep what you can afford to loose on any exchange.
Topic: Can I trust BTC exchanges? - page 16. (Read 21764 times)
If they have a good reputation then yes you can trust them to trade. But you have to remember they hold a lot of btc so they are targets.
I personally would use cold storage not a exchange for long term holding. Many good exchanges have lost money from security flaws.
I personally would use cold storage not a exchange for long term holding. Many good exchanges have lost money from security flaws.
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? 
Depends on which exchange you are using. I generally do not trust exchanges. They can be hacked at any time. Your money is not safe there. Do small trades and withdraw all your cryptos to your own wallet as often as possible.
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!
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