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Topic: Can I trust BTC exchanges? - page 4. (Read 21764 times)

hero member
Activity: 504
Merit: 500
October 12, 2015, 11:00:34 AM
I think we've mostly past the worst of the exchange problems akin to mt.gox. The remaining exchanges have a certain level of competitive edge seeing as they are the ones that survived the onslaught.

Early technology much like the internet itself is full of risks and pirates everywhere, but eventually things will improve for the better.

The security is the main part of every new exchange.
It is the most sensitive part and we have seen many hacks that have been made these past few years.
I also don't trust much the current exchange, but i leave on them a small amount to trade in alt coins.

I also have very small amount of bitcoin in more than two exchanges. I do not want to rely on a single exchange as I'm aware of the old popular exchange stories. So, it will some what secure of bitcoins if we have accounts in more than one change and having our bitcoins split ted across many exchanges.

I think that it is a good idea to have your bitcoin spreadable in many exchanges.
But not in every exchange, personally i have only in 2-3 exchanges and until now it is good except bter which got hacked.
And my funds are still not refilled, in generally you should ask first in which exchange should we use then research yourself.
hero member
Activity: 798
Merit: 1000
Move On !!!!!!
October 12, 2015, 02:19:00 AM
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!

Not every BTC exchange is already trusted, there is only few exchangers are known here like Yobit, Bit-X, Coinbase..this are trusted and have many positive feedbacks from people, so we can use them for exchange between currencies and Bitcoin

To add to that list i would add also poloniex,
For now it is trusted enough and has good volume of alt coins.
If you have ever heard about bter then stay away from it as people are having issue withdrawing their bitcoins.

Yes, I second your vote for Poloniex. That's definitely one robust exchange. They got into trouble once before when they got hacked. About 12% of their coins have been taken which they deducted from their customer balances and they have repaid every penny in the near future. Since then, they had no problems whatsoever.

Just the way how they solved their previous hack crisis gives me a lot of confidence and trust into them. I would recommend them to anybody. The best altcoin exchange out there.

When happened the last poloniex hack? I consider my self as a new user when i heard this from you.
Since they repaid all of the lost funds then this gives extra trust to them.
Unfortunately bter exchange was hacked in February this year and still they haven't paid their users
Until now they have paid their users only 9.76% of the total bitcoins stolen.

Yes, it was a while ago. 18 months ago. That's an eternity in crypto world. But they have handled it right and 99.9% thus wasn't an inside job, unlike the BTER which was 99.9% an inside job.

Here is an article, you can find many more if you just Google it.

http://www.coindesk.com/poloniex-loses-12-3-bitcoins-latest-bitcoin-exchange-hack/
hero member
Activity: 994
Merit: 500
October 11, 2015, 05:26:22 PM
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!

Not every BTC exchange is already trusted, there is only few exchangers are known here like Yobit, Bit-X, Coinbase..this are trusted and have many positive feedbacks from people, so we can use them for exchange between currencies and Bitcoin

To add to that list i would add also poloniex,
For now it is trusted enough and has good volume of alt coins.
If you have ever heard about bter then stay away from it as people are having issue withdrawing their bitcoins.

Yes, I second your vote for Poloniex. That's definitely one robust exchange. They got into trouble once before when they got hacked. About 12% of their coins have been taken which they deducted from their customer balances and they have repaid every penny in the near future. Since then, they had no problems whatsoever.

Just the way how they solved their previous hack crisis gives me a lot of confidence and trust into them. I would recommend them to anybody. The best altcoin exchange out there.

When happened the last poloniex hack? I consider my self as a new user when i heard this from you.
Since they repaid all of the lost funds then this gives extra trust to them.
Unfortunately bter exchange was hacked in February this year and still they haven't paid their users
Until now they have paid their users only 9.76% of the total bitcoins stolen.
hero member
Activity: 798
Merit: 1000
Move On !!!!!!
October 11, 2015, 05:00:10 PM
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!

Not every BTC exchange is already trusted, there is only few exchangers are known here like Yobit, Bit-X, Coinbase..this are trusted and have many positive feedbacks from people, so we can use them for exchange between currencies and Bitcoin

To add to that list i would add also poloniex,
For now it is trusted enough and has good volume of alt coins.
If you have ever heard about bter then stay away from it as people are having issue withdrawing their bitcoins.

Yes, I second your vote for Poloniex. That's definitely one robust exchange. They got into trouble once before when they got hacked. About 12% of their coins have been taken which they deducted from their customer balances and they have repaid every penny in the near future. Since then, they had no problems whatsoever.

Just the way how they solved their previous hack crisis gives me a lot of confidence and trust into them. I would recommend them to anybody. The best altcoin exchange out there.
legendary
Activity: 2632
Merit: 1094
October 11, 2015, 03:09:37 PM
I only trade on highly trusted exchange websites rather than those that have good reviews as mostly are fake ones. Localbitcoins is one good website and VirWox is the other one that are safe to trade on but the fees are definitely high. If not these websites, for other currencies I choose the ones recommended by the Payment Processors like Payza has its own exchange website and Perfect Money as well has its own exchange website wherein they charge 2% fee on transactions involving bitcoins. It takes time to get the bitcoins exchange but still it's worth the trust.
hero member
Activity: 994
Merit: 500
October 11, 2015, 02:39:44 PM
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!

Not every BTC exchange is already trusted, there is only few exchangers are known here like Yobit, Bit-X, Coinbase..this are trusted and have many positive feedbacks from people, so we can use them for exchange between currencies and Bitcoin

To add to that list i would add also poloniex,
For now it is trusted enough and has good volume of alt coins.
If you have ever heard about bter then stay away from it as people are having issue withdrawing their bitcoins.
hero member
Activity: 742
Merit: 500
October 11, 2015, 01:11:54 PM
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!

Not every BTC exchange is already trusted, there is only few exchangers are known here like Yobit, Bit-X, Coinbase..this are trusted and have many positive feedbacks from people, so we can use them for exchange between currencies and Bitcoin
hero member
Activity: 994
Merit: 500
October 10, 2015, 02:18:50 PM
I store some of my coins in exchanges together with my alt coins. I know it's kinda risky but the coins I have there is not really that huge that I can still sleep like a baby if ever that exchange site got hacked (I hope not). It's easy to look at how many coins you have together with some alt coins that I'm collecting.

I use the same method, i have mostly my altcoins in exchange(s)
But i am just waiting the price to raise a bit because most of the alt coins price has been decreased as  the bitcoin price has been increased a bit lately.
I don't store there a big amount because the security is the main thing to trust an exchange.
legendary
Activity: 1708
Merit: 1006
October 10, 2015, 01:12:14 PM
I store some of my coins in exchanges together with my alt coins. I know it's kinda risky but the coins I have there is not really that huge that I can still sleep like a baby if ever that exchange site got hacked (I hope not). It's easy to look at how many coins you have together with some alt coins that I'm collecting.
hero member
Activity: 770
Merit: 500
✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪
October 10, 2015, 12:19:12 PM
It is true that exchanges may get hacked, but it is a hassle to keep 50 wallets. I think that if you use many altcoins an do not have great amounts of money (2 Btc or less perhaps) it might be better to trust some exchange than to have the pain of cold storaging and having so many wallets and backups.
hero member
Activity: 994
Merit: 500
October 10, 2015, 09:13:19 AM
If you check the history of the bitcoin exchangers you will be shocked.
In the past few years there had been many hacks that a lot of users were affected.
Personally i lost few btc in exchange by trusting them to exchange alt coin to bitcoin.

most people know that exchanges have been hacked but there isn't a better alternative for current exchanges at the moment. don't think gemini exchange will change that.

I know that it is any other alternative, but at least using the most popular and trusted exchanges.
Nowadays i use only few exchanges like yobit and poloniex, rare cryptsy.
Poloniex has good volume of the coin that i trade and yobit has most new alt coins.
legendary
Activity: 1176
Merit: 1024
October 10, 2015, 07:14:51 AM
If you check the history of the bitcoin exchangers you will be shocked.
In the past few years there had been many hacks that a lot of users were affected.
Personally i lost few btc in exchange by trusting them to exchange alt coin to bitcoin.

most people know that exchanges have been hacked but there isn't a better alternative for current exchanges at the moment. don't think gemini exchange will change that.

No. Gemini exchange has all the new and latest technically sound protections. But we do not know how strong a new hacker comes against it. Keeping only needed fund in exchange is most advisable.
legendary
Activity: 896
Merit: 1000
October 09, 2015, 01:38:23 PM
If you check the history of the bitcoin exchangers you will be shocked.
In the past few years there had been many hacks that a lot of users were affected.
Personally i lost few btc in exchange by trusting them to exchange alt coin to bitcoin.

most people know that exchanges have been hacked but there isn't a better alternative for current exchanges at the moment. don't think gemini exchange will change that.
legendary
Activity: 1638
Merit: 1046
October 09, 2015, 12:41:18 PM
Some of exchanges sites can be trust, make sure that exchanger site is high trust score you check it in scamadviser.com or you can check here with trust score https://perfectmoney.is/business-partners.html
im sure you will not scam if you think first before you do...
hero member
Activity: 994
Merit: 500
October 09, 2015, 10:17:23 AM
If you check the history of the bitcoin exchangers you will be shocked.
In the past few years there had been many hacks that a lot of users were affected.
Personally i lost few btc in exchange by trusting them to exchange alt coin to bitcoin.

yeahh iknow some of that : the biggest scamer "mintpal" , also swisscex, and Biggest Bitcoin exchanger Mt.Gox
im not trust 100% at exchanger because i never hold long time my bitcoin/altcoin at exchanger, i use PC wallet (altcoin) and mycellium wallet (for bitcoin)

It's not all about how long do you keep your bitcoin to an exchange, but if you trust them or not.
In my case it happen in few hours, withdrawed all the earning and sent to the exchanger to exchange into bitcoins.
After few hours the website went down, and after few days i saw in google news that the site has been "hacked" and the bitcoin were stolen from the "cold" wallet. - this was bter.
sr. member
Activity: 364
Merit: 250
October 09, 2015, 10:12:06 AM
If you check the history of the bitcoin exchangers you will be shocked.
In the past few years there had been many hacks that a lot of users were affected.
Personally i lost few btc in exchange by trusting them to exchange alt coin to bitcoin.

yeahh iknow some of that : the biggest scamer "mintpal" , also swisscex, and Biggest Bitcoin exchanger Mt.Gox
im not trust 100% at exchanger because i never hold long time my bitcoin/altcoin at exchanger, i use PC wallet (altcoin) and mycellium wallet (for bitcoin)
hero member
Activity: 994
Merit: 500
October 09, 2015, 10:05:55 AM
If you check the history of the bitcoin exchangers you will be shocked.
In the past few years there had been many hacks that a lot of users were affected.
Personally i lost few btc in exchange by trusting them to exchange alt coin to bitcoin.
sr. member
Activity: 364
Merit: 250
October 09, 2015, 10:01:16 AM
if you not trust exchanger, so how to buy and sell your bitcoin ?

and who will determine the price of bitcoin?

Not everybody use exchanges. There are a lot of Bitcoin trading in OTC.
In exchanges speculators determine the price of Bitcoin, but you don't have to follow their prices. Exhanges are highly manipulative. Yo can see different prices in each exchanges.

yeahh i can see different prices in each exchanges.
but no more than 50% and diffirent price still within reasonable limits
hero member
Activity: 504
Merit: 500
October 09, 2015, 09:41:52 AM
Nowadays you can trust them. Bitstamp got hacked and the customers funds were all secured. Today, the industry is settling and giving back confidence to the users. The bitcoin trading industry is a highly competitive industry and the leading exchanges are trying to offer an excellence service.
newbie
Activity: 13
Merit: 0
October 08, 2015, 05:18:40 PM
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