Does any exchange has bitcoin freeze function?

Klausi

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Quote from: crzy on January 31, 2019, 04:57:51 PM

Quote from: shield132 on January 29, 2019, 04:14:31 PM

Hello guys, is there any exchange that has bitcoin freeze function? I think that will be a great feature for those who are nervous in trading and sometimes because of price fall do shit movements. You would freeze as much coin as you want for a while which means you can't touch them nor trade and get them back once time will pass.

Never heard a feature like this on the cryptoexchanges but I think this is a good idea. It can help you to protect your money from the scammers or hackers especially if you are so busy and you forget to monitor your coins. Trading activities can also be one of the benefits of this feature but so far there is no exchanges who offer this services.

Hopefully there's an exchange that will function like that services, and if ever the implementation will become effective I guess it would brough up tight security no on our funds. For now setting google authentication is the ample strategy, while we still don't have that freeze function.

nydiacaskey01

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Quote from: shield132 on January 29, 2019, 04:14:31 PM

Hello guys, is there any exchange that has bitcoin freeze function? I think that will be a great feature for those who are nervous in trading and sometimes because of price fall do shit movements. You would freeze as much coin as you want for a while which means you can't touch them nor trade and get them back once time will pass.

Here in my country a local exchanger have a function of moving your funds to Peso and your funds will not be affected with the up and down price of Bitcoin. It also have a wallet address so you can deposit to it directly and if you send $100 it will arrive $100 and if BTC price goes down, it will remain $100. However moving your funds to that wallet from the regular BTC wallet will cost you.

leowonderful

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Quote from: crzy on January 31, 2019, 04:57:51 PM

Quote from: shield132 on January 29, 2019, 04:14:31 PM

Hello guys, is there any exchange that has bitcoin freeze function? I think that will be a great feature for those who are nervous in trading and sometimes because of price fall do shit movements. You would freeze as much coin as you want for a while which means you can't touch them nor trade and get them back once time will pass.

Never heard a feature like this on the cryptoexchanges but I think this is a good idea. It can help you to protect your money from the scammers or hackers especially if you are so busy and you forget to monitor your coins. Trading activities can also be one of the benefits of this feature but so far there is no exchanges who offer this services.

If you're trying to prevent your money from being stolen by scammers or hackers, cold storage or storage via a hardware wallet is a great option that doesn't require an exchange to add anything like a freeze function. Sure, a hardware wallet's a small investment, but a hardware wallet also provides security you just can't get from an exchange or any sort of online wallet service. There's a relatively low risk of an exchange you use getting hacked, but you should always be prepared for the worst case scenario. I would suggest only keeping as much money on an exchange as you need to trade and putting the rest into wallets with private keys you control.

crzy

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Quote from: shield132 on January 29, 2019, 04:14:31 PM

Hello guys, is there any exchange that has bitcoin freeze function? I think that will be a great feature for those who are nervous in trading and sometimes because of price fall do shit movements. You would freeze as much coin as you want for a while which means you can't touch them nor trade and get them back once time will pass.

Never heard a feature like this on the cryptoexchanges but I think this is a good idea. It can help you to protect your money from the scammers or hackers especially if you are so busy and you forget to monitor your coins. Trading activities can also be one of the benefits of this feature but so far there is no exchanges who offer this services.

shield132

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Quote from: BitMaxz on January 29, 2019, 04:47:25 PM

Never heard any exchanges that have this feature and I think there is no exchange that will add this function because more traders preferred to withdraw their coins than holding their coins on the exchange site. There are chances that the exchange site suddenly shut down without giving alert or notification to traders. So it is not a safe function if they have this feature.

If you want to hold your coins for a long time you need to train your self to not sell your coins in the bear market this is the only safe way compared to stay your coins too long on exchanges.

Or you can find a trusted friend who can hold your coins for a long time and let him know the date where you can get your coins back. This is just my suggestion for your coins safety.

Oh didn't consider that, you are correct, people prefer to withdraw money and don't leave it on exchange but still there are some people who somehow find hard to manage own offline wallet and store btc on exchanges.
If you ask friend for that, you know some people who can't control their actions well, maybe will require those stored money and if friend didn't give back, it will cause conflict and so on.
Well, I understand there isn't such function, I thought some of you knew any exchange that had it.

Oceat

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Did you mean like what Binance did to the stolen/ hacked cryptocurrency?

I think it is up to them if they want to freeze some of the account or transactions though it'd kinda rare to see such question about of freezing some transactions. They could be on the hot watchlist if there is any reported wallet address that has the hacker sent their Bitcoin.

As for your question, it is clearly a price manipulation that you want to happen. Huh

BitMaxz

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Never heard any exchanges that have this feature and I think there is no exchange that will add this function because more traders preferred to withdraw their coins than holding their coins on the exchange site. There are chances that the exchange site suddenly shut down without giving alert or notification to traders. So it is not a safe function if they have this feature.

If you want to hold your coins for a long time you need to train your self to not sell your coins in the bear market this is the only safe way compared to stay your coins too long on exchanges.

Or you can find a trusted friend who can hold your coins for a long time and let him know the date where you can get your coins back. This is just my suggestion for your coins safety.

tenakha

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Quote from: shield132 on January 29, 2019, 04:14:31 PM

Hello guys, is there any exchange that has bitcoin freeze function? I think that will be a great feature for those who are nervous in trading and sometimes because of price fall do shit movements. You would freeze as much coin as you want for a while which means you can't touch them nor trade and get them back once time will pass.

I have never seen or heard anything about freezing system. Why do not you send your money to the hardware wallet? Also the lifetime of this feature will continue until the money is stolen from the exchange. Moreover why do you want to use exchange wallet that private key is not your management? Well in this time interval if the price comes to the desired position? Huh

leowonderful

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Not that I know of. You could always try contacting the support of any exchange of your choice and ask them to lock your coins up with no option for release until a certain date and you might be able to work something like that out, but I don't think I've ever seen any sort of 'freeze' function on any major exchange. Interesting idea though.

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Quote from: shield132 on January 29, 2019, 04:14:31 PM

Hello guys, is there any exchange that has bitcoin freeze function? I think that will be a great feature for those who are nervous in trading and sometimes because of price fall do shit movements. You would freeze as much coin as you want for a while which means you can't touch them nor trade and get them back once time will pass.

Are you talking about function like Self-Restrictions in gambling? If so, I don't know any exchange of offering it maybe because they does not look at trading like a type of gambling. And it's even worst in most cases because you think you know what you are doing, but in reality you are just guessing the price direction. You will need to implement a self-control instead.

shield132

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Hello guys, is there any exchange that has bitcoin freeze function? I think that will be a great feature for those who are nervous in trading and sometimes because of price fall do shit movements. You would freeze as much coin as you want for a while which means you can't touch them nor trade and get them back once time will pass.

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