When you deposit coins onto an exchange, they essentially become the property of the exchange, and you will be issued an IOU for said coins. If an exchange gets hacked and the coins from your specific deposit address are stolen, the exchange will either eat the loss themselves, or will spread the loss across all of their customers.
After you deposit coins to an exchange, the exchange may use some or all of those coins to process an already-existing withdrawal request, or a withdrawal request they receive in the near future. Depending on the circumstances, your deposit may never see the light of the exchange's cold storage.
If circumstances warrant, ideally, the exchanges hot wallet software will automatically make deposits to their cold storage address(es) as they are needed on an ad-hoc basis.
Topic: How long does it take Bitstamp to move new coins to cold storage? (Read 322 times)
November 25, 2017, 06:41:56 AM
and i repeat again- when bitstamp was hacked, there are people around who experienced it and might have this information... If anyone came across this, please share it.
November 20, 2017, 08:34:52 AM
Hello
How long does it take Bitstamp exchange to move newly arrived bitcoins (from its customers) to cold storage...? Does anybody has any idea?
Im askign because i want my coins to be secured and coins in cold storage on any exchange IS (ARE) more secured than the ones in HOT wallets (ready for immidiate withdrawl...).
And i know it takes some timeframe before the coins are added to cold storage on bitstamp (or any exchange). The one time (only one?) bistamp was hacked, the coins in the cold storage were safe... only the coins deposited "lately" (e.g. i assume coins in hot wallets on exchange) were at risk and partially stolen (AFAIK).
So does anybody have any idea how long does it take before Bitstamp moves newly arrived coins to its cold storage? 1 hour? 6 hours, 12 hours, 1 day...?
(thank you)
How long does it take Bitstamp exchange to move newly arrived bitcoins (from its customers) to cold storage...? Does anybody has any idea?
Im askign because i want my coins to be secured and coins in cold storage on any exchange IS (ARE) more secured than the ones in HOT wallets (ready for immidiate withdrawl...).
And i know it takes some timeframe before the coins are added to cold storage on bitstamp (or any exchange). The one time (only one?) bistamp was hacked, the coins in the cold storage were safe... only the coins deposited "lately" (e.g. i assume coins in hot wallets on exchange) were at risk and partially stolen (AFAIK).
So does anybody have any idea how long does it take before Bitstamp moves newly arrived coins to its cold storage? 1 hour? 6 hours, 12 hours, 1 day...?
(thank you)
There is no way you are going to have access to that kind of information and if anybody tells you he knows, its fake as the only source of that would be a top level guy in that exchange site not even the moderators or staff because that to me is a top secret information that would not only be kept, but guided. The moment that has been exposed, it then mean an attack is imminent when you know when fund go in, you obviously know when it comes out. That won't happen.
Why are you even bothered as to when they are moving it, what should be your concern is if its safe there? The moment they can guarantee that, I don't think there is need to bother yourself again. If you want your coin to be in hot wallet or cold storage, you had better keep it on your own where you control the key yourself and back it up. That would give you what you seek.
wrong... there was a hack in bitstamp and as far as i remember only the "hot" (thay called it "operational") wallet was/were compromised... the cold were safe.
Why am i asking? Because i want to know during which timeframe should i worry the most and "keep an eye on it" and after which time i can be more assured (since when its in cold wallets i believe its much harder for hacker to obtain those)... For example can i relax 1 hour after sending my coins to an exchange (after they are credited) or after a day?
It seems like a reasonable question, and someone that watched the hack of bitstamp back in the day more closely would know.
I understand the need for you to get answers to this but what I am saying is that even though its a reasonable question to ask, I dont see any reasonable answer being provided to it. Its just like asking the bank branch since you are depositing in your savings account, what time do they move money to their vault? You will agree with me that answer to that question will not be gotten no matter how you paint and justify the reason why you want to know.
Like I said earlier, questions like this are kept top secret as the moving of funds into the cold storage could be done either once in a day, or several times in a day but the exact time is not something I see them sharing to the public.
November 20, 2017, 05:59:46 AM
Hello
How long does it take Bitstamp exchange to move newly arrived bitcoins (from its customers) to cold storage...? Does anybody has any idea?
Im askign because i want my coins to be secured and coins in cold storage on any exchange IS (ARE) more secured than the ones in HOT wallets (ready for immidiate withdrawl...).
And i know it takes some timeframe before the coins are added to cold storage on bitstamp (or any exchange). The one time (only one?) bistamp was hacked, the coins in the cold storage were safe... only the coins deposited "lately" (e.g. i assume coins in hot wallets on exchange) were at risk and partially stolen (AFAIK).
So does anybody have any idea how long does it take before Bitstamp moves newly arrived coins to its cold storage? 1 hour? 6 hours, 12 hours, 1 day...?
(thank you)
How long does it take Bitstamp exchange to move newly arrived bitcoins (from its customers) to cold storage...? Does anybody has any idea?
Im askign because i want my coins to be secured and coins in cold storage on any exchange IS (ARE) more secured than the ones in HOT wallets (ready for immidiate withdrawl...).
And i know it takes some timeframe before the coins are added to cold storage on bitstamp (or any exchange). The one time (only one?) bistamp was hacked, the coins in the cold storage were safe... only the coins deposited "lately" (e.g. i assume coins in hot wallets on exchange) were at risk and partially stolen (AFAIK).
So does anybody have any idea how long does it take before Bitstamp moves newly arrived coins to its cold storage? 1 hour? 6 hours, 12 hours, 1 day...?
(thank you)
There is no way you are going to have access to that kind of information and if anybody tells you he knows, its fake as the only source of that would be a top level guy in that exchange site not even the moderators or staff because that to me is a top secret information that would not only be kept, but guided. The moment that has been exposed, it then mean an attack is imminent when you know when fund go in, you obviously know when it comes out. That won't happen.
Why are you even bothered as to when they are moving it, what should be your concern is if its safe there? The moment they can guarantee that, I don't think there is need to bother yourself again. If you want your coin to be in hot wallet or cold storage, you had better keep it on your own where you control the key yourself and back it up. That would give you what you seek.
wrong... there was a hack in bitstamp and as far as i remember only the "hot" (thay called it "operational") wallet was/were compromised... the cold were safe.
Why am i asking? Because i want to know during which timeframe should i worry the most and "keep an eye on it" and after which time i can be more assured (since when its in cold wallets i believe its much harder for hacker to obtain those)... For example can i relax 1 hour after sending my coins to an exchange (after they are credited) or after a day?
It seems like a reasonable question, and someone that watched the hack of bitstamp back in the day more closely would know.
November 20, 2017, 05:55:57 AM
Why do you want to store your coins on an exchange? If you’re not using Bitstamp to trade then get your coins off there. You should be the sole owner of your private keys, if they are exposed to anybody else then those coins are not yours.
Use a paper wallet, hardware wallet or bitcoin core to keep your bitcoin’s safe.
Use a paper wallet, hardware wallet or bitcoin core to keep your bitcoin’s safe.
Jessus fu... christ... im not an idiot
... I want to use these for a little (test) trading... Also someone (not me at current stage) would like to sell some of his bitcoin where the price is overshoot (like it was at 1200) and as it will be at 10 000 and buy back lower. November 19, 2017, 08:54:42 AM
Hello
How long does it take Bitstamp exchange to move newly arrived bitcoins (from its customers) to cold storage...? Does anybody has any idea?
Im askign because i want my coins to be secured and coins in cold storage on any exchange IS (ARE) more secured than the ones in HOT wallets (ready for immidiate withdrawl...).
And i know it takes some timeframe before the coins are added to cold storage on bitstamp (or any exchange). The one time (only one?) bistamp was hacked, the coins in the cold storage were safe... only the coins deposited "lately" (e.g. i assume coins in hot wallets on exchange) were at risk and partially stolen (AFAIK).
So does anybody have any idea how long does it take before Bitstamp moves newly arrived coins to its cold storage? 1 hour? 6 hours, 12 hours, 1 day...?
(thank you)
How long does it take Bitstamp exchange to move newly arrived bitcoins (from its customers) to cold storage...? Does anybody has any idea?
Im askign because i want my coins to be secured and coins in cold storage on any exchange IS (ARE) more secured than the ones in HOT wallets (ready for immidiate withdrawl...).
And i know it takes some timeframe before the coins are added to cold storage on bitstamp (or any exchange). The one time (only one?) bistamp was hacked, the coins in the cold storage were safe... only the coins deposited "lately" (e.g. i assume coins in hot wallets on exchange) were at risk and partially stolen (AFAIK).
So does anybody have any idea how long does it take before Bitstamp moves newly arrived coins to its cold storage? 1 hour? 6 hours, 12 hours, 1 day...?
(thank you)
There is no way you are going to have access to that kind of information and if anybody tells you he knows, its fake as the only source of that would be a top level guy in that exchange site not even the moderators or staff because that to me is a top secret information that would not only be kept, but guided. The moment that has been exposed, it then mean an attack is imminent when you know when fund go in, you obviously know when it comes out. That won't happen.
Why are you even bothered as to when they are moving it, what should be your concern is if its safe there? The moment they can guarantee that, I don't think there is need to bother yourself again. If you want your coin to be in hot wallet or cold storage, you had better keep it on your own where you control the key yourself and back it up. That would give you what you seek.
November 19, 2017, 08:52:15 AM
Why do you want to store your coins on an exchange? If you’re not using Bitstamp to trade then get your coins off there. You should be the sole owner of your private keys, if they are exposed to anybody else then those coins are not yours.
Use a paper wallet, hardware wallet or bitcoin core to keep your bitcoin’s safe.
Use a paper wallet, hardware wallet or bitcoin core to keep your bitcoin’s safe.
November 19, 2017, 08:48:12 AM
Nobody any reaction? I cannot be the only one whos mind this idea came across?
November 18, 2017, 10:23:51 AM
Hello
How long does it take Bitstamp exchange to move newly arrived bitcoins (from its customers) to cold storage...? Does anybody has any idea?
Im askign because i want my coins to be secured and coins in cold storage on any exchange IS (ARE) more secured than the ones in HOT wallets (ready for immidiate withdrawl...).
And i know it takes some timeframe before the coins are added to cold storage on bitstamp (or any exchange). The one time (only one?) bistamp was hacked, the coins in the cold storage were safe... only the coins deposited "lately" (e.g. i assume coins in hot wallets on exchange) were at risk and partially stolen (AFAIK).
So does anybody have any idea how long does it take before Bitstamp moves newly arrived coins to its cold storage? 1 hour? 6 hours, 12 hours, 1 day...?
(thank you)
How long does it take Bitstamp exchange to move newly arrived bitcoins (from its customers) to cold storage...? Does anybody has any idea?
Im askign because i want my coins to be secured and coins in cold storage on any exchange IS (ARE) more secured than the ones in HOT wallets (ready for immidiate withdrawl...).
And i know it takes some timeframe before the coins are added to cold storage on bitstamp (or any exchange). The one time (only one?) bistamp was hacked, the coins in the cold storage were safe... only the coins deposited "lately" (e.g. i assume coins in hot wallets on exchange) were at risk and partially stolen (AFAIK).
So does anybody have any idea how long does it take before Bitstamp moves newly arrived coins to its cold storage? 1 hour? 6 hours, 12 hours, 1 day...?
(thank you)
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