Topic: How much do you trust these exchanges? (Read 1133 times)
I do need to deposit some bitcoin to my accounts on exchanges for trading and selling, but I will withdraw them back to my offline wallet as soon as I am done with it.
I will never keep funds on an exchange, just to convert and get out!!
IMO you'd be best to generally use an exchange to *move and convert funds* and then be done with it.
If you are going to "day-trade" then decide your *risk level* (i.e. how much BTC you are prepared to lose) and be comfortable with that.
If you are going to "day-trade" then decide your *risk level* (i.e. how much BTC you are prepared to lose) and be comfortable with that.
bitstamp and kraken are okay for pocket money, not more.
(all others exchanges: dont leave money there)
(all others exchanges: dont leave money there)
I only leave alts on exchanges to take advantage of the sudden pump and dumps that may occur, most of my BTC is on cold storage.
i had some bad experience with couple exchange ........
so the safety way for me is withdraw to my wallet after do some trading.
i know it waste time to do that , but safety first is my motto now
so the safety way for me is withdraw to my wallet after do some trading.
i know it waste time to do that , but safety first is my motto now
Understood thanks 
Another question, do you think that an hot wallet on windows is more secure than the exchanges?
Another question, do you think that an hot wallet on windows is more secure than the exchanges?
That depends on how well you can keep malware off your computer, how good your internet firewall is, and how dedicated you are to keeping secure backups.
If you load pirated software or every new altcoin that comes out onto your Windows computer, or you have file sharing turned on and no firewall at all, or you never ever back up your wallet, then you'd probably be more secure trusting one of the exchanges and hoping that they'll let you have the bitcoins back when you want them.
Understood thanks
Another question, do you think that an hot wallet on windows is more secure than the exchanges?
Another question, do you think that an hot wallet on windows is more secure than the exchanges?
With any exchange, if you want to get a better price for a trade, you'll need to have your orders open for longer period of time, then you don't have much choice, you either trust, or pray.
i don't trust any of them. the saying "if you don't control the private keys, you don't own any bitcoin" is true. BUT i weigh that risk against the potential reward of trading gains, and find that taking moderate risk (50% cold storage still) in that regard is worth it for me. i spread the risk between Bitfinex and BTCE mainly, with a bit on Poloniex for altcoin trading.
I wouldn't trust any exchange, you never know what could happen but if I had to use one of them as a storage, probably LocalBitcoins. They have pretty good security and last time a hacker even had server access but they got kicked out after 40 minutes or so and they couldn't do anything.
I can't speak for other methods of entry and I'm sure the LBC team choose not to reveal their methods of protection as to provide more security but I think if someone has that much access and can't do any damage then LBC deserve some props.
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All data on the website server is encrypted. Manual actions are needed to make this data readable, so the attacker could not gain access to the data even when having a server console access.
I can't speak for other methods of entry and I'm sure the LBC team choose not to reveal their methods of protection as to provide more security but I think if someone has that much access and can't do any damage then LBC deserve some props.
Keep the bitcoin in your wallet, and add minimum amount in the exchanges
How many bitcoins would you leave in the following exchanges without thinking "I have to put them offline, they aren't safe here".
This is my list:
BitStamp: max 5 btc
Poloniex: max 3 btc
TheRockTrading: max 2 btc
Kraken: max 0,5 btc
Mintpal: max 0,5 btc
Add other exchanges if you want.
This is my list:
BitStamp: max 5 btc
Poloniex: max 3 btc
TheRockTrading: max 2 btc
Kraken: max 0,5 btc
Mintpal: max 0,5 btc
Add other exchanges if you want.
My list:
BitStamp: max 0 BTC
BTC-E: max 0 BTC
localbitcoins: max 0 BTC
Poloniex: max 0 BTC
TheRockTrading: max 0 BTC
Kraken: max 0 BTC
Mintpal: max 0 BTC
I just don't have any good reason to leave any bitcoins in an account under the control of someone else for any more time than absolutely necessary to accomplish the desired transaction.
How many bitcoins would you leave in the following exchanges without thinking "I have to put them offline, they aren't safe here".
This is my list:
BitStamp: max 5 btc
Poloniex: max 3 btc
BTC-e: max 2 btc
TheRockTrading: max 2 btc
Kraken: max 0,5 btc
Mintpal: max 0,5 btc
Add other exchanges if you want.
This is my list:
BitStamp: max 5 btc
Poloniex: max 3 btc
BTC-e: max 2 btc
TheRockTrading: max 2 btc
Kraken: max 0,5 btc
Mintpal: max 0,5 btc
Add other exchanges if you want.
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