is bitcoin wallet based company is going to close or it will safe..

deadsilent

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Quote from: mailsforcyr on July 19, 2017, 01:07:30 AM

Hi experts,

i am storing 10 BTC IN MY ZEBPAY bitcoin wallet. two days back i received one message like please store ur coins into paper wallet or offline wallet.
so is it means the company is going to shutdown or what happening..iam in confusion ..
can anyone have idea about Zebpay..please share with me..

Nope, buy it's for your safety. You know every exchange or web wallets sending that kind of notice to their customers because of the activation of SegWit. You just need to cooperate with them to avoid losses. If they are going to close. Atleast they are clean and no intension to scam you because they are informing you to pull out your BTC or keep your private keys before they close. I believe they are just disabling their bitcoin services since it's very risky while the fork is taking place...

Goodluck. Be safe.

trecore4

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I don't think zebpay will go down by any chance. It is big company with all the things taken care of already. The mails are just precautionary stuff that everyone needs to know about. It is just that company don't want to gain negative trust in any bad situation of splitting. Hopefully they will manage everything smoothly.

shirazteam110

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Quote from: mailsforcyr on July 19, 2017, 01:07:30 AM

Hi experts,

i am storing 10 BTC IN MY ZEBPAY bitcoin wallet. two days back i received one message like please store ur coins into paper wallet or offline wallet.
so is it means the company is going to shutdown or what happening..iam in confusion ..
can anyone have idea about Zebpay..please share with me..

they can not never close until bitcoin alive so if Bitcoin dead then it will effect or might go close

Ewox

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Probably they sent that message to you for security purposes when the SegWit activates, there are tendencies bitcoin will divide into two so there is also a possibility that some exchanges and sites will be temporarily unavailable too. So it's safer if you would put it in an offline wallet if you have that amount in your online wallet.

stompix

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So you ask a question and never come back to share with us what happened in the next 5 days since you got the message.
A bit of feedback would have been more than helpful for others also.

There is nothing on their twitter, nothing on their blog can you at least share the content of the message with us?

ps.
holding your coins on any website/online wallet/ etc etc is not a good idea, not now not in the future.

Nahl

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i think this is good that if the company message you directly and they suggest to store your bitcoin into offline wallet before things that are not desirable happened and which mean they're responsibilities to their users so 10 btc is huge amount and keep it into offline wallet is more secure rather than company wallet such as you mentioned above because hackers and scammers always be aiming the people who have huge amount of bitcoin

el kaka22

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First zebpay.com is not a wallet based company still I guess there will be no restrictions for using them as a wallet services but I am sure the email notification for moving out bitcoins must be having enough explanation why it is required and mandatory as per the probable risk of chain split. Instead of coming here and crying about the credibility of a services, I believe it must be good practice to real full mail to know the reason why they are asking to move bitcoins.

klf

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Quote from: frowsiter on July 19, 2017, 12:17:23 PM

Quote from: tiggytomb on July 19, 2017, 08:13:33 AM

That's a good bit to keep on an exchange, they would be advising you in case there is a split on August 1st which now doesn't seem to be something that will be happening.

Anyway it is best practice to hold your own private keys, I am not familiar with Zebpay and if they hold your keys or not but if they don't it would definitely be something worth doing then if they ever shutdown you will not lose anything.

Zebpay looks very reputed wallet in India. It is the second most popular exchange cum wallet which doesn't seem to be a problem for anybody. The message might be just for caution purpose on,y and need not to worry about it. As you can see so many stuffs are going on around and it is best to keep everybody informed about it.

Yes, now most of the exchanges are sending these messages to store your coins in an offline wallet for next few weeks. These exchanges want to play a safe in case of bitcoins gets split after 1st of August. So they are not going to close the site, but for your safety, they are suggesting you store in an offline wallet. Better follow their instructions for next few weeks.

ultrloa

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Quote from: bubblebit on July 22, 2017, 02:03:15 AM

To be safe and as what the wallet admin said its better to transfer it in offline wallet, maybe the best option. But in our country we have a local bitcoin wallet provider with high trust and very transparent costumer relation. There might be some in your country. Look for it. It would be better.

If they wan't to hold for more months then maybe offline wallets might be there best choice but if they will gonna use their balance every day I think it's so hassle to used that one and its time consuming so I wouldn't use that but instead I will stick to my local web wallet since im sure that I'm safe with them and they will not gonna shut of their services since they've got millions of costumers using their service.

bubblebit

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To be safe and as what the wallet admin said its better to transfer it in offline wallet, maybe the best option. But in our country we have a local bitcoin wallet provider with high trust and very transparent costumer relation. There might be some in your country. Look for it. It would be better.

Weawant

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Quote from: dunfida on July 19, 2017, 01:13:26 AM

Quote from: mailsforcyr on July 19, 2017, 01:07:30 AM

Hi experts,

i am storing 10 BTC IN MY ZEBPAY bitcoin wallet. two days back i received one message like please store ur coins into paper wallet or offline wallet.
so is it means the company is going to shutdown or what happening..iam in confusion ..
can anyone have idea about Zebpay..please share with me..

That suggestion is a good one. I have checked zebpay since I didn't hear it on the past and I saw its an exchange and most people suggest here that we should not store up our Bitcoin on an exchange wallet because we wont know on when would they stop operating and also you don't have the access of your private keys compared on paper wallet and offline wallet which you do have the possession of your private keys.

Being reminded by that company to secure your btc balance is good thing since they do that new maybe in preparation for august 1 event, But for now since theirs no further split issue will be happen for next month I think its better follow the beat/pulse of the people who's using that wallet or maybe OP should try to used another wallet who have private keys so that he can be secured as been told by zebpay.

bL4nkcode

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Since you are talking with an exchange then that suggestion from them is better. But if this exchange/wrb wallet are operating from your country, that it was registered from your country as a business then its safe, because if they want to stop without prior notice of transferring your coins to any client hen jail is waiting on them. But for this coming august then its recommended that you store your coins to a safe wallet that you can access your private keys Wink

aoihs00

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Whether it is zebpay or any other wallet they are not going to shut down at all. They have their own strategies to earn back the profits for their companies. They will never get them into trouble and must be having all the blue prints ready to go in the month if august. So be relax about that message as it might be a precaution nothing much.

SvenBomvolen

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10 BTC is a big money. I think they give you nice suggestion to move your founds on a paper wallet, because of it's the most safe place to store your coins. You see, nobody 100% sure what the 1st of August will bring to us, what the effect is going to be, so, I think you need to follow their suggestion about paper wallet. That way you can be sure that nothing will happen with your money.

lite

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Quote from: frowsiter on July 19, 2017, 12:17:23 PM

Quote from: tiggytomb on July 19, 2017, 08:13:33 AM

That's a good bit to keep on an exchange, they would be advising you in case there is a split on August 1st which now doesn't seem to be something that will be happening.

Anyway it is best practice to hold your own private keys, I am not familiar with Zebpay and if they hold your keys or not but if they don't it would definitely be something worth doing then if they ever shutdown you will not lose anything.

Zebpay looks very reputed wallet in India. It is the second most popular exchange cum wallet which doesn't seem to be a problem for anybody. The message might be just for caution purpose on,y and need not to worry about it. As you can see so many stuffs are going on around and it is best to keep everybody informed about it.

Still keeping 10 bitcoins on exchange is a bad practice, only move coins to exchange if you want to sell it, otherwise keep it on desktop/mobile/hardware wallet(electrum/mycelium/trezor). chain split is a big if. but being cautious won't hurt.

Bitcoinsummoner

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Quote from: Catmony on July 19, 2017, 12:23:42 PM

Quote from: mailsforcyr on July 19, 2017, 01:07:30 AM

Hi experts,

i am storing 10 BTC IN MY ZEBPAY bitcoin wallet. two days back i received one message like please store ur coins into paper wallet or offline wallet.
so is it means the company is going to shutdown or what happening..iam in confusion ..
can anyone have idea about Zebpay..please share with me..

May be they can't provide coins in two chains if bitcoin network will split on august during segwit activation so they want their users to hold bitcoin in wallets that will give them private keys. If you don't know how paper wallet works than just use electrum.

Yeah this is i think because of segwit activation this coming august that actually you can read that news here in forum from top left you can see the news about BIP148 this coming august 1 for safety of our bitcoin we should put our bitcoin in safety places like in electrum or in paper wallet before end of this month to me i just choose electrum and backup the private keys just to be safe once the app will crash i can be still recover my bitcoin..

Catmony

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Quote from: mailsforcyr on July 19, 2017, 01:07:30 AM

Hi experts,

i am storing 10 BTC IN MY ZEBPAY bitcoin wallet. two days back i received one message like please store ur coins into paper wallet or offline wallet.
so is it means the company is going to shutdown or what happening..iam in confusion ..
can anyone have idea about Zebpay..please share with me..

May be they can't provide coins in two chains if bitcoin network will split on august during segwit activation so they want their users to hold bitcoin in wallets that will give them private keys. If you don't know how paper wallet works than just use electrum.

frowsiter

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Quote from: tiggytomb on July 19, 2017, 08:13:33 AM

That's a good bit to keep on an exchange, they would be advising you in case there is a split on August 1st which now doesn't seem to be something that will be happening.

Anyway it is best practice to hold your own private keys, I am not familiar with Zebpay and if they hold your keys or not but if they don't it would definitely be something worth doing then if they ever shutdown you will not lose anything.

Zebpay looks very reputed wallet in India. It is the second most popular exchange cum wallet which doesn't seem to be a problem for anybody. The message might be just for caution purpose on,y and need not to worry about it. As you can see so many stuffs are going on around and it is best to keep everybody informed about it.

sweetdesirez

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Quote from: mailsforcyr on July 19, 2017, 01:07:30 AM

Hi experts,

i am storing 10 BTC IN MY ZEBPAY bitcoin wallet. two days back i received one message like please store ur coins into paper wallet or offline wallet.
so is it means the company is going to shutdown or what happening..iam in confusion ..
can anyone have idea about Zebpay..please share with me..

ZEBPAY is a trusted exchange based in India, and there is no news about them shutting down in the coming future. The fact that they are advising their customers to transfer their bitcoins to a paper wallet or offline wallet is to be treated a positive gesture on their part to advise the right thing as their is some uncertainty about the outcome of the August First probable hard fork.

tiggytomb

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That's a good bit to keep on an exchange, they would be advising you in case there is a split on August 1st which now doesn't seem to be something that will be happening.

Anyway it is best practice to hold your own private keys, I am not familiar with Zebpay and if they hold your keys or not but if they don't it would definitely be something worth doing then if they ever shutdown you will not lose anything.

Topic: is bitcoin wallet based company is going to close or it will safe.. (Read 618 times)