Topic: Leave Bitcoin in Exchange? - page 3. (Read 1170 times)
Definitely recommended to put in a wallet. Make sure to backup your private key
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I think the most secure wallet you can have is a Trezor. That being said, it is fine to have some funds in wallets, as long as you don’t have a lot of money in them and also if you think of having different cryptos that are not supported by Trezor and plan to do some trading.
You can also split your funds in different exchanges to spread the risk, as it is unlikely that they will be hacked at the same time.
You can also split your funds in different exchanges to spread the risk, as it is unlikely that they will be hacked at the same time.
Some people says that the wrost thing to do is leave your bitcoins in some exchange.
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.
Do you recommend to me to move this bitcoin to a wallet like Electrum?
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.
Do you recommend to me to move this bitcoin to a wallet like Electrum?
If you are using it for daily trading, you gotta leave it there and maybe move your capital to a private wallet for safer storage after you must have made reasonable profit
Agree. When doing trading, I leave the amount on the exchanger but make sure that the exchanger can be trusted. Sometimes I keep active and watch the status until the exchange can get this make sure that the amount will not be scammed. I used to trade the amount that I need to buy things and the save the left amount in wallet that provides private key.
Only leave as much money in an exchange as you can afford to lose.
And when you leave it you also take the consequences of losing it.
So instead of worrying just deposit your coins into exchange when you see the coins are doing great and start trading.
And after you trade immediately witdraw it and transfer it to your wallet that holds private key.
Better be safe than sorry.
I know this is primarily discussing leaving Bitcoin in an exchange, but what if you are holding a dozen coins on an exchange like Bittrex, let say with a combined value of $5,000. Wouldn't it be a pain to setup 12 different wallets on your desktop or elsewhere and move these holdings there?
Are there online wallets that can accommodate a mixed portfolio, or do they all only work with a single coin?
Are there online wallets that can accommodate a mixed portfolio, or do they all only work with a single coin?
No, if you are trading with that amount of bitcoin then maybe it is a good option to leave it in the exchange, but only if it is a trusted one. But if you are using that exchange as a wallet, then you are running the risk of someday being scammed by that exchange and lost your bitcoins, so it is not a good option, but it depends on your necessities. Personally, i hold mine on different wallets, but the safest ones.
Some people says that the wrost thing to do is leave your bitcoins in some exchange.
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.
Do you recommend to me to move this bitcoin to a wallet like Electrum?
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.
Do you recommend to me to move this bitcoin to a wallet like Electrum?
I would recommend on moving it because you might loss all of your $200 in an instant if you don't think about the risks of it. If I were you, I would move it into my wallet and leave some couple dollars in for investment and move most of it in your account because the risks of that is really high because you have a lot of money in an exchange site and sometimes when they do maintenance they will steal your money and in an instant when they finish their maintenance your money is gone. You should always think about the safety of your bitcoin before earning that the number 1 rule in my opinion.
First of all what do you intend to do with bitcoins? Do you mind holding it only until every bitcoins cost $ 10,000? Because if you do it better then put that into a wallet where you control your private keys. You'll only be able to access if you hold your privatekeys and nobody unlocks it until they do not know your wallet private keys. So if you keep that long time hiding your bitcoins will not be lost
Some people says that the wrost thing to do is leave your bitcoins in some exchange.
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.
Do you recommend to me to move this bitcoin to a wallet like Electrum?
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.
Do you recommend to me to move this bitcoin to a wallet like Electrum?
The entire point of bitocin is that you do not need to trust one single entity to hold your funds for you. If you store your bitcoin with an exchange you are essentially still having to trust someone, and there is really no point of using bitcoin then.
Plus, using a light wallet such as electrum which you don't need to sync means that it's as convenient as storing your bitcoin on an exchange really.
Only difference is that you can't trade instantaneously but most exchanges only require 1 confirmation on the bitcoin network which is only 10 mins. It's worth the wait.
It is true that to keep your coins in an exchange is not a safe and recommended practice, however the amount you are holding in Payeer seems not so relevant to feel a special anguish for the possibility of losing it. $200 USD is something like 0.0025 btc, so you could take advantage of the fact that you have already invested it in an exchange to try to learn a little bit of trading and multiply your coins, because it seems an amount that anyone could afford to lose without affecting his financial situation or his future.
Some people says that the wrost thing to do is leave your bitcoins in some exchange.
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.
Do you recommend to me to move this bitcoin to a wallet like Electrum?
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.
Do you recommend to me to move this bitcoin to a wallet like Electrum?
If you are using it for daily trading, you gotta leave it there and maybe move your capital to a private wallet for safer storage after you must have made reasonable profit
Some people says that the wrost thing to do is leave your bitcoins in some exchange.
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.
Do you recommend to me to move this bitcoin to a wallet like Electrum?
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.
Do you recommend to me to move this bitcoin to a wallet like Electrum?
In the past,we have seen instances where the exchange was hacked and a lot of people had lost everything which was kept in the exchange account. So this is just a piece of suggestion from the victims of that hacking. It is not a very bad idea to leave your money in exchange wallet especially if you are a daily trader. If you move your bitcoin on a daily basis for trading, you will end up loosing a lot of money for the transaction fees.
So try to keep a minimum amount of bitcoin or any other crypto currency in the exchange wallet if you are a day trader. It will ensure that you will not miss an opportunity. However, if you are an part-time trader, then it is advisable to withdraw your money to your personal wallet like Electrum.
Some people says that the wrost thing to do is leave your bitcoins in some exchange.
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.
Do you recommend to me to move this bitcoin to a wallet like Electrum?
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.
Do you recommend to me to move this bitcoin to a wallet like Electrum?
Leaving bitcoin in an exchange is not very recommended and it is better to leave bitcoin in desktop wallet and electrum is the best among others and highly recommended.
By the way, leaving money in exchange is fine if the amount is small, otherwise if you have some amount of BTC which you consider as big enough for you, it's better to save it on your wallet.
an exchange rarely turn to be scam if their company is legal, but still, prevention better than a cure.
Some people says that the wrost thing to do is leave your bitcoins in some exchange.
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.
Do you recommend to me to move this bitcoin to a wallet like Electrum?
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.
Do you recommend to me to move this bitcoin to a wallet like Electrum?
Leaving bitcoin in an exchange is not very recommended and it is better to leave bitcoin in desktop wallet and electrum is the best among others and highly recommended.
Some people says that the wrost thing to do is leave your bitcoins in some exchange.
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.
Do you recommend to me to move this bitcoin to a wallet like Electrum?
I have 200 usd of btcs in Payeer, it is a online wallet but it also has a exchange.
Do you recommend to me to move this bitcoin to a wallet like Electrum?
i think your bitcoin are in troubles don't waste your time move it into the safe wallet with have strong privatekey to avoid risk and losses because to get bitcoin and then in one mistake you bitcoin flying and you can't recover.
Only leave as much money in an exchange as you can afford to lose.
You never know what can happen to an exchanger. Anytime the owner can close it and disappear with all your money,especially with bitcoin. Dont think you can go to the police for that because you dont have any proof that was your bitcoins since all transactions was anonymous. So keep your bitcoins in a wallet that you have 100% control of it
Bitcoin in an exchange is not a good idea and not wiseable decsion to keep it in the exchange. The most thing to save and keep your bitcoin is in an online/offline wallet were you have an access anytime. 
You never know what can happen to an exchanger. Anytime the owner can close it and disappear with all your money,especially with bitcoin. Dont think you can go to the police for that because you dont have any proof that was your bitcoins since all transactions was anonymous. So keep your bitcoins in a wallet that you have 100% control of it
Holding some on exchanges yes. How else am I going to trade?
The only reason to leave anything in an exchange is if you're a super active traders. And even the very best traders will only leave a small amount of their overall net worth on an exchange if they have any sense.
If you have no need or plans to trade within the next hour then you're doing yourself a disservice by leaving it on there. Even if the exchange itself is fine, it's possible someone might get your login details and empty it.
If you have no need or plans to trade within the next hour then you're doing yourself a disservice by leaving it on there. Even if the exchange itself is fine, it's possible someone might get your login details and empty it.
I think it can't be helped. If a trader is trading all his coin, then all the coins will be in exchanges even their Bitcoin. There is no way we can avoid that. We want profit from our holdings we trade it. Trading it comes with the risk together with exchanges issues. Though it is a sound advice to limit how much currency to leave in the exchange when we trade but it is quite hard when we know what we are trading because we will definitely go all in on it..
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