NEver keep all your coins on an exchange - page 10.

Hugroll

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Quote from: abaskeren on November 04, 2016, 02:20:30 PM

keep your BTC on your own wallet with 2nd auth or double security..
keep it safe there Grin

lol if your wallet requires 2 factor authentication, that means its not stored locally and is likely a web based wallet. I recommend everyone to use a hardware wallet or paper wallets for extreme security.

Also i get why many people would want to keep all their money on an exchange, incase the price bursts and they feel like they have to sell fast before the price goes down and waiting to send to an exchange and waiting for 6 confirmation takes hours.

Yakamoto

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Quote from: DeDordtenaar on November 04, 2016, 04:49:33 PM

Quote from: Aamir1 on November 04, 2016, 12:51:33 PM

Quote from: springgers on November 04, 2016, 11:40:52 AM

Quote from: croutonhexagon on November 04, 2016, 07:43:09 AM

Yes just few days back a exchange site ran away with appreciable amount of money. I think exchange sites come to loot user if they can't profit with their plans. But they should have little mercy on users hard earned money. Don't they feel insecure to run away with money if millions of people. I think exchange site have some rules and regulations and should be under registration of local police.

They can run an exchange without problems for years and years however if they make 1 mistake, it's gone.

We can see a lot of examples, olders or not about this.

Just keep your money with you.

People should simply avoid new exchange sites coming to being everyday who does not have any known and well reputed members from the community because in such cases if the exchange runs away with the money, the investors should be guilty for their mistake not the exchange itself as they should have known.

I do not think we should avoid the exchange of new sites. The new site does not mean not reliable. they may be more reliable right? so I think, you can just use any exchanges as long as you want to be careful, I think keep all bitcoin in exchange is not a problem, as long as you keep it in a reliable exchange. I keep all my bitcoin in the local exchange. because owner of that exchange is my friends so I could say safely

New exchanges, without a lot of information related to their owners or at the very least parent company (if one exists) are typically scams in some form. I wouldn't trust them until they prove they can be trusted, and a majority of exchanges simply can't prove that. Plus most don't have daily volumes worth a damn.

DeDordtenaar

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Quote from: Aamir1 on November 04, 2016, 12:51:33 PM

Quote from: springgers on November 04, 2016, 11:40:52 AM

Quote from: croutonhexagon on November 04, 2016, 07:43:09 AM

Yes just few days back a exchange site ran away with appreciable amount of money. I think exchange sites come to loot user if they can't profit with their plans. But they should have little mercy on users hard earned money. Don't they feel insecure to run away with money if millions of people. I think exchange site have some rules and regulations and should be under registration of local police.

They can run an exchange without problems for years and years however if they make 1 mistake, it's gone.

We can see a lot of examples, olders or not about this.

Just keep your money with you.

People should simply avoid new exchange sites coming to being everyday who does not have any known and well reputed members from the community because in such cases if the exchange runs away with the money, the investors should be guilty for their mistake not the exchange itself as they should have known.

I do not think we should avoid the exchange of new sites. The new site does not mean not reliable. they may be more reliable right? so I think, you can just use any exchanges as long as you want to be careful, I think keep all bitcoin in exchange is not a problem, as long as you keep it in a reliable exchange. I keep all my bitcoin in the local exchange. because owner of that exchange is my friends so I could say safely

abaskeren

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keep your BTC on your own wallet with 2nd auth or double security..
keep it safe there Grin

Etaurith

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Its indeed not smart because you never know what will happen with your bitcoins these days but I think that it can sometimes be okay to hold some on it but not huge numbers or more than one bitcoin.

Betwrong

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Quote from: Harlot on November 04, 2016, 12:50:19 PM

For me I would rather hold my Bitcoin or amy kind of Cryptocurrency in its respective wallets as it is much safer than holding it to a site. Of course you will handle transaction fees with it, but by transferring your coins into your wallet gives you assurance that your fortune is still woth you to grow. Also just don't trust any new kind of exchange you see.

Some exchanges chrage much more than a regular transaction fee for the withdrawal, but it is rarely over $1 anyway, so, yeah, it is better to lose $1 than all you have on your balance. But that is so if the balance is big. If you have $10 you will think twice before withdrawing it and actually I think it is better to risk $10 then do this withdraw/deposit thing every day.

socks435

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Quote from: Aamir1 on November 04, 2016, 12:51:33 PM

Quote from: springgers on November 04, 2016, 11:40:52 AM

Quote from: croutonhexagon on November 04, 2016, 07:43:09 AM

Yes just few days back a exchange site ran away with appreciable amount of money. I think exchange sites come to loot user if they can't profit with their plans. But they should have little mercy on users hard earned money. Don't they feel insecure to run away with money if millions of people. I think exchange site have some rules and regulations and should be under registration of local police.

They can run an exchange without problems for years and years however if they make 1 mistake, it's gone.

We can see a lot of examples, olders or not about this.

Just keep your money with you.

People should simply avoid new exchange sites coming to being everyday who does not have any known and well reputed members from the community because in such cases if the exchange runs away with the money, the investors should be guilty for their mistake not the exchange itself as they should have known.

Yeah you have a point honestly i am not trusting new exchangers too. better to exchange in reputed exchange site and members and reviews from other people.. and yeah it is your own fault if you did not search first and to know about will information of the exchange site you don't need to blame others .
For me i never trust all exchange site i just keep my bitcoins there but not all just few and spread it to other exchange site with trust.

Aamir1

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Quote from: springgers on November 04, 2016, 11:40:52 AM

Quote from: croutonhexagon on November 04, 2016, 07:43:09 AM

Yes just few days back a exchange site ran away with appreciable amount of money. I think exchange sites come to loot user if they can't profit with their plans. But they should have little mercy on users hard earned money. Don't they feel insecure to run away with money if millions of people. I think exchange site have some rules and regulations and should be under registration of local police.

They can run an exchange without problems for years and years however if they make 1 mistake, it's gone.

We can see a lot of examples, olders or not about this.

Just keep your money with you.

People should simply avoid new exchange sites coming to being everyday who does not have any known and well reputed members from the community because in such cases if the exchange runs away with the money, the investors should be guilty for their mistake not the exchange itself as they should have known.

Harlot

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For me I would rather hold my Bitcoin or amy kind of Cryptocurrency in its respective wallets as it is much safer than holding it to a site. Of course you will handle transaction fees with it, but by transferring your coins into your wallet gives you assurance that your fortune is still woth you to grow. Also just don't trust any new kind of exchange you see.

Bitcoinsummoner

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Maintain Social Distance, Stay safe.

Quote from: MancyZz on November 04, 2016, 12:22:58 PM

Quote from: spazzdla on June 21, 2016, 12:14:10 PM

Gox
Cryptsy..

If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.

excited not only mercy but it was very sick if loss it

I'm one of the victim in cryptsy before never receive any from altcoin so better to keep check always the forums and some reviews about the exchange site before all of your coins in exchange was disappear..

MancyZz

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Quote from: spazzdla on June 21, 2016, 12:14:10 PM

Gox
Cryptsy..

If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.

excited not only mercy but it was very sick if loss it

springgers

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Quote from: croutonhexagon on November 04, 2016, 07:43:09 AM

Yes just few days back a exchange site ran away with appreciable amount of money. I think exchange sites come to loot user if they can't profit with their plans. But they should have little mercy on users hard earned money. Don't they feel insecure to run away with money if millions of people. I think exchange site have some rules and regulations and should be under registration of local police.

They can run an exchange without problems for years and years however if they make 1 mistake, it's gone.

We can see a lot of examples, olders or not about this.

Just keep your money with you.

BitHodler

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Quote from: croutonhexagon on November 04, 2016, 07:43:09 AM

Yes just few days back a exchange site ran away with appreciable amount of money. I think exchange sites come to loot user if they can't profit with their plans. But they should have little mercy on users hard earned money. Don't they feel insecure to run away with money if millions of people. I think exchange site have some rules and regulations and should be under registration of local police.

It's greed that make exchange owners/operators go full nuts.

Look at MtGox for example, it was back then the largest and most solid exchange before certain red flags were popping up about people not being able to execute withdrawals.

It was an exchange that was making more than decent profits at that time, plus the fact that Mark Karpeles had like 100K BTC already.

Why does someone with a great running exchange and a huge stash of coins go that far? Again, it's because of their greedy nature.

Their greed is so strong, that it overpowers their entire way of thinking and sense of being humane. It's really mind boggling.

croutonhexagon

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Yes just few days back a exchange site ran away with appreciable amount of money. I think exchange sites come to loot user if they can't profit with their plans. But they should have little mercy on users hard earned money. Don't they feel insecure to run away with money if millions of people. I think exchange site have some rules and regulations and should be under registration of local police.

fachant

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Quote from: LiberOptions on November 03, 2016, 07:14:52 PM

yeah! it is just the same as saying, Never keep all of your eggs in the same basket! And as for exchanges, I always try to have the little as possible in there. I got burnt in Mintpal and Cryptsy. don´t wanne get there anymore

Today is not many exchanges that have not been hacked. Having all coins on exchange, I will not call a basket, I will call that Russian roulette Wink

mantra

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Quote from: LiberOptions on November 03, 2016, 07:14:52 PM

yeah! it is just the same as saying, Never keep all of your eggs in the same basket! And as for exchanges, I always try to have the little as possible in there. I got burnt in Mintpal and Cryptsy. don´t wanne get there anymore

right, keep all your coins on an exchange is a big mistake, I never wear Mintpal and Cryptsy I prefer trading in Bittrex or polo safer if we add 2FA security

LiberOptions

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yeah! it is just the same as saying, Never keep all of your eggs in the same basket! And as for exchanges, I always try to have the little as possible in there. I got burnt in Mintpal and Cryptsy. don´t wanne get there anymore

virasisog

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Quote from: arransiv on November 03, 2016, 06:26:02 PM

Quote from: virasisog on November 03, 2016, 05:45:13 PM

It is much safe if you scattered your coins on different exchanges and have atleast money left in your wallet the is safety and wise spending of your coins. I did this things and i don't want to have any experience of hacking with my accounts not just scattering mga bitcoins on different exchanges i make sure to put a 2fa security on all important accounts that i have.

With 2FA or not, you aren't safe, bitfinex show this to us Wink

I don't think it's a good idea using various exchanges, I prefer to use just the most trustable ones

I think it depends because the site itself knows the passwords of every users the site is the one who scams the 2fa comes from them .
So i agree to you to prefer the reputable and trusted exchanges site only .thank you for giving your opinion and letting us know , now i know its possible and to pick the trusted sites .

arransiv

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Quote from: virasisog on November 03, 2016, 05:45:13 PM

It is much safe if you scattered your coins on different exchanges and have atleast money left in your wallet the is safety and wise spending of your coins. I did this things and i don't want to have any experience of hacking with my accounts not just scattering mga bitcoins on different exchanges i make sure to put a 2fa security on all important accounts that i have.

With 2FA or not, you aren't safe, bitfinex show this to us Wink

I don't think it's a good idea using various exchanges, I prefer to use just the most trustable ones

virasisog

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It is much safe if you scattered your coins on different exchanges and have atleast money left in your wallet the is safety and wise spending of your coins. I did this things and i don't want to have any experience of hacking with my accounts not just scattering mga bitcoins on different exchanges i make sure to put a 2fa security on all important accounts that i have.

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