Topic: NEver keep all your coins on an exchange - page 12. (Read 25791 times)
Yes.. allways hold you coin in official wallet if you want hold for long time...
Anyone here use 796? I'm having issues with a withdraw on there. So far no response from support.
So Coinbase is risky to keep btc in then? I have my btc in their wallet.
we do not say that Coinbase would be a scam, but for all the third party I think will always have risks. it is better if you remain cautious and do not keep all your money in itmoreover Coinbase not exchange dude
Indeed, that is what I advise to everyone I speak to / educate on Bitcoin/Cryptos!! Then PC security aswell.
so timely and good say and advice...serving as source of encourage to all!!!! nice one
Well with another exchange going down just last week i would think not to leave anything in their hands no matter what they tell you about how secure they are. 
As long as we are not keeping the coins under our own pillows and in many exchanges available, then there would always be risks involved. However, we need them so we better choose one which can be more trustworthy and reliable. Since I am from the Philippines, am using a local company named Coins.Ph though I have some BTC in CoinPayments too.
I had already learnt lesson from exchange site . Although i had loosed only few doge coin but still loss is loss and as a student i can't afford to loss any of my money. All these third party bitcoin services are all scam. Because without scamming they can't last longer as sometimes they face losses and to recover that they makes these shit
So Coinbase is risky to keep btc in then? I have my btc in their wallet.
It doesn't really matter what kind of exchange or wallet service you are using to store your coins in. In all cases you don't own what you actually have as the exchange or wallet service has full control over your coins. Coinbase is well insured against thefts and all that, but even while knowing that, I would never store my coins at any place beside offline where I have full control over every Satoshi that I own.
This is some good advice but the only problem is when you are trying to exchange your bitcoins for another currency... this confirmation waiting peroid takes long #Patience_ISSues
So Coinbase is risky to keep btc in then? I have my btc in their wallet.
I can't believe how many people are still making this kinda mistake!
they are all fooled by the empty promises that these exchange service make. they all say we are super uber duper safe and we are doing all the security things to make our service the safest in the world and they add an image of a safe so people beleive it is safe
Correct we need to put money in an exchange that we afford to lose and to have multiple investment will lessen the risk and never put all your money in one exchange because the risk was 100%.
In any exchanges, there are always risk involved and no one is spared. But of course we have to put some of our bitcoins to exchanges in order to trade. Though not all, but as what you have said,bitcoins that you can afford to lose and I agree with it. Trading like other exchanges is like gambling, some times to win/gain and other losses.
I can't believe how many people are still making this kinda mistake!
It is fine taking risk, but not all should keep in an exchange. Yes, I agree with others that it has low security for now, maybe, you have just to take it easy and study well the things you are in to.
The story with Bitfinex teached all of us to not keep money on one place. I think it is not safe to hold bitcoins in an exchanger generally. They have low security protection so if you are holding your coins on some exchanger site you already mase say goodbye to it. You never know in wich moment of time it going to be hacked.
better to use cold storage or personal wallet in android or pc or laptop to hold bitcoin or spread your bitcoins in many exchanger so if one of exchanger gets hacked, your other bitcoin is not get hacked too and you can still use your bitcoin to continue to trading. but this mean its not safe forever, and we still manage our bitcoin to the safe place.
I was used to let some money at few exchanges by using their wallets as online wallets for long time. I still had large amount in my own possession having them locked into my desktop wallet. These recent events put me to transfer everything what I was letting on exchanges to wallet. I don't compromise over safety anymore as no one can care of my money better than me.
There is many stories out that and it is just that many people choose not to listen to these stories. I have experienced a few of these and it is really a very painful experience so now i keep all my btc in my wallet.
I lose half of my btc when mtgox got hacked. I lose all my dogecoin when crypsty got hacked. And there is one other site that i lose 2/3 of my btc too.
then how are you trading now?!!
the thing that people usually forget about exchanges and keeping money there is that you sometimes have to. and we never know when they are going to get hacked.
this is the risk that any trader has to take if they want to make any trade at all. for example you sometimes want to open a position and wait for it to be filled and we all know that this never happens right away so you have to leave money there and in an open order.
I was used to let some money at few exchanges by using their wallets as online wallets for long time. I still had large amount in my own possession having them locked into my desktop wallet. These recent events put me to transfer everything what I was letting on exchanges to wallet. I don't compromise over safety anymore as no one can care of my money better than me.
There is many stories out that and it is just that many people choose not to listen to these stories. I have experienced a few of these and it is really a very painful experience so now i keep all my btc in my wallet.
I lose half of my btc when mtgox got hacked. I lose all my dogecoin when crypsty got hacked. And there is one other site that i lose 2/3 of my btc too.
No i don't have any coin on bitfinex but i have some coin in other exchanger site. If i didn't wrong to remember i have some coin in poloniex, may be it is not too good. But if i wait for price of the coin increase.
If i sell at this time, i will not get a profit from my coin. Even though i should wait for long time enough it is not a problem.
If i sell at this time, i will not get a profit from my coin. Even though i should wait for long time enough it is not a problem.
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Keeping your money in an exchange is like doing the same thing in real life or leaving your wallet in a supermarket for some time. It's risky and even though there are lots of cameras and security stuff, it can happen anytime.
definitely different while if you are saving up your bitcoin on popular site like poloniex (even though they still have a chance to turn out scamming people but they seemed will not) and if their office were registed officially and under government rules,they will having a small chance to scam you
Don't be lazy if you are not trader but are investor then better don't let unused funds on exchanges. That was off course big shock seeing of Bitcfinex hacking for everyone. I was not using that exchange but in past have lost some on other exchange. I already am not letting funds there. I deposit whenever I have to buy some alternative coin and then withdraw them as well.
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