Topic: NEver keep all your coins on an exchange - page 13. (Read 25791 times)
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.
This is right , Dont keep all of your coins on one exchange , Their are a change that a exchange can be hacked and stole all of your coins.
Better to store small amount of bitcoin on one exchange site.
This is a good information for newbies that is starting on bitcoin trading
Better to store small amount of bitcoin on one exchange site.
This is a good information for newbies that is starting on bitcoin trading
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.
Exactly, though there are people around or security is tight but still your wallet will get stolen if its kept somewhere like that, and keeping your bitcoins in a exchange is like that, when you are away from the exchange, you have no access to them at all and during that time anything can happen, so it is better to keep them in a secure wallet.
This is a really nice thread. The recent activity that has happened people really need to realise before its to late.
Never keep ANY coin on ANY exchange.
Fixed.
Please people, learn to put your coins in your own local wallets where you control the private keys, never have coins in exchanges. How many times this has to be said? I guess some people never learn.
Fixed.
Please people, learn to put your coins in your own local wallets where you control the private keys, never have coins in exchanges. How many times this has to be said? I guess some people never learn.
Well i wouldnt say have no coins, if your a trader you need to be able to react to changing price, i would say never have more than you are comfortable losing if it all goes wrong.
Never keep ANY coin on ANY exchange.
Fixed.
Please people, learn to put your coins in your own local wallets where you control the private keys, never have coins in exchanges. How many times this has to be said? I guess some people never learn.
Fixed.
Please people, learn to put your coins in your own local wallets where you control the private keys, never have coins in exchanges. How many times this has to be said? I guess some people never learn.
Well i wouldnt say have no coins, if your a trader you need to be able to react to changing price, i would say never have more than you are comfortable losing if it all goes wrong.
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.
yeah it proves that there are no third party sites that could be said to be truly secure, I think all sites have the possibility to exchange scam, so it would be better if you keep cautious dude
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.
Gox
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I wonder why people choose to save their coins on an exchange they can't control and they don't have the private keys instead of their own wallet they can control and they have the private keys.
before I read this thread, I have been always saving my coins on my own wallet, and it's safe. unlike exchange, I've heard an exchange was hacked. so dangerous.
Sure some exchanges arent safe for use, you should know which you must trust. People does invest into exchanges because them are the easy way to make more bitcoins taking a risk, trading does mooves a lot of bitcoins daily.
If your money isn't on your hands, so it's unsafe! That's the truth... Don't matter if an exchange(or web wallet) was safe for years and years, someday a guy can found a way to hack or well, some inside job. Trust none.
So, the Bitcoins are never safe, because they are always far from our hands. Doesn't matter if they are stored on an Exchange, Online Wallet, Desktop Wallet... We are always in risk to be hacked or any other issue that can happen with our computer, laptop, cell-phone.
As was said on another thread, I think would be nice to have a Physical wallet, so we can have the BTCs on our hands without fear to lose it on virtual world.
Gox
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I wonder why people choose to save their coins on an exchange they can't control and they don't have the private keys instead of their own wallet they can control and they have the private keys.
before I read this thread, I have been always saving my coins on my own wallet, and it's safe. unlike exchange, I've heard an exchange was hacked. so dangerous.
Sure some exchanges arent safe for use, you should know which you must trust. People does invest into exchanges because them are the easy way to make more bitcoins taking a risk, trading does mooves a lot of bitcoins daily.
If your money isn't on your hands, so it's unsafe! That's the truth... Don't matter if an exchange(or web wallet) was safe for years and years, someday a guy can found a way to hack or well, some inside job. Trust none.
Gox
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I wonder why people choose to save their coins on an exchange they can't control and they don't have the private keys instead of their own wallet they can control and they have the private keys.
before I read this thread, I have been always saving my coins on my own wallet, and it's safe. unlike exchange, I've heard an exchange was hacked. so dangerous.
Sure some exchanges arent safe for use, you should know which you must trust. People does invest into exchanges because them are the easy way to make more bitcoins taking a risk, trading does mooves a lot of bitcoins daily.
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.
Gox
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I wonder why people choose to save their coins on an exchange they can't control and they don't have the private keys instead of their own wallet they can control and they have the private keys.
before I read this thread, I have been always saving my coins on my own wallet, and it's safe. unlike exchange, I've heard an exchange was hacked. so dangerous.
It is not good to keep your all your coins in one exchange yeah spreading them can be less risk but how about if those exchange site are all the same situation like bitfinex.. so i think better to save your coins in proper wallet if you have litecoin doge coin or other altcoin you should have a computer that can install lots of wallet for your altcoin. .for best and safe keeping those altcoin..
Yes exchange sites, investment sites and some wallets are money laundering scheme and we should never trust them. They found ran away with our money any time. We should never keep money with 3rd party. Instead we should choose official wallets like blockchain for bitcoin, dogechain for doge coin and same for other could too.
yes blockchain is what i prefer using as of now since btc really moving up its very hard to entrust my btc with any third party wallet unless when im doing some trades and i withdraw it right away after i got good profits with my investment, keeping it store to block chain wallet will allow me to secure my self that my money is in good system.
No matter how many times this is repeated, I keep hearing on forums on people are holding their coins on coinbase, or whatever exchange, simply because they are too lazy to do any research and realize how dumb that is.
This thread should be stickied or something, no matter how many times it's said, people don't learn.
This thread should be stickied or something, no matter how many times it's said, people don't learn.
Some users get into trap, while they keep all their hard earnings into exchange websites for mere profit. At the end loses everything. So to avoid, and to be on the safer side it's better to save it in offline wallets or other trusted wallets like Blockchain.info.
Yes exchange sites, investment sites and some wallets are money laundering scheme and we should never trust them. They found ran away with our money any time. We should never keep money with 3rd party. Instead we should choose official wallets like blockchain for bitcoin, dogechain for doge coin and same for other could too.
yes blockchain is what i prefer using as of now since btc really moving up its very hard to entrust my btc with any third party wallet unless when im doing some trades and i withdraw it right away after i got good profits with my investment, keeping it store to block chain wallet will allow me to secure my self that my money is in good system. Yes thats why i use electrum wallet.Its safe and secure.I dont know how more will people loose by keeping all of their coins on an exchange
I just use the bitcoin wallet and store the wallet in an offline place. It is quite safe and secure.
Same here i am using electrum its more safe for me too..
Yes exchange sites, investment sites and some wallets are money laundering scheme and we should never trust them. They found ran away with our money any time. We should never keep money with 3rd party. Instead we should choose official wallets like blockchain for bitcoin, dogechain for doge coin and same for other could too.
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