for altcoins, maybe i keep on one exchange, and in other exchange i will keep it too, so if i want to make arbitrage, i can quickly sell it into another market exchange, and this is apply to with my btc.
I think not a problem if you keep a few altcoin only by the number or price is small. but if you have a lot or lots altcoin or bitcoin in a very large number, it is better to put it into the wallet it will be much more secure, saving in another exchange I think it does not help 
Topic: NEver keep all your coins on an exchange - page 17. (Read 25791 times)
I am agree with you,better we never keep our coins on any exchange
and never keep our coins on third parties we will never know what their plan
so we have to keep it on private wallet and secure wallet
and never keep our coins on third parties we will never know what their plan
so we have to keep it on private wallet and secure wallet
If you're trading, then you obviously need to have the coins in your exchange account, but as soon as you are done trading (have no open buy and sell orders anymore), then it's the best thing to withdraw all coins that you have. Better safe than sorry, right?
Would you guys recommend storing your coins on myethwallet? They allow storing different kinds of coins as far as i know. And so are shapeshift. Storing coins in these app can help me access them anywhere with just my Tablet.
I will not comment on this but I can suggest you a few alternatives which are : holytransaction, blockchain ( for only btc ) , dogechain ( for doge coins ) , poloniex and many others Note : I am not at all saying these sites will nevr scam but they are running since long time.
Technically, blockchain.info would be the safest of those listed (based on the ones I know), as you can get your private key. That said, you will never be safe unless you hold your coins locally and keep them highly protected. No online site is going to change that.
You mean out of all of the "most dangerous ones", blockchain.info is the safest.
Because no online wallet is safe wallet.
Gox
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I put my coins in local exchanger (bitcoin.co.id), I think this is an effective, I always exchange my bitcoin so I would feel easier if placed in the exchanger doesn't have to pay fee to send again. Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I am agree with you,better we never keep our coins on any exchange
and never keep our coins on third parties we will never know what their plan
so we have to keep it on private wallet and secure wallet
and never keep our coins on third parties we will never know what their plan
so we have to keep it on private wallet and secure wallet
I think the reason people still keep their coins on an exchange is that they don't want to lose that small part of their money which they should pay for withdrawing. This approach is not a good one though. You should easily accept losing a small fraction of your money in order to not lose much more.
That is really a foolish thing if really someone thinks that, being that much miser would probably cost you, for just paying 0.1% or something on withdraw fees you put all 100% of your money under risk? Is that wise at all?
It's an illogical way of thinking. I've bought $100 worth of Monero, but I couldn't buy it all at once so I had to buy 5 times to reach the sum. After 5 transactions, I have lost 1 Monero which means $10. This means I'm left with $90.. It's a misery but I still prefer losing $10 rather than risking $100.
If you buy $100 worth of bitcoin each month in the next 10 years, they will be worth a lot in the future.
I think the reason people still keep their coins on an exchange is that they don't want to lose that small part of their money which they should pay for withdrawing. This approach is not a good one though. You should easily accept losing a small fraction of your money in order to not lose much more.
That is really a foolish thing if really someone thinks that, being that much miser would probably cost you, for just paying 0.1% or something on withdraw fees you put all 100% of your money under risk? Is that wise at all?
It's an illogical way of thinking. I've bought $100 worth of Monero, but I couldn't buy it all at once so I had to buy 5 times to reach the sum. After 5 transactions, I have lost 1 Monero which means $10. This means I'm left with $90.. It's a misery but I still prefer losing $10 rather than risking $100.
for altcoins, maybe i keep on one exchange, and in other exchange i will keep it too, so if i want to make arbitrage, i can quickly sell it into another market exchange, and this is apply to with my btc.
I think the reason people still keep their coins on an exchange is that they don't want to lose that small part of their money which they should pay for withdrawing. This approach is not a good one though. You should easily accept losing a small fraction of your money in order to not lose much more.
That is really a foolish thing if really someone thinks that, being that much miser would probably cost you, for just paying 0.1% or something on withdraw fees you put all 100% of your money under risk? Is that wise at all?
I think the reason people still keep their coins on an exchange is that they don't want to lose that small part of their money which they should pay for withdrawing. This approach is not a good one though. You should easily accept losing a small fraction of your money in order to not lose much more.
no that's not it.
a lot of traders who you see around here are day traders and that means they are always active on an exchange site making trades so this means they always have an open order somewhere on the exchanger orderbook and the hacks and running aways happen suddenly there is no warning so you can withdraw before that.
I think the reason people still keep their coins on an exchange is that they don't want to lose that small part of their money which they should pay for withdrawing. This approach is not a good one though. You should easily accept losing a small fraction of your money in order to not lose much more.
no that's not it.
a lot of traders who you see around here are day traders and that means they are always active on an exchange site making trades so this means they always have an open order somewhere on the exchanger orderbook and the hacks and running aways happen suddenly there is no warning so you can withdraw before that.
I think the reason people still keep their coins on an exchange is that they don't want to lose that small part of their money which they should pay for withdrawing. This approach is not a good one though. You should easily accept losing a small fraction of your money in order to not lose much more.
Well no doubt and don't keep all your coins in one wallet. That is just being irresponsible with your available bitcoins.
Putting some of them into cold storage would be your best bet to have them some what safe.
Putting some of them into cold storage would be your best bet to have them some what safe.
Gox
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
Yes i never stock my bitcoin in exchange website specially when i made profit already i always withdrew my profit and or i always buy cheap coins to sell high in future month or upcomming months some exchange website has no mercy they always alibies that there attack of some hackers Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I agree, its not a safe to store your coin on exchanges
its better to save it in your the wallet. for the moment an exchanges is not safe, its easy to attach by the hackers.
its better to save it in your the wallet. for the moment an exchanges is not safe, its easy to attach by the hackers.
Yes its really not safe to keep all our coins in any of the exchange because nowdays we just cannot trust any of the exchanges so better to keep very minimal amount there and keep rest of the coins in the trustable wallet only.
It goes without saying, how many people have been so badly burnt losing coins due to exchanges or online wallets getting hacked. You are responsible for the security & safety of your coins, please be vigilant.
I just wanna give a follow-up to this. Being vigilant is right but keep being vigilan at all times!
You know because anything here could scam you or steal money from you. Even the sites you thought were legit.
This needs to be said almost everyday in the forum. I see everyday cases of users not accessing their funds from different online wallets. I have tried to tell them to switch to desktop or hardware wallet and the only answer I get is how good is their blockchain.info wallet unfortunately.
Having said that, it's the same with the exchanges. If you really cannot stay without trading, then do the trade and immediately after withdraw your coins to a safe wallet. Security of your funds is all only on you in bitcoin.
Having said that, it's the same with the exchanges. If you really cannot stay without trading, then do the trade and immediately after withdraw your coins to a safe wallet. Security of your funds is all only on you in bitcoin.
It goes without saying, how many people have been so badly burnt losing coins due to exchanges or online wallets getting hacked. You are responsible for the security & safety of your coins, please be vigilant.
Exactly.... Recently before sometimes when bitfinex for hacked and so many users lost their coins because of that.. that is the reason why keeping the coins in exchanges is never safe... even if the exchange is trusted but getting hacked is also something... so just keep the coins that you use for trading and withdraw others to your wallet...
Bitfinex is one of the recent example with which many have lost millions of their hard earned bitcoin which were in bitfinex wallets. Most of the exchangers try to have good security to protect users funds however hackers are being even smarter and they now a days mainly focused on bitcoin related businesses specially exchange platforms as they store very large amount of bitcoin. So better not to keep all your coins on a single exchange platform.
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