NEver keep all your coins on an exchange - page 23.

bravehearth0319

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Quote from: serjent05 on June 21, 2016, 12:43:26 PM

I agree, there are lots of history where people who left their coins in exchange lost everything. GOX and Cryptsy are the bigger one, and there are some small exchanges too like sharex that just close and run with their client's Coin not saying the one posting this message have First hand experience of losing coins to an exchange/trading platform that shutdown.

Yeah true, I remember before I never thought that cryptsy will be shutdown, I was shocked actually, but I learned and that is, it doesn't mean the exchange is company it will long last,..no its not like that just like what happen in bitfinex its a company and many people invested to that exchange but it shutdown too.

utkarshm

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Yes i would rather say not keep even any substancial amount of coins in any of the exchanges.If you are not trading with them just withdraw then to the wallet and keep just a small amount and deposit again from the wallet there if needed because i things exchanges are not safe place now for keeping the coins there,we saw MTgox then bitfinex hacked so dont trust them now,

bravehearth0319

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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.

actually all exchange who is legit are good to invest in. Just never forget don't keep all your coins there. Every time you earn big for bitcoins place it at once on your wallet addresses. So that in that matter you save bitcoins in your wallet for your future.

krishna1

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It is not about bitflenix but before that too many exchanges got hacked and many people lost their coins because they keept it in the online exchange. People burn their coins for many small mistakes and do not even learn from their mistakes

bryant.coleman

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Quote from: smho_16 on August 28, 2016, 11:49:19 AM

There has been three major exchanges hacked and the one who has done the biggest damage is Mt.Gox . I keep thinking how the person behind it who orchestrated everything is not in jail yet.

1.Mt.gox you can check in youtube a song about this https://www.youtube.com/watch?v=K2ku1A5Ox8U
2. Cryptsy
3. Bitfinex

If lesson not learned yet, what can we say, its the user fault and not anyone else.

Most of the times, it is an insider job. At least with Mt Gox, I am 99.999% sure that it was an inside job. Only Mark Karpelès had access to the wallets, and if he was not the thief, then it must be someone else who had physical access to his laptop. I am not that sure about Cryptsy and Bitfinex, but won't be too surprised if these also turns out to be inside jobs.

smho_16

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Quote from: 23dzmaz on August 28, 2016, 10:54:00 AM

Quote from: 2legit2 on August 28, 2016, 10:36:34 AM

Quote from: CroSany on August 27, 2016, 05:59:40 AM

I dont know why i should not keep my coins in exchanger if i am carefully then i think that nobody cant stole my money from my wallet so i keep my money in exchanger really long time and it is still there in exchanger.

well i guess you didnt learn about the bitfinex hack, it should be never done because no one knows what might happen

That's why i never keep my bitcoins on exchanger, it's really risky because they can take your coins or a hacker hack that exchanger sites like happened to bitfinex.

There has been three major exchanges hacked and the one who has done the biggest damage is Mt.Gox . I keep thinking how the person behind it who orchestrated everything is not in jail yet.

1.Mt.gox you can check in youtube a song about this https://www.youtube.com/watch?v=K2ku1A5Ox8U
2. Cryptsy
3. Bittfinex

If lesson not learned yet, what can we say, its the user fault and not anyone else.

Divinespark

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That's why decentralised initiatives like shapeshift and bitsquare are so important, and need to thrive and survive. I literally moved coin a off Gox a week before it went down. Talk about luck. Never again.

serjent05

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Quote from: oblivi on August 28, 2016, 11:21:09 AM

If I buy altcoins that don't even have wallets like agoras or maidsafe, how im supposed to not keep them at the exchange if its the only way to hold them?

Also I need some btc in exchange for quick movements, i cant wait for transactions.

This is one of the problem that you can't avoid. Having a coins that don't have a wallet at all where you can save in your computer. There is no other way but to leave it on exchange and pray that exchange will exist until you have sold or wallet is available for your coins. And the thing that we want to buy something yet it is not yet filled is also unavoidable.

septian44

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Quote from: oblivi on August 28, 2016, 11:21:09 AM

If I buy altcoins that don't even have wallets like agoras or maidsafe, how im supposed to not keep them at the exchange if its the only way to hold them?

Also I need some btc in exchange for quick movements, i cant wait for transactions.

the big risk to have coins without wallet how we can exchange to bitcoin and we do not know the price coin we will lose money and waste time we could like it.some times have wallet and no exchange same problems

oblivi

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If I buy altcoins that don't even have wallets like agoras or maidsafe, how im supposed to not keep them at the exchange if its the only way to hold them?

Also I need some btc in exchange for quick movements, i cant wait for transactions.

23dzmaz

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Quote from: 2legit2 on August 28, 2016, 10:36:34 AM

Quote from: CroSany on August 27, 2016, 05:59:40 AM

I dont know why i should not keep my coins in exchanger if i am carefully then i think that nobody cant stole my money from my wallet so i keep my money in exchanger really long time and it is still there in exchanger.

well i guess you didnt learn about the bitfinex hack, it should be never done because no one knows what might happen

That's why i never keep my bitcoins on exchanger, it's really risky because they can take your coins or a hacker hack that exchanger sites like happened to bitfinex.

wikenpp

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Quote from: 2legit2 on August 28, 2016, 10:36:34 AM

Quote from: CroSany on August 27, 2016, 05:59:40 AM

I dont know why i should not keep my coins in exchanger if i am carefully then i think that nobody cant stole my money from my wallet so i keep my money in exchanger really long time and it is still there in exchanger.

well i guess you didnt learn about the bitfinex hack, it should be never done because no one knows what might happen

By now most of us now that exchanges can't be the way to store coins. Minor exchanges are dangerous to scams of altcoins and even BTC lost.
The other exchanges; bitstamp, bitfinex can or will be hacked making your bitcoins just gone. Without any reason. So if you care about your money, you don't store your coins there.

2legit2

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Quote from: CroSany on August 27, 2016, 05:59:40 AM

I dont know why i should not keep my coins in exchanger if i am carefully then i think that nobody cant stole my money from my wallet so i keep my money in exchanger really long time and it is still there in exchanger.

well i guess you didnt learn about the bitfinex hack, it should be never done because no one knows what might happen

rababo

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It's not safe to put all of your bitcoin on exchanger, the exchanger might got hacked or turn into scam. It's better to put some of your bitcoin for trading on exchanger, and safe the rest on offline/online wallet.

bryant.coleman

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Normally I refrain from holding my coins in any of the exchange sites. But I have to say that previously I used to hold some of the coins in my BTC-e wallet. Held them for more than 2 years, and never faced any issue. In fact, the coins remained secure even when I lost BTC from some of my online wallets (Instawallet issue).

Rusmintan

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Quote from: Mastsetad on August 28, 2016, 05:18:01 AM

Quote from: CroSany on August 27, 2016, 05:59:40 AM

I dont know why i should not keep my coins in exchanger if i am carefully then i think that nobody cant stole my money from my wallet so i keep my money in exchanger really long time and it is still there in exchanger.

Such things does not happen everyday and not always with one exchange, today it is bitfinex tomorrow it can be any other, so for safety someone should just keep his funds in the wallet and just keep the funds in exchange which he is gonna use for trading.

I have lost some bitcoins in several exchanges. So I learned a lesson and keep very few bitcoin for trading in exchanges.

Mastsetad

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Quote from: CroSany on August 27, 2016, 05:59:40 AM

I dont know why i should not keep my coins in exchanger if i am carefully then i think that nobody cant stole my money from my wallet so i keep my money in exchanger really long time and it is still there in exchanger.

Such things does not happen everyday and not always with one exchange, today it is bitfinex tomorrow it can be any other, so for safety someone should just keep his funds in the wallet and just keep the funds in exchange which he is gonna use for trading.

virasog

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Quote from: serjent05 on August 27, 2016, 11:29:08 AM

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.

these are sample of the exchanges that were hacked and shutdown. Most users of these exchanges never get their stuff back. Though we can't witthdraw things we are using while trading, let us make sure that any amount that will not be use will be withdrawn from exchanges and keep it in our own wallets.

I think that it will teach those that think Crypto is a way to get away with whatever you want that there is still a system that has to be answered to. Bitcoin need support from a secure system too in order to avoid such incidents.

marky89

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Quote from: wuvdoll on August 27, 2016, 01:44:36 PM

Quote from: ~Bitcoin~ on August 27, 2016, 07:14:10 AM

Quote from: CroSany on August 27, 2016, 05:59:40 AM

I dont know why i should not keep my coins in exchanger if i am carefully then i think that nobody cant stole my money from my wallet so i keep my money in exchanger really long time and it is still there in exchanger.

I think you haven't used bitfinex and cryptsy before, because those who think same like you and have stored their bitcoin in those exchanger have already lost all. So if you have to keep bitcoin in exchanger for active trading try to keep bitcoin in multiple exchangers.

I have used them both and fortunately, my anxiety has saved me from losing my coins because everytime I'm done using the exchangers, I would transfer my coins to my Xapo wallet (since they aren't really that much all the time). I'm feel bad for those who have lost their coins to them, but I feel like this should be a good lesson for them, although they paid quite a hefty price for it.

Traders will keep trading. As much as I like the idea of decentralized trading, there is no option to trade BTC/fiat trustlessly. The USD and CNY markets are the highest volume by far. So traders will keep trading -- and the smart ones will spread their risk to multiple exchanges. For those that use exchanges just as wallets to hold coins, yes this will be a big lesson for them.

wuvdoll

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Quote from: ~Bitcoin~ on August 27, 2016, 07:14:10 AM

Quote from: CroSany on August 27, 2016, 05:59:40 AM

I dont know why i should not keep my coins in exchanger if i am carefully then i think that nobody cant stole my money from my wallet so i keep my money in exchanger really long time and it is still there in exchanger.

I think you haven't used bitfinex and cryptsy before, because those who think same like you and have stored their bitcoin in those exchanger have already lost all. So if you have to keep bitcoin in exchanger for active trading try to keep bitcoin in multiple exchangers.

I have used them both and fortunately, my anxiety has saved me from losing my coins because everytime I'm done using the exchangers, I would transfer my coins to my Xapo wallet (since they aren't really that much all the time). I'm feel bad for those who have lost their coins to them, but I feel like this should be a good lesson for them, although they paid quite a hefty price for it.

Topic: NEver keep all your coins on an exchange - page 23. (Read 25791 times)