NEver keep all your coins on an exchange - page 24.

serjent05

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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.

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we can't witthdraw things we are using while trading, let us make sure that any amount that will not be use will be withdrawn from exchanges and keep it in our own wallets.

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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.

I think with what happening in court with Cryptsy, there may be less need of fear in using some of the established exchanges. Many people think it was a sign that the system was failing.

Digitalbitcoin

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Folk alway keep amount in wallet whatever needed for trading. Except than more amount you can store on your own wallet.

But this solution for long duration away from platform. While keeping amount in own wallet will be always safe.

~Bitcoin~

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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.

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.

clickerz

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Quote from: agamasrori on August 27, 2016, 06:43:28 AM

The most save place to keep bitcoin is in the bitcoin lokal wallet. To the all bitcoin user who doing trade don't save all your'e money in an exchange and in long term. Just withdraw youre profit or youre all money after trade. Put all bitcoin in exchange is so risky. There is gonna be risk in any bussines,is'nt it? If you wanna gain youre bitcoin you must take the risk. Bitcoin exchanger is all you need.

i agree not to put all bitcoins in one wallet. You can also spread to other exchanges and you can do arbitrage trading or in your local wallet. If you save on one wallet and that exchange will be hack or closed, you lose all your bitcoins.

Viyamore

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Quote from: agamasrori on August 27, 2016, 06:43:28 AM

The most save place to keep bitcoin is in the bitcoin lokal wallet. To the all bitcoin user who doing trade don't save all your'e money in an exchange and in long term. Just withdraw youre profit or youre all money after trade. Put all bitcoin in exchange is so risky. There is gonna be risk in any bussines,is'nt it? If you wanna gain youre bitcoin you must take the risk. Bitcoin exchanger is all you need.

Yes,thats it .also it is good not all bitcoins on exchange site.i used to add bitcoins when i used to need some to buy on altcoins .but when i got some profit cashout then roll some earnings .i do that for smarter and safe way to earn and to save .taking risk is good but it is much good if theres a way to risk smartly .

agamasrori

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The most save place to keep bitcoin is in the bitcoin lokal wallet. To the all bitcoin user who doing trade don't save all your'e money in an exchange and in long term. Just withdraw youre profit or youre all money after trade. Put all bitcoin in exchange is so risky. There is gonna be risk in any bussines,is'nt it? If you wanna gain youre bitcoin you must take the risk. Bitcoin exchanger is all you need.

CroSany

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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.

iv4n

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Smart people should know how to keep their money. I think we talking about safe keeping, so not jist exchange site, there is other services that can easily crash in some moment. People should be ready for worst situation that can happen, that way everyone will try to protect their money in best possible way. I think its not hard to spend 10 minutes and download some good walllet, that 10 minutes can save you from big agony. When I started with bitcoins transaction fee was too high for my earning, and I felt how I lose a lot on that, its better to protect your money with little losses, then to stay without all money you had.

renem

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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.

For me i never stock my coins / bitcoin / some alt coins in my exchange account because i don't know what will happen next or what will happen tomorrow because some exchange now are like other that they going to attract people to use their website and then disappear like a bubble then going to make some story that they hijack or something

ranlo

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Quote from: pereira4 on August 15, 2016, 08:52:43 AM

This is pretty obvious for anyone that has been using Bitcoin for a while in 2016, but the people that like to do trading are forced to leave some coins on the exchanges otherwise you miss opportunities.

The general rule is that you never risk more than you can afford to lose. If an exchange loses 100% of your funds and that will negatively impact your life, you shouldn't have money there or be trading in the first place. You should be fully prepared to lose every satoshi you have on an exchange. If not, keep it in your own wallet.

JessicaSe

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Quote from: fravia on August 18, 2016, 02:26:16 PM

Quote from: rezilient on August 15, 2016, 05:28:46 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.

That is freaky prediction right there dude, 1 month and a bit later and boom. Who is running next? lol

yeah, the more time passes, the more exchanges seem to be running away with people deposits, that is really horrible, no one can be trusted

That's true but you can invest there for trading but make sure that you withdraw your profits on regular basis to minimize the risks.

coinsocieties

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The best place to keep your coins is in a paper wallet or a wallet that you have the private keys to. There is no reason to keep them on an exchange when it comes to bitcoin, because no one will ever know how fast the exchange will collapse with the wrong leadership behind it or if they make one stupid move. I keep my bitcoin on a few different wallets which allow me to take less risk than others who leave all their eggs in one basket.

hieu81

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I think, should be enough just to exchange BTC on-demand use. And I have kept since the loss is unlikely to recover.

fravia

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Quote from: rezilient on August 15, 2016, 05:28:46 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.

That is freaky prediction right there dude, 1 month and a bit later and boom. Who is running next? lol

yeah, the more time passes, the more exchanges seem to be running away with people deposits, that is really horrible, no one can be trusted

Mastsetad

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Quote from: Wandering Soul~ on August 16, 2016, 04:30:15 AM

People love to keep coins in an exchange because you can keep many coins in a single amount. Making an account of every coin is a tiring job though but people should prioritize the safety of their coins first

No one needs to have accounts of every coin they trade, because people usually buy different coins for trading them and they just sell them for bitcoins when their prices are up, so someone would just need a bitcoin wallet for keeping his funds.

ajun96

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Quote from: coinzat on August 14, 2016, 04:55:29 AM

never keep ANY coins in an exchange. this is the true advice here.
after what happen lately with bitfinex I learned that lesson. nothing is secure as a wallet to store my coins at.

I think not only on the exchange? wallet even though owned by a third party may be a scam. so you have to be careful with third party sites despite their trusted sites does not mean they do not turn out to be a scam aka someday. so I think it's better to save on desktop wallet

Wandering Soul~

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Wolf

People love to keep coins in an exchange because you can keep many coins in a single amount. Making an account of every coin is a tiring job though but people should prioritize the safety of their coins first

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Quote from: Oralmat on August 15, 2016, 08:51:49 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.

Yes, you are right, Bitfinex has given us a lesson that we should avoid to keep our coins on the exchange. I am surprised that it is second time happen so why people are doing it. Personally i refer to safe my bitcoins into local wallet and i believe it is more than better Bitfinex.

I thought cryptsy was a lesson enough back then? Well, for older bitcoin users that is.
For new bitcoin users, this was a really big of an impact and a lesson learned the hard and expensive way to never keep the coins in an exchanger (also in casinos).
We should not forget to benefit from the basic feature of bitcoin : Own your money / True ownership of our wealth.

Mastsetad

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Quote from: mobnepal on August 15, 2016, 11:11:23 AM

Quote from: Mastsetad on August 15, 2016, 05:38:43 AM

Keeping all your coins in a exchange is always risky as we never know what happens to that exchange, like what happened to bitfinex, too many people lost their coins when the hackers hacked the exchange and took away all the coins, so such things happen sometimes that is why keeping your coins in a wallet would be the best way.

This is not always practical even web wallets were hacked several times or they were ran away scamming lots of people. And also traders have to keep some coins in exchanges to do daily trading and profit from it so even though they know it is risky they will keep almost all they have in exchangers.

Web wallets are also not safe for holding a lot of bitcoins, if you know you have a large number of bitcoin then you should not take the risk of keeping them in a web wallet but keep them in a hardware wallet like electrum or bitcoinCore etc, or just split them into parts in different wallets to be safer because if you get a problem in one wallet you wont lose all your coins at once.

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