Topic: NEver keep all your coins on an exchange - page 26. (Read 25791 times)
Yes it is really adviceble to always withdraw your earnings to your wallet for safety purpose because anytime, anything could really happen so you better be safe for your self than sorry.
Exactly. If you are a bitcoin holder, hold them in your core wallet installed in your own pc. That's the best option. If that's too heavy for your system, use electrum. If you don't trust electrum, use paper wallet. Exchanges come and go. You never know which one will be goxed next.
Not all of us have their own PC so they are forced to just trust this online wallet sites for them to profit in the movement of bitcoin. Are there any more suggestions? We know some just rely on their smartphones.
It is a good advice, exchanger now got a really bad reputation after bitfinex got hacked and the trust for exchanger has decreased significantly, so i think its better to keep your coin in wallet and divide your coin into different wallet
The only reason people should leave it there is direct trading, but if they are in USD its trickier to withdraw to legacy systems (Given the cost) and time.
if you are in BTC you should just withdraw, it takes no time at all to deposit. But we need better solutions for USD
if you are in BTC you should just withdraw, it takes no time at all to deposit. But we need better solutions for USD
yes agree with you and its true never keep coins on exchange
but for trading activity we keep some coins on exchange hope it won't scam
but we never know when they will greedy and scamming us
It is okay to leave your coins in an exchanger if you are only going to stop using the exchanger in just a few minutes or at most 2 hours. If you're not going to be using the exchanger overnight, then it's only common sense to withdraw all coins and not keep them there since we cannot guarantee that the exchanger would still be up and running by the next day.but for trading activity we keep some coins on exchange hope it won't scam
but we never know when they will greedy and scamming us
for me i always left my coins on exchange. i used c-cex since i start in bitcoin. because withdrawal fee is big if you in and out your money in an exchange. just use the right exchange so that you will not be scam or loss.. and learn to anticipate what gonna happen by reading news and article about them. if you feel that they have suspicious activity and a lot of maintenance. i think that is the right time to withdraw fund. but it is not advisable to always withdraw your fund in exchange because you must consider the fee. Just saying
Gox
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
But it is not said that all exchanges are scams or something, you need to remember that many exchanges have lost their funds,Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
but real life companies, not only btc.
So it is nothing new, however you are right ,it happens more often in the BTC area.
yes agree with you and its true never keep coins on exchange
but for trading activity we keep some coins on exchange hope it won't scam
but we never know when they will greedy and scamming us
It is okay to leave your coins in an exchanger if you are only going to stop using the exchanger in just a few minutes or at most 2 hours. If you're not going to be using the exchanger overnight, then it's only common sense to withdraw all coins and not keep them there since we cannot guarantee that the exchanger would still be up and running by the next day. but for trading activity we keep some coins on exchange hope it won't scam
but we never know when they will greedy and scamming us
Gox
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I don't trust any exchange website except one because here in my country i use only bitcoin wallet to hold my bitcoins it is also a exchange website where we can sell our bitcoin into fiat. So that they can able to deposit our money into banks because the bitcoin wallet i use now are partner in some banks where they use to deposit our money.Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I agree with you. I also only trust 1 market bitcoin website from my country and so far there is no issue on this website, but i'm not keep many coins on this site.
This is always the concern in exchanges. You will never know when they will run or shut down. It is always a reminder not to leave your coin in the exchange but the mere problem is that people who are trading in the exchange cannot put an order in their wallet might it be sell order or buy order so they have no choice but to leave those fund in there.
people never listen to this warning and they will always end up losing their money too because another exchange just goes down because of a hack or something like that. and there is nothing stopping people from doing it either.
Actually, it happened to me, I keep my 2.5btc on a exchange site. unfortunately it got hacked so all my btc is vanished and now I am became empty hand.I will request to those people who put their btc to exchange site please if you love your money then transfer to your bitcoin wallet now. otherwise you have to lose your btc and crying like me.
Gox
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I don't trust any exchange website except one because here in my country i use only bitcoin wallet to hold my bitcoins it is also a exchange website where we can sell our bitcoin into fiat. So that they can able to deposit our money into banks because the bitcoin wallet i use now are partner in some banks where they use to deposit our money.Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I agree with you. I also only trust 1 market bitcoin website from my country and so far there is no issue on this website, but i'm not keep many coins on this site.
This is always the concern in exchanges. You will never know when they will run or shut down. It is always a reminder not to leave your coin in the exchange but the mere problem is that people who are trading in the exchange cannot put an order in their wallet might it be sell order or buy order so they have no choice but to leave those fund in there.
people never listen to this warning and they will always end up losing their money too because another exchange just goes down because of a hack or something like that. and there is nothing stopping people from doing it either.
Gox
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I don't trust any exchange website except one because here in my country i use only bitcoin wallet to hold my bitcoins it is also a exchange website where we can sell our bitcoin into fiat. So that they can able to deposit our money into banks because the bitcoin wallet i use now are partner in some banks where they use to deposit our money.Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I agree with you. I also only trust 1 market bitcoin website from my country and so far there is no issue on this website, but i'm not keep many coins on this site.
This is always the concern in exchanges. You will never know when they will run or shut down. It is always a reminder not to leave your coin in the exchange but the mere problem is that people who are trading in the exchange cannot put an order in their wallet might it be sell order or buy order so they have no choice but to leave those fund in there.
Gox
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I don't trust any exchange website except one because here in my country i use only bitcoin wallet to hold my bitcoins it is also a exchange website where we can sell our bitcoin into fiat. So that they can able to deposit our money into banks because the bitcoin wallet i use now are partner in some banks where they use to deposit our money.Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I agree with you. I also only trust 1 market bitcoin website from my country and so far there is no issue on this website, but i'm not keep many coins on this site.
yes agree with you and its true never keep coins on exchange
but for trading activity we keep some coins on exchange hope it won't scam
but we never know when they will greedy and scamming us
but for trading activity we keep some coins on exchange hope it won't scam
but we never know when they will greedy and scamming us
Gox
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I don't trust any exchange website except one because here in my country i use only bitcoin wallet to hold my bitcoins it is also a exchange website where we can sell our bitcoin into fiat. So that they can able to deposit our money into banks because the bitcoin wallet i use now are partner in some banks where they use to deposit our money.Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I agree with you. I also only trust 1 market bitcoin website from my country and so far there is no issue on this website, but i'm not keep many coins on this site.
You never want to keep all you coins in one place. If someone gets access to you wallet in some way then you will have everything taken from you.
Why wouldn't you not keep it in different locations? That is the only thing that is the sensibly thing to do.
yeah maybe you should have some purse so that when there are people who access your wallet. you will not lose all of your money dude ? maybe first you have to add some security such as authentication. it will add security to your wallet Why wouldn't you not keep it in different locations? That is the only thing that is the sensibly thing to do.
Gox
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I don't trust any exchange website except one because here in my country i use only bitcoin wallet to hold my bitcoins it is also a exchange website where we can sell our bitcoin into fiat. So that they can able to deposit our money into banks because the bitcoin wallet i use now are partner in some banks where they use to deposit our money.Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
This is just like the same as coins ph here in my country you can exchange your bitcoin into fiat instantly and you are safe to deposit more money there because of there 2 factor authetication.. and verified account..
Traders using bots need to keep coins on exchanges.But hackers can take only hot wallet coins,Bittrex exchange use cold wallet, I trust it.
But what ever service they can use but if the exchange itself wanted to scam then what will the users will do, so it is not recommendable to use exchanges wallet to keep heavy bitcoin in it, just keep minimum bitcoin so that tomorrow if anything happens it wont affect your main wallet where you will keep all your bitcoin.
That's the main problem a lot people don't tend to take seriously. If they know their exchange keeps the far majority of their coins in cold storage, then they directy think it's safe against hackers. That's true to a certain extend, but as you also said, the factor of the exchange itself being the bad guy here, doesn't give you any protection if the coins are stored in cold wallets. They can choose to run with the coins at any time.
Having that said, if you have a balance on an exchange that you are constantly use to trade with, then the need for withdrawing these coins isn't there. The main point is that people should directly withdraw their coins to their own wallet as soon as their trading session is over. People that don't care about this and leave their coins in their exchange account anyway, are just stupid.
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.
after what happen lately with bitfinex I learned that lesson. nothing is secure as a wallet to store my coins at.
Gox
Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
I don't trust any exchange website except one because here in my country i use only bitcoin wallet to hold my bitcoins it is also a exchange website where we can sell our bitcoin into fiat. So that they can able to deposit our money into banks because the bitcoin wallet i use now are partner in some banks where they use to deposit our money. Cryptsy..
If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.
Traders using bots need to keep coins on exchanges.But hackers can take only hot wallet coins,Bittrex exchange use cold wallet, I trust it.
But what ever service they can use but if the exchange itself wanted to scam then what will the users will do, so it is not recommendable to use exchanges wallet to keep heavy bitcoin in it, just keep minimum bitcoin so that tomorrow if anything happens it wont affect your main wallet where you will keep all your bitcoin.
Traders using bots need to keep coins on exchanges.But hackers can take only hot wallet coins,Bittrex exchange use cold wallet, I trust it.
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