That is right I also keep in mind that thing for all exchanges and know that these are not from nature but from persons and no one knows that how much they are legit, I do not keep all of my coins in one exchanges if I have to trae with them and also I do not keep for longer my coins at there.
But I think fine for national licensed exchanges, like bitstamp, I don't know that I am right or not, your guidance will be appreciated.
Topic: NEver keep all your coins on an exchange - page 30. (Read 25791 times)
there are trusted exchanges where you can keep your coins, traders using bots need to keep coins on exchanges. Even if exchange is trusted it can be hacked but hackers can take only hot wallet coins, I definitely trust Bittrex exchange.
Having your coins sit in your exchange wallet for trading purposes is different than keeping your coins in an exchange just as some sort of wallet.I don't do much trading, but when I do I just send the coins to my exchange and do the trading.
Once I'm done trading I directly send the coins from the exchange back to my wallet for safety purposes. I never let a single Satoshi there.
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.
well I agree that the coins should be kept in the personal wallets. but why the exchange get disappear? I don't think a well developed and thousands of dollar business site will get disappear just like this.
these altcoin to bitcoin, and other bitcoin exchanging and trading sites, like yobit. bitrex, c-cex, kraken, coinsbank etc won't get disappear easily. they are running million of dollar business so they will surely protect their self too to be safe and active for long.
but yeah store your coins into your own wallet and send them to exchange everytime you sure you'll do trade.
there are trusted exchanges where you can keep your coins, traders using bots need to keep coins on exchanges. Even if exchange is trusted it can be hacked but hackers can take only hot wallet coins, I definitely trust Bittrex exchange.
Having your coins sit in your exchange wallet for trading purposes is different than keeping your coins in an exchange just as some sort of wallet.I don't do much trading, but when I do I just send the coins to my exchange and do the trading.
Once I'm done trading I directly send the coins from the exchange back to my wallet for safety purposes. I never let a single Satoshi there.
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.
Thanks for that information, but I even didn't hear that someone hold their bitcoins in exchanges. It's well known that this way is not so smart.
People read these suggestion like an article and do not take an action after reading this, I think this came important when people get scammed and learn a big lesson that using an exchange as their wallet is wrong, we understand that to exchange something we need to send the money there but after finishing the trade we should withdraw the funds.
I already made a thread similar to this one few weeks ago & I have to say that you can speak and do whatever you want to warn people but they just won't unless they get scammed and they learn the lesson (some people won't ! )
We know that there is " trusted exchanges" but those exchanges can be hacked like everything else on the internet so If they get hacked , you lose your coins , pretty much that simple .
We know that there is " trusted exchanges" but those exchanges can be hacked like everything else on the internet so If they get hacked , you lose your coins , pretty much that simple .
there are trusted exchanges where you can keep your coins, traders using bots need to keep coins on exchanges. Even if exchange is trusted it can be hacked but hackers can take only hot wallet coins, I definitely trust Bittrex exchange.
Yeah I do that too, keep my coin at exchange but learn from mtgox. i don't keep much just a little bit for trading and buying and i think we can't trust 100% with exchanger because this online anything 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.
Hmm? Why? Aren't they trusted? So do you suggest that exchanges websites are not for good? is that it? Well, actually what you have mentioned is not only applicable in bitcoins. It is applicable in all types of investments. In finance, we have that saying "Dont put all your eggs in one basket" It has a point right. It is similar to, dont put all your money in one investments because when we say investment, since it will earn a certain percentage there is a risk equivalent to it and if there is a risk, there is a chance that you might lose it or the value of it will be reduced.
there are trusted exchanges where you can keep your coins, traders using bots need to keep coins on exchanges. Even if exchange is trusted it can be hacked but hackers can take only hot wallet coins, I definitely trust Bittrex exchange.
That's certainly true, but I think it will not happen to the exchange site that already have thousands or hundreds of thousands of active users in their site, because they will put up a very tight security and I think it will be very difficult for hackers to do the harm and can only be done when they get their data from one of the users who use the site.
there are trusted exchanges where you can keep your coins, traders using bots need to keep coins on exchanges. Even if exchange is trusted it can be hacked but hackers can take only hot wallet coins, I definitely trust Bittrex exchange.
Don't Put Your All Coins On Exchange Because there is a Risk of Losing Funds. So put Your all Funds in local Wallets because you have Total Control of your Funds.....
Good advice friends, because I also feel when storing large amounts of funds in the exchanger quite risky. If the site is down for maintenance then we have to wait for the repair process is completed. Moreover, if the exchanger is transformed into the scam sites
then you will lose your money. It is better to use a personal wallet, because we can access the private key from the wallet.
yes that is an important issue to be discuss here. i think we should always select a standard and tr usable exchange only. because there is more chances to lose your money if you are not a verified and standard exchange for your bitcoin..
Don't Put Your All Coins On Exchange Because there is a Risk of Losing Funds. So put Your all Funds in local Wallets because you have Total Control of your Funds.....
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.
What about people like me who have less than 1 btc and saving up little amount to axd up to 1 btc? I get paid every week from signature campaigns.I have a laptop on which I can't download wallet, where should I keep my coins that I receive every week? 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.
Now the question is: How do you avoid keeping some amount of coins in an exchange if you are a trader?
Only keep what you can afford to lose is the answer. Do your trade and withdraw bit by bit. If you are a pro trader thats a real tricky answer. Make sure you are good enough to make tons of losable coins i guess.
Now the question is: How do you avoid keeping some amount of coins in an exchange if you are a trader?
There's a bunch of scam accusations against YoBit which is one of the leading exchanges at the moment. Some people didn't receive the deposit money, some people can't withdraw money, not to mention, the support is not even responding to problems like this. Some even believe that YoBit is very likely to pull out a cryptsy scam. I think most alt coins have their own downloadable offline wallet so you might wanna use that instead of storing your coins all in an exchange website.
keeping your coins in different exchange platform is normal it is because we trade our coins to make it grow.
Perhaps the people behind this topic is just giving a tip of advice according to his/her experience or maybe he/she concern to the traders who lost their coins in the exchange. And I don't see any wrong about the topic.
Perhaps the people behind this topic is just giving a tip of advice according to his/her experience or maybe he/she concern to the traders who lost their coins in the exchange. And I don't see any wrong about the topic.
This should not even be a topic anymore, I'm sure all the beginner guides to bitcoin mention it in the top 10 things not to do with bitcoin.
People will never learn though, i got a new debit card a couple of weeks ago and it actually still had written in big letters DO NOT GIVE YOUR PIN CODE TO ANYONE, i at least thought people would have learnt that one by now.
People will never learn though, i got a new debit card a couple of weeks ago and it actually still had written in big letters DO NOT GIVE YOUR PIN CODE TO ANYONE, i at least thought people would have learnt that one by now.
haha I agree but well there are people who just don't care, but actually whe should remind new comer for this. One of the introduction about bitcoin is security, newbie thought exchanges is part of that secruity LOL. Funny but it is true, so no harm in reminding them I think. But for those hard headed who keep their coin in exchange won't blame anyone if they lost all their coins
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