Topic: NEver keep all your coins on an exchange - page 7. (Read 25791 times)
the exchanges are always an big risk to put our money on nowlt only the price matters but also the security of that exchange. as we have seen many exchanges got hacked and many are hacked multiple times like btc-e and each time it because more and more secjre then the last time
The only exchange that had been hacked and were able to recover were poloniex, i do believe they had paid already all the funds taken in the past, nowadays security is their main concern, others as bitfinex hasnt a license to work as some had reported, soo you choose where you wanna to risk your bitcoin at reputable or at others.
Poloniex is not the only exchange that refunded its users. As far as I remember, BTC-e also refunded users of a minor security breach.
In both cases the funds lost did amount only for a fraction of the funds held. Therefore it was easy to do a refund. So users have been lucky.
I don't think that you truly can distinguish between "reputable" and "other" exchanges from the outside. An exchange is only "reputable" as long as it is not hacked. There is never a guarantee that the system is as secure as it is claimed to be and that all employees are honest.
So it doesn't matter at which exchange you store your funds, you're still taking a significantly higher risk than storing them in a private wallet which you control.
ya.ya.yo!
The only exchange that had been hacked and were able to recover were poloniex, i do believe they had paid already all the funds taken in the past, nowadays security is their main concern, others as bitfinex hasnt a license to work as some had reported, soo you choose where you wanna to risk your bitcoin at reputable or at others.
It is true that never keep your all coins on an exchange.
Because there are some exchange having a problem
Because there are some exchange having a problem
i will keep half and sell half.
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I agree. Because first maybe another exchanger have a better offer (talking about the price of btc), second the exchanger hacked you will lose all your bitcoin and that's wouldn't be good.
if the exchanger were hacked there's still a chance for you to recover the loss or the exchangers will be responsible of your loss because it's their fault even they can't fully recover your loss but you will still get your funds,but if the exchanger just turning out scamming people,they will ran away with your money and there's nothing you can do 
I usually do not keep more than 10% of my funds on any exchange. You can’t be always sure about the security of your funds so having a secure cold storage is what I trust and use to store my bitcoins. There is 2-factor authentication enabled but still it does not guaranty the full proof safety and it has nothing to do with the hacking of the website network. The best way to trust on self and maintain good and secure cold storage.
That is also I a doing, not all bitcoin is keep on exchanges but of course as a trader we have unds on standy at different exchanges, so that when there is opportunity for some coins,we can buy fast and trade. Just a minimal fund for trading and also a fund that I can afford to lose.
Yes! One should not keep all coins in an exchange since it is very risky. We dont know if it is still there tommorow as we wake up. And although some exchange are very secure still there are lots of hackers that are willing to steal your coins. All i can advice is to invest what you can afford to lose.
I usually do not keep more than 10% of my funds on any exchange. You can’t be always sure about the security of your funds so having a secure cold storage is what I trust and use to store my bitcoins. There is 2-factor authentication enabled but still it does not guaranty the full proof safety and it has nothing to do with the hacking of the website network. The best way to trust on self and maintain good and secure cold storage.
But putting that aside, you pointing your focus at the security of an exchange is always a good thing, but nowadays operators performing inside jobs pose a much bigger threat than hackers.
Look at MtGox, MintPal, Cryptsy, it were the operators that have made these exchanges go down with a lot victims as result. I believe Bitfinex is no difference. It was an inside job.
I agree. Because first maybe another exchanger have a better offer (talking about the price of btc), second the exchanger hacked you will lose all your bitcoin and that's wouldn't be good.
explicitly. unless there are provable evidences that they will be responsible to their debt and/or to chase back the fund from hacking if went bankrupt by any reason. exchange bankruptcy could ruin bitcoin's economy and trustless system would be more likely faithless.
I agree. Because first maybe another exchanger have a better offer (talking about the price of btc), second the exchanger hacked you will lose all your bitcoin and that's wouldn't be good.
Yes! One should not keep all coins in an exchange since it is very risky. We dont know if it is still there tommorow as we wake up. And although some exchange are very secure still there are lots of hackers that are willing to steal your coins. All i can advice is to invest what you can afford to lose.
I usually do not keep more than 10% of my funds on any exchange. You can’t be always sure about the security of your funds so having a secure cold storage is what I trust and use to store my bitcoins. There is 2-factor authentication enabled but still it does not guaranty the full proof safety and it has nothing to do with the hacking of the website network. The best way to trust on self and maintain good and secure cold storage.
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.
It is true that never keep your all coins on an exchange, because there are some exchange having a problem in the host sometimes. But you can trade in any trading exchange platform.Just make sure after you grow your coins there withdraw it at once and transfer it in your bitcoin wallet like bitcoin core.
i always withdraw my coin to my private wallet when i want to go sleep and deposit it back to exchanger when i want to trade , altough must pay some fee i think it is better than something bad happen with my money
I think thats the safe way. You will not be nervous if trading site is being attack or hijack when you are in sleep. But it need more work and suffer from trading site's fees. If back your funds is safe in sound. It is always depending on your choice on what will you choose Yes! One should not keep all coins in an exchange since it is very risky. We dont know if it is still there tommorow as we wake up. And although some exchange are very secure still there are lots of hackers that are willing to steal your coins. All i can advice is to invest what you can afford to lose.
That is very risky if you don't know the exchange that you will put all of your coins but if you trust them and they have valid permits from the government where they are basing.
I guess that is going to be a good way to trust them and put your all your coins to them and they have a legit and physical office.
But if you are just using an online wallet and you are far from them, then don't just put all of your coins.
In our country, there is a limit of insured amount so if bank will close and I have more than the limit then I am a loss.
Say for example, I have 10 million dollars, I need to deposit that amount in 20 banks or 20 bank accounts if bank will allow different accounts in one bank. This example is based on the insurance of $500,000. This is just an example to qualify the above suggestion..
i always withdraw my coin to my private wallet when i want to go sleep and deposit it back to exchanger when i want to trade , altough must pay some fee i think it is better than something bad happen with my money
Yes! One should not keep all coins in an exchange since it is very risky. We dont know if it is still there tommorow as we wake up. And although some exchange are very secure still there are lots of hackers that are willing to steal your coins. All i can advice is to invest what you can afford to lose.
That is very risky if you don't know the exchange that you will put all of your coins but if you trust them and they have valid permits from the government where they are basing.
I guess that is going to be a good way to trust them and put your all your coins to them and they have a legit and physical office.
But if you are just using an online wallet and you are far from them, then don't just put all of your coins.
Yes! One should not keep all coins in an exchange since it is very risky. We dont know if it is still there tommorow as we wake up. And although some exchange are very secure still there are lots of hackers that are willing to steal your coins. All i can advice is to invest what you can afford to lose.
Correct the risk of putting your coin in one exchange was too high than spread your coin in multiple exchange or investment, we always remember that there is a big exchange before that it turn to scam.and i also agree that we need to invest only the amount that we can afford to lose.
Yes! One should not keep all coins in an exchange since it is very risky. We dont know if it is still there tommorow as we wake up. And although some exchange are very secure still there are lots of hackers that are willing to steal your coins. All i can advice is to invest what you can afford to lose.
I have heard stories of people lossing millions of dollars by keeping their coins in exchanges. There was this guy that lost like 300 BTC in MtGox when they where 1000 dollars per coin, and it keeps happening in cryptsy, mintpal etc.
I had coins stolen from two exchanges but that was in the early days, now since having 2fa I never had a problem again. I think the extra layers of security really helps if you want to secure your bitcoins and fr sure never have them on one exchange only.
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