trust? no way. but sometimes there's no way to stay in fiat for a couple days waiting on a down leg.
same. on longer swings down, i wire out fiat, but on short moves, nothing else to be done.
Topic: Poll : do you trust an exchange to hold your bitcoins ? - page 4. (Read 9188 times)
same. on longer swings down, i wire out fiat, but on short moves, nothing else to be done.
No way i put my coins in exchange more than 12 hours
i'll withdraw it when i'm done trading
too many scam exchange, especially in altcoin trading
i'll withdraw it when i'm done trading
too many scam exchange, especially in altcoin trading
Nope, as the old saying goes, if you don't have the private keys, you don't have your bitcoin. 
What I personally do : I own about 30 btc, and I let them sit on Kraken.
I keep them there for several reasons :
- I dont trust myself to keep a paper wallet safe for a long time.
- I mostly trust Kraken, in particular because they have automated audits.
- I want to be ready to sell quickly in case of a huge crash.
I keep them there for several reasons :
- I dont trust myself to keep a paper wallet safe for a long time.
- I mostly trust Kraken, in particular because they have automated audits.
- I want to be ready to sell quickly in case of a huge crash.
Just wow... you are gonna get a BIG lesson in counter-party risk someday.
Another option would be to use the second market bitcoin fund. You would need to pay some fees but the counterparty risk would be much less.
What I personally do : I own about 30 btc, and I let them sit on Kraken.
I keep them there for several reasons :
- I dont trust myself to keep a paper wallet safe for a long time.
- I mostly trust Kraken, in particular because they have automated audits.
- I want to be ready to sell quickly in case of a huge crash.
I keep them there for several reasons :
- I dont trust myself to keep a paper wallet safe for a long time.
- I mostly trust Kraken, in particular because they have automated audits.
- I want to be ready to sell quickly in case of a huge crash.
Just wow... you are gonna get a BIG lesson in counter-party risk someday.
I would not hold more than 10 BTC on ANY exchange.
I don't usually trust anyone, same goes with exchanges but I do keep some altcoins on them, why? Because I can't download all of their wallets and install them on my pc, so its a safety precaution, and I keep them their until I can get some profits outta them and then I sell and move on to next one or turn to btc and withdraw.
Totally agree on the altcoin wallets. I don't trust a lot of the developers or the software. Lots of BTC wallet draining malware out there. It's too bad, because the best way to get in on an alt pump is to buy before it hits an exchange.
It would require extra effort, but if you keep your altcoin wallets completely separate from your BTC wallet, you should be ok. Ideally, it would be best to use two different computers, or at least two separate OS installations on the same machine. But at the very least, if you keep your BTC in cold storage and make sure you don't have malware when you access it, you should be pretty safe.
Do I trust them? No, why would I?
Do I do it? Yes, I'm an idiot
Do I do it? Yes, I'm an idiot
Lo, I am the same way bro
Its very hard to trust an exchange. Sometimes its a a necessary evil as others have said when you have to trade.
I've had a few coins lost on those bad apple exchanges. Not a great feeling.
I've had a few coins lost on those bad apple exchanges. Not a great feeling.
Trust an exchange? Never. I learned early on with BTC that third parties are a no-no if you want to keep your money safe. So, unfortunately, while I trade, my money is not safe. But I know that, and the risk-reward is worth it for me.
I don't usually trust anyone, same goes with exchanges but I do keep some altcoins on them, why? Because I can't download all of their wallets and install them on my pc, so its a safety precaution, and I keep them their until I can get some profits outta them and then I sell and move on to next one or turn to btc and withdraw.
Totally agree on the altcoin wallets. I don't trust a lot of the developers or the software. Lots of BTC wallet draining malware out there. It's too bad, because the best way to get in on an alt pump is to buy before it hits an exchange.
To answer OP.
Nope.
After seeing god knows how many exchanges get "hacked" or hacked, or close down... why would any body trust them is the real question....
Nope.
After seeing god knows how many exchanges get "hacked" or hacked, or close down... why would any body trust them is the real question....
Whichever exchange service. If the Exchange with a worldwide reputation is one thing and another private owner.
I don't usually trust anyone, same goes with exchanges but I do keep some altcoins on them, why? Because I can't download all of their wallets and install them on my pc, so its a safety precaution, and I keep them their until I can get some profits outta them and then I sell and move on to next one or turn to btc and withdraw.
Totally agree on the altcoin wallets. I don't trust a lot of the developers or the software. Lots of BTC wallet draining malware out there. It's too bad, because the best way to get in on an alt pump is to buy before it hits an exchange.
I don't usually trust anyone, same goes with exchanges but I do keep some altcoins on them, why? Because I can't download all of their wallets and install them on my pc, so its a safety precaution, and I keep them their until I can get some profits outta them and then I sell and move on to next one or turn to btc and withdraw.
Depends on an exchanger. Maybe its good to keep btc at different exchanges at the same time.
Definitely. I never keep all my eggs in one basket. For the coins I keep out of cold storage, I spread them out between BTCE, Bitfinex, and Bitstamp. I don't feel great about any of them, but there's no other way to trade.
sure, that works for swing traders. i keep some coins/fiat on the exchanges for day trading, though. if you're going to be making multiple trades in a day, or over the course of a couple days, it makes sense to keep coins on the exchanges.
never.
but when i do, it's btc-e.
but when i do, it's btc-e.
trust an exchange? ermm, heard of mtgox?
i don't trust em, but i use em, sparingly...
i don't trust em, but i use em, sparingly...
Depends on an exchanger. Maybe its good to keep btc at different exchanges at the same time.
Definitely. I never keep all my eggs in one basket. For the coins I keep out of cold storage, I spread them out between BTCE, Bitfinex, and Bitstamp. I don't feel great about any of them, but there's no other way to trade.
sure, that works for swing traders. i keep some coins/fiat on the exchanges for day trading, though. if you're going to be making multiple trades in a day, or over the course of a couple days, it makes sense to keep coins on the exchanges.
Depends on an exchanger. Maybe its good to keep btc at different exchanges at the same time.
Definitely. I never keep all my eggs in one basket. For the coins I keep out of cold storage, I spread them out between BTCE, Bitfinex, and Bitstamp. I don't feel great about any of them, but there's no other way to trade.
Sure, but there are drawbacks to that. For one thing, personally, I play volatility spikes. I want my orders on the book to scalp those overbought moves and quickly rebuy. Vice versa. And in general, waiting for 3-6 confirmations during volatile times can be very frustrating. Beyond that, when hedging by holding fiat, there is nowhere to hold it but an exchange (unless you want to remove it from the BTC economy for an extended period of time -- again, missing out on big moves).
And hot wallets carry their own risks as well. If your coins are not cold, consider them vulnerable.
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