Quick Noob Question about Traders | Bitcointalksearch.org

bohr

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Quote from: Capt00 on December 20, 2019, 06:42:54 PM

Quote from: bohr on December 20, 2019, 05:03:39 PM

Quote from: WolFx on November 10, 2019, 05:08:23 AM

I have 1.8 btc in total from two different trading sites. Its stored there. On somedays the websites work and is fully operational. hustrade.com and waxcoins.com

Does it have to do with server?

I know I might be answerings this question for myself, but it never hurts to ask.

If you have not done so already then get your coins out of those exchanges, no one knows them, you could have as well lost those coins since it is not rare for unknown exchanges to disappear with the funds of their clients, the next time that you decide to put your coins in an exchange make sure that it is one that is widely respected by the community and that has many positive reviews since it is critical the exchange is worthy of your trust since at that time they are the ones holding your coins.

BUt OP never gives an update in the thread which we can't think that he was able to withdraw his funds out there.

Though these two exchangers are new, we can't just judge that they are all fraud and scam sites. I know we are aware of this scheme but we need to find out also if they have good market reviews and see how they run their exchanges. Then, such a time to have our conclusion and disregard them if they looked fraud and scamming.

People have the right to do whatever they want with their coins, after all those are their coins and if they want to store them in a pair of exchanges with no reputation then they can do that, but in my case even if there is no evidence that those exchanges are frauds I'm not going to store my coins there because I know that once my coins are in a wallet I do not control I am completely dependent on the good will of the exchange to give me back my coins and I'm not going to give that power over me to a new exchange.

Rodeo02

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Quote from: rijaljun on December 22, 2019, 10:22:17 AM

Quote from: Capt00 on December 20, 2019, 06:42:54 PM

BUt OP never gives an update in the thread which we can't think that he was able to withdraw his funds out there.

Though these two exchangers are new, we can't just judge that they are all fraud and scam sites. I know we are aware of this scheme but we need to find out also if they have good market reviews and see how they run their exchanges. Then, such a time to have our conclusion and disregard them if they looked fraud and scamming.

Do you really think OP is storing his bitcoin on two very unpopular exchanges?

It is unbelievable, people with no knowledge about exchange is storing that much money on exchange with a very low popularity. Like, ow could he trust that exchange easily? that makes no sense.

for me that is a way of adevertising that exchange. Since its not popular there is a potential risk can happen. Since OP only say he has balance on that exchange and not even give screenshot of trades and holdings . Wr should not easily believe in what he says .

FanEagle

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Quote from: WolFx on November 10, 2019, 05:08:23 AM

I have 1.8 btc in total from two different trading sites. Its stored there. On somedays the websites work and is fully operational. hustrade.com and waxcoins.com

Does it have to do with server?

I know I might be answerings this question for myself, but it never hurts to ask.

Meehn, seriously, how do you guys even come up with all these dumb websites? Shocked

Times without number it’s being said that as a newbie you should start with sites like Coinbase. Coinbase is a friendly site and everyone knows about their exchange because they have been around for a long time and one of the most secured cryptocurrency exchanges we have.

I don’t even know how you came up with these two waxcoins and hustrade, did you even do a research before buying bitcoins and storing on these sites? Because from what I have seen, Waxcoins exchange is a big scam and they have a very bad rating on TrustPilot. Hustrade is also a scam, I will advise you to look for a way to withdraw your money or you will end up being sorry for yourself. Your choice though.

Mumbeeptind1963

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Quote from: WolFx on November 10, 2019, 05:08:23 AM

I have 1.8 btc in total from two different trading sites. Its stored there. On somedays the websites work and is fully operational. hustrade.com and waxcoins.com

Does it have to do with server?

I know I might be answerings this question for myself, but it never hurts to ask.

I dont want to disappoint you because me myself dont know that exchange or trading site either . Did you invest? Or did you put that amount in that trading site? Or you just earn it there? There are days that website is down? I think you should pull out all your money there and transfer it to a larger exchange, you may view it in coinmarketcap if the market you are saying is listed there.

Spaffin

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Quote from: Darooghe on December 24, 2019, 10:13:37 AM

Quote from: WolFx on November 10, 2019, 05:08:23 AM

I have 1.8 btc in total from two different trading sites. Its stored there. On somedays the websites work and is fully operational. hustrade.com and waxcoins.com

Does it have to do with server?

I know I might be answerings this question for myself, but it never hurts to ask.

Do not use new and unknown exchanges. there are so many negative stories about them in the history of cryptocurrency space. Many people couldn't withdraw their coins and many of them gone forever. About your case, this is the first time I am hearing about them, and both of them are down for now. Don't forget, decentralized currency does not work well with centralized systems. It removes all the security and freedom that Bitcoin was intended to provide. Always use popular and authentic centralized exchanges such as binance, yobit and coinbase, or use decentralized ones such as Bisq.

I believe that it is still necessary to use unfamiliar and new cryptocurrency exchanges if the user receives tokens from airdrop and bounty companies. But if we talk about daily trading or trading for a longer period with some of the rating cryptocurrencies, then it is definitely better to opt for authoritative resources, the rating of which can be checked at the coinmarketcap.

Darooghe

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Quote from: WolFx on November 10, 2019, 05:08:23 AM

I have 1.8 btc in total from two different trading sites. Its stored there. On somedays the websites work and is fully operational. hustrade.com and waxcoins.com

Does it have to do with server?

I know I might be answerings this question for myself, but it never hurts to ask.

Do not use new and unknown exchanges. there are so many negative stories about them in the history of cryptocurrency space. Many people couldn't withdraw their coins and many of them gone forever. About your case, this is the first time I am hearing about them, and both of them are down for now. Don't forget, decentralized currency does not work well with centralized systems. It removes all the security and freedom that Bitcoin was intended to provide. Always use popular and authentic centralized exchanges such as binance, yobit and coinbase, or use decentralized ones such as Bisq.

rijaljun

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Quote from: Casdinyard on December 23, 2019, 07:50:26 AM

Quote from: rijaljun on December 22, 2019, 10:22:17 AM

Do you really think OP is storing his bitcoin on two very unpopular exchanges?

Yes, he said it on his post.

Quote

It is unbelievable, people with no knowledge about exchange is storing that much money on exchange with a very low popularity. Like, ow could he trust that exchange easily? that makes no sense.

No but unfortunately this is the reality, some people will just store their bitcoin impulsively onto exchange sites which isn't credible and just heard it over and exchange sites that OP mentioned seems came out of a sudden. Anyway, 1.8btc is something to look forward to so I hope OP already withdrew his bitcoin.

It is impossible for me. Imagine yourself, you are a new in this world, you don't know where to store your money, would you buy Bitcoin somewhere with 15K USD and store it on two different unpopular exchanges (at same time) that you have no idea about? I would call it stupid, unless you are part of their marketing who acts like a stupid. And yes, for me, storing that amount of money on exchanges you don't know about (and you don't make any effort to find information about it before storing your BTC) is stupid and I just can't believe he is that stupid so I can't believe this is a true story.

Casdinyard

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Quote from: rijaljun on December 22, 2019, 10:22:17 AM

Do you really think OP is storing his bitcoin on two very unpopular exchanges?

Yes, he said it on his post.

Quote

It is unbelievable, people with no knowledge about exchange is storing that much money on exchange with a very low popularity. Like, ow could he trust that exchange easily? that makes no sense.

No but unfortunately this is the reality, some people will just store their bitcoin impulsively onto exchange sites which isn't credible and just heard it over and exchange sites that OP mentioned seems came out of a sudden. Anyway, 1.8btc is something to look forward to so I hope OP already withdrew his bitcoin.

rijaljun

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Quote from: Capt00 on December 20, 2019, 06:42:54 PM

BUt OP never gives an update in the thread which we can't think that he was able to withdraw his funds out there.

Though these two exchangers are new, we can't just judge that they are all fraud and scam sites. I know we are aware of this scheme but we need to find out also if they have good market reviews and see how they run their exchanges. Then, such a time to have our conclusion and disregard them if they looked fraud and scamming.

Do you really think OP is storing his bitcoin on two very unpopular exchanges?

It is unbelievable, people with no knowledge about exchange is storing that much money on exchange with a very low popularity. Like, ow could he trust that exchange easily? that makes no sense.

Edraket31

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Quote from: Pamadar on December 20, 2019, 11:53:12 PM

Quote from: sulendra12 on December 20, 2019, 07:49:10 PM

Quote from: WolFx on November 10, 2019, 05:08:23 AM

I have 1.8 btc in total from two different trading sites. Its stored there. On somedays the websites work and is fully operational. hustrade.com and waxcoins.com
Does it have to do with server?

I mean if you are sure with your assets in those exchanges, so why not? But have you ever a mind on your slightest time that you are using unknown exchanges to store your money? I would rather just move it to more "reputable" exchanges such as Bittrex or Binance or JUST move it to your local wallet instead.

Depends from how you fully support such exchange but always remember the big risk that can possibly triggered if the wallet you use is not that secured. Unless you have the direct communications with the owners or you are part of the team who's operating the business.

Be wise and think about securities and potentials, it's better to keep all your assets inside your local wallet and keep it safe.

Security and safety is always important, so don't compromise it to the exchange where you are trading at, as much as possible you should withdraw the funds you don't need much always, or if you are not going to trade for a week, then withdraw it too, don't rely on the security of the exchange as everything is possible about it.

sulendra12

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Quote from: Pamadar on December 20, 2019, 11:53:12 PM

Depends from how you fully support such exchange but always remember the big risk that can possibly triggered if the wallet you use is not that secured.

Most of the wallets are not secure, look at cryptopia and other exchanges whom got hacked its wallets and lost thousand of dollars because of these retarded users. It doesn't matter, the risks are still beside everyone when you do something.

Quote from: Pamadar on December 20, 2019, 11:53:12 PM

Unless you have the direct communications with the owners or you are part of the team who's operating the business.

Regardless of that, they don't care with users most often.

Pamadar

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Quote from: sulendra12 on December 20, 2019, 07:49:10 PM

Quote from: WolFx on November 10, 2019, 05:08:23 AM

I have 1.8 btc in total from two different trading sites. Its stored there. On somedays the websites work and is fully operational. hustrade.com and waxcoins.com
Does it have to do with server?

I mean if you are sure with your assets in those exchanges, so why not? But have you ever a mind on your slightest time that you are using unknown exchanges to store your money? I would rather just move it to more "reputable" exchanges such as Bittrex or Binance or JUST move it to your local wallet instead.

Depends from how you fully support such exchange but always remember the big risk that can possibly triggered if the wallet you use is not that secured. Unless you have the direct communications with the owners or you are part of the team who's operating the business.

Be wise and think about securities and potentials, it's better to keep all your assets inside your local wallet and keep it safe.

sulendra12

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Quote from: WolFx on November 10, 2019, 05:08:23 AM

I have 1.8 btc in total from two different trading sites. Its stored there. On somedays the websites work and is fully operational. hustrade.com and waxcoins.com
Does it have to do with server?

I mean if you are sure with your assets in those exchanges, so why not? But have you ever a mind on your slightest time that you are using unknown exchanges to store your money? I would rather just move it to more "reputable" exchanges such as Bittrex or Binance or JUST move it to your local wallet instead.

Capt00

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Quote from: bohr on December 20, 2019, 05:03:39 PM

Quote from: WolFx on November 10, 2019, 05:08:23 AM

I have 1.8 btc in total from two different trading sites. Its stored there. On somedays the websites work and is fully operational. hustrade.com and waxcoins.com

Does it have to do with server?

I know I might be answerings this question for myself, but it never hurts to ask.

If you have not done so already then get your coins out of those exchanges, no one knows them, you could have as well lost those coins since it is not rare for unknown exchanges to disappear with the funds of their clients, the next time that you decide to put your coins in an exchange make sure that it is one that is widely respected by the community and that has many positive reviews since it is critical the exchange is worthy of your trust since at that time they are the ones holding your coins.

BUt OP never gives an update in the thread which we can't think that he was able to withdraw his funds out there.

Though these two exchangers are new, we can't just judge that they are all fraud and scam sites. I know we are aware of this scheme but we need to find out also if they have good market reviews and see how they run their exchanges. Then, such a time to have our conclusion and disregard them if they looked fraud and scamming.

bohr

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Quote from: WolFx on November 10, 2019, 05:08:23 AM

I have 1.8 btc in total from two different trading sites. Its stored there. On somedays the websites work and is fully operational. hustrade.com and waxcoins.com

Does it have to do with server?

I know I might be answerings this question for myself, but it never hurts to ask.

If you have not done so already then get your coins out of those exchanges, no one knows them, you could have as well lost those coins since it is not rare for unknown exchanges to disappear with the funds of their clients, the next time that you decide to put your coins in an exchange make sure that it is one that is widely respected by the community and that has many positive reviews since it is critical the exchange is worthy of your trust since at that time they are the ones holding your coins.

nicolas1979

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Is that local or new exchanges never know about it. Save your asset exchanges is very risky keep use bank to do that. Meaning after transactions please switch into currency this step is for safety and recover asset value. Take all your asset and replace into exchanges we already know, such as Binance, Kucoin or Poloniex so we can give objective opinion.

Andrew Parker

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I believe we need to focus on learning IF we wish to go far in Trading. If we try to take short cuts or try to find overnight schemes, it will lead to failures. I am working with FreshForex, and I will simply suggest their Educational Setup, it should really help people.

South Park

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Quote from: Kevondo on December 02, 2019, 11:17:46 AM

New exchanges, if not fraud, will definitely give some attractive offers in the beginning to make investors become their customer but once it would start being used by many people, those offers will vanish and users will end up having same experience as any old exchange is giving. OP just needs to be more careful the amount that he is using to test exchange. Otherwise, there is no problem with his actions.

Another step that the OP did not perform was to do his own due diligence, I know that we would all like to believe that most people out there are honest and actually mean what they say, but we know better, this market is full of scammers that are doing everything that they can to get our money and we should not make it easier for them and if that means missing the opportunity to trade in a new exchange with great offers then so be it, wait until that exchange has built a good reputation for years before putting your money in there.

Kevondo

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Quote from: Wend on November 30, 2019, 05:33:09 AM

Quote from: South Park on November 29, 2019, 02:28:37 PM

Quote from: Kevondo on November 25, 2019, 10:06:49 AM

In my opinion, he should stick with the already existing exchanges that have been with us for years now. For availing the best features, coinbase, Binance and few others do the job well so what is the point in choosing new ones. If there is something unique about these exchanges, then he should share it with others too. Exchanges that own their customers and provide ways to compensate during compromise must be first choice.

Testing a new exchange is not that bad, after all you could discover a very good exchange that is just beginning its operations, the problem is that he seems to have deposited 1.8 bitcoins in those two platforms and that is simply too much money to try to test the features of an exchange, so it is really important that the OP gets his money out of those exchanges as quickly as possible and that he deposits his coins in his own wallet and that he only moves his coins to a reputable exchange when he has plans to make a trade.

We need someone to do it first or we need try if the exchange mention of OP was true or not or ask someone experience on that exchange. If the exchange new for us must better to doing something or think it first before we make some move. Actually their are lots of new exchange sites are not trusted or if we deposit some high amount maybe we are going regret on why we enter that kind of exchange.

New exchanges, if not fraud, will definitely give some attractive offers in the beginning to make investors become their customer but once it would start being used by many people, those offers will vanish and users will end up having same experience as any old exchange is giving. OP just needs to be more careful the amount that he is using to test exchange. Otherwise, there is no problem with his actions.

drlukacs

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Quote from: WolFx on November 10, 2019, 05:08:23 AM

I have 1.8 btc in total from two different trading sites. Its stored there. On somedays the websites work and is fully operational. hustrade.com and waxcoins.com

Does it have to do with server?

I know I might be answerings this question for myself, but it never hurts to ask.

I have never heard of these 2 exchanges. are you given bitcoin there and they ask you to sign up and then deposit it there as a transaction fee?
If it is so then you never follow its words. This is a trick that has been around for a long time and many people have lost a lot of money by trusting such lucky messages. Remember, money is never easy to make. If you encounter these types of invitations, you should share them with everyone and warn everyone before this trick.

Topic: Quick Noob Question about Traders (Read 1085 times)