Quick Noob Question about Traders - page 3.

gabbie2010

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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 can deduce from your post about the servers of those exchanges not functional at times well this is a warning signal that their server might go off completely someday thus your hard earned bitcoin would have gone with it, as a trader withdraw your bitcoin to a reputable and trustworthy exchange based on your research in this forum at least your bitcoin would be safer although its not advisable to store your coins in an exchange

wajik-tempe

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Quote from: MI6 on November 20, 2019, 11:09:44 AM

Quote from: Iceblast on November 20, 2019, 09:59:33 AM

don't you feel you don't risk putting 1.8btc on an exchange that is not known to many people like you mentioned above. I'm just trying, you must have a hardware wallet to keep your 1.8 btc in a safe position. because anything can happen and the risk to your 1.8 btc is huge

A lot of people i see have said that too, even in big exchanges sometime it is still risky because we don't have control with our money in there. What will happen if we save that big amount of money and then the site get hacked or suddenly closed without let their users withdraw their money. At least maybe online wallet or maybe if afford to use hardware wallet, will be good to save bitcoin.

I think if we place it on big volume exchange like binance it's quite safe to store 1.8 btc , because there are a lot of people there hold more that 1.8 btc so the hackers will target to other people if they really want to hacks.
But hardware wallet is never a wrong decission, it's more safe and if we don't want to trade the bitcoin we better to save it in hardware wallet

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Quote from: MI6 on November 20, 2019, 11:09:44 AM

Quote from: Iceblast on November 20, 2019, 09:59:33 AM

don't you feel you don't risk putting 1.8btc on an exchange that is not known to many people like you mentioned above. I'm just trying, you must have a hardware wallet to keep your 1.8 btc in a safe position. because anything can happen and the risk to your 1.8 btc is huge

A lot of people i see have said that too, even in big exchanges sometime it is still risky because we don't have control with our money in there. What will happen if we save that big amount of money and then the site get hacked or suddenly closed without let their users withdraw their money. At least maybe online wallet or maybe if afford to use hardware wallet, will be good to save bitcoin.

Its been mainly suggested for thousand of times that never store your coins on an exchange. No keys then your coins isnt fully your possesion but we cant really blame others on storing most of the time on exchange wallet because its quite hassle on withdrawing every now and then plus on the fees. Also if you do have ready funds on an exchange you can easily buy coins if there were opportunities. Its do really have some pros too but its our choice if we can handle such risk.

MI6

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Quote from: Iceblast on November 20, 2019, 09:59:33 AM

don't you feel you don't risk putting 1.8btc on an exchange that is not known to many people like you mentioned above. I'm just trying, you must have a hardware wallet to keep your 1.8 btc in a safe position. because anything can happen and the risk to your 1.8 btc is huge

A lot of people i see have said that too, even in big exchanges sometime it is still risky because we don't have control with our money in there. What will happen if we save that big amount of money and then the site get hacked or suddenly closed without let their users withdraw their money. At least maybe online wallet or maybe if afford to use hardware wallet, will be good to save bitcoin.

JC btc

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Quote from: Iceblast on November 20, 2019, 09:59:33 AM

don't you feel you don't risk putting 1.8btc on an exchange that is not known to many people like you mentioned above. I'm just trying, you must have a hardware wallet to keep your 1.8 btc in a safe position. because anything can happen and the risk to your 1.8 btc is huge

That's really a huge amount of money for me, imagine if you hold it and will just cash out/withdraw it in a decade or more, imagine how much can it become, so we should be very careful with it, and I am happy that the OP did a good job in asking here as there were lots of experts here who can make advice to him, and of course safety your fund first.

Iceblast

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don't you feel you don't risk putting 1.8btc on an exchange that is not known to many people like you mentioned above. I'm just trying, you must have a hardware wallet to keep your 1.8 btc in a safe position. because anything can happen and the risk to your 1.8 btc is huge

bettercrypto

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Quote from: goaldigger on November 12, 2019, 08:22:47 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.

You hold big amount of bitcoin on unfamiliar exchange, mate you are risking big money on that and my advice if you can still withdraw your money please do it now and transfer it into good exchange before you experience big problem on that exchange. Btw I don't get what you are asking for? If the server of that exchange is having a problem then its very alarming or if that exchange works well until now, follow the advice of many users here always go for a trusted exchange.

Yeah! That is right.
Keeping bitcoin or even altcoins on exchange are really risky. You should find a wallet compatible to the cryptocurrency you will store. Imtoken and MEW OR ELETRUM. We can install any kinds of wallet depending on our taste. But we should avoid holding them on exchange. Specially those exchange that is zero trusted and red flag.

South Park

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Quote from: adzino on November 15, 2019, 03:09:47 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.

Never heard of those two exchanges. You stored your coins over there? Don't! That is one of the biggest mistake you are making. No matter if it was some well known famous exchange, never store your coins over there. There is no guarantee that your coins will be safe! Move it somewhere safe before its too late. You still have time.
One of the reason why I tell people to not store coins in an exchange is because of those downtime. You might not get access to your coins when you need it most. Also read about all those exchanges getting hacked!

I have never stored my coins in an exchange however when I was relatively new in this market I used an online wallet and this was quite common, it was difficult to access to my coins due to server issues and at some point I had enough and I decided to install a wallet in my computer and sent my coins there, but this is an even bigger issue, no one knows those exchanges and there is a high likelihood that anyone that deposits his coins there will have problems getting them out.

Vertex_ICO

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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.

So, I looked into what you're talking about. I also can't get on hustrades.com, and my browser says that it's because of a server issue. I could get on waxcoins.com though. Either way, if you're having problems I'd move your crypto to a reputable wallet - rather be safe than sorry.

teosanru

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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.

These are two exchanges with pretty less volume around the world. Unless they are the most popular exchange in your country or maybe provide you with fiat withdrawals, they shouldn't be used for handling such large sums of btc. Choose any exchanges among top 10 exchanges based on volume. Atleast they provide good amount of volume and are safe too. Try Binance you can withdraw upto 2 BTC a day without KYC and it's pretty popular and safe too.

coinfinger

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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.

The website might be operating and fully functional now, but you have to be very careful about storing your coins on those exchanges, I understand that you are trading with the money and sometimes could require that you have your money in the trading platform, but the one I am against is saving the money you are not using for trading on the exchange wallet because it is very risky as they could get hacked by some of these heartless hackers.

It would be better that you make use of an external wallet in saving your money which hardware wallet would still be the best option. I don’t know how reliable this exchange is because I don’t know them, but notwithstanding, don't save money on them, if binance can be hacked, there is no exchange that cannot be hacked.

LouVandetta

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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

Never heard one of them even once before. You're trusting your assets which is quite big in some kind of fishy exchange? Why don't you use a more trusted exchanges out there? Why risked yourself with those unfamiliar exchanges. Well, when you asked about things with the server, could you make it more clearly? I don't follow actually. If you mean that the server is down or you cannot withdraw your asset it might be due to server but as everyone says thay it's a very weird exchanges you are using.

zeze18

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Quote from: Dart18 on November 16, 2019, 04:45:30 AM

You mean there are times when their server is down?

Get out already! Do yourself a favor to avoid any risked of being scammed or worse they will just find a new reason for you funds to be frozen.
There are a lot of more trustworthy exchange out there. Why not switch to them?
And dont leave everything in one basket.

Yeah placing too much btc to a low volume exchangebis very risky, if we want to trade a coin that just available on those small exchange it's okay but don't send too much amount of btc on those exchange because it's not credible enough. We better store our btc into a btc wallet or atleast famous exchanges with big reputation.

Dart18

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You mean there are times when their server is down?

Get out already! Do yourself a favor to avoid any risked of being scammed or worse they will just find a new reason for you funds to be frozen.
There are a lot of more trustworthy exchange out there. Why not switch to them?
And dont leave everything in one basket.

Malamok101

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Somehow those new traders and noob traders need more some time and experience to manage their self's to become experts in trading because was a time they can't always get profitable in trading because the situation of the market.

alexsandria

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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.

You got alot from there. I am not familiar with these websites. I am just wondering how come was it operational on somedays? Have you ever tried on transferring your money in different platforms? Or once you tried transferring it, the website starts to crashed. It seems suspicious on their end mate. Though there is a possibility that these websites are scams, a possibility only. This is sometimes the problems that usually occur in some unknown websites like these two.

Oceat

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Quote from: Apened on November 12, 2019, 09:43:23 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.

I don't know what exchange you are talking about is it a new one or other exchanges that you can trade not only a crypto?
If they have a server downtime you should know it and see it what was the reason or you'd probably not informed about some downtimes. I suggest you should ask their support email them to know what qas the problem.

But before you consider on supporting the exchanges first, you must have to look first if it is a reputable one that we could trust when trading and also leaving your funds to an unknown exchange is a very bad idea. Knowing that they might eventually gone for good with your funds. Having that Bitcoin is a lot already since the price is quite high.

Oilacris

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Quote from: adzino on November 15, 2019, 03:09:47 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.

Never heard of those two exchanges. You stored your coins over there? Don't! That is one of the biggest mistake you are making. No matter if it was some well known famous exchange, never store your coins over there. There is no guarantee that your coins will be safe! Move it somewhere safe before its too late. You still have time.
One of the reason why I tell people to not store coins in an exchange is because of those downtime. You might not get access to your coins when you need it most. Also read about all those exchanges getting hacked!

Im seeing that this one is like an advertisement just like what other users post earlier.Majority doesn't know the names of these exchange
and then suddenly a newbie pops out giving out some names which isn't known yet and asking he stored up almost 2 btc without any hesitation?
For a human being that have common sense will surely pick up on what other do recommend.

adzino

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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.

Never heard of those two exchanges. You stored your coins over there? Don't! That is one of the biggest mistake you are making. No matter if it was some well known famous exchange, never store your coins over there. There is no guarantee that your coins will be safe! Move it somewhere safe before its too late. You still have time.
One of the reason why I tell people to not store coins in an exchange is because of those downtime. You might not get access to your coins when you need it most. Also read about all those exchanges getting hacked!

South Park

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Quote from: crwth on November 12, 2019, 12:00:26 AM

I don't know if this is just clickbait or not. I highly think it's just a bait for people to register there and probably scam them or something.

Upon checking the site http://waxcoins.com/ here's my observation

Not Secured Website (SSL, etc)
There's a "Deposit fee" of 1%
- It's indicated in their terms under DEPOSIT, WITHDRAW OR LOST VIRTUAL CURRENCY
- I doubt that it's a typo, it's indicated in the F.A.Q. that they have 10% of the commission in withdrawals
- There are a couple of mistakes there too
There's a minimum deposit of $70

Never trust that site. As for the other one, I can't seem to open it.

I do think that it's like those Scam Messages that are being sent in Telegram or Discord that you register there and "Try" to withdraw something.

What a bunch of horrible policies, a deposit fee of 1% and a commission of 10% by withdrawing your money, that means that before you have made any trade you are losing 11% of your money, I don't care how good you are as a trader that is a huge handicap that no newbie or average trader can overcome, and even if I think that a very good trader could do it why he should try it? He could deposit his money in a more reputable exchange which charges less fees.

Topic: Quick Noob Question about Traders - page 3. (Read 1085 times)