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

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.

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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.

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Quote from: tambok on November 30, 2019, 11:07:55 AM

Quote from: tambok on November 30, 2019, 11:07:55 AM

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.

There were really a lot of exchange out there, we mush be very careful and don't trust easily although the tokens you would like to sell is only listed there, as much as possible don't do KYC if they will not require it, but if you need to sell and they will require KYC then you will have no choice just check out their credibility so that you will be aware of what's your next step.

That's true and must do for all of users and bounty participants. a lot of exchanged there came up without any true intention to all of there users. if you participated in a bounty campaign and has not a good exchange to be listed then don't participate dont risk all your information. I will suggest that to know more about the exchange and the project to enter.

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You said it already.

It ain't a question anymore. Learn from our mistakes. Read more in this forum and you will see that it happened over and over again to different users.
As much as possible do not store anything in an exchange. Go get a hard wallet. That kind of large number should not be staying there.
You just trade what you can risk. Is 1.8 BTC that low for you to be risked in such unknown exchanges?

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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.

There were really a lot of exchange out there, we mush be very careful and don't trust easily although the tokens you would like to sell is only listed there, as much as possible don't do KYC if they will not require it, but if you need to sell and they will require KYC then you will have no choice just check out their credibility so that you will be aware of what's your next step.

Well if the exchange new for me Im not that kind of person to doing something like just to trade quickly or deposit that did not read some information about them. And yes doing some KYC also must be important but we need to careful also cause of this some exchange site making KYC but in the end was trying to get some our information we have. And I know we are not a fool for such kind of bait like that, We have mind to think first or asking some person that know some fake exchange site.

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

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.

There were really a lot of exchange out there, we mush be very careful and don't trust easily although the tokens you would like to sell is only listed there, as much as possible don't do KYC if they will not require it, but if you need to sell and they will require KYC then you will have no choice just check out their credibility so that you will be aware of what's your next step.

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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.

hahay

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First I am not very familiar about the exchange and secondly, I'm not sure a newbie has a lot of bitcoin in his address. Well, maybe you are someone who is pro in terms of trading out there and new in the crypto market, but when that happens then at least you have a lot of experience that should have known whether the site has a problem on the server or not because I think the problem is just Common problems that occur on every platform.

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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.

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

Quote from: Cherylstar86 on November 24, 2019, 07:15:00 AM

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

Its only new for me that two exchange site you mention I did not heard about those site, its only a popular exchange only Ill use if Im going to trade.
I cannot say if that two exchange site is good for us to trade in there or our coins we have are safe if we deposit and do some trade.

But if you think that site is safe so good for you and continue to trade and buy some trusted altcoins if you want to earn more in trading.

Well, it will depend on our own perceptions but on the other hand we need an assurance to be safe enough. If that two trading site is very popular for sure its is definitely a legit but for me is not as popular maybe it's just new in the world of crypto currency community. As being experience as a trader we must aware the trading site that we encounter and able to do such trading process.

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.

Well if we dont know yet on the exchange and it was new also for us we need do something and ask for the others if have someone know about exchange that we try to deposit and trade. But must better to focus on the exchange that have more experience and safest exchange like binance or kucoin.

Actually its not bad to experience some new exchange site, And we need to think first before we make some move.

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Quote from: Cherylstar86 on November 24, 2019, 07:15:00 AM

Quote from: Cherylstar86 on November 24, 2019, 07:15:00 AM

Its only new for me that two exchange site you mention I did not heard about those site, its only a popular exchange only Ill use if Im going to trade.
I cannot say if that two exchange site is good for us to trade in there or our coins we have are safe if we deposit and do some trade.

But if you think that site is safe so good for you and continue to trade and buy some trusted altcoins if you want to earn more in trading.

Well, it will depend on our own perceptions but on the other hand we need an assurance to be safe enough. If that two trading site is very popular for sure its is definitely a legit but for me is not as popular maybe it's just new in the world of crypto currency community. As being experience as a trader we must aware the trading site that we encounter and able to do such trading process.

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.

For my whole career in using cryptocurrency and a lot of trading, I still didn't know that website, and it was legit. But base on my research about the sites and their review from the different websites to avoid this kind of issue, it's better to withdraw your money before regretting those websites are going bankrupt. If you think that the site today are volatile like before, one of my offer to you is to transfer the balance immediately. There is a lot of websites that cannot handle their users' payouts, and because of that, they cannot pay and tells bankruptcy. You can use that money or assets to invest, and by these, just your knowledge in trading and transaction is needed to make more profit and money.

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Quote from: Quidat on November 24, 2019, 11:14:59 AM

Its only new for me that two exchange site you mention I did not heard about those site, its only a popular exchange only Ill use if Im going to trade.
I cannot say if that two exchange site is good for us to trade in there or our coins we have are safe if we deposit and do some trade.

But if you think that site is safe so good for you and continue to trade and buy some trusted altcoins if you want to earn more in trading.

Well, it will depend on our own perceptions but on the other hand we need an assurance to be safe enough. If that two trading site is very popular for sure its is definitely a legit but for me is not as popular maybe it's just new in the world of crypto currency community. As being experience as a trader we must aware the trading site that we encounter and able to do such trading process.

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.

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Quote from: tungaqhd on November 24, 2019, 08:16:26 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.

Those exchangers are strange to me too. I think it is not safe to store such much coins in exchanger because of hackers or scam exchanger.
You should have your own wallet and use trusted exchanger.

Not only strange but i havent even hear of those exchangers which its pretty risky if you do just
carelessly put up some amounts on it without even knowing its realibility. Even on good exchangers its not even
recommended to store up your coins for too long yet we know that exchangers can be hack and in result
we would lost up your precious coins.

Today the price of the bitcoin is good for investment because, according to the graph, it looks like growing up for the coming months. When you are holding a large amount of money on your different unstable wallets or website, I think it is not safe because anytime they will close soon and your earnings may not payed or cannot withdraw anymore. I will prefer to transfer to the most reliable wallet all of my funds to avoiding loss of income because of an unstable server of a website.

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Quote from: tungaqhd on November 24, 2019, 08:16:26 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.

Those exchangers are strange to me too. I think it is not safe to store such much coins in exchanger because of hackers or scam exchanger.
You should have your own wallet and use trusted exchanger.

Not only strange but i havent even hear of those exchangers which its pretty risky if you do just
carelessly put up some amounts on it without even knowing its realibility. Even on good exchangers its not even
recommended to store up your coins for too long yet we know that exchangers can be hack and in result
we would lost up your precious coins.

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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.

Those exchangers are strange to me too. I think it is not safe to store such much coins in exchanger because of hackers or scam exchanger.
You should have your own wallet and use trusted exchanger.

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Its only new for me that two exchange site you mention I did not heard about those site, its only a popular exchange only Ill use if Im going to trade.
I cannot say if that two exchange site is good for us to trade in there or our coins we have are safe if we deposit and do some trade.

But if you think that site is safe so good for you and continue to trade and buy some trusted altcoins if you want to earn more in trading.

Well, it will depend on our own perceptions but on the other hand we need an assurance to be safe enough. If that two trading site is very popular for sure its is definitely a legit but for me is not as popular maybe it's just new in the world of crypto currency community. As being experience as a trader we must aware the trading site that we encounter and able to do such trading process.

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

Its only new for me that two exchange site you mention I did not heard about those site, its only a popular exchange only Ill use if Im going to trade.
I cannot say if that two exchange site is good for us to trade in there or our coins we have are safe if we deposit and do some trade.

But if you think that site is safe so good for you and continue to trade and buy some trusted altcoins if you want to earn more in trading.

I haven't heard all about those platforms in my whole life in trading, but if you think they are still functional not better to hold your coins, but if you think the system always down and has a fatal error. It is better to withdraw or transfer your money online or into the other wallet than regretting when they won't get your money. I already experience that before I try to hold on the website all of my earnings and then they had maintenance and never opened again, I regret my decision for holding.

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Its only new for me that two exchange site you mention I did not heard about those site, its only a popular exchange only Ill use if Im going to trade.
I cannot say if that two exchange site is good for us to trade in there or our coins we have are safe if we deposit and do some trade.

But if you think that site is safe so good for you and continue to trade and buy some trusted altcoins if you want to earn more in trading.

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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 you mean the website on somedays are down or offline? What kind of platform is it, i haven't heard it before and now i am thinking that you have sent your bitcoins in much riskier way. You should ask first what exchange can be used to trust before putting your money on it.
Server is the one who's making an uptime and down time of the platform or website.

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Quote from: wajik-tempe on November 20, 2019, 07:10:18 PM

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

Hackers do not really work like that, they can either hack the exchange or hack their users, if they hack the exchange then they will take the coins of anyone they can so your coins will not necessarily be safe at all even if the amount you are holding is not high, but if a hacker is trying to hack a user most likely they have no way to know how much money you are holding until they get access to your account so do not think that just because you are not holding a lot of money a hacker will not target you.

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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.

Seems like you put a high conviction to those sites, does the owner is your friend? or you just promoting those sites in order to the people here get interest to those sites?

1.8 BTC is large amount to me and if I were you I'll keep them secretly, such store them on the cold wallet like trezor or ledger nano (which has suggested before)

I hope you are aware against the risk that will be faced. Indeed, crypto industry is highly based on credence but it isn't mean you are free to choose the place to store your money.

There are some thread on scam accusation board who discussed about an exchange you can find them as more info.

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Quote from: wajik-tempe on November 20, 2019, 07:10:18 PM

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

And for addition, maybe Binance for now will more secure their site since last attack. And, maybe if save coin in Binance and get attack they can make sure user's money is safe like in past. But who knows, and it is all people's choice. At least, in exchanges, online wallet or maybe hardware wallet, make sure really secure our account with 2fa, or anything else that the site provide.

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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

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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.

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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