Safe to keep coins on exchanges? - page 2.

Pumpkin

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Activity: 151

Merit: 100

Quote from: Blackmoon Crypto on August 07, 2017, 05:39:10 AM

Quote from: Pumpkin on August 07, 2017, 05:31:48 AM

Quote from: Blackmoon Crypto on August 07, 2017, 05:17:22 AM

Hey Pumpkin, well said. In the conditions of anonymity and decentralization, everyone is responsible for himself.

Hey Blackmoon and thanks for your response..don't you think that the new frameworks could be a catalyst for cryptocurrency?

It's still hard to say. The financial crypto market is very young and small. Let's monitor events and announcements.

Hey Blackmoon. What are the best resources for monitoring and understanding the market?

LifeOfDoge

full member

Activity: 182

Merit: 100

Since I lost the most of my coins on Cryptsy exchange I dont believe to any exchange no matter what and I advice you the same.

vfrcbv91

full member

Activity: 337

Merit: 102

I used to think that, Yes, but in light of recent events.... If you are an active trader, I advise you to move all the coins to their own wallets, so it's more reliable.

Blackmoon Crypto

member

Activity: 172

Merit: 10

Quote from: Pumpkin on August 07, 2017, 05:31:48 AM

Quote from: Blackmoon Crypto on August 07, 2017, 05:17:22 AM

Hey Pumpkin, well said. In the conditions of anonymity and decentralization, everyone is responsible for himself.

Hey Blackmoon and thanks for your response..don't you think that the new frameworks could be a catalyst for cryptocurrency?

It's still hard to say. The financial crypto market is very young and small. Let's monitor events and announcements.

Pumpkin

full member

Activity: 151

Merit: 100

Quote from: Blackmoon Crypto on August 07, 2017, 05:17:22 AM

Hey Pumpkin, well said. In the conditions of anonymity and decentralization, everyone is responsible for himself.

Hey Blackmoon and thanks for your response..don't you think that the new frameworks could be a catalyst for cryptocurrency?

Blackmoon Crypto

member

Activity: 172

Merit: 10

Hey Pumpkin, well said. In the conditions of anonymity and decentralization, everyone is responsible for himself.

Pumpkin

full member

Activity: 151

Merit: 100

Quote from: jusplayin on July 13, 2017, 09:14:34 PM

Hello all,

Hereby a newbie question (again)
I have coins on Kraken and Bittrex and would like to know if it is 'safe' to keep them there before/after the 1 august date as well.
I did read that cold storage and paper storage are the best, but what if i keep my coins and fiat on those exchanges so i can more easily buy/sell during fluctuations?
How would you keep the coins secure yet flexible to move around?

Thank you

Hey! Just be aware that while they are on Poloniex you don't actually have Bitcoin. You have a promise by Poloniex to give Bitcoin to you, when you ask. They might be better than you and keeping them safe. So evaluate the risks and decide for yourself, Bitcoin is all about the power to decide and the responsibility to decide well. Hope that helps!

apolok

sr. member

Activity: 742

Merit: 250

Quote from: jusplayin on July 13, 2017, 09:14:34 PM

Hello all,

Hereby a newbie question (again)
I have coins on Kraken and Bittrex and would like to know if it is 'safe' to keep them there before/after the 1 august date as well.
I did read that cold storage and paper storage are the best, but what if i keep my coins and fiat on those exchanges so i can more easily buy/sell during fluctuations?
How would you keep the coins secure yet flexible to move around?

Thank you

exchanger is always risky.Hold your coin in core wallet.And if you have private key then your coin is safe.your exchanger wallet can be hacked or stolen.You heard btce.com? that exchanger shutdown their website.There are many reason why they shut it down.But many people lost their coin.Now they can not do anything.So try to keep your coin in core wallet

Mindin

full member

Activity: 294

Merit: 100

Quote from: ibuddy122505 on July 30, 2017, 10:42:26 AM

You should not believe any exchange, web wallets at all, it's completely dealing with high risk. On August 1, if you want to keep your bitcoin safe, feel free to use the secure wallet, which has Private key assure you that they'll definitely keep your BTC safe.

get the better idea you may check out this topic: https://bitcointalksearch.org/topic/august-1-bip148-preparedness-2017191

I would preferably stay away from webwallets, unless it is your only option. Take notice.

maeusi

sr. member

Activity: 462

Merit: 254

There is besides the security aspect another reason, which could be argued against keeping the coins with an exchanger: some exchangers like for example poloniex don't like that and demand customers to actively use their services. So, before you keep your coins at an exchanger for a longer period without activity, you should first read their tos.

Prem.Soorajpaul

full member

Activity: 199

Merit: 100

0xB911101025014BfCaA3B17BC7683C0817489bB28

Go to the Bitcoin Cash official website here:

https://www.bitcoincash.org/

They have listed all the exchanges and wallets which are supporting BCC. If you are using any of these exchanges or wallets, then you don't need to worry.

marvinmtz

newbie

Activity: 3

Merit: 0

It is always good to know....

ibuddy122505

sr. member

Activity: 1066

Merit: 261

You should not believe any exchange, web wallets at all, it's completely dealing with high risk. On August 1, if you want to keep your bitcoin safe, feel free to use the secure wallet, which has Private key assure you that they'll definitely keep your BTC safe.

get the better idea you may check out this topic: https://bitcointalksearch.org/topic/august-1-bip148-preparedness-2017191

Mindin

full member

Activity: 294

Merit: 100

Quote from: Webb.Char23 on July 29, 2017, 02:15:12 PM

Not safe at all. You're trusting the exchange to keep your coins safe and give them back to you when you ask for them. We've seen exchanges run off with Millions of $$ in coins.

Also, if you want to take advantage of the BCC/BTC split I think Kraken is your best best. They will honor the BCC for every BTC you have. I don't believe Bittrex will. Good luck friend.

They are mostly safe, in particulare the biggest that trade the highest volume are very solid exchanges that will not "run off with millions of dollars". Have faith in the system.

Webb.Char23

newbie

Activity: 32

Merit: 0

Not safe at all. You're trusting the exchange to keep your coins safe and give them back to you when you ask for them. We've seen exchanges run off with Millions of $$ in coins.

Also, if you want to take advantage of the BCC/BTC split I think Kraken is your best best. They will honor the BCC for every BTC you have. I don't believe Bittrex will. Good luck friend.

Mkmanik

hero member

Activity: 986

Merit: 516

Quote from: Hoho29 on July 29, 2017, 01:06:20 PM

to keep all of what owned money or bitcoin in one place is too risky and lead to total loosing , so it is better to divided into different wallet exchange , online and local offline wallet controlled only by you .

well said.if anyone attacked by the hacker,then he might be lost all of his Coin. Its a huge lose. i will keep your speech in my mind.I am alwasys think about my wallet,so i set up 2FA and google authonicator.i feel safe now.no one can hack my wallet easily.

Hoho29

member

Activity: 145

Merit: 10

HalommmmE is my LOVE

to keep all of what owned money or bitcoin in one place is too risky and lead to total loosing , so it is better to divided into different wallet exchange , online and local offline wallet controlled only by you .

MBrandoeye

jr. member

Activity: 57

Merit: 10

Until the exchange works is safe. The problems come when exchanges close!

wealthium

newbie

Activity: 35

Merit: 0

Quote from: LilibethSantos on July 14, 2017, 12:21:46 AM

No exchange should be trusted. Mt. Gox was a trusted exchange that was comparable to Kraken yet they suddenly ran off with our coins. Use the exchanges to trade and then send the coins to your own wallet.

yea..... Mt. Gox was one of the biggest exchange at that time... I also prefer to keep coins to your own wallet.

Mindin

full member

Activity: 294

Merit: 100

Quote from: Blastful on July 14, 2017, 08:45:27 AM

Never store your bitcoins anywhere you don't have access to the private keys. Anything can happen and with the current weak laws on virtual currencies, it will be next to impossible to get justice. Why wait to go through all that hassle when you can store them safely and freely in a wallet that you fully control?

That depends. If you only have a tiny amount that isn't worth much, why bother?

Topic: Safe to keep coins on exchanges? - page 2. (Read 2495 times)