Should I trust Bter? | Bitcointalksearch.org

rich93

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Chromia - Relational Blockchain

Quote from: deluxeCITY on February 15, 2015, 08:58:19 AM

Quote from: Picasso7 on February 15, 2015, 08:29:48 AM

whats with bter, the web is not functioned

They have ran with our BTC lol that is what has happened, how many pages back did you go to find this?

So you already know what has happened you are a bad man Grin

There is a thread about it. All we know is they are offline for a security check and they say more details wil follow. People here are speculating if its been hacked, but nobody knows for sure yet.

https://bitcointalksearch.org/topic/bter-hacked-956539

deluxeCITY

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Quote from: Picasso7 on February 15, 2015, 08:29:48 AM

whats with bter, the web is not functioned

They have ran with our BTC lol that is what has happened, how many pages back did you go to find this?

So you already know what has happened you are a bad man Grin

Picasso7

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whats with bter, the web is not functioned

mullerdan

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Its not the better I think.

8btc

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It is located in China, now it seems there is no problem. It is recommended not to put a lot of money for too long on the trading site.

Suarez

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I wouldn't trust any exchange after Mintpal incident.

jabo38

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mining is so 2012-2013

I have had two problems with BTER and both times the help support was on top of it. It is my go to exchange these days, but that said, I still don't trust them enough to keep my coins on there for a long amount of time. I go in, trade, and get out all in the same day.

Some people might think I am silly, but I use Coinbase's vault for my long term storage of bitcoin. I use the vault where I have the keys, so Coinbase couldn't lose or steal them even if they wanted. For a hacker to compromise my end, the hacker would have to get my password, get my 2FA that is only on my phone, then get my vault password. Then the hacker would have to compromise two different email accounts, and have full possession of my phone because even after I make the transaction there is 48 waiting period before the coins are moved and during that time I am sent repeated text messages and emails to the two different accounts asking me if I want to cancel. If I do, it is just a single click.

Cryptozillah

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Exchanges are not online wallets. You could use them that way if you are willing to risk being goxxed.

But after booth gox and mintpal fiasco people should have learned by now ?

If you are a daytrader and need to keep the coins for longer periods i suggest you to take the profits out of the exchange from day to day and just leaving the "playmoney" on there.
Put all the coins you are not using in coldstorage.

TinaK

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Firstly, do you trust BTC-e? if it is, then this is.

ScreamnShout

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Quote from: kokojie on November 11, 2014, 06:41:15 PM

For trading, BTER is about the best you could find. Though you should look else where if you are trying to trade the BTC/USD pair.

Alt coin trading is a suckers game as the value of altcoins will decrease over the long term and alt coins traders will ultimately end up holding the bag.

Zhan21

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Bter run for a long time. It is located in China, now it seems there is no problem. It is recommended not to put a lot of money for too long on the trading site.

devphp

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Quote from: FUR11 on November 11, 2014, 06:08:47 PM

Quote from: devphp on November 11, 2014, 11:34:33 AM

You shouldn't trust ANY centralized exchange to store your coins, none of them. If you do, you're asking for trouble. Having said that, Bter is ok for trading, so far haven't had any issues with them that weren't resolved in a timely manner, which has been a pleasant experience compared to some others *cough* Cryptsy *cough*.

Thing is, you *effectively* still need somewhat centralized exchanges as of now. And I guess we'll be stuck with them for the time being. And I gotta say: I prefer a rather trustworthy centralized exchange to some half-baked decentralized solution no one knows how to use!

You need them to make trades, but you don't need them to store coins. Try to limit the time the coins stay at any centralized platform to a few hours at the longest and there is at least a 90% chance you won't lose them due to frauds and scams.

tzortz

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Why dont you trust cold storage instead?

as4406

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You can't trust those centralized exchange to store your coins, none of them. it's not safe.

kokojie

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For trading, BTER is about the best you could find. Though you should look else where if you are trying to trade the BTC/USD pair.

deluxeCITY

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Quote from: Loophole on November 11, 2014, 01:19:54 PM

Quote from: hayabusa911 on November 11, 2014, 11:17:42 AM

How safe do you guys feel keeping your coins on Bter? I like having control over the security of my coins and can't help but feel a little anxiety when trusting this site with any large amount of money. Can I trust this site to keep my coins secure over a long time period?

Unless you need to make a trade very soon, otherwise I would suggest you to never keep your coins on an exchange or any places that you don't have the private keys.

I get the impression that the OP wants to attempt to profit from trading bitcoin at the Bter, not simply make one trade and withdraw.

@all the people who are spamming and saying to use cold storage - I would suggest reading the thread in it's entirety as the OP is not wanting to use the exchange as a bank

FUR11

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FURring bitcoin up since 1762

Quote from: devphp on November 11, 2014, 11:34:33 AM

You shouldn't trust ANY centralized exchange to store your coins, none of them. If you do, you're asking for trouble. Having said that, Bter is ok for trading, so far haven't had any issues with them that weren't resolved in a timely manner, which has been a pleasant experience compared to some others *cough* Cryptsy *cough*.

Thing is, you *effectively* still need somewhat centralized exchanges as of now. And I guess we'll be stuck with them for the time being. And I gotta say: I prefer a rather trustworthy centralized exchange to some half-baked decentralized solution no one knows how to use!

cafucafucafu

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This site is a dodgy.

gentlemand

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Welt Am Draht

Great site. I've never had any problems with them. The same caveats apply everywhere but they've shown some class in difficult situations.

Ron~Popeil

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Cold storage is by far the most secure. If you are a trader you will inevitably keep some online while trading but it would be wise to withdrawal when you are done trading even if deposit and confirm times are inconvenient.

InMyselfITrust

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Even though they have had positive reviews always look after your own money...inmyselfitrust Wink

Piston Honda

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Juicin' crypto

Quote from: UsernameBitcoin on November 11, 2014, 02:56:12 PM

never had any problems with them

same here

UsernameBitcoin

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CryptoTalk.Org - Get Paid for every Post!

never had any problems with them

BorderBits

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Seeing as how every bitcoin "business" is either a scam or gets shut down due to violating numerous laws... yeah, trust it, after all, you can simply call your financial institution and have transactions reversed when you get scammed.. oh.. never mind.

WestHarrison

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I don't trust any exchange with my coins. I only use them and then immediately take my bitcoins out whenever it is possible.

david wilson

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I don't think, we should don't keep our bitcoins longer on wallet without any need.

cr1776

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Quote from: hayabusa911 on November 11, 2014, 11:17:42 AM

How safe do you guys feel keeping your coins on Bter? I like having control over the security of my coins and can't help but feel a little anxiety when trusting this site with any large amount of money. Can I trust this site to keep my coins secure over a long time period?

I would advise never keeping your coins with a third party.

Use cold storage. But make sure you do it properly.

Remember, if you don't have the private keys, you don't have the coins, you just have a book entry in your name at some third party web site.

Loophole

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Quote from: hayabusa911 on November 11, 2014, 11:17:42 AM

How safe do you guys feel keeping your coins on Bter? I like having control over the security of my coins and can't help but feel a little anxiety when trusting this site with any large amount of money. Can I trust this site to keep my coins secure over a long time period?

Unless you need to make a trade very soon, otherwise I would suggest you to never keep your coins on an exchange or any places that you don't have the private keys.

Mowcore

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Every time I had a problem with BTER and emailed support, they sorted my problem out. One occasion took a few days longer than I hoped for though. I never stored anything on there longer than I needed to though!

Crypto_Kirito

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I'm totally new to this and rather paranoid, but surely the "not putting your eggs in one basket" approach is the best. With bitcoin or real money there always exists the chance of something going wrong. To me bitcoins on an exchange hold a greater risk or being stolen or whatnot, but it's a functional risk. That being said, I'm sure you're not the only one with a large amount of money on BTER.

hayabusa911

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Thanks for the advice guys! I guess I'm asking questions I already know the answers to. I'm going to use them for a while and see how things go and I would never trust them with more than I'm willing to lose. You know... "hackers" Roll Eyes

deluxeCITY

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Quote from: hayabusa911 on November 11, 2014, 11:45:13 AM

Quote from: 1Referee on November 11, 2014, 11:40:47 AM

Quote from: hayabusa911 on November 11, 2014, 11:17:42 AM

How safe do you guys feel keeping your coins on Bter? I like having control over the security of my coins and can't help but feel a little anxiety when trusting this site with any large amount of money. Can I trust this site to keep my coins secure over a long time period?

Better keep your coins in your offline wallet till you need them. It also depends on what kind of trader you are.

If you're a daytrader then I can understand that you keep your coins there for a longer time. If not, can you tell us why you would keep your coins there for a long period?

Yep, for trading. That's the only reason anyone would use them... I hope! Grin

It would probably be better to use a site like bitfinex if you want to keep a large amount of money on an exchange for trading. Bitfinex allows for margin trading so you could deposit only a portion of the amount you wish to risk at the exchange (and the rest in cold storage) that way if they end up getting "hacked" you will only lose access to the fraction of your money that you deposited there.

MadGamer

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You shouldn't trust anything "Online" to keep your coins mate.

1Referee

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Quote from: hayabusa911 on November 11, 2014, 11:45:13 AM

Quote from: 1Referee on November 11, 2014, 11:40:47 AM

Quote from: hayabusa911 on November 11, 2014, 11:17:42 AM

How safe do you guys feel keeping your coins on Bter? I like having control over the security of my coins and can't help but feel a little anxiety when trusting this site with any large amount of money. Can I trust this site to keep my coins secure over a long time period?

Better keep your coins in your offline wallet till you need them. It also depends on what kind of trader you are.

If you're a daytrader then I can understand that you keep your coins there for a longer time. If not, can you tell us why you would keep your coins there for a long period?

Yep, for trading. That's the only reason anyone would use them... I hope! Grin

Nothing wrong with Bter as exchange, good luck with your trading.

Well, I hope people will use them also for buying goods. Would definitely help a lot Grin

hayabusa911

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Quote from: 1Referee on November 11, 2014, 11:40:47 AM

Quote from: hayabusa911 on November 11, 2014, 11:17:42 AM

How safe do you guys feel keeping your coins on Bter? I like having control over the security of my coins and can't help but feel a little anxiety when trusting this site with any large amount of money. Can I trust this site to keep my coins secure over a long time period?

Better keep your coins in your offline wallet till you need them. It also depends on what kind of trader you are.

If you're a daytrader then I can understand that you keep your coins there for a longer time. If not, can you tell us why you would keep your coins there for a long period?

Yep, for trading. That's the only reason anyone would use them... I hope! Grin

1Referee

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Quote from: hayabusa911 on November 11, 2014, 11:17:42 AM

How safe do you guys feel keeping your coins on Bter? I like having control over the security of my coins and can't help but feel a little anxiety when trusting this site with any large amount of money. Can I trust this site to keep my coins secure over a long time period?

Better keep your coins in your offline wallet till you need them. It also depends on what kind of trader you are.

If you're a daytrader then I can understand that you keep your coins there for a longer time. If not, can you tell us why you would keep your coins there for a long period?

maurya78

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I wouldn't trust my coins with any third party. That's the whole point of btc that you take personal responsibility for your assets.

devphp

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You shouldn't trust ANY centralized exchange to store your coins, none of them. If you do, you're asking for trouble. Having said that, Bter is ok for trading, so far haven't had any issues with them that weren't resolved in a timely manner, which has been a pleasant experience compared to some others *cough* Cryptsy *cough*.

hayabusa911

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How safe do you guys feel keeping your coins on Bter? I like having control over the security of my coins and can't help but feel a little anxiety when trusting this site with any large amount of money. Can I trust this site to keep my coins secure over a long time period?

Topic: Should I trust Bter? (Read 2567 times)