Trading and security | Bitcointalksearch.org

ss890

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Quote from: sebr1ng on September 14, 2017, 02:36:53 AM

+1 to that - 2FA here would be great!

That's too much security really. We don't really store bitcoin or anything important on the forum. It's knowledge hub and there is no wallet or exchanger kind of thing here where your account can get hacked and you might loose money. For the purpose of exchanger and wallets it's necessary to have it because there is load of money. I would rather choose to save everything on the wallet with private keys. That's the best option and added security to my account.

micher143

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Quote from: Mahanton on September 04, 2017, 06:36:40 AM

Activating 2fa would really add up security on your account but keeping it on exchanges would really be risky specially op mentioned that its 5 figures then i cant really afford to put it along on exchanges. Hardware wallets is somehow hassle when it comes on having an active transactions if you do really love to have secured wallet then try electrum.Its online but atleast you do have the keys and i would say the security is also good as long you do know how to keep private informations on the wallet.

I usually used 2 or more wallets for me to secure my holding in my tradings. And it could be better if you will choose the right wallet for you depending on the function of your holding, it could be on investments or long term, or even in direct transactions. I also agree that it could be best if you will consider using hardware wallet so you could secure all your investments in every transactions.

kidsuzudn

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Quote from: tailwate07 on September 29, 2017, 03:13:22 PM

Quote from: bdog1234 on September 04, 2017, 02:49:11 AM

I have read dozens of threads saying you need to keep your BTC on a hardware wallet or paper. Anything online isn't safe they say. When trading that is not really feasible is it? I like to move in and out of positions several times a day and often at a moments notice. My trading account has a sizable balance (to me - 5 figures) in it.

How risky is this and any additional things I could do?

Keeping all your funds in an exchange account is very risky. Anything can happen with security and anything can happen with the exchange itself. The best is to keep only the amount you trade with in the exchange and withdraw the rest at least when it is substantial enough for withdrawal.

Yes , like the situation of btc-e.com , those traders keep all their btc-e in that exchangers is nearly lost everything. Luckily , Btc-e is back but they only give back 55% percent of the balance , so choose the right exchanger is the key , cause you're not , you probaly can lose everything, LR and btc-e are examples.

tailwate07

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Quote from: bdog1234 on September 04, 2017, 02:49:11 AM

I have read dozens of threads saying you need to keep your BTC on a hardware wallet or paper. Anything online isn't safe they say. When trading that is not really feasible is it? I like to move in and out of positions several times a day and often at a moments notice. My trading account has a sizable balance (to me - 5 figures) in it.

How risky is this and any additional things I could do?

Keeping all your funds in an exchange account is very risky. Anything can happen with security and anything can happen with the exchange itself. The best is to keep only the amount you trade with in the exchange and withdraw the rest at least when it is substantial enough for withdrawal.

Kevin77

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Quote from: mia khalifa on September 04, 2017, 04:13:45 AM

Quote from: bdog1234 on September 04, 2017, 02:49:11 AM

I have read dozens of threads saying you need to keep your BTC on a hardware wallet or paper. Anything online isn't safe they say. When trading that is not really feasible is it? I like to move in and out of positions several times a day and often at a moments notice. My trading account has a sizable balance (to me - 5 figures) in it.

How risky is this and any additional things I could do?

I suggest you make 2FA security on each account that has a lot of BTC, minimize the crimes that occur in the online world, if it installed 2FA I think it is safe.

This is not just even about 2 factor authentication. The thing is about leaving all your funds in a trading wallet. You have no control at all over your funds and if what happened to Mt. Gox and co, happens, you are at risk of loosing your funds with no apologies.

The best way is to get a hardware storage or at least a desktop wallet like exodus that gives you the chance to be in control of your funds. Only leave what you are trading with in your exchange wallet and never use it as a main storage for your assets.

A.H.Rassel

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Quote from: Bacchu on September 05, 2017, 11:19:56 AM

I know that trading site or exchange site are risky for holding coin/btc there.but if i activated 2FA into my account is it fully safe?I am already using 2FA into my all of account.But i don't aware about it that I am fully secure or not!! some one clear it please.

Trade site is unsafe for holding coins.If you enacted 2FA into your account is it shield you from individuals who are endeavoring to hack your account.My feeling when you're exchanging complete pull back coins promptly, or on the off chance that you need to be spent in Exchange 30% hold in Exchange it's a straightforward system to being protected

haroldtee

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Since you said your trading account has a sizable balance, you really will not want to leave them in an exchange wallet. You are at risk of you loosing all your funds if one day, something happens with the exchange itself. Even 2 Factor Authentication that you have enabled will not get your funds back. Try to google news about Mt. Gox and even recently btc-e and you will know what this is all about. Although, BTC-e users are lucky enough to at least recover some of their funds back so far.

traderethereum

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Quote from: azguard on September 13, 2017, 03:25:05 PM

Quote from: nicster551 on September 09, 2017, 12:00:14 AM

Quote from: Painbird on September 08, 2017, 08:33:58 PM

I used 2FA security in trading exchange. I think its safe,but anything can happen in online.so my point of view I tell that for security 2FA is the best.

I also used 2FA security in the exchanger that I make a trading because it can helps us to secure our account in the site and prevent open it by others without our own permission. There are many hackers now who are trying to still our funds in trading site that's why the trading site also offers a 2FA security.

For online 2FA is the best possible option, especially for the exchanges, and on top of that you keep second part of password of pass phase on you phone, and this would be good if this option could be implement on this forum, believe that in this way we would see less hijacking and hacking account on this forum.

activing 2fa is the best option we can do to securing our account although its not guarantee to give full protection but at least it could prevent from the attacker. and i believe that in website trading, they always giving advice for their member to activate into the highest level so the member can increase their level security.

sebr1ng

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+1 to that - 2FA here would be great!

azguard

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Quote from: nicster551 on September 09, 2017, 12:00:14 AM

Quote from: Painbird on September 08, 2017, 08:33:58 PM

I used 2FA security in trading exchange. I think its safe,but anything can happen in online.so my point of view I tell that for security 2FA is the best.

I also used 2FA security in the exchanger that I make a trading because it can helps us to secure our account in the site and prevent open it by others without our own permission. There are many hackers now who are trying to still our funds in trading site that's why the trading site also offers a 2FA security.

For online 2FA is the best possible option, especially for the exchanges, and on top of that you keep second part of password of pass phase on you phone, and this would be good if this option could be implement on this forum, believe that in this way we would see less hijacking and hacking account on this forum.

Vikingr

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Quote from: Whosdaddy on September 12, 2017, 03:32:47 AM

Quote from: Dart315 on September 08, 2017, 12:22:40 PM

>Money loves silence

This is great advice applicable everywhere

Yes, if someone will keep on posting rather boosting about his wealth on all social forums and websites, he better get ready for attacks. You cannot keep bees away from sweets for long once you have shown it to them. So, the lesser you open your mouth the better it is.

I think if you invest your money in Bitcoins and then you start trading, you have to be very much careful as there will be a lot of scammers who will be keeping an eye on your money and will be trying their best to take away your money. There will be no one else but only you who needs to protect his money at the time of trading.

MrBitter

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Keeping your BTC or any other coin on exchanges is very risky cos n there is very little you can do to protect it from any kind of exchange scams like shutting down without any notice,
all you can do is activate 2fa for more security from hackers,

Dart315

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Quote from: alyssa85 on September 11, 2017, 12:16:15 PM

Quote from: bdog1234 on September 04, 2017, 02:49:11 AM

I have read dozens of threads saying you need to keep your BTC on a hardware wallet or paper. Anything online isn't safe they say. When trading that is not really feasible is it? I like to move in and out of positions several times a day and often at a moments notice. My trading account has a sizable balance (to me - 5 figures) in it.

How risky is this and any additional things I could do?

The only group that is insured against hacking is Coinbase/GDAX. (Though Gemini might also be insured, I know they are fully licenced by New York State and I think the licence requires reserves to be held).

Why so?

roadbits

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Quote from: richcorner100 on September 08, 2017, 03:45:24 AM

I know trading in exchange is risky because we are user does not have the private key of the trading account but to minimize the risk i activated 2FA in every exchange, use uniq and privacy email address also activated 2 step verification of the email, keep and bookmarks link of the exchange,dont click any link from third party if you joined in telegram group, and use anti virus on PC/Laptop.

putting full money in exchange site is a big risk, only you keep how much money you want to trade that amount in exchange site and what security you are using to save your account every one must follow this and save your account. last word what you said it is must and should traders follow, use an internet security anti virus to your system. I am using it in my system, but one day my system had a problem, so I used my friend system and opened my local exchange site to transfer some BTC to another account. I am copying my address but while pasting it is showing other address I tried this couple times all time it changed automatically. i suddenly log out and clear my browser history. If i do not notice this, my BTC will go wrong address. This is 100% virus problem in that system. So using anti virus is very safe.

omonuyak

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Quote from: bdog1234 on September 04, 2017, 02:49:11 AM

I have read dozens of threads saying you need to keep your BTC on a hardware wallet or paper. Anything online isn't safe they say. When trading that is not really feasible is it? I like to move in and out of positions several times a day and often at a moments notice. My trading account has a sizable balance (to me - 5 figures) in it.

How risky is this and any additional things I could do?

Trading is all about risk and you should not even go into it without proper knowledge of were and how you coin is going to be kept. we have many exchanger, that has reputable name and they have been in business for long that you can comfortably keep your coins. You should feel free in using any of the following exchanger: poloniex, c-cex, bittrex and livecoin.

setupbounds

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Quote from: richcorner100 on September 08, 2017, 03:45:24 AM

I know trading in exchange is risky because we are user does not have the private key of the trading account but to minimize the risk i activated 2FA in every exchange, use uniq and privacy email address also activated 2 step verification of the email, keep and bookmarks link of the exchange,dont click any link from third party if you joined in telegram group, and use anti virus on PC/Laptop.

Trading and security are important for every person who invests in crypto currencies. So far as I am familiar with these crypto currencies bit coin is known the most secured i.e. encrypted and easily tradable and exchange able virtual currency. So I will suggest people to invest in bit coins.

Whosdaddy

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Quote from: Dart315 on September 08, 2017, 12:22:40 PM

>Money loves silence

This is great advice applicable everywhere

Yes, if someone will keep on posting rather boosting about his wealth on all social forums and websites, he better get ready for attacks. You cannot keep bees away from sweets for long once you have shown it to them. So, the lesser you open your mouth the better it is.

Wintersoldier

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Quote from: TheQuin on September 04, 2017, 02:56:20 AM

You are correct that it's not possible to securely hold your coin and trade with it as keeping it on an exchange means you do not have the private key.

My advice would be not to put all your eggs in one basket. Open accounts at multiple exchanges and spread the risk. Only keep what you need for trading at the exchange and withdraw any profit whenever you can. Also always use a strong password and enable 2FA. If there are any signs of the exchange not being trustworthy, like holding withdrawals and not answering support queries then get out of there as soon as possible.

If you experience issue and difficulty in regards to managing a specific wallet in trading you must consider using a singles wallet. Hence, we should also consider that in terms of transaction there are differences and allowed wallets that could help them to experience a better way of transaction, investments and trading in the platform of a multi purpose wallet or even having multiple wallets.

Blitzboy

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That is correct. It is very risky to keep your bitcoin in a exchange wallet. Look at btc-e. There are likely a thousand of people losing their money there. HOlding your in an exchange is not good at all. It can go down in any situation. Therefore, even when you have set all of the security, there is nothing can ensure that your balance will be safe there

erwan

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Quote from: bdog1234 on September 04, 2017, 02:49:11 AM

I have read dozens of threads saying you need to keep your BTC on a hardware wallet or paper. Anything online isn't safe they say. When trading that is not really feasible is it? I like to move in and out of positions several times a day and often at a moments notice. My trading account has a sizable balance (to me - 5 figures) in it.

How risky is this and any additional things I could do?

as long as using 2 Factor Authentication I'm sure your wallet will be fine. I have been using 2fa for 2 years and have no problem with my wallet.

Topic: Trading and security (Read 2142 times)