Topic: Trading and security - page 2. (Read 2161 times)

You need to decide how much of your total bitcoin stash you are comfortable losing, and only send that amount to the exchanges, and keep the rest in your own hardwallet.

Also take profits regularly and withdraw profits. That way, the % at risk is lower.

Sadly exchange risk is real - as those who had money in MtGox, Mintpal, Cryptsy, Bitfinex and BTC-E can attest.

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).

                              Yes. Honestly when it comes to money being involved, you must be having any back up plans or decisions to made, or take some immediate measures for your safety. We cannot really say it for sure if what might gonna happen if you will just let your coins sleep or just let your bitcoin sleep to some exchanges, that is why you have such a nice idea and strategy, hopefully people would also notice this one and apply, because currently this is also my method so that I am at a lesser risk than letting it be.

If you do not use 2FA for security your account, in someday hackers will rob all your funds on exchange is possible. Because the trend of the cryptocurrency market has attractives many hackers interested to this field, they know have many newbies here and can give them a lot of money.

Yeah, that's what I do most of the time.

If you are day trading then you actually have no choice but to select a trusted exchange or trading platform. If the coins will not be moved for more than a week, then I suggest you take it out of the exchange.

It is a good thing to have a code as a good expale of security that could level and heighten up the security of your wallets. But it is also a good option for people ti have multiple account of wallet depending on its usage, for expale if for holdings daily transactions, and concreting so you could limit and save at the same time.

In this world everything is full of risk whether to do work in offline or in online .
But here to work with thr bitcoin is much safe way to deal with your money .
But here if you are thinking that trading is a risky think from the point view of the trading then you are right because at the exchange attackers can attack and can steal coins because we have security with the official Wallet but not that type of security at the exchange like things where all types of wallets are listed .
Here i am not saying about the assumptions but already i seen about 1.6 years ago where from most of the big exchange Etherium coin was steal by the hackers from those accounts who have in bulk .
So we can expect that type of the securities .
But here also we can see that the makers of the exchange platforms are not less experienced , they are also giving us the better facility of securities , so we can expect a better security if we have our money in multiple coins and at multiple exchange so that we can lower the risk much as we can .
Honestly i am doing trading since 4 years but still nothing i faced here any problem with any exchange .
So don't take much tension about the securities because you are not only the single one in this field , another people are using it for the bulk trading at every exchange and also making big earnings also .
So be positive and give best to your work to get better success in this field without thinking anything negative about it .

You are no doubt a very smart person as far as I come across. I must advice each and every one to adopt the strategy which you have adopted. You should never keep the Bitcoins which you are holding and the ones with ones you want to do trading. You should keep them totally separate and safe too.

I do see many people hoard their all bitcoins into one wallet type and on the undesirable events, they all get big disappointments. This will also apply the trading exchanges we do trade.

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.

I heard it too but my BTC in some exchange is too small only so its ok for me i think the hacker dont want to take advantage on that i hope LOL but if you realy have a huge amount of bitcoins then you have to make it safe coz exchange wallet is realy belong to exchange and they can take it anytime they want

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.

Most of the time the attack is from inside, if people do great hacks then most probably they have assistance of the employees who are working for the company being attacked. The best way to stay safe is to not trust anyone with anything.

Indeed, wealthy people never really brag about their money, whereas the average person always thinks they are rich compared to others.

There is no comparision behind the hardfork and the private key usage. Private key can be safe using desktop wallet also but hork fork cannot be controlled by us. Check with your master clearly about that. If you are regular trader in any reputed btc exchange you just need to set up the trade value and limit in your merchant account continuously whenever the price changes.

Maybe he is a day trader and he need uses Bitcoin for trades everyday.
Example my master teaches me knowledge in trade crypto, he never use could or desktop wallet can keep private key for store his Bitcoin, even exchange has annouce about the risk lost Bitcoin in HardFork.

>Money loves silence

This is great advice applicable everywhere

I know a few people who do that too, but I think it's more luck than anything else. I personly keep thr majority of my coins in cold storage, paper wallets etc and the trading amount on hot wallet. When I finish trading I always withdraw everything from exchange. This way I don't worry and I can choose any exchange I want.

Security is one of the major concerns of all the holders, especially when it comes to digital world. I keep my bitcoins in two wallets but I have met a guy who has no wallet and keeps his coins on one exchange site. Still, he hasn't lost a single digit from his amount.
He must be clever with his passwords and keys.

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.

That's the most important i think. 2fa helps secure your coins for any transaction so it's essential that you activate that gor safety. Though i don't have that much btcs in my wallet and i don't think anyone would consider hacking my wallet but it's never a bad idea to be sure