Quote
I'm not even going to consider btc-e as a "safe" exchange because it's located in russia and supposedly run by mobsters.
Topic: What exchange would you deem better in terms of security, bitstamp or Gox? (Read 2385 times)
May 30, 2013, 08:58:05 AM
May 30, 2013, 08:16:33 AM
I think your question is impossible to answer at this point. None of us really knows how these exchanges are run and I'm sure not even the owners know what regulation clearly applies to them.
Bitstamp I think has relocated to the UK, and I assume they are being closely watched by regulatory bodies. It would make sense though if there could be some sort of way for people to check the background of these exchanges.
Bitstamp I think has relocated to the UK, and I assume they are being closely watched by regulatory bodies. It would make sense though if there could be some sort of way for people to check the background of these exchanges.
They have an address in UK but are not regulated there. They use a Slovenian branch of Italy's UniCredit and are not subject to UK oversight.
Hmm, well I hope they are keeping track of what regulation they need to follow! And let us know that they are!
May 30, 2013, 08:13:12 AM
I think your question is impossible to answer at this point. None of us really knows how these exchanges are run and I'm sure not even the owners know what regulation clearly applies to them.
Bitstamp I think has relocated to the UK, and I assume they are being closely watched by regulatory bodies. It would make sense though if there could be some sort of way for people to check the background of these exchanges.
Bitstamp I think has relocated to the UK, and I assume they are being closely watched by regulatory bodies. It would make sense though if there could be some sort of way for people to check the background of these exchanges.
They have an address in UK but are not regulated there. They use a Slovenian branch of Italy's UniCredit and are not subject to UK oversight.
May 30, 2013, 07:57:26 AM
I think your question is impossible to answer at this point. None of us really knows how these exchanges are run and I'm sure not even the owners know what regulation clearly applies to them.
Bitstamp I think has relocated to the UK, and I assume they are being closely watched by regulatory bodies. It would make sense though if there could be some sort of way for people to check the background of these exchanges.
Bitstamp I think has relocated to the UK, and I assume they are being closely watched by regulatory bodies. It would make sense though if there could be some sort of way for people to check the background of these exchanges.
May 30, 2013, 07:54:49 AM
I'm not even going to consider btc-e as a "safe" exchange because it's located in russia and supposedly run by mobsters.
That leaves Bitstamp and Gox (not considering the other smaller exchanges like vircurex) as the biggest exchanges. From what I can gather Bitstamp nor Gox had any recent security breaches beside ddos attacks, although Gox had some security breaches in the past but these didn't include any theft of funds or bitcoins.
Bitstamp is located in Europe, and doesn't require verification with ID and utility bill for its users. Only when users want to upgrade their transfer and trade limits they are required to verify. Gox is located in Japan, and now requires verification for all its users and seems to be very compliant with the recent US regulatory changes. Even though they made the snafu of not having registered with Fincen and having their dwolla account seized. The CEO of Gox is known to the general public, Mark Karpeles and doesn't seem to have a criminal background. What do we know about the leadership of Bitstamp? From what I have read around the forums, Bitstamp seems to have better customer service than Gox. Withdrawals and deposits are swiftly executed and support is generally recognized as helpful and fast in their response (my experience is this as well).
So, in conclusion, which one would you deem the safest exchange in terms of:
A) the possiblity of getting shut down, or having crippling regulatory measures taken by US or other international anti fraud services.
B) the possibility of major security breaches occuring within the exchange resulting in theft of bitcoins or funds.
That leaves Bitstamp and Gox (not considering the other smaller exchanges like vircurex) as the biggest exchanges. From what I can gather Bitstamp nor Gox had any recent security breaches beside ddos attacks, although Gox had some security breaches in the past but these didn't include any theft of funds or bitcoins.
Bitstamp is located in Europe, and doesn't require verification with ID and utility bill for its users. Only when users want to upgrade their transfer and trade limits they are required to verify. Gox is located in Japan, and now requires verification for all its users and seems to be very compliant with the recent US regulatory changes. Even though they made the snafu of not having registered with Fincen and having their dwolla account seized. The CEO of Gox is known to the general public, Mark Karpeles and doesn't seem to have a criminal background. What do we know about the leadership of Bitstamp? From what I have read around the forums, Bitstamp seems to have better customer service than Gox. Withdrawals and deposits are swiftly executed and support is generally recognized as helpful and fast in their response (my experience is this as well).
So, in conclusion, which one would you deem the safest exchange in terms of:
A) the possiblity of getting shut down, or having crippling regulatory measures taken by US or other international anti fraud services.
B) the possibility of major security breaches occuring within the exchange resulting in theft of bitcoins or funds.
Jump to: