Bitcoin Forum

Quick question regarding selling coins on mtgox. Up until now I've only been mining, and not actually exchanged any coins. I should have done when the price was $250, but I just missed out.

The question is... is it wise to leave coins on my mtgox account? Or is it better to only transfer them over when I'm planning on selling? I know there can be significant time delays in actually transferring them from a wallet to mtgox, and I'd take that into account, but I was wondering if people generally keep their stock of coins in their mtgox accounts as standard practice? Is there any danger in doing this?

TIA

There is a danger! If you leave your account untouched for too long MtGox might close the account and take any currency in it. When bitcoins were $5 a btc MtGox took $200 from me. I haven't touched them since.

Also, they will let you open an account and send money to it and then when you try to take the currency back around they will request verification, or more verification, or then throw in a verification issue they could have mentioned before the fact, or at least they did a year ago.

I don't trust MtGox. Their is nothing good about them. Trade lag nearly 24/7, and really no benefit to using them.

Personally, I'd stick with another exchanger, but that is just me.

And MANY exchangers within the last 2 years have been hacked at least once with most people's bitcoins lost. MtGox has at least been secure so far.

Personally I don't leave coins on any exchange unless I need to (ie there in a buy order) or if its a small amount I wouldn't miss. Probably means I pay more fees but its worth it.

mtgox got hacked before (2011). I mean I trust mtgox the most from all online-wallets out there - but keeping bitcoin at home with the right preperation (cold-storage) ist by far the savest way :-)

Anything can go wrong but eventhough I went thru the Mt.Gox 2011 hack I didn't loose any coins or money. However other have

What about BTC-E ?

why would you sell your bitcoins?? are you a shill, get out of this forum.. buyers only!

I don't like leaving coins or money on MtGox any longer than absolutely necessary to do an exchange.

so is mtgox just the most popular exchange out of a whole bunch?
is bitfloor also an exchange?

thanks

Mt Gox claim they are doing around 80% of all Bitcoin trades


It's run by Russians (Nothing wrong with that BTW) but I did read that they have fake WHOIS info, can anyone confirm?

I won't use anyone that doesn't have 2 step verification

I'm not going to sell them now.. but some day I might want to, so I'm finding out the best way for me.


Thanks for all the advice.