Bitcoin Forum

Other => Beginners & Help => Topic started by: 88coins on September 17, 2017, 10:55:31 PM



Title: Bit Coin Wallet
Post by: 88coins on September 17, 2017, 10:55:31 PM
I have 2 bitcoins i am keeping it my exchange where i purchased it. is it safe to keep in exchange wallet ??..


Title: Re: Bit Coin Wallet
Post by: Immakillya on September 18, 2017, 12:02:05 AM
If you are going to keep it, then keep it to your wallet. There's a lot of trusted wallet. Mycelium and Electrum is what i preferred most. You have full control to your funds because you have access to your private keys. Unlike exchange hot wallets, you don't have access to your private keys. Also exchanges and web wallets are not safe to use since they are the most prone from hacking causing the funds stole by hackers.

As i said, if you're gonna keep it for long time. Store them to your wallets and make sure that your decice is safe and protected with antivirus. Or better store them on cold wallet, hardware wallet like ledger or paper wallet and store them to safety deposit box.


Title: Re: Bit Coin Wallet
Post by: Cryptomover on September 18, 2017, 12:27:02 AM
If you are going to keep it, then keep it to your wallet. There's a lot of trusted wallet. Mycelium and Electrum is what i preferred most. You have full control to your funds because you have access to your private keys. Unlike exchange hot wallets, you don't have access to your private keys. Also exchanges and web wallets are not safe to use since they are the most prone from hacking causing the funds stole by hackers.

As i said, if you're gonna keep it for long time. Store them to your wallets and make sure that your decice is safe and protected with antivirus. Or better store them on cold wallet, hardware wallet like ledger or paper wallet and store them to safety deposit box.

Indeed, for short-medium term store them in desktop wallets like Mycelium and Electrum, while for long-term holding its better to buy a hardware wallet like Trezor and Ledger. Paper wallets are a bit more difficult to create and keep but its a cheaper alternative to hardware wallets.


Title: Re: Bit Coin Wallet
Post by: HabBear on September 18, 2017, 03:03:15 AM
I have 2 bitcoins i am keeping it my exchange where i purchased it. is it safe to keep in exchange wallet ??..

Which exchange? Some have better reputations than others.

More importantly, though, why do you want to keep it in an exchange? There are a lot of save cold wallets or mobile wallets that eliminate the risk of working with a third party.

Here's a site that allows you to best compare your options -- https://bitcoin.org/en/choose-your-wallet (https://bitcoin.org/en/choose-your-wallet) -- but keep in mind that this site doesn't evaluate all wallets that are available.


Title: Re: Bit Coin Wallet
Post by: mk4 on September 18, 2017, 04:34:25 AM
If the exchange you're storing your bitcoins in gets fucked, you get fucked along with them. Depending on what device your using, I would suggest Copay (https://copay.io/) if you're an android user or Electrum (https://electrum.org/) if you prefer storing your bitcoin in your windows computer. But since you have 2 bitcoin, I'm gonna assume you can afford hardware wallets so I'd personally purchase a Ledger Nano S (https://www.ledgerwallet.com/products/ledger-nano-s) or a Trezor (https://trezor.io/) for more extra security.

It's really important that you have control over your wallet's private keys.


Title: Re: Bit Coin Wallet
Post by: 88coins on September 18, 2017, 05:29:48 AM
I have 2 bitcoins i am keeping it my exchange where i purchased it. is it safe to keep in exchange wallet ??..

Which exchange? Some have better reputations than others.

More importantly, though, why do you want to keep it in an exchange? There are a lot of save cold wallets or mobile wallets that eliminate the risk of working with a third party.

Here's a site that allows you to best compare your options -- https://bitcoin.org/en/choose-your-wallet (https://bitcoin.org/en/choose-your-wallet) -- but keep in mind that this site doesn't evaluate all wallets that are available.

Zebpay


Title: Re: Bit Coin Wallet
Post by: cryptobaht on September 18, 2017, 09:17:38 AM
Never, absolutely never keep your coins with exchanges - unless you're actively trading them, of course. If you bought it for long term then put them in paper wallet and keep it somewhere safe.


Title: Re: Bit Coin Wallet
Post by: DigitalFox on September 18, 2017, 09:37:27 AM
Never, absolutely never keep your coins with exchanges - unless you're actively trading them, of course. If you bought it for long term then put them in paper wallet and keep it somewhere safe.

I totally agree with above said. Exchanges get hacked, busted by authorities, have coin maintenance periods... why risk?


Title: Re: Bit Coin Wallet
Post by: Tonstar on September 18, 2017, 02:07:43 PM
I use electrum
Exchange wallets- NEVER


Title: Re: Bit Coin Wallet
Post by: langlamobile on September 18, 2017, 02:46:38 PM
i think you may keep it in pc wallet, or  cool storage   you're gonna keep it for long time.

it is better than exchange , long time , exchanges can be ban or hacked not safe .


Title: Re: Bit Coin Wallet
Post by: loopes on September 18, 2017, 02:57:10 PM
I have 2 bitcoins i am keeping it my exchange where i purchased it. is it safe to keep in exchange wallet ??..
if you wanna keep your bitcoins (2 btc) into exchanger for long period surely the answer is NO it is not safe to keep bitcoin in exchanger continuously. you could probably scammed by exchanger or someone can stole it. you better to keep your bitcoin into hard wallet or dekstop wallet.


Title: Re: Bit Coin Wallet
Post by: A1exander on September 18, 2017, 03:10:24 PM
I have 2 bitcoins i am keeping it my exchange where i purchased it. is it safe to keep in exchange wallet ??..

No, unless you use these coins in active trading and they need to be available at the exchange. 2 BTC now is large enough to use a secure wallet which is completely under your control.


Title: Re: Bit Coin Wallet
Post by: ChainSmoker on September 18, 2017, 03:38:01 PM
I have 2 bitcoins i am keeping it my exchange where i purchased it. is it safe to keep in exchange wallet ??..
No it's not safe.Buy a hardware wallet and store it there.2 Bitcoins is not a small amount so don't risk it.You don't own private keys to your bitcoins on exchange so buy a hardware wallet or use a desktop wallet like electrum to store your coins.


Title: Re: Bit Coin Wallet
Post by: VisualizeByte09F9 on September 18, 2017, 03:40:07 PM
https://bitcoin.org/en/choose-your-wallet

Use an exchange as an exchange.  Only leave money on there if you intend to trade it in a day or so.

If you intend to spend it, keep it in mobile or desktop wallet.

If you intend to keep it long term a cold wallet.

Always back up. Double check first and last characters before you hit send.  Make sure you send to someone reputable, or use multisig escrow and a reputable trust agent.


Title: Re: Bit Coin Wallet
Post by: margrettco62 on September 18, 2017, 03:42:39 PM
I have 2 bitcoins i am keeping it my exchange where i purchased it. is it safe to keep in exchange wallet ??..

If you use 2 BTC to trade then you can keep it in exchange wallet but if you want to hold it for long time then you should not use exchange wallet. in the good day your account you can be hack, ban .... for a stupid reason. Be see BTC-E is example


Title: Re: Bit Coin Wallet
Post by: VisualizeByte09F9 on September 18, 2017, 03:49:28 PM
And diversify.

Keep some in a hot wallet, some In a cold wallet


Title: Re: Bit Coin Wallet
Post by: Dudeperfect on September 18, 2017, 04:31:10 PM
I wouldn't recommend you to keep your funds in exchange unless you are going to trade daily. The best way is to use flexible offline wallet like Trezor where you will be able to keep your Bitcoins offline and yet you will be able to send those funds without any hassle and on the other hand, you can use the securely generated paper wallet to securely store your funds for the long term.


Title: Re: Bit Coin Wallet
Post by: Bacchu on September 18, 2017, 05:27:20 PM
I have 2 bitcoins i am keeping it my exchange where i purchased it. is it safe to keep in exchange wallet ??..
No,never.its not safe to kept your bitcoin in exchange wallet.exchange platform can anytime hacked with the hacker.it will be good idea if you can move them into your desktop or hardware wallet.without private key no one wallet is safe and secure. if you want to trade with your bitcoin than try to set 2FA. it is safe also you can prevent hacked your account.


Title: Re: Bit Coin Wallet
Post by: pperi041 on September 18, 2017, 08:19:07 PM
I have 2 bitcoins i am keeping it my exchange where i purchased it. is it safe to keep in exchange wallet ??..

Look into buying a cold storage wallet, such as a Nano Ledger or Trezor. This will allow you to keep your tokens stored offline, not allowing them to be vulnerable if an exchange were to get hacked.


Title: Re: Bit Coin Wallet
Post by: darkangel11 on September 18, 2017, 09:38:31 PM
You can keep your coins on an exchange on 2 conditions.
1. You're actively trading
2. It's one of the larger exchanges, not some local one with 100 btc daily volume.

If not, don't risk it and keep coins on your wallet, you can always send it back whenever you want to sell. Keeping it there just because it's convenient is not worth the risk.


Title: Re: Bit Coin Wallet
Post by: edmond_dantes on September 18, 2017, 11:24:24 PM
Best to keep all your bitcoins on your local client like your PC or phone on electrum

and always keep multiple backups with password encrypted in different locations


Title: Re: Bit Coin Wallet
Post by: PX-Z on September 19, 2017, 01:42:11 PM
if you work in bitcoin,you need a bitcoin wallet.

Much better if you specified on what bitcoin wallet after all there are too many kind of bitcoin wallets, not mentioning all of them I will just recommend like electrum desktop wallet as on of the safe wallet and of course it depends on the user itself and the device used because if the user is careless and the device is unsecured then the security given by electrum is useless.


Title: Re: Bit Coin Wallet
Post by: Harutooo on September 20, 2017, 07:15:11 AM
you must keep because you can gain more from price high 


Title: Re: Bit Coin Wallet
Post by: PinkB on September 20, 2017, 07:32:42 AM
Exchange wallet is not safe,you need to withdraw your bitcoin and keep them into a hardware wallet or mycelium wallet. exchange site can be hacked anytime.so try to move them into a safe wallet and keep the private key.


Title: Re: Bit Coin Wallet
Post by: TheBTCAlex on September 20, 2017, 09:24:27 AM
I use Electrum wallet now, and since you have 2 bitcoins, it is really a substantial  amount, and I would suggest you not to store it on exchanges like Coinbase, or on online wallets like blockchain.info, as they have a higher chance of getting hacked than local wallets. Also, if exchanges shut down, theer may be nothing you could do to recover your BTCs, and also, you are not in full control of your money.

With a wallet like Electrum, all that changes, your coins are much more secure, provided that the PC that you use it on, doesn't have any viruses, and is secured, and of course, has an antivirus on it (duh). You are also much more in control of your money this way, you have a lot of flexibility over transaction fees, and have full control over your private keys.
If you plan on storing for years, I would recommend, an offline computer, with multiple backups of the wallet on various offline drives, or even you may try to use a paper wallet, or cold storage, whatever, but do remember to keep a backup of all the wallet stuff.


Title: Re: Bit Coin Wallet
Post by: WildWestRider on September 20, 2017, 03:12:28 PM
Not only can exchanges be hacked, but sometimes maintenance causes them to shut down for longer than you want, should you need access.  Just use exchange wallets for daily trading.