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Title: Mining directly to exchange account? Post by: AlliumPorrum on December 17, 2013, 08:22:36 PM Is it possible to mine coins directly to the account in some exchange (such as Cryptsy)? Or do I always need an own wallet for every coin that I'm mining, and then deposit them from my wallet to the account?
Since I would like to mine a few different coins and also do some trading between them, it would much easier to get them directly to the trading account. Title: Re: Mining directly to exchange account? Post by: nachius on December 17, 2013, 08:24:48 PM You CAN mine directly to an exchange by setting your payout address as your exchange addy, but it's generally a bad security practice, but again no technical factor stopping it with the exception of certain pools that don't work quite right with it.
Title: Re: Mining directly to exchange account? Post by: OgNasty on December 17, 2013, 08:25:58 PM Is it possible to mine coins directly to the account in some exchange (such as Cryptsy)? Or do I always need an own wallet for every coin that I'm mining, and then deposit them from my wallet to the account? Since I would like to mine a few different coins and also do some trading between them, it would much easier to get them directly to the trading account. It is a bad security practice as mentioned above, but possible. Just make sure your exchange accepts multiple deposits to the same deposit address. Some don't. Title: Re: Mining directly to exchange account? Post by: AlliumPorrum on December 17, 2013, 08:30:00 PM Ok, thanks!
Could you please give a bit more detail about that security issue; why it might be a problem? Title: Re: Mining directly to exchange account? Post by: vm1990 on December 17, 2013, 11:27:11 PM Ok, thanks! Could you please give a bit more detail about that security issue; why it might be a problem? its harder to keep online stuff safe as to steal it they would just need a password. if you do decide to do it id recommend btc-e as there addresses are fixed to each account Title: Re: Mining directly to exchange account? Post by: AlliumPorrum on December 18, 2013, 06:31:45 AM Ok, thank you. Naturally I would not keep much coins in such an account, maybe transfer them to own wallet 1-2 times a week.
Do you know if this is possbile with Cryptsy or E-coins? What I have understood, they might have the best altcoin selection. Title: Re: Mining directly to exchange account? Post by: AndrewWilliams on December 18, 2013, 07:42:27 PM Don't use Cryptsy, you will be sorry...
Title: Re: Mining directly to exchange account? Post by: AlliumPorrum on December 18, 2013, 08:29:19 PM ...because of?
What would be a better choice, when large number of altcoins is needed? And why, in your opinion? Title: Re: Mining directly to exchange account? Post by: AndrewWilliams on December 18, 2013, 09:49:29 PM ...because of? What would be a better choice, when large number of altcoins is needed? And why, in your opinion? Cryptsy having way too many issues right now. Huge delays in getting coins out and coins getting stuck. Not sure what a good alternative ATM is... BTC-E is great but limited for alt coins, can only do LTC, TRC, PPC, NVC, NMC. Title: Re: Mining directly to exchange account? Post by: DrG on December 18, 2013, 10:44:40 PM Never use an exchange or pool as a bank. Only keep $ on an exchange that you're willing to lose. Of course with no risk come no gains, but there is a risk with all exchanges at present.
Title: Re: Mining directly to exchange account? Post by: AlliumPorrum on December 19, 2013, 08:53:56 AM Never use an exchange or pool as a bank. Only keep $ on an exchange that you're willing to lose. Of course with no risk come no gains, but there is a risk with all exchanges at present. Well, as I said previously; "naturally I would not keep much coins in such an account, maybe transfer them to own wallet 1-2 times a week". But it would just be easier to mine altcoins directly to an account where I can trade with them to other coins, instead of creating a separate wallet for every coin type. Title: Re: Mining directly to exchange account? Post by: DrG on December 19, 2013, 03:20:06 PM Never use an exchange or pool as a bank. Only keep $ on an exchange that you're willing to lose. Of course with no risk come no gains, but there is a risk with all exchanges at present. Well, as I said previously; "naturally I would not keep much coins in such an account, maybe transfer them to own wallet 1-2 times a week". But it would just be easier to mine altcoins directly to an account where I can trade with them to other coins, instead of creating a separate wallet for every coin type. If you're trading them everyday at BTCe then yeah that would be fine. Just make sure you pull the profits out every week or so just in case. Title: Re: Mining directly to exchange account? Post by: AlliumPorrum on December 19, 2013, 03:31:54 PM If you're trading them everyday at BTCe then yeah that would be fine. Just make sure you pull the profits out every week or so just in case. BTCe would fine, BUT they don't have very wide offering for altcoins. Any other good option? Title: Re: Mining directly to exchange account? Post by: DrG on December 20, 2013, 11:51:25 AM If you're trading them everyday at BTCe then yeah that would be fine. Just make sure you pull the profits out every week or so just in case. BTCe would fine, BUT they don't have very wide offering for altcoins. Any other good option? To be honest I don't trust any of the smaller crypto exchanges (not like I trust BTCe all that much either). |