Is it safe to keep your coins in Bitstamp?

[redsn0w]

As the title asks, is it safe to store your coins in Bitstamp's online wallet?

I also don't suggest you to keep 1 satoshi in any exchange, I always recommend to send the coin/s >> exchange them for FIAT (or viceversa) and withdraw it/them fastly (less then 10 minutes of work).
Have you heard about the various hack (firstly the mt.gox , the huge loss of 850'000 btc) and bitstamp, bter, etc ?

you dont need to withdraw it 10 minutes after you can keep it for a few days in my opinion as those problems dont happen too often

No, I don't trust any exchange to keep my bitcoin. Because an exchange is not a bank, wake up! Bitcoin is another thing, as a lot of users said : be your own bank. Don't be a stupid and don't keep never your coin on an exchange, it is not safe for (obviously) you and all the ecosystem.

[Minerjoe]

As the title asks, is it safe to store your coins in Bitstamp's online wallet?

Why would you keep your coins in an online wallet which can be hacked and if fact was already hacked once. Cold storage s the best option or a specialized wallet like trezor.

[chmod755]

Move them to your own wallet, unless you're planning to trade them on Bitstamp very soon.

Make sure to install all security updates for applications on your computer before you install bitcoin-related software + update your anti-malware software and scan your system.

[jonald_fyookball]

Keeping coins on an exchange has two main risks:  Theft by third parties, and problems with the exchange itself.

If you use 2FA, you are reasonably safe from hackers but I wouldn't keep large amounts there.

[poncom]

Keeping coins on an exchange has two main risks:  Theft by third parties, and problems with the exchange itself.

If you use 2FA, you are reasonably safe from hackers but I wouldn't keep large amounts there.

I would not trust Bitstamp, or any exchange for long term storage. The only way to trade is to deposit coins which makes it inevitable you have to store them on an exchange for short spells. After trading I would immediately withdraw them.

[Lauda]

Well if you remembered the story of Mt.Gox or similar exchanges, that would give you an answer. If you store coins on a address of which you do not know the private keys, the money is not yours.
Remember the days of Inputs.io, and similar. It is not recommended that you keep bigger amounts of money in online wallets, exchanges or any service that is.

[Minerjoe]

Maybe he plans this due to ability to set buy/sell triggers. Still I do not think this is a smart idea.

[dhimasnk]

it is not advisable to save bitcoin in an exchanger, because the site is very prone to hackers compromised. Better save your bitcoin at offline wallet to make it secure

[Nagle]

No, it's not safe. Over half of Bitcoin exchanges have failed, usually taking the coins with them.

It doesn't matter how good they seem to be. A lot of exchanges looked safe and reliable right up until you couldn't withdraw.

[Script]

If you're planning storing them for long time don't leave them in any exchange.

[johnyj]

The problem is, if you want to capture the sharp flash crash and buy lots of coins at a bargain price, you must have an order there with enough fiat money backing, so I usually leave some of my fiat money there, not too much bitcoins

[Deadstock]

keep it in electrum..and backup your seed/private key

[bitmarket.io]

I used to keep a lot of BTC on Bitstamp and lend them out for a small interest to other traders. I even wrote a bot that attempted to price my swap offers at what I thought was the optimal price based on the historical trend of the FRR. In the end I collected only a small amount in interest payments. I figured that it wasn't worth the risk and withdrew everything.

That's exactly what I am thinking of doing but ever since that hack I'm VERY skeptical.

[bitmarket.io]

The problem is, if you want to capture the sharp flash crash and buy lots of coins at a bargain price, you must have an order there with enough fiat money backing, so I usually leave some of my fiat money there, not too much bitcoins

That's what I'm trying to do.

Tell me, in the event of a hack, is the fiat safe?  I would assume BTC isn't. And I don't see Bitstamp as a company that would just run off with the fiat.

[deluxeCITY]

It is not safe but i have kept over $100+ to use the chat on a more anonymous exchange for over a year and guess what i still have my coin and dollars so it can be safe but only leave on there what you are willing to right of as a loss don't hold all your coin on there because if the day comes it will be a terrible day indeed. No harm in transferring your coin at the end of the trading day is there really? Better safe than sorry for anything over a few hundred.

[randy8777]

i don't have much myself currently but i keep them safe in my offline wallet.
which means i have full control of my funds. exchanges have proven to be not secure enough.

[Minerjoe]

I would suggest using Bitcoin Armory and never keep BTC online.

[bluudz]

On slightly different note. How much do you believe to blockchain wallet? I quite often keep my coins there to have access to them from other devices.

[camolist]

I used to keep a lot of BTC on Bitstamp and lend them out for a small interest to other traders. I even wrote a bot that attempted to price my swap offers at what I thought was the optimal price based on the historical trend of the FRR. In the end I collected only a small amount in interest payments. I figured that it wasn't worth the risk and withdrew everything.

That's exactly what I am thinking of doing but ever since that hack I'm VERY skeptical.

are you talking about bitstamp? i thought only bitfinex offered this..

[Amph]

On slightly different note. How much do you believe to blockchain wallet? I quite often keep my coins there to have access to them from other devices.

it seems to be the safer one among the online wallets, but in any case it's always better to store them on a cold storage, or a desktop/laptop that is in a isolated envyroment