itay813 (OP)
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March 02, 2016, 06:04:47 PM |
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Hi
How risky is it to buy ethereum from poloniex and storing it in a wallet later?
Did anyone has some experience with it?
How far can I trust the ethereum network to store plenty of my money savings? It says on it's website that it's pre-alpha.
thanks.
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50cent_rapper
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March 02, 2016, 06:15:32 PM |
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How far can I trust the ethereum network to store plenty of my money savings? It says on it's website that it's pre-alpha.
thanks.
You ought to decide by yourself.  |
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edmundduke
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March 02, 2016, 06:23:59 PM |
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Hi
How risky is it to buy ethereum from poloniex and storing it in a wallet later?
Did anyone has some experience with it?
How far can I trust the ethereum network to store plenty of my money savings? It says on it's website that it's pre-alpha.
thanks.
I would say that Poloniex is one of the safest exchanges we have right now and most deffinetly with the biggest volume. They have proven to be trustworthy so far and with the money they are making from the fees i would say they should be pretty happy. They have also held a huge amount of BTC and ETH at any given time. (theres are constantly offers up for several thousand BTC). They haven't run with it and i got a pretty good feeling they wont either. As for ETH price, that is up to you. |
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Yaupgitda
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March 02, 2016, 06:31:59 PM |
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I think Poloniex is quite safe. There are lots of Bitcoin and Ethereum there. Of course, if it is not hacked, it is good.
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tiggytomb
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March 02, 2016, 06:35:28 PM |
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It is as safe as an exchange can be, you mention you will be moving the coins into your own wallet at some point which is a good move, storing a lot of coins on an exchange long term would not be the safest thing to do.
Poloniex is one of the best exchanges right now, usually when these exchanges start to fall to pieces there are warning signs, Cryptsy had warning signs here on the forum so you should be okay but obviously the decision is ultimately yours.
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stoat
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March 02, 2016, 06:47:34 PM |
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Why would it be risky?
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TrueCryptonaire
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March 02, 2016, 06:52:36 PM |
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Why would it be risky?
Because it has been risen pretty fast. I do not know if Poloniex is a risk factor in itself though. |
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DaveyJones
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March 02, 2016, 06:53:27 PM |
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Back in the past Poloniex WAS hacked dont forget that... but unlike cryptsy they told directly about it and brought the money back.
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vlom
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March 02, 2016, 07:07:14 PM |
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Hi
How risky is it to buy ethereum from poloniex and storing it in a wallet later?
Did anyone has some experience with it?
How far can I trust the ethereum network to store plenty of my money savings? It says on it's website that it's pre-alpha.
thanks.
i did not read anything about lost coins because of the eth-network. |
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Sark
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March 02, 2016, 07:23:48 PM |
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Its not very risky, but I wouldn't keep it on an exchange long term. If you do not need to trade it, then you can just purchase it in a straight forward via https://shapeshift.io/ |
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Za1n
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March 02, 2016, 07:33:55 PM |
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Any exchange is risky. It is only a matter of time before someone eyes all the millions of dollars in their possession (either internal or external) and comes up with a way to take off with it all. Just buy and get you coins out of there asap and you minimize this risk. As soon as the first sign of trouble appears, stop doing business with the exchange.
Cryptsy showed signs for quite some time something was amiss which many (myself included) choose to ignore. Fortunately I only lost a small amount, which I consider payment for an important lesson. Unless the funds are in your possession, you can never be sure they won't disappear.
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Arrakeen
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March 02, 2016, 08:48:11 PM |
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Any exchange is risky. It is only a matter of time before someone eyes all the millions of dollars in their possession (either internal or external) and comes up with a way to take off with it all. Just buy and get you coins out of there asap and you minimize this risk. As soon as the first sign of trouble appears, stop doing business with the exchange.
Cryptsy showed signs for quite some time something was amiss which many (myself included) choose to ignore. Fortunately I only lost a small amount, which I consider payment for an important lesson. Unless the funds are in your possession, you can never be sure they won't disappear.
Good advice. Paper wallets are your friend...just don't lose them On a similar note, Poloniex locked my account last month because 'someone tried breaking in to it'. They wouldn't give me any information about this alleged attack, just that I need to give them my SS#, photo ID, address, blood type, sexual preference...then they'd give me my account. How the hell is that sufficient? The attacker could have my email account. The attacker could give them their info & have all my funds. There isn't anything Poloniex has to verify that information against, so why would I give all my info? Shady stuff. Buy your ETH, then withdraw - or sell for a profit then withdraw. Don't hold anything valuable on someone else's server  |
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Cyaren
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March 02, 2016, 08:50:38 PM |
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It's not risky buying ethereum from Poloniex itself but you've gotta consider the current pump and dump going on with ether...
I wouldn't consider it as a good store of value, if you're looking to store your wealth over the long term, bitcoin for me seems to be a better option.
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gentlemand
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Welt Am Draht
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March 02, 2016, 09:11:07 PM |
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I'm pretty sure even the creator of ETH wouldn't advise using it as a savings vehicle. No doubt it has a bright future but anything could happen price wise.
Poloniex came back from a hack with honour but considering the volumes on there now hackers must be racking their brain on how to ransack it. Like any exchange get in and get out as quickly as possible. That's what they're for. Nothing more.
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chennuan
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April 05, 2016, 08:12:08 AM |
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i'd rather keep it in Kraken, but perhaps better store in in your Mist wallet and make a backup.
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Macadonian
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April 05, 2016, 09:27:53 AM |
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Hi
How risky is it to buy ethereum from poloniex and storing it in a wallet later?
Did anyone has some experience with it?
How far can I trust the ethereum network to store plenty of my money savings? It says on it's website that it's pre-alpha.
thanks.
I do not think it is risky. As long as you buy the Etheruem in the Poloniex and save it to your own wallet soon. |
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