NEver keep all your coins on an exchange

[bjman]

What about the people for whom trading is basically a job--they can't just keep their coins in a paper wallet. I guess the best strategy would be to not keep all their coins at any ONE exchange.

[shinratensei_]

Gox
Cryptsy..

If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.

You called it!
The warning was there if they did not believe you.
I stumbled on this 1.5 month old thread and was surprised what you said.
It was a revelation! 

Okay, but the first important things is needs for us to remember that is the possibility for the trading site is gotta a crime or another having relationship with embezzlement or lost money is always there and always have a chance to getting that, maybe for next time we will see a new case appears again because we don't know or can't predict about the important reason or factor of it. because there are 2 possibilities and 1 it's really getting a hacked and the second it's not pure getting a crime and internal problem in there.

[Alepaff]

Of course, the other day i wasn't hable to enter to Yobit, life for 5 days, i was desesperated, so a few days ago, i transfer all my balance to Coinbase, i wan't to do it on my own computer but i don´t know how to do this

[Bestwishes745]

after seeing the results of bitfinex now I am afraid from exchanges and now I try to distribute my bitcoin in different exchanges so that if one exchange is hacked the others will be with me and I will not lose all of my coins.

[bitkilo]

Of course, the other day i wasn't hable to enter to Yobit, life for 5 days, i was desesperated, so a few days ago, i transfer all my balance to Coinbase, i wan't to do it on my own computer but i don´t know how to do this

Coinbase is not a good choice to keep your coins, if coinbase was to go under then it would be the same as an exchange you would loose everything.
Move your coins to a wallet that you control and have the private keys to the address.

[marky89]

Of course, the other day i wasn't hable to enter to Yobit, life for 5 days, i was desesperated, so a few days ago, i transfer all my balance to Coinbase, i wan't to do it on my own computer but i don´t know how to do this

Coinbase likely has a more secure setup with significant cold storage. But remember, all exchanges are prone to being hacked. And particularly in the case of an inside job, even cold storage is not safe. Remember, Coinbase is also just issuing IOUs. Someday, the bitcoins backing those IOUs may go poof.

My problem is inability to hedge fiat value of BTC without exchanges. So I may be out significant money at Bitfinex since I was holding USD, waiting to swing trade back into BTC. (And yes, planned to buy at $460s. FML)

[bigfryguy]

What about the people for whom trading is basically a job--they can't just keep their coins in a paper wallet. I guess the best strategy would be to not keep all their coins at any ONE exchange.

hopefully soon, (maybe within the month) waves will release its wallet side dEx with fiat and BTC integration, followed up with it linking to mycelium so that all BTC users can have their own trading engine in  their own trusted wallet.  then you can trade from the safety of your own wallet, and will only have to use centralized KYC compliant exchanges to get your fiat back into your bank account.

[PokerFace3]

What about the people for whom trading is basically a job--they can't just keep their coins in a paper wallet. I guess the best strategy would be to not keep all their coins at any ONE exchange.

hopefully soon, (maybe within the month) waves will release its wallet side dEx with fiat and BTC integration, followed up with it linking to mycelium so that all BTC users can have their own trading engine in  their own trusted wallet.  then you can trade from the safety of your own wallet, and will only have to use centralized KYC compliant exchanges to get your fiat back into your bank account.

I've learned in my college that money is like eggs if kept in single crate all eggs would collapse if the crate falls down but if it is separated and kept in different crates than if one falls other remains so lets not blame wallet or exchange it is better to have  our bitcoin invested on worthiest medium possible

[ajun96]

What about the people for whom trading is basically a job--they can't just keep their coins in a paper wallet. I guess the best strategy would be to not keep all their coins at any ONE exchange.

of course the trader would put their money into the exchange because they did exchange at the site. their capital may not keep in their wallet because it will be difficult. but one thing that should be remembered by all traders that do not keep too much capital in one exchange sites. nothing really trusted on the internet

[Tyrantt]

Kind of surprising that this was needed to be said. I believe that that's clear rational thinking and simply with money you just can't be too sure about someone else keeping it for you, so it's better to keep it at your side and deposit there obly when you intend on using it in that moment.

[Dudeperfect]

I have very low amount of bitcoins in exchanges (I keep balance as much as I trade, nothing more than that). I don’t believe any third party even with critical security measures not because they have any dis-advantage but I have more confidence on my offline storage.
You can’t really predict how your exchange will treat you if they would meet any trouble, as I just came across this post.

• Hacked bitcoin firm plans to spread losses across all users

Some users who were not hacked will feel angry at having to stump up their funds to cover shortfalls elsewhere on the exchange. Whether it's the right decision or not - time will tell," he added. "Other exchanges have funded the losses off their own book - but then the losses weren't so extreme." - CNBC

[Mozdalifa17]

i usually keep my btc in poloniex because it is very trusted platform with many wales having raising big amount of btc in daily use ,

[Herbert2020]

i usually keep my btc in poloniex because it is very trusted platform with many wales having raising big amount of btc in daily use ,

did you even read this topic before posting in it??

all other exchanges that has been hacked in the past were very trusted platforms. do you think bitfinex was less trusted than your precious poloniex? no it was once trusted and people like you held their coins there when one day they decided to run away or say we were hacked!

[X-ray]

i usually keep my btc in poloniex because it is very trusted platform with many wales having raising big amount of btc in daily use ,

did you even read this topic before posting in it??

all other exchanges that has been hacked in the past were very trusted platforms. do you think bitfinex was less trusted than your precious poloniex? no it was once trusted and people like you held their coins there when one day they decided to run away or say we were hacked!

i guess he's not reading and don't even know the differences between an exchanger and a bitcoin wallet,and yeah poloniex is trusted but can't make it trusted forever till there's some hole in the site been found

[daringdiscovered]

Gox
Cryptsy..

If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.

I don't put all my bitcoins in an exchange site. I don't treat it is as my personal wallet. What i left there is my altcoins and make it circulate to make profit. I divide my bitcoins on different wallet like xapo, blockchain, coinbase, etc. It is also difficult to trust exchange sites even if they don't get hacked because we are not in control of it. Anytime they can run away and take our bitcoin if they want.

[MingLee]

Gox
Cryptsy..

If you have most of your coins in Bitfinex.. there will be little mercy when they disappear.

I don't put all my bitcoins in an exchange site. I don't treat it is as my personal wallet. What i left there is my altcoins and make it circulate to make profit. I divide my bitcoins on different wallet like xapo, blockchain, coinbase, etc. It is also difficult to trust exchange sites even if they don't get hacked because we are not in control of it. Anytime they can run away and take our bitcoin if they want.

I personally think that keeping your coins divided is one of the best things you can do, but make sure you have all the credential information available, otherwise you might have a bad day or two trying to recover it.

Aside from that, you have a good idea and I commend you on doing that (although it means nothing coming from me). Most people on this board wouldn't do something like that unless they were told to.

[serjent05]

Of course, the other day i wasn't hable to enter to Yobit, life for 5 days, i was desesperated, so a few days ago, i transfer all my balance to Coinbase, i wan't to do it on my own computer but i don´t know how to do this

Coinbase is not a good choice to keep your coins, if coinbase was to go under then it would be the same as an exchange you would loose everything.
Move your coins to a wallet that you control and have the private keys to the address.

True even how secure  it is, as long as you don't have access to the private key off your bitcoin, it is more likely be lost once it  is hacked and shutdown.  Best thing to do is have a wallet where you have a full control of it and make sure  you have it backed up.

[CroSany]

If we cant keep money called bitcon in exchanger can we then use exchanger to buy shares which are giving prodit or dividends or not without risking own money in exchanger or not?

[razor5cl]

Of course, the other day i wasn't hable to enter to Yobit, life for 5 days, i was desesperated, so a few days ago, i transfer all my balance to Coinbase, i wan't to do it on my own computer but i don´t know how to do this

Coinbase is not a good choice to keep your coins, if coinbase was to go under then it would be the same as an exchange you would loose everything.
Move your coins to a wallet that you control and have the private keys to the address.

True even how secure  it is, as long as you don't have access to the private key off your bitcoin, it is more likely be lost once it  is hacked and shutdown.  Best thing to do is have a wallet where you have a full control of it and make sure  you have it backed up.

This is a VERY important idea, but one that will always be ignored by someone. Case in point with Gox, Bitfinex, etcetera. Not knowing how to do something is a poor excuse for not doing it in the age of Google, and having your own wallet on your computer is probably even simpler than setting a web-based one up as you don't need personal details etcetera.

[magemist]

You never want to keep all you coins in one place. If someone gets access to you wallet in some way then you will have everything taken from you.
Why wouldn't you not keep it in different locations? That is the only thing that is the sensibly thing to do.