NEver keep all your coins on an exchange

[serjent05]

Gox
Cryptsy..

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

I don't trust any exchange website except one because here in my country i use only bitcoin wallet to hold my bitcoins it is also a exchange website where we can sell our bitcoin into fiat. So that they can able to deposit our money into banks because the bitcoin wallet i use now are partner in some banks where they use to deposit our money.

I agree with you. I also only trust 1 market bitcoin website from my country and so far there is no issue on this website, but i'm not keep many coins on this site.

But like you, the local site has always become my priority because maybe their will giving a more guarantee, in my local exchange there are a people is getting hacked in their wallet and getting stolen but the exchange wanna for indemnify that .

This is always the concern in exchanges.  You will never know when they will run or shut down.  It is always a reminder not to leave your coin in the exchange but the mere problem is that people who are trading in the exchange cannot put an order in their wallet might it be sell order or buy order so they have no choice but to leave those fund in there.

[Leonard2016]

Gox
Cryptsy..

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

I don't trust any exchange website except one because here in my country i use only bitcoin wallet to hold my bitcoins it is also a exchange website where we can sell our bitcoin into fiat. So that they can able to deposit our money into banks because the bitcoin wallet i use now are partner in some banks where they use to deposit our money.

I agree with you. I also only trust 1 market bitcoin website from my country and so far there is no issue on this website, but i'm not keep many coins on this site.

But like you, the local site has always become my priority because maybe their will giving a more guarantee, in my local exchange there are a people is getting hacked in their wallet and getting stolen but the exchange wanna for indemnify that .

This is always the concern in exchanges.  You will never know when they will run or shut down.  It is always a reminder not to leave your coin in the exchange but the mere problem is that people who are trading in the exchange cannot put an order in their wallet might it be sell order or buy order so they have no choice but to leave those fund in there.

people never listen to this warning and they will always end up losing their money too because another exchange just goes down because of a hack or something like that. and there is nothing stopping people from doing it either.

[sabbirshm]

Gox
Cryptsy..

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

I don't trust any exchange website except one because here in my country i use only bitcoin wallet to hold my bitcoins it is also a exchange website where we can sell our bitcoin into fiat. So that they can able to deposit our money into banks because the bitcoin wallet i use now are partner in some banks where they use to deposit our money.

I agree with you. I also only trust 1 market bitcoin website from my country and so far there is no issue on this website, but i'm not keep many coins on this site.

But like you, the local site has always become my priority because maybe their will giving a more guarantee, in my local exchange there are a people is getting hacked in their wallet and getting stolen but the exchange wanna for indemnify that .

This is always the concern in exchanges.  You will never know when they will run or shut down.  It is always a reminder not to leave your coin in the exchange but the mere problem is that people who are trading in the exchange cannot put an order in their wallet might it be sell order or buy order so they have no choice but to leave those fund in there.

people never listen to this warning and they will always end up losing their money too because another exchange just goes down because of a hack or something like that. and there is nothing stopping people from doing it either.

Actually,  it happened to me, I keep my 2.5btc on a exchange site. unfortunately it got hacked so all my btc is vanished and now I am became empty hand.I will request to those people who put their btc to exchange site please if you love your money then transfer to your bitcoin wallet now. otherwise you have to lose your btc and crying like me.

[beerlover]

yes agree with you and its true never keep coins on exchange
but for trading activity we keep some coins on exchange hope it won't scam
but we never know when they will greedy and scamming us

It is okay to leave your coins in an exchanger if you are only going to stop using the exchanger in just a few minutes or at most 2 hours. If you're not going to be using the exchanger overnight, then it's only common sense to withdraw all coins and not keep them there since we cannot guarantee that the exchanger would still be up and running by the next day.

[HaXX0R1337]

Gox
Cryptsy..

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

But it is not said that all exchanges are scams or something, you need to remember that many exchanges have lost their funds,
 but real life companies, not only btc.
So it is nothing new, however you are right ,it happens more often in the BTC area.

[Omegasun]

yes agree with you and its true never keep coins on exchange
but for trading activity we keep some coins on exchange hope it won't scam
but we never know when they will greedy and scamming us

It is okay to leave your coins in an exchanger if you are only going to stop using the exchanger in just a few minutes or at most 2 hours. If you're not going to be using the exchanger overnight, then it's only common sense to withdraw all coins and not keep them there since we cannot guarantee that the exchanger would still be up and running by the next day.

for me i always left my coins on exchange. i used c-cex since i start in bitcoin. because withdrawal fee is big if you in and out your money in an exchange. just use the right exchange so that you will not be scam or loss.. and learn to anticipate what gonna happen by reading news and article about them. if you feel that they have suspicious activity and a lot of maintenance. i think that is the right time to withdraw fund. but it is not advisable to always withdraw your fund in exchange because you must consider the fee. Just saying

[X7]

The only reason people should leave it there is direct trading, but if they are in USD its trickier to withdraw to legacy systems (Given the cost) and time.

if you are in BTC you should just withdraw, it takes no time at all to deposit. But we need better solutions for USD

[machinek20]

It is a good advice, exchanger now got a really bad reputation after bitfinex got hacked and the trust for exchanger has decreased significantly, so i think its better to keep your coin in wallet and divide your coin into different wallet

[danherbias07]

Exactly. If you are a bitcoin holder, hold them in your core wallet installed in your own pc. That's the best option. If that's too heavy for your system, use electrum. If you don't trust electrum, use paper wallet. Exchanges come and go. You never know which one will be goxed next.

Not all of us have their own PC so they are forced to just trust this online wallet sites for them to profit in the movement of bitcoin. Are there any more suggestions? We know some just rely on their smartphones.

[darklus123]

Yes it is really adviceble to always withdraw your earnings to your wallet for safety purpose because anytime, anything could really happen so you better be safe for your self than sorry.

[Cereberus]

Exactly. If you are a bitcoin holder, hold them in your core wallet installed in your own pc. That's the best option. If that's too heavy for your system, use electrum. If you don't trust electrum, use paper wallet. Exchanges come and go. You never know which one will be goxed next.

Not all of us have their own PC so they are forced to just trust this online wallet sites for them to profit in the movement of bitcoin. Are there any more suggestions? We know some just rely on their smartphones.

What country do you live in my friend ? I hope you are not living in a very poor country but still even there anyone can buy a PC with old parameters now like a Core2duo with 2 to 4 GB of ram. Even if you have a shared PC with other people you can create a user for yourself and set up your own desktop wallet there. Just make sure to install Mulitbit HD or Electrum and keep the seed safe and you should have no problems. Leaving the coins on the exchange is a very bad idea after so many "hacks" happening lately.

[Rusmintan]

Yes it is really adviceble to always withdraw your earnings to your wallet for safety purpose because anytime, anything could really happen so you better be safe for your self than sorry.

I have a few bitcoins in the exchange for doing the trade. I trade the bitcoin with other altcoins such as Ethereum or Dash. Most of my coins are in my own wallet.

[darklus123]

Yes it is really adviceble to always withdraw your earnings to your wallet for safety purpose because anytime, anything could really happen so you better be safe for your self than sorry.

I have a few bitcoins in the exchange for doing the trade. I trade the bitcoin with other altcoins such as Ethereum or Dash. Most of my coins are in my own wallet.

Thats good sir only put some of those altcoins that you can always afford to lose. Whats worst is that most of the traders do actually do a mass transferring of their profits because of the fees so this may lead to a painful lose if ever.

[ObscureBean]

Exactly. If you are a bitcoin holder, hold them in your core wallet installed in your own pc. That's the best option. If that's too heavy for your system, use electrum. If you don't trust electrum, use paper wallet. Exchanges come and go. You never know which one will be goxed next.

Not all of us have their own PC so they are forced to just trust this online wallet sites for them to profit in the movement of bitcoin. Are there any more suggestions? We know some just rely on their smartphones.

You can keep your Bitcoins online if you don't have a PC, just don't leave them on exchanges. Use a dedicated online wallet service instead. Of course your Bitcoins are still not going to be 100% safe but dedicated wallet sites like Coinbase offer better protection than exchanges. For example with Coinbase, you'll get the option to store your Bitcoins offline and your coins will also be insured against hacks and theft.

[electronicfactura]

I use exchanges whenever I have to trade some part of my coins otherwise I keep them in my own possession in my computer. I really don't trust any exchange anymore after recent hacking events. Since exchanges hold lot of coins and volumes are at hackers list to have some good outcome as individual user chances are less to be hacked. A good antivirus with strong password protected wallet work well.

[Betwrong]

I don't know, maybe one day they will invent something whcih will make impossible to hack an exchange, but for now you are absolutely right. Btw IMO even if such a thing will be invented they still can be hacked from the inside so, yeah, it's better to not keep much coins on an exchange, ever.

[NorrisK]

Exactly. If you are a bitcoin holder, hold them in your core wallet installed in your own pc. That's the best option. If that's too heavy for your system, use electrum. If you don't trust electrum, use paper wallet. Exchanges come and go. You never know which one will be goxed next.

Not all of us have their own PC so they are forced to just trust this online wallet sites for them to profit in the movement of bitcoin. Are there any more suggestions? We know some just rely on their smartphones.

You can keep your Bitcoins online if you don't have a PC, just don't leave them on exchanges. Use a dedicated online wallet service instead. Of course your Bitcoins are still not going to be 100% safe but dedicated wallet sites like Coinbase offer better protection than exchanges. For example with Coinbase, you'll get the option to store your Bitcoins offline and your coins will also be insured against hacks and theft.

The biggest issue I have and the reason why I leave some coins on exchanges is that I don't want to run 100 altcoin wallets and risk getting trojans while executing the wallet..

My major coins like bitcoin, litecoin and some others are always safe in their wallets and transfered when needed (except a few that are used for trading).

But in the end, I'm not willing to run a wallet for random coin x, while I still may want to trade them.

[Fatanut]

I don't know, maybe one day they will invent something whcih will make impossible to hack an exchange, but for now you are absolutely right. Btw IMO even if such a thing will be invented they still can be hacked from the inside so, yeah, it's better to not keep much coins on an exchange, ever.

TL;DR: Nothing is unhackable.

What country do you live in my friend ? I hope you are not living in a very poor country but still even there anyone can buy a PC with old parameters now like a Core2duo with 2 to 4 GB of ram. Even if you have a shared PC with other people you can create a user for yourself and set up your own desktop wallet there. Just make sure to install Mulitbit HD or Electrum and keep the seed safe and you should have no problems. Leaving the coins on the exchange is a very bad idea after so many "hacks" happening lately.

Well, it's never safe to store your coins in an exchanging site. After all, the people are all anonymous and they could use the "hack" card to just run away together with people's fortune. But tbh, one shouldn't store his coins in a single 'basket'. Some people that I talked with suggests that I store 1/3 of my coins in exchanging site, 1/3 in a gambling site, and then 1/3 in my wallet. The reason they suggest that is so that even if any of those 3 gets hacked, only 1/3 of your coins will be gone and not all of them at once.

[Mauser]

Yes it is really adviceble to always withdraw your earnings to your wallet for safety purpose because anytime, anything could really happen so you better be safe for your self than sorry.

I have a few bitcoins in the exchange for doing the trade. I trade the bitcoin with other altcoins such as Ethereum or Dash. Most of my coins are in my own wallet.

That makes sense. A deposit or withdrawl on an Exchange normally takes a few minutes. There is no reason to leave large sums of coins on an Exchange. Better to store them in an online or Desktop wallet.

[dinda22]

sometimes people feel lazy to keep their bitcoin wallet, and prefer to put on the exchanger, because there are moments when the price falls chance it could go very quickly. I also always put more money in exchange.
but did we have to learn from some of the events of hacker exchanger, if one day you do not want to regret losing all your money.