NEver keep all your coins on an exchange

[drwtsn32]

Would you guys recommend storing your coins on myethwallet? They allow storing different kinds of coins as far as i know. And so are shapeshift. Storing coins in these app can help me access them anywhere with just my Tablet.

I will not comment on this but I can suggest you a few alternatives which are : holytransaction, blockchain ( for only btc ) , dogechain ( for doge coins ) , poloniex and many others
Note : I am not at all saying these sites will nevr scam but they are running since long time.

Technically, blockchain.info would be the safest of those listed (based on the ones I know), as you can get your private key. That said, you will never be safe unless you hold your coins locally and keep them highly protected. No online site is going to change that.

You mean out of all of the "most dangerous ones", blockchain.info is the safest.
Because no online wallet is safe wallet.

[dearbesz1219]

I agree, there are lots of history where people who left their coins in exchange lost everything.  GOX and  Cryptsy are the bigger one, and there are some small exchanges too like sharex that just close and run with their client's Coin not saying the one posting this message have First hand experience of losing coins to an exchange/trading platform that shutdown.

Which means that your saying we need to be very careful if we are going to left our coins in different exchange, once our coins being sold at once we must put it in our safety storage wallet.

[randy8777]

Would you guys recommend storing your coins on myethwallet? They allow storing different kinds of coins as far as i know. And so are shapeshift. Storing coins in these app can help me access them anywhere with just my Tablet.

I will not comment on this but I can suggest you a few alternatives which are : holytransaction, blockchain ( for only btc ) , dogechain ( for doge coins ) , poloniex and many others
Note : I am not at all saying these sites will nevr scam but they are running since long time.

Technically, blockchain.info would be the safest of those listed (based on the ones I know), as you can get your private key. That said, you will never be safe unless you hold your coins locally and keep them highly protected. No online site is going to change that.

You mean out of all of the "most dangerous ones", blockchain.info is the safest.
Because no online wallet is safe wallet.

as long as you aren't the owner of your coins, and they are stored online, then there isn't such a thing as a safe online wallet service. you can however say that it is a well respected and trustworthy service.

[bryant.coleman]

You mean out of all of the "most dangerous ones", blockchain.info is the safest.
Because no online wallet is safe wallet.

If you really know how to store your coins, and if your computer is free from keyloggers, spyware and trojans, then blockchain.info can be one of the safest places to store your coins. I know a few people who got their coins stolen from blockchain.info wallets. But it was entirely due to their fault. They were careless with their private keys.

[noormcs5]

You mean out of all of the "most dangerous ones", blockchain.info is the safest.
Because no online wallet is safe wallet.

If you really know how to store your coins, and if your computer is free from keyloggers, spyware and trojans, then blockchain.info can be one of the safest places to store your coins. I know a few people who got their coins stolen from blockchain.info wallets. But it was entirely due to their fault. They were careless with their private keys.

The blockchain itself, the concept and system of confirmation, solid, the people factor, flawed.

[dezoel]

I agree, there are lots of history where people who left their coins in exchange lost everything.  GOX and  Cryptsy are the bigger one, and there are some small exchanges too like sharex that just close and run with their client's Coin not saying the one posting this message have First hand experience of losing coins to an exchange/trading platform that shutdown.

Which means that your saying we need to be very careful if we are going to left our coins in different exchange, once our coins being sold at once we must put it in our safety storage wallet.

The best thing to do is to withdraw your profits on regular basis and only keep initial investment on exchange sites, and profits should be transferred to cold storage to minimize risks.

[BeGoods]

I agree dont keep all your coin in an exchange if you are not using it or placed in buy or sell wall.  Better withdraw your coin that is not in for trading especially your BTC because we never know what will happen to the exchange on the next dayl.

yeah agree I think if you do not have plans to convert it to fiat or perform better trading counterparties my advice put your bitcoin into the desktop wallet or at least protected from third parties. because any exchange that is owned by a third party will have the risk of losing

[Denker]

I agree, there are lots of history where people who left their coins in exchange lost everything.  GOX and  Cryptsy are the bigger one, and there are some small exchanges too like sharex that just close and run with their client's Coin not saying the one posting this message have First hand experience of losing coins to an exchange/trading platform that shutdown.

Which means that your saying we need to be very careful if we are going to left our coins in different exchange, once our coins being sold at once we must put it in our safety storage wallet.

The best thing to do is to withdraw your profits on regular basis and only keep initial investment on exchange sites, and profits should be transferred to cold storage to minimize risks.

Absolutely.This is the best way to do it.
Make your trades, and withdraw your profits immediately.
Only leave your trading amount on the exchange.But make sure this amount isn't hurt you if the exchange gets hacked or closed.
Many people are greedy as hell and therefore risk way too much money.And when shit happens the crying is huge and anybody else will get blamed.

[Rusmintan]

I agree, there are lots of history where people who left their coins in exchange lost everything.  GOX and  Cryptsy are the bigger one, and there are some small exchanges too like sharex that just close and run with their client's Coin not saying the one posting this message have First hand experience of losing coins to an exchange/trading platform that shutdown.

Which means that your saying we need to be very careful if we are going to left our coins in different exchange, once our coins being sold at once we must put it in our safety storage wallet.

The best thing to do is to withdraw your profits on regular basis and only keep initial investment on exchange sites, and profits should be transferred to cold storage to minimize risks.

Absolutely.This is the best way to do it.
Make your trades, and withdraw your profits immediately.
Only leave your trading amount on the exchange.But make sure this amount isn't hurt you if the exchange gets hacked or closed.
Many people are greedy as hell and therefore risk way too much money.And when shit happens the crying is huge and anybody else will get blamed.

That is a very good advice. By doing that, you will not lose a lot of money. But what happen if you do not make profit in the trading?

[DeathAngel]

It goes without saying, how many people have been so badly burnt losing coins due to exchanges or online wallets getting hacked. You are responsible for the security & safety of your coins, please be vigilant.

[amacar2]

Bitfinex is one of the recent example with which many have lost millions of their hard earned bitcoin which were in bitfinex wallets. Most of the exchangers try to have good security to protect users funds however hackers are being even smarter and they now a days mainly focused on bitcoin related businesses specially exchange platforms as they store very large amount of bitcoin. So better not to keep all your coins on a single exchange platform.

[Jambolb2]

It goes without saying, how many people have been so badly burnt losing coins due to exchanges or online wallets getting hacked. You are responsible for the security & safety of your coins, please be vigilant.

Exactly.... Recently before sometimes when bitfinex for hacked and so many users lost their coins because of that.. that is the reason why keeping the coins in exchanges is never safe... even if the exchange is trusted but getting hacked is also something... so just keep the coins that you use for trading and withdraw others to your wallet...

[smho_16]

This needs to be said almost everyday in the forum. I see everyday cases of users not accessing their funds from different online wallets. I have tried to tell them to switch to desktop or hardware wallet and the only answer I get is how good is their blockchain.info wallet unfortunately.

Having said that, it's the same with the exchanges. If you really cannot stay without trading, then do the trade and immediately after withdraw your coins to a safe wallet. Security of your funds is all only on you in bitcoin.

[drwtsn32]

It goes without saying, how many people have been so badly burnt losing coins due to exchanges or online wallets getting hacked. You are responsible for the security & safety of your coins, please be vigilant.

I just wanna give a follow-up to this. Being vigilant is right but keep being vigilan at all times!
You know because anything here could scam you or steal money from you. Even the sites you thought were legit.

[subhiii]

Yes its really not safe to keep all our coins in any of the exchange because nowdays we just cannot trust any of the exchanges so better to keep very minimal amount there and keep rest of the coins in the trustable wallet only.

[cokkapaga]

I agree, its not a safe to store your coin on exchanges
its better to save it in your the wallet. for the moment an exchanges is not safe, its easy to attach by the hackers.

[Noctis Connor]

Gox
Cryptsy..

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

Yes i never stock my bitcoin in exchange website specially when i made profit already i always withdrew my profit and or i always buy cheap coins to sell high in future month or upcomming months some exchange website has no mercy they always alibies that there attack of some hackers

[magemist]

Well no doubt and don't keep all your coins in one wallet. That is just being irresponsible with your available bitcoins.
Putting some of them into cold storage would be your best bet to have them some what safe.

[Betwrong]

I think the reason people still keep their coins on an exchange is that they don't want to lose that small part of their money which they should pay for withdrawing. This approach is not a good one though. You should easily accept losing a small fraction of your money in order to not lose much more.

[talkbitcoin]

I think the reason people still keep their coins on an exchange is that they don't want to lose that small part of their money which they should pay for withdrawing. This approach is not a good one though. You should easily accept losing a small fraction of your money in order to not lose much more.

no that's not it.
a lot of traders who you see around here are day traders and that means they are always active on an exchange site making trades so this means they always have an open order somewhere on the exchanger orderbook and the hacks and running aways happen suddenly there is no warning so you can withdraw before that.