NEver keep all your coins on an exchange

[Hugroll]

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.

agreed, the main reason i keep a percentage of my bitcoins on an exchange is to be able to quickly convert it to fiat if i see a good oppurtunity. if i had that on my wallet then loading to exchange would take atleast an hour due to confirmations.

[Mastsetad]

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.

That is really a foolish thing if really someone thinks that, being that much miser would probably cost you, for just paying 0.1% or something on withdraw fees you put all 100% of your money under risk? Is that wise at all?

[maydna]

for altcoins, maybe i keep on one exchange, and in other exchange i will keep it too, so if i want to make arbitrage, i can quickly sell it into another market exchange, and this is apply to with my btc.

[20kevin20]

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.

That is really a foolish thing if really someone thinks that, being that much miser would probably cost you, for just paying 0.1% or something on withdraw fees you put all 100% of your money under risk? Is that wise at all?

It's an illogical way of thinking. I've bought $100 worth of Monero, but I couldn't buy it all at once so I had to buy 5 times to reach the sum. After 5 transactions, I have lost 1 Monero which means $10. This means I'm left with $90.. It's a misery but I still prefer losing $10 rather than risking $100.

[Astonuse]

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.

That is really a foolish thing if really someone thinks that, being that much miser would probably cost you, for just paying 0.1% or something on withdraw fees you put all 100% of your money under risk? Is that wise at all?

It's an illogical way of thinking. I've bought $100 worth of Monero, but I couldn't buy it all at once so I had to buy 5 times to reach the sum. After 5 transactions, I have lost 1 Monero which means $10. This means I'm left with $90.. It's a misery but I still prefer losing $10 rather than risking $100.

If you buy $100 worth of bitcoin each month in the next 10 years, they will be worth a lot in the future.

[rozee]

I am agree with you,better we never keep our coins on any exchange
and never keep our coins on third parties we will never know what their plan
so we have to keep it on private wallet and secure wallet

[rinhunter]

Gox
Cryptsy..

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

I put my coins in local exchanger (bitcoin.co.id), I think this is an effective, I always exchange my bitcoin so I would feel easier if placed in the exchanger doesn't have to pay fee to send again.

[btvGainer]

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.

No online wallet is safe.It is a matter of time before they get hacked,crashed or disappear.Use online wallet only when you have small amount or if you have to send coins frequently.Storing coins for storage purpose in online wallet is a worst decision

[1Referee]

I am agree with you,better we never keep our coins on any exchange
and never keep our coins on third parties we will never know what their plan
so we have to keep it on private wallet and secure wallet

If you're trading, then you obviously need to have the coins in your exchange account, but as soon as you are done trading (have no open buy and sell orders anymore), then it's the best thing to withdraw all coins that you have. Better safe than sorry, right?

[diodio5]

for altcoins, maybe i keep on one exchange, and in other exchange i will keep it too, so if i want to make arbitrage, i can quickly sell it into another market exchange, and this is apply to with my btc.

I think not a problem if you keep a few altcoin only by the number or price is small. but if you have a lot or lots altcoin or bitcoin in a very large number, it is better to put it into the wallet it will be much more secure, saving in another exchange I think it does not help

[piloder]

Mostly i use paper wallets to store my bitcoin and rarely save more than 1 bitcoin in online wallets to be in secure side. And about exchanger i hardly left significant amount there as i like to do long term bitcoin holding rather than buying and selling bitcoin quickly for profit.

[abayan]

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.

No online wallet is safe.It is a matter of time before they get hacked,crashed or disappear.Use online wallet only when you have small amount or if you have to send coins frequently.Storing coins for storage purpose in online wallet is a worst decision

Agree! the risky part is when your online wallet will turn to scam they will down their website then take you money in their pocket! We dont know what is in their minds! So dont store your bitcoin in the long period of time.

[Mastsetad]

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.

That is really a foolish thing if really someone thinks that, being that much miser would probably cost you, for just paying 0.1% or something on withdraw fees you put all 100% of your money under risk? Is that wise at all?

It's an illogical way of thinking. I've bought $100 worth of Monero, but I couldn't buy it all at once so I had to buy 5 times to reach the sum. After 5 transactions, I have lost 1 Monero which means $10. This means I'm left with $90.. It's a misery but I still prefer losing $10 rather than risking $100.

Exactly, someone just for preventing himself for paying the withdraw fees should not risk all his capital, it is better to pay the small amount of fees then losing all the money you have on the exchange which is always possible these days when exchanges are not safe at all.

[BitcoinSupremo]

It's not wise to keep bitcoins in an exchange. I think low value altcoins it's ok, as even if something happen to the exchange you lose an irrelevant amount. People who want to do trading for sure can wait 1 hour if they see a window opportunity for the buying/selling . Price of bitcoin doesn't move that much within an hour , last 2 months was stable enough for all of us to not keep our coins in an exchange.

On a side note Monero has tripled in value and I didn't expect that at all. It's started to show some potential. I think I need to watch more this coin.

[coynedterm]

Gox
Cryptsy..

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

yes , right suggestion . because my one Bitcoiner friend who is  bulk trader told me he found that at a exchange his btc was disappear after many email and conversation they return btc in wallet . so we should put btc in limited amount only which is sufficient to make trade .

[bitbunnny]

We are all aware that it isn't safe to keep coins on exchangers. Except maybe very small amount. Exchangers are more often targeted by hackers but the risk could also be exchanger itself. Not all of them are fair and trustworthy so you can also become a victim of the fraud. Exchangers are not wallets.

[johnnyyash]

Never keep ANY coin on ANY exchange.

Fixed.

Please people, learn to put your coins in your own local wallets where you control the private keys, never have coins in exchanges. How many times this has to be said? I guess some people never learn.

you are right...this sound as a reminder!!!!!!!

[Noctis Connor]

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.

We all doubt if you don't have any doubt with the exchange wallet you are using then good job i keep my bitcoin into my bitcoin wallet because i don't want to lose big once the exchange website got hack i don't have any guaranteed that im going to bring it back.

[Golftech]

We are all aware that it isn't safe to keep coins on exchangers. Except maybe very small amount. Exchangers are more often targeted by hackers but the risk could also be exchanger itself. Not all of them are fair and trustworthy so you can also become a victim of the fraud. Exchangers are not wallets.

that's true and if letting them hold your coin especially big amount of coin you are just giving them advantage it is just like a bank
using their service will make you pay them for service fee and even its a big exchange they are still target of possible hack so
your money are always in danger from time to time.

[lanslans]

How about another exchanget like poloniex or bitrex? i think the both of them is the best and good then another exchanger.