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Author Topic: NEver keep all your coins on an exchange  (Read 25711 times)
Yutikas_11920
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October 13, 2016, 01:17:48 PM
 #361

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.

Indeed it became one of the risks will we get in store all funds or a portion of our digital currencies in exhcange. Because the wallet is extremely prone to exchange is compromised and mostly because they know the gaps that we have
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October 13, 2016, 01:20:18 PM
 #362

How about another exchanget like poloniex or bitrex? i think the both of them is the best and good then another exchanger.
I suggest you to not keep all your coins on those exchanges even if they are reputable mate. I said that because of some reasons. One of the reasons why I said that is because even if they are trusted they can shutdown anytime they want and will leave you with lost coins. Another reason is because an exchange account can be hacked easily by hackers and because of it I advise you to keep your coins on your self controlled wallets if you are not gonna convert it.
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October 13, 2016, 01:33:50 PM
 #363

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.

for me, i am saving my coins in two market exchange, because its make me easier to make arbitrage while on arbitrage we need to take concern about time waiting for coins arrive into our wallet.

so, i think better to have at least two account for market exchange and we balance in that two market exchange.

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October 13, 2016, 01:43:55 PM
 #364

How about another exchanget like poloniex or bitrex? i think the both of them is the best and good then another exchanger.
I suggest you to not keep all your coins on those exchanges even if they are reputable mate. I said that because of some reasons. One of the reasons why I said that is because even if they are trusted they can shutdown anytime they want and will leave you with lost coins. Another reason is because an exchange account can be hacked easily by hackers and because of it I advise you to keep your coins on your self controlled wallets if you are not gonna convert it.

Keyword: Anytime.  Grin

That is a good suggestion mate. We should be doing this more. To save those who are making the wrong decisions in keeping too much bitcoin in those wallet exchanges. Please be careful

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October 15, 2016, 08:40:13 AM
 #365

Never keep ANY of your bitcoins in an exchange, You can make a new PC wallet in few seconds and it's as easy to use as any exchange wallet, You should just keep the BTC you are using to buy/sell crypto's with or the like, I don't know why people are still using BTC-E, Coinbase and Circle as actual wallets.
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October 22, 2016, 04:42:39 PM
 #366

Never keep ANY of your bitcoins in an exchange, You can make a new PC wallet in few seconds and it's as easy to use as any exchange wallet, You should just keep the BTC you are using to buy/sell crypto's with or the like, I don't know why people are still using BTC-E, Coinbase and Circle as actual wallets.

that is right. It is better to keep a very small amount of bitcoin in exchanges to do some quick trading.
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October 22, 2016, 04:47:02 PM
 #367

Never keep ANY of your bitcoins in an exchange, You can make a new PC wallet in few seconds and it's as easy to use as any exchange wallet, You should just keep the BTC you are using to buy/sell crypto's with or the like, I don't know why people are still using BTC-E, Coinbase and Circle as actual wallets.

that is right. It is better to keep a very small amount of bitcoin in exchanges to do some quick trading.

small amount means smaller size trade which also means smaller amount of profit.

that is why so many people are using these exchanges and they lose so much bitcoin each time they scam and run away.

There is a FOMO brewing...
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October 22, 2016, 04:55:41 PM
 #368

Never keep ANY of your bitcoins in an exchange, You can make a new PC wallet in few seconds and it's as easy to use as any exchange wallet, You should just keep the BTC you are using to buy/sell crypto's with or the like, I don't know why people are still using BTC-E, Coinbase and Circle as actual wallets.

that is right. It is better to keep a very small amount of bitcoin in exchanges to do some quick trading.

small amount means smaller size trade which also means smaller amount of profit.

that is why so many people are using these exchanges and they lose so much bitcoin each time they scam and run away.
For keeping I use small amount on exchanges and that amount is used only frequent trades as I do not put a large amount of bitcoins on urgent trade and when I decide to invest larger amount in trade then I do not full research about the coin in which I invest and that take a longer time to do all the research.
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October 22, 2016, 05:24:40 PM
 #369

Never keep ANY of your bitcoins in an exchange, You can make a new PC wallet in few seconds and it's as easy to use as any exchange wallet, You should just keep the BTC you are using to buy/sell crypto's with or the like, I don't know why people are still using BTC-E, Coinbase and Circle as actual wallets.
Actually for daily traders it is hard to keep on depositing and withdrawing daily for trading and this is also quite time consuming process so it may be late for trader to grab profit as market keep on moving quickly and there is always delay while getting confirmation when depositing to trading platform. However i agree that no one should consider trading platform as bitcoin wallets and better to use multiple exchanger if you have to hold bitcoin for trading.

 
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October 23, 2016, 04:00:22 AM
 #370

I don't trust neither a paper wallet... Imagine a exchange...
For me, the most secure way is spliting the bitcoins in various wallets, well, if you have a lot of bitcoins, of course...

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October 23, 2016, 01:38:21 PM
 #371

How about another exchanget like poloniex or bitrex? i think the both of them is the best and good then another exchanger.
I do not trust any exchanger, once you have a big amount of bitcoin, try as much as possible to transfer it to your private wallet because anything can happen at anytime and you will be hearing hackers did this and that which to me is just a conspiracy theory. Being cautious is always better as I always believe in preventing is better than curing / regretting.
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October 23, 2016, 01:46:31 PM
 #372

Yes i would rather say not keep even any substancial amount of coins in any of the exchanges.If you are not trading with them just withdraw then to the wallet and keep just a small amount and deposit again from the wallet there if needed because i things exchanges are not safe place now for keeping the coins there,we saw MTgox then bitfinex hacked so dont trust them now,
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October 23, 2016, 02:25:57 PM
 #373

Yes. I would always suggest to keep more wallets logged in your desktop. Never keep the btc in the exchange. When you require to exchange, do transfer from your wallet to the exchange wallet. 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.
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October 23, 2016, 03:58:43 PM
 #374

Regardless of all the tips that are shared about security and keeping coins safe, many still prefer to keep their coins on exchange.For sure this is the easiest and most simple way to keep coins,but we all see what's that way in terms of safety.One day you have coins, the other day someone hacked exchange and enjoy your money on a tropical island.

Of course that offline wallets are not 100% safe,but if user take all necessary steps to secure his funds, chance that you may lose coins is almost negligible.

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October 23, 2016, 04:46:40 PM
 #375

Regardless of all the tips that are shared about security and keeping coins safe, many still prefer to keep their coins on exchange.For sure this is the easiest and most simple way to keep coins,but we all see what's that way in terms of safety.One day you have coins, the other day someone hacked exchange and enjoy your money on a tropical island.

Of course that offline wallets are not 100% safe,but if user take all necessary steps to secure his funds, chance that you may lose coins is almost negligible.

Agreed. The only coins that should be left on the exchange are for the buy/sell orders. Otherwise, only deposit small  amounts of the coins that you want to do trasnactions with and never use exchange wallet as a storage.
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October 23, 2016, 05:14:26 PM
 #376

Regardless of all the tips that are shared about security and keeping coins safe, many still prefer to keep their coins on exchange.For sure this is the easiest and most simple way to keep coins,but we all see what's that way in terms of safety.One day you have coins, the other day someone hacked exchange and enjoy your money on a tropical island.

Of course that offline wallets are not 100% safe,but if user take all necessary steps to secure his funds, chance that you may lose coins is almost negligible.

nobody in his right mind would "prefer" to keep his coin (money) with a third party. only some newbies who are not aware of the dangers would prefer it.
any traders that want to have an open order don't "prefer it".

but sometimes you have to otherwise you either miss the chance to buy/sell because you withdraw everything!

to the moon with bitcoin...
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October 23, 2016, 05:50:41 PM
 #377

Keeping all your coins in an exchange is one of the most stupid things to do cause the risk of losing your stored coins there are high. The exchange sites are the usually targeted sites to hack plus even if the particular site has a good reputation there is no guarantee that they will not run off with your money.

The best thing to do is distribute your coins with different wallets  Wink

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October 23, 2016, 06:30:01 PM
 #378

Regardless of all the tips that are shared about security and keeping coins safe, many still prefer to keep their coins on exchange.For sure this is the easiest and most simple way to keep coins,but we all see what's that way in terms of safety.One day you have coins, the other day someone hacked exchange and enjoy your money on a tropical island.

Of course that offline wallets are not 100% safe,but if user take all necessary steps to secure his funds, chance that you may lose coins is almost negligible.

nobody in his right mind would "prefer" to keep his coin (money) with a third party. only some newbies who are not aware of the dangers would prefer it.
any traders that want to have an open order don't "prefer it".

but sometimes you have to otherwise you either miss the chance to buy/sell because you withdraw everything!

That is the risk traders have to take if you are trading on a daily basis. Aside from missing a buy or a sell, you are also incurring more fees on the process. You'll be the one to balance which will you take, more fees less risk, more missed trades or less fees, more risk, less missed trades.
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October 23, 2016, 06:44:56 PM
 #379

You can tell them all you want. Yell it out, shout it at them. They're still going to do it. Some people never learn.
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October 23, 2016, 06:50:30 PM
 #380

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.

There will always be new BC users who do not understand the nuances of safeguarding your BC. I have secure wallets with 2 FA, but I just got scammed by nitrogensports.eu.  Their admins have access to your wallet and mine just got emptied of 6 BC.  It was clearly an insider as my password is not shared across web sites and is super secure.  When you complain on their chat, they ban you.  The admins do not want anyone warned.
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