NEver keep all your coins on an exchange

[MONKEYJUNK]

Gox
Cryptsy..

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

I wonder why people choose to save their coins on an exchange they can't control and they don't have the private keys instead of their own wallet they can control and they have the private keys.

before I read this thread, I have been always saving my coins on my own wallet, and it's safe. unlike exchange, I've heard an exchange was hacked. so dangerous.

Sure some exchanges arent safe for use, you should know which you must trust. People does invest into exchanges because them are the easy way to make more bitcoins taking a risk, trading does mooves a lot of bitcoins daily.

If your money isn't on your hands, so it's unsafe! That's the truth... Don't matter if an exchange(or web wallet) was safe for years and years, someday a guy can found a way to hack or well, some inside job. Trust none.

[mrcash02]

Gox
Cryptsy..

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

I wonder why people choose to save their coins on an exchange they can't control and they don't have the private keys instead of their own wallet they can control and they have the private keys.

before I read this thread, I have been always saving my coins on my own wallet, and it's safe. unlike exchange, I've heard an exchange was hacked. so dangerous.

Sure some exchanges arent safe for use, you should know which you must trust. People does invest into exchanges because them are the easy way to make more bitcoins taking a risk, trading does mooves a lot of bitcoins daily.

If your money isn't on your hands, so it's unsafe! That's the truth... Don't matter if an exchange(or web wallet) was safe for years and years, someday a guy can found a way to hack or well, some inside job. Trust none.

So, the Bitcoins are never safe, because they are always far from our hands. Doesn't matter if they are stored on an Exchange, Online Wallet, Desktop Wallet... We are always in risk to be hacked or any other issue that can happen with our computer, laptop, cell-phone.

As was said on another thread, I think would be nice to have a Physical wallet, so we can have the BTCs on our hands without fear to lose it on virtual world.

[20kevin20]

Keeping your money in an exchange is like doing the same thing in real life or leaving your wallet in a supermarket for some time. It's risky and even though there are lots of cameras and security stuff, it can happen anytime.

[MTBTT]

The story with Bitfinex teached all of us to not keep money on one place. I think it is not safe to hold bitcoins in an exchanger generally. They have low security protection so if you are holding your coins on some exchanger site you already mase say goodbye to it. You never know in wich moment of time it going to be hacked.

yeah it proves that there are no third party sites that could be said to be truly secure, I think all sites have the possibility to exchange scam, so it would be better if you keep cautious dude

[calkob]

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.

Well i wouldnt say have no coins, if your a trader you need to be able to react to changing price, i would say never have more than you are comfortable losing if it all goes wrong.   

[madwica]

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.

Well i wouldnt say have no coins, if your a trader you need to be able to react to changing price, i would say never have more than you are comfortable losing if it all goes wrong.   

Correct we need to put money in an exchange that we afford to lose and to have multiple investment will lessen the risk and never put all your money in one exchange because the risk was 100%.

[Juggy777]

This is a really nice thread. The recent activity that has happened people really need to realise before its to late.

[Aamir1]

Keeping your money in an exchange is like doing the same thing in real life or leaving your wallet in a supermarket for some time. It's risky and even though there are lots of cameras and security stuff, it can happen anytime.

Exactly, though there are people around or security is tight but still your wallet will get stolen if its kept somewhere like that, and keeping your bitcoins in a exchange is like that, when you are away from the exchange, you have no access to them at all and during that time anything can happen, so it is better to keep them in a secure wallet.

[abel1337]

This is right , Dont keep all of your coins on one exchange , Their are a change that a exchange can be hacked and stole all of your coins.
Better to store small amount of bitcoin on one exchange site.
This is a good information for newbies that is starting on bitcoin trading

[bithasher]

I was used to let some money at few exchanges by using their wallets as online wallets for long time. I still had large amount in my own possession having them locked into my desktop wallet. These recent events put me to transfer everything what I was letting on exchanges to wallet. I don't compromise over safety anymore as no one can care of my money better than me.

[memii]

Don't be lazy if you are not trader but are investor then better don't let unused funds on exchanges. That was off course big shock seeing of Bitcfinex hacking for everyone. I was not using that exchange but in past have lost some on other exchange. I already am not letting funds there. I deposit whenever I have to buy some alternative coin and then withdraw them as well.

[TastyChillySauce00]

Keeping your money in an exchange is like doing the same thing in real life or leaving your wallet in a supermarket for some time. It's risky and even though there are lots of cameras and security stuff, it can happen anytime.

definitely different while if you are saving up your bitcoin on popular site like poloniex (even though they still have a chance to turn out scamming people but they seemed will not) and if their office were registed officially and under government rules,they will having a small chance to scam you

[delliaerd]

No i don't have any coin on bitfinex but i have some coin in other exchanger site. If i didn't wrong to remember i have some coin in poloniex, may be it is not too good. But if i wait for price of the coin increase.
If i sell at this time, i will not get a profit from my coin. Even though i should wait for long time enough it is not a problem.

[hua_hui]

I was used to let some money at few exchanges by using their wallets as online wallets for long time. I still had large amount in my own possession having them locked into my desktop wallet. These recent events put me to transfer everything what I was letting on exchanges to wallet. I don't compromise over safety anymore as no one can care of my money better than me.

There is many stories out that and it is just that many people choose not to listen to these stories. I have experienced a few of these and it is really a very painful experience so now i keep all my btc in my wallet.

I lose half of my btc when mtgox got hacked. I lose all my dogecoin when crypsty got hacked. And there is one other site that i lose 2/3 of my btc too.

[BitcoinHodler]

I was used to let some money at few exchanges by using their wallets as online wallets for long time. I still had large amount in my own possession having them locked into my desktop wallet. These recent events put me to transfer everything what I was letting on exchanges to wallet. I don't compromise over safety anymore as no one can care of my money better than me.

There is many stories out that and it is just that many people choose not to listen to these stories. I have experienced a few of these and it is really a very painful experience so now i keep all my btc in my wallet.

I lose half of my btc when mtgox got hacked. I lose all my dogecoin when crypsty got hacked. And there is one other site that i lose 2/3 of my btc too.

then how are you trading now?!!

the thing that people usually forget about exchanges and keeping money there is that you sometimes have to. and we never know when they are going to get hacked.

this is the risk that any trader has to take if they want to make any trade at all. for example you sometimes want to open a position and wait for it to be filled and we all know that this never happens right away so you have to leave money there and in an open order.

[traderethereum]

The story with Bitfinex teached all of us to not keep money on one place. I think it is not safe to hold bitcoins in an exchanger generally. They have low security protection so if you are holding your coins on some exchanger site you already mase say goodbye to it. You never know in wich moment of time it going to be hacked.

better to use cold storage or personal wallet in android or pc or laptop to hold bitcoin or spread your bitcoins in many exchanger so if one of exchanger gets hacked, your other bitcoin is not get hacked too and you can still use your bitcoin to continue to trading. but this mean its not safe forever, and we still manage our bitcoin to the safe place.

[Boss CJ]

It is fine taking risk, but not all should keep in an exchange. Yes, I agree with others that it has low security for now, maybe, you have just to take it easy and study well the things you are in to.

[sambaevida]

I can't believe how many people are still making this kinda mistake!

[clickerz]

Correct we need to put money in an exchange that we afford to lose and to have multiple investment will lessen the risk and never put all your money in one exchange because the risk was 100%.

In any exchanges, there are always risk involved and no one is spared. But of course we have to put some of our bitcoins to exchanges in order to trade. Though not all, but as what you have said,bitcoins that you can afford to lose and I agree with it. Trading like other exchanges is like gambling, some times to win/gain and other losses.

[Leonard2016]

I can't believe how many people are still making this kinda mistake!

they are all fooled by the empty promises that these exchange service make. they all say we are super uber duper safe and we are doing all the security things to make our service the safest in the world and they add an image of a safe so people beleive it is safe