NEver keep all your coins on an exchange

[xSkylarx]

This is the way to do it.  Put the coins you are trading in an exchange and withdraw those that are to be hold or kept for a long period of time.  This will at least lessen amount you will lose if suddenly the exchange decided to shutdown because of bankruptcy.  This happen to one of my friend.  He had learned his lesson the hard way.  He lost all his coins when cryptsy shutdown. because it is the only exchange he is comfortable in trading coins.

Yeah, also just put your bitcoin enough to buy some altcoins you want. Stake or store the coins on your wallet if you plan it for long term. No one can say if that exchange will shutdown today or tomorrow. So it's better to be safe than sorry.

[xSkylarx]

This is the way to do it.  Put the coins you are trading in an exchange and withdraw those that are to be hold or kept for a long period of time.  This will at least lessen amount you will lose if suddenly the exchange decided to shutdown because of bankruptcy.  This happen to one of my friend.  He had learned his lesson the hard way.  He lost all his coins when cryptsy shutdown. because it is the only exchange he is comfortable in trading coins.

Yeah, also just put your bitcoin enough to buy some altcoins you want. Stake or store the coins on your wallet if you plan it for long term. No one can say if that exchange will shutdown today or tomorrow. So it's better to be safe than sorry.

[arcanaaerobics]

This is the way to do it.  Put the coins you are trading in an exchange and withdraw those that are to be hold or kept for a long period of time.  This will at least lessen amount you will lose if suddenly the exchange decided to shutdown because of bankruptcy.  This happen to one of my friend.  He had learned his lesson the hard way.  He lost all his coins when cryptsy shutdown. because it is the only exchange he is comfortable in trading coins.

Yeah, also just put your bitcoin enough to buy some altcoins you want. Stake or store the coins on your wallet if you plan it for long term. No one can say if that exchange will shutdown today or tomorrow. So it's better to be safe than sorry.

If you are making some investment, you have to take risks, you can't to anything about it. For sure exchanges are a big risky.

The point here isn't using an exchange as a invesment but as a wallet.

[PremiumCodeX]

I have two things to add to this discussion. One of them is that online wallets also could take your BTC. At online wallets just like at exchanges, try to stick with the HQ ones. If you cannot know their developer team or get clear politics from them, you find a bad omen. Time is not always your reliable guard as some sites have been running scams for a long time and still getting new users. The other thing I want to add is the suggestion of doing proper security research if you want to use an offline wallet. I actually keep some exchanges more trusted than certain people's offline wallet.

[R3ffun]

Gox
Cryptsy..

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

yes thats right , Be careful Do not trust just one account exchange for all save your coin..

[muhcoins]

well, exchange or online wallet, if you cant have the privatekey it isnt trustable.
i'm a poloniex/xapo user but i always take the money out after using.

i'm not sure, but a few online wallets give you the privkey, blockchain.info is one example.

[Potato Chips]

Gox
Cryptsy..

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

Yes, We should spread awareness about this because the risk of keeping all your coins in an exchange sites is high. Why? Because exchange sites are a common target of hackers and even online wallets. OR sometimes exchange sites can ran away with your coins.

Our money is important that's why we should store it in a safe place. I suggest that you should store it in any wallet that has a private key, to make sure that it is yours alone.

I honestly don't recommend online wallets srsly

[severaldetails]

I think it is difficult for a real trader to remove the coins from the exchanges every time he goes offline.
For tradings you have to react quick sometimes or you miss the right time to buy/sell. That time can already be gone after a transaction to an exchange arrives.
Besides, your coins can even get hacked at the time you are online there.
So it's a tricky thing to keep coins safe when you are a trader.

[Shiroslullaby]

Yeah I still don't know what to do.
I feel uncomfortable having money on an exchange, even ones that I trust.
It's too annoying to manage ten different wallets for different coins,
(not to mention the coins that don't have functioning wallets or command line only wallets)

Maybe I will consolidate down to two or three coins so I can put them in offline storage and not have to worry about it.
Most of my buys are long-term investments anyways.

[BitHodler]

i'm not sure, but a few online wallets give you the privkey, blockchain.info is one example.

Every online wallet service should provide people with a private key where they can use it to import it into a client of their choice. I see this as a normal thing, and not as a great feature.

But even when you have the private key, then still you know that there is another entity also having access to your coins. Plus there is the fact that your coins are exposed to risks of hackers and stuff.

All with all, reason enough to not make use of any online wallet service. If you do it anyway, then only with tiny amounts, and that you know and understand what risks you are exposing yourself to.

[Victorycoin]

Looking down memory lane, one does not need any telling that exchanges should never be used as a bank, so there no point stacking your hard earned coins with them. For traders, what ought to be in your account is your trading capital, every other coin should be resting in other secured wallets. After my experience with Cryptsy, I these days only go to an exchange when there is an exchange to be made and then be gone.

[jak3]

its true that exchanges are not a safe place to keep your coins but what can you do if you need to wait for the coin's price to reach your desired position.insted of risking your coins you can try the voucher systems which nowdays avalible in most of the exchanges

[Rosberger]

No this would not be smart to do because its something that is pretty dangerous and if a exchange gets down or something, or they are turning in a ponzi's you will lose a lot of money!

[bitcoindusts]

Having coins in an exchange means there is a possibility that your coins will be gone.  There are history of exchanges being hacked and users coins are gone.  So I think it is better to withdraw the coins you are not using to your local wallet.  That way it is safe from being gone.

[Doamader]

All shoulr remember forever of bitfinex problem that made an huge damage into bitcoin, with that said we all know that just some exchanges does cares about the security of their costumers as well the funds, when this should be their main concern.

[error08]

Having coins in an exchange means there is a possibility that your coins will be gone.  There are history of exchanges being hacked and users coins are gone.  So I think it is better to withdraw the coins you are not using to your local wallet.  That way it is safe from being gone.

Never put it all in an exchange is the common rule of bitcoin user I thought.
Security issues will forever haunted on them, there is no such thing secure in online world.
I agree to keep majority of your coins in offline wallet if you want to savings it and partially in some wallet to avoid so much loss if you get hacked.

[TriggerX]

That's similar to the reason why you should never invest on one gambling website. If one of the websites turns out to be a scam or something goes awry, all of your Bitcoins will be gone. It's good to store Bitcoin on several wallets rather than on one website in general.

[madwica]

That's similar to the reason why you should never invest on one gambling website. If one of the websites turns out to be a scam or something goes awry, all of your Bitcoins will be gone. It's good to store Bitcoin on several wallets rather than on one website in general.

That is why much better to have multiple bitcoin wallets with multiple investment to lessen the risk of our money, and i agree that we do not need to focus on 1 website which will give you higher risk, and i do not like to invest in gambling because i know that is not profitable its just entertainment for rich people.

[Fredomago]

That's similar to the reason why you should never invest on one gambling website. If one of the websites turns out to be a scam or something goes awry, all of your Bitcoins will be gone. It's good to store Bitcoin on several wallets rather than on one website in general.

That is why much better to have multiple bitcoin wallets with multiple investment to lessen the risk of our money, and i agree that we do not need to focus on 1 website which will give you higher risk, and i do not like to invest in gambling because i know that is not profitable its just entertainment for rich people.

its really good practice to have atleast multiple wallet one for your gambling experience and the other would be for your trade, but you also have a desktop wallet to move everything after dealing with your gambling and trading its must be a practice to send any of your coin to your own storage to make it more safety.

[(altair)]

If you keep all your coins on an exchange like you treat it as a wallet that is wrong. Because keeping them there for a long time is dangerous because no one can say if tomorrow it will be gone or that site will run away. Just keep an amount of btc that you do in trading and the altcoin that you plan for long term you can also keep them in their own wallets.