NEver keep all your coins on an exchange

[Capradina]

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.

Yeah, all of this is very true. Because exchange is not a long-term wallet, wallet basically exchange used to move funds in order to get a profit or used to play. So if we keep most of the coin in the exchange then it is possible your account we will be hit by hack or taken over by those who want to get the benefits without capital (Free). better keep a coin in exchange the maximum is 3 days or after the benefit and after that in moving to personal in the wallet

[1714663328]

1714663328

[royalfestus]

I do not trust any of these f#$% exchanges at the moment. You go there and dump a lot of coins to trade and then you trust them to keep it safe. Most of them are not even audited and the people working there have no background security checks been done to see if they had a criminal record.

We are no talking about banks and high security financial institutions here, in many cases these are just young startups with 10 or 20 people working in a few small offices. ^hmmmm^

You talk Like you know so much about them, Funny. State some for the benefit of others. I also get worried to put money in the wrong hands but my kind of person still believe in trading and exchange. However, is there a procedure or institute to accredit any exchange. And if accredited how do u get to know?

[outatime1]

If you use an exchange, only put in it what you want to use for trading. Don't store any coins on an exchange. I made that mistake with cryptsy.

[altcoinnxt]

From the btc be stolen of bitfinex , it should be a lesson for the most, in the past mr gox has scammed a lot users here, soo we do learn with mistakes and no one should let all the coins at one exchange, doing that is taking a huge risk to loose those.

[Oilacris]

If you use an exchange, only put in it what you want to use for trading. Don't store any coins on an exchange. I made that mistake with cryptsy.

Most of  us here   do learn  already   on past   circumstances  that  happen  in the past  on which  big  exchanges have  been  hacked and   lost all  money  . Most users  there  realized  that  we should  not  really  store all of  our  bitcoins  on exchangers wallet  because  the risk  of  lossing  it  is always there. Making  mistake  once should   not be  followed   by another.

[olubams]

I never expect anyone to even keep all your resources in a particular source even in real world not to talk of exchange sites which is even more prone to attacks in the crypto-world and because you're responsible for your loss when this happen more reason why one should not even think of putting all his funds in an exchange site. Its even safer to keep in wallets than exchange sites. History should not be forgotten so soon..

[stomachgrowls]

I never expect anyone to even keep all your resources in a particular source even in real world not to talk of exchange sites which is even more prone to attacks in the crypto-world and because you're responsible for your loss when this happen more reason why one should not even think of putting all his funds in an exchange site. Its even safer to keep in wallets than exchange sites. History should not be forgotten so soon..

I really dont  understand  why some people would really keep their  bitcoins on  an  exchange wallet  , infact we already faced  previous  problems on exchange  hacks  and  people  should really be aware  on those  situations that  might  possibly happen again  on these days. No one  knows, Better to store  up  on a pc wallet or  hardware wallets especially to those who  hold   bulks of bitcoin.

[millgates]

Gox
Cryptsy..

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

Yeah I am agree, exchange site is different with wallet. An exchange site can bankrupt, then if it happend we will lost our money. Thats my oppinion.

[Skarner21]

I never expect anyone to even keep all your resources in a particular source even in real world not to talk of exchange sites which is even more prone to attacks in the crypto-world and because you're responsible for your loss when this happen more reason why one should not even think of putting all his funds in an exchange site. Its even safer to keep in wallets than exchange sites. History should not be forgotten so soon..

I really dont  understand  why some people would really keep their  bitcoins on  an  exchange wallet  , infact we already faced  previous  problems on exchange  hacks  and  people  should really be aware  on those  situations that  might  possibly happen again  on these days. No one  knows, Better to store  up  on a pc wallet or  hardware wallets especially to those who  hold   bulks of bitcoin.

i think the reason why they are keeping it in exchange site they don't want to be late to buy some trends altcoin or bitcoin.. that you are just keeping your bitcoin for trading in your wallet that it takes too long process before you bitcoin to be arrive in your trading site.. for those hourly trader or minute trader they need to stay their funds into exchange site for fast buy and sell purposes.. but if you are long term holders you should use many different exchangers so that you can be get same goal or result if you stay in one exchange the risk is less because we know those mt gox and cryptsy plus bitfinex was crash or hack few months ago.. so if you spread it can help you to save some of your investment..

[richardsNY]

From the btc be stolen of bitfinex , it should be a lesson for the most, in the past mr gox has scammed a lot users here, soo we do learn with mistakes and no one should let all the coins at one exchange, doing that is taking a huge risk to loose those.

There are certain aspects as to why people will never learn from past happenings. First aspect is that they constantly focus on the security of the exchange itself, which of course is also very important, but they don't focus on the operators of the exchange in question to be the thief here. If the security looks all right for people, then they put their full trust in that exchange. Another aspect is that people are too lazy to constantly cash out and deposit coins. They want to sell or buy at the time some action in the market appears. That's only possible if their coins are constantly stored there.

[rizkyhiw]

I never expect anyone to even keep all your resources in a particular source even in real world not to talk of exchange sites which is even more prone to attacks in the crypto-world and because you're responsible for your loss when this happen more reason why one should not even think of putting all his funds in an exchange site. Its even safer to keep in wallets than exchange sites. History should not be forgotten so soon..

I really dont  understand  why some people would really keep their  bitcoins on  an  exchange wallet  , infact we already faced  previous  problems on exchange  hacks  and  people  should really be aware  on those  situations that  might  possibly happen again  on these days. No one  knows, Better to store  up  on a pc wallet or  hardware wallets especially to those who  hold   bulks of bitcoin.

sometimes you feel too lazy to wait the confirmation between your wallet and exchange
so you just keep it to trade it later without anticipate the worst scheme
like what happened to mt gox , cryptsy and recently bitfinex
i don't know if all of them really hacked or just want to cover up their bad evil plan.

[prabowo96]

I never expect anyone to even keep all your resources in a particular source even in real world not to talk of exchange sites which is even more prone to attacks in the crypto-world and because you're responsible for your loss when this happen more reason why one should not even think of putting all his funds in an exchange site. Its even safer to keep in wallets than exchange sites. History should not be forgotten so soon..

I really dont  understand  why some people would really keep their  bitcoins on  an  exchange wallet  , infact we already faced  previous  problems on exchange  hacks  and  people  should really be aware  on those  situations that  might  possibly happen again  on these days. No one  knows, Better to store  up  on a pc wallet or  hardware wallets especially to those who  hold   bulks of bitcoin.

sometimes you feel too lazy to wait the confirmation between your wallet and exchange
so you just keep it to trade it later without anticipate the worst scheme
like what happened to mt gox , cryptsy and recently bitfinex
i don't know if all of them really hacked or just want to cover up their bad evil plan.

Truth is that we will never know what happened to some exchanges, if it was an inside job or a real hack anyway the difference between banks and exchanges are one: banks charge a tax every month and don't will charge you if they got robbed and exchanges don't charge this however they will put a knife on your chest when they got hacked.
That's 2 way to the same end.

[hawkins]

Gox
Cryptsy..

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

Yeah I am agree, exchange site is different with wallet. An exchange site can bankrupt, then if it happend we will lost our money. Thats my oppinion.

Well, so many things happen in a few years. Well, until now I also save beberpaa bitcoin me in an exchanger, because I feel that the exchanger is a safe place. however, exchanger a target for hackers to take bitcoin world that existed at the site.

[Victorycoin]

This technology is still evolving, so we can expect lots of dust in the air from time to time. To that effect, our best bet would be to take precautionary posture at all times and this is not just about exchanges only, but the virtually every company we have to send our coins to. As a matter of fact, there seems to be more scammers lurking in the cryptocurrency world than does that of fiat.

[diodio5]

If you use an exchange, only put in it what you want to use for trading. Don't store any coins on an exchange. I made that mistake with cryptsy.

yeah agree with you you must know the destination site of exchange is to trade, so use the exchange to trade not to keep or save all of your bitcoin dude,
if you want to store in exchange, keep bitcoin according to the amount that would be you traded

[Hellacopter]

I think that's true, we have to store our bitcoin in the safest wallet and the online and exchanger wallets aren't really secured enough , so it's surely better to dont keep all our coins on this exchanges

[Meycell]

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.

yes i agree , i think local wallet safer ..

[MancyZz]

Gox
Cryptsy..

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

i think don't save all your money to bitfinex.. save half in local wallet will safer

[altcoinnxt]

I agree with you.one better never keep his coins on any exchange and never keep his coins on third parties.
 because you will never know what their plan
so one shoud keep his coins on private wallet and secure wallet

[Doamader]

If the wallets providers does wanna or had some big plans to take control over their costumers balances they would had done those already, they charge fees from their services, and with that they able to keep their company alive. But we do saw what may happen if we do relax and trust too much into some exchange.