NEver keep all your coins on an exchange

[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.

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.

your opinion makes bitcoin sounds like really terrible
however with those 'hack accident' claim , more than enough for us to be more careful
online business alwaysbe like that , full of risk
that was a consequence but not worth it i guess if another exchange keep repeating the same 'hack accident'.

[Ziskinberg]

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.

your opinion makes bitcoin sounds like really terrible
however with those 'hack accident' claim , more than enough for us to be more careful
online business alwaysbe like that , full of risk
that was a consequence but not worth it i guess if another exchange keep repeating the same 'hack accident'.

Exchange sites are into business and no matter what the price of the coins listed they are continuously making profit as long as they are operating, reputation do matters to them therefore they strengthen their security but since it was an exchange sites the eyes of the hackers are focus on them especially if you belong to the bigger sites. Hence, it is advisable to spread you deposits.

[pooya87]

~
Exchange sites are into business and no matter what the price of the coins listed they are continuously making profit as long as they are operating, reputation do matters to them therefore they strengthen their security but since it was an exchange sites the eyes of the hackers are focus on them especially if you belong to the bigger sites. Hence, it is advisable to spread you deposits.

it is worth knowing that not all the "hacks" were real hacks but a scam by these exchanges to hide the fact that they stole money from their users.

yes they are making money continuously based on the fees they get but if they do a fake hack they can get 120K bitcoin in a blinking of an eye!

[jcojci]

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.

yes its true but for keep saving our coins, better to not keep all our coins in one exchange, the other suggestion is we use offline wallet and run it in our pc so there are small chance for being hacked by any one but its still not safe 100%, at least we can reduce the possibility for being hacked.

[Mydarksaviour]

yes, never keep your coins in an exchange. because anytime a site might get hacked. or maybe the owner might run and take all the funds. i strongly suggest too that you must only invest what you can afford to lose. never invest all of your money. you might lose it all.

regards.

[springgers]

yes, never keep your coins in an exchange. because anytime a site might get hacked. or maybe the owner might run and take all the funds. i strongly suggest too that you must only invest what you can afford to lose. never invest all of your money. you might lose it all.

regards.

You can invest all your money, just choose a lot of different investments and you will have less risks.

For example, if an exchange got hacked and you lose part or all your investment there, you will have others sources of earning that can cover that loss.

[sundowner]

Look at the lowest volume coins that still have dev's and buy them. If the dev is inactive then dont buy.

[madwica]

Correct much better to have more bitcoin exchage site than only one because if you put all your money in one investment it will includes higher risk because you do not have back up if something bad happen come to the exchange.

[susila_bai]

yes, never keep your coins in an exchange. because anytime a site might get hacked. or maybe the owner might run and take all the funds. i strongly suggest too that you must only invest what you can afford to lose. never invest all of your money. you might lose it all.

regards.

You can invest all your money, just choose a lot of different investments and you will have less risks.

For example, if an exchange got hacked and you lose part or all your investment there, you will have others sources of earning that can cover that loss.

What you said is always good as it is clear the what ever type or reputed exchange it may be when they get problem no one can help it, so when ever if you want to trade you can deposit and trade if not just withdraw and keep safely in your hardware wallet dont see that transaction charges are going but see the safety

[MissionPhailed]

I have to say I'm pretty reckless regarding that; still have all my crypto on an online exchange. OK, I'm talking about a small amount equal to around $250 and have already cashed out my initial stake. I'll probably get more strict in this matter once I approach $1000 or so worth in crypto. A friend of mine struggled to pull out several BTC from Cryptsy a while back; it appeared he aged several years in a timespan of a week ... ?

[rajasumi3]

I guess no matter how much u tell them not to keep ur coins .but some people will go on doing it again and again .i have even told my friend not to do this but he keeps on doing no matter ..some people just dont change .kudoos

[carlerha]

yes, never keep your coins in an exchange. because anytime a site might get hacked. or maybe the owner might run and take all the funds. i strongly suggest too that you must only invest what you can afford to lose. never invest all of your money. you might lose it all.

regards.

yes that is right we have a live example of bitfinex, when it hacked, it really effect the price of bitcoin too mush, but luckily bitcoin recover its position very soon, we should invest our money in such exchange that we can think are more reliable and trusted exchange.

[Sponsoredby15]

never keep ANY coins in an exchange. this is the true advice here.
after what happen lately with bitfinex I learned that lesson. nothing is secure as a wallet to store my coins at.

i will do the same i always withdrew my profit every time i earned from exchange website keeping them in exchange is too risky for me one thing is just like what happened on one exchange website that hacked recently. I learned from there security is just an illusion so better to withdraw than to keep.

[Mr.grin]

never keep ANY coins in an exchange. this is the true advice here.
after what happen lately with bitfinex I learned that lesson. nothing is secure as a wallet to store my coins at.

i will do the same i always withdrew my profit every time i earned from exchange website keeping them in exchange is too risky for me one thing is just like what happened on one exchange website that hacked recently. I learned from there security is just an illusion so better to withdraw than to keep.

Well, I think it is very difficult to find a safe place that is absolutely safe. even in blockchain else, my bitcoin remains missing, but I've paired the verification email, but I am still missing BTC. Well, so today I still put my money in a trading site, because I think it's better with 2FA system

[CyberKuro]

yes, never keep your coins in an exchange. because anytime a site might get hacked. or maybe the owner might run and take all the funds. i strongly suggest too that you must only invest what you can afford to lose. never invest all of your money. you might lose it all.

regards.

yes that is right we have a live example of bitfinex, when it hacked, it really effect the price of bitcoin too much, but luckily bitcoin recover its position very soon, we should invest our money in such exchange that we can think are more reliable and trusted exchange.

You can save your coins in exchanges but remember the chance of it get hacked, it will be better if you just divide them into some wallet too so you won't lose all of your savings.
Whatever you put that could reach by online network are vulnerable to hack, I recommend to use offline/cold wallet to saving your bitcoin, it would be safer but take care and don't lose it.

[croutonhexagon]

I had learnt a bad lesson from trading and exchange sites. I had thought that they were legit but they ran away like cloud mining sites with no mercy. I am very much depressed because $100 matters alot for me which is equivalent to my heart and i cant afford to gather that much amount of money again.

[canah17]

Gox
Cryptsy..

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

Wow! really? how? did you got scammed on that bitfinex? how can it be true thought that web site has the proper validation and you can report that but i want to ask you a question what if that bitfinix will disappear them what happened to your bitcoins? and how will you gain it back from the website? i really want to know because if that happens to me i will know what to do but still its very hard to take that bitcoin you have been earning you might end up poor for all i can say but still its not easy to find the bitcoin i really want to know how you can take them back if bitcoin in that wallet will be gone or disappear for good and i how will i manage to get my bitcoin in that wallet? teach me how please

[Bitcoinsummoner]

Gox
Cryptsy..

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

Wow! really? how? did you got scammed on that bitfinex? how can it be true thought that web site has the proper validation and you can report that but i want to ask you a question what if that bitfinix will disappear them what happened to your bitcoins? and how will you gain it back from the website? i really want to know because if that happens to me i will know what to do but still its very hard to take that bitcoin you have been earning you might end up poor for all i can say but still its not easy to find the bitcoin i really want to know how you can take them back if bitcoin in that wallet will be gone or disappear for good and i how will i manage to get my bitcoin in that wallet? teach me how please

Maybe he is talking about some of loses or half are give back to owners who are affected when bitfinex was hack..
If you don't remember that someone are telling that staff of bitfinex say that they will give a token for those who are affected..
So if you are invested before there and you are the affected one i think you did not receive your own token.. but i do not know if who receive token got their what they want to get..

[choppork]

I had learnt a bad lesson from trading and exchange sites. I had thought that they were legit but they ran away like cloud mining sites with no mercy. I am very much depressed because $100 matters alot for me which is equivalent to my heart and i cant afford to gather that much amount of money again.

I guess you were unlucky. Whenever a website runs away, they say that they got hacked. You'd be the judge if you're going to believe that or not. These days you don't know the intention of a website. They might be giving you a good service right now but exchange sites and trading sites is the number one target of hackers because they hold a lot of coins. Just deposit your money in an exchange site if you're going to use their service. Otherwise, just keep your coins in your wallet.

[Omegasun]

I had learnt a bad lesson from trading and exchange sites. I had thought that they were legit but they ran away like cloud mining sites with no mercy. I am very much depressed because $100 matters alot for me which is equivalent to my heart and i cant afford to gather that much amount of money again.

I guess you were unlucky. Whenever a website runs away, they say that they got hacked. You'd be the judge if you're going to believe that or not. These days you don't know the intention of a website. They might be giving you a good service right now but exchange sites and trading sites is the number one target of hackers because they hold a lot of coins. Just deposit your money in an exchange site if you're going to use their service. Otherwise, just keep your coins in your wallet.

Your advice is good for user that want only to convert their money to other currencies.but it not applicable for the trader. They need to store they btc on exchange site so that they can buy/sell their coins on the price that they want. The transaction is also a factor to be considered so that you can avoid multiple extra charges