NEver keep all your coins on an exchange

[diodio5]

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

it would be better if you hold all of your money in your wallet when you're going to make an exchange you could send some of bitcoin on the exchange, the exchange is simply to avoid being a scam. but if you are a trader of course you have to be prepared bitcoin in the exchange balance

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[saiha]

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

Its quite confusing on how did your bitcoins becomes missing if you are just storing it onto your very own online wallet like blockchain.

Your bitcoins won't be missing unless you did some transactions or as you transact you are charged with some miners fee.

Because there is nothing will happen to your bitcoins if that is just sleeping into your wallet in an exchange site unless they were hacked.

[JasonXG]

I think never keep all your bitcoin anywhere not just an exchange. What of something happens ? Things always happen. Rather split your bitcoin across a few of your own wallets and a few investments. Keep minimum a mounts in exchanges.

Omw thing people forget is they look st their bitcoin balance but neglect to remember their altcoins have great value too so their altcoins sit in the exchange too and that is not good either.

[Xester]

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

Yes, i agree. Its better to be safe than sorry. Many exchanger site are not legit but not all. Do not keep your money on exchange and better to keep it in a vault or digital wallet. I also suggest to scattered your money on different wallet so that if one got hacked, you still have left on other wallet. Or better to withdraw your profit once a week so that you will not be afraid of losing it anymore.

[Jiyens3]

Gox
Cryptsy..

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

yes , don't save all coin in one place. will will be better if you save in local too

[requester]

Yes already I had learnt lesson from exchange site. Exchange site are always on their way to loot money especially those site which are less trusted and sometimes more truthful site also runs away with money. They don't have mercy.

[Mastsetad]

Yes already I had learnt lesson from exchange site. Exchange site are always on their way to loot money especially those site which are less trusted and sometimes more truthful site also runs away with money. They don't have mercy.

The exchange itself may don't run away with the bitcoins, but there are other people who are always looking for chances to attack those websites which has huge numbers of bitcoin and they are always trying for that, if any of them get success then all of the coins are gone, that is why keeping coins in a exchange is never recommended.

[MancyZz]

Gox
Cryptsy..

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

ya , i agree, i usually save my coin in local wallet i think this is more safe

[Doms]

Yes already I had learnt lesson from exchange site. Exchange site are always on their way to loot money especially those site which are less trusted and sometimes more truthful site also runs away with money. They don't have mercy.

Good thing my local exchange site haven't given me much of a headache. And to begin with, I don't really put a lot in my exchanger except for when I am ready to cash out already. I have seen too many cases of hacking to trust exchanges with too much money. Better to just scatter my bitcoins than risk losing everything.

[Shiroslullaby]

Always use 2FA if a site offers it.
And if a site does not give you the option, move your money to a different exchange.

Still, don't keep more on an exchange than you can afford to lose.
As Mtgox, Bitfinex and others have shown, its possible for hackers to get access and make off with coins if the security on a site is not tested and reviewed.

[Harlot]

Always use 2FA if a site offers it.
And if a site does not give you the option, move your money to a different exchange.

Still, don't keep more on an exchange than you can afford to lose.
As Mtgox, Bitfinex and others have shown, its possible for hackers to get access and make off with coins if the security on a site is not tested and reviewed.

For me even if it has 2FA it is more safe for an investor or trader to hold their available currency into a wallet. I know it would have more fees but is will be safer than actually having all your invested money into a site which is vulnerable to hackers. Also we must know that not all Exchange sites are safe so we really need to pick the best one, which we can trust our money in.

[Natalim]

Always use 2FA if a site offers it.
And if a site does not give you the option, move your money to a different exchange.

Still, don't keep more on an exchange than you can afford to lose.
As Mtgox, Bitfinex and others have shown, its possible for hackers to get access and make off with coins if the security on a site is not tested and reviewed.

For me even if it has 2FA it is more safe for an investor or trader to hold their available currency into a wallet. I know it would have more fees but is will be safer than actually having all your invested money into a site which is vulnerable to hackers. Also we must know that not all Exchange sites are safe so we really need to pick the best one, which we can trust our money in.

Being proactive would help us decide, we have to take a look on the risk of our investment. We can put our money in a certain exchange sites but make sure you will have to spread your money, don't rely on one exchange site only although they are very reputable as there is no permanent in this world, anything can happen and there comes the risk.

[fortunecrypto]

This is 100% true I have lost some of my coins on on exchange when they update and some of the coins have disappeared,even if it is a reputable exchange,you never know what's going to happen,either your wallet will get hack or the exchange will get hacked or run  away with every body's coin take the case of mt.gox

[doomistake]

I think it depends on the exchanger site. Because I'm always leaving my altcoins in c-cex but it never lost. It would be better if you will leave your bitcoins or altcoins in some legit exchangers like c-cex and yobit to be sure that your bitcoin or altcoin would never be lost or get stolen maybe.

[staff_1307]

Yes, this is a very sensible idea to avoid losing their Bitcoins of exchanges, they need to save to your local wallet.

[Astonuse]

I think it depends on the exchanger site. Because I'm always leaving my altcoins in c-cex but it never lost. It would be better if you will leave your bitcoins or altcoins in some legit exchangers like c-cex and yobit to be sure that your bitcoin or altcoin would never be lost or get stolen maybe.

Is c-cex or yobit more legit than poloniex?

[daringdiscovered]

I think it depends on the exchanger site. Because I'm always leaving my altcoins in c-cex but it never lost. It would be better if you will leave your bitcoins or altcoins in some legit exchangers like c-cex and yobit to be sure that your bitcoin or altcoin would never be lost or get stolen maybe.

How can you be so sure that c-cex and yobit are safe? Only the owner of that site can say till when will be they are safe and won't run away your money? Remember what happen to mt-gox and cryptsy,(please correct me if i'm wrong) they are reputable exchanges but their site went down and never return again with the bitcoin and altcoins of investors there.

[DanDan]

I think it depends on the exchanger site. Because I'm always leaving my altcoins in c-cex but it never lost. It would be better if you will leave your bitcoins or altcoins in some legit exchangers like c-cex and yobit to be sure that your bitcoin or altcoin would never be lost or get stolen maybe.

Is c-cex or yobit more legit than poloniex?

You have got to be joking right? Them two exchanges are scam exchanges and poloniex is the most trusted alt exchange.

[1Referee]

I think it depends on the exchanger site. Because I'm always leaving my altcoins in c-cex but it never lost. It would be better if you will leave your bitcoins or altcoins in some legit exchangers like c-cex and yobit to be sure that your bitcoin or altcoin would never be lost or get stolen maybe.

Is c-cex or yobit more legit than poloniex?

You have got to be joking right? Them two exchanges are scam exchanges and poloniex is the most trusted alt exchange.

I definitely agree that Poloniex is the most solid and respected altcoin exchange in the market, but that doesn't mean other exchanges are scams. Yobit has a horrible support service, which might even take much longer to reply or solve open tickets compared to other exchanges, but that doesn't make it a scam. I can't really comment on C-Cex as I simply don't have much information about this exchange, but from the looks, just as is the case with Yobit, there are a whole bunch of shit coins listed for the sole purpose of earning money. Every fake dev and its shill supporters are looking to buy themselves a position on various exchanges to dump their worthless coins on rookies.

[Xester]

Yes already I had learnt lesson from exchange site. Exchange site are always on their way to loot money especially those site which are less trusted and sometimes more truthful site also runs away with money. They don't have mercy.

That is why we must be choosy to the exchange sites that we are going to invest to. There are poor exchange sites and almost no user and only shitcoins are existing. We must choose exchanger that have already established its name on the market they are less likely to scam you. We must read reviews, trust ratings and the years of existence of an exchanger before placing your coins.