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Author Topic: Is wallet from exchanger safe?  (Read 1494 times)
Cereberus
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October 23, 2016, 04:25:20 PM
 #21

Wallet from an exchange it is never safe. They are used for convenience purposes and if you do trading a lot there, however they are far from secure. I recommend you using a desktop or hardware wallet instead.

If you are an avid trader and cannot do without trading then use 2 wallets, 1 the one of the exchange where you trade and another desktop wallet like Electrum for example.

Once you finish your trading session withdraw your coins to the electrum wallet and keep only the amount for trading in the exchange. This can minimize your risks quite a lot.

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October 23, 2016, 05:50:45 PM
 #22

all wallet this big exchanger is safe
but this you high is frequent to transaction is very bad is use wallet exchanger
because every send your must coinfirmation, so this proces is long time
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October 24, 2016, 06:31:06 PM
 #23

I don't think you can consider any exchange to be completely safe. I have used coinbase, yobit, poloniex, and btc-e with no problem. But I used cryptsy and they stole my money. It's hard to know if they are trustworthy.
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October 24, 2016, 10:44:31 PM
 #24

I will not recommend exchange wallet for long term saving of your bitcoins but if you want to trade with them then you can keep your bitcoins in that wallets and when you feel that you have some extra bitcoins on that wallets then try to withdraw them to your desktop wallet.

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October 24, 2016, 10:49:09 PM
 #25

If you dont own the prived keys it is not yours. cant stated enough.

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October 25, 2016, 02:26:18 AM
 #26

Besides xapo, coinbase and blockchain, I also use wallet from exchanger like from yobit, poloniex and bittrex. Sometimes I can't online for longtime because my career is sailor.

Is exchanger wallets safe?
I only trust some exchange site's but most off all i only truely trust 1 bitcoin wallet website that based on my country and it is very safe to let your bitcoin to save there and hold not like other websites that if the website got hacked then they can't really back the funds but in my wallet there are policy that i think there going back your amount.

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October 26, 2016, 04:11:05 AM
 #27

I will not recommend exchange wallet for long term saving of your bitcoins but if you want to trade with them then you can keep your bitcoins in that wallets and when you feel that you have some extra bitcoins on that wallets then try to withdraw them to your desktop wallet.

With my experience I had been storing my bitcoins to my exchanger and I haven't any issues with them. And that is because I'm making them as my personal bank.

But still I know the risk that I can get when something happened that's why I am just trusting them that they will not collapsed.

It is just like store your bitcoins at your own risk with exchange sites.

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October 26, 2016, 05:35:50 AM
 #28

Besides xapo, coinbase and blockchain, I also use wallet from exchanger like from yobit, poloniex and bittrex. Sometimes I can't online for longtime because my career is sailor.

Is exchanger wallets safe?

people already explained to you about risks of using online web wallets as your storage especially in exchanges which can go down.

but from what i read, it seems like you are not using your bitcoins for long periods of time, in that case you should use a cold storage like paper wallet instead. you keep it in a safe place and only receive payments in.

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October 26, 2016, 09:53:18 AM
 #29

Never use any exchanger wallet to store your coins as anytime these sites can be hacked (as they are vulnerable to attacks) and you can lose all your coins. I wouldn't say that online wallets are safe but I prefer them compared to exchange website wallets due to any bad incidents in the past. I use unocoin but don't save my money there for more than a day.

Besides xapo, coinbase and blockchain, I also use wallet from exchanger like from yobit, poloniex and bittrex. Sometimes I can't online for longtime because my career is sailor.

Is exchanger wallets safe?

people already explained to you about risks of using online web wallets as your storage especially in exchanges which can go down.

but from what i read, it seems like you are not using your bitcoins for long periods of time, in that case you should use a cold storage like paper wallet instead. you keep it in a safe place and only receive payments in.

Paper wallets too cannot be secure as when people tend to forget their password and lose their private keys, they can lose those wallets too. Physical wallets can be the best option but only if you have a good amount of bitcoins to store.


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October 30, 2016, 05:46:26 PM
 #30

Besides xapo, coinbase and blockchain, I also use wallet from exchanger like from yobit, poloniex and bittrex. Sometimes I can't online for longtime because my career is sailor.

Is exchanger wallets safe?
I only trust some exchange site's but most off all i only truely trust 1 bitcoin wallet website that based on my country and it is very safe to let your bitcoin to save there and hold not like other websites that if the website got hacked then they can't really back the funds but in my wallet there are policy that i think there going back your amount.
Yes, you should just trust only few that have good reputation and high trust score like coinbase, blockchain and blockio and so on but any new or untrusted one shoud never be used for storing your bitcoin else you may loose over the night.
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October 30, 2016, 08:09:32 PM
 #31

Besides xapo, coinbase and blockchain, I also use wallet from exchanger like from yobit, poloniex and bittrex. Sometimes I can't online for longtime because my career is sailor.

Is exchanger wallets safe?
I only trust some exchange site's but most off all i only truely trust 1 bitcoin wallet website that based on my country and it is very safe to let your bitcoin to save there and hold not like other websites that if the website got hacked then they can't really back the funds but in my wallet there are policy that i think there going back your amount.
Yes, you should just trust only few that have good reputation and high trust score like coinbase, blockchain and blockio and so on but any new or untrusted one shoud never be used for storing your bitcoin else you may loose over the night.
But, I like to suggest here do not trust anyone. That is the reason we are having bitcoin. Trusting others for bitcoin storage, must be a breach of bitcoin's core concept of trustless system.
Having very low amount in exchange or in web wallet is always highly recommended. Standalone desktop wallets are best always.


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mrcash02
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October 31, 2016, 02:22:25 AM
 #32

Never use any exchanger wallet to store your coins as anytime these sites can be hacked (as they are vulnerable to attacks) and you can lose all your coins. I wouldn't say that online wallets are safe but I prefer them compared to exchange website wallets due to any bad incidents in the past. I use unocoin but don't save my money there for more than a day.

Besides xapo, coinbase and blockchain, I also use wallet from exchanger like from yobit, poloniex and bittrex. Sometimes I can't online for longtime because my career is sailor.

Is exchanger wallets safe?

people already explained to you about risks of using online web wallets as your storage especially in exchanges which can go down.

but from what i read, it seems like you are not using your bitcoins for long periods of time, in that case you should use a cold storage like paper wallet instead. you keep it in a safe place and only receive payments in.

Paper wallets too cannot be secure as when people tend to forget their password and lose their private keys, they can lose those wallets too. Physical wallets can be the best option but only if you have a good amount of bitcoins to store.

Would be nice to have a physical wallet, but I think it doesn't exist yet. It would be the safest method to store our BTCs. On virtual world there are threats everywhere and everytime, and I believe some people stay inhibited to use large amounts of BTCs because of it.

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October 31, 2016, 09:18:25 AM
 #33

i think wallet from exchanger is safe because i see in out there, many exchanger giving safer to their member, and only small exchanger will not doing this. and this is out from what happen with bitfinex which get hacked.

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October 31, 2016, 09:45:17 AM
 #34

I only use exchanger's wallet to store altcoins which i get from avatar campaigns,etc. I find it easier to use a wallet of new currency instead of installing the same on my pc. So far i have no problem with using yobit's wallet.
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November 01, 2016, 12:56:11 PM
 #35

Besides xapo, coinbase and blockchain, I also use wallet from exchanger like from yobit, poloniex and bittrex. Sometimes I can't online for longtime because my career is sailor.

Is exchanger wallets safe?
As  other  members said  here as  long  you  dont have access  on your  private keys  your  bitcoins  is   not really safe being  left behind on  exchange wallets because  the risk  of  lossing  it  is  there and you heard about  exchange  being hacked then  you cant  do  nothing  with  it  if it happens and   your  bitcoin is totally lost. Better to transfer  it into a hardware wallet   if you are   a sailor  because its somehow  safe  rather than  keeping it on exchange wallets.

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November 02, 2016, 03:14:44 AM
 #36

I only use exchanger's wallet to store altcoins which i get from avatar campaigns,etc. I find it easier to use a wallet of new currency instead of installing the same on my pc. So far i have no problem with using yobit's wallet.

Depending on how you are going to trust an exchangers security then just save there at your own risk. Because out of the bitfinex incident, for sure many are doubtful on this.

But with me, I am using and storing my bitcoins with a local exchanger, because offline wallets are much more risky for me.

Because here in my place a lot of robbers will put interest to the things that they just see new in their eyes, even my relatives.

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November 02, 2016, 05:39:15 AM
 #37

It might seem convenient to just keep your money on an exchange wallet but seriously there are a lot of exchanges that claim that they got hacked and actually plan to do a runner sometime.

Just hold your bitcoin in a private key that you control... It's not that difficult.



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mrcash02
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November 02, 2016, 11:45:57 PM
 #38

I only use exchanger's wallet to store altcoins which i get from avatar campaigns,etc. I find it easier to use a wallet of new currency instead of installing the same on my pc. So far i have no problem with using yobit's wallet.

Depending on how you are going to trust an exchangers security then just save there at your own risk. Because out of the bitfinex incident, for sure many are doubtful on this.

But with me, I am using and storing my bitcoins with a local exchanger, because offline wallets are much more risky for me.

Because here in my place a lot of robbers will put interest to the things that they just see new in their eyes, even my relatives.

Wow, even your relatives?

Many people don't trust the exchange wallets because in the past some of those exchanges closed or were hacked and traders, investors lost their money. The exchange owners aren't very very trusted and unexpected things happen. So better to don't risk our money on it using an exchange as wallet.

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November 02, 2016, 11:54:26 PM
 #39

I only use exchanger's wallet to store altcoins which i get from avatar campaigns,etc. I find it easier to use a wallet of new currency instead of installing the same on my pc. So far i have no problem with using yobit's wallet.

Depending on how you are going to trust an exchangers security then just save there at your own risk. Because out of the bitfinex incident, for sure many are doubtful on this.

But with me, I am using and storing my bitcoins with a local exchanger, because offline wallets are much more risky for me.

Because here in my place a lot of robbers will put interest to the things that they just see new in their eyes, even my relatives.

Wow, even your relatives?

Many people don't trust the exchange wallets because in the past some of those exchanges closed or were hacked and traders, investors lost their money. The exchange owners aren't very very trusted and unexpected things happen. So better to don't risk our money on it using an exchange as wallet.
There is other alternative if he is a sailor and he can bring even smart phone he can use electrum apps it is safe than online or exchange site.. just make sure that you are always backuping private keys and seeds for future purposes if you phone is gone you can be still install your wallet to other wallet to recover your bitcoins..

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November 03, 2016, 09:57:31 AM
 #40

I only use exchanger's wallet to store altcoins which i get from avatar campaigns,etc. I find it easier to use a wallet of new currency instead of installing the same on my pc. So far i have no problem with using yobit's wallet.

Depending on how you are going to trust an exchangers security then just save there at your own risk. Because out of the bitfinex incident, for sure many are doubtful on this.

But with me, I am using and storing my bitcoins with a local exchanger, because offline wallets are much more risky for me.

Because here in my place a lot of robbers will put interest to the things that they just see new in their eyes, even my relatives.

Wow, even your relatives?

Many people don't trust the exchange wallets because in the past some of those exchanges closed or were hacked and traders, investors lost their money. The exchange owners aren't very very trusted and unexpected things happen. So better to don't risk our money on it using an exchange as wallet.
There is other alternative if he is a sailor and he can bring even smart phone he can use electrum apps it is safe than online or exchange site.. just make sure that you are always backuping private keys and seeds for future purposes if you phone is gone you can be still install your wallet to other wallet to recover your bitcoins..

it all comes down to how you are going to use those coins.

for many users around here, their earnings will go to a wallet and stay there for a long time and acts as a long term investment for instance. in this case a paper wallet or a cold storage in general is the solution.

but many others want to use their earnings, for example they trade daily with that amount or some gamble with it and waste it. for these cases you should go for a more hands on wallet like a mobile wallet or at least a web wallet but never an exchange for keeping coins.

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