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Author Topic: Is wallet from exchanger safe?  (Read 1495 times)
jossiel
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November 03, 2016, 10:22:04 AM
 #41

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.

I know that some incident of claiming to be that they were hacked but in reality they just run away with their customers bitcoin.

So we can't remove the way of thinking that our bitcoins with the exchanger are a bit unsafe but still they are helpful to all of us.

Maybe just choose some reputable wallet provider like blockchain.



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November 03, 2016, 01:11:06 PM
 #42

They are the same, but you shouldn't trust any of them, even if we agree that big sites like poloniex or coinbase are honest and their owners don't intend to run away with the funds the danger of getting hacked is always there.
Any hard/paper/desktop wallet is safer than them,all you need to do is to follow some basic rules and keep your private keys well hidden.
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November 03, 2016, 01:37:42 PM
 #43

They are the same, but you shouldn't trust any of them, even if we agree that big sites like poloniex or coinbase are honest and their owners don't intent to run away with the funds the danger of gettimg hacked is always there.
Any hard/paper/desktop wallet is safer than them,all you need to do is to follow some basic rules and keep your private keys well hidden.

You are forgetting to mention blockchain, this is what the bitcoin technology depending to with the so called blockchain technology.

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.

Yes that's true, because I have tested them for so many times that I am able to leave my physical wallet to our table, not knowing that it is just my bait.

After a couple of minutes, my physical wallet gone when some of my relatives came into our house and asking us if we have food.

So after giving them food, they took my wallet also.

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November 03, 2016, 06:28:20 PM
 #44

the danger of getting hacked is always there.
This must be the biggest problem with all online providers. We need to have the practice of withdrawing from time to time all unused funds from any online wallet/exchange. We must keep our ball within our court else regretting will be inevitable. People are preferring to use bitcoin in the way of how Paypal is doing, but not secure and will fade away the real purpose of adopting bitcoins.

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rancidgash
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November 03, 2016, 06:33:10 PM
 #45

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?

To be honest, there is no online wallet that is 100% safe. Coinbase, Xapo or blockchain always can be hacked.. sorry, but this is the true.. Every few month we can hear about that next exchange was hacked. Actually, there is not many exchanges that haven't been hacked yet..

So the only safe place for you coins is your cold wallet!

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November 03, 2016, 09:15:01 PM
 #46

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?

To be honest, there is no online wallet that is 100% safe. Coinbase, Xapo or blockchain always can be hacked.. sorry, but this is the true.. Every few month we can hear about that next exchange was hacked. Actually, there is not many exchanges that haven't been hacked yet..

So the only safe place for you coins is your cold wallet!

Any kind of wallet has some risk, if it's on virtual world it's under risk... Doesn't matter if it's stored online, on desktop, etc...

The best way to have full safe would be have physical wallet in own our hands.

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November 03, 2016, 09:57:01 PM
 #47

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?

To be honest, there is no online wallet that is 100% safe. Coinbase, Xapo or blockchain always can be hacked.. sorry, but this is the true.. Every few month we can hear about that next exchange was hacked. Actually, there is not many exchanges that haven't been hacked yet..

So the only safe place for you coins is your cold wallet!

Any kind of wallet has some risk, if it's on virtual world it's under risk... Doesn't matter if it's stored online, on desktop, etc...

The best way to have full safe would be have physical wallet in own our hands.
But you can loose physical wallet or someone can steal it like phobe from pocket. None of the wallets can guarantee 100% safety.

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November 03, 2016, 10:01:35 PM
 #48

It is not really save so it is better for you to bettter save your money into real bitcoin wallet instead of putting money in exhcange wallet.
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November 04, 2016, 12:01:30 AM
 #49

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?

To be honest, there is no online wallet that is 100% safe. Coinbase, Xapo or blockchain always can be hacked.. sorry, but this is the true.. Every few month we can hear about that next exchange was hacked. Actually, there is not many exchanges that haven't been hacked yet..

So the only safe place for you coins is your cold wallet!

Any kind of wallet has some risk, if it's on virtual world it's under risk... Doesn't matter if it's stored online, on desktop, etc...

The best way to have full safe would be have physical wallet in own our hands.
But you can loose physical wallet or someone can steal it like phobe from pocket. None of the wallets can guarantee 100% safety.

But physical wallet safety would depend only of me. On virtual world there are many things and persons involved (hackers, computer durability, scammers...)

I can let it quietly on my drawer, on a safe box without worries. But I agree with you, none of the storage methods are 100% safe. Physical wallet can be 99%.  Smiley

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November 04, 2016, 11:13:01 AM
 #50


I know that some incident of claiming to be that they were hacked but in reality they just run away with their customers bitcoin.

So we can't remove the way of thinking that our bitcoins with the exchanger are a bit unsafe but still they are helpful to all of us.

Maybe just choose some reputable wallet provider like blockchain.


It does not look like Bitfinex ran away with people's money, they are in the middle of an FBI lawsuit now.

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November 09, 2016, 01:48:10 AM
 #51

The big problems from wallet developer is secure. I think too many hacker will find the weakness of secure system from wallet developer. For best save our bitcoin I never recommended to use online wallet or exchanger wallet. Save your bitcoin in the best wallet and this is offline wallet. Use online wallet or exchanger wallet for only transactions regulary.
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November 09, 2016, 03:23:23 AM
 #52

The big problems from wallet developer is secure. I think too many hacker will find the weakness of secure system from wallet developer. For best save our bitcoin I never recommended to use online wallet or exchanger wallet. Save your bitcoin in the best wallet and this is offline wallet. Use online wallet or exchanger wallet for only transactions regulary.
that's the safer way to assure your self that your btc is completely secure just let your transaction be done everytime you made the trade or if you need to exchange your btc to your local money same thing with me regarding to exchange wallet any moment hackers can get into it and our btc will be robbed.

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November 09, 2016, 04:16:15 AM
 #53

The big problems from wallet developer is secure. I think too many hacker will find the weakness of secure system from wallet developer. For best save our bitcoin I never recommended to use online wallet or exchanger wallet. Save your bitcoin in the best wallet and this is offline wallet. Use online wallet or exchanger wallet for only transactions regulary.
that's the safer way to assure your self that your btc is completely secure just let your transaction be done everytime you made the trade or if you need to exchange your btc to your local money same thing with me regarding to exchange wallet any moment hackers can get into it and our btc will be robbed.
For me and other users, bitcoin is primary asset after legal money that issued from government central bank. The best to make bitcoin safe is give the full protect from hacker. The best recommendations for storing bitcoin is save to offline wallet. If you always use online wallet, we must activate 2FA.
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November 10, 2016, 01:38:09 AM
 #54

Its not super safe and because of that you should also not store a large amount on it due to the fact its risky, you cannot even trust the exchange website these days so I think that is already saying enough.
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November 10, 2016, 11:23:55 AM
 #55

Its not super safe and because of that you should also not store a large amount on it due to the fact its risky, you cannot even trust the exchange website these days so I think that is already saying enough.
Yes, exchanger wallets is unsafe for save our bitcoin for long time. The best way for save our bitcoin is save in more than 2 wallets, we can use offline, online and android wallets. Use exchanger wallet for trading only and never save for long time.
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November 11, 2016, 09:14:09 AM
 #56

If  you are sailor and  dont have  too much time to go  online then  its  better to  store  up your  bitcoin  on  a hardware wallet and  bring  it  wherever you are   rather than  putting  and  leaving  it  on an  exchange wallet because  the  risk of  lossing  it  is  still there. As we all know  that exchanges  could  possibly be hacked   without  our  awareness which our bitcoins  is at risk for sure.

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November 12, 2016, 07:06:43 AM
 #57

If  you are sailor and  dont have  too much time to go  online then  its  better to  store  up your  bitcoin  on  a hardware wallet and  bring  it  wherever you are   rather than  putting  and  leaving  it  on an  exchange wallet because  the  risk of  lossing  it  is  still there. As we all know  that exchanges  could  possibly be hacked   without  our  awareness which our bitcoins  is at risk for sure.

This  would be the  best  advice for me   because if you don't have enough  time to  watch  on your  bitcoin  on  an exchange wallet  then  your  suggestion  would be the best   on storing  it  on a hardware wallet  because you can  keep  it on a safe   place and no one can steal it from  you as long   you have  the  your hardware wallet and  its keys  its  much safer.



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November 20, 2016, 03:16:54 PM
 #58

Wondering what is the point of using some shady wallet while you have blockchain.info?
Yes everything has its pros and cons, but they are not likely to steal your btc or be ghosted one day.

And there are only few trustworthy exchanges out there.
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November 22, 2016, 02:47:18 AM
 #59

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?
No the exchange is not safe to keep your coin. like other online wallet there is a chance that it will close and being hacked if it happens it will be big lost on your side. Remember what happen to bitfinex.

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rancidgash
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November 23, 2016, 08:21:52 PM
 #60

Wondering what is the point of using some shady wallet while you have blockchain.info?
Yes everything has its pros and cons, but they are not likely to steal your btc or be ghosted one day.

And there are only few trustworthy exchanges out there.

I recently had problems with blockchain.info. In my opinion the most friendly online wallet/exchange is Coinbase. They have a very simple interface, and from what I know very good security.

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