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Author Topic: Do you think its safe to leave coins in exchange like yobit and c-cex?  (Read 886 times)
puremage111
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May 09, 2017, 01:17:13 PM
 #1

Recently i just lost $500 due to my weak passphrase for my wallet

Thinking to leave coins on c-cex right now

I have 2fa activated for my c-cex

Do you guys think its okay to leave my coins there?





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ratatatat
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May 09, 2017, 01:54:22 PM
 #2

Just a matter when not if you loose them.
LTU_btc
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May 09, 2017, 10:44:18 PM
 #3

It's not good idea to keep big amount of coins on exchange. Even most reputated exchanges nay be hacked or turn into scam, there are enough examples. It would be better to keep bitcoins on cold storage.
But if you decided to keep coins on exchange, it would be safer to keep bitcoins or just few most popular altcoins. Other coins wallets can go to maintenance mode and you will not able to withdraw it.

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May 09, 2017, 10:56:16 PM
 #4

I never tried to stay my funds longer in exchanges site more possibility that the site can be hack someday just like other trading site before remember mt.gox and other trading site before.
Always better to keep your coins into safety wallet or official wallet like in bitcoin wallet electrum. its more safe that staying your coins in those site..


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May 09, 2017, 11:15:03 PM
 #5

Cause of the cases in past people are afraid to keep money in online exchange sites. I keep my alts on poloniex and for me they are much reliable then yobit, that is not just my opinion you can see in forum that more people have trust in poloniex then in yobit, that's why I'm not using yobit anymore. Bottom line is that you choose how much will you trust in some online exchange site, nobody can guarantee you that everything will be perfect all the time.

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May 10, 2017, 11:54:05 AM
 #6

No I don't think it's safe because of the past history of hacking on exchanges,you lose your money in your wallet because of you lose control or forgot your passphrase you can retrieve that in another way,but losing your coins on exchanges,that is hard to retrieve.

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SimmonenY
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May 10, 2017, 12:17:49 PM
 #7

Like everybody else have already said here, it's a bad idea. If you have a big amount of BTC there it's better to use cold storage or better divide them: leave the necessary amount in exchange and the rest put in the wallet.
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May 10, 2017, 03:23:53 PM
 #8

Just a matter when not if you loose them.

This. Practically the only exchange that is safe to leave coins on is Coinbase, and that is because they have taken out insurance to compensate people if they are hacked and their coins are stolen.

Most exchanges are too cheap to either provide good security or to pay an insurance premium to compensate them for loss.

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