Where is it safe to store money?

[iru786]

bitcoin wallet is safety place for your money if you start investing in the bitcoin. you can use this to buy online purchases.

[1715448865]

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[1715448865]

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[1715448865]

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[dunfida]

Hi,


Just wondering , is it safer to keep money at an exchange like place poloniex or kraken what not or a wallet like Electrum?

It is very neat to have it all in one place like an exchange, for example, I currently mine and use their address to deposit my earnings for bitcoin I used to give my Electrum address but now I'm thinking it's better to just keep them at one spot?

Pros and cons of one vs another?


TIA

Its never been safe to keep your coins or bitcoin all in on an exchange wallet the risk involved on losing those money is high since you don't really posses the privatekeys of it which means only exchange owners do have access which means whey they do down or a problem do rise they can anytime ran off with the money since you don't have the possession of keys which means you coins are lost forever unlike on those wallets that you do have access on its keys do always have an advantage.

[Prodigan786]

I recommend keep your funds maximum in bprivate key holding wallet . I have funds devided in 3 category
1) Blockchain and MEW other private key holding wallets
2)Trading Exchanges for Buying and selling(Bittrex,yobit etc)
3) Local Exchanges foe keeping money to withdraw for emergency.

[Leickens]

Pls I advise you that it really pay to convert your money to BTC and store it into your wallet

[Superzpay]

I keep all my bitcoins in an online wallet at different sites. All the sites just will not run. It certainly creates some inconveniences due to the large price transactions, but first I'm not wasting my coins and maybe in the future I'm going to use large transactions, and secondly after August 1 was going to solve the issue. Wait and see.

I'm also keeping and storing my bitcoin in an online wallet and I have only one wallet as of now because my account is only one also but I'm planning to make another account next time if my current account would rank up to Sr. Member. Storing bitcoin in an online wallet is risky because in that particular situation people would possibly scam because there's a lot of scammers in this world. I must suggest to store your bitcoin in the safest bank near at your place to make sure it is safe.

I don’t think so keeping bitcoins in your e-wallet is risky. You can keep them as long as you want in your wallet for the security offered is great. If we talk about scammers, then becoming their victim is extremely our fault. Banks are also hacked often.

[calandra78]

It is better to just deposit it in one account, for more control and with the best security caracteristics that can offer the vitual wallet you are saving your bitcoins.

I agree with keep in one account then it will mempermudahkan us to control, we must also be more meticulous and careful in storing your money especially if this is bitcoin. don't forget we have to add the key so outsiders can't access in our accounts. When we save in the form of money that would be more secure in a bank in the real life.