Are you going to keep your BTC on exchange during the upcoming forks?

[hatshepsut93]

The common advice for a fork is to move your money away from any online wallet and store it safely in your own wallet. And this is in fact a really good advice, because it's always safer to store your coins by yourself. But after August 1st some people who followed this advice started making angry posts about how they regret listening to it because they missed on an opportunity to sell their BCH coins while the markets were closed for deposits for that coin. This showed that holding your money on exchange is a risk that also has a potential reward - immediate access to a closed market for a forked coin.

So, I'm curious to ask traders two things:

1. Did you hold your BTC on exchange on August 1st?
2. Are you going to hold on exchange during Bitcoin Gold fork and during SegWit2x fork?

[dothebeats]

The previous fork, I only received a portion of what I'm supposed to get, and that's because I kept my coins on an exchange that doesn't fully support the split during that time. A month later, they decided to give their users their share of the split during that day's conversion rate. It was unfair, but at least they have given something to their customers. I'm not making the same mistake again and I'll keep my own coins in my own wallet to take advantage of the upcoming split.

[mk4]

1. Did you hold your BTC on exchange on August 1st?
Nope. Because leaving funds on exchanges are really unsafe. Also, whether or not there's an upcoming fork or not, it's always best to leave your funds on your own wallet.

2. Are you going to hold on exchange during Bitcoin Gold fork and during SegWit2x fork?
Nope. Why? Same answer as my first answer. Also, it takes time for exchanges to give you access to your forked coins. Sometimes they don't even give you access, depending on the exchange.

[DaMut]

actually it's all depend on the trader themself,
what they want to choose,hold it by themself or store it in there.
we should know a fact what will happen if you are storing your coin on exchanger.
1.You do not own your private keys,it's needed to get an access to your clone coin after the split
2.Even if they support it,they will delay it due to some reason.
when the trade is live,they will 'hostage' your clone for sometime until the price is 'stabilize' aka 'down'.
(it it's for them who's supporting it).
3.You will get nothing if they did not support it.

the wisest way that we need to do is store it and keep it by ourself,
because nobody will keep your money without any benefit for themself.

[Kemarit]

The previous fork, I only received a portion of what I'm supposed to get, and that's because I kept my coins on an exchange that doesn't fully support the split during that time. A month later, they decided to give their users their share of the split during that day's conversion rate. It was unfair, but at least they have given something to their customers. I'm not making the same mistake again and I'll keep my own coins in my own wallet to take advantage of the upcoming split.

Exactly. Because its not clear in the beginning if the exchanges are going to support Bitcoin Cash then. So just like everybody else, I store my coins to a wallet that I have total control of my private keys. Last time I checked, they are going to support Bitcoin Gold so its gonna be free coins for me. However, I'm still contemplating on storing my coins to take advantage of the upcoming split. Still few days to go before I make my decision, so let's see.

The common advice for a fork is to move your money away from any online wallet and store it safely in your own wallet. And this is in fact a really good advice, because it's always safer to store your coins by yourself. But after August 1st some people who followed this advice started making angry posts about how they regret listening to it because they missed on an opportunity to sell their BCH coins while the markets were closed for deposits for that coin. This showed that holding your money on exchange is a risk that also has a potential reward - immediate access to a closed market for a forked coin.

It was not clear though during the Aug 1 split and there was a lot of confusion and chaos and the aftermath shows a lot of people gets angry for not getting free coins. And the fear that you are going to lose your bitcoin if you put it all everything in a exchange. But the Oct. 25 is clearer now. Are you going to make the same mistakes again?

[susila_bai]

During last hardfork August 1st i kept small portion of bitcoin in yobit and other wallet and main bitcoin balance was in desktop wallet, as soon as the hardfork happened i immediately received BCC/BCH coins in exchange like yobit and was able to sell them on high rate but i was not able to claim my hardfork coins for bitcoins kept in desktop wallet due to risk of getting the wallet hacked and have to create new wallet and i dont want to take risk. So this time i am thinking of transferring all my bitcoins to yobit wallet and as soon as hardfork happen i will withdraw it and just sell the hardfork coins at high rate.

[Gozie51]

The previous fork, I only received a portion of what I'm supposed to get, and that's because I kept my coins on an exchange that doesn't fully support the split during that time. A month later, they decided to give their users their share of the split during that day's conversion rate. It was unfair, but at least they have given something to their customers. I'm not making the same mistake again and I'll keep my own coins in my own wallet to take advantage of the upcoming split.

More like once "beaten twice shy ". Your response have taught me something. I have to follow in the holding too because I do desire to get some of that benefit but don't know how the advantage will be, is it going to be like percentage or something....

[amaral1977]

The common advice for a fork is to move your money away from any online wallet and store it safely in your own wallet. And this is in fact a really good advice, because it's always safer to store your coins by yourself. But after August 1st some people who followed this advice started making angry posts about how they regret listening to it because they missed on an opportunity to sell their BCH coins while the markets were closed for deposits for that coin. This showed that holding your money on exchange is a risk that also has a potential reward - immediate access to a closed market for a forked coin.

So, I'm curious to ask traders two things:

1. Did you hold your BTC on exchange on August 1st?
2. Are you going to hold on exchange during Bitcoin Gold fork and during SegWit2x fork?

I have some BTC on my own wallet, but also a small trading stash on various exchanges. What i did was keep it in exchanges that previously stated that they would credit the forked tokens as well in case of BTC cash. They actually did and all wen´t well. So my trading stash will be kept on exchanges while im tradind despite forks or no forks.

[omonuyak]

I could have taken advantage of the split's coin in august this year but because of the  little knowledge about how things work I miss during that time. However this time around I am going to keep all my coins in three exchangers platforms that I trust in other to take advantage of the hardfork and splitting coin. I have find out that no exchangers has run away with any body coins during splitting since inception and I am ready to stay with that.

[pawanjain]

The simplest answer would be if the Exchange supports the coin then it won't be any problem to deposit the coins on it to receive the free coins.
Yes I did stored my coins on Bittrex while the August 1st fork happened and I did receive the BCH but at that time bittrex had already announced that it will be supporting the fork. But there has been no announcement made yet from Bittrex whereas Yobit has said that they will be supporting the fork.
Really a tough decision as what to do.

[palle11]

I don't have much to transfer to exchange, so I guess whatever I have will be on my wallet and I think it is even better for me that way to avoid any misses.

[TwoSigm4]

Not sure,
Altcoins are falling and it seems the best time to buy,
I am also considering the forking,
I ll check this forum,
I am just newbie and bery curios to know which better.

[BitHodler]

It depends. If we look at Bittrex, they enabled BCC trading very soon after BCC became a completely separately operating altcoin, where people had the chance to cash out at insane levels.

I expect the same to happen where initially the price jumps up to unreasonably high levels, where after deposits become available, the coin will literally plummet as a rock to the bottom, which is understandable.

I think I will have like 2 or 3BTC on exchange to hopefully benefit from the extreme shortage of Bitcoin Gold coins due to deposits not being available yet ~ I fully understand and accept all involved risks.

[Bridg3Wat3r]

I would keep my Bitcoin,
Some trading platform would support it,
So I sent it there. No messy.

Just sit down waiting foor it,
Later I can buy very very cheap coin

[Danos]

Cold storage for sure

[hatshepsut93]

Exactly. Because its not clear in the beginning if the exchanges are going to support Bitcoin Cash then. So just like everybody else, I store my coins to a wallet that I have total control of my private keys. Last time I checked, they are going to support Bitcoin Gold so its gonna be free coins for me. However, I'm still contemplating on storing my coins to take advantage of the upcoming split. Still few days to go before I make my decision, so let's see.

All or almost all exchanges made their statements regarding BCH many days before Auguest 1st, so there was plenty of time to prepare. The advantage of storing your coins on exchange was not clear before the august 1st and many people viewed it as unnecessary risk. But forks can be different from each other and it is also unclear now whether it's a good idea to store your coins on exchange during SegWit2x fork - this is why I created this thread, so traders can share their opinions.

It was not clear though during the Aug 1 split and there was a lot of confusion and chaos and the aftermath shows a lot of people gets angry for not getting free coins. And the fear that you are going to lose your bitcoin if you put it all everything in a exchange. But the Oct. 25 is clearer now. Are you going to make the same mistakes again?

People were angry not because they didn't get free coins, but because they were unable to sell their free coins on closed market when the price was pumped just as soon as the trading started. Specifically, the price reached as high as 0.25 BTC or even more (I don't remember exactly), but when deposits were opened, the price crashed to 0.07-0.09.

[1Referee]

I will in this case (referring to the split of this month). Current market is bouncing up and down a lot, which for a trader is a welcome happening. I am however not sure what I am going to do at the time the hard fork in November will kick in. Sure, there will be a whole lot of volatility due to the uncertainties, but the overall security/safety of my coins has the highest possible priority. Segwit2x, if the hard fork indeed turns out to happen, then it won't be the same as Bitcoin Cash and Bitcoin Gold at all - this will have far more potentially negative consequences than most of the people here realize.

[arpon11]

The common advice for a fork is to move your money away from any online wallet and store it safely in your own wallet. And this is in fact a really good advice, because it's always safer to store your coins by yourself. But after August 1st some people who followed this advice started making angry posts about how they regret listening to it because they missed on an opportunity to sell their BCH coins while the markets were closed for deposits for that coin. This showed that holding your money on exchange is a risk that also has a potential reward - immediate access to a closed market for a forked coin.

So, I'm curious to ask traders two things:

1. Did you hold your BTC on exchange on August 1st?
2. Are you going to hold on exchange during Bitcoin Gold fork and during SegWit2x fork?

During the last August hard fork, I transferred most of my coins from exchangers and keep them in my wallet. But the few I left in exchangers really appreciate and I regret ever transfer my coins then. This time around I am going to live my coins in exchangers and even transfer more from my wallet to exchangers platforms. I see that the exchangers reward all their customers who lives they coins in exchangers with free coins. I believe that during the split bitcoin will be pump because of this free coins and I will like to take advantage of it.

[malikusama]

The common advice for a fork is to move your money away from any online wallet and store it safely in your own wallet. And this is in fact a really good advice, because it's always safer to store your coins by yourself. But after August 1st some people who followed this advice started making angry posts about how they regret listening to it because they missed on an opportunity to sell their BCH coins while the markets were closed for deposits for that coin. This showed that holding your money on exchange is a risk that also has a potential reward - immediate access to a closed market for a forked coin.

So, I'm curious to ask traders two things:

1. Did you hold your BTC on exchange on August 1st?
2. Are you going to hold on exchange during Bitcoin Gold fork and during SegWit2x fork?

It is a quite bad idea to hold your funds on exchnages whether there is a fork or not, exchanges are not safe at all.
No i didn't hold my BTC on the last fork because it was not safe, although many of the exchanges were offering BCC with BTC on the last fork.
The upcomig Bitcoin Gold fork is weak and don't have any well support as like BCC, so it seems that there isn't any benefit of holding your funds on exchnages.

[h0lybyte]

It is really unsafe to hold your bitcoins at exchanges because sometimes you are beneath their consideration of distribution.
They don't give you early access to avail forked currency.  You can simply choose a safet online wallet which has previous good record on bitcoin cash fork.
At the time of bitcoin cash fork, i used xapo wallet, still holding some more for next fork.