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November 18, 2013, 06:22:04 PM |
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Most of the advice here says to keep the majority of your BTC in cold storage and keep a little bit in a hot wallet for daytrading. In my experience it takes almost 24 hours to move BTC from cold storage into an exchange like BTC-e (is this common?). But if btc and/or altcoins experience major price fluctuations and you want exchange your btc for altcoins/USD (or vice versa) then the 24 hour turnaround would be detrimental since after 24 hours the price could be drastically different.
So when most of the advice says to keep cold storage, are they really saying keep in cold storage and ignore daily fluctuations because there is literally nothing you can do to quickly adjust to them due to technical limitations? Or is the common "24 hour turnaround" as stated by most exchanges just an outlier estimate and most cold to hot transfer take much less time?
Or am I getting conflicting advice from two groups of people: those who hold for long term and don't play daily changes, and those who keep their money in exchanges just so they play the fluctuations?
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