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Author Topic: Storing BTC and USD safely whilst day trading. HELP  (Read 792 times)
finbar (OP)
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January 08, 2014, 03:12:51 PM
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Hi I was previously an owner of BTC, untill i was hacked and robbed of my btc-e account (around $7000 at todays price, which is similar to the time).

To be fair i'm aware that there were a whole load of precautions i could have taken, but i did not research properly into them and so on.

I am looking to buy back some coins and have the money saved. Finding that i usuallyy make profitable day trading decisions i liked to keep all my BTC/USD on btc-e, but as i found out that's not the safest thing to do.

What i'm wondering is how i can store my BTC so its easily accessible to my btc-e account for quick transactions, i hear this is fairly simple (but i am a noob so hey). Also a way of safely storing USD off the btc-e website so that i can use it very quickly to make purchases.

Any help would be great. Thanks.


If you feel like helping me BTCack on my feet: 1sDMKUapfrYmJ6RyxfEALmb4K3r6RhLJn
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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koryu
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January 08, 2014, 03:38:48 PM
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sorry for your lost. Did you use two factor authentication?
finbar (OP)
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January 08, 2014, 04:06:47 PM
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sorry for your lost. Did you use two factor authentication?


No stupidly not, but i'll just have to learn from that mistake i suppose.
jimmyjimmy
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January 08, 2014, 08:12:28 PM
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sorry for your lost. Did you use two factor authentication?


No stupidly not, but i'll just have to learn from that mistake i suppose.

You wasn't stupid about this "mistake".
Anyways i suggest you to make a paper wallet , that's the best way to store your BTC.
finbar (OP)
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January 09, 2014, 03:35:56 AM
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sorry for your lost. Did you use two factor authentication?


No stupidly not, but i'll just have to learn from that mistake i suppose.

You wasn't stupid about this "mistake".
Anyways i suggest you to make a paper wallet , that's the best way to store your BTC.

Yeah, but if i put them into a paper wallet is it easy and quick to move my BTC in and out of btc-e?

Also if i want to hold USD can i put that in a paper wallet?
koryu
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January 09, 2014, 08:38:02 AM
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for daytrading you must have money on the exchange because funding takes too much time. if you use two factor authentication it should be secure. best way is to use a device for it which is never connected to the pc you are trading with.
finbar (OP)
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January 09, 2014, 10:39:50 PM
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best way is to use a device for it which is never connected to the pc you are trading with.

you mean for 2fa?

Are you sure there is no quicker way i can hold usd not on the site. Like a dollar code or something of that sort.
Freyja
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January 09, 2014, 10:47:22 PM
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sorry for stealing your thread a bit here but what is 2fa and paper wallet?  Huh
kaliNZ
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January 10, 2014, 01:32:59 AM
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sorry for stealing your thread a bit here but what is 2fa and paper wallet?  Huh

2fa = two factor authentication

A paper wallet is a mechanism for storing bitcoins offline, on paper.
koryu
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January 10, 2014, 08:25:19 AM
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best way is to use a device for it which is never connected to the pc you are trading with.

you mean for 2fa?

Are you sure there is no quicker way i can hold usd not on the site. Like a dollar code or something of that sort.

yes for 2fa.
never heard of such a way.
nerobie
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January 10, 2014, 11:20:41 AM
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i can use it very quickly to make purchases.
finbar (OP)
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January 10, 2014, 11:50:29 AM
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i can use it very quickly to make purchases.

You can use what?
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