Poll : do you trust an exchange to hold your bitcoins ?

[farnsworth7]

We all know Bitcoin is made so that you can be your own bank, and if handled properly, it's the only way for your money to be really secure.

Nevertheless, I'm sure many of us still have a significant amount of bitcoins on an exchange, for various reasons (because we trade a lot, or because we trust an exchange more than a paper wallet).

Please answer this quick poll : https://fr.surveymonkey.com/s/PPX6WK5

I will update this post to show you the poll results.
(Edit : you can also see the results of the poll right after you answer it. I added Coinbase in the list.)

[1714759853]

1714759853

[1714759853]

1714759853

[Meuh6879]

[BitCoinDream]

We all know Bitcoin is made so that you can be your own bank, and if handled properly, it's the only way for your money to be really secure.

Nevertheless, I'm sure many of us still have a significant amount of bitcoins on an exchange, for various reasons (because we trade a lot, or because we trust an exchange more than a paper wallet).

Please answer this quick poll : https://fr.surveymonkey.com/s/PPX6WK5

I will update this post to show you the poll results.

Why are u giving a surveymonkey poll while we have the poll feature in the forum itself ? That way, u dont need to update the result too... we can see it ourselves.

[DolanDuck]

There's no sense in holding ALL the bitcoin savings into an exchange but if I would be forced I'll deposit mine into BitStamp,
the only one I trust.

Offline wallets + paperwallets + online wallets (small amount to trade) to be secure and have some fun.

[farnsworth7]

Why are u giving a surveymonkey poll while we have the poll feature in the forum itself ? That way, u dont need to update the result too... we can see it ourselves.

I used a surveymonkey poll because I also posted this poll elsewhere, and I want to centralize all results in one place.

I changed the settings of the poll so that you can see the results right after you answered it.

[Cryptopher]

Do I trust them? No, why would I?

Do I do it? Yes, I'm an idiot

[jc01480]

Other: Coinbase

They are pretty good.  I like their exchange.

[farnsworth7]

What I personally do : I own about 30 btc, and I let them sit on Kraken.
I keep them there for several reasons :

- I dont trust myself to keep a paper wallet safe for a long time.
- I mostly trust Kraken, in particular because they have automated audits.
- I want to be ready to sell quickly in case of a huge crash.

[BitcoinBulls]

I would trust Coinbase more than anyone else.  I don't see any reason to keep all of your crypto holdings in an online wallet though, especially if they are significantly large. 

[DuckDuckMoose]

Short: No.

However, I tend to keep only about 0.2btc in an exchange at any given time.

[ashish12]

Trust no one when it comes to $$$

[SOEHARTO]

maybe no . but for reason manual maybe yes

[zetaray]

I only send bitcoin to an exchange when I want to sell them, and will keep fiat there until I buy the coins back. I do not trust any exchange, not only because they might become insolvent any minute, but they might also force me into verification before I can withdraw anything.

[acs267]

No. I have held Bitcoins in a exchange, but normally, the amount isn't over .2BTC.  And if I hold it, it's either for a few days or a day. I don't do it because exchanges control the accounts, and your Bitcoins. Some exchanges can also glitch, like the negative balance at Cryptsy. And a example of them controlling your funds is when Vircurex froze all user's Bitcoin, Litecoin, and Feathercoin balances.

[Benjig]

Dont put bitcoins in exchange, or if you want to, keep small amounts below 5 btc and keep monitoring the exchange very often, almost always there are signs before the shutdowns of the exchanges

[Bogleg]

If the exchange has a record of honest conduct.

[SirChiko]

Not ALL bitcoins for sure i keep max of 0.5 coins on exchanges.

[chennan]

I only send bitcoin to an exchange when I want to sell them, and will keep fiat there until I buy the coins back. I do not trust any exchange, not only because they might become insolvent any minute, but they might also force me into verification before I can withdraw anything.

me too. Even the exchange is big and stable, I still do not trust them. Do you guys still remember Mtgox why to file for bankruptcy? Hacker can steal all the BTC in the wallet of the exchange once they found the security issue and donot care how large the exchange is.

[kerafym]

I only send bitcoin to an exchange when I want to sell them, and will keep fiat there until I buy the coins back. I do not trust any exchange, not only because they might become insolvent any minute, but they might also force me into verification before I can withdraw anything.

me too. Even the exchange is big and stable, I still do not trust them. Do you guys still remember Mtgox why to file for bankruptcy? Hacker can steal all the BTC in the wallet of the exchange once they found the security issue and donot care how large the exchange is.

Mtgox went down largely due to incompetency and insider theft.

How many people actually believe the theft happen more than 1 year and no one discover it?

[TrailingComet]

Absolutely not, have been stung several times by online exchanges, most notably by MtGox