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

[DubFX]

Nope, never trust exchanges they can claim they were hacked anytime and just steal the coins themselves and disappear right after that..or get really hacked.
Types of offline wallets are safest ones.

[rikkie]

No i don't trust it. I keep them by me. I think it's safer so.

[trand]

absolutely not, exchange can close anytime and not easy to WD from exchange they have minimum WD so if your exchange close and your balance not enough to WD you will lose all your balance on exchange

[AceWallen]

i only play the bigger swings, so as soon as i buy back, i move my coins to my local wallets. but those times waiting in fiat make me nervous...

[iram3130]

I only trust exchange for some portion of my bitcoin, I never deposit all bitcoin in any exchange. Just play cautiously and you will be safe always.

[anujjain]

I do not think anyone will reply with surety they trust 100% exchange and feel safe with all their Bitcoins, but mostly try to diversify their Bitcoins in different exchanges. same with me I use 2 Big exchange and only put coins their I need for trading rest in my wallet.

[DrG]

I assume whatever coins I have on an exchange are lost.  Not that I don't check them everyday, but a Gox can happen at any moment and honestly I don't have the financial means to pursue prosecution.

[Harley997]

I assume whatever coins I have on an exchange are lost.  Not that I don't check them everyday, but a Gox can happen at any moment and honestly I don't have the financial means to pursue prosecution.

Why do you even have them in an exchange in the first place if you have so little faith in them?

[michaelwang32]

I trust Kraken, Bitstamp. Why not to trust exchanges?
But I do not want to hold all my money there. Who knows...

[smashingpumpkin]

Exchanges are for exchanging, wallets are for keeping coins.

Simply use things in the way they are supposed to be used and you will be fine.

[gigalew]

only for small amounts while trading, then i remove the coin

[Nawaytes]

I do not think so,
I get quite a lot of profits when trading, although taxable exchange

[michaelwang32]

I do not think so,
I get quite a lot of profits when trading, although taxable exchange

And what exchange you choose?

[CEG5952]

Exchanges are for exchanging, wallets are for keeping coins.

Simply use things in the way they are supposed to be used and you will be fine.

The problem is when you are waiting in $$ for the volatile spikes downward to buy. Wiring $$ out to your bank account means you might miss big opportunities. Hence the drive to keep $$ on the exchange -- no other way to do it.

[tescomatty]

History shows Bitcoin exchanges have relatively short lifetime, I guess 90% likelihood failure in 5 years. Thats why I keep stuff there only for shortest time necessary, to reduce my risk. So far good for me

[Harley997]

Exchanges are for exchanging, wallets are for keeping coins.

Simply use things in the way they are supposed to be used and you will be fine.

The problem is when you are waiting in $$ for the volatile spikes downward to buy. Wiring $$ out to your bank account means you might miss big opportunities. Hence the drive to keep $$ on the exchange -- no other way to do it.

This is true if your intent is to trade the bitcoin you have. If you intention is to save your bitcoin and/or spend it on good/services then transferring money to an exchange is a feesible option

[Habeler876]

Exchanges are for exchanging, wallets are for keeping coins.

Simply use things in the way they are supposed to be used and you will be fine.

The problem is when you are waiting in $$ for the volatile spikes downward to buy. Wiring $$ out to your bank account means you might miss big opportunities. Hence the drive to keep $$ on the exchange -- no other way to do it.

This is true if your intent is to trade the bitcoin you have. If you intention is to save your bitcoin and/or spend it on good/services then transferring money to an exchange is a feesible option

Well, this is the "Trading Discussion" forum.

I wish there was a way that I could safely hold $ to send to exchanges quickly (in the way you can do with BTC), but the banking system has its drawbacks!

[DannyElfman]

Exchanges are for exchanging, wallets are for keeping coins.

Simply use things in the way they are supposed to be used and you will be fine.

The problem is when you are waiting in $$ for the volatile spikes downward to buy. Wiring $$ out to your bank account means you might miss big opportunities. Hence the drive to keep $$ on the exchange -- no other way to do it.

This is true if your intent is to trade the bitcoin you have. If you intention is to save your bitcoin and/or spend it on good/services then transferring money to an exchange is a feesible option

Well, this is the "Trading Discussion" forum.

I wish there was a way that I could safely hold $ to send to exchanges quickly (in the way you can do with BTC), but the banking system has its drawbacks!

You don't necessarily need to trade bitcoin for fiat, IMO using bitcoin in exchange for some kind of service would be better for the bitcoin economy then trading it for fiat.

[Denise520]

Of course not. Because there are so many unstable factors, such as the environment of exchanges, honesty,etc.

[skottiejay]

I wouldn't trust any exchange, even though I do have an account with blockchain any amount of BTCitcoin i receive automatically gets transferred to my wallet because i can't have what happened a month ago happen again where i was phished for everything i had.