Bitcoin Forum
June 28, 2017, 07:23:02 AM *
News: Latest stable version of Bitcoin Core: 0.14.2  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Mtgox BTC (keep it at mtgox, or store it locally?)  (Read 1397 times)
Herodes
Hero Member
*****
Offline Offline

Activity: 868


View Profile
May 09, 2011, 06:24:20 AM
 #1



I was wondering what everybody's view on this is. When you buy bitcoins on mtgox and you intend to sell them again at some later point, do you just keep it at mtgox.com, or do you 'transfer' them to your local computer?

what would the pros and cons be? Obviously if you want to sell quickly, having the bitcoins in mtgox is the way to go, as it takes some time to deposit the bitcoins.
1498634582
Hero Member
*
Offline Offline

Posts: 1498634582

View Profile Personal Message (Offline)

Ignore
1498634582
Reply with quote  #2

1498634582
Report to moderator
1498634582
Hero Member
*
Offline Offline

Posts: 1498634582

View Profile Personal Message (Offline)

Ignore
1498634582
Reply with quote  #2

1498634582
Report to moderator
POLONIEX TRADING SIGNALS
+50% Profit and more via TELEGRAM
ALTCOINTRADER.CO
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
BitLex
Hero Member
*****
Offline Offline

Activity: 588


View Profile
May 09, 2011, 07:00:24 AM
 #2

well, it depends on how quick you wanna react on market-moves.

keep them on mtgox
pro -> you're able to sell as soon as the price moves/reaches your target
con -> you need to trust, you don't have control about the wallet, MT might run away, mtgox be hacked, hi-jacked, or whatever.

keep them local
pro -> no need to trust anyone, you have full control about the wallet (better make some backups)
con -> to sell (on mtgox) you have to wait an hour or 2 for you transaction to confirm, price might have dropped by then.

so it all depends on the timeframe between now and some later point.

koin
Legendary
*
Offline Offline

Activity: 874


View Profile
May 09, 2011, 07:41:20 AM
 #3

When you buy bitcoins on mtgox and you intend to sell them again at some later point, do you just keep it at mtgox.com, or do you 'transfer' them to your local computer?

transfer back local.  

that is something big money bidders don't understand is happening.  when the price goes up they should give a few hours for funds sent in response to arrive and their buy offers will get hit.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!