Do you keep Bitcoin on Exchanges and online wallets?

[Devh 564]

On 10/24/2019 at 2:53 PM, hexwin said:

Simple question and VOTE ☝️:

Do you keep your Bitcoin on Exchanges and online wallets and where?

Do you think it is safe or not?

I keep BTC in mostly exchange but the exchange should be must old and decentralized like Yobit. It is very safe and time saving because we dont know the future like happened 3 days ago that BTC come to 10000 from 7400. So i think we should keep BTC in online exchanges. This is safe if you put 2FA. But if you are holding then hardware and offline wallets are the good option for us. But we should not trust the KYC exchanges specially where BTC is not regulating. Like if i had BTC in bittrex then i would no access to my funds. So simply the exchange or wallet is best option but must be decentralized.

[hexwin 4931]

I am so sad to see this Voting results 😞

You should NEVER hold Bitcoin on exchanges and Online wallets long term.
Why?

- Holding on Online Wallets (blockchain.com) is not safe as your private key is exposed to internet,
and wbesite  can be hacked as well as your account, and you can also be phishing victim.

- Holding Bitcoin on exchanges is not safe as exchange can close any time they want, or they can be hacked and your Bitcoin will be lost.

You should know that when you send Bitcoin there... you say adios to your coins, and you are making a big risk

Edited October 29, 2019 by hexwin

[Mohs3n71 0]

2 minutes ago, hexwin said:

You should know that when you send Bitcoin there... you say adios to your coins, and you are making a big risk

so you are telling people that they should never send their coins to any exchange ? so how they should trade without sending their coin to an exchange ?

[hexwin 4931]

Just now, Mohs3n71 said:

so you are telling people that they should never send their coins to any exchange ? so how they should trade without sending their coin to an exchange ?

I am talking about long term HOLDING and not about trading.  You trade and withdraw.
And there are also options where you can hold and exchange in same time...like in AtomicDEX or similar.

[myaccount1 584]

According to me keeping bitcoin in wallet and exchanges both are good but the main thing is that if you keep or store your money in good exchange then it will be very better for us because the good exchanges is gives us insure and back our loss.

[MyThoughts 514]

In truth, I keep my money on online wallets and absolutely don't worry about their disappearance, because I've studied the sites I've chosen well in advance. 

[Marat159 36]

I have a bit on exchanges. And almost all of my cryptocurrency funds are stored in wallets, but still you should not trust exchanges or online wallets 100% 

[Khan 1414]

On 10/27/2019 at 9:23 AM, Nokuto said:

I keep my bitcoin in an online wallet  on an online wallets even though it is too risky. But in my case i also didn't keep it at long period of time.

It good if you are not thinking to keep the coin for long time period then the online wallets are the best choice and its always free as compared to the private wallets.

[Crypto123 0]

Yes, I store the Cryptocurrencies on the wallets and trading exchange online, but I usually do not store in one wallet or one exchange, according to the saying that do not put all the eggs in one basket, I mean, if I lose one I have the other.

[wingfield 137]

I have great confidence in online wallets, but also in certain exchanges. I never invest in currencies that are listed on ghost exchanges, because my investment may be in danger, and I may lose everything for a fool. I prefer exchanges like Yobit, Binance.

[Abdelsatar fawzy 1]

 keep all my Coins on my Hardware wallets. If I trade I send some to an exchange and buy and altcoin for example and send him to my hardware wallet

[Cryptominded 704]

On 10/24/2019 at 12:02 PM, bichou1584 said:

According to the vote, many people keep Bitcoin in the wrong place. The texts are easy to breach and a lot of trading platforms are closed and people have lost their money this way

Well there is just no way of using the facilities provided by exchanges or online wallets without  putting your fund in them but for safety sake, what is recommended is never to leave any amount we cannot afford to lose in an exchange or online wallets. I personally have seen  up to 3 exchanges disappear with my funds and there are no guarantees that we have heard the last.

[Rares002 262]

18 minutes ago, compserle said:

I think it's еxcеptiоnally hаzаrdоus to keеp it on an wоrldwide trаdе likе Binanсе оr Bittrex, pоssibly in the еvent that the trаde is found in yоur nаtiоn and your cash is ensurеd, I dо nоt think it's not prоblem

Binance and Bittrex are a some safe exchanges probably some of the safest on the market but that's exactly why the risk is even higher. Because hackers always target this big exchanges knowing they can steal a lot of money from them 

[dhemasm 219]

Yes, mainly I save bitcoin on online wallets like blockchain.info and sometimes on exchanges and often I save on binance to do some trading, Nothing is safe on the internet even binacne has also been hacked but than others like the best and respond binary quickly so I'm not I'm not afraid to save my money and bitcoin there.

[Bookpay 26]

12 hours ago, Giovana B said:

I only let my coins for trading in exchanges, my holding coins are safe in wallets which I own the private keys, that the right way to keep your coins I think, not all in exchanges.

For trading everyone keep in exchanges. But sometimes it also becomes a problem as I was having some ETN coins on cryptopia and now they are working on liquidation and the site is down and we are waiting for our withdrawal. 

[Lupandina 17]

I keep part of my coins in exchanges or online wallets, but with few conditions: it must be small amounts, which I need to be easy accessible, it must be highly trusted sites (like, I never would keep even a dollar in site like cryptopia or similar), and there must be some benefits of it (f.e., interests and staking rewards in Binance, or smth similar). 

[Nicecrypto 543]

17 hours ago, Marat159 said:

I have a bit on exchanges. And almost all of my cryptocurrency funds are stored in wallets, but still you should not trust exchanges or online wallets 100% 

Right I don't think storing funds on exchanges even if they are really recognize exchange is a good practice to me however I do have some funds there too and will normally have the rest in wallet unless I want to trade. 

[Rg123 318]

well, i think all people who have a crypto coins wll have an online wallets to secure their coins of course and also in exchanger to exchange their coins to the real money.

[Great Commander 659]

Absolutely, that is an easy way to protect your money from hackers and ensuring your 2fa is enabled your good to go. Trading platforms requires us to verify our identity so that makes sense to trust them and their wallets they offerel.

[bean 515]

I keep bitcoin in my online wallet, exchanges are easier to hack than online wallets you have your wallet privates and without your private keys it will be difficult for hackers to get access to you online wallet.

[flomopeter 135]

On 10/25/2019 at 9:52 AM, dion2566 said:

I only store bitcoin on the exchange because I use it for trading. Every benefit that I can get directly into my bank account. I don't have a lot of bitcoin for only 0.5. If I have a lot of bitcoin, it will be safer to save it in a wallet.

I you are a active trader of bitcoin it is much preferable to keep it on an exchange it makes it easier to access your bitcoin to make a trade fast, online wallet take time to get your bitcoin to exchanges.

[MyThoughts 514]

9 hours ago, bean said:

I keep bitcoin in my online wallet, exchanges are easier to hack than online wallets you have your wallet privates and without your private keys it will be difficult for hackers to get access to you online wallet.

I don't know exactly which is better, because I don't have such advanced skills in the field of software, program code, etc.

[Tine0313 3053]

Yes i do both. I keep my bitcoin to my wallet and wait for a higher value. When the time i need money, I exchanged it to a real money. But I prefer keeping it to my wallet.

[nira09 115]

I keep Bitcoin and some of my Altcoins in the Exchange which are trusted and have insurance for our funds. besides that Bitcoin and Altcoin that I have not too much. but if you have a large amount of bitcoin it's better to keep it in a personal wallet

[flomopeter 135]

7 hours ago, dion2566 said:

yes I am very active every day trading in various markets, so indeed storing in the wallet market is the best solution for me to be able to trade quickly when I want to buy a good type of coin.

Yeah active traders need to have assets on hand to trade fast before the market changes, saving you bitcoin on exchanges wallet will give you the chance to move on the market fast.