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Sucks to be the OP but storing any crypto in an exchange is idiotic and literally the first thing on any list of "how to secure your crypto" is to not do it. Th
by socialist_coder 7y ago
Sucks to be the OP but storing any crypto in an exchange is idiotic and literally the first thing on any list of "how to secure your crypto" is to not do it. This shows the OP is just being willfully ignorant.
Exchanges get hacked or are victims of internal fraud at a level that is far beyond any acceptable risk. https://coinsutra.com/biggest-bitcoin-hacks/ https://coinsutra.com/biggest-bitcoin-hacks/
If you have any kind of serious crypto holdings, you should either be using hardware wallets or a PC that you only use for crypto. Nothing else.
* Buy crypto, transfer to your PC, turn off PC.
- thinkmassive 7y agoFor any significant crypto holdings you should be using a hardware wallet, and for serious holdings you should also use a multisig setup.
- pazimzadeh 7y agoRight but what if the blocks fill up and transactions are taking forever right when you (and others) have the most interest in selling?
- aphextim 7y agoThis is why you do long term holding in BTC or any coin that may take longer to confirm on the chain and the money you are playing/trading with should be in an asset like XLM which transfers in seconds. Now if the whole thing is tanking and you want to transfer your entire savings to try and ride the wave you are already too late if your money is not already on an exchange and you shouldn't be 100% swing trading anyway. Just my opinion on how I handle it.
- thinkmassive 7y agoThat’s not really a security issue. It sounds like a speculation issue. Treat custodial services like a porta-potty at a shitty music festival: do your business then GTFO For Bitcoin you should always aim to use the lowest fee possible, and use replace-by-fee (RBF) if a transaction is taking too long.