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RE: Users moving from Poloniex to Bittrex. Some Hints on What to Trade!
Everyone is finally identifying the risk of keeping all your eggs in one basket.
Bittrex is great for sure. Best idea is keep your trading on 2 or more exchanges incase one ever goes down.
I dont keep the majority of my coins on an exchange. I own the Ledger Nano S and am always taking profits into one of the top cryptos from my other wins! Have fun, the only secure place to store is an offline hardware wallet, or paper! Exchanges are dangerous, be for warned.
You are absolutely right, its really the best advice. Only so many still keep a signifigant portion on exchanges for whatevwr reason, so if they insist on it please spread it amoung more than 1 exchange.
Good call!
Hmm… I'm new to all this; I've moved bitcoin I had in poloniex&bittrex to a bitcoin wallet, but I've still steem and few other small quantity of other coins kept there; so, you suggest to put coins on an exchange just for the time to make the exchange, and then move them away in wallets. Though, withdrawing has a fee, and if I want to exchange more in a near future, don't you think it's better to take the risk of leaving coins on the exchanges?
Paying a small fee is nothing to losing all your coins.
Let's say you store 10k coins and got a 0.00001000 transfer fee, that's nothing comparing to losing those 10k coins right? :)
I do not think its worth risking, you can have better onlines wallets that are frmo your phone. If you are worried about fee's trying buying more Ethereum instead of bitcoin, which is now up at around 140$ from around 40$ just two months ago! So, its best not to spend. Really. I just like showing people that you can trade. I will do some videos on trading today! and about steem power and powering up! Cheeers Thank you for the comment
Well said! I also think that if someone else but you has your coins, you don't really own those coins. Basically if you don't have it in "your hands", it isn't yours. Exchanges can get hacked or shut down... Keep there what you really need to keep there but not more. Oh and yes using several exchanges is the way to go if you want to spread the risk.
Yeah, offline storage, I am almost always taking profits and moving them off the table in the excchange. Risky bizz nisss
True that! Better safe than sorry! But in the end, I don't think there is such a think as safe with crypto. Maybe just safer...
Its more about the freedom than the safety.. B Franklin said it. THose who risk freedom for security deserve neither! Banking freedom for all!!
Yeah, looks like with the way things are going everyone can be a banker...
Thats the plan
I hope so too. I hate banks with a vengeance! It was about time for a revolution in the way we "bank".
Thanks for the sound warning. Its not the first time I've read this recently. I own a trezor, but it sounds like it would be a good to idea to have a Ledger nano S as well, it seems like its more versatile in its coin holding capabilities. especially for someone wanting to do a bit of trading. Is that correct? followed