Advice Investing

Aoami

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No. And what exchange were your mates on? That would have been all over the news.
Asked megadave, it was this one:


View: https://medium.com/@bitgrailvictims/the-bitgrail-exchange-ruling-a-win-for-cryptocurrency-exchange-users-50df6c383571

 

Aoami

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He said he lost some money when another exchange was hacked as well, cryptopia
 

Scouse

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It's be a shock if any of the well-regulated exchanges went (coinbase, kraken etc).

That's the argument for keeping hold of your keys securely tho eh?
 

Tay

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Why would you buy crypto with a credit card? My debit card buys it fine.
Presumably people think they can defraud the credit card company when the crypto goes down..

There is too many pump and dumps in bitcoin stuff. I'd never get back into it again. I made my money, bought lots of nice gear with it but never again.
 

Tay

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Would Credit Cards offer any protection against crypto theft or the person closing up the exchange and running away with all the money like what happened to my mates?
Not sure, I wouldnt have thought so as I would assume its a cash transaction, or maybe they do it for a quick turnaround then pay off the card.

I've used at least 6-7 exchanges in the past including that one run by the dodgy french geezer in Japan. Luckily I wasnt caught out by his "criminal" behaviour. Most looked pretty dubious and when times got tough they miraculously got hacked
 

Tay

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Nothing protects you against crypto theft as far as I know. Maybe if an exchange owner did a runner but not for individual theft.
What constitutes Crypto theft? If you are stupid enough to give people you keys and pass phrases thats not theft its utter lunacy.

If its stolen from an exchange then that might be a different thing altogether.

But since crypto currencies are typically not recognised by many govts around the world as fiat currency, the arguments might be moot.
 

Tay

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Just did a quick search of Crypto exchanges and out of the top 25 hits only 4-5 look familiar from when I was mining/trading...and some of those were pretty solid outfits like Kraken, no idea who the others are.
 

SilverHood

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Give it a few years and the biggest crypto exchanges will consolidate, and then the banks will buy them.
 

Jupitus

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Give it a few years and the biggest crypto exchanges will consolidate, and then the banks will buy them.

.... or more 'traditional' exchanges....
 

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