Disliked{quote} Hello everyone, Exchanges and brokers always requires vigilance. Some location are good to protect us from the risk of fraud. But they are also more exposed to government actions. Having decent business information increase trust but also chances of hack. Despite a safe offer in a well respected country, Mtgox still managed to accumulate all of those weakness. From having most of my btc <with bank> transaction in oz, in the previous years, I can say their policy got updated very quick. I had a few buy via OKpay bounce back, because of gambling...Ignored
Glad you posted this because, it's definitely time I start rationalizing my BTC and using compartments in different physical and virtual locations. You make a good point about "safe" locations and compartments. In the end, I think we will realize that there is no-one to trust with one's money. Not the bank, not the "legitimate" company down the road and not some faceless company in Europe somewhere. In the end a digital wallet to which only you have the private key is the only safe place - and even then we have to guard against hardware failure and other catastrophes - with multi-signature wallets.
To trade with leverage we have to take some risk in terms of depositing the coins somewhere else for the duration of the trade. Where that somewhere else is and who the "caretaker" broker will be - that's the question that KiwiOz and I have been trying to answer. Well, we've eliminated some bad options so far, and with your good advice added, lady_luck, maybe we can find 2 or 3 candidates and split funds between them.
Another issue that occurs to me now is that, should Bitcoin make the substantial rally we anticipate in our collective analysis - and one trades that rally long at 10:1 or 100:1 - then there is a big chance the broker cannot make good the CFD due to lack of liquidity as the price curves upwards. Not that this is enough to prevent me from trading with high leverage, but its another reason to spread the trading capital around between more than 1 (or even 2) brokers.
L_L , before, you mentioned 340 and 350...
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cryptocurrency everytime