All crptocurrency at a single exchange.

tenakha

hero member

Activity: 1470

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Quote from: shulio on September 29, 2018, 03:05:13 PM

Some exchanges like Binance, Bitfinex and Bittrex are the strongest exchanges currently available. I do not think there will be any problem holding your coins on these exchanges with a api disabled 2FA enabled account.

Although 2FA is used, i don't support keeping the crypto in exchange. First of all, there is a possibility of hacking, although it is the safest exchange. Secondly, the money in exchange is't exactly yours, you don't have the right to request for private key. Also, they can freeze your account at any time. Using offline wallet protects you in any situation. Wink

shulio

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Some exchanges like Binance, Bitfinex and Bittrex are the strongest exchanges currently available. I do not think there will be any problem holding your coins on these exchanges with a api disabled 2FA enabled account.

fibrolit

sr. member

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Quote from: Pattart on September 18, 2018, 09:38:25 PM

Quote from: Traderbtcc on July 26, 2018, 06:00:06 PM

Quote from: rajkr on February 19, 2018, 10:30:44 PM

Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.

Storing your stash of cryptos on an exchange is not even recommended in the first place. Only do so If you're an active trader and only keep a percentage of your holdings on the exchange. While dealing with Cryptocurrencies is interesting, one major downside is the security. In just one clean swoop, you can lose everything (Your profits, capital) etc. You've to take it seriously so. Just get a personal wallet instead.

Even for active traders using 1 trade exchange will be quite risky, I myself use 3 exchanges for variety and security, it will be much
safer and more profitable than just using 1 exchange. other than that if you want to save long term, then choose a wallet.

I use more than ten exchanges and several separate wallets Wink

. Now there are several thousand different tokens and cryptocurrencies and it is absolutely unrealistic to have them all on one exchange. The software of any exchange will not be able to support trading operations with such a number of cryptocurrencies.

riskarcher

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Activity: 672

Merit: 100

in one exchange is certainly not a good global exchange, this is just as we are encouraged to save money in one bank and will certainly risk the future of the crypto currency because of the lack of transparency and the authority that can be said to be liberal

GalahadSeika

full member

Activity: 179

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I think it is not possible because one coin might destroy a reputation of one exchange. For example, one coin has a very bad reputation. For the exchange's reputation not to go down, it's better for not to let the coin stay in your platform.

johnwest

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I dont think that is suggested unless you are a day trader and at least buy n sell the coins once in a week. Its best to keep your long term tokens in wallets.

fempat

member

Activity: 331

Merit: 13

While it's convenient to trade on a single exchange, it's not advisable to store cryptocurrencies on exchanges. Wallets are meant for this. And the rate at which exchanges are being hacked in recent times, one must be extra cautious.

yonjitsu

full member

Activity: 476

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www.daxico.com

That's a big NO NO because we should keep in mind how vulnerable cryptomarkets will be from hackers. In practice, i always keep all my cryptocurrencies in MEW for all of my ERC-20 standard tokens and other wallet to non-ERC-20 tokens. I only transfer my crypto to a market once i want to trade my crypto.

Bonsaiav

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Quote from: rajkr on February 19, 2018, 10:30:44 PM

Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.

As long as the exchange account used has a good reputation or isn't defective in the public eye I don't think it's wrong. By using one wallet precisely it will make your transaction'be easier and more practical, for example you use Nexybit Hybrid Exchange. With the NEXYBIT wallet there you can save your coins (such as BTC, ETH, AE, ATM, EXC, GTO, OMG, TTC, TUSD, USDT, ZIL and ZRX).

hahay

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Quote from: Pattart on September 18, 2018, 09:38:25 PM

Quote from: Traderbtcc on July 26, 2018, 06:00:06 PM

Quote from: rajkr on February 19, 2018, 10:30:44 PM

Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.

Storing your stash of cryptos on an exchange is not even recommended in the first place. Only do so If you're an active trader and only keep a percentage of your holdings on the exchange. While dealing with Cryptocurrencies is interesting, one major downside is the security. In just one clean swoop, you can lose everything (Your profits, capital) etc. You've to take it seriously so. Just get a personal wallet instead.

Even for active traders using 1 trade exchange will be quite risky, I myself use 3 exchanges for variety and security, it will be much
safer and more profitable than just using 1 exchange. other than that if you want to save long term, then choose a wallet.

So in essence, to be used as an active trade and or to save for the long term or to be used as a wallet, the exchange is not suitable to be used as a wallet and you must use more than one exchange for active trading. I once made exchanges as a wallet, and in the end I lost all the coins I kept there, if you want to find a wallet for crypto, look for a wallet that you can fully control or control as you can store and have a private key, and do not make an exchange becomes a wallet, because it is not recommended.

armarsterling7

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Activity: 420

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Quote from: rajkr on February 19, 2018, 10:30:44 PM

Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.

I think we should diversify our portfolio to minimize risk. Because we are not sure about the direction of the market in the future. That is the way I usually do to avoid a lot of losses and if lucky, I will be more profitable. Invest in more than 5 altcoins, do not invest less than that.

BitcoinMarketer39

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Activity: 392

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ADABsSsSsSsSSSsS

Quote from: rajkr on February 19, 2018, 10:30:44 PM

Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.

There are exchangers that does not have a good security and reputation so it was better to use different coins to avoid losing all your investments if the problem occur on the exchanger you are placing your coins.

Muspion

jr. member

Activity: 127

Merit: 1

Quote from: mrproblem on March 10, 2018, 04:18:24 PM

Try to not keep your coins or fiat on exchanges as much as possible or distribute them more than one exchange if you need

indeed to keep assets in the exchange market is not recommended for a long time because it is very risky hacked and I think if only to trade in the short term I think there is no problem

Pattart

hero member

Activity: 1190

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Quote from: Traderbtcc on July 26, 2018, 06:00:06 PM

Quote from: rajkr on February 19, 2018, 10:30:44 PM

Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.

Storing your stash of cryptos on an exchange is not even recommended in the first place. Only do so If you're an active trader and only keep a percentage of your holdings on the exchange. While dealing with Cryptocurrencies is interesting, one major downside is the security. In just one clean swoop, you can lose everything (Your profits, capital) etc. You've to take it seriously so. Just get a personal wallet instead.

Even for active traders using 1 trade exchange will be quite risky, I myself use 3 exchanges for variety and security, it will be much
safer and more profitable than just using 1 exchange. other than that if you want to save long term, then choose a wallet.

manggis97

member

Activity: 476

Merit: 10

Iam will not do that because seem too risky, we know already some exchange get hacked. At the moment i used 6 different exchange and this is way to minimize risk from hack. By this way we can trade more different coin. Others thing that very important when use more than 1 exchange is use different email address and different password on the each exchange.

Wiwendefak

full member

Activity: 350

Merit: 103

It is not safe to store your crypto coins in any exchange for a long time. Exchange wallets shouldn't think as the main wallet. If you feel insecure with Metamask or other wallets then buy a hardware wallet, hardware wallets are cost high! Crypto exchange can hack anytime, bithumb hacked for twice in this year but that is a big exchange no doubt. Now, you should think about it.

Gabb

full member

Activity: 392

Merit: 105

I think the ideal would be to have exchanges that offer all the wide range of altcoins that exist today, but unfortunately it is still impossible to have such a benefit and it is necessary to open lots of accounts in countless exchanges to have the possibility of trading with different altcoins.

I do not know if in the near future there may be a solution to this problem, since decentralized exchanges like etherdelta, although it offers the widest range of altcoins to exchange, has proven to be extremely vulnerable and inefficient, so we are still waiting for a real solution that not even the atomic swaps will be able to solve completely.

Ompyon

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Quote from: Traderbtcc on July 26, 2018, 06:00:06 PM

Quote from: rajkr on February 19, 2018, 10:30:44 PM

Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.

Storing your stash of cryptos on an exchange is not even recommended in the first place. Only do so If you're an active trader and only keep a percentage of your holdings on the exchange. While dealing with Cryptocurrencies is interesting, one major downside is the security. In just one clean swoop, you can lose everything (Your profits, capital) etc. You've to take it seriously so. Just get a personal wallet instead.

Personal wallets are good, but they don't seem to be suitable for daily traders, so you should have several different markets,
and choose a market that has high confidence, so the security level is also good.

SaltedCrypto

newbie

Activity: 54

Merit: 0

No. Even if you put your crypto in several exchanges it is not safe too.

The most secure location so store your crypto is at your own wallet, Period.

nydiacaskey01

legendary

Activity: 1834

Merit: 1036

I know how it feels when you see an opportunity and you don't have enough funds in your wallet at the exchange site to invest that's why you would rather keep your coins in an exchange site to avoid paying fees. But as other already suggested, its not safe to keep your coins in an exchange site and its not even more safe if you keep it in just 1 exchange site.

Topic: All crptocurrency at a single exchange. (Read 1966 times)