All crptocurrency at a single exchange. - page 2.

dunfida

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

It is not recommended to store all cryptocurrencies in one exchange or even in one personal wallet. Don't use exchange as a wallet, exchanges are not safe ad wallet. Two months ago, Bithumb exchange was a hack, that Exchange had pretty high security but still they got hacked. Ways try to use a hardware wallet to store your coins. If you can't use hardware wallet then you should use multiple online wallets. Don't keep your all money in one wallet.

Never ever keep your eggs on a single basket and this thing been said for how many times but people do still stick on storing or using exchange wallets as main ones rather than on using other wallets either pc,web,or hardware ones and as you said no exchange would really be resistant to any hacking incident and no matter how good the security is there would be still a flaw or exploit.
If you put up on a single exchange wallet and been hacked then you would be fucked up.

alfs75

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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.

Actualy in that case's thats making a transaction only in one single exchanges,theres a positive and negative impact to the investor,the good impact is maybe in thats situation we easily to get all crypto coins because they are only in one exchanges ,but how about if the processing fee they will rise,we are no choice to find another kind of trading exchanges, we become freeze into there exchanges rules ,although the negative impact thats theres no competition in crypto exchanges market because all will depend in one single exchange only.

Traderbtcc

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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.

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.

kickdapa

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It is not recommended to store all cryptocurrencies in one exchange or even in one personal wallet. Don't use exchange as a wallet, exchanges are not safe ad wallet. Two months ago, Bithumb exchange was a hack, that Exchange had pretty high security but still they got hacked. Ways try to use a hardware wallet to store your coins. If you can't use hardware wallet then you should use multiple online wallets. Don't keep your all money in one wallet.

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.

It all depends on the reputation or status of the exchange account itself. And I myself prefer to use NEXYBIT exchange account because the people inside are very professional and expert even in the implementation of his campaign their DEV nexy_jin always pays us on time, not only that yesterday I made a withdrawal (say the amount is very little), Alhamdulillah the transaction can run very smoothly with no obstacles at all.

zero9119

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Quote from: coinhunt on July 26, 2018, 04:24:22 PM

Don't ever store all cryptos within exchange, you're risking to lose everything you have. Buy a hardware wallet and transfer your assets there. On the exchanges, you can store small amounts of coins, which you're not afraid to lose. That's what I'm doing. I hold some crypto on cex https://cex.io/ only for trading, and the rest is in my wallet.

It is very dangerous to have all the cryptocurrency in an Exchange because the Exchange is always the target of hackers and scammers so you can get stolen assets at any time and in fact there are so many Exchange hackers. Keep coins in many places if you want to trade, and if you do not trade regularly, keep your coins on your hardware wallet.

St4yInTh3D4rk

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Quote from: TheKeyLongThumbI on July 24, 2018, 02:54:06 AM

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.

A single or a multiple one still not make a difference at all. I hope you are active in the crypto scene because hacking is very usual to happen in exchanges. So if you just place them in exchanges, you put them where there is a huge percentage they could be stolen. Creating an offline wallet or buying a hardware wallet is the answer.

Yes the funds should be in a wallet if it needs to be secured because most of the exchanges were hacked recently.OP needs to understand that exchanges is only for converting our crypto then it should be moved to a wallet where we can control our crypto currencies.Keep your coins in exchange only if you have the intention to trade it nearby.

DonnieMitchel

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It is not a right choice to keep your tokens in an exchange, unless you have the intention to trade it.
It is best to keep tokens/coins in a wallet (cold storage is better)

coinhunt

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Don't ever store all cryptos within exchange, you're risking to lose everything you have. Buy a hardware wallet and transfer your assets there. On the exchanges, you can store small amounts of coins, which you're not afraid to lose. That's what I'm doing. I hold some crypto on cex https://cex.io/ only for trading, and the rest is in my wallet.

TheKeyLongThumbI

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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.

A single or a multiple one still not make a difference at all. I hope you are active in the crypto scene because hacking is very usual to happen in exchanges. So if you just place them in exchanges, you put them where there is a huge percentage they could be stolen. Creating an offline wallet or buying a hardware wallet is the answer.

ajiejot

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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.

It is very risky! Specially when you don't own the private keys of every wallet in the exchange, it is not very advisable to store your coins in some exchanges, specially in the centralized exchanges. Much better just store it to your personal wallet.

Rufsilf

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It is possible if the exchange can handle a lot of traffic from the user like trader and investor and also visitors of the site because if the site cannot handle that then there will be no possibilities for an exchange to just handle all of the cryptocurrency because if that happen then it will be just a difficult thing to maintain since it needs a lot of capital to build a site that can handle a lot of traffic.

zxl912157

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It's not good to save in exchange, because the exchange is very vulnerable to hackers.
Unless you trade every time on Exchange, for example at Bittrex, Bitfinex, Kraken, Binance, Kucoin etc.

If you trade every day you can see the info continues and when there is a problem (hacker) on the Exchange you will not be overwhelmed.

nethan1btc

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Basically, we aim to have a good exchange site since thise exchange site may save their transaction fee. Well, ai would say it depends on your own perception but for me much better in different exchange sites to be more secured as well as it depends a kind of coins that you have. Also, if you find out that exchange site have a great security will I prefer on that exchange site but somehow you must be observant or attentive the kind of exchange you wish to trade or sell your coins.

impulse709

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Pretty safe to hold yours cryptocurrency at a big exchange. Yours fund will safe at that exchange and you only need to protect yours password, gmail to avoid hackers get yours cryptocyrrency out.

riptv

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if you are holding them for a long run than definitely don`t leave them in exhcanges rather use a wallet or hardware wallet as you can see there are many hacks going on centralized exchanges,

BlackPanda

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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 do not recommend to save a lot of money on an exchange only, otherwise I do not recommend you to trust only on an exchange only. This is very risky because as we know that many exchanges are experiencing problems, there are some who experience hacking and it makes all funds owned by the user is lost. That's why I say that exchanges are a risky way of storing large amounts of money. So for me the wallet that has a private key is a good choice, in addition to safe we will also get a sense of comfort because we will not worry in storing funds in large quantities and in the long term.

5ensei

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I would spread it out onto multiple exchanges. Coinrail was hacked recently and that is a reputable exchange, so the only way to secure your funds is to hold some in your own personal wallet, and spread the rest out on different exchanges for trading with

minthit

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Even if you keep in multiple exchanges, it's never safe to keep them on exchanges because you don't own the private key on exchanges. But, most people keep doing so, maybe because of the transaction fees the exchanges charge and the level of confidence they put on these exchanges.

MoneyCrafter

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I don't recommend that you put all your alts in one exchange because sometimes an exchange can get hacked which means you coins might get stolen while if you put that in like a ledger that's very safe and only you can open it.

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