Topic: All crptocurrency at a single exchange. - page 4. (Read 1966 times)
Exchange site is use to trade crypto (bitcoin and altcoins) not for storing it. If you have that many crypto then make more account in different exchange and trade it if you want to. If you want to keep your valuable coins and want to HODL it then I suggest you to buy hardware wallet such as trezor or ledger.
Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
If you are opting for an exchange to keep your coins then its advisable to store them on multiple exchanges rather than keeping all coins at a single exchange. If you are looking to store them for a long-term then use a wallet, remember exchanges are a favorite place for hackers to steal your coins.
Keep your coins at a very secure place that only you can access it. like ledger. because in ledger your coins is safe but of course you need to pay for that ledger but it's alright because you can loose alot if you don't store your coins properly.
Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
it's better you only have assets in one exchange place because if you play in exchange place more than 1 place you will confusion of asset that you have there which will surely forget and confused.
I think it is impossible to get all cryptocurrency in one exchange. Many cryptocurrency will be listed in multiple exchange and some would not be listed at certain exchange at the same time. It is not adviceable to keep all your coin at exchange either.
If you really have to use an exchange, use more than one.
At least, if something happens, you won't lose everything.
But a personal wallet on which you own the private key is of course safer.
At least, if something happens, you won't lose everything.
But a personal wallet on which you own the private key is of course safer.
Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
It is dangerous to store all the coins on one exchange. Use at least 3 exchanges, but the top ones, because there is less likelihood that something will happen to them. Keep on the stock exchange only the number of coins you need to trade.
Think about mtgox. So always keep your crptocurrency separate.
But it does not mean that you have to put it all in your own wallet. After all, you can miss a lot of the market opportunities in your wallet and your third-party wallet at risk of being stolen.
I personally feel that the first, investment in crptocurrency must be within the scope of the funds that you can afford, and then some of them are used as reserves in private wallets, and the other part is used as trading products and placed in the market.
But it does not mean that you have to put it all in your own wallet. After all, you can miss a lot of the market opportunities in your wallet and your third-party wallet at risk of being stolen.
I personally feel that the first, investment in crptocurrency must be within the scope of the funds that you can afford, and then some of them are used as reserves in private wallets, and the other part is used as trading products and placed in the market.
Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
It is always best to diversify. This advice does not only apply to investments, whether cryptocurrency-related or not, but also to all kinds of investment opportunities, and also to exchange platforms. Do not just focus on a single exchange platform. Well, in the first place, you will follow the exchange platforms of your favorite and potential coins so you cannot just settle with a single platform. But also if the single exchange platform that you use is in maintenance or crashing down, then you will also be stuck along with them. So you better use around 3 of the best exchanges.
Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
It is always best to diversify. This advice does not only apply to investments, whether cryptocurrency-related or not, but also to all kinds of investment opportunities, and also to exchange platforms. Do not just focus on a single exchange platform. Well, in the first place, you will follow the exchange platforms of your favorite and potential coins so you cannot just settle with a single platform. But also if the single exchange platform that you use is in maintenance or crashing down, then you will also be stuck along with them. So you better use around 3 of the best exchanges.
The right answer has been posted in the beginning of the thread, I would like to add my own opinion. You should put your coins in your own wallet in which only you has the access of it, you own your master seed and it's your own responsible to keep it safe.
Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
It is always best to diversify. This advice does not only apply to investments, whether cryptocurrency-related or not, but also to all kinds of investment opportunities, and also to exchange platforms. Do not just focus on a single exchange platform. Well, in the first place, you will follow the exchange platforms of your favorite and potential coins so you cannot just settle with a single platform. But also if the single exchange platform that you use is in maintenance or crashing down, then you will also be stuck along with them. So you better use around 3 of the best exchanges.
Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
If you are referring to storage, you shouldn’t store any cryptocurrencies on an exchange because they are at risk of a hack or the exchange losing your money. Only store them on a paper wallet or hardware wallet, or at least the coin’s wallet and secure your private keys.
If you are referring to trading, you have to have some on an exchange to trade. I don’t think it matters that much if you use one exchange or several to trade. I use 2 exchanges only because they have different coins that I can’t get on the other one.
Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
If you are referring to storage, you shouldn’t store any cryptocurrencies on an exchange because they are at risk of a hack or the exchange losing your money. Only store them on a paper wallet or hardware wallet, or at least the coin’s wallet and secure your private keys.
If you are referring to trading, you have to have some on an exchange to trade. I don’t think it matters that much if you use one exchange or several to trade. I use 2 exchanges only because they have different coins that I can’t get on the other one.
You should instead find hard wallets and other type of wallets where to store your coins instead on an exchange....remember you don't own anything if you don't hold your private keys,...remember what happened to bitgrail and all nano holders lost everything on the exchange
I agree it isn't save to hold all cryptos in one exchange. But when I use hardware or desktop wallets I cann't use limit for orders.
So I try to use several big exchanges to hold cryptos I want to sell and all others on hardware wallets.
So I try to use several big exchanges to hold cryptos I want to sell and all others on hardware wallets.
First thing bitfinex has been hacked multiple times and every time its users have lost their funds. Secondly never keep your coins on an exchange, period, thats like the first rule of crypto currencies. And even if you are going to keep them on exchanges than never keep them all on a single exchange.
Putting all eggs in one basket is not safe. if it is Bitfinex or Bittrex or Binance all are exchanging sites if they shut down overnight to whom we have to ask. So try to hold coins in multiple sites. I think all cryptocurrencies are not listed in all exchanging sites so practically also it is not possible. Is it safe to keep your all crypto currency at a single exchange (bitfinnix)?Or one should choose multiple exchanges.
I do not feel safe, when I send all my assets and money in one place. I frequently convert transaction volume at exchange sites (bitfinex or bittrex / binance) and blockchain. I personally have done this process often and feel safer. It seems to be a trader in a market that is risky and sensitive to security. I learned the cautious and good habits.
I would use multiple exchanges of course and preferably keep my coins in a wallet which private keys I own.
First thing bitfinex has been hacked multiple times and every time its users have lost their funds. Secondly never keep your coins on an exchange, period, thats like the first rule of crypto currencies. And even if you are going to keep them on exchanges than never keep them all on a single exchange.
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