Topic: Binance CEO saying don't keep coins on exchanges - page 4. (Read 1023 times)
well, maybe that was said because the exchanger is vulnerable to be the target for the rights holders at this time. because it's quite dangerous to store large amounts of bitcoin, or other assets into an exchanger. maybe it's better to save it in a trusted wallet and activate all the security systems, I think it's better.
https://cryptomenow.com/controversial-tweet-draws-fire-ceo-of-binance/
After some recent high profile hacks happening, Changpeng Zhao shares tips on keeping safe, mostly coming from a place of holding personal responsibility. But some say this is nonsense.
After some recent high profile hacks happening, Changpeng Zhao shares tips on keeping safe, mostly coming from a place of holding personal responsibility. But some say this is nonsense.
this is confusing, I think every exchange must provide a sense of security for the traders. the security system must be tightened so that we can trade safely without handing over hacking.
https://cryptomenow.com/controversial-tweet-draws-fire-ceo-of-binance/
After some recent high profile hacks happening, Changpeng Zhao shares tips on keeping safe, mostly coming from a place of holding personal responsibility. But some say this is nonsense.
After some recent high profile hacks happening, Changpeng Zhao shares tips on keeping safe, mostly coming from a place of holding personal responsibility. But some say this is nonsense.
If we start using non-custodial exchanges like CoinSwitch.co the problem is solved by itself. When we exchanges, the coins are directly sent to user wallet.
That must be avoided, saving coins in an exchange is only for trading. Do not keep it for a long time. I think the CEO took the right action by saying this because they did not want to take the risk also.
https://cryptomenow.com/controversial-tweet-draws-fire-ceo-of-binance/
After some recent high profile hacks happening, Changpeng Zhao shares tips on keeping safe, mostly coming from a place of holding personal responsibility. But some say this is nonsense.
After some recent high profile hacks happening, Changpeng Zhao shares tips on keeping safe, mostly coming from a place of holding personal responsibility. But some say this is nonsense.
I don't think this is nonsense nor something we should take for granted. Truly, keeping our valued assets is our sole personal responsibility. Though we kept it in an exchange and the exchange got hacked, somehow we are still responsible for entrusting our assets in their safekeeping. We should be more vigilant, cautious and meticulous in choosing which exchange to trust. And yeah, we shouldn't keep our assets in exchanges for a long time. It's okay to put our coins there if we are trading daily, but to leave it there for a long time, I don't think that's a good idea. Personally, I only transfer my coins to exchanges if I'm about to market it, and I am completely aware and ready of the risks associated with it. That's being responsible trader/hodler.
I prefer to save the most coins I have in the multi wallet than in the exchanges because I am sure it will be safer. I don't have too many coins in the binance because I don't use binance as my main exchanges to trade. But if somehow, I feel that in the next day, there will be a big movement from the coins, I will send the coin to the exchange, so I don't miss the good time to sell. We need to be careful with the safety of our coins, and we need to aware of the hacker too.
Truly the exchange is not that save to keep one token in for long but due to some reason and day trading habit many keep their token in exchange for easy and fast trade in case there is sharp turning and fees charge too which has be the major issue for every trader and DEX is all we need and from trust source as many of this dex now are also kind of shit.
Didn't he mean don't keep your coins on other exchanges except Binance? kidding aside.
To be honest, I also keep my coins in some exchanges but I make sure I will never keep it on shitty exchanges as they are
more vulnerable to hacking. If I have to trust my coins in a certain exchange, I will put a bigger portion of my coins to Binance as they are more secured.
To be honest, I also keep my coins in some exchanges but I make sure I will never keep it on shitty exchanges as they are
more vulnerable to hacking. If I have to trust my coins in a certain exchange, I will put a bigger portion of my coins to Binance as they are more secured.
Oh, garbage, you're wasting my time, okay? Please respect the original copy and do not copy so low.
https://cryptomenow.com/controversial-tweet-draws-fire-ceo-of-binance/
After some recent high profile hacks happening, Changpeng Zhao shares tips on keeping safe, mostly coming from a place of holding personal responsibility. But some say this is nonsense.
After some recent high profile hacks happening, Changpeng Zhao shares tips on keeping safe, mostly coming from a place of holding personal responsibility. But some say this is nonsense.
I think its true that we should store our own coin or token in our own wallet. Its on our own control. As long we keep the private key safe, i am believe hackers can not hack our wallet. If we plan to hold for long term, its not safe storing our coin in exchanger wallet because its very risky
I think there is truth because all exchanges have a weakness point and of course the risk will be very large if we keep all our assets in the market because hacking often occurs in several large markets so that all our assets will be lost because the market loses data better than we are now more careful careful in maintaining our digital assets not because of our carelessness that will destroy our lives.
It's really not the safest place to store your coins. With your account on the exchange, something bad can happen. I unfortunately have such a sad experience and it took me a very long time to recover my account on the exchange and get my coins back. Therefore, it is better to choose a reliable wallet and store your bitcoins there.
Couldn't agree more. Not only the risk of hacking but also along with the risk of company issues related to the price of Bitcoin, I wouldn't leave any measurable amount in an exchange as of this moment.
This is one of the best tips that exist to store your coins. More than one bitcoin was stolen in this way. Keep the money on the exchange only as a last resort, if you are going to make any transactions with it.
He didn't actually say that, he only listed the two options; storing coins yourself and on exchanges with their cons and pros. So the choice is on the individual to ascertain his tech know-how and how secure the exchange is or to move funds to Dex.
OP, your title is misleading! The Binance CEO did not tell what you mentioned, rather he said the opposite things! And his tweet made a short controversy! after then he explained why he suggested storing coins on exchanges! Mate, CH tweeted about to store coins on a trusted exchange like Binance, and that was just an ad as he explained! But the reality is, we shouldn't store our coins on an exchange for a long time, only hardware wallet with enough security is the solution!
yeah , the main function exchanger is to do "exchange" , our coin just transit there and become other coin /fiat , if you'r really holding better do it on personal wallet like blockchain or MEW
Of course, keeping your tokens on exchanges are not very safe because it can be stolen at any time. It is better you keep these tokens in a wallet than an exchange.
https://cryptomenow.com/controversial-tweet-draws-fire-ceo-of-binance/
After some recent high profile hacks happening, Changpeng Zhao shares tips on keeping safe, mostly coming from a place of holding personal responsibility. But some say this is nonsense.
After some recent high profile hacks happening, Changpeng Zhao shares tips on keeping safe, mostly coming from a place of holding personal responsibility. But some say this is nonsense.
Whether the tweet is correct or false
I advise what came in it
Exchange is made for trading only and not for storage
The wallet is much safer than trading.
If you are not a trader, keeping your cryptocurrencies does not seem reasonable. Also, he is right not wanting have inactive accounts. Personally, I think he may prefer to focus on to be traders' home.
Jump to: