Topic: Binance CEO saying don't keep coins on exchanges - page 6. (Read 1023 times)
I agree with CZ, thats the reason I am bullish on DEX
...But some say this is nonsense.
it is unclear what you mean by this. who says what is nonsense? keeping coins on exchanges or the fact that the owner of an exchange warned people about it?
in either case people should already know this and not trust then with their money in first place. not wait until a hack happens to start panicking.
your source is crap, but it's really wise not to keep your holdings on any online exchange.
Storing our coins in the exchange becomes very vulnerable after we hear there are several exchanges sites that are the target of the hack. As a precautionary measure, we should withdraw our coins and store them in a place where no one else has access to it. Any exchange sites can be the next target. So, be careful!
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after we hear there are several exchanges sites that are the target of the hack.
even before this news came out , storing your coins in an online exchange is already risky because many possibilities can occur . like for example the exchange can be hack or the exchage can turn into a big scam .
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we should withdraw our coins and store them in a place where no one else has access to it
you mean withdrawing them on an exchange and put them on an online/offline wallet ? or do you mean withdrew the coins and trade them to fiats and keep them on your own safety ? anyway , both practice are better and should be followed at all times , so that we wont have doubts that our coins will lost unexpectedly .
It is a good practice not to keep coins in exchanges. We should be using our own wallets (wallets whereby we control the private key), this has been repeated many times in this forum. The coins we keep in exchanges should be for trading purpose.
If the necessary steps are not taken in terms of security, I'm afraid we are likely to see that this is justified.
Storing our coins in the exchange becomes very vulnerable after we hear there are several exchanges sites that are the target of the hack. As a precautionary measure, we should withdraw our coins and store them in a place where no one else has access to it. Any exchange sites can be the next target. So, be careful!
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 not new, this is old news for all of us, some people stock their coins in the sell order hoping that when it pump they are on the first line, it is ok if there are no exchange hackings, but with so many hacking incidents it's not worth a profit.
It is very regrettable for now there are many cases of exchange market hacking, so that it can harm users who store Bitcoin in the exchange market. So to save Bitcoin it must be in a safe place like in a personal wallet that has etxtra security.
LoL this is absolutely true for me, I don't hold my coins in exchanges specially to those exchanges with history of breaching. The more safe is if it's with hardware wallet. I personally experienced this in Hi***C exchange so better not to stored coins in exchanges.
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.
Actually save money in exchanger already get warned from a long time ago, because we can't control or don't have any control with our money. Anything that happen with exchanger is risk for us. But we don't have any choice because we trade on exchanger too, if keep move assets, it will need more money to pay fees. 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.
Exchanges are making a really good profit of all those constant withdrawal, its make sense not to keep all your crypto’s on an exchange, but if you trade on a daily or weekly basis, then choose a good exchange and keep your trading funds there.
After reading of such topics like mt. gox and Cryptsy, I would never see myself storing many coins on exchanges
There are too many free and easy to use crypto wallets available, why you want to leave coins in vulnerable place like a exchange?
If a person claims there is advantage to doing so, they are either too lazy to figure it out or they dont mind getting stolen from.
There are too many free and easy to use crypto wallets available, why you want to leave coins in vulnerable place like a exchange?
If a person claims there is advantage to doing so, they are either too lazy to figure it out or they dont mind getting stolen from.
It depends on what exchanges you use to trade and how you trade. If day traders have to withdraw their bitcoins every day, they would not make any profit. The coins has to be on the exchange to fulfil the sell orders, so what other option do you have?
The advice should rather be, not to store large amounts of coins on the exchanges and not storing any coins on these exchanges. Some traders are lazy and they leave large amounts of coins on these exchanges and that is a magnet for corrupt exchange employees and for some hackers that targets individual whales.
I agree with that Exchanger today is not safe the only method is to store your coins in your private wallet that secured much more and everything will be fine as long you have the private key.
I don’t think half the folks in this thread even read the tweet, including the OP.
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.
Every crypto holders know and this has been taken up thousands of times before, never use wallet from an exchange, they are not 100% safe like what happen to Cryptopia recently it's negligence if you do not keep this advice, exchanges are always targetted exchange.
Haha what an advice.
He's just very confident that his exchange is the best and has the highest and tighest security of all. I'll never listen even if its coming from him. Now he's inviting hackers to come and penetrate to binance, store your coins safely to an hardware wallet.
He's just very confident that his exchange is the best and has the highest and tighest security of all. I'll never listen even if its coming from him. Now he's inviting hackers to come and penetrate to binance, store your coins safely to an hardware wallet.
Any thing can happen to any exchange no matter how strong you think they are ,don't leave large supply of coins on exchanges ,if you are a trader after a successful trade move your coins out
After reading of such topics like mt. gox and Cryptsy, I would never see myself storing many coins on exchanges
There are too many free and easy to use crypto wallets available, why you want to leave coins in vulnerable place like a exchange?
If a person claims there is advantage to doing so, they are either too lazy to figure it out or they dont mind getting stolen from.
There are too many free and easy to use crypto wallets available, why you want to leave coins in vulnerable place like a exchange?
If a person claims there is advantage to doing so, they are either too lazy to figure it out or they dont mind getting stolen from.
It is nonsense. If cryptocurrency is not traded, what make its price moves? Trading could lead for its price and demands.
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